Cirtek Holdings Philippines Corporation (“CHPC” or the “Company”), is pleased to announce
that the application for the registration in the Expansion Project and New Projects of its two
business units namely CIRTEK ELECTRONICS CORPORATION (CEC) and CIRTEK
ADVANCED TECHNOLOGIES AND SOLUTIONS, INC. – PHILIPPINE BRANCH (CATSI) ,
were APPROVED by the Philippine Economic Zone Authority (PEZA) Board during its 29
September 2022 meeting. The Company received PEZA Certificate of Board Resolution on 05
October 2022 and 07 October 2022 respectively.
The approved application of its semiconductor arm segment, CIRTEK ELECTRONICS
CORPORATION (CEC) for the registration of its Expansion Project specifically for the
manufacture of Plastic and Ceramic Leadless Chip Carrier (LCC) Packages, is at 116 East Main
Avenue Phase V, SEZ, Laguna Technopark -Special Economic Zone (LT-SEZ), Biñan, Laguna.
CEC will start the commercial operations on or before January 2023.The said approved project
shall be entitled to three (3) years Income Tax Holiday (ITH) on incremental sales and the 5%
Special Corporate Income Tax (SCIT) for ten (10) years as provided for under the provisions of
RA No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act,
subject to CEC’s signing of a Supplemental Agreement with PEZA, under standard registration
terms and conditions and to the additional conditions as required by the Agency.
Meanwhile, CIRTEK ADVANCED TECHNOLOGIES AND SOLUTIONS, INC. – PHILIPPINE
BRANCH (CATSI), wireless, broad band business segment of CHPC approved the application
for the registration of its two (2) New Projects. The first approved New Project, engage in the
assembly of Quintel Multi-port Antennas for 5G application, at the Laguna Technopark – Special
Economic Zone. CATSI will start the commercial operations of the approved project on January

2023. The approved project shall be entitled to five (5) years Income Tax Holiday (ITH) and the
      5% Special Economic Income Tax (SCIT) for ten (10) years as provided for under the provisions
      of RA No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act,
      subject to CATSI’s signing of a Supplemental Agreement with PEZA, under standard registration
      terms and conditions and to the additional conditions as required by the Agency.
      On the other hand, the second approved New Project of CATSI is for the manufacture of Analog
      Device Inc.’s (ADI) RF Load Boards and other ADI products, at the Laguna Technopark – Special
      Economic Zone (LT-SEZ). CATSI will start the commercial operations of the approved project on
      April 2023. The said approved project shall be entitled to the incentives as provided for under the
      provisions of RA No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises
      (CREATE) Act, this is also subject to CATSI’s signing of a Supplemental Agreement with PEZA,
      under standard registration terms and conditions and to the additional conditions as required by
      the Agency.
      The new equipment and / facility will be part as an additional business engine incremental to both
      CEC and CATSI’s total operations. Likewise, this does not merely replace in any of CEC and
      CATSI’s existing facilities.
      CIRTEK HOLDINGS
      Philippines Corporation
      “The Company is very glad for the continuous support and assistance of PEZA. Now that our
      country is attaining herd immunity and re-opening its economy, the Company is very optimistic
      that it would hit a significant increase in its export revenues. The approval of these two (2) new
      projects and expansion project would culminate Cirtek Group’s continuing capability to open more
      business opportunities and to deliver relevant, complex, full turnkey solutions, and technological
      advancement of the company and its products for the benefit of our customers and most
      importantly for the benefit of our employees as this will allow Cirtek to create and maintain jobs
      for thousands of Filipino families despite the challenging times ahead of a global economic
      downturn where many companies are actually laying off and cutting back on spending,” Cirtek
      Group’s Management remarked.
      Forward Looking Statements
      This press release contains statements about future events and expectations that constitute
      “forward-looking statements.” These forward-looking statements include words or phrases such
      as the Company or its management “believes”, “expects”, “anticipates”, “intends”, “may”, “plans”,
      “foresees”, “targets”, “aims” “would”, “could” or other words or phrases of similar import. Similarly,
      statements that describe the Company’s objectives, plans or goals are also forward-looking
      statements.
      All such forward-looking statements are subject to known and unknown risks and uncertainties
      that could cause actual results to differ materially from those contemplated by the relevant
      forward-looking statement. Such forward-looking statements are made based on management’s
      current expectations or beliefs as well as assumptions made by, and information currently
      available to management. These forward-looking statements speak only as at the date of this
      press release and nothing contained in this press release is or should be relied upon as a promise
      or representation as to the future.