Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 28

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 that the Company shall pay the Consultant an additional amount of Twenty-Five Million U.S. Dollars (USD 25,000,000) for the services
mentioned in the above-mentioned Agreements. A schedule of payments shall be mutually agreed upon by both Parties by a separate agreement.

The
foregoing description of the nature and essential points of the afore-mentioned Combined Addendum No. 1 to the Business Development and
Structuring Consultancy Agreement dated June 27, 2024 and the Business Development and Structuring Consultancy Agreement for the Development
and Establishment of an International Financial Center in Vietnam dated July 5, 2024 between Dr. D’ORLEANS DE FRANCE BENEDICT CARL
WILLIAM (f/k/a BEN CARL SMET) and PHI Group, Inc. (n/k/a Philux Global Group Inc.) is qualified in its entirety by reference to the full
text of said Addendum, which was filed as Exhibit 10.1 to the Current Report on Form 8-K with the Securities and Exchange Commission
on November 15, 2024

11.
GRANT AGREEMENT CONTRACT

On
February 17, 2025, the Company signed a Grant Agreement Contract for $10,500,000
with a philanthropic organization
registered under the laws of Dubai, United Arab Emirates, to be used exclusively to fund the Company’s transformative initiatives
at the Asia Diamond Exchange and International Financial Center projects in Vietnam and geomagnetic energy technology initiatives.

On
March 4, 2025 the grant funds were deposited to our Xapo Wallet account, but as
of the date of this report, the Company has not been able to have access to
these funds due to additional due diligence
requirements.

12.
RECEIPT OF GBP 578,010,000 FROM AN INVESTOR GROUP

On
March 18, 2025, we received a total of GBP 578,010,000 (equivalent to US $750,000,000) from a ultra-high-net-worth investor group in
a holding account at Satvie Bank, 1001 Bishopsgate, City of London, EC2N 24AG, United Kingdom. This investment amount was from an Asset
Management Agreement previously reported in Form 8-K’s filed with the Securities and Exchange Commission on February 21, 2024 (https://www.sec.gov/ix?doc=/Archives/edgar/data/704172/000149