#1RASLAG CORP. RASLAG CORP.#2Presenters RASLAG CORP. ROBERT GERARD B. NEPOMUCENO Chief Financial Officer EPIFANIA B. MORAL Accounting Manager ENGR. ANGELO PAOLO L. USI OBD Research Engineer 2#3Agenda 1 Raslag Corp. Overview 2 Key Investment Highlights 3 4 Operating and Financial Highlights Growth Pipeline RASLAG CORP. 3#4Agenda 1 Raslag Corp. Overview 2 Key Investment Highlights 3 Operating and Financial Highlights 4 Growth Pipeline RASLAG CORP. 4#5The Nepomuceno Family: An Illustrious Legacy RASLAG CORP. Raslag is wholly-owned and led by the Nepomuceno family of Pampanga, who have been building enduring businesses, institutions, and landmarks in Angeles City and the region for a hundred years. Holy Angel Angeles Ice Plant (1922) Academy (1933) (now Holy Angel University) Villa Teresa Subdivision (1965) Teresa Waterworks (1985) Angeles Power, Inc. (1993) Durastress Corporation (1997) Rockwell Center Nepo Angeles (2021) Angeles Light and Power (1923) (now Angeles Electric Corporation) NEPO MART Nepo Mart Commercial Complex (1968) Angeles Industrial Park (1995) Nepo Malls Angeles (2003) Dagupan (2003) Raslag Corp. (2013) NEPO Alaminos (2004) ம#6Raslag Corp. RASLAG CORP. RASLAG CORP. Raslag-1: 10.046 MWp 9.68/kWh FIT-1 Raslag-2: 13.141 MWp #8.69/kWh FIT-2 ✓ Raslag is among the solar energy pioneers in the Philippines. ✓ Led by Engr. Peter G. Nepomuceno, a veteran in the power industry and a well-respected pillar of business in Central Luzon. Raslag Corp. Financial Information as of 31 December 2022 Revenues EBITDA Net Income Assets Bank Debt Equity #384 mn (+32% vs FY2021) #282 mn (73% margin) #147 mn (+27% vs FY2021) #3,515 mn (+32% vs FY2021) 1,170 mn (+7% vs FY2021) #2,144 mn (+55% vs FY2021) 6#7Corporate History and Milestones RASLAG CORP. Establishment of Raslag Corp. in line with government efforts to develop renewable energy in the Philippines. 2013 Completion of 10.046 MWp Raslag-1 the 2nd solar plant to be awarded the Completion of the 13.141 MWp Raslag- 2- the 1st solar plant to be awarded Commenced construction of 18.011 MWp Raslag- 3 in 2H, which will nearly double the $8.69/kWh Raslag's installed $9.68/kWh FIT✶ Round 1. FIT✶ Round 2. capacity. 2016 2021 2015 Completion of Raslag-3 in July. IPO and PSE Commenced construction of 36.646 MWp Raslag 4 in 2H, the highest plant capacity to date. listed on June. 2023 2022 (*) Feed-in Tariff (FIT) is a policy designed to support the development of renewable energy sources by providing a guaranteed, above-market price for producers.#8Solar Projects Bamban Raslag-3 Mabalacat/San Jose, Magalang, Pampanga Installed Capacity MWp 18.011 Land Area Has. 12.801 E1 Operations Start Year [2022] EPC Solenergy DAU E4 BALIBAGO ΕΙ E4 Raslag-2 Suclaban & Gandus, Mexico, Pampanga Installed Capacity Angeles 2 Magalang E1 Raslag-4 Talimundoc, Magalang, Pampanga Arayat RASLAG CORP. 3 3 Installed Capacity MWP 36.646 Santa Ana Land Area Has. 25.175 Operations Start Year [2024] MWp 13.141 Raslag-1 Land Area Has. 13.346 Suclaban, Mexico, Pampanga Operations Start Year 2015 Installed Capacity MWP 10.046 EPC Solenergy and Conergy Land Area Operations Start Has. 12.944 Year 2015 EPC Conergy and Schema Konsult San Fernando Mexico Saba 8#9Solar Projects Raslag-5 Saba, Hermosa, Bataan Installed Capacity MWp [45] est. Land Area Operations Start Has. (33.15) approx. Year [2025] Saba, Hermosa, Bataan RASLAG CORP. RASLAG 1 & 2 LAG & 2 Saba 6#10Solar Projects RASI 1&2 RASLAG 1 & 2 Raslag-6 Plastado, Gerona, Tarlac Installed