IQE plc

Reach

Cardiff, UK

9 January 2025

IQE announces SBTi approval of emission reduction targets

·      Approved targets in alignment with the Science Based Targets initiative

·      IQE on path to achieve Net Zero across operations by 2050

IQE plc (AIM:  IQE, "IQE" or the "Group"), the leading global supplier of compound semiconductor wafer products and advanced material solutions, is pleased to announce the Science Based Targets initiative ("SBTi") has approved IQE's near and long-term science-based emissions reduction targets.

The SBTi defines and promotes best practice in emissions reductions and Net Zero targets in line with climate science. In June 2022 IQE announced its SBTi participation and a formal commitment to achieving Net Zero across its operations by 2050.

As part of this process, IQE was required to formulate science-based targets to reduce greenhouse gas emissions in line with the SBTi Net Zero Standard, which seeks to limit global warming to 1.5°C. The SBTi's Target Validation Team has classified IQE's near and long-term targets as in line with this ambition and has also verified IQE's mitigation pathways for reaching Net Zero by 2050 or sooner.

Jutta Meier, Interim Chief Executive Officer of IQE, commented:

"I am proud IQE's Net Zero targets have been validated by the SBTi. We have achieved the most ambitious designation available through the SBTi process, in recognition of the importance of achieving rapid and deep global greenhouse emissions cuts."

Contacts:

IQE plc

+44 (0) 29 2083 9400

Mark Cubitt

Jutta Meier

Amy Barlow

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 manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.