Progress Report

Semirara Mining and Power Corp (SCC)

a. Annual reports and quarterly reports (minimum of five years for the annual report and
quarterly reports for 2021 only).

Annual reports from years 2017-2020 and available quarterly reports for 2021 were
already downloaded from the SCC site.

b. Data about the members of the Board and top management

The complete list of the members of the board and top management can be found from
their site. Information regarding their education and current and past positions within
the group are included in the site. We have also found additional information from their
2020 annual reports which includes dates of appointment/reappointment (in case of re-
election). Key members of the board of directors consist of the Consunji siblings, led by
Isidro Consunji as the Chairman and CEO, and Cristina Gotianum as the COO and
President of SCC.

c. News articles and other data related to the company

d. Data gathered on macroeconomics and industry

We have started gathering data on the macroeconomics and industry related to the
company. Their GDP contribution can be found both at their annual reports and various
reports from regulating bodies such as Department of Energy. We have also started
looking into the impacts of the economic downturn due to Covid-19 to the company and
how their supply and demand was affected. Since it is the only vertically integrated coal
fired company and the largest producer of coal in the country, the only considerable
competitor in terms of coal would be their foreign competitors. We have learned that
Philippines still relies heavily on coal imports, mainly from Indonesia. Additionally, we
have considered government regulations and policies on the renewable energy mix and
how it affects the company in the future.