Pursuant to the framework agreement signed on 6 May to develop and operate carrier-neutral data centers across the Philippines, AyalaLand Logistics Holdings Corp. and FLOW Digital Infrastructure entered into agreements to commence the activities of the intended joint venture partnership.

The partnership leverages ALLHC's proven track record in industrial real estate development and FLOW's best-in-class next-generation data center design, development and operational capabilities.
FLOW was launched in 2021 by PAG, a leading alternative investment firm focused on the Asia Pacific with $50 billion in assets under management, including $2 billion in data center assets.

ALLHC's expansion in the data center space is in line with its long-term strategy to broaden its portfolio into complementary new economy segments. This partnership is the latest step in FLOW's ongoing
Asia-Pacific expansion as a platform providing customized solutions to meet the region's growing demand for digital infrastructure.

The joint venture earmarks the delivery of the first data center facility in a hyperscale campus, which is designed to provide total IT capacity of 36MW and expand via modular deployment. The initial roll-out of 6MW is targeted to be ready-for-service by end of 2024.

"We see long-term strategic value in expanding ALLHC's product offering and capabilities to meet the rapidly expanding needs of the digital economy. We view this joint venture as a cornerstone of ALLHC's growth, and we believe this partnership with FLOW will provide the distinct advantage for ALLHC to become the data center provider of choice of global hyperscalers and enterprises in the Philippines," said Patrick C. Avila, chief operating officer.

"The Philippines is at a tipping point to embrace the growth of the digital economy, where digital infrastructure plays a critical role as the foundation of the information and communications technology industry. We are very pleased to be partnered with ALLHC to deliver best-in-class solutions to meet the Philippines' growing demand for high quality, carrier-neutral data center services," said Amandine Wang, CEO, FLOW Digital Infrastructure.

When appropriate, ALLHC will make relevant announcements in accordance with the rules of the Securities and Exchange Commission and the Philippine Stock Exchange.
UBS AG Singapore Branch acted as sole financial advisor to ALLHC on the transaction.