AES-MPPCL Forward Contract ProposalNovember 10, 2014Corplan

Current Purchases Scenario Month Bill AES BGI WESM SMEC TOTAL

August

8,320,000.00 6,410,000.00 3,236,630.00 0

17,966,630.00

September

12,015,600.00 2,092,138.14 8,917,770.00 0

23,025,508.14

October

12,015,600.00 8,206,003.86 3,539,370.00 0

23,760,973.86

November

12,015,600.00 8,901,500.00 -

4,665,000.00

25,582,100.00

Average

11,091,700.00 6,402,410.50 3,923,442.50

1,166,250.00

Purchases Distribution: November

17000; 32%

20000; 38%

6000; 11%

10000; 19%

AESBGIWESMSMEC

Current Demand ScenarioMonth Bill AES BGI WESM SMEC PEAK

DEMAND

August 17,000 20,000 16,143 0 53,143

September 17,000 20,000 15,473 0 52,473

October 17,000 20,000 16,095 0 53,095

November 17,000 20,000 6,000 10,000 53,000

Average 17,000 20,000 13,428 10,000

Demand Distribution: November

17000; 32%

20000; 38%

6000; 11%

10000; 19%

AESBGIWESMSMEC

Power Contract StatusPower Supplier Plant Type and

LocationLocation Duration

AES – Masinloc Coal-Fire Zambales May 26, 2010 to May 25, 2026

Bacman Geothermal Inc.

Geothermal Bacun, Sorsogon January 26, 2013 to January 25, 2018

WESM Mixed n/a November 26, 2006 – Present

San Miguel Energy Corporation

Coal Sual, Pangasinan October 26, 2014 to October 25, 2024

MPPCL FORWARD CONTRACT OFFERNovember 10, 2014

MPPCL Offer Details• Masinloc Power Partners Limited presented last October16,

2014 their intention to enter into a forward power supply contract.

• The said offer is due to their expansion project of additional 2 x 300 MW coal-fire power plant in Zambales.

• This would now raise their portfolio to 4 x 300 MW coal-fire plants (2 of which Casureco II is a current customer for 17 MW).

• The offer is for 20 MW.• The duration is 10 years to commence November 26, 2014.

MPPCL Rate OfferRate Component Figure

Basic Rate 4.05

Adjustments (Estimate) 0.15

Line Rental (Estimate) 0.18

VAT 0.53

Prompt Payment Discount (0.10)

Systems Loss Discount (0.05)

Collection Efficiency Discount (0.05)

Productivity Discount (0.05)

Security Deposit Discount (0.10)

Loyalty Discount (0.10)

TOTAL 4.45

Power Supplier’s Power RatesMonth Bill AES BGI WESM SMEC

August 5.06 5.71 4.88 September 4.68 5.76 5.61 October 4.72 5.91 2.91 November 4.65

END OF PRESENTATIONDios Mabalos!