The board of directors of Grand Plaza Hotel Corporation at its regular meeting held on November 4, 2022, the Management of the Corporation notified the Board that the Corporation entered into a Contract of Lease ("Contract of Lease") with Goldwinnphil Inc. ("Goldwinnphil") as the lessee covering a portion of the premises at The Heritage Hotel ("Hotel") of the Corporation. Previously, on 5 August 2022, the Board of Directors had authorized the Management to negotiate the terms of a potential lease with Goldwinphil. Relevant terms of the contract of lease are provides as follows: leased premises: Basement, Ground floor, and second floor of the hotel.

Leased area: approximately 5,500 square meters under the contract of lease and additional leased areas, under the amendment to the contract of lease, as follows: basement (Storage Room): 318.31 square meters; Basement (cafeteria/Dining): 109.97 Square meters. Use of leased premises: Gaming operations and/or operate a casino by goldwinnphil. Other terms: goldwinnphil shall apply for and obtain all necessary licenses, permits and consents to ensure lawful conduct of business and operations at the leased premises, including a permit to operate from the Philippine amusement and gaming corporation.