Semirara Mining & Power Corp. · PSE:SCC
Semirara Mining & Power — Q1 2026 Earnings Presentation
51 slides from Semirara Mining & Power's earnings presentation, May 4, 2026
Slide 1: Q1 2026 Analysts' Briefing
Q1 2026 Analysts’ Briefing 04 May 2026 Makati City via remote communication
Slide 2: Management Team
Management Team SEMIRARA MINING AND POWER CORPORATION ISIDRO A. MARIA CRISTINA C. CARLA CRISTINA T. CHRISTOPHER THOMAS C. CONSUNJI GOTIANUN LEVINA GOTIANUN Chairman and CEO President, COO and CSO VP, CFO EVP, Chief Technical and Commercial Officer COAL SEGMENT POWER SEGMENT MARK LOUIS A. DANILO S. R
Slide 3: Stable coal cushions power output dip
Q1 2026 GROUP HIGHLIGHTS Stable coal cushions power output dip § Net income and EPS declined 12% to § Coal contribution remained § Power contribution contracted 27% Php 3.82 bn and Php 0.90/share, steady at Php 2.43 bn, supported to Php 1.46 bn, due to weaker plant respectively, on lower coal and po
Slide 4: Coal Market Snapshot: Benchmarks rebound amid global fuel shifts
COAL MARKET SNAPSHOT Benchmarks rebound amid global fuel shifts 400 Forecast Ave. Q2 2026 350 NEWC: US$131.6 ICI4: US$58.5 300 New Russian sanctions, High China normalizing demand, Seasonal Indonesia 250 and Europe Asian oversupply demand In US$/ton production stockpiles Curbed and fuel quota and 20
Slide 5: Power Market Snapshot: Spot prices ease on soft demand
POWER MARKET SNAPSHOT Spot prices ease on soft demand Forecast Ave. Q2 2026 9.00 Php 5.37 18,000 8.00 16,000 7.00 6.00 14,000 6.00 12,000 5.00 4.11 10,000 4.00 3.25 2.99 8,000 3.00 Middle East 6,000 Peak Luzon El Niño season; Peak Luzon Cooler War; 2.00 Heat Index: Reintegration and additional Heat
Slide 6: Earnings mix shifts toward coal in Q1
GROUP EARNINGS BREAKDOWN AND REVIEW Earnings mix shifts toward coal in Q1 In PHP mn Q1 2026 Q1 2025 Change Key Takeaways Coal 2,428 2,417 0% ● Earnings declined on weaker power contribution, partly offset Power 1,458 2,011 -27% by stable coal performance CHP (75) (80) 6% ● Quarter-over-quarter earni
Slide 7: Solid balance sheet with manageable leverage
GROUP INCOME STATEMENT HIGHLIGHTS Solid balance sheet with manageable leverage Key Takeaways In PHP mn Q1 2026 Q1 2025 Change ● Revenues declined 7% on lower coal shipments and reduced Revenues 15,425 16,509 -7% power sales Cash Cost* 9,109 9,819 -7% ● Cash costs decreased in line with revenues, dri
Slide 8: Margins improve ahead of mine transition
COAL STANDALONE FINANCIAL HIGHLIGHTS Margins improve ahead of mine transition Key Takeaways In PHP mn Q1 2026 Q1 2025 Change ● Revenues dipped on lower shipments, with ASP remaining Revenues 11,176 11,777 -5% stable COS – Cash Cost 5,510 6,227 -12% Government Share 1,027 1,126 -9% ● COS – Cash Cost
Slide 9: Higher output lifts inventories, expands markets
COAL STANDALONE OPERATING HIGHLIGHTS Higher output lifts inventories, expands markets Key Takeaways Q1 2026 Q1 2025 Change ● Production increased on improved access to Narra seams, Strip Ratio (S/R) supporting higher output and a lower strip ratio; mine expected Aggregate* 9.4 11.7 -20% to deplete b
Slide 10: Lower generation weighs on power earnings
POWER STANDALONE FINANCIAL HIGHLIGHTS Lower generation weighs on power earnings Key Takeaways In PHP mn Q1 2026 Q1 2025 Change ● Revenues declined on lower electricity sales Revenues 5,078 6,306 -19% Cash Cost* 2,995 3,506 -15% ● Cash costs fell 15%, driven by lower dispatch and improved fuel manage
