C07255-2026

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)
Oct 7, 2026
2. SEC Identification Number
0000091447
3. BIR Tax Identification No.
0001903240000
4. Exact name of issuer as specified in its charter
Semirara Mining and Power Corporation
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
2/F DMCI Plaza, 2281 Don Chino Roces Avenue, Makati City Postal Code 1231
8. Issuer's telephone number, including area code
8246-2280/8246-2238
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 4,250,547,620
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.

Semirara Mining and Power CorporationSCC

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

SMPC must surrender assets if it bids for Semirara;
No pre-qualification and highest-bid rule likely to result in zero coal output by July
Background/Description of the Disclosure

The bidding rules for Semirara mine require the current operator, Semirara Mining and Power Corporation (SMPC), to list down its complete list of assets and surrender them to the government if it joins the bidding.

“We are the only company covered by this rule. This is unfair and basically bars us from bidding. To require us to surrender ownership of our assets as a condition to bid is against Presidential Decree 972, a special law on coal mining, which clearly says that such assets are ours and we can remove them within one year from the expiration of our operating contract”, SMPC said in a statement.

On the other hand, the other bidders are not pre-qualified and are not required to have any mining experience. The highest financial bid is the sole factor that will determine the award.

“Semirara is no ordinary mine. We are mining in the sea, deeper than the height of the highest building in Makati. We have to pump out the equivalent of 12 Olympic-size swimming pools or Pasig River’s torrent every hour just to get to the coal”, SMPC said.

The end result, it added, is zero coal production when another outfit takes over in July next year and that means zero royalty payment to the government, which defeats the very objective of the bidding to raise as much funds for the government.

SMPC paid P43.4 billion in government share and taxes amounting to P3.7 billion from 2021 to first half of 2026.
Aside from that, it said the winning bidder must by July have procured hundreds of heavy equipment and huge mining trucks, employed thousands of workers who also must undergo training, follow a mining plan that is treated merely as a pass-or-fail requirement, and must be ready with the billions of pesos needed to operate the mine.

Besides, without coal, electricity rates are likely to go up as well, it said, since Semirara coal is used to produce baseload power, the cheapest form of electricity.

The shift to the highest bidder from the most capable mining outfit as the main award criterion early this year is puzzling, it said, because nobody stands to benefit from the new bid rules except the potential winner, which only has to submit a financial bid to win.

The bid rules also say the values leading to the award would be kept confidential.

SMPC said it is studying all its options to protect its legal interests.
Other Relevant Information

See corresponding SEC Form 17-C.
Filed on behalf by:
Name Sonny Sibug
Designation Legal and Admninistrative Officer