28 November 2024

EnSilica plc

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

AGM Statement

The Board of EnSilica, a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is holding its Annual General Meeting ("AGM") at 10.00 a.m. today. At the meeting, Mark Hodgkins, Chair, will make the following statement:

"I am delighted to report that EnSilica has continued to generate strong new contract momentum during the first half of the current financial year ("HY 2025"), developing a significant pipeline of opportunities with businesses operating across our key markets, including industrial and automotive. Our sales pipeline is now projected to be worth an estimated US$450 million of lifetime revenues, in addition to estimated recurring supply revenues from design contracts already closed of US$224 million over the customer forecast lifetime of the supply. Together, these forecasts underpin management's confidence in the Group's near-to-medium term prospects. The Board therefore expects EnSilica to continue to trade in line with consensus market expectations for the financial year to 30 May 2025.

As evidenced by the volume of contract wins secured in HY 2025, we are attracting strong interest for our services from a wide range of domestic and international corporations. Pleasingly, the Group has made considerable progress in marketing its ASICs supply capabilities, an important objective for EnSilica as we focus on expanding our customer portfolio in our focus markets. Supply wins continued to further diversify the Group's revenue streams and will contribute towards our growing recurring revenues pipeline.

EnSilica is actively exploring new supply, non-recurring engineering and consultancy opportunities to further strengthen the business and we remain committed to investing in our growing intellectual property platforms to increase our competitiveness and enable the Company to deliver higher gross margins.

Supported by EnSilica's sizeable order book and current new business pipeline, management's near-to-medium term outlook on the Company's growth potential remains positive. As demand for trusted and resilient semiconductor supply chains increases worldwide, EnSilica is well-placed to enhance its reputation as a premier European chipmaker with a global reach."

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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.