October 15, 2008

Energy Development Corporation

38th Floor, One Corporate Centre Building, Julia Vargas corner Meralco Avenue

Ortigas Center, Pasig 1605, Philippines

Trunklines: +63 (2) 667-7332 (PLDT) / +63 (2) 755-2332 (Globe)


July 2, 2015

JANET A. ENCARNACION

HEAD, Disclosures Department
The Philippine Stock Exchange, Inc. Philippine Stock Exchange Plaza
Ayala Triangle, Ayala Avenue, Makati City
Dear Ms. Encarnacion:
We write in compliance with the PSE's request for clarification for the news article entitled "Energy Producer to Invests Php58B in Leyte Geothermal Field." The article reported in part that:
"Ormoc City - The largest producer of geothermal energy in the country, Energy Development Corp. (EDC) will spend P58 billion in the next 25 to 30 years for the expansion of its Leyte Geothermal Project (LGP).
The company, which is the second largest of its kind in the world, announced in a recent public consultation that it intends to expand its steam field production in Leyte by adding 7,106 hectares to the current 7,400 hectares, coming up with a total of 14,506 hectares."

We confirm the following:

The information mentioned in the news article was presented during a public consultation conducted last June 17 to 19 for stakeholders of our Leyte Project.

Energy Development Corporation (EDC) seeks to amend its current Environmental Compliance Certificate (ECC) to include additional areas outside the existing geothermal block specifically for the drilling of the required replacement wells over the next 25-30 years.

The Php58.0 Bn estimated development CAPEX over the next 25 to 30 years.

The existing 700 MW, as per the current ECC, will be maintained.

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