L.P. Lim City Family Farm, Inc.

April 27, 2021 CERTIFICATE OF TAX EXEMPTION NO. BOI-OP-146-21 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that L.P. LIM CITY FAMILY FARM, INC. , with Taxpayer Identification Number (TIN) 000-000-000-000, is exempt from income tax and creditable withholding tax on its income received directly in connection with its registered project, New Producer of Broiler Eggs Integrated with Growing of Parent Stock , located at Barangay Aguinaldo, Ramon, Isabela, a project duly registered with the Board of Investments (BOI) under Certificate of Registration No. 2020-090 dated June 29, 2020, for a period of four (4) years beginning from June 30, 2020 to June 29, 2024 , pursuant to Executive Order (EO) No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5 (B) (2) of Revenue Regulations (RR) No. 2-98, as amended. Moreover, the sale by the Company of agricultural food products in their original state, livestock and poultry of a kind generally used as, or yielding or producing foods for human consumption and breeding stock and genetic material, is exempt from value-added tax (VAT) pursuant to Section 109 (1) (A) of the National Internal Revenue Code of 1997 (Tax Code), as amended. The grant of tax exemption herein is subject to the compliance with the provisions of applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for all other applicable taxes not discussed above. This Certificate of Tax Exemption is being issued on the basis of the facts and documents as represented and submitted. However, if upon investigation, the BIR ascertains that the facts are different, then this Certificate shall be considered null and void. Issued this 27th day of April, 2021. HSAcaE (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue ATTACHMENT TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION 1. The exemption from income and creditable withholding taxes covers only income directly attributable to the revenues generated from the project, New Producer of Broiler Eggs Integrated with Growing of Parent Stock , located at Barangay Aguinaldo, Ramon, Isabela. 2. The Company's entitlement to ITH for its BOI-registered housing project is subject to the compliance with the provisions of the Specific Terms and Conditions of its BOI Registration. 3. Pursuant to Section 4 of Republic Act (RA) No.10708, 1 the Company is required to file its tax returns and pay its tax liabilities, on or before the deadline as provided under the TaxCode, as amended, using the electronic system for filing and payment of taxes of the BIR. It shall file with BOI a complete annual tax incentives report of its income-based tax incentives, VAT and duty exemptions, deductions, credits or exclusions from the tax base, as may be provided under EO No.226, within the periods prescribed under RA No.10708's Implementing Rules and Regulations and Joint Memorandum Circular No.1-2016 dated September 1, 2016. 4. The Company shall be constituted as a withholding agent for the government if it acts as employer and any of its employees receive compensation income subject to compensation withholding tax, or if it makes payments to individuals or corporations subject to the withholding taxes at source as required under Chapter XIII and Section 57 of the TaxCode, as amended, and implemented by RR No.2-98, as amended. 5. The Company is required to file on or before the 15th day of the fourth month following the close of its accounting period a Profit and Loss Statement and Balance Sheet with the Annual Information Return under oath, stating its gross income and expenses incurred during the taxable year. 6. Finally, the Company's books of accounts and other pertinent records shall be subject to periodic examination by revenue enforcement officers of this Bureau for the purpose of ascertaining whether it is complying with the conditions under which it has been granted tax exemption or tax incentives and its tax liability, if any, pursuant to Section 235 of the TaxCode, as amended. Footnotes 1. An Act Enhancing Transparency in the Management and Accounting of Tax Incentives Administered by Investment Promotion Agencies.