On 7 August 2014, PLDT and Rocket announced a global strategic partnership to drive
the development of innovative online payments solutions in emerging markets. Under
the terms of the partnership agreement, PLDT would invest €333 million in Rocket. Of
this amount, 50% has already been paid. Following the announcement of Rocket’s
intention to proceed with the IPO, PLDT will now pay in full the remaining 50% of its
investment in Rocket.

The Rocket IPO is intended to take place later in 2014. The Offer, if pursued, is
expected to consist solely of new shares from a capital increase. The new shares will
be of the same class and bearing the same rights as shares held by current Rocket
shareholders.

Currently, the shareholders consist of Global Founders GmbH (“Global Founders”,
which is the investment vehicle of Oliver Samwer, the founder and CEO of Rocket, and
his brothers), Investment AB Kinnevik (“Kinnevik”), Access Industries (“Access”),
Philippine Long Distance Telephone Company (“PLDT”), United Internet (“UI”) and HV
Holtzbrinck Ventures (“HV”). All existing shareholders of Rocket Internet will remain
invested and will not sell any shares as part of the offering. All six shareholders have
signed lock up commitments not to sell or otherwise dispose of their shares for at least
twelve months.

Rocket intends to use the proceeds from the IPO to finance its future growth through
the launch of new businesses and providing further equity capital to its network of
companies.