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

13 November 2023

Sondrel (Holdings) plc

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

Production Order

Maiden production order in respect of