1. Marc Barbers Ablan
TB 1101, The Grove, E. Rodriguez St., Brgy. Ugong, Pasig City, MM 1604
Email: marc.b.ablan@gmail.com / mablan@smg.sanmiguel.com.ph
Mobile: +63905 207 7161 / +63998 988 1695 Work tel: +632 702 4885
Work Experience: Project Development Consultant
San Miguel Holdings Corporation
Transaction & Financial Adviser
Managing Director, Ernst & Young Transaction Advisory Services, Inc.
Skills & Expertise: Infrastructure Development Adviser, M&A and Project Finance Coordinator,
BOT / PPP Expert, Project Developer for Power and Water Industries
Industry Specialty: Energy, Water. Utilities, Oil & Gas, Transport Infrastructure
Educational Background:
• Masters in Business Administration major in Corporate Finance, University of Dallas,
Graduate School of Management, 1989 USA
• Bachelor of Science in Business Management, Ateneo de Manila University, 1984 Philippines
Business Affiliations:
• Energy Council of the Philippines
• American Chamber of Commerce of the Philippines
• Makati Business Club
• Management Association of the Philippines
• Philippine Water Works Association
Employment Record:
• San Miguel Holdings Corporation (2012 – present)
• Ernst & Young Transaction Advisory Services, Inc.(July 2002 - Jan. 2011)
• Senior, Supervisor, Executive, Manager, Director at SGV &Co. (1990 - 2002)
• New York Marine Managers, Inc. (Reinsurance Firm 1989 – 1990)
• Commercial Bank of the Philippines (1985 - 1987)

2. Detailed Resume: Areas of Expertise and Experience Summary:
• Head of Mergers & Acquisitions and Project Finance practice of Ernest & Young (E&Y)
in the Philippines and designated as the Power & Utilities industry coordinator for all
E&Y offices in the ASEAN regional market.
• Provide general business development assistance, project identification and strategic
partner search, equity funders and creative financing structures, contractual negotiations,
and transaction implementation advice for clients in Energy & Utilities, Oil & Gas,
Water, and Transport sectors.
• Extensive knowledge to assist clients involved in Build-Operate-Transfer (BOT)
schemes, Public-Private-Partnership (PPP) arrangements, Privatization initiatives, M&A
opportunities, and Project Financing requirements (debt & equity).
• Highly experienced in providing financial advisory services like M&A transactions,
Project Finance deal structures, Strategic Partner Search, Business Planning and Financial
Feasibility Studies, Financial Due Diligence Reviews, Privatization initiatives.
• Assist clients formulate alternative investment structures, identify strategic joint venture
partners, source debt and equity funders, provide creative project financing concepts,
prepare financial projections, feasibility studies, & business plans, manages financial / tax
due diligence review process, assist in contract negotiations and documentation, monitor
project implementation and transaction integration requirements, facilitate post
registration requirements, such as permits, licenses, and necessary applications s with
government agencies to avail of incentives.
• Advised private sponsors identify appropriate investment opportunities and develop
strategies to participate in various infrastructure projects. Involved in evaluating
institutional framework and options for effective project execution by enhancing private
sector commercial and financial involvement in major infrastructure developments.
• Act as client’s transaction adviser in monitoring third-party consultants / contractors in
the delivery and conduct of services rendered to the project proponents.