Capacity Land Area MWp Has. [58] est. (42) approx. Operations Start Year [2028] lastado, Gerona, Tarlac RASLAG CORP. 10#11Agenda 1 Raslag Corp. Overview 2 Key Investment Highlights 3 Operating and Financial Highlights 4 Growth Pipeline RASLAG CORP. 11#12Key Investment Highlights 1 Solar industry pioneer enjoying attractive FIT* rates 2 Strong financials with clear potential for significant profit growth and high dividend capacity 3 Strategically located in Central Luzon a region ideal for large, utility-scale solar projects - 4 Well-positioned to take advantage of the green revolution 5 Respected management team with decades of expertise and success in the power sector (*) Feed-in Tariff (FIT) is a policy designed to support the development of renewable energy sources by providing a guaranteed, above-market price for producers. RASLAG CORP. 12#13Solar industry pioneer enjoying attractive FIT rates Rates FIT-1(1) FIT-2(1) WESM(3) P/kWh Solar FIT-1 -Solar FIT-2 -WESM Year P/kWh P/kWh P/kWh 12.00 10.94 11.28 11.28 11.28 10.48 10.07 2015 9.68 8.69 4.8895 9.68 9.70 10.00 2016 9.7015 8.7093 3.2814 9.82 10.12 10.12 10.12 8.00 9.41 8.69 2017 8.71 9.04 10.0661 9.0366 3.7586 8.22 6.00 2018 10.4788 9.4071 4.0991 6.26 2019 10.9441 9.8248 5.6366 4.00 4.89 3.83 2020 11.2758 10.1226 2.7151 2.00 3.56 2.95 2.95 2.72 2021 11.2758(2) 10.1226(2) 6.2625 2022 11.2758(2) 10.1226(2) 8.2239 RASLAG CORP. (1) 2015 2016 2017 2018 2019 2020 2021 2022 As awardees of Solar FIT rounds 1 and 2, the existing Raslag plants further enjoy these privileges: 20-year Feed-in- Tariff E High, guaranteed, escalating tariffs PRIORITY Must- dispatch generation Fiscal incentives Retro-actively approved escalated FIT Rates according to ERC Resolution No. 6, Series of 2020 (3) Average Wholesale Electricity Spot Market (WESM) prices for the Raslag nodes (2) Pending Energy Regulatory Commission (ERC) approval on escalated FIT rates for 2021 onwards 13#14Strong financials with visible simultaneous potential for profit growth and high dividend capacity RASLAG CORP. Revenues EBITDA mn I Revenues (FY) (LHS) Revenues (3M) (LHS) Y-o-Y Growth (RHS) P mn EBITDA (FY) (LHS) EBITDA (3M) (LHS) EBITDA Margin (RHS) 500 49% 50% 400 81% 84% 81% 100% 73% 32% 80% 400 30% 300 -26% 300 10% 60% 200 200 -10% 40% 100 100 -30% 20% 396 292 384 79 118 320 244 282 52 95 -50% 0% FY2020 FY2021 FY2022 3M2022 3M2023 FY2020 FY2021 FY2022 3M2022 3M2023 Net Income → mn Net Income (FY) (LHS) Net Income (3M) (LHS) Net Margin (RHS) 2022 declined due to IPO related expenses amounting to P26.463 million. EBITDA would be 310.463 million without the IPO related expenses and the EBITDA margin would be 80.9% 300 60% 45% 40% 38% 200 45% 40% 100 20% 179 116 147 22 53 0% FY2020 FY2021 FY2022 3M2022 3M2023 14#15Strategically located in Central Luzon projects - DOE Distribution Development Plan (DDP), 2019-2028 a region ideal for large, utility-scale solar RASLAG CORP. Region Energy Sales Energy Sales (TWh) Growth/yr Avg TWh Growth SOLAR RESOURCE MAP PHOTOVOLTAIC POWER POTENTIAL PHILIPPINES 115°E 120°E WORLD BANK GROUP ESMAP 125°E Baguio 20°N No./ Name 2019-2028 2018 2028 TWh/yr Region I 4.89% 2.23 3.80 0.16 Tuguegarao Region II 5.00% 0.98 1.67 0.07 CAR 8.41% Baguio 0.55 0.86 0.03 Region III 5.79% 6.40 12.34 0.59 15 N Manila ezon City NCR 2.76% 43.57 57.59 1.40 Region IV-A 4.59% 1.98 3.16 0.12 Region IV-B 8.67% 0.80 1.97 0.12 Manila Que Region V 4.88% 1.46 2.76 0.13 Panalanoy lloilo Region VI 5.23% 3.07 5.30 0.22 Cebu 10°N 10°N- Region