INVESTOR FACT SHEET FY 2016

AS OF DECEMBER 31, 2016

PSE: EDC

Bloomberg: EDC PM

A DIVERSIFIED RENEWABLE ENERGY COMPANY

Energy Development Corporation is the largest integrated steam and geothermal power producer in the

world, with over four decades of hands-on experience for the entire geothermal value chain -- from

exploration and development all the way to electricity production. Given the favorable industry dynamics in

the Philippines today, it is now also venturing into the development of other RE sources of energy.

“Defensive qualities” inherent to its business model and operations make EDC a defensive and value play that

is difficult to ignore.

www.energy.com.ph

OUR POWER GENERATING ASSETS

150.0 MW Burgos

7.85 MW Solar

120.0 MW Pantabangan

12.0 MW Masiway

120.0 MW Bacman I

20.0 MW Bacman II

112.5 MW Tongonan

112.5 MW Palinpinon I

60.0 MW Palinpinon II*

125.0 MW Upper Mahiao

232.5 MW Malitbog

180.0 MW Mahanagdong

50.9 MW Optimization

49.4 MW Nasulo

52.0 MW Mindanao I

54.0 MW Mindanao II

Note: *20 MW Nasuji Power Plant placed on preservation

1

1

1

2

3

1

3

2

1

Wind

Hydro

Solar

Geothermal (EDC Subsidiary)

Geothermal (Integrated)

1 1

1

1

1 2

2 3

3

INSTALLED CAPACITY

1,457.8 MW COL Financial Group

George Ching

BUY

8.34

Deutsche Regis Partners

Gio dela Rosa

BUY

8.40

JPMorgan Securities

Ajay Mirchandani

NEUTRAL

6.30

Macquarie Securities

Karisa Magpayo

OUTPERFORM

7.80

Morgan Stanley

Mayank Maheshwari

OVERWEIGHT

7.38

Nomura

Dante Tinga

NEUTRAL

6.50

Philippine Equity Partners

Rafael Javier

BUY

6.20

RCBC Securities

Jeremy Yumul

BUY

7.50

UBS Securities

Karen Hizon

BUY

6.80

Unicapital Securities, Inc.

Jonathan Latuja

BUY

7.44

Wealth Securities

Laura Dy-Liacco Santos

HOLD

6.10

ANALYST COVERAGE

CONTACT INFORMATION

Corporate Address:

38th Floor, One Corporate Centre

Julia Vargas cor. Meralco Avenue,

Ortigas Center, Pasig City, 1605 PH

Investor Relations:

Erudito Recio,

+ 63 (2) 982 2140

Ryan Velasco,

+63 (2) 982 2184

Jamica Brillante,

+63 (2) 755 2332 loc. 2620

E-mail:

investors@energy.com.ph

Customer Segment

14.5 Bn DUs

12.9 Bn NPC

3.2 Bn WESM

2.8 Bn TransCo

0.8 Bn NGCP

Technology Platform

1,169 MW Geothermal

150 MW Wind

132 MW Hydro

6.82 MW Solar

INVESTOR FACT SHEET FY 2016

AS OF DECEMBER 31, 2016

PSE: EDC

Bloomberg: EDC PM

A DIVERSIFIED RENEWABLE ENERGY COMPANY

www.energy.com.ph

24,540

28,369

25,656

30,867

34,360 34,236

13,238

17,330 15,641

17,922 18,680 20,736

4,459

8,522 6,568

9,197 8,798 9,155

2011 2012 2013 2014 2015 2016

REVENUES

EBITDA

RNIA

Derivative Transactions

70.0 % Hedged 2016-17 US$ Debt Service

Interest rate reduction

initiatives

6.2 % p.a. Interest Rate for 2016

Addressing lumpy

principal payments

68% of Total Debt Amortizing Repayment

FY 2016 FINANCIAL HIGHLIGHTS

DELIBERATELY MANAGING FINANCIAL RISKS

Financial Results: • Revenue = flat at Php34.2 bn

• EBITDA = up 11% to Php20.7 bn

• RNIA = up 4% to Php9.2 bn

• Gearing level comfortably at 1.3 times

debt to equity and 3.6 times net debt to

EBITDA, on consolidated basis.

Operating Highlights: • 1% increase in electricity production

from 8,441 to 8,531 GWh

• 90% of revenue derived from long-term

contract agreements

Capital Structure: • 18,737,010,000 – Common shares

• Php 96,496 Mn – Market Capitalization

• Php 10,600 Mn – Cash and cash

equivalents

• Php 135,806 Mn – Total Assets

• Php 62,229 Mn – Long-term Debt

60%

71% 70% 71%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

0

20

40

60

80

100

120

2014 2015 2016 2017E

Hedged Unhedged

US$ Mn

DEBT SERVICE REQUIREMENT INTEREST RATE LOANS BY REPAYMENT SCHEDULE

71% hedged Reduced to 5.8% Smoothened lumpy principal payments

52%

66% 68% 72%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

0

20

40

60

80

100

120

2014 2015 2016 2017E

Amortizing Bullet

PhP Bn

5.9% 6.3% 6.2%

5.8%

1%

2%

3%

4%

5%

6%

7%

0

20

40

60

80

100

120

2014 2015 2016 2017E

Total Debt

PhP Bn

E* = estimated % assuming no new financing

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

INVESTOR FACT SHEET FY 2016

AS OF DECEMBER 31, 2016

PSE: EDC

Bloomberg: EDC PM

A DIVERSIFIED RENEWABLE ENERGY COMPANY

Our focus on generating clean, renewable energy is motivated by our commitment to be carbon positive

and to minimize our negative impact on the environment. We maintain healthy watersheds through our

biodiversity conservation efforts, and the stakeholder engagements that allow us to share our values

with the community. We use our resources with circumspection and follow rigorous environmental

standards. We try to be as efficient as possible, and aim to improve our operational performance each

year. Thus, we hope to transform our world into a low-carbon world.

