PetroEnergy Resources : Clarification of News Reports

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 24, 20222. SEC Identification Number AS094-088803. BIR Tax Identification No. 004-471-419-0004. Exact name of issuer as specified in its charter PetroEnergy Resources Corporation5. Province, country or other jurisdiction of incorporation Metro Manila, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 7th Floor, JMT Building, ADB Avenue, Ortigas Center Pasig CityPostal Code16008. Issuer's telephone number, including area code 632 863729179. Former name or former address, if changed since last report -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	568,711,842

11. Indicate the item numbers reported herein Item 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.

PetroEnergy Resources CorporationPERC 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

"PETROENERGY Resources Corp. targets to add 400 megawatts (MW) to its portfolio in the next three to four years, while it plans to build three offshore wind farms in the long term."

Source	BusinessWorld (Online Edition)
Subject of News Report	PetroEnergy to focus on solar, offshore wind farms
Date of Publication	Feb 24, 2022

Clarification of News Report

We submit our reply in compliance with the Phil. Stock Exchange's requested clarification on the below statements in the BusinessWorld news article posted today: "PETROENERGY Resources Corp. targets to add 400 megawatts (MW) to its portfolio in the next three to four years, while it plans to build three offshore wind farms in the long term, a company official said. 'In the next one to two years, we will add 100 MW of new solar projects and another 300 MW in the next three to four years, while in the long term we are betting on offshore wind because of the advantages of the offshore wind in scaling up the renewable energy generation,' said PetroEnergy Vice-President Francisco G. Delfin during the Rizal Commercial Banking Corp. (RCBC) virtual forum on sustainability on Wednesday. . . . . Mr. Delfin said PetroEnergy is also planning to expand its 32-MW Maibarara geothermal power plant, but this will take a back seat as the company's priority is its new solar and offshore wind projects. . . . ." We confirm the aforementioned statements made by Mr. Delfin in the BusinessWorld news article published today. The solar and wind pipeline projects of around 400 megawatts (MW) capacity is part of PetroEnergy Resources Corporation's medium to long term plan. To clarify, however, these projects will be implemented through its renewable energy subsidiaries, PetroGreen Energy Corporation, PetroSolar Corporation, or other new subsidiaries that may be formed. Further details about these projects will be disclosed in the future, in compliance with PSE rules on public disclosures.

Other Relevant Information

Please note that the development of the above-stated power projects is subject to technical/economic feasibility, and the issuance/approval of government permits/clearances relevant to the same.

Filed on behalf by:

Name	Keel Achernar Dinoy
Designation	Alternate Information Officer