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 12, 2026

2. SEC Identification Number

30939

3. BIR Tax Identification No.

058-330-000

4. Exact name of issuer as specified in its charter

Philippine National Construction Corporation

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

PNCC Complex KM15 East Service Road Bicutan, Parañaque City Postal Code 1700

8. Issuer's telephone number, including area code

88460209

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	174,444,759

11. Indicate the item numbers reported herein

16-1

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.

Philippine National Construction CorporationPNC

PSE Disclosure Form 16-1- Update on Corporate Actions/
Material Transactions/Agreements References: SRC Rule 17 (SEC Form 17-C) and
Section 16 of the Revised Disclosure Rules

Subject of the Disclosure
Update on Corporate Actions / Material Transactions/Agreements
Background/Description of the Disclosure
Updates on Southeast Metro Manila Expressway - Skyway Stage 4 Project.
Other Relevant Information
We write in reference to your request for update and clarification on the following: 1) The current status of any application, submission, evaluation, or endorsement before the Toll Regulatory Board (TRB) and any other relevant government agency, in relation to the increase in the proposed project-cost adjustment that was disclosed; 2) Whether the referenced cost figure is final, pending regulatory approval, or subject to further review by the relevant government agencies; and 3) Any additional information necessary to ensure that the February 2025 disclosure remains complete, accurate, and up to date. As per PNCC's partner in the project, San Miguel Corporation (SMC), it already submitted a written reply dated 22 December 2025, pertaining to the subject matter and PNCC confirms the statements made by SMC pertaining to the increase in the proposed project-cost adjustment that was previously disclosed by PNCC. Be that as it may, we clarify that the originally disclosed project cost for the Skyway Stage 4 Project in the amount of approximately Php45.27 Billion was based on 2019 price levels. On the other hand, the updated project cost of approximately Php55.87 Billion reflects current, updated prices. Such an increase is primarily attributable to inflation, updated unit costs, and refinements in project scope consistent with prevailing market conditions. To date, the reference project cost of approximately Php55.87 Billion represents the current estimate based on updated prices and assumptions. This amount is not final and remains subject to review, evaluation, and approval by the TRB and other relevant government agencies, as may be required under applicable regulations. The increase in the disclosed project cost does not, at this time, alter the fundamental nature, scope, or objectives of the project.