First Gen Acquired 100% Ownership of Pi Energy from First Philippine Holdings

​First Philippine Holdings Corporation (FPH) (as Assignor) and First Gen Corporation (FGEN) (as Assignee) executed a Deed of Assignment over 210,330 common shares and 2,781,764 preferred shares of Pi Energy for a total acquisition price of Philippine Pesos: One Billion Six Million Eight Hundred Fifty-Seven Thousand Nine Hundred Seventy-Five (P1,006,857,975.00), divided into Philippine Pesos: Two Hundred Ten Thousand Three Hundred Thirty (P210,330.00) for the common shares and Philippine Pesos: One Billion Six Million Six Hundred Forty-Seven Thousand Six Hundred Forty-Five (P1,006,647,645.00) for the preferred shares

Pi Energy provides customers with energy solutions through an arsenal of products and services such as microgrid, solar rooftop, energy audit, remote energy monitoring, and energy efficiency, among others. Given that FGEN is the FPH Group’s platform for delivery of value-added and decarbonization solutions, the transfer of Pi Energy to FGEN is aligned with the group’s efforts to streamline its business holdings and better manage its portfolio.

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: 210,330 common shares and 2,781,764 preferred shares
Percentage to the total outstanding shares of the company subject of the transaction: 100%
Price per share: P1.00/share for common shares and P361.873/share for preferred shares

The purchase price is Philippine Pesos: One Billion Six Million Eight Hundred Fifty-Seven Thousand Nine Hundred Seventy-Five (P1,006,857,975.00).