C00363-2025

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 21, 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 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Clarification re: the news article posted in BusinessMirror.com.ph
Source BusinessMirror.com.ph
Subject of News Report Citicore ‘most likely’ hiking capex on pipelined projects
Date of Publication Jan 20, 2025
Clarification of News Report

We write in connection with the correspondence posted in PSE EDGE requiring Citicore Renewable Energy Corporation (“CREC” or the “Company”) to clarify and/or confirm the information quoted in the below news article, including, but not limited to, the following:

1. The increase of the Company’s capital expenditure for 2025;
2. The funding of CREC’s capital expenditures through debt and equity, including the possible issuance of new shares for the shelf registration;
3. The relevant details of the foregoing; and
4. The effect of the same on the Company’s business and operations.

The news article entitled "Citicore ‘most likely’ hiking capex on pipelined projects" posted in BusinessMirror.com.ph on January 20, 2025, reported that:

“CITICORE Renewable Energy Corp. will ‘most likely’ increase its capital expenditures (capex) for 2025, as it lines up several projects to bolster its capacity.

In an interview with reporters, Citicore President Oliver Y. Tan said they expect the company to spend more than last year’s P35 billion capex to fund its solar projects.

. . . .

To meet its funding requirements, Citicore plans to tap both the capital markets and debt instruments within the ‘first half’ of the year.

‘We’ll most likely do a shelf registration to streamline future fundraising,’ Tan said in a mix of English and Filipino.

. . . .”

CREC would like to clarify the information in the above-quoted news article as follows:

1. The increase of the Company’s capital expenditure for 2025 - We confirm that the Company will likely have an increase capital expenditure allocation for 2025 as it continues to complete its first 1,000MW projects and prepares its second 1,000MW project pipeline rollout as well as ramping up its Battery Energy Storage System.

2. The funding of CREC’s capital expenditures through debt and equity, including the possible issuance of new shares for the shelf registration; - The Company is still evaluating the most optimal funding mix to fund the above-mentioned capital expenditure and endeavor to make the proper disclosures once this has been finalized. Additionally, the Company would like to further clarify the statement “possible issuance of the new shares for shelf registration”, the Company is referring to possible bond issuance with shelf registration.
Other Relevant Information

Please refer to the attached SEC Form 17C and clarification letter.
Filed on behalf by:
Name Steven Sy
Designation Corporate Legal Counsel