VII 4.04% 5.40 8.64 0.32 Butuan Region VIII 4.52% 1.08 2.01 0.09 Region IX 3.91% 1.09 1.63 0.05 Region X 12.80% 2.52 6.97 0.45 General Santos Region XI 5.17% 3.39 5.55 0.22 5°N Region XII 5.94% 1.81 3.07 0.13 Region XIII 5.05% 0.91 1.56 0.06 Daily totals: 3.0 Long term average of PVOUT, period 2007-2018 3.4 3.8 Yearly totals: 1095 1241 4.2 1387 4.6 kWh/kWp 1534 1680 BARMM 7.46% 0.17 0.35 0.02 This man published by the World Bank Group funded by ESVAP, and prepared by Solargis. For more information and terms of use, please vsit http://global Budta Davao source Region's advantages: High demand and demand growth ✓ High irradiance ✓ Availability of suitable flat land (1) Department of Energy (DOE) Distribution Development Plan, 2019-2028 (2) World Bank Group SolarGIS Resource Map - Philippines 15#16Well-positioned to take advantage of green revolution 2020-2040 Philippine Energy Plan(¹) Target Installed Capacities MW 140,000 Coal Natural Gas ■ Oil Renewable 2040 Renewable Energy Installed Capacity Targets (1) ■ Geothermal ■ Hydro Wind ■ Solar ■ Biomass 120,000 100,000 80,000 95,671 RASLAG CORP. 118,571 Status Quo = 53,205 MW Clean Energy Scenario = 81,485 MW Geothermal 5% Biomass 1% Geothermal 3% Biomass 1% 81,485 53,205 60,000 Hydro 29% Hydro 25% 40,000 4,618 26,251 4,618 Solar Solar 24,263 20,000 7,617 18,883 Wind 61% 57% 4.237 14% 3.453 Wind 10,944 13,585 13,585 4% 2020 Actual 2040 Targets 2040 Targets (status quo) (clean scenario) (1) Department of Energy (DOE) Philippine Energy Plan, 2020-2040 16#17Respected management team with decades of expertise and success in the power sector DIRECTORS ENGR. PETER G. NEPOMUCENO Chairman / President & CEO ENGR. GEROMIN T. NEPOMUCENO Vice Chairman and Treasurer ROBERT GERARD B. NEPOMUCENO Director and CFO ENGR. CONRADO D. PECJO Director and EVP MA. RITA JOSEFINA V. CHUA Director RASLAG CORP. INDEPENDENT DIRECTORS ATTY. PEDRO H. MANIEGO, JR. Independent Director ENGR. ARSENIO N. VALDEZ Director DANIEL GABRIEL M. MONTECILLO Independent Director OFFICERS ATTY. RUELITO Q. SORIANO Corporate Secretary ATTY. PAULO S. FAUSTINO Assistant Corporate Secretary ATTY. LYRA GRACIA Y. LIPAE- FABELLA Investor Relations and Compliance Officer. EPIFANIA B. MORAL Accounting Manager ENGR. ANGELO PAOLO L. USI Operations & Business Development Research Engineer ENGR. MARY SHEENA Y. PINEDA-MANALANG Operations & Business Development Research Engineer ENGR. LOURDINO T. PAGUIO Operations and Maintenance Supervisor OLIVER B. BUTALID Independent Director 17#18Agenda 1 Raslag Corp. Overview 2 Key Investment Highlights 3 Operating and Financial Highlights 4 Growth Pipeline RASLAG CORP. 18#19Summary of Selected Operating Information RASLAG CORP. Generation - Total Raslag-1 Performance Electricity Generation (FY) (LHS) IGeneration (FY) (LHS) GWh Electricity Generation (3M) (LHS) 15.0 15.9% 16.2% Generation (3M) (LHS) 16.2% •Capacity Factor (RHS) 18.0% 17.4% GWh Linear (Electricity Generation (FY) (LHS)) 60.0 10.0 40.0 5.0 20.0 30.9 32.7 43.7 8.7 14.8 14.0 HI 17.0% 17.0% 16.0% 15.0% 14.2 14.3 3.8 3.7 14.0% 2020 2021 2022 3M2022 3M2023 FY2020 FY2021 FY2022 3M2022 3M2023 Raslag-2 Performance Raslag-3 Performance Generation (FY) (LHS) GWh 20.0 16.1% Generation (3M) (LHS) 16.4% Capacity Factor (RHS) IGeneration (FY) (LHS) Generation (3M) (LHS) •Capacity Factor (RHS) 17.3% 18.0% GWh 12 18.0% 6.6% 14.7% 17.1% 15.0 10.0 5.0 16.9 18.5 HI 17.0% 10 17.0% 16.0% 8 16.0% 16.0% 15.0% 6 15.0% 14.0% 4 14.0% 13.0% 2 13.0% 19.0 4.9 10.5 4.9 6.2 12.0% 0 