3. Experience Summary: Infrastructure and Logistics Transactions
ECONOMIC RESEARCH INSTITUTE OF ASEAN AND EAST ASIA (ERIA)
Technical Assistance and Advisory
Awarded the bid to conduct a study on “Enhancing Institutional Framework for Public-Private
Partnership (PPP) in Infrastructure Development” funded by the Ministry of Economy, Trade and
Industry of Japan through ERIA. We have submitted our recommendations and the results of
our studies on areas of enhancing the PPP framework to current Administration. These have
been incorporated into the recent proposed developments in the governments PPP program.
Our study was composed of three main components, comprising an integrated approach for an
effective PPP reform agenda for attracting private sector investors.
The first component of the activity involves formulation of PPP institutional reforms consistent
with good governance principles to improve the Philippine PPP Framework. Establishment of
collaborative mechanisms and capacity development initiatives for the relevant PPP
stakeholders to present issues and concerns to formed our recommended reforms in enhancing
private sector participation in the PPP framework. The second component involved the selection
and structure of two PPP projects of government implementing agencies to prepare as model
for future PPP project for public tender. Analyzed the key components of the tender package for
the attraction of the private sector and benchmarked with international PPP tender preparation
and documentation. Streamlined and provided guidance in the government approval process
and recommended necessary support mechanisms required for identified priority projects. The
third component involved identifying the effective integration of the all identified industrial
corridors in Luzon in support of future locations for PPP projects. In general, the project study
was to improve the capacity of key Philippine PPP institutions in preparing, marketing,
supporting and monitoring of prospective PPP initiatives, the success of which will be seen
based on the attraction from the private sector investors to participate as partners of
government in its economic sustainability.
NEGROS NAVIGATION CORPORATION (Nenaco)
Financial Advisory
Mandated as Nenaco’s financial adviser in the acquisition of a public company in the logistics
industry to consolidate the maritime transport and logistics business into an integrated operation
and increase shareholder value from the benefits derived from identified synergies. As project
team leader, we coordinated the full range of services provided for the transaction – financial
advisory and structuring the deal, conduct of the due diligence process, arranged for possible
project financing (equity and debt), identifying potential equity funders and funders, reviewing
the financial projections, prepared marketing presentations and transaction documentation, and
provided transaction integration analysis. We brought the transaction to the market by
identifying potential equity funds and financial investors and identified several interested parties,
both local and foreign. Integral to the success of our mandate was the analysis presented to the
client in the post transaction integration work which identifies and quantifies the results of an
integrated operation and management of a logistics enterprise.

4. Build-Operate-Transfer (BOT) Schemes & Transaction Advisory Services
AMKOR ANAM TECHNOLOGY, INC.
General Financial Advisory
Provided general advisory services in connection with its plan to engage an Independent Power
Producer (“IPP”) to supply the Company’s power and chilled water requirements for their semi-
conductor manufacturing plant. The engagement started from the review of the proposed PPA
from the IPP for a dedicated 32 MW diesel fired power plant given the planned restructuring of
the power industry. Conducted an assessment of the power and chilled water requirements of
Amkor and presented alternative options to supply their needs at a more cost effective and
flexible approach. In addition, we also provided Amkor with a plan on how to negotiate and
implement other options that meets their primary objective of obtaining a reliable and quality
source of power at competitive rates given the restructuring of the power industry. We are
currently providing further assistance in the implementation of the recommended direct
connection to the grid as a result of the initial recommendations. We are also assisting in the
negotiation between Amkor and the IPP that plans to directly supply Amkor’s power
requirements and develop the connection to the main grid.
EAST ASIA POWER RESOURCES CORPORATION
Financial Advisory and Bidding Adviser
Assisted the consortium of lenders perform a financial and technical assessment of the viability
of East Asia’s restructuring proposal for three of its existing IPP contracts, namely: Duracom
Mobile Power Corporation, East Asia Diesel Power Corporation and Sunrise Power Corporation.
Our advise included assessing the borrower’s business viability, identifying alternative options to
improve its cashflow, and determining the impact of the de-regulation of the power industry to
the IPP’s operations. The engagement also included an assessment of the borrower’s financial
position and prospects, and required coordination with technical consultants and engineers for
an assessment of the borrower’s technical and operational viability.
PHILIPPINE SENATE (EPIRA)
Financial Adviser
Provided financial advisory and due diligence services, together with Credit Suisse First Boston,
to the Philippine Senate on the Omnibus Power Bill which calls for the restructuring of the
electricity sector and the privatization of the National Power Corp. We worked with the
Privatization office of the National Power Corporation, together with the Department of Energy in
assisting them in the Senate hearings conducted for the passage of the EPIRA by Congress.
We were tasked to quantify all the contractual liabilities of NPC in connection with its BOT
contracts with various independent power producers. The summary of these contracts were
used to validate the financial situation of NPC and to assess the possible options to consider in
the review of the contracts for negotiation These were the basis for developing a financial cash
flow model that quantified the extent and timing of NPC’s contractual liabilities. We further
conducted an anlysis of the long-term debt of NPC, including the review of the terms and
conditions of all their debt and assumptions that were used in the model for determining debt
repayment schedules and possible re-financing options.

