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)

May 18, 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:

We write in compliance with the PSE's request for clarification as regard the news article entitled "EDC to refinance P3.5-loans" posted in Manila Bulletin (Internet Edition) on May 17, 2016. The article reported in part that:

"Lopez-led firm Energy Development Corporation (EDC) is scheduled to refinance some P3.5 billion worth of loans by the end of this year, according to a company executive.

According to EDC vice president for finance Erwin O. Avante, the credit facility to be refinanced would be the peso retail bonds

'That's the seven-year bond issued in December, 2009,' he said, albeit noting that they do not have definite banks being tapped yet for the refinancing activity.

. . . ."

We confirm that all quoted statements in the news article are accurate.

Energy Development Corporation published this content on 18 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 May 2016 05:25:11 UTC.

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