12.0% FY2020 FY2021 FY2022 3M2022 3M2023 FY2022 3M2023 19#20RASLAG CORP. Summary of Selected Financial Information ERC-Approved FIT Rates P/kWh Solar FIT-1 Solar FIT-2 Revenues → mn I Revenues (FY) (LHS) Revenues (3M) (LHS) 15.00 500 Y-o-Y Growth (RHS) 49% 50% 9.68 9.70 10.07 10.48 10.94 11.28 11.28 11.28 32% 400 -26% 10.00 300 8.69 8.71 9.04 9.41 9.82 10.12 10.12 10.12 200 5.00 100 396 292 ☑ 30% 10% -10% -30% 384 79 118 -50% 2015 2016 2017 2018 2019 2020 2021 2022 FY2020 FY2021 FY2022 3M2022 3M2023 EBITDA Net Income mn EBITDA (FY) (LHS) EBITDA (3M) (LHS) EBITDA Margin (RHS) → mn I Net Income (FY) (LHS) Net Income (3M) (LHS) Net Margin (RHS) 400 81% 84% 300 81% 100% 60% 73% 45% 80% 40% 300 38% 200 45% 40% 60% 200 40% 100 100 20% 320 244 282 52 95 0% FY2020 FY2021 FY2022 3M2022 3M2023 20% 179 116 147 22 53 0% FY2020 FY2021 FY2022 3M2022 3M2023 20#21Summary of Selected Financial Information RASLAG CORP. Key Balance Sheet FY2020 Financial Ratios Items FY2021 FY2022 FY2020 (as reissued) FY2021 FY2022 (as reissued) (in → mn) Profitability Total Assets 2,232 2,657 3,515 Gross Profit Margin 75% 68% 70% PPE 1,730 2,242 2,468 EBITDA Margin 84% 84% 73% Net Profit Margin 45% 40% 38% Total Liabilities 962 1,270 1,371 Return on Assets 9% 4% 4% Total Bank Debt 821 1,093 1,170 Return on Equity 16% 8% 7% Total Equity 1,271 1,387 2,144 Liquidity Current Ratio 1.60x 1.09x 2.02x Dividends Paid 50 150 50.1 Debt Capacity and Leverage Bank Debt to Equity 0.65x 0.79x 0.55x Bank Debt to EBITDA 2.46x 4.48x 4.15x(1) (1) Annualized EBITDA 21#22Key Performance Indicators ASLAG ACEN March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Current Ratio 1.10 2.02 Current Ratio 0.00 3.96 Debt to Equity Ratio 0.52 0.55 Debt to Equity Ratio 0.00 0.56 Net Debt to Equity Ratio 0.43 0.34 Net Debt to Equity Ratio 0.00 0.19 March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Return on Assets 1.47% Return on Equity 2.40% Debt Service Coverage Ration (DSCR) 2.02 0.82% 1.04% (COMPLIANT) Return on Assets Return on Equity 0.00% 0.00% 1.66% 1.72% Debt Service Coverage Ration (DSCR) Petroenergy Citicore March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Current Ratio 0.00 1.09 Current Ratio 0.00 1.70 Debt to Equity Ratio 0.00 0.12 Debt to Equity Ratio 0.00 0.00 Net Debt to Equity Ratio 0.00 0.10 Net Debt to Equity Ratio 0.00 0.00 March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Return on Assets 0.00% 1.85% Return on Assets 0.00% 9.01% Return on Equity 0.00% 2.94% Return on Equity 0.00% 10.19% Debt Service Coverage Ration (DSCR) Debt Service Coverage Ration (DSCR) RASLAG CORP. 22#23Agenda 1 Raslag Corp. Overview 2 Key Investment Highlights 3 Operating and Financial Highlights 4 Growth Pipeline RASLAG CORP. 23#24Value Creation HIS Growth Strategies FEEDERY RESPACTRIMETER 6472 DALY BRI FOXER PERFORER RECSEPOR 36805 2081 1620 10.820.22 5856 0948 0.9345 5448 60.00 60.04 GO 02 581 1358568 13 5446 X64 13.665.44 13.656.71 83 13.763:01 13.752.33 463.12 242.16 221.28 PROTECTION RE 45600 247.38 20048 454.91 25289 201.94 24467 ALRY PORTED 13.219 24 637 13.219 11.25 YEAR W 3.358 51 5.775.59 5.177 ON Leverage expertise and capitalize on technology economics to Optimize operations to leverage synergies across multiple adjacent power plants to further improve scale up utility- scale solar portfolio with target of 250 margins Explore complementary disruptive technologies Maintain good relationships with stakeholders and regulatory bodies within the area of operations and development