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)

August 26, 2014

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 advise the Exchange of following developments covering Units 1, 2 and 3 of the 130MW Bacman Power Project.

Recall that the 55MW Bacman Units 1 & 2 went on unplanned outage due to damage caused by

Typhoon Glenda last July 15, 2014. At that time Unit 3 was on a planned outage.

Unit 1

The typhoon damaged cooling tower is now operational and Unit 1 has attained its rated load of
55MW.

Unit 2

The cooling tower restoration works is still-ongoing and is being carried out concurrently with the installation of a brand new Toshiba steam turbine rotor unit and diaphragms (referred to as the "Permanent Fix"). The unit is expected to be in operation in October 2014.

Unit 3

Unit 3 has attained a stable load of ~18MW and is currently on a 30-day reliability run following the installation of a brand new Toshiba generator. Recall that the unit went on planned outage
for the installation of the new generator unit.

We shall notify the Exchange of further developments relating to the Bacman units.

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