C02038-2023

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Mar 20, 2023
2. SEC Identification Number
CS201010780
3. BIR Tax Identification No.
007-813-849-000
4. Exact name of issuer as specified in its charter
Citicore Energy REIT Corp.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
11F Rockwell Santolan Town Plaza, 276 Col. Bonny Serrano Avenue, San Juan City Postal Code 1500
8. Issuer's telephone number, including area code
(02) 8826-5698
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 6,545,454,004
11. Indicate the item numbers reported herein
Item 9 - Other Events

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Citicore Energy REIT Corp.CREIT

PSE Disclosure Form REIT-3 - Material Information/Transactions
References: Rule 5 of the IRR of the REIT Act of 2009 and
Section 6 of the Amended PSE Listing Rules for REITS

Subject of the Disclosure

Receipt of Citicore Energy REIT Corp. ("CREIT" or the "Company") on 17 March 2023, of a Notice of Arbitration filed under the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC”) with Enfinity Philippines Technology Services Inc. (“EPTSI”) and Enfinity Asia Pacific Limited (“EAPL”) as claimants.

Background/Description of the Disclosure

On 20 August 2015 or three years prior to Citicore Renewable Energy Corporation’s (“CREC”) acquisition, Enfinity Philippines Renewable Resources, Inc. or “EPRRI” (now CREIT) entered into Services Agreements with EPTSI and EAPL in connection with the development of the Concepcion Solar Power Project (the “Concepcion Project”) located in Barangay Sta. Rosa, Municipality of Concepcion, Province of Tarlac. However, various disputes arose between the parties relating to the Concepcion Project and consequently, they agreed to terminate the Services Agreements. For the said purpose, the parties executed agreements (“Settlement Agreements”) for the termination of the Services Agreements and settling the disputes among them. Unfortunately, some of the terms and conditions of the Settlement Agreements remained unresolved even after CREC acquired EPRRI in 2018. These unresolved matters prompted the filing of an action for arbitration with EPTSI and EAPL claiming unpaid settlement amount of Five Hundred Four Thousand U.S. Dollars (USD504,000.00) and Four Million Five Hundred Thirty-Six Thousand U.S. Dollars (USD4,536,000.00), respectively.

Noteworthy, a Letter of Indemnity Agreement among EPRRI and its previous owners Sindicatum Renewable Energy Pte Limited (“SREPL”) and Sindicatum Renewable Energy Holdings Philippines, Inc. (“SREHPI”) executed in 2018 whereby SREPL and SREHP agreed to indemnify EPRRI for any liability arising out of or in connection with any third-party claim against EPRRI in relation to the Concepcion Project; and EPRRI shall have no other obligation with respect to the Concepcion Project.

Other Relevant Information

None.

Filed on behalf by:
Name Jaime Del Rosario
Designation Corporate Secretary and Chief Information Officer