First Gen Corporation · PSE:FGEN

First Gen — Shareholder Meeting (November 2007)

7 slides from First Gen's shareholder meeting presentation, Nov 7, 2007

  1. Slide 1: Special Stockholders' Meeting

    Special Stockholders’ Meeting November 7, 2007

  2. Slide 2: First Gen plans to double its net attributable capacity to 1,968MW by 2011

    FIRST GEN PLANS TO DOUBLE ITS NET ATTRIBUTABLE CAPACITY TO 1,968MW BY 2011 Portfolio development (Net MW) + Bauang + Panay + Santa Rita + San Lorenzo - Panay (sold) + Pantabangan/Masiway (PMHC) 1,968 2,100 Net capacity (MW) 1,800 1,500 GOAL 1,098 1,200 1,020 986 900 720 600 300 42 78 0 1995 1999 200

  3. Slide 3: The company is looking at numerous transactions from now until 2009

    THE COMPANY IS LOOKING AT NUMEROUS TRANSACTIONS THAT WILL HAPPEN FROM NOW UNTIL 2009 Decommissioned Geothermal Hydro 850MW Sucat 192.5MW Palinpinon* 112MW Tongonan 75MW Ambuklao (Manila) (Negros Oriental ) 246MW Angat (Leyte) (Benguet) 05 Dec 07 (Bulacan) 100MW Binga 700MW Tiwi/Makban PNOC-EDC (Beng

  4. Slide 4: Cost-competitive expansions/greenfield projects in hydro, natural gas, and coal

    THE COMPANY IS LIKEWISE LOOKING AT COST- COMPETITIVE EXPANSIONS/GREENFIELD PROJECTS IN HYDRO, NATURAL GAS, AND COAL Organic Growth Project PMHC San Gabriel Pagbilao MW Expansion 17 MW (phase 1) 500 MW (2 x 250) 385 MW Est. Cost US$30 million US$400 million US$578 million Fuel Hydro Natural Gas and/o

  5. Slide 5: The Funding Plan: First Gen has paid down US$480.0MM in debt since 2000

    THE FUNDING PLAN FIRST GEN HAS PAID DOWN US$480.0MM IN DEBT SINCE 2000, IT CAN TAP THE DEBT MARKET FOR REFINANCING AND ITS GROWTH PLANS Consolidated Debt • Strong credit ratios – Aaa-rated domestic bond of Php5 billion 850 806 – Debt-to-Equity ratio of 0.7x* leaves room 800 for more leverage 737 748

  6. Slide 6: Increase capitalization through issuance of 200 million preferred shares

    TO LINE UP OUR FUNDRAISING OPTIONS, FIRST GEN WILL INCREASE ITS CAPITALIZATION THROUGH THE ISSUANCE OF 200 MILLION PREFERRED SHARES AT A PAR VALUE OF PHP10.00 PER SHARE • Authorized capital will be composed of the following: Type Shares Par per Share Total Common 1.15 billion PHP 1.00 PHP 1.15 billi

  7. Slide 7: End of Presentation

    END OF PRESENTATION visit us at www.firstgen.com.ph 7

First Gen — Shareholder Meeting (November 2007) on 6ix