NOTICE

Subject	Citicore Renewable Energy Corporation: Initial Public Offering – Preliminary Terms and Conditions
Company Name	Citicore Renewable Energy Corporation
Mode of Listing	Initial Public Offering

Security Details
Type of Security	Stock Symbol	Par Value
Common Shares	CREC	Php 0.07

Issued Shares (Pre and Post-Offer)
Stock Symbol	Type of Shares	Number of shares Pre-Offer	Number of shares Post-Offer
CREC	Common Shares	7,142,857,143	Up to 8,928,572,143

Outstanding Shares (Pre and Post-Offer)
Stock Symbol	Type of Shares	Number of shares Pre-Offer	Number of shares Post-Offer
CREC	Common Shares	7,142,857,143	Up to 8,928,572,143

Treasury Shares (Pre and Post-Offer) (if applicable)
Stock Symbol	Type of Shares	Number of shares Pre-Offer	Number of shares Post-Offer
-	-	-	-

Primary Offer Shares
Stock Symbol	No. of Shares
CREC	Up to 1,785,715,000

Secondary Offer Shares (if applicable)
Stock Symbol	No. of Shares
-	-

Total Firm Offer Shares
Stock Symbol	No. of Shares
CREC	Up to 1,785,715,000

Over-Allotment or Oversubscription Option Shares (if applicable)
Stock Symbol	No. of Shares
CREC	Up to 267,858,000

Total Shares Applied for Listing
Stock Symbol	No. of Shares
CREC	Up to 8,928,572,143

Offer Price	Up to Php3.88
Market Capitalization (Post-IPO)	Up to Php34,642,859,914.80
TP Allocation	Up to 357,143,000 common shares
Allocation per TP	Up to 2,927,000 common shares
LSI Allocation	Up to 178,572,000 common shares
Estimated Public Float (with Overallotment/Oversubscription)	23.00%
Estimated Public Float (without Overallotment/Oversubscription)	20.00%

Dividend Rate
Stock Symbol	Dividend Rate
N/A	N/A

Total Shares Under Escrow
Stock Symbol	No. of Shares	Duration of Lock-up
CREC	6,874,999,136	180 Days

Parties to the Offer
Function	Name of the Party
Sole Global Coordinator and Joint Bookrunner	UBS AG, Singapore Branch (“UBS”)
Domestic Lead Manager and Joint Bookrunner	BDO Capital & Investment Corporation (“BDO Capital”)
International Co-Lead Underwriter	CLSA Limited
Domestic Co-Lead Underwriter	PNB Capital and Investment Corporation
Domestic Co-Lead Underwriter	RCBC Capital Corporation
Domestic Co-Lead Underwriter	SB Capital Investment Corporation
Participating Underwriter	Investment & Capital Corporation of the Philippines
Financial Advisor	AlphaPrimus Advisors, Inc.
Selling Agents	Trading Participants of the Exchange
Philippine Counsel for the Company	Romulo Mabanta Buenaventura Sayoc & de los Angeles
International Counsel for the Company	Latham & Watkins LLP
Philippine Counsel for the Underwriters	Angara Abello Concepcion Regala & Cruz
International Counsel for the Underwriters	Milbank (Hong Kong) LLP
Stabilizing Agent	UBS and its relevant affiliates
Escrow Agent (IPO Proceeds)	BDO Unibank, Inc. – Trust and Investments Group

Stock Transfer Agent	Stock and Transfer Services, Inc.
Receiving Agent	Stock and Transfer Services, Inc.
Escrow Agent	Development Bank of the Philippines – Trust Banking Group
External Auditor	Isla Lipana & Co.
Price/Dividend Rate Setting Date	May 22, 2024
Start of Offer Period	May 27, 2024
End of Offer Period	May 31, 2024
Tentative Listing Date	Jun 7, 2024
Corporate Website Hyperlink to the Prospectus	https://crec.com.ph/investor-relations/crec-prospectus

Other Relevant Information
The Exchange approved the application Citicore Renewable Energy Corporation (“CREC” or the “Company”) for the initial listing of up to 8,928,572,143 common shares, under the Main Board of the Exchange, which includes the shares subject of the Company’s Initial Public Offering (“IPO” or “Offer”). The IPO of the Company, with an Offer Price of up to Php3.88 per share, consists of the following: 1. Primary Offering consisting of up to 1,785,715,000 common shares to be offered and will be issued to the public on a primary basis; and 2. Over-allotment Option consisting of up to 267,858,000 secondary common shares. Attached is a copy of the signed Preliminary Offer Terms Sheet. The total Shares Under Escrow indicated above are based on the assumption that the Over-Allotment Option Shares are fully subscribed. The Dividend Rate information indicated above is only applicable to follow-on offerings of preferred shares. The Exchange’s approval only relates to CREC’s conduct of the IPO and listing of the Company’s shares and is subject to compliance with any and all of the post-approval conditions and requirements of the Exchange, the Securities and Exchange Commission and other relevant regulatory bodies. The same is without prejudice to any subsequent action that the Exchange may take in relation to the Company’s compliance with applicable rules of the Exchange. This notice is being amended to reflect the various changes in the terms of the Company’s IPO. The Exchange will advise the investing public of further developments on the IPO of the Company. For your information and guidance.

Other Relevant Information

The Exchange approved the application Citicore Renewable Energy Corporation (“CREC” or the “Company”) for the initial listing of up to 8,928,572,143 common shares, under the Main Board of the Exchange, which includes the shares subject of the Company’s Initial Public Offering (“IPO” or “Offer”).

The IPO of the Company, with an Offer Price of up to Php3.88 per share, consists of the following:

1. Primary Offering consisting of up to 1,785,715,000 common shares to be offered and will be issued to the public on a primary basis; and

2. Over-allotment Option consisting of up to 267,858,000 secondary common shares.

Attached is a copy of the signed Preliminary Offer Terms Sheet.

The total Shares Under Escrow indicated above are based on the assumption that the Over-Allotment Option Shares are fully subscribed.

The Dividend Rate information indicated above is only applicable to follow-on offerings of preferred shares.

The Exchange’s approval only relates to CREC’s conduct of the IPO and listing of the Company’s shares and is subject to compliance with any and all of the post-approval conditions and requirements of the Exchange, the Securities and Exchange Commission and other relevant regulatory bodies. The same is without prejudice to any subsequent action that the Exchange may take in relation to the Company’s compliance with applicable rules of the Exchange.

This notice is being amended to reflect the various changes in the terms of the Company’s IPO.

The Exchange will advise the investing public of further developments on the IPO of the Company.

For your information and guidance.

Filed on behalf by:

Name	Norberto Moreno Jr.
Designation	Listings Department