TTM Technologies, Inc. (NASDAQ:TTMI) ("TTM"), a leading global manufacturer of technology products, including mission systems, radio frequency ("RF") components, RF microwave/microelectronic assemblies, and technologically advanced interconnect products, including printed circuit boards ("PCBs") and substrates, announced today a $400 million investment plan to expand capacity across four key facilities in China and its strategic southeast Asia plant in Penang, Malaysia. This expansion initiative represents incremental investments to the previously disclosed commitment to invest $1.2 billion through the 2025-2029 timeframe and is buttressed by ongoing discussions with our long-standing customer partners indicating expected demand increases.

The planned investments are dedicated to supporting the surge in Artificial Intelligence ("AI") infrastructure demand, primarily scaling TTM’s advanced N+M asymmetrical, interconnect manufacturing technology products. This expansion underscores TTM’s commitment to its shareholders to capitalize on aggressive organic growth opportunities within the AI sector, with the goal of ensuring the company’s customers have access to both the critical capacity and innovative capabilities of TTM’s advanced interconnect technologies. To meet the urgent needs of data center infrastructure providers, hyperscalers, and networking customers, TTM is bypassing more time-consuming "greenfield" construction approaches in favor of its brownfield approach for strategic expansions. This "rapid ramp" approach entails optimizing existing operational space and integrating cutting-edge equipment to bring AI-specific PCB production capacity online very efficiently.