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 24, 20222. SEC Identification Number 148293. BIR Tax Identification No. 000-164-7574. Exact name of issuer as specified in its charter Pilipinas Shell Petroleum Corporation5. Province, country or other jurisdiction of incorporation Taguig City, Metro Manila, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Brgy. Fort Bonifacio Taguig City, Metro ManilaPostal Code16358. Issuer's telephone number, including area code (632) 3 499 40019. 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 1,613,444,202
11. Indicate the item numbers reported herein Item 9 - Other Events

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.

Pilipinas Shell Petroleum CorporationSHLPH PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules
Subject of the Disclosure

Regular Meeting of the Board of Directors of Pilipinas Shell Petroleum Corporation held on 24 March 2022

Background/Description of the Disclosure

At the Regular Meeting of the Board of Directors of Pilipinas Shell Petroleum Corporation (the "Corporation") held on 24 March 2022 via teleconferencing, at which meeting a quorum was present and acting throughout, the following matters were discussed and approved:

1. 2021 Audited Financial Statements ("AFS")
2. Deferral of the Dividend Declaration on 2021 AFS
3. Sycip Gorres Velayo and Co. as External Auditors for 2022
4. 2022 Virtual Annual Stockholders' Meeting ("Meeting")
5. Updated:
a. Securities Dealing Code
b. Related Party Transaction Policy
c. Board Audit and Risk Oversight Committee Charter

Regarding items (1), (3), and (5)(c), the 2021 AFS, re-appointment of external auditors, and updated Board Audit and Risk Oversight Committee Charter were approved by the Board upon the endorsement of the Board Audit and Risk Oversight Committee.

On item (2), the Corporation has negative unrestricted retained earnings as of 2021 AFS, making it unable to declare dividends. Updates on dividend will be disclosed as necessary.

On item (4), Based on Section 1, Article II of the By-Laws of the Corporation, its annual shareholders' meeting shall be held "on the second Tuesday in May of each year." For 2022, said date falls on May 10. Since this is a day right after the Philippine national and local elections, the Corporation shall hold its Meeting earlier than the said date or on May 6, Friday, subject to the approval of the Securities and Exchange Commission. This will ensure orderly and efficient preparation for the Meeting and provide us and our stakeholders (including our shareholders) an opportunity to focus on the exercise of our civic duty on May 9. Moreover, to protect the health and safety of participants of the Meeting, the Meeting will be conducted virtually. Closing of Stock and Transfer Book is set on 08 April 2022 to determine the list of stockholders entitled to the Notice of Annual Stockholders' Meeting. Further details will be disclosed promptly.

On item (5)(b), amendments to the Related Party Transaction Policy was approved by the Board upon the endorsement of the Related Party Transaction Committee.

Other Relevant Information

Please refer to the attached SEC Form 17-C.

Filed on behalf by:
Name Ellie Chris Navarra
Designation Corporate Secretary

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Pilipinas Shell Petroleum Corporation published this content on 25 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 23:55:01 UTC.