Slide 11: Weaker output, stronger contracted sales mix
POWER OPERATING HIGHLIGHTS Weaker output, stronger contracted sales mix Key Takeaways Key Metrics Q1 2026 Q1 2025 Change ● Overall plant availability declined to 67% (from 89%) due to Plant Availability (%) 67% 89% -25% higher outage days (117 vs. 41), mainly from continued SCPC 57% 90% -37% SCPC Un
Slide 12: Positioning for COC bid round amid market shifts
OUTLOOK Positioning for COC bid round amid market shifts DRIVERS §Acacia mine ramp up and efficiencies §Flexible contracting strategy §Expanded markets for mid-to-low calorific coal §Continued fuel and operational efficiency §Inventory levels and quality §Economic and industrial recovery RISKS §Acac
Slide 13: Key Takeaways
Key Takeaways ● Overall performance was shaped by mixed conditions, with stable coal offsetting weaker power output ● The Group maintained disciplined cost management, along with prudent contracting and capital deployment ● Strong liquidity and a healthy balance sheet provide flexibility and positio
Slide 14: Annex
ANNEX • Coal Segment Updates • Power Segment Updates • ESG Updates • Market Outlook • Consolidated Capex • Debt Profile • Power segment, SCPC and SLPGC Highlights • 2026 Plant Outages Summary • Statements of Income and Financial Position
Slide 15: 2026 Coal Segment Guidance
2026 Coal Segment Guidance Shipments Pricing Target Mix Coal Operating Contract Bid Round Timeline Domestic 27 February 2026 54% Spot Indexed and Fixed Update: DOE launch of PCECP* for 14 to 15 43% 57% Coal Bid Round The DOE has MMT 19 March 2026 rescheduled bid Pre-submission Bid Conference submiss
Slide 16: 2026 Power Segment Guidance
2026 Power Segment Guidance Market Developments Upcoming Planned Outages (Next 12 Months) • March 26, 2026 25 August 26 January WESM suspended by Energy Regulatory Commission (ERC) and SLPGC Unit 1 SLPGC Unit 2 25 days 2026 a modified administered pricing mechanism is applied 30 days 2027 • May 1, 2
Slide 17: Climate-Nature Stewardship
Climate-Nature Stewardship PROTECTION AND RESTORATION TERRESTRIAL BIODIVERSITY AND HABITATS Terrestrial Ecosystem Restoration and Conservation 1.6K ha** TERRESTRIAL HABITATS RESTORED AND PROTECTED 719 ha* 597 ha* 3.2M** MINED-OUT REFORESTED AREA TOTAL TREES AREA OUTSIDE MINE PLANTED TO DATE REFOREST
Slide 18: Climate-Nature Stewardship
Climate-Nature Stewardship PROTECTION AND RESTORATION TERRESTRIAL BIODIVERSITY AND HABITATS Terrestrial Ecosystem Restoration and Conservation 121 301 373 ENDANGERED VULNERABLE TOTAL BIRDS BIRDS BIRDS IN SBCC 842 102 10 ENDANGERED TOTAL TOTAL MAMMALS PHILIPPINE BOX REPTILES IN IN SEMIRARA TURTLES SB
Slide 19: Climate-Nature Stewardship
Climate-Nature Stewardship PROTECTION AND RESTORATION MARINE AND COASTAL BIODIVERSITY AND HABITATS Marine and Coastal Ecosystem Restoration and Conservation 8 out of 12* 81K* KNOWN GIANT CLAM GIANT CLAMS RESEEDED SPECIES PROPAGATED SINCE 2010 287.72 ha 3 MARINE HABITATS LOCAL MARINE PROTECTED RESTOR
Slide 20: Social Inclusion
Social Inclusion DIVERSTY, EQUALITY, INCLUSION EMPLOYMENT AND EQUAL OPPORTUNITY 4,178 549 COAL SEGMENT DIRECT POWER SEGMENT DIRECT EMPLOYEES EMPLOYEES 319 81 COAL SEGMENT FEMALE POWER SEGMENT DIRECT EMPLOYEES FEMALE DIRECT EMPLOYEES 2,162 2,269 COAL SEGMENT POWER SEGMENT INDIRECT EMPLOYEES INDIRECT
Slide 21: Social Inclusion
