GREENERGY HOLDINGS INCORPORATED

(formerly MUSX Corporation)

54 National Road, Dampol II-A, Pulilan, Bulacan
Tel. No. (02) 997-5184

19 February 2021

PHILIPPINE STOCK EXCHANGE

Philippine Stock Exchange Plaza
28th Street corner 5th Avenue
Bonifacio Global City, Taguig City

Attention : MS. JANET A. ENCARNACION

Head, Disclosure Department

MS. ALEXANDRA TOM WONG

Analyst, Disclosure Department

Subject : Clarification on the News Report

“Aleta Planet, Greenergy eye tie up”

Gentlemen:

We write in response to your correspondence dated 19 February 2021 requesting

Greenergy Holdings Incorporated (the “Company”) to provide clarification and/or
confirmation on the news article entitled “Aleta Planet, Greenergy eye tie up” posted on
the BusinessMirror (Online Edition) on 19 February 2021, which reads in part:

“Greenergy Holdings Inc., the listed company led by

businessman Antonio L. Tiu, on Thursday said
Singapore-based Aleta Planet is eyeing a partnership
with the company for the issuance of virtual cards as well
as cross-border money remittance services.

Under the proposed collaboration, Aleta Planet, a

member of UnionPay International, will provide its
proprietary technology solution to issue co-branded
virtual UnionPay cards to individual clients through
Greenergy and its affiliates. This will enable ease of
payment collection and a fully digital cross-border
money remittance service to UnionPay accounts.
Greenergy, in turn, shall promote the use of virtual
accounts and cross border remittance services to the
customers and clients of its subsidiaries and affiliates.
 ‘Fintech is among Tiu’s overall goals for his business
which aims to help Filipino consumers attain financial
inclusion, especially the unbanked and underbanked, to
have easier access to the financial system,’ the company
said. The deal would pave the way for Greenergy’s
development of a fintech arm by providing fully digital
cross-border money remittance services, consistent with
the businessman’s vision of creating a seamless e-
commerce landscape using financial technology for
Filipinos especially agriculture stakeholders.

Other services under the planned partnership will

include payment acceptance, domestic and cross-border
business-to-business money transfers, e-commerce and
white-labeling for financial institutions and corporations
and co-branding programs to co-brand partners in
relation to the financial technology services it provides.

. . . .”

We confirm that the Company is in the advanced stage of negotiation with Aleta Planet
Pte Ltd for their proposed collaboration which includes the issuance of co-branded virtual
accounts, cross border money remittance services, and other product offerings. The
Company will inform the Exchange and the investing public when the Definitive
Agreements are reached in relation thereto.

We trust that you will find the foregoing in order.

Very truly yours,

SARAH JEANE P. CARDONA

Corporate Information and Compliance Officer