COVER SHEET 6 6 3 8 1 SEC Registration Number E N E R G Y D E V E L O P M E N T C O R P O R A T I O N (Company’s Full Name) 4 0 T H F L O O R , O N E C O R P O R A T E C E N T R E J U L I A V A R G A S C O R N E R M E R A L C O A V E . O R T I G A S C E N T E R P A S I G C I T Y (Business Address: No., Street City / Town / Province) ATTY. BERNADETTE ANN V. (02)8667-7332/(02)7755-2331 POLICARPIO Contact Person Company Telephone Number SEC Form 20-IS Amended Definitive Information Statement 1 2 3 1 1st Tuesday of May Month Day FORM TYPE Month Day Fiscal Year Annual Meeting Secondary License Type, If Applicable Dept Requiring this Doc Amended Articles Number / Section Total Amount of Borrowings Total No. of Stockholders Domestic Foreign To be accomplished by SEC Personnel concerned File Number LCU Document ID Cashier STAMPS Remarks: Please use BLACK ink for scanning purposes AMENDED NOTICE OF ANNUAL STOCKHOLDERS’ MEETING To All Stockholders: Notice is hereby given that the annual meeting of the stockholders of Energy Development Corporation (the “Company”) will be held virtually on May 11, 2021 at 10:00 A.M. Due to the COVID-19 situation, there will be no physical venue for the meeting. The meeting will be held via remote communication at https://conveneagm.com/ph/edc_asm2021, with the Chairman of the meeting presiding from Makati City, Metro Manila. Following is the updated agenda of the meeting1: 1. Call to Order 2. Proof of Notice and Certification of Quorum 3. Approval of the Minutes of the Previous Stockholders’ Meeting 4. Noting of the Management Report and Approval of the Audited Financial Statements for the year ended December 31, 2020 5. Ratification of Acts of Management and the Board of Directors 6. Change in the Principal Office of the Company and Amendment of the Third Article of the Articles of Incorporation, as necessary 7. Registration as a Qualified Institutional Buyer and Investment in Securities 8. Election of Directors 9. Appointment of External Auditor 10. Other Matters 11. Adjournment Stockholders of record as of March 1, 2021 are entitled to notice of, and to vote at, the said meeting. Stockholders intending to participate by remote communication should pre-register at https://conveneagm.com/ph/edc_asm2021 on or before 6:00 P.M. on May 6, 2021. Please refer to the Requirements and Procedure for Participation and Voting at the 2021 Annual Stockholders’ Meeting (attached as Annex “A” to the Amended Definitive Information Statement) for detailed information on participation by remote communication and voting in absentia (electronic voting) or by proxy. Pursuant to SEC Notice dated March 16, 2021, a copy of the amended notice of the meeting, Amended Definitive Information Statement, minutes of the previous meeting of the stockholders, and other documents related to the meeting may be accessed through the Company’s website: www.energy.com.ph. 1 For the details and rationale of the updated Agenda, please refer to Annex “B-1” of the Amended Definitive Information Statement. For any question about the conduct of the virtual meeting, you may refer to the Frequently Asked Questions in the Company’s website or email [email protected]. Pasig City, Metro Manila, Philippines, April 30, 2021. BERNADETTE ANN V. POLICARPIO Corporate Secretary TABLE OF CONTENTS PART I. INFORMATION REQUIRED IN INFORMATION STATEMENT……………………………………………………………… 1 A. GENERAL INFORMATION……………………………………………………………………………………………………………………….. 1 Item 1. Date, time and place of meeting of security holders……………………………………………………………………….. 1 Item 2. Dissenters' Right of Appraisal…………………………………………………………………………………………………………. 1 Item 3. Interest of Certain Persons in or Opposition to Matters to be Acted Upon……………………………………… 2 B. CONTROL AND COMPENSATION INFORMATION…………………………………………………………………………………….. 2 Item 4. Voting Securities and Principal Holders Thereof……………………………………………………………………………… 2 Item 5. Directors and Executive Officers……………………………………………………………………………………………………… 4 Item 6. Compensation of Directors and Executive Officers………………………………………………………………………….. 17 Item 7. Independent Public Accountants ……………………………………………………………………………………………………. 18 Item 8. Compensation Plans..……………………………………………………………………………………………………………………… 18 C. ISSUANCE AND EXCHANGE OF SECURITIES …………………………………………………………………………………………….. 18 Item 9. Authorization or Issuance of Securities Other than for Exchange …………………………………………………… 18 Item 10. Modification or Exchange of Securities ………………………………………………………………………………………… 18 Item 11. Financial and Other Information ………………………………………………………………………………………………….. 18 Item 12. Mergers, Consolidations, Acquisitions and Similar Matters…………………………………………………………… 18 Item 13. Acquisition or Disposition of Property…………………………………………………………………………………………… 18 Item 14. Restatement of Accounts……………………………………………………………………………………………………………… 18 D. OTHER MATTERS……………………………………………………………………………………………………………………………………. 