Strengthen manpower and enhance organizational capabilities MW in 10 years RASLAG CORP. 24#25RASLAG 1 & 2 RASLAG 2 RASLAG 1 RASLAG CORP. Overview Raslag-1 (10.046 MWp) and Raslag-2 (13.141 MWp) are solar power projects in Mexico, Pampanga Financing ✓ Term Loan Facility with Bank of the Philippine Islands Development ✓ Raslag-1 was constructed within Ten (10) months while Raslag-2 was constructed within Six (6) months Raslag-1 and Raslag- 2 started Commercial Operations on February 5, 2015 and December 23, 2015 respectively 25#26Raslag-3 Overview ✓ Raslag-3 is an 18.011 MWp solar power project in Magalang and Mabalacat, Pampanga RASLAG CORP. Financing ✓ Term Loan Facility with Bank of the Philippine Islands ✓ Project is fully-funded; no IPO proceeds are needed to support it Development ✓ Started construction in July 2021 with Solenergy as the EPC contractor ✓ Completed Construction on July 7, 2022 26#27Raslag-4 Overview Raslag-4 will be a 36.646 MWp solar plant in San Pablo, Magalang, Pampanga RASLAG CORP. Status ✓ Awarded with Solar Energy Operating Contract (SEOC) from DOE ✓ Land for the project has been acquired ✓ Company has secured its financing with BPI Development ✓ Total construction cost estimated to be ~1,700 mn ✓ [380 mn] will be funded from IPO Proceeds ✓ P [120 mn] will be funded from the Company's internally generated funds ✓ [1,200 mn] will be funded by BPI ✓ To commence construction on May 2023 On March 16, 2023, the Department of Energy (DOE) Secretary RAPHAEL P.M. LOTILLA approved and signed the Company's application for amendment of RASLAG 4 capacity from 34.320 MWp/24.200 MW to 36.646 MWP/26.400 MW 27#28RASLAG 5 2002 RASLAG CORP. Overview Raslag-5 is a 45.00 MWp (est.) solar power. project in Hermosa, Bataan Status ✓ Land for the project has been acquired ✓ Company is in talks with its existing financial partners (BPI & Chinabank) for financing the project Development ✓ Currently applied for a Solar Energy Operating Contract (SEOC) with DOE 28#29RASLAG 6 RASLAG CORP. Overview Raslag-6 is a 58.00 MWp (est.) solar power. project in Gerona, Tarlac Status ✓ Land for the project is being secured ✓ Company is in talks with its existing financial partners (BPI & Chinabank) for financing the project Development ✓ Currently applied for a Solar Energy Operating Contract (SEOC) with DOE ✓ P [250 mn] loan from BPI was approved by the Board on its April 18 2023 meeting for acquiring the land for the project 29 29#30Solar Projects and Pipeline RASLAG CORP. Plant/ Project Location Project Status Capacity Land Area Land Rights Operations Start Description MWp Hectares Description Year Raslag-1 Mexico, Pampanga Operational 10.046 12.9 Raslag-Owned 2015 Raslag-2 Mexico, Pampanga Operational 13.141 13.4 Raslag-Owned 2015 Raslag-3 Mabalacat & Magalang, Pampanga Operational 18.011 12.8 Raslag-Owned 2022 Raslag-4 Magalang, Pampanga Development 36.646 25.2 Raslag-Owned [2024] Raslag-5 Hermosa, Bataan Pre-Development 45.0 (est.) 33.2 Raslag-Owned [2025] Raslag-6 Gerona, Tarlac Pre-Development 58.0 (est.) 42.0 Raslag-Owned [2028] Total 181.198 139.5 Pipeline ✓ P[250 mn] allocated for funding the purchase of real property for Raslag-5 Solar Power Project in lieu of the original location intended for such project ✓ Land acquisition and pre-development activities are ongoing for future sites in Central Luzon Target ✓ Grow capacity six-fold within the next 5 years ✓ Complete 250 MW of solar projects within 10 years 30#31Q&A 31#32Thank you RASLAG CORP.