About Meralco

Meralco

Meralco is the premier electric distribution utility in the Philippines. Headquartered in Pasig City, the Company provides energy to Metro Manila, Bulacan, Cavite, and Rizal, as well as parts of the provinces of Batangas, Laguna, Pampanga, and Quezon. Meralco’s franchise area spans about 9,685 square kilometers, reaching over 8.2 million residential, commercial, and industrial customers across 39 cities and 72 municipalities.

Meralco also operates as a retail electricity supplier (“RES”) within its franchise area through its business unit MPower.

Clark Electric Distribution Corporation (“Clark Electric”)

Through a 50-year franchise (until October 2047) granted by the Clark Development Corporation, Clark Electric distributes power within the Clark Special Economic Zone (“CSEZ”), the site of the former U.S. Clark Air Base. This site was transformed into a major economic district encompassing the Clark Freeport Zone and adjoining subzones. Clark Electric plays a critical role in transforming the CSEZ into a leading powerhouse for industry, aviation, export business, and higher learning.

Clark Electric also operates as a RES within its franchise area through its business unit Cogent Energy. Clarion Energy Management, Inc., a wholly owned subsidiary of Clark Electric, is awaiting issuance of RES license by the Energy Regulatory Commission (“ERC”).

Meralco Ecozone Power (“MEP”)

MEP is a Meralco business unit responsible for the administration and maintenance of the electric distribution network within the Cavite Economic Zone (“CEZ”). MEP offers CEZ tenants a suite of electrical services—including service applications, meter readings, billing, payments and collection, technical assistance, and complaint resolutions—while prioritizing the integration of renewable energy (“RE”) sources such as rooftop solar installations within the CEZ.

Shin Clark Power Holdings, Inc. (“Shin Clark”)

Shin Clark is responsible for the financing, development, operation, and maintenance of a smart electric distribution system within the 9,450-hectare New Clark City (“NCC”) through a joint venture agreement with the Bases Conversion and Development Authority (“BCDA”). It collaborates with the BCDA to achieve its vision of showcasing the NCC as the first metropolis in the Philippines to integrate smart, sustainable, and disaster- resilient attributes.

Meralco holds a 60% stake in Shin Clark, while Japanese firms Axia Power Holdings Philippines Corporation (a wholly owned subsidiary of Marubeni Corporation), KPIC Netherlands BV (a wholly owned subsidiary of Kansai Electric Power, Inc.), and Chubu Electric Power Co., Inc., collectively, hold the remaining 40%.

Meralco PowerGen Corporation (“MGEN”)

MGEN is Meralco’s power generation arm with a growing portfolio of diversified energy solutions across the Philippines, with a total net sellable capacity of 5,069.7 MW as of December 2025. From thermal and liquefied natural gas (“LNG”) to solar and battery energy storage—with nuclear energy among the technologies being explored for the future—MGEN delivers reliable power to drive progress across economies, industries, Generation and communities. This diverse portfolio enables MGEN to supply baseload, intermediate load, peak load, and ancillary power while ensuring energy security and affordability.

As part of its commitment to a cleaner energy future, MGEN places a premium on accelerating the country’s energy transition, with 2,562 MW of RE in its pipeline until 2030.

Global Business Power Corporation (“MGEN Thermal”)

MGEN Thermal is a leading independent power producer in the Philippines with the flexibility to supply power across different load categories. MGEN Thermal plays a crucial role in addressing the growing energy demands connecting businesses and communities.

San Buenaventura Power, Ltd. Co. (“SBPL”), also part of MGEN’s Thermal group, in Mauban, Quezon, pioneered the first highefficiency, low-emission (“HELE”) coal technology in the Philippines. This facility is a joint venture between MGEN and New Growth B.V., a subsidiary of Electricity Generating Public Company Limited of Thailand.

LNGPH

LNGPH is an integrated LNG import and regasification terminal and gas-to-power complex in Batangas that supports the reliable supply of LNG for power generation in the Luzon grid. It operates as part of a strategic partnership between MGEN, Aboitiz Power Corporation through Therma NatGas Power, Inc., and San Miguel Global Power Holdings Corp., following the completion of a USD 3.3 billion investment that strengthens the Philippines’ energy security and transition towards lower-carbon power generation.

MGEN Renewable Energy, Inc. (“MGEN Renewables”)

MGEN Renewables is dedicated to investing in and developing clean, sustainable, and efficient energy projects, playing a pivotal role in the country’s transition to a low- carbon future. As a key driver of MGEN’s vision for a balanced and diversified power generation portfolio, MGEN Renewables plays a vital role in advancing RE solutions while ensuring long-term energy security.

MGEN Renewables also holds a stake in Terra Solar Philippines, Inc., the company behind the MTerra Solar Project, a landmark 3,500 MWp integrated solar PV power plant with a 4,500 MWh battery energy storage system (“BESS”), enabling the storage and efficient dispatch of RE to support grid stability.

