4 May 2020

PHILIPPINE STOCK EXCHANGE

Disclosure Department
3/F PSE Plaza, Ayala Triangle
Ayala Avenue, Makati City

Attention: MS. JANET A. ENCARNACION

Head
Disclosure Department

Re: CLARIFICATION OF MAYNILAD NEWS REPORTS

We write in connection with certain news reports citing MPIC’s statement in its Annual Report that
the waiver of its claims against the government amounting to Php6.7 Billion was “[u]nder the
pressure and duress of a Congressional hearing, prior to which Maynilad was threatened with the
revocation of its concession” and alleging that this statement “shows Maynilad’s intention to renege
on its waiver”.

We wish to clarify that the aforesaid statement in MPIC’s Annual Report merely referred to the
timing of the issuance of the waiver. The allegation that Maynilad intends to renege on its waiver is
baseless as in fact the waiver was unanimously ratified on March 2, 2020 by the Maynilad Board of
Directors. It is noteworthy that the Board of Directors’ approval was obtained after consultation with
the three major shareholders of Maynilad namely, MPIC, DMCI and Marubeni.

Maynilad is currently focused on supporting the government’s efforts in fighting the COVID-19
pandemic and ensuring the uninterrupted delivery of its services to its consumers amidst the
COVID-19 pandemic.

We trust that this clarifies.

Thank you.

Very truly yours,

JOSE MA. K. LIM

President and CEO