Basic Energy Corporation (the "Company") sees its prospective project pipeline close the year on a positive note as it received from the Department of Energy (DOE) the approved Wind Energy Service Contract (WESC), with an effective date of Sept 15, 2023, for its prospective Ilocos Nearshore Wind Power Project. The project is located in Pasuquin, Ilocos Norte which is covered by WESC No. 2023-08-310.

The Ilocos Norte WESC is the latest addi0on to Basic Energy's growing porTolio of wind projects which the Company looks forward to developing. Under the said service contract, the Company is appointed and cons0tuted by the DOE to have an exclusive right to explore, develop andize the wind energy resources in the 5,502.54 hectares contracted area. With the effec0vity of the said service contract.