24 November 2022

EnSilica plc

("EnSilica", the "Company" or the "Group")

AGM Trading Update

EnSilica (AIM: ENSI), a leading chip maker of mixed signal ASICs ("Application Specific Integrated Circuits"), provides an update ahead of its Annual General Meeting ("AGM") scheduled to be held at 10.00 a.m. today.

At the AGM, Mark Hodgkins, Executive Chair of EnSilica, will make the following statement:

"In our first AGM statement as a public business, I am delighted to report that EnSilica traded strongly across the financial year ended 31 May 2022 ("FY 22"), buoyed by significant contract momentum in the period. This momentum has continued into the current financial year, and I am pleased to reaffirm that the Group expects to meet market expectations for the year ended 31 May 2023, which were upgraded immediately following the announcement of our FY22 results on 17 October 2022.

This creditable performance is underpinned by our focused business strategy and our track record of innovation and service excellence. This has culminated in contract momentum, including a significant contract win announced on 25 July with a leading European industrial OEM, all of which is supported by ongoing new business development.

To further capitalise on this market opportunity, the Group has continued to strengthen its sales and marketing efforts, appointing Peter Jeutter as our new Vice President of Worldwide Sales, and has agreed new sales partnerships with Quantum Leap Solutions, covering North America, and Cedar Technologies, covering the UK, Nordic regions, and Poland.

In addition, our executive team remains focused on both retaining and attracting talent, as well as expanding our operational base. Alongside hiring an ASIC implementation team, comprised of six skilled engineers, we have also opened our new Bristol facility, which the directors believe will provide a strong platform to further attract talent in the area.

The board is mindful of the broader macro-economic climate, however, given the Group's sizeable order book and prospects pipeline, supported by a variety of blue-chip customers across the automotive, industrial, healthcare and satellite communications markets, the directors continue to believe the Company is well placed for further growth."

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Notes to editors

EnSilica is a leading fabless design house focused on custom ASIC design and supply for OEMs and system houses, as well as IC design services for companies with their own design teams. The company has world-class expertise in supplying custom RF, mmWave, mixed signal and digital ICs to its international customers in the automotive, industrial, healthcare and communications markets. The company also offers a broad portfolio of core IP covering cryptography, radar and communications systems. EnSilica has a track record in delivering high quality solutions to demanding industry standards. The company is headquartered near Oxford, UK and has design centres across the UK and in India and Brazil.