Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 22

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 location change has caused that the entire KPC Process and
administration had to be adapted and redone with renewed financial input, mostly carried by Mr. Smet.

Once
the Company has effectuated all budgeting and all financial requirements and obligations, the ongoing process will effectively materialize
and Mr. Smet then shall transfer the entire venture to Philux Global Group, Inc.

5.
Investment Commitment AgreementS WITH Saigon Silicon City JSC

On
February 21, 2023, Philux Global Group Inc. (a/k/a PHI Group, Inc.) and its subsidiaries Philux Global Funds SCA, SICAV-RAIF and Philux
Global Vietnam Investment and Development Company, Ltd., (collectively referred to as “the Investor”) signed an Investment
Commitment Agreement with Saigon Silicon City Joint Stock Company (“SSC”) whereby the Investor is committed to providing
or causing to be provided a total of five hundred million U.S. dollars (USD 500,000,000) for investment in Saigon Silicon City for the
first phase of construction and subsequent additional capital as needed to complete its entire development and investment program over
a 52-hectare of land at Lot I6 & I7, Road D1, Saigon High Technology Park, Long Thanh My Ward, District 9, Ho Chi Minh City, Vietnam.

According
to the Investment Commitment Agreement, within thirty days of the signing of this Agreement, the Investor will provide or cause to be
provided fifty million U.S. dollars (USD 50,000,000) for SSC to resume the implementation of its building plan. Additional tranches of
fifty million U.S. dollars (USD 50,000,000) will be released to SSC at regular intervals as needed to ensure uninterrupted construction
progress. Both Parties shall determine and stipulate the terms and conditions for the Investment Commitment in writing prior to the release
of funds to SSC. Upon the signing of this Agreement, SSC shall make a deposit of Five Hundred Thousand U.S. Dollars (USD 500,000) with
the Investor as earnest money for legal, administrative and processing fees in connection with the Investment Commitment Agreement. This
amount will be fully refundable to SSC if the Investor fails to fulfill its commitment as mentioned in the Agreement. The Investor intends
to use a portion of the financing commitments from certain international institutional and ultra-high net worth investors for investment
in Saigon Silicon City.

Effective
March 21