Added Capacity Will Support Ongoing Revenue Growth Opportunities

Clearfield, Inc. (NASDAQ: CLFD), the specialist in fiber management for communication service providers, today announced the broadening of its manufacturing capacity in Tijuana, Mexico. Having significantly added headcount during the last several years, the company has entered into a lease arrangement for a 319,000-square-foot manufacturing and warehouse center that is being built to its specifications and is scheduled to enter into production slightly after the start of calendar year 2022. This move is in support of the anticipated future demand of the business. The facility will augment our growing investments in U.S. production.

Through this space and future headcount additions, Clearfield is positioned to more than triple its manufacturing presence in Mexico. This expansion is a clear indication of the value the market is realizing from Clearfield’s line of fiber management and fiber connectivity solutions. The expansion assists in lowering Clearfield’s cost of product manufacturing while ensuring Clearfield continues to lead the industry in product availability and on-time deliveries.

The industry has recognized that fiber-fed broadband provides the best future-proofed means to eliminate the digital divide and enhance economic vitality.

"Our Mexican manufacturing facilities fully complement our ongoing operations at our U.S. headquarters,” said Cheri Beranek, Clearfield president and CEO. "In addition, we continue to enhance and strengthen our partnerships with contract manufacturing operations and component suppliers. As part of our value proposition to provide our service provider customers the best total cost of ownership solutions, this strategic investment in manufacturing capacity will position us to build upon our growing momentum throughout the broadband marketplace.”

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures and distributes fiber optic management, protection and delivery products for communications networks. Our “fiber to anywhere” platform serves the unique requirements of leading incumbent local exchange carriers (traditional carriers), competitive local exchange carriers (alternative carriers), and MSO/cable TV companies, while also catering to the broadband needs of the utility/municipality, enterprise, data center and military markets. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

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