5. CALIFORNIA ENERGY COMPANY
Financial and Transaction Advisory – retained
Provided project identification, development and implementation assistance to a US geothermal
power company in connection with its participation in the bid, award, and implementation of the
Leyte Geothermal Power Projects of the Philippine National Oil Company - Energy
Development Corporation (PNOC-EDC). Also assisted in the development of the Casecnan
Multi-Purpose Water and Power Project in Nueva Ecija, which was the first successful
unsolicited proposal under the BOT scheme. Assistance involved identification and referral of
the geothermal opportunities to CalEnergy and managed the over-all coordination with the
government agencies on the submission of a technical and financial bid package. Represented
the client in contract negotiations to arrive at an acceptable power purchase agreement that
incorporated the entire project financing concerns of all parties to the project. Assistance
continues in the implementation phase of the Project, particularly in the submission of reportorial
requirements for the BOI, BSP, and SEC as part of their registration process.
QUEZON POWER PROJECT
General Business Advisory
We provided general business advice and project development assistance for the consortium
among Bechtel Power Corporation, Ogden Corporation, Intergen, and Pacific Manufacturing
Resources in connection with the implementation of a 440 MW coal-fired power project for
Meralco in Mauban, Quezon. We assisted in the formulation of its investment structure and
registration with the Board of Investment (BOI) for availment of fiscal and financial incentives.
We also assisted the consortium in the registration of their foreign loans and equity contributions
of their foreign partners with the Central Bank for repatriation of its capital. We transitioned our
work to introduce our tax advisory and audit services for the consortium. This was a power
project that was successfully done on a purely private transaction which was financed by the
merits of its off-take arrangement with Meralco.
STATE INVESTMENT TRUST, INC. (SITI)
Financial Advisory
Assisted in the preparation of financial projections for which SITI participated and won in the
bidding of NPC’s 200-MW Coal Fired Power Plant Project in Mindanao. Our assistance covered
the registration requirements for the project to avail of pioneer status incentives with the BOI.
Our assistance also included the preparation of a detailed financial model to incorporate tax and
accounting concerns in connection with their preliminary discussions with potential foreign
strategic partners in the project. After winning the bid, continued assistance in recommending
strategies for capital restructuring, financing requirements, and assisting in the re-negotiations
with NPC on the effectivity of their power purchase agreement.
Furthermore, we were retained by the project proponent in identifying potential strategic and
technical partner for the implementation of the power project. Prepared the selling
documentation and introduced several large power companies for their consideration and
negotiated the terms and conditions of the shareholders agreement. The entry of STEAG as its
strategic partner was facilitated by our introduction and eventually entered into a joint
development agreement.

6. TRANSCANADA PIPELINES (Ilijan Natural Gas Project bidding)
Financial & Bidding Advisory
Provided project development assistance to a Canadian-led consortium in connection with the
bidding of the 1,200-MW Natural Gas-fired Power Project in Ilijan, Batangas of NPC. Our
assistance included the coordination and representation of our client with NPC on the
submission of a comprehensive technical and financial bid package incorporating the general
business and tax issues to establish a competitive price. Other work involved updating recent
developmental trends relating to the birth and eventual growth of the natural gas industry in the
Philippines, which is of primary interest to the client.
INTERNATIONAL WATER LIMITED (Manila Water technical partner)
Business Advisory
Provided financial and business advisory services to a consortium led by IWL in relation to its
plan to provide bulk water supply for the Metro Cebu Water District (MCWD). The project entails
the construction and operation of an inflatable rubber dam in a river from Carmen, Cebu to be
piped into a water treatment plant for delivery to MCWD. Our assistance covers overall
transaction facilitation including project development and monitoring services, advice on
applicable investment incentive laws. Prepared and submitted the registration of the project with
various agencies and compiled the unsolicited bid to MCWD and LWUA for implementation
under the BOT scheme.
SOUTH AUSTRALIA WATER CORPORATION
General Business Advisory
We provided a comprehensive review of its entry strategy in the Philippine water industry
through an assessment of the proposed privatization of the water distribution of MWSS.
Assistance included an overview of the market opportunities for their participation as well as an
in-depth assessment of all the pertinent information required in doing business in the Philippines
by a foreign government corporation from Adelaide, South Australia. Our assistance covered an
analysis of the appropriate investment strategy, identification of specific water projects in the
pipeline looking for strategic partners, recommended action steps or options to establish its
presence in the country. Further assisted the client in introducing key officials of various
government agencies and presented their credentials and expertise in the water business.
Transaction Advisory Services: Infrastructure & Other Utilities
FIRST ASIA TRANSIT PARTNERS LTD./ FUTREX
Financial Advisory
Providing ongoing financial advisory services to First Asia in connection with its interest to
pursue rail transport projects in the Philippines using a new rail system technology. We assisted
in general business development advisory and established good working relationships with
relevant government agencies in pursuing their project. The initial project involved project
identification in the transport sector, specifically rail projects. We further assisted in the
implementation of a project structure that would lead to a potential partnership between the