Social Inclusion DIVERSTY, EQUALITY, INCLUSION EMPLOYMENT AND EQUAL OPPORTUNITY 34.42 20.38 COAL SEGMENT AVG. POWER SEGMENT AVG. TRAINING HOURS PER TRAINING HOURS PER EMPLOYEE EMPLOYEE 33.30 29.52 COAL SEGMENT AVG. POWER SEGMENT AVG. TRAINING HOURS PER TRAINING HOURS PER FEMALE EMPLOYEE FEMALE EMPLO
Slide 22: Social Inclusion
Social Inclusion EMPLOYEE WELFARE OCCUPATIONAL SAFETY AND HEALTH 0.30 0 TOTAL LTIFR DIRECT TOTAL LTIFR INDIRECT EMPLOYEES EMPLOYEES 0.35 0 COAL SEGMENT LTIFR COAL SEGMENT LTIFR DIRECT EMPLOYEES CONTRACTORS/ INDIRECT EMPLOYEES 0 0 POWER SEGMENT LTIFR POWER SEGMENT LTIFR DIRECT EMPLOYEES CONTRACTORS/
Slide 23: Social Inclusion
Social Inclusion DIVERSTY, EQUALITY, INCLUSION SUSTAINABLE PARTNERSHIPS 18 PARTNER COMMUNITY AND PEOPLE ORGANIZATIONS 12 PARTNER GOVERNMENT OFFICES AND ATTACHED AGENCIES 9 NEW SUPPLIERS ACCREDITED USING ENVIRONMENTAL CRITERIA 34 NEW SUPPLIERS ACCREDITED USING SOCIAL CRITERIA UPDATES • OUTLOOK • CAPE
Slide 24: Social Inclusion
Social Inclusion RESILIENT INFRASTRUCTURES TRANSPORTATION AND CONNECTIVITY 51 KM 1.8 KM SEMIRARA ISLAND SEMIRARA ISLAND INTERCONNECTED AIRSTRIP ROAD NETWORK 2 4 SHIP PORTS TELECOMMUNICATION TOWERS WITH 4G CONNECTIVITY Note: All figures and data apply to Coal Segment only UPDATES • OUTLOOK • CAPEX •
Slide 25: Social Inclusion
Social Inclusion RESILIENT INFRASTRUCTURES TRANSPORTATION AND CONNECTIVITY 200 250K MAX PASSENGER PASSENGERS CAPACITY OF TRANSPORTED BY MV MV MA. CRISTINA MA. CRISTINA SINCE 2016 17 10.7K VEHICLES FOR FREE DAILY PASSENGERS OF SHUTTLE SERVICE IN FREE SHUTTLE SERVICE SEMIRARA ISLAND Note: All figures
Slide 26: Social Inclusion
Social Inclusion RESILIENT INFRASTRUCTURES COMMERCIAL AND BUSINESS HUBS 715 1 REGISTERED MSME RURAL BANKS WITH IN SEMIRARA ATM IN SEMIRARA ISLAND ISLAND 34 68 MSME TENANTS IN MSME TENANTS IN SEMIRARA FOOD SEMIRARA WET & DRY COURT MARKET Note: All figures and data apply to Coal Segment only UPDATES •
Slide 27: Social Inclusion
Social Inclusion BROADER ACCESS FOR ALL EDUCATION 30 32 COAL SEGMENT POWER SEGMENT CURRENT COMMUNITY CURRENT COMMUNITY SCHOLARS SCHOLARS 52 104 COAL SEGMENT POWER SEGMENT COMMUNITY SCHOLARSHIP COMMUNITY SCHOLARSHIP GRADUATES GRADUATES 265* 121* ALTERNATIVE LEARNING ALTERNATIVE LEARNING SYSTEM (ALS)
Slide 28: Social Inclusion
Social Inclusion BROADER ACCESS FOR ALL EDUCATION 5.5K* DIVINE WORD SCHOOL OF SEMIRARA ISLAND, INC. (DWSSII) GRADUATES SINCE 2003 2.0K* SEMIRARA TRAINING CENTER, INC. (STCI) TECHNICAL SKILL GRADUATES SINCE 2006 1.2K** SCPC AND SLPGC SKILLS TRAINING PROGRAM GRADUATES SINCE 2012 * Applies to Coal Segm
Slide 29: Social Inclusion
Social Inclusion BROADER ACCESS FOR ALL COMMUNITY HEALTH AND WELFARE 1 15 DOH-ACCREDITED AND BED CAPACITY OF THE PHILHEATH-LICENSED INFIRMARY INFIRMARY IN SEMIRARA ISLAND 112K PATIENTS SERVED BY SMPC INFIRMARY SINCE 2023 602 MEDICAL MISSION BENEFICIARIES IN 2026 *Applies to Coal Segment only UPDATES
Slide 30: Social Inclusion
Social Inclusion NON-MINING LIVELIHOOD TAILORING AND DRESSMAKING 34* WOMEN DRESSMAKERS FROM SEMIRARA WOMEN’S ORGANIZATION 12** DRESSMAKERS FROM SAMAHAN NG NAGKAKAISANG MAGSASAKA NG CALANTAS (SAMASACA) 3,117 CLOTHING GARMENTS PRODUCED IN 2026 *Applies to Coal Segment only Applies to Power Segment onl
Slide 31: Social Inclusion
Social Inclusion NON-MINING LIVELIHOOD HANDICRAFT AND CRAFTSMANSHIP 22 HANDICRAFTS AND WOODWORKING WORKERS 396 NATIVE HANDICRAFTS AND PRODUCTS MADE IN 2026 17 CONCRETE HOLLOW BLOCKS (CHB) FABRICATORS Note: All figures and data apply to Coal Segment only UPDATES • OUTLOOK • CAPEX • DEBT PROFILE • OPE
