Discovery World Acquires Additional Shares in Balay Holdings, Inc. for P7.2 Million

The Board resolved to increase Discovery World Corporation's (DWC) subscription by Seven Million Two Hundred Thousand (7,200,000) shares of Balay Holdings, Inc.(BHI) with a par value of One Peso (P1.00) per share or a total of Seven Million Two Hundred Thousand Pesos (P7,200,000.00) to be used as working capital.

This additional subscription is conditioned upon the application and approval of the increase in Authorized Capital Stock of BHI from Three Million Two Hundred Thousand Pesos (P3,200,000.00) to One Hundred Thirty Million Pesos (P130,000,000.00).

This acquisition is in line with DWC's business and will create opportunities for expansion of the Corporation's resort
business.

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: 7,200,000
Percentage to the total outstanding shares of the company subject of the transaction: 5.54%
Price per share: P 1.00

Engaging in property holdings, Balay Holdings, Inc. (BHI) was incorporated and registered with the SEC on 11 September 2017. It owns properties located Brgy. Danat, El Nido, Palawan, Brgy. Conseulo, Siargao, Surigao Del Norte, and Little Baguio, San Vicente, Palawan. These properties are being developed for, among others, staff housing for future developments of the DWC Group in their respective locations.

Balay Holdings, Inc. is a wholly-owned subsidiary of DWC.

Discovery World Corporation (DWC) is a subsidiary of JTKC Equities Inc., a holding company with interests in property development, hospitality management, banking services, and manufacturing operations.