Press Release - May 12, 2020

Cirtek Holdings Philippines Corp., through its wholly owned subsidiary, Quintel USA, Inc. is delighted to formally announce the launch of a new generation of antennas designed for the US national rollout of 5G services. “For years, growing communications and inter-connectivity demands have burdened telco operators. There are three primary ways of adding capacity to a network. First is acquiring new spectrum. Second is using spectrum more efficiently and third is densifying the network. Spectrum is a scarce and costly resource which is left between carriers and regulators. From an equipment maker’s perspective, large innovations can be achieved in terms of spectrum efficiency and densification in pushing the network envelope through specialized techniques and these are what Quintel’s new product are all about according to Quintel’s President, Mr. Michael Liu. Quintel is proud to announce that it has achieved a pioneering status with regards to its 12-Port Dual Diplexed Antennas that deliver a compelling feature of simultaneous independent tilt at 700MHz and 850MHz bands. The independent tilt feature allows managing spectrum license boundary areas in between adjacent cells, state borders or carriers. In doing so, it allows network operators strict coverage cut offs translating to efficient radio network and spectrum planning. The precise but dynamic coverage cut off promotes better frequency reuse that leads to network densification, a key enabler for 5G. Quintel’s Dual Diplexed Antennas are also available in 8-Port with sizes of 6 feet and 8 feet lengths respectively to accommodate rural, urban and suburban deployments. Another differentiating feature offered in the new product line up improves coverage when antennas are deployed on rooftops that are set back from the rooftop edge. This feature uses an industry-first patented “Top-Heavy” power distribution ensuring that more RF energy is projected over the rooftop edge than with conventional antennas burden by shadowing leading to poor coverage and dead spots. Quintel’s Rooftop-Optimized Antennas promise up to 3dB gains on the ground thereby doubling signal levels, speed and coverage. These are designed for urban city deployments in mind demanding high network traffic, high performance, challenging deployments and concealed installations to preserve building façade and city aesthetics. According to Cirtek’s Vice President, Mr. Tony Callueng, “Cirtek’s manufacturing capacity is currently running at 60% amidst the pandemic. It is expected to run up to 70% capacity by the time the Philippine lockdown is lifted to comply with COVID-19 preventive measures until such time a vaccine is available or herd immunity is achieved.” To answer for increasing orders yet maintain social distancing within the facility, it outsources to contract manufacturers in China that has fully emerged from the lockdown last March after having been hit by the pandemic that first appeared in December 2019, a few months earlier prior finding its way to Philippine shores. As part of Cirtek’s business continuity and expansion plans, it is in talks with an additional contract manufacturing partner in China as well as qualifying a new Taiwan facility in response to supply chain diversification and business resiliency plans moving forward. To date, Cirtek, Quintel and its global offices and R&D facilities remain COVID-19 free while in full operation as part of essential industries. CIRTEK HOLDINGS Philippines Corporation

Cirtek Holdings Philippines Corporation (CHPC), through its subsidiaries, is collectively engaged in semiconductor assembly and testing operations under Cirtek Electronics Corporation (CEC) to produce integrated circuits, sensors, microelectromechanical systems (MEMS) and active as well as passive chips used in modern electronic systems. Through Cirtek Advanced Technologies and Solutions, Inc. (CATSI), it produces value-added design, engineering, manufacturing, testing, tuning as well as supply chain solutions for highly integrated box build equipment with specialization in radio frequency, microwave and millimeter wave. In moving up the technology value chain, CHPC through Quintel USA, Inc. designs, develops and supplies cellular base station antennas for global leading telco carriers. CHPC was listed on the Philippine Stock Exchange in November 2011 and carries the ticker symbol “TECH". 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.