MANILA, Philippines, August 10, 2023 – The Philippines’ only pure-play high-speed fixed broadband operator, Converge Information and Communications Technology Solutions, Inc. (PSE: CNVRG) (“Converge” or the “Company”) ended the first half of 2023 with a total of 1,969,663 subscribers. This is comprised of 1,915,502 postpaid subscribers and 54,161 prepaid subscribers. Net additional subscribers reached 92,302 in the first half. Surf2Sawa prepaid subscribers grew to almost double its subscriber base since March 2023.

The Company’s free cash flows to firm (FCFF)1 remains positive at P2,866 million. This 2023 is the first year that Converge expects to be full-year FCFF positive given the stable growth in operating cash flows with the lower capital expenditures for the year.

With the deepening of its presence in new areas, particularly in North Luzon, Visayas, and Mindanao, and its introduction of new products catering to low income households which comprised the broader segment of the market as well as the innovative solutions for enterprises, especially for small and medium enterprises (SMEs), the Company continued to see various potential for subscriber growth in the coming quarters and years as it is well-positioned to connect more underserved and unserved customers given its extensive infrastructure and innovative packages.