Mreit, Inc.PSE: MREIT

Reinvestment Plan

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SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Mar 11, 20222. SEC Identification Number CS2020522943. BIR Tax Identification No. 502-228-971-0004. Exact name of issuer as specified in its charter MREIT, Inc.5. Province, country or other jurisdiction of incorporation Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 18th Floor, Alliance Global Tower, 36th Street corner 11th Avenue, Uptown Bonifacio, Taguig City, PhilippinesPostal Code16348. Issuer's telephone number, including area code (632) 8894-6300/64009. Former name or former address, if changed since last report N/A10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 2,532,121,381
11. Indicate the item numbers reported herein Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

MREIT, Inc.MREIT PSE Disclosure Form REIT-1 - Reinvestment Plan
References: Rule 4 of the IRR of the REIT Act of 2009 and
Sections 4 and 8 of the Amended PSE Listing Rules for REITS
Report Date Mar 11, 2022
  • InitialFiling
  • Amend
Amendment No.: 1
Items amended by Filing

In view of the COVID-19 pandemic and the extended community quarantines and government restrictions on mobility of persons, workers and cargoes and percentage of business operations imposed by the Philippine Government to manage the spread of the virus, Megaworld Corporation ("Megaworld") was constrained to make certain adjustments in its project planning and development activities to optimize its capital expenditures.

In view of the foregoing, and following current Philippine Government regulations, Megaworld hereby submits its Amended Sponsor Reinvestment Plan which lays out its plan to invest its net proceeds from the from the Initial Public Offering ("IPO") and December 20, 2021 sale of 4 properties to MREIT, Inc. ("Asset Sale") in malls, offices, land improvements, and other developments, comprising fourteen (14) projects within Metro Manila, Cavite and Batangas, four (4) projects in Bacolod, three (3) in Iloilo, two (2) in Cebu, two (2) projects in Bulacan and Pampanga, and two (2) projects in Boracay and Palawan. All disbursements for such projects are intended to be distributed within one year from receipt of the net proceeds from the IPO and the Asset Sale.

As of the date of the Amended Reinvestment Plan, Megaworld is to disburse a total of Php 21.893 billion, which represents the total proceeds from the IPO and Asset Sale less the total disbursements made under the First Reinvestment Plan as of December 31, 2021. No disbursements had been made yet for the projects identified in the Reinvestment Plan for the proceeds from the Asset Sale.

The changes in the Reinvestment Plan for the IPO Proceeds are summarized as follows:

1. The Two Fintech building and Office - Pampanga project were removed from the list with projected disbursements of Php110.00 million and Php 530.00 million, respectively.

2. The following projects were included in the list:
a. Eastwood City Projects
b. Arcovia Projects
c. Boracay Newcoast Projects
d. Arden Botanical Estate Projects
e. Twin Lake Projects

3. Increase in planned disbursements for the following projects:
a. One Paseo
b. Commercial - Bacolod
c. Commercial 2 - Bacolod
d. Hotels

4. Decrease in planned disbursements for the following projects:
a. One LeGrand Tower
b. Worldwide Plaza
c. No. 1 Upper East Avenue
d. International Finance Center
e. Office - Taguig
f. Office/Commercial - Pampanga

Exact Name of REIT as Specified in its Charter MREIT, Inc.
Address of Principal Office 18th Floor, Alliance Global Tower, 36th Street corner 11th Avenue, Uptown Bonifacio, Taguig City 1634, Metro Manila, Philippines
SEC Identification Number CS202052294
BIR Identification Number 502-228-971-000
Name of REIT Corporation: MREIT, Inc.
Reinvestment Plan Period: Oct 1, 2021
A. Income-Generating Properties Transferred by the Sponsors/Promoters to the REIT
Name of Sponsor/Promoter Description of Property Transferred Certificate of Title of Property Transfer Value of the Property to the REIT
N/A - - -
B. Estimated Amount of Proceeds/Money to be Realized by the Sponsors/Promoters
I. From the Subsequent Sale of REIT shares or other securities issued in exchange for income-generating real estate transferred by the Sponsors/Promoters to the REIT
Name of Sponsor/Promoter Estimated Amount of Proceeds
Megaworld Corporation 14,790,000,000

II. From the Sale of income-generating real estate to the REIT
Name of Sponsor/Promoter Estimated Amount of Proceeds
- -
C. The Reinvestment Projects
Description of the Real Properties/Infrastructure Projects subject of the Reinvestment Policy
Description of the Real Properties/ Infrastructure Projects Location Estimated Timing of Disbursement of the Money/ Proceeds for Reinvestment Percentage of Completion as of the Date of the Reinvestment Plan Type of Investment
(Direct ownership, shareholding, etc.)
One LeGrand Tower McKinley West, Taguig Q4 2021 100% Direct
One Paseo ArcoVia City, Pasig Q4 2021 100% Direct
Worldwide Plaza Uptown Bonifacio, Taguig Q4 2021 99% Direct
No. 1 Upper East Avenue The Upper East, Bacolod Q4 2021, Q2 2022 to Q3 2022 11% Indirect
International Finance Center Uptown Bonifacio, Taguig Q4 2021 28% Direct
Enterprise One Iloilo Business Park Q4 2021, Q2 2022 to Q3 2022 13% Direct
Office - Iloilo Iloilo Business Park Q4 2021 to Q3 2022 6% Direct
Office - Taguig Taguig Q4 2021 to Q3 2022 8% Direct
Office / Commercial - Cavite Maple Grove, Cavite Q4 2021 to Q3 2022 8% Direct
Office / Commercial - Pampanga Pampanga Q1 2022 8% Indirect
Commercial - Bacolod The Upper East, Bacolod Q4 2021, Q2 2022 to Q3 2022 8% Indirect
Commercial 2 - Bacolod Northill Gateway, Bacolod Q4 2021, Q2 2022 to Q3 2022 7% Indirect
Hotel Various Q1 2022 to Q3 2022 5% Indirect
Eastwood City Projects Eastwood, Quezon City Q1 2022 to Q3 2022 90% Indirect
Arcovia City Projects ArcoVia City Q1 2022 to Q3 2022 10% Indirect
Boracay Newcoast Projects Boracay Newcoast Q1 2022 to Q3 2022 20% Indirect
Arden Botanical Estate Projects Arden Botanical Estate, Cavite Q1 2022 to Q3 2022 5% Indirect
Twin Lakes Projects Twin Lakes, Tagaytay Q1 2022 to Q3 2022 7% Indirect
Other Relevant Information

Please see the attached Amended Reinvestment Plan for more details.

Filed on behalf by:
Name Ma. Georgina Alvarez
Designation Chief Legal Consultant

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