Nickel Asia issues clarification
Good day! We are writing in reference to an article published by The STAR titled “Nickel Asia faces P7 million penalty as Mindoro geothermal deal ends.” Link to article published on Oct. 17, 2025 (12:00 a.m.): https://www.philstar.com/business/2025/10/17/2480334/nickel-asia-faces-p7-million-penalty-mindoro- geothermal-deal-ends.
The article states that the $120,000 mentioned in our recent disclosure is a penalty. We wish to clarify that based on our Securities and Exchange Commission disclosure dated Oct. 15, 2025 (SEC Form 17- C), this amount refers to a financial obligation for training assistance that Nickel Asia Corp. would have paid regardless of whether or not the contract proceeded.
Accordingly, the amount is not a penalty arising from the termination of the agreement.
In light of this, we respectfully request that The STAR issue an erratum to correct the said information to ensure accuracy and prevent any misunderstanding.
Best regards,
Darien Mitchell C. Bas
Media Relations Specialist
Nickel Asia Corp.
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