C00642-2024

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)
Feb 7, 2024
2. SEC Identification Number
A1998 18260
3. BIR Tax Identification No.
202 464 633
4. Exact name of issuer as specified in its charter
First Gen Corporation
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
6F Rockwell Business Center Tower 3 Ortigas Avenue Pasig City Postal Code 1604
8. Issuer's telephone number, including area code
3449 6400
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 3,596,575,505
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.

First Gen CorporationFGEN

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

clarification of news article regarding the acquisition of the Casecnan hydroelectric power plant by Fresh River Lakes Corp.
Source BusinessWorld (Online Edition)
Subject of News Report PCC clears Lopez's acquisition of Casecnan power plant
Date of Publication Feb 7, 2024
Clarification of News Report

This is with reference to your letter directing First Gen Corporation to clarify the following portions of a news article entitled “PCC clears Lopez’s acquisition of Casecnan Power Plant” posted in BusinessWorld (Online Edition) on February 7, 2024:

“THE Philippine Competition Commision (PCC) has cleared the acquisition of Lopez-led First Gen. Corp.’s subsidiary of the Casecnan Hydroelectric Power Plant (CHEPP), saying it will not affect market competition.

‘The Commission en banc on Jan. 25, cleared Fresh River… to take over the Casecnan plant seeing that the transaction would not result in substantial lessening of competition in the relevant markets,’ the PCC said in a statement on Tuesday.

First Gen through its wholly owned subsidiary Fresh River Lakes Corp. was set to acquire the hydro plant from Power Sector Assets Liabilities Management Corporation (PSALM) and National Irrigation Administration.

In May 2023, Fresh River was declared the winning bidder for the sale of the plant with a price of $526 million. This was higher than the minimum bid price of $227.27 million.

. . . . “

We confirm that The Philippine Competition Commission (“PCC”) has cleared the acquisition by Fresh River Lakes Corp. (“FRLC”) of the 165MW Casecnan hydroelectric power plant, located in Pantabangan and Munoz, Nueva Ecija, from the Power Sector Assets and Liabilities Management Corporation and the National Irrigation Administration. In clearing the acquisition, the PCC stated that the transaction will not result in substantial lessening of competition in the relevant markets.
FRLC is a wholly owned subsidiary of First Gen Corporation.
We trust that we have clarified these matters to the satisfaction of the Exchange. Thank you.
Other Relevant Information

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Filed on behalf by:
Name Rachel Hernandez
Designation Vice President and Corporate Secretary