19 Item 15. Action with Respect to Reports…………………………………………………………………………………………………….. 19 Item 16. Matters Not Required to be Submitted…………………………………………………………………………………………. 19 Item 17. Amendment of Charter, Bylaws or Other Documents……………………………………………………………………. 19 Item 18. Other Proposed Action…………………………………………………………………………………………………………………. 19 Item 19. Voting Procedures………………………………………………………………………………………………………………………… 19 PART II INFORMATION REQUIRED IN A PROXY FORM………………………………………………………………………………… 20 PART III MANAGEMENT REPORT………………………………………………………………………………………………………………… 22 PART IV CORPORATE GOVERNANCE…………………………………………………………………………………………………………… 57 PART V LEGAL PROCEEDINGS……………………………………………………………………………………………………………………… 70 PART VI UNDERTAKING……………………………………………………………………………………………………………………………… 73 SIGNATURE PAGE………………………………………………………………………………………………………………………………………. 74 ANNEX “A” – REQUIREMENTS AND PROCEDURE FOR PARTICIPATION AND VOTING AT THE 2021 ANNUAL STOCKHOLDERS’ MEETING…………………………………………………………………………………………………………………………. 75 ANNEX “B” – FORM OF PROXY…………………………………………………………………………………………………………………… 79 ANNEX “B-1” – DETAILS AND RATIONALE OF THE AGENDA….…………………………………………………………………….. 81 ANNEX “B-2” – SUMMARY OF THE ACTS OF MANAGEMENT AND THE BOARD OF DIRECTORS……………………. 84 EXHIBIT “1” CERTIFICATE OF INDEPENDENT DIRECTOR (MANUEL I. AYALA)………………………………………………… 86 EXHIBIT “2” CERTIFICATE OF INDEPENDENT DIRECTOR (SEBASTIAN C. QUINIONES, JR.)……………………………… 88 EXHIBIT “3” CERTIFICATE OF INDEPENDENT DIRECTOR (TERESA GRACE SOCORRO G. LARA)………………………. 89 CERTIFICATION THAT NO DIRECTOR IS EMPLOYED BY AND/OR CONNECTED WITH THE GOVERNMENT……… 90 CERTIFICATION ON ELECTRONIC SUBMISSION …………………………………………………………………………………………… 91 SECURITIES AND EXCHANGE COMMISSION SEC FORM 20-IS INFORMATION STATEMENT PURSUANT TO SECTION 20 OF THE SECURITIES REGULATION CODE 1. Check the appropriate box: [ ] Preliminary Information Statement [ X ] Definitive Information Statement 2. Name of Registrant as specified in its charter ENERGY DEVELOPMENT CORPORATION 3. PHILIPPINES Province, country or other jurisdiction of incorporation or organization 4. SEC Identification Number 66381 5. BIR Tax Identification Code 000-169-125-000 6. ONE CORPORATE CENTRE JULIA VARGAS CORNER MERALCO AVENUES, ORTIGAS CENTER, PASIG CITY, PHILIPPINES 1605 Address of principal office Postal Code 7. Registrant’s telephone number, including area code (632) 7755-2331 8. Date, time and place of the meeting of security holders Date: May 11, 2021 Time: 10:00 A.M. Place: Given the COVID-19 situation, there will be no physical venue for the annual stockholders’ meeting. The meeting will be held via remote communication through https://conveneagm.com/ph/edc_asm2021, with the Chairman of the meeting presiding from Makati City, Metro Manila. 9. Approximate date on which the Information Statement is first to be sent or given to security holders April 19, 2021 10. In case of Proxy Solicitations: Name of Person Filing the Statement/Solicitor: ENERGY DEVELOPMENT CORPORATION https://conveneagm.com/ph/edc_asm2021 11. Securities registered pursuant to Sections 8 and 12 of the Code or Sections 4 and 8 of the RSA (information on number of shares and amount of debt is applicable only to corporate registrants): Title of Each Class Number of Shares of Common Stock Outstanding or Amount of Debt Outstanding a) Authorized Capital Stock Common Shares, Php1.00 par value 27,000,000,000 shares Voting Preferred Shares, Php0.01 par value 15,000,000,000 shares Non-Voting Preferred Shares, Php10.00 par value 300,000,000 shares ENERGY DEVELOPMENT CORPORATION Definitive Information Statement Page | i b) Issued and Outstanding Shares (as of March 31, 2021) Common Shares, Php1.00 par value 17,048,570,821 shares (exempt securities) Preferred Shares, Php0.01 par value 9,375,000,000 shares (exempt securities) c) Amount of Debt Outstanding (as of March 31, 2021) Php52,363,481,634.18 12. Are any or all of registrant's securities listed in a Stock Exchange? Yes No ___X____ (but please see below listings of other securities) If yes, disclose the name of such Stock Exchange and the class of securities listed therein: PHILIPPINE DEALING EXCHANGE - FIXED-RATE PESO PUBLIC BONDS SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (SGX-ST) - USD BONDS ENERGY DEVELOPMENT CORPORATION Amended Definitive Information Statement Page | ii ENERGY DEVELOPMENT CORPORATION Annual Stockholders’ Meeting May 11, 2021 PART I. INFORMATION REQUIRED IN INFORMATION STATEMENT A. GENERAL INFORMATION Item 1. Date, time and place of meeting of security holders. The annual stockholders’ meeting of ENERGY DEVELOPMENT CORPORATION (hereinafter, “EDC”, the “Registrant”, or the “Company”)