BIG SMILE FISHING CORPORATION

Mayor Agan Avenue, Zamboanga City

October 17, 2022

THE REGIONAL DIRECTOR

DEPARTMENT OF LABOR AND EMPLOYMENT
Region IX, Zamboanga City

Dear Sir;

Since the start of the COVID19 Pandemic BIG SMILE FISHING CORRPORATION has
experienced financial difficulties due to the limited Fishing grounds available to us
and the spiraling increase of DIESEL FUEL. We have explored many options and
dealt with Local Government Officials of the adjacent Municipalities for available
fishing grounds, unfortunately our efforts have been unsuccessful.

During the commencement of the UKRAINE-RUSSIA Conflict, the cost of the Diesel
Fuel have significantly increased and has become unbearable for company up to
the present. After reviewing our options, we find that we must decide to
temporarily cease our operations as a stop gap measure minimize our financial
loss.

For this reason, we regret to give official notice to your good office that BIG SMILE
FISHING CORPORATION will cease its fishing operations effective November 1,
2022 until the termination of the Fishing Ban on March 2023. This option will
certainly affect 195 employees more or less

Your consideration on this matter is highly appreciated.

Truly yours,

JEFERSON L. YAP
President