PacificLight Power Pte. Ltd. (“PLP”)

PLP, MGEN’s Singapore-based affiliate, is the first power plant in Singapore to be completely fueled by LNG. It owns and operates an 800 MW LNG power plant on Jurong Island. It also has a 100-MW Fast Start Ancillary Services facility, enhancing PLP’s ability to provide reliable and responsive power to the Singapore grid. It is the largest Clean Development Mechanism (“CDM”) project in the city- state registered under the United Nations Framework Convention on Climate Change.

MPower

MPower is Meralco’s local retail electricity supply (“LRES”) unit that serves contestable customers (end- users with at least 500-kW demand) including the country’s top corporations, within the Company’s franchise area. Lauded for its best-in- class service and reliable and stable power supply, MPower has established lasting partnerships with its customers and enjoys a market share of over 21% in MW demand of the country’s total Competitive Retail Electricity Market (“CREM”). MPower also manages a diversified supply portfolio and is actively increasing the share of solar and wind energy sources to complement traditional sources of power.

Vantage Energy Solutions and Management, Inc. (“Vantage Energy”)

Vantage Energy is Meralco’s first affiliate RES, which operates in Luzon, Visayas, and Mindanao. Established in 2017, it supplies energy to contestable customers where Retail Competition and Open Access (“RCOA”) is in effect. In recent years, the Company’s retail portfolio has grown, ably serving the energy needs of over 100 CREM end users. Adhering to its mission to provide stable, reliable, and quality electricity service, Vantage Energy is recognized as an emerging RES of choice in the CREM nationwide.

MGEN Retail Electricity Supplier Corporation (“MGEN RES”)

MGEN RES (formerly Global Energy Supply Corporation) offers a range of competitive service options and flexible schemes that are tailored according to the unique power requirements of businesses. MGEN RES sources electricity from diversified power generation facilities—allowing MGEN the flexibility to provide customers with the best-value energy solutions. Behind MGEN RES are experienced industry professionals who are committed to providing innovative services and excellent customer support.

Meralco Industrial Engineering Services Corporation (“MIESCOR”)

MIESCOR is Meralco’s oldest subsidiary. With its own subsidiaries MIESCOR Builders, Inc. (“MBI”), MIESCOR Logistics Inc. (“MLI”), and Customer Frontline Solutions (“CFS”), MIESCOR’s services include engineering, procurement, and construction (“EPC”) of electromechanical works; designing, building, and maintaining telecommunication infrastructures; utility attachment management; distribution utility services; trading of electrical supplies and equipment; and manpower services. The Philippine Contractor Accreditation Board (“PCAB”) places MIESCOR in the highest AAAA category for general engineering building, foundation work, structural steelwork, electrical work, mechanical work, and communication facilities.

MSpectrum, Inc. (“MSpectrum”)

Established in 2016 as part of Meralco’s thrust to promote RE solutions, MSpectrum provides affordable and safe solar energy products and services. MSpectrum has a total installed capacity of 95 MW across multiple solar projects nationwide. MSpectrum has four verticals: (1) Solar for Business forcommercial and industrial customers, (2) Microgrid for offgrid customers and Utility-Scale EPC for large-scale projects, (3) O&M for existing RE installations, and (4) development and management of Embedded Generation sites. Thecompany’s portfolio of customers includes those in the food & beverage manufacturing, cold storage, semiconductor, retail, and utility sectors.

Meralco Energy, Inc. (“MSERV”)

One of the country’s largest electromechanical contractors, MSERV is Meralco’s wholly owned subsidiary dedicated to providing after-the-meter energy services to commercial and industrial customers. The company offers energy- efficient solutions and digital power infrastructure. Additional services include energy auditing; EPC of mechanical and electrical facilities; operation and maintenance (“O&M”) of customer owned establishments; smart building and streetlight management; wastewater treatment; and hyperscale data center solutions.

MSERV is a Category AAA PCAB-licensed company and a DOE-accredited energy service company.

Movem Electric, Inc. (“Movem”)

As Meralco’s sustainable mobility arm, Movem provides the highest value end-to-end electric vehicle (“EV”) and charging solutions, purposely designed and tailored-fit to align with its clients’ sustainability and operational goals. Movem’s mission is to help spur the adoption of electric mobility in the Philippines.

Radius Telecoms, Inc. (“Radius”)

Radius focuses on developing an end-to-end fiber optic network that provides dedicated internet access, global networking, and cloud services across Metro Manila and its nearby provinces.

As of 2025, PLDT holds 34.9% ownership interest in Radius, strengthening the Company’s capital base and supporting its continued expansion in the telecommunications sector.

CIS Bayad Center, Inc. (“Bayad”)

Initially introduced as Meralco’s centralized bills payment channel, Bayad has steadily grown and expanded its financial services while also strengthening its commitment to sustainability practices by introducing innovative approaches to billing, optimizing internal operations, and improving workflows.

As of December 2025, Bayad’s nationwide footprint consists of 671 Bayad Centers, 70 company-owned branches, 336 franchisee-operated outlets, and 265 local store partners—a testament to its robust and growing presence across the country.