7. government implementing agency and First Asia. As such, we assisted in establishing an MOU
with MIAA and First Asia for the construction and operation of a monorail system to interconnect
the 3 terminals in NAIA. We are providing continuing assistance in securing the necessary
government approvals for the eventual implementation of the project.
SUBIC BAY METROPOLITAN AUTHORITY / WORLD BANK
Technical Assistance and Financial Advisory
Provided consulting assistance under a World Bank loan to SBMA regarding the review of its
privatization options for all its infrastructure services, in particular headed the team in the
analysis of the power and water sectors. Our assistance covered the re-negotiation of its
existing power supply contract with the Bay Power Group and provided alternative options for
sourcing the power requirements for its locators within the Freeport Zone. We also identified
other areas for further privatization or potential outsourcing contracts to private service providers
like the water sector, power distribution, real estate, telecommunication, tourism, airport
services, and port facilities. We identified priority transactions for privatization and evaluated
specific methodologies to be used and presented these recommendations for appropriate
implementation. We analyzed the pros and cons for each sector to be privatized, including the
impact on employment, costs and benefits involved, and the expected financial returns. We also
assisted in the creation of a Privatization and Commercialization Office (PCO) responsible for
preparing and implementing certain identified priority transactions for privatization. Part of our
task was to develop a financial model that would demonstrate the costs and benefits of specific
transactions aside from an 18-month action plan that would outline the privatization program.
GULF-OIL INTERNATIONAL
General Business Advisory and Market Study
Assisted in identifying a strategic local partner to establish a joint venture company, which was
to promote its entry strategy in the oil lubricants business in the country. We assisted in the
selection and negotiation process of prospective local partners to engage in the development of
a blending facility as well as in the distribution of its oil lubricant products nationwide. We
developed and updated their proposed business plan to incorporate specific strategies in
penetrating the different industries as target markets the Philippine lubricants business. A
commercial feasibility study was prepared as the basis for their proposed entry to the country.
MINDANAO OIL REFINERY PROJECT / DEPARTMENT OF ENERGY
Project Development Assistance
We were engaged by the Department of Energy and funded by a private firm interested in
entering the oil industry business due to its large real estate holdings nationwide. Assistance
included the refinement of a project feasibility study for the development of a 250,000 barrels
per day oil refinery in Mindanao to cover the Southern region’s fuel oil requirements as well as
to trade its surplus capacity in the international markets. We coordinated several meetings to
develop the consortium’s project concept and action plan in conjunction with the Philippine
government officials and the Iranian Embassy representatives. This was in preparation for the
visit to Iran. Planned a trip of a Philippine delegation endorsed by the government to the Islamic
Republic of Iran to present the proposed refinery project and invite them as a strategic partner
to invest in the consortium as the crude supplier for the project.

8. BRITISH AEROSPACE SYSTEMS / SAAB AB
Bid Preparation Assistance
Provided general business advisory services in connection with its intention to participate in the
Armed Forces of the Philippine’s (AFP) Modernization Program. In particular, our assistance
covered the preparation and review of its bid to present the Gripen aircraft for the Philippine Air
Force’s (PAF) purchase of multi-role jet fighters for front-line defense in the country. We were
sent to participate in the bid preparation that was conducted in-house at their military facilities in
the UK under a team of experts, where we led the development of an attractive counter-trade
package for the Philippine government’s consideration. We specified projects promotion for the
direct benefit of the AFP modernization program as well as other investment priority projects of
the government.
ADTRANZ RAIL SYSTEMS/ FM CONSULTING CO., LTD.
Business Advisory and Bid Assistance
Provided general business advisory assistance in presenting Adtranz’ qualifications and
credentials to the Department of Transportation and Communication (DOTC) for its interest to
pursue the LRT-2 rail project, which was for public tender. We further assisted in identifying
other potential rail projects for their possible participation and introduced interested groups who
would be willing to enter into a consortium. We conducted an analysis of the different options in
pursuing BOT projects and to determine their specific role with a consortium that participates in
a tender process. We introduced the key representatives of government and presented the key
agencies that are involved in developing the various rail projects in the country.