The information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation.

11 November 2024

EnSilica plc

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

Oriole Networks Selects EnSilica as ASIC Partner

and

Contract Award for Photonics Controller ASIC

EnSilica, a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has been selected by Oriole Networks Ltd ("Oriole"), a developer of artificial intelligence ("AI") optimisation technology, as its ASIC partner. EnSilica has also been awarded a contract for the design and supply of Oriole's Photonics Controller ASICs to be used in its optical network switch products (the "Contract").

Oriole is pioneering the use of optical switching to create the fastest and most energy efficient networks. This innovative approach is accelerating the next generation of machine learning in high-performance computers and data centres. The UK startup has raised $35 million in the past 12 months from investors including Plural, UCL Technology Fund, XTX Ventures, Clean Growth Fund, and Dorilton Ventures.

EnSilica was selected due to its relevant mixed signal design experience, proven intellectual property ("IP"), and a track record of bringing chips to volume production.

The Contract commences this month with material non-recurring engineering revenues, these revenues falling into EnSilica's current and next financial years, underpinning current consensus market expectations.

Ian Lankshear, Chief Executive Officer of EnSilica, commented:

"We are excited to be working with Oriole which has a compelling offering, allowing them to secure significant funding for their highly disruptive technology. The technology allows good re-use of EnSilica's existing IP, and the future supply potential for this ASIC is very exciting."

James Regan, Chief Executive Officer of Oriole, commented:

"We are pleased to partner with EnSilica, whose expertise in mixed signal ASIC design and proven track record in volume production align perfectly with our needs. Our optical switching technology is set to revolutionise high-performance computing and data centres by significantly reducing energy consumption and enhancing speed. This partnership of two UK companies will accelerate our mission to create the fastest and most energy-efficient networks, driving the next generation of machine learning applications."

For further information please contact:

The person responsible for arranging release of this announcement on behalf of the Company is Ian Lankshear, Chief Executive Officer.

About EnSilica

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 Bangalore, India and Porto Alegre, Brazil.

About Oriole Networks

Oriole Networks is pioneering the use of optical switching to create the fastest and most energy-efficient network. This innovative approach is accelerating the next generation of machine learning in high-performance computers and data centres. Founded in 2023 by UCL scientists, Oriole Networks leverages 20 years of optical networking and machine learning IP developed at University College London. The company has raised significant funding to support its mission of revolutionising high-performance computing and data centres.