Energy Development : Advisement Letter on Updates to the 2016 Annual Corporate Governance Report

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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)

May 23, 2016

JANET A. ENCARNACION

HEAD, Disclosures Department The Philippine Stock Exchange, Inc. Philippine Stock Exchange Plaza

Ayala Triangle, Ayala Avenue, Makati City Dear Ms. Encarnacion:

In compliance with the disclosure requirements of the Philippine Stock Exchange, we

submit the SEC Advisement letter on the Updates to the 2016 Annual Corporate Governance Report.

COVER SHEET‌

I I I I I I I &I & I 31 s1 11

SEC Registration Number

I E l NI E l RI GI vi I DI E l v i E l L I ol P l Ml E l NI T l I c l ol RI P l ol RI A l T l I I o l Nj I I I I I I I I I I I I

I I I I I I I I I I I I I I I I I I I I

(Company's Full Name)

I I I I I

31 8 T l HI I F 0 0 r Ol n l e I C l O r p l o r a t e l

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Mle r I a I II c 0 A y e . I olr T l i I g as l c ent I e I r P l a s I i I g I ci t y II I I I I

(Business Address: No.,Street City / Town I Province)

Atty. Ana Marla A. Katigbak 817-6791

Contact Person Company Telephone Number

SEC Letter Advisement re: 201 6 Annual Corporate Governance Report (ACGR) Updates

1 1 I 2 I I 3 I 1 I

Month Day

Fiscal Year

FORM TYPE

Secondary License Type, f Applicable

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Month Day

Annual Meeting

Dept Requiring this Doc Amended Articles Number / Section

------T'-.o..;;_tal A-'-m--:o..u. nt of Borrowings

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Total No. of Stockholders Domestic Foreign

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To be accomplished by SEC Personnelconcerned

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File Number LCU

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Document ID

STA M PS

cashier

Remarks: Please use BLACK ink for scanning purposes

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Energy Development Corporation

30th Floor, One Corporate Centre Building,Julia Vargas corner Meralco Avenue. Ortigas Center, Pasig City 1605, Philippines

Trunkl nes: +63 (2) 667-7332 (PLOT) I +63 (2) 755-2332 (Globe)

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AnY. JUSTINA F. CALLANGAN

Director

Corporate Governance and Finance Department Securities and Exchange Commission

SEC Building,EDSA, Greenhills Mandaluyong City, Metro Manila

Subject: Advisement letter on Updates to EDC's 2016 Annual Corporate Governance Report

Dear Director Callangan,

The Energy Development Corporation (EDC) hereby informs the Commission that in view of the recently-held EDC Annual Stockholders' Meeting last May 12, 2016, we have updated our 2016 Annual Corporate Governance Report (ACGR), particularly on board and committee composition, directorships in other companies within the Group, orientation and training program, matters appearing in the Annual Report,and results of the Annual Stockholders' Meeting,among others.

The corresponding updates to the company's ACGR in the company website (www.energy.com.ph) shall be made upon submission of this advisement letter.

Yours truly,

--d

. l ( r.--:

Erwin O. Avante

Vice-President and Compliance Officer

1

1. BOARD MATTERS

1. Board of Directors

   Number of Directors per Articles of Incorporation	ELEVEN (11)
   Actual number of Directors for the year	ELEVEN (11)

2. Composition of the Board

3. Complete the table with information on the Board of Directors

   Director's Name	Type [Executive (ED), Non- Executive (NED) or Independent Director (ID)]	If nominee, identify the principal	Nominator in the last election (if ID, state the relationship with the nominator)	Date first elected	Date last elected (if ID, state the number of years servedas ID)1	Elected when (Annual /Special Meeting)	No. of years served as director **
   OSCAR M. LOPEZ	ED	N/A	Red Vulcan Holdings Corporation	Nov. 2007	May 12, 2016	Annual	NINE (9)
   FEDERICO R. LOPEZ	ED	N/A		Nov. 2007	May 12, 2016	Annual	NINE (9)
   RICHARD B. TANTOCO	ED	N/A		Nov. 2007	May 12, 2016	Annual	NINE (9)
   FRANCIS GILES B. PUNO	NED	N/A		Nov. 2007	May 12, 2016	Annual	NINE (9)
   ERNESTO B. PANTANGCO	ED	N/A		Nov. 2007	May 12, 2016	Annual	NINE (9)
   JONATHAN C. RUSSELL	NED	N/A		Nov. 2007	May 12, 2016	Annual	NINE (9)
   PETER D. GARRUCHO, JR.	NED	N/A		Nov. 2007	May 12, 2016	Annual	NINE (9)
   JOAQUIN E. QUINTOS IV*	NED	N/A		Nov. 25, 2015	May 12, 2016	Annual	ZERO (0)
   EDGAR O. CHUA**	ID	N/A	Veronica Villanueva / NO RELATION	July 2010	May 12, 2016 /5 years	Annual	SIX (6)
   FRANCISCO ED. LIM**	ID	N/A	Farley Cuizon/ NO RELATION	July 2010	May 12, 2016 /5 years	Annual	SIX (6)
   ARTURO T. VALDEZ**	ID	N/A	Jerry J. Jimenez/ NO RELATION	July 2011	May 12, 2016 /4 years	Annual	FIVE (5)

   * Director Joaquin E. Quintos IV was first elected to the Board of Directors of EDC on November 25, 2015, in view of the vacancy created by the retirement of Director Elpidio L. Ibañez.

   ** Pursuant to SEC Memorandum Circular No. 9, series of 2011, on the term limits of independent directors, EDC's independent directors are still eligible for re-election until 2016, after which the mandatory cooling- off period shall apply.

4. Directorship in Other Companies

5. Directorship in the Company's Group2
6. Identify, as and if applicable, the members of the company's Board of Directors who hold the office of director in other companies within its Group:

   2 The Group is composed of the parent, subsidiaries, associates and joint ventures of the company.