IPS, Inc.

IPS, Inc. is a Tokyo based Tokyo Stock Exchange-listed (TSE: 4390) telecommunications company with subsidiaries in Japan, the Philippines and Singapore where we are fully licensed to develop and operate telecom infrastructures. InfiniVAN, a Philippine affiliate of IPS, Inc., is one of the joint-build partners constructing the Philippine Domestic Submarine Cable Network (PDSCN). The other two partners are Eastern Telecommunications and Globe Telecom. The PDSCN consists of 24 unrepeatered segments and has a total length of approximately 2,500kms -- the longest and newest domestic subsea cable system in the Philippines, connecting provinces in the Luzon, Visayas and Mindanao island groups. The roughly $150 million system is designed to have triple redundant routes in majority of the coverage areas in order to ensure network reliability and resiliency in a natural disaster-prone country. The PDSCN is envisioned to be fully operational in April 2023. A portion called the "Express Route", which extends from the province of Quezon to the province of Cebu, has already been completed as of October 2022 and will be ready for service by the beginning of 2023. The PDSCN is expected to enhance the digitalization of the Philippines and lessen the digital divide in the country. With its own-built domestic terrestrial fiber optic network infrastructure as well as diverse IRU ownerships in multiple international submarine cable systems, infiniVAN has been at the forefront of increasing the ability of the country's dispersed service areas to be connected to the internet. It is the largest supplier of bulk internet bandwidth to the largest ISPs all over the country and boasts of 20+ Tbps of lit upstream capacity to the internet backbone. In the next 3 years, we are eyeing a significant regional expansion in Japan, the Philippines and international subsea areas.