Slide 32: Social Inclusion
Social Inclusion NON-MINING LIVELIHOOD AGRO-LIVESTOCK FARMING 1 19 AGRO MODEL FARM AGRO MODEL FARM WORKERS 4.3K kg VEGETABLE CROPS PRODUCED AND HARVESTED IN 2026 Note: All figures and data apply to Coal Segment only UPDATES • OUTLOOK • CAPEX • DEBT PROFILE • OPERATING HIGHLIGHTS • FINANCIALS 32
Slide 33: Social Inclusion
Social Inclusion NON-MINING LIVELIHOOD AGRO-LIVESTOCK FARMING 1 12 POULTRY MODEL POULTRY MODEL FARM FARM WORKERS 656 40.9K CHICKEN EGGS PRODUCED QUAIL EGGS PRODUCED BY BY BENEFICIARIES IN 2026 BENEFICIARIES IN 2026 Note: All figures and data apply to Coal Segment only UPDATES • OUTLOOK • CAPEX • DEB
Slide 34: Social Inclusion
Social Inclusion NON-MINING LIVELIHOOD AQUACULTURE AND FISHERIES 96 2.7K KG FISHERFOLK TOTAL FISH CAUGHT BENEFICIARIES IN 2026 10 SEAWEED CHIPS PROCESSING BENEFICIARIES Note: All figures and data apply to Coal Segment only UPDATES • OUTLOOK • CAPEX • DEBT PROFILE • OPERATING HIGHLIGHTS • FINANCIALS
Slide 35: ESG News & Updates
ESG News & Updates Social Inclusion SMPC's Q1 Medical Mission Supports Women and the Community SMPC successfully conducted its Quarter 1 Medical Mission from March 25 to 27, providing essential healthcare services to community members, with a focus on women in celebration of Women’s Month. A total o
Slide 36: ESG News & Updates
ESG News & Updates Social Inclusion SCPC and SLPGC hold voluntary Blood Donation Drive SCPC and SLPGC successfully conducted a voluntary blood donation drive last March 19 in partnership with the Philippine Red Cross – Batangas Chapter, Nasugbu Branch. Generous employees and contractors volunteered
Slide 37: ESG News & Updates
ESG News & Updates Environmental Stewardship SCPC and SLPGC hold Coastal Cleanup with BFP A coastal clean-up drive was successfully conducted on March 25, in Barangay Quisumbing, City of Calaca, led by the Bureau of Fire Protection (BFP). Volunteers from SCPC, SLPGC, along with other locators and se
Slide 38: Market Outlook
Market Outlook Newcastle Prices (in USD/MT) Indonesian Coal Index 4 (in USD/MT) WESM Spot Prices (in Php/KWh) 59 6.91 137 57 138 134 55 55 55 134 134 53 4.19 126 52 52 132 4.61 5.37 5.23 119 3.82 49 46 4.04 4.35 3.63 3.51 3.75 105 108 107 47 99 3.45 42 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 2020 2
Slide 39: Consolidated Capex
Consolidated Capex Key Takeaways In PHP bn Q1 2026 Q1 2025 Change ● Q1 capex down 79%, mainly due to absence of coal re- Coal 0.3 2.1 -86% fleeting and timing of power projects Power 0.2 0.3 -33% ● Full year capex to decline significantly, with no major re- Total 0.5 2.4 -79% fleeting as coal invest
Slide 40: Debt Profile
DEBT PROFILE Debt Profile In PHP billion Loans and Cash Position Loan Maturity Schedule 176% March 2026 13% 87% 5.8 Total Loans 2.1 March 2025 89% 11% 1% <1 year 1 to 2 years More than 4 years 10.6 Cash and cash equivalents 10.5 43% Floating and Fixed 4.8 Net Cash 8.4 March 2026 87% 13% 32pp 5.56 Ma
Slide 41: SCPC Standalone Financial Highlights
SCPC STANDALONE FINANCIAL HIGHLIGHTS In PHP mn Q1 2026 Q1 2025 Change Key Takeaways Revenues 3,389 4,314 -21% ● Revenues declined due to reduced output, cushioned by Cash Cost* 1,917 2,325 -18% better ASP Core EBITDA 1,472 1,989 -26% ● Lower cash costs driven by reduced power sales and D&A** 406 400
Slide 42: SCPC Operating Highlights
