C00900-2025

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)
Feb 17, 2025
2. SEC Identification Number
C199800134
3. BIR Tax Identification No.
200-652-460-000
4. Exact name of issuer as specified in its charter
ABOITIZ POWER CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
32nd Street, Bonifacio Global City, Taguig City, Metro Manila, Philippines Postal Code 1634
8. Issuer's telephone number, including area code
(02) 8 886-2800
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 Stock P1 Par Value 7,205,854,307
Amount of Debt Outstanding (As of Sept. 30, 2024) 240,111,729,000.00
11. Indicate the item numbers reported herein
9

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.

Aboitiz Power CorporationAP

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

SNAP secures funding for battery energy storage projects
Background/Description of the Disclosure

SN Aboitiz Power Group (SNAP) has secured financing for the expansion of its Battery Energy Storage Systems (BESS) from the Bank of the Philippine Islands (BPI), China Banking Corporation (Chinabank), and Banco de Oro Unibank, Inc. (BDO). The BESS projects will be co-located with the Magat hydroelectric power plant in Isabela and the Binga hydroelectric plant in Benguet.

At a ceremonial signing held on February 17, 2025, BPI and Chinabank are set to finance the 16-megawatt (MW) Magat BESS Phase 2, while BPI and BDO will provide financing for the 40-MW Binga BESS.

“We are proud to reach these milestones in the development of our energy portfolio,” said Joseph Yu, SNAP President and Chief Executive Officer. “SNAP is scaling up its BESS initiatives with Magat BESS Phase 2 and the first BESS in Benguet. BESS will provide much-needed storage capacity to support the integration of renewable energy and improve grid reliability. This also aligns with the Philippines' efforts to meet the country’s renewable energy targets. These projects highlight SNAP's commitment to providing innovative and sustainable energy solutions.”

SNAP’s upcoming BESS projects are expected to be completed by 2026. The engineering, procurement, and construction (EPC) contracts for both Magat BESS Phase 2 and Binga BESS have been awarded to GEDI China Energy, a subsidiary of China Energy Engineering Group.

A BESS is a type of energy storage system that uses a set of batteries to store electrical energy from the grid and releases it when needed to augment supply or improve power quality. It helps stabilize the grid by managing fluctuations in renewable energy generation, ensuring a more reliable and efficient electricity system.

SNAP’s first energy storage project, the 24-MW Magat BESS, began commercial operation in the reserve market for ancillary services in January 2024.

Please see attached press release for further info.
Other Relevant Information

DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect the implementation of the project subject of this disclosure. The forward-looking statements contained in this disclosure are based upon what management of the Company believes are reasonable assumptions at the date of this disclosure. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Filed on behalf by:
Name Frances Katrina Arsua
Designation Corporate Governance and Legal Operations Manager