Energy Development : EDC Board Approval of Voluntary Delisting Tender Offer

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 7, 2018

JANET A. ENCARNACION

Head, Disclosure Department

The Philippine Stock Exchange, Inc.

PSE Tower, 28th Street corner 5th Avenue Bonifacio Global City, Taguig City

Dear Ms. Encarnacion:

We advise that the Board of Directors of ENERGY DEVELOPMENT CORPORATION (the Company) approved today the voluntary delisting (the Delisting) of the common shares of the Company from the Main Board of the Philippine Stock Exchange, Inc. (PSE) and, in relation thereto and in accordance with the delisting rules of the PSE, the conduct by the Company of a tender offer for up to 2,040,006,713 common shares held collectively by all shareholders of the Company other than Red Vulcan Holdings Corporation (Red Vulcan), First Gen Corporation (First Gen), Northern Terracotta Power Corp. (NTPC), and Philippines Renewable Energy Holdings Corporation (PREHC), at the tender offer price of Seven and 25/100 Pesos (P7.25) per common share, subject to certain terms and conditions as now or hereafter set forth by the Company.

The Tender Offer Report (in the form of SEC Form 19-1, including its annexes, exhibits and schedules) will be filed with the Securities and Exchange Commission and the PSE on or before the commencement of the tender offer on 25 September 2018. It shall contain, among others, the terms and conditions of the tender offer. Copies of the Tender Offer Report and the relevant tender offer materials will be sent to each common shareholder separately.

Very truly yours,

Ryan Z. Velasco

Head of Investor Relations

& Corporate Information Officer

cc:

VINA VANESSA S. SALONGA

Head - Issuer Compliance and Disclosure Department (ICDD) Philippine Dealing & Exchange Corp.