C01518-2024

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)
Mar 18, 2024
2. SEC Identification Number
CEO2536
3. BIR Tax Identification No.
003-828-269-V
4. Exact name of issuer as specified in its charter
ABOITIZ EQUITY VENTURES INC.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
32nd Street, Bonifacio Global City, Taguig City, Metro Manila, Philippines Postal Code 1634
8. Issuer's telephone number, including area code
(02) 8886-2800
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 Stock P1 Par Value 5,619,785,757
Amount of Debt Outstanding (December 31, 2023) 375,936,293,000.00
11. Indicate the item numbers reported herein
Item 9: Other Events

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.

Aboitiz Equity Ventures, Inc.AEV

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 to the March 17, 2024 Bilyonaryo.com News Article.
Source Bilyonaryo.com
Subject of News Report “Bullish under Bongbong: Aboitiz conglomerate pours P153 billion into renewables, high-growth sectors"
Date of Publication Mar 17, 2024
Clarification of News Report

Gentlemen:

This refers to your letter requesting Aboitiz Equity Ventures Inc. (AEV, or the “Company”) to confirm the veracity of the information contained in the Bilyonaryo.com news article dated March 17, 2024 entitled, “Bullish under Bongbong: Aboitiz conglomerate pours P153 billion into renewables, high-growth sectors,” the relevant portion of which is quoted hereunder:

“The Aboitiz family’s flagship company, Aboitiz Equity Ventures (AEV) is making a big bet on the future.

Led by bilyonaryo Sabin Aboitiz, AEV is more than doubling its capital spending in 2024 to P153 billion from P65 billion a year earlier, with a focus on clean energy and high-growth sectors.

The move underscores AEV’s commitment to accelerating its expansion in the renewable energy sector, a key growth area in the Philippines, and seizing opportunities in other high-potential industries.

‘This significant increase in capital spending reflects our confidence in the Philippine economy and our commitment to capturing growth opportunities,’ said a company official.

Majority of the programmed budget for this year or P73 billion will be allocated to Aboitiz Power Corporation, the listed power arm of AEV, to bolster its clean energy portfolio. The Philippines aims to increase the share of renewables in its energy mix to 50% by 2040, from around 30% currently.

Beyond renewables, AEV is allocating P44 billion for strategic investments in high-growth sectors. This includes expanding the group’s economic estates, water and waste management solutions, digital infrastructure, and transportation and mobility projects

Existing businesses like banking, real estate, and food will also receive a boost, with P3 billion each allocated for their growth.

. . . .”

We confirm that AEV is more than doubling its capital spending in 2024 to P153 billion from P65 billion in 2023. Out of the increase, (i) P73 billion will be allocated to Aboitiz Power Corporation; (ii) P44 billion will be allocated for AEV’s strategic investments in high-growth sectors; and (iii) approximately P3 billion allocated for each of AEV’s Banking, Real Estate, and Food Strategic Business Units (SBUs). The capital expenditure budget provided is based on the aggregate of all of AEV subsidiaries, on a 100% basis.

We trust that we have clarified the above-mentioned news article to your satisfaction.

Thank you.
Other Relevant Information

Please see attached.
Filed on behalf by:
Name Sammy Dave Santos
Designation Senior Associate General Counsel