Citicore Energy REIT : Acquisition or Disposition of Assets

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) Jun 6, 20222. SEC Identification Number CS2010107803. BIR Tax Identification No. 007-813-849-0004. Exact name of issuer as specified in its charter Citicore Energy REIT Corp. 5. Province, country or other jurisdiction of incorporation Philippines 6. Industry Classification Code(SEC Use Only) 7. Address of principal office 11F, Rockwell Santolan Town Plaza, 276 Col. Bonny Serrano Avenue, San Juan City, Metro ManilaPostal Code15008. Issuer's telephone number, including area code [phone]. Former name or former address, if changed since last report NA10. 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 Shares	6,545,454,004

11. Indicate the item numbers reported herein Item No. 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.

Citicore Energy REIT Corp.CREIT PSE Disclosure Form REIT-4 - Acquisition or Disposition of Assets
References: Rule 5 of the IRR of the REIT Act of 2009 and
Section 6 of the Amended PSE Listing Rules for REITS

Subject of the Disclosure

Acquisition of a parcel of land located in the Municipality of Surallah, Province of South Cotabato, with an area of 79,997 square meters (the "South Cotabato Property").

Background/Description of the Disclosure

On March 9, 2022, CREIT's Board of Directors ("BOD") approved the acquisition of the South Cotabato Property and the subsequent execution of a lease agreement. The acquisition of the South Cotabato Property is an asset purchase from Citicore Solar South Cotabato, Inc. ("Citicore South Cotabato"). On June 06, 2022, CREIT entered into a Deed of Absolute Sale ("DOAS") with Citicore South Cotabato for the acquisition of the South Cotabato Property for PhP753,801,981.00.

Date of Approval by Board of Directors

Mar 9, 2022

Details of the Acquisition or Disposition

Date	Jun 6, 2022

Description of the Assets Involved

The South Cotabato Property is a parcel of land located in the Municipality of Surallah, Province of South Cotabato, with an area of 79,997 square meters. The property is the site of Citicore South Cotabato's 6.23MWp Solar Power Plant, which was successfully commissioned on December 9, 2015.

Details of the Assets

Type (land, building, etc.)	Location	Size	Rights Acquired (Ownership/ Leasehold etc.)
Land	Brgy. Centrala, Surallah, Province of South Cotabato	79,997 square meters	Full ownership

Terms and conditions of the transaction

Contract price, valuation and the methods used to value the assets

The contract price of the transaction is PhP753,801,981.00. The property was valued using Income Approach adopting the Discounted Cash Flow Method based on a weighted average cost of capital (WACC) using the Capital Asset Pricing Model. The Direct Capitalization Approach was also used as a secondary method to cross-check the value of the property. The BOD's approval for the acquisition was reached after a favorable endorsement from CREIT's Real Party Transaction Review and Compliance Committee, which considered the valuation report of the Third Party Appraiser, the fairness opinion and valuation report of the Independent External Party, and the recommendation of the Fund Manager.

Terms of payment

The total purchase price of PhP753,801,981.00 was paid in cash upon the execution of the DOAS.

Conditions precedent to closing of the transaction, if any

The execution of the DOAS took place after the issuance by CREIT's Compliance Officer that its execution is compliant with existing laws, rules, and regulations. The transaction was consummated upon full payment of the purchase price.

Any other salient terms

Immediately after the execution of the DOAS, CREIT and Citicore South Cotabato executed a lease agreement for a term of 25 years.

Identity of the person(s) from whom the assets were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Citicore Solar South Cotabato, Inc.	Citicore South Cotabato is wholly-owned by Sikat Solar Holdco, Inc. ("SSHI"). In turn, SSHI is wholly-owned by Citicore Renewable Energy Corporation ("CREC"). CREC owns 47.63% of CREIT.

Discussion on the probable impact of the transaction on the business, financials and other aspects of the REIT

Together with the acquisition of the 253,880 square meters of land located in Barangay Pasong Bangkal, San Ildefonso, Province of Bulacan (the "Bulacan Property"), the acquisition of the South Cotabato Property will allow CREIT to generate leasing income over a long-term period of 25 years, adding 20% to its total leased area. The two properties will contribute 21% to CREIT's total lease revenue and bring total operating capacity of all its tenants to 145MWdc from CREIT's pre-Initial Public Offering capacity of 124MWdc.

Other Relevant Information

This disclosure is being amended to reflect the execution of the DOAS between CREIT and Citicore South Cotabato.

Filed on behalf by:

Name	James Jumalon
Designation	Assistant Corporate Secretary