21 September 2023

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

Delivery of prototypes for three ASIC projects

Sondrel (Holdings) plc (AIM: SND), the fabless semiconductor business providing turnkey services in the design and delivery of 'application specific integrated circuits' ("ASICs") and 'system on chips' ("SoCs") for leading global technology brands, is pleased to provide an update on three of its ASIC projects.

Separate from the Company's announcement on 31 August 2023, which notified delays in the anticipated chip development and production for next generation new engagements for three major ASIC customers, the Company is pleased to provide an update on three existing contracted ASIC projects in progress (the "Projects").

The Projects relate to an edge AI ASIC, a home network ASIC, and a controller ASIC for smartphone cameras and the Company previously announced the successful tapeouts of each of these ASIC design Projects in January 2023, March 2023 and May 2023 respectively.

Prototypes of the silicon for each of the Projects have now been delivered to the customers in line with the Group's roadmap to production and are now progressing through validation and qualification. The Projects all remain on schedule for the release to production.

Graham Curren, Chief Executive Officer of Sondrel, commented:

"The delivery of the prototypes for these Projects demonstrates our ongoing work with customers as each device moves towards production, and to generating recurring production revenues after the initial design revenue. 

As previously announced, the combined customer production volume forecasts for these ASIC projects alone now totals US$170m and gives us confidence in our medium-term ambition to reach over £100m in revenue. We look forward to updating investors as we make continued progress in the months ahead."

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About Sondrel

Sondrel is a UK-based fabless semiconductor company specialising in high end, complex digital Application Specific Integrated Circuits (ASICs) and System on Chips (SOCs). It provides a full turnkey service in the design, prototyping, testing, packaging and production of ASICs and SoCs.

The Company is one of only a few companies capable of designing and supplying the higher-spec chips built on the most advanced semiconductor technologies, selling into a range of hyper growth end markets such as high-performance computing, automotive, artificial intelligence, VR/AR, video analytics, image processing, mobile networking and data centres.  Sondrel designs have enabled products by leading technology brands including Apple (iPhone), Sony (PlayStation), Meta's (Oculus), Samsung, Google and Sony smartphones, JVC (prosumer camcorders), Tesla and Mercedes-Benz cars.

Sondrel is well-established, with a 20-year track record of successful delivery, supported by long standing ecosystem partnerships including Arm, TSMC and Samsung. Headquartered in the UK, Sondrel has a global presence with offices in UK, USA, China, India and Morocco.

For more information please visit: www.ir.sondrel.com.