www.energy.com.ph

OUR ENVIRONMENTAL PERFORMANCE

806,117 CO2 equivalent for

EDC 2016 generation

6,057,282 CO2 equivalent if heavy oil

was used to generate the

same amount of power

8,275,442 CO2 equivalent if coal

was used to generate the

same amount of power

5,251,165 CO2 avoided in lieu

of other fossil fuels

7,469,325 CO2 avoided

in lieu of coal

0.170

0.008

0.110

0.040

0.090

0.001 -

0.050

0.100

0.150

0.200

BacMan Ilocos

Norte

Leyte Mount

Apo

Negros

Island

Nueva

Ecija

Carbon Intensity (in tons CO2 per MWh)

Our Carbon Footprint (in tons CO2)

Our power plants have lower carbon emissions intensity compared to the Luzon-Visayas grid of 0.60 ton CO2/MWh and Mindanao grid of 0.29 ton CO2/MWh.

ATTAINING A LOW-CARBON OPERATION IS THE ONLY ACCEPTABLE RESPONSE TO CLIMATE CHANGE.

Source: EDC’s 2016 Performance Report

9.3x more

6.5x more

INVESTOR FACT SHEET FY 2016

AS OF DECEMBER 31, 2016

PSE: EDC

Bloomberg: EDC PM

A DIVERSIFIED RENEWABLE ENERGY COMPANY

EXECUTIVE MANAGEMENT

Mr. Vasay, Filipino, is the Chief Financial Officer and Treasurer of the Company since October 2010. He has been

with the Lopez Group since 1997 and held appointments with First Gen Corp. under various capacities including his

current position as Senior Vice President. Prior to joining First Gen Corp., he worked with Metropolitan Bank and

Trust Company, Chase Manhattan Bank and International Exchange Bank where he held key executive positions

responsible for the credit review of institutional and corporate clients, portfolio management, risk management

and Treasury and F/X Operations.

Mr. Vasay holds a Diploma in International Executive Management from Chartered Management Institution of

Ashridge Berkhamsted-London (2006). He earned his Bachelor’s Degree in Business Administration from the

Angeles University (1976), and passed the Philippine Government Board Examinations for Certified Public

Accountant (CPA) a year later.

Mr. Lopez, Filipino, is Chairman and Chief Executive Officer of Energy Development Corporation (EDC), First

Philippine Holdings Corporation (FPH) and First Gen Corporation (First Gen). EDC and First Gen are publicly listed

power generation companies that are into clean and indigenous energy. He is currently the Vice Chairman of

Rockwell Land Corporation and also sits on the board of ABS-CBN Corporation, the Philippines’ leading

information and entertainment multimedia conglomerate.

A staunch environmentalist, he is the Chairman of the Sikat Solar Car Challenge Society and is a member of the

Board of Trustees of World Wildlife Fund Philippines (WWFPhilippines) and Philippine Tropical Forest Conservation

Foundation.

Mr. Lopez is a member of the Asia Business Council, World Presidents Organization, ASEAN Business Club,

Management Association of the Philippines, Philippine Chamber of Commerce and Industry, European Chamber of

Commerce of the Philippines and Makati Business Club.

Mr. Federico R. Lopez is a graduate of the University of Pennsylvania with a Bachelor of Arts degree in Economics

and International Relations, cum laude (1983).

Mr. Tantoco, Filipino, is the President and Chief Operating Officer (COO) of EDC and has been a Director of the

Company since November 2007. He is also a Director and Executive Vice President (EVP) of First Gen Corp., First

Gen Luzon Power Corp., First Gen Hydro Power Corp., First Gen Geothermal Power Corp., First Gen Visayas Hydro

Power Corp., First Gen Mindanao Hydro Power Corp., First Gen Energy Solutions, Inc., First Gen Premier Energy

Corp., Red Vulcan Holdings Corp., First Gen Visayas Energy, Inc., First Gen Prime Energy Corp., First Gen

Renewables, Inc., Blue Vulcan Holdings Corp., Northern Terracotta Power Corp., Prime Meridian Powergen Corp.,

OneCore Holdings, Inc., DualCore Holdings, Inc., GoldSilk Holdings Corp., First Gas Holdings Corp., First Gas Power

Corp., FGP Corp., First Gas Pipeline Corp., First NatGas Power Corp., AlliedGen Power Corp. and FGLand Corp; and

EVP of First Gen Bukidnon Power Corp., Unified Holdings Corp., First Gen Northern Energy Corp., and First

Philippine Holdings. He is currently the President and Trustee of the Oscar M. Lopez Center for Climate Change

Adaptation and Disaster Risk Management Foundation, Inc. He has been a Director of the International Geothermal

Association since 2010. He worked previously with management consulting firm Booz, Allen and Hamilton, Inc. in

New York and London where he specialized in mergers and acquisition advisory, turnaround strategy advisory, and

growth strategy formulation for media and manufacturing companies.

Mr. Tantoco has an MBA in Finance from the Wharton School of Business of the University of Pennsylvania (1993)

and a Bachelor of Science degree in Business Management from the Ateneo de Manila University where he

graduated with honors (1988).

FEDERICO R. LOPEZ Chairman and CEO

RICHARD B. TANTOCO President and COO

NESTOR H. VASAY Senior Vice-President, Chief Finance Officer/Corporate Treasurer,

Head - Finance and Shared Services Group

www.energy.com.ph