Energy Development : Tender Offer Closing Date

Energy Development Corporation

38th Floor, One Corporate Centre Building, Julia Vargas corner Meralco Avenue Ortigas Center, Pasig 1605, Philippines

Trunklines: [phone] (PLDT) / [phone] (Globe)

October 22, 2018

JANET A. ENCARNACION

Head, Disclosure Department

The Philippine Stock Exchange, Inc.

PSE Tower, 28th Street corner 5th Avenue Bonifacio Global City, Taguig City

Dear Ms. Encarnacion:

Reference is made to the Tender Offer Report (SEC Form 19-1) filed by ENERGY DEVELOPMENT CORPORATION ("EDC", the "Bidder", or the "Company") with the Securities and Exchange Commission ("SEC") and the Philippine Stock Exchange, Inc. ("PSE") on 19 September 2018, in connection with the tender offer ("EDC Tender Offer") by the Company of up to 2,040,006,713 common shares held collectively by shareholders of the Company other than Red Vulcan Holdings Corporation, First Gen Corporation, Northern Terracotta Holdings Corp., and Philippines Renewable Energy Holdings Corporation, pursuant to the voluntary delisting of the shares of the Company with the PSE, at the tender offer price of P7.25 per common share, in compliance with the Securities Regulation Code and the Delisting Rules of the PSE.

The Company hereby announces that the EDC Tender Offer period will officially end at 12:00 P.M. today, 22 October 2018.

The crossing date and settlement date for the shares tendered shall be on 5 November 2018. Brokers and custodians may pick-up checks beginning at 12:00 P.M. on settlement date at the office of the Company's Tender Offer Agent, BDO Securities Corporation, located at the 20/F South Tower, BDO Corporate Center, 7899 Makati Ave., Makati City 0726, Philippines.

The Final Tender Offer Report shall be submitted to the SEC and the PSE, and made available to the general public on or before 6 November 2018.

Very truly yours,

Ryan Z. Velasco

Head of Investor Relations & Corporate Information Officer

cc:

VINA VANESSA S. SALONGA

Head - Issuer Compliance and Disclosure Department (ICDD) Philippine Dealing & Exchange Corp.