CEZAR CONSING
ACEN CORPORATION | 2025 ANNUAL STOCKHOLDERS’ MEETING
April 23, 2025

Dear fellow shareholders,

The past year marked another significant step in our journey, as we continued to grow attributable renewable capacity and earnings. Growth momentum remained strong, resulting in the expansion of our operating and under-construction portfolio to 5.8 gigawatts.

We have 1.2 gigawatts of renewable energy projects with signed agreements expected to reach financial close within the next 12 to 18 months. This pipeline supports our growth trajectory and underscores our commitment to driving energy transition.

While the global renewable energy sector has faced headwinds, including the prospect of elevated interest rates and shifting energy policies — particularly in the United States — we believe the sector’s long-term fundamentals remain intact. In fact, we continue to see robust momentum in key markets such as the Philippines, Australia, and India, where supportive policies and strong market demand continue to drive renewable energy growth. We remain steadfast and focused as we navigate these evolving dynamics.

On behalf of the Board, I extend our sincere gratitude to our outgoing directors, Melinda Ocampo and Garry Lester, for their invaluable service and contributions. Melinda has been a dedicated Board member since 2019, serving in various board committees and bringing deep industry expertise to our discussions.

Garry, as Chair of the Audit Committee, has played a pivotal role in establishing our financial guard rails and in guiding our strategic direction. Mel’s and Garry’s insights, engagement, and commitment have helped guide our company, and we are very grateful for their engagement.

At the same time, we warmly welcome our incoming directors, Christopher Paul Beshouri and David John Nicol, whose experience and expertise will add considerable value to our company.

Let me extend my heartfelt thanks to the ACEN management team and all our employees for their exceptional work and unwavering passion. Their dedication has been instrumental in our becoming a leading renewable energy company in the region.

As we look ahead, we remain focused on delivering sustainable value for our stakeholders while driving the global transition to renewable energy. With a solid foundation, a growing portfolio, and unwavering commitment, we are poised to thrive—not just by growing capacity, but by building a more equitable and sustainable energy future. With your continued trust and support, we will navigate the evolving energy landscape and accelerate the shift to a cleaner world.