C00151-2025

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)
Jan 10, 2025
2. SEC Identification Number
CS201807415
3. BIR Tax Identification No.
010-007-383-000
4. Exact name of issuer as specified in its charter
Citicore Renewable Energy Corporation
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
0288265698
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 8,928,572,143
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 Renewable Energy CorporationCREC

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Indonesia’s Pertamina New & Renewable Energy establishes partnership with Citicore Renewables
Background/Description of the Disclosure

Indonesian State-Owned Enterprise Subsidiary PT Pertamina Power Indonesia (Pertamina New & Renewable Energy or simply Pertamina NRE), forays into the Philippines through a strategic partnership with Philippine pure-play renewable energy company Citicore Renewable Energy Corporation (CREC) through a landmark share subscription agreement.

Pertamina NRE will subscribe to a 20% interest in CREC, equivalent to 2,232,143,036 CREC common shares, at PhP3.00 per share, raising an estimated value of PhP6,696,429,108.00 or approximately US$115 million.

The partnership with CREC marks Pertamina NRE’s first investment in the Philippines and their entry to the country’s booming renewable energy investment climate, now ranked second most attractive emerging market for renewable energy investment by BloombergNEF.

Pertamina NRE also gains access to CREC’s unique expertise in project development, and engineering, procurement and construction, or EPC. CREC, meanwhile, gains the opportunity to partner with Pertamina NRE to develop renewable energy projects in Indonesia, allowing for the company’s potential expansion in the region.

“The partnership with Pertamina NRE presents limitless opportunities for Indonesia and the Philippines to collaborate on innovative technologies and practices in renewable energy. It gives a wider stage to CREC’s unique end-to-end capabilities by opening doors in Indonesia even as we drive our developments in the Philippines at full speed,” said Oliver Tan, CREC President and CEO.

Proceeds from the agreement will contribute to the development of CREC’s pipeline of renewable energy projects nationwide in line with its goal of contributing approximately 1 gigawatt (GW) of green energy capacity per year as part of its 5GW in 5 years roadmap.

With Southeast Asia seen as a driver in the demand growth for renewable energy worldwide, the strategic partnership between CREC and Pertamina NRE will benefit both the Philippines and Indonesia in accelerating national as well as regional renewable energy goals.

AlphaPrimus served as the financial adviser to CREC for this transaction.
Other Relevant Information

Please refer to the attachment for the amended press release which contains a disclaimer on forward looking statements.
Filed on behalf by:
Name Steven Sy
Designation Corporate Legal Counsel