IQE plc

Cardiff, UK

29 November 2023

IQE Board appointments

Bami Bastani and Maria Marced join IQE

IQE plc (AIM:  IQE, "IQE" or the "Group"), the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry, is pleased to announce the appointment of Bamdad ("Bami") Bastani and Maria Marced, two veteran semiconductor industry leaders, to IQE's Board of Directors as independent Non-Executive Directors. Their appointments will be effective from 1 January 2024, at which time Sir Derek Jones KCB will step down from the Board.

Bami Bastani joins with a wealth of experience in the semiconductor industry, having spent seven years at GlobalFoundries, first as Senior VP and GM of the Mobile & Wireless Infrastructure Business Unit and then Senior VP and Senior Advisor to the CEO. Bami also spent seven years as a board member of the Global Semiconductor Alliance (GSA) and has held President and CEO roles at Meru Networks, Trident Microsystems and ANADIGICS.

Maria Marced is currently the President of Taiwan Semiconductor Manufacturing Company ("TSMC") Europe, a role she has held for over 16 years. Prior to that, Maria held Senior Vice President roles at NXP Semiconductors and spent 19 years as Vice President and EMEA General Manager at Intel Corp.

Sir Derek Jones KCB will step down as a Non-Executive Director on 1 January 2024, having joined the IQE Board in December 2017. Sir Derek has been an integral part of IQE's Board during his time.

Americo Lemos, CEO of IQE, commented:

"We are delighted to welcome both Bami and Maria to the Board of IQE. Together they bring decades of combined expertise in the global semiconductor industry. Their deep understanding of manufacturing excellence, technology leadership, and customer centricity, coupled with their strategic management of business operations, will be instrumental in our continued growth and success."

Phil Smith, Chairman of IQE, commented:

"We would like to thank Sir Derek for his six years of service to IQE and wish him all the best for the future. His advisory oversight, operational perspective and financial understanding have been hugely valuable to the company throughout his tenure, and he will be missed. We're also very pleased to welcome Bami and Maria who will no doubt complement the diversity of expertise and experience on the IQE Board."

INFORMATION REQUIRED UNDER RULE 17 AND SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES FOR COMPANIES ("AIM RULES")

Contacts:

IQE plc

+44 (0) 29 2083 9400

Americo Lemos

Neil Rummings

Amy Barlow

Peel Hunt (Nomad and Joint Broker)

+44 (0) 20 7418 8900

Paul Gillam

Richard Chambers

Kate Bannatyne

James Smith

Numis (Joint Broker)

+44 (0) 20 7260 1000

Simon Willis

Hugo Rubinstein

Iqra Amin

Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822

Andy Rivett-Carnac: +44 (0) 7968 997 365

Chloe Francklin: +44 (0)78 3497 4624

ABOUT IQE

http://iqep.com

IQE is the leading global supplier of advanced compound semiconductor wafers and materials solutions that enable a diverse range of applications across:

·    Smart Connected Devices

·    Communications Infrastructure

·    Automotive and Industrial

·    Aerospace and Security

As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the global market and is enabling customers to innovate at chip and OEM level. By leveraging the Group's intellectual property portfolio including know-how and patents, it produces epitaxy wafers of superior quality, yield and unit economics.

IQE is headquartered in Cardiff UK, with employees across eight manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.