HONG KONG SAR - Media OutReach - 13 January 2023 - Cornerstone Technologies Holdings Limited (�the Group� or �Cornerstone Technologies�; Hong Kong stock code: 8391) is thrilled to announce that its first construction of EV charging-enabling infrastructure (�The Project�), under the EV-charging at Home Subsidy Scheme (�EHSS�), has been successfully completed.

The Project is located at The Regalia in Ho Man Tin, which is the first successful application under EHSS. Leverage our expertise in EV-charging solutions, Cornerstone Technologies was appointed as the contractor of the Project. Our team went through the whole project journey � from application for the EHSS, on-site survey and planning, consulting, EV-charging infrastructure design, construction and installation, power supply testing, through to acceptance inspections. 302 parking spaces with EV charging-enabling infrastructure have been equipped, with a coverage rate of 100%, making it the largest project of its kind in Hong Kong so far. Those parking spaces are �100% EV Ready� that can be installed with EV-chargers at anytime. Moreover, the Group will later provide suggestions and recommendations of EV-chargers to residents and further encourage them to become low-carbon drivers.

Mr Liang Zihao, Co-Chairman and Executive Director of Cornerstone Technologies, said, �The completion of the Project thanks to the recognition from Environmental Protection Department, the property management company and incorporated owners of The Regalia, as well as the close and effective communication between different stakeholders and Cornerstone Technologies. We have also received positive feedbacks from the partners, incorporated owners and residents. The completion of this Project not only marks an important milestone in Cornerstone Technologies's commitment to promoting sustainable development, but also demonstrates our capability to undertake large-scale projects.�

Dr Kenneth Leung Kai Ming, Principal Assistant Secretary (Air Policy) of Environment and Ecology Bureau, said �The Regalia is the first successful application and launched project in Hong Kong, various difficulties and challenges were encountered throughout the process. As a result of the rich experience of the contractor, the Project was successfully completed in a short period of time. This Project is currently the largest EHSS project, and its completion is an important step towards carbon neutrality of Hong Kong.�

WSP Hong Kong Limited acted as a design consultant in this Project. Mr Eddie Leung, Executive Director of WSP Hong Kong Limited, said, �Cornerstone Technologies receives high recognition in the industry. They fully demonstrated its outstanding professional and problem solving ability by negotiating with different parties, so that the Project is able to be completed in a short period of time.�

CEO of Cornerstone Technologies Mr Vincent Yip, Principal Assistant Secretary (Air Policy) of Environment and Ecology Bureau Dr Kenneth Leung, Legislative Council Member the Hon Frankie Yick, CLP Power eMobility Director Mr. Saraansh Dave, WSP Executive Director Mr. Eddie Leung yesterday (12 January) joined representatives of the owners� corporation and property management company at The Regalia for a completion ceremony for the newly installed EV charging facilities.

Mr Vincent Yip, CEO of Cornerstone Technologies added, �Another two EHSS projects are expected to be completed this year, and we will also commence to install EV-charging facilities for 33 parking spaces under Link in the near term.� Other than The Regalia in Ho Man Tin, Cornerstone Technologies was also appointed as contractor of the two private residentials, Visalia Garden in Mid-levels and Crown By The Sea in Tuen Mun, under EHSS. By then, there will be over a hundred parking spaces with EV charging-enabling facilities. It is believed that there will be more upcoming EHSS projects to be started in 2023. Cornerstone Technologies will continue to deploy its expertise to accelerate the installation and construction of EV-charging facilities, in order to make EV-charging accessible.

Hashtag: #CornerstoneTechnologies

The issuer is solely responsible for the content of this announcement.

About Cornerstone Technologies

Cornerstone Technologies (Stock Code: 8391) focuses on developing sustainable and environmentally friendly technology solutions. Cornerstone Technologies develops EV charging solutions with the latest technology together with convenient and thoughtful designs. Cornerstone Technologies is on the list of contractors and EV charging suppliers under �EV-charging at Home Subsidy Scheme�, and provides a one-to-one exclusive monthly fee plan for home charging. The Group is actively expanding its EV charging business into Southeast Asian countries, including Cambodia and Thailand, with an aim to create a cleaner and greener future. For more information, please visit www.cstl.com.hk.