AC Energy : Update on Corporate Actions/Material Transactions/Agreements

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 11, 20222. SEC Identification Number 392743. BIR Tax Identification No. 000-506-020-0004. Exact name of issuer as specified in its charter AC Energy Corporation5. Province, country or other jurisdiction of incorporation Makati City, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 35th Floor, Ayala Triangle Gardens Tower 2, Paseo de Roxas corner Makati Avenue, Makati CityPostal Code12268. Issuer's telephone number, including area code [phone]9. Former name or former address, if changed since last report N/A10. 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 Shares	38,315,838,177

11. Indicate the item numbers reported herein N/A

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.

AC Energy CorporationACEN PSE Disclosure Form 16-1- Update on Corporate Actions/
Material Transactions/Agreements References: SRC Rule 17 (SEC Form 17-C) and
Section 16 of the Revised Disclosure Rules

Subject of the Disclosure

Acquisition by ACEN of the effective ownership interest of UPC Renewables Asia Pacific Holdings Pte Limited ("UPCAPH") and Mr. Anton Rohner ("Rohner") in UPC-AC Renewables Australia

Background/Description of the Disclosure

Please be informed that on 11 March 2022, the Company, through its subsidiary AC Renewables International Pte Ltd ("ACRI"), UPCAPH, and Mr. Rohner signed a Share Purchase Agreement for ACRI's acquisition of the effective ownership interest of UPACPH and Mr. Rohner in UPC-AC Renewables Australia. UPC-AC Renewables Australia is the joint venture holding company of ACRI and UPCAPH for Australia energy and power projects and investments. Completion of the first tranche of the acquisition is expected to occur by the end of March 2022, with the second tranche expected to be completed by the first quarter of 2023. The Company will wholly own UPC-AC Renewables Australia upon completion of the two (2) tranches.

Other Relevant Information

This disclosure is an update to disclosure report numbers C07268-2021 dated 2 November 2021, as approved for posting on PSE Edge on 2 November 2021 and C08399-2021 dated 15 December 2021.

Filed on behalf by:

Name	Alan Ascalon
Designation	Vice President/ Asst. Corporate Secretary