April 24, 2023 

Fellow shareholders, the ACEN Team, friends, good morning.

I am privileged to have been elected into ACEN’s Board and as Chairman in September of last year. I thank the Board for entrusting me with this role of continuing ACEN’s transformation that my predecessor Fernando Zobel de Ayala led with our President and CEO John Eric Francia and the ACEN leadership team.

I congratulate Fernando who nurtured ACEN to become one of Ayala’s core businesses. He empowered the management team to undertake game changing initiatives that contributed to addressing critical gaps in the industry and more recently, leading the global effort towards clean energy transition.

ACEN is fortunate to have had the foresight to make the strategic shift towards renewables when the space was still in its nascent stages. With the current global energy crisis accelerating the demand for clean energy, ACEN is in a strong position to capture the opportunities and take a leading role in the renewables revolution. The Board is excited about ACEN’s growth trajectory. We will continue to actively engage the senior leadership in delivering execution excellence, and building a strong team to ensure success. At the same time, amidst the scale of expansion, we will ensure that prudent risk management is exercised, including maintaining a strong balance sheet.

Before I turn over the floor to our President, I would like to make special mention to our outgoing Directors for their valuable contributions to ACEN: Ms. Sherisa Nuesa, Ms. Consuelo Garcia, and Ms. Aurora Geotina-Garcia. Ms. Nuesa has been our Director since September 2019 and has chaired our Risk Management and Related-Party Transaction Committee in addition to serving other various committees of the Board. Ms. Consuelo Garcia has also been our director since September 2019 and has sat on several committees of the Board, including chairing the Corporate Governance and Nomination Committee and the Personnel and Compensation Committee. Ms. Aurora Garcia has similarly been on the Board since September 2019 and has served as Chair of our Audit Committee. On behalf of all of ACEN, I thank them for their valuable insights and strong engagement on the Board.

In closing, I would like to thank the ACEN management team and all ACEN employees for the excellent work and passion that they have put into the organization, and you our shareholders, business partners, and our many stakeholders for your continued trust and support.

Thank you.