SCPC OPERATING HIGHLIGHTS Key Takeaways Q1 2026 Q1 2025 Change ● Plant availability declined due to the continued forced Plant Availability (in %) 57% 90% -37% outage of Unit 1 following the turbine rotor incident on 31% 87% -64% Unit 1 September 19, 2025; total outage days rose to 77 (from 18) Unit
Slide 43: SLPGC Standalone Financial Highlights
SLPGC STANDALONE FINANCIAL HIGHLIGHTS In PHP mn Q1 2026 Q1 2025 Change Key Takeaways Revenues 1,689 1,992 -15% ● Revenues declined due to lower power generation from Unit 2 Cash Cost* 1,078 1,181 -9% ● Cash costs decreased with lower dispatch and efficient fuel Core EBITDA 611 811 -25% management, p
Slide 44: SLPGC Operating Highlights
SLPGC OPERATING HIGHLIGHTS Key Takeaways Q1 2026 Q1 2025 Change ● Plant availability declined due to higher outage days Plant Availability (in %) 78% 87% -10% (40 vs. 23); Unit 2 underwent a 25-day planned 100% 100% 0% Unit 1 maintenance and 15 days of forced outage, Unit 2 56% 75% -25% while Unit 1
Slide 45: Historical Power Plant Performance
Historical Power Plant Performance SCPC SLPGC Gross Generation (in GWh) Gross Generation (in GWh) 3,655 3,192 3,370 1,387 1,613 2,317 2,022 1,988 2,040 1,713 1,698 258 963 1,019 1,032 705 999 486 1,455 1,805 1,757 1,338 1,059 969 1,008 544 699 174 161 312 2022 2023 2024 2025 Q1 2026 2022 2023 2024 2
Slide 46: 2026 Plant Outages Summary
2026 Plant Outages Summary As of April 2026 Unit 1 Unit 2 Unit 1 Unit 2 Actual Total • January 17 to Planned none none none 25 days February 10 • December 16, 2025 • January 4 to 9 • March 6 to 16 Unplanned none 96 days to March 4, 2026 • March 8 to 17 • March 27 to April 4 Actual Total 62 days 15 d
Slide 47: Overall Power Segment Statement of Income
Overall Power Segment Statement of Income in Php mn Q1 2026 Q1 2025 Change Revenues 5,078 6,306 -19% COS (1,905) (2,471) -23% OPEX (1,090) (1,035) 5% Cash cost (2,995) (3,506) -15% Core EBITDA 2,083 2,800 -26% Depreciation and amortization (811) (759) 7% Other income (expense) 193 108 79% EBIT 1,465
Slide 48: Standalone Statements of Income
Standalone Statements of Income Q1 2026 Q1 2025 In Php millions % COAL SCPC SLPGC CHP Others Combined COAL SCPC SLPGC CHP Others Combined Revenues 11,176 3,389 1,689 - 276 16,530 11,777 4,314 1,992 - 201 18,284 -10% COS (5,510) (1,286) (619) - (262) (7,677) (6,227) (1,753) (718) - (197) (8,895) -14%
Slide 49: Consolidated Statements of Income
Consolidated Statements of Income Q1 2026 Q1 2025 In Php millions % COAL SCPC SLPGC CHP Others Conso COAL SCPC SLPGC CHP Others Conso Revenues 10,071 3,389 1,689 - 276 15,425 10,022 4,314 1,992 - 181 16,509 -7% COS (4,927) (1,041) (521) - (262) (6,751) (5,119) (1,435) (643) - (177) (7,374) -8% Govt
Slide 50: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position In Php millions SMPC SCPC SLPGC CHP Others Mar 2026 SMPC SCPC SLPGC CHP Others Dec 2025 % Cash and cash equivalents 8,930 672 840 - 143 10,585 872 1,572 1,763 - 157 4,364 143% Receivables 6,051 2,825 913 - 289 10,078 3,419 2,167 1,080 - 15 6,681 51% Inve
Slide 51: Disclaimer Contact Information
Disclaimer Contact Information Neither Semirara Mining & Power Corporation (SCC) nor its advisors make any Investor Relations Office representation regarding, and assumes no responsibility or liability for, the accuracy 3rd Floor Dacon Bldg. or completeness of, or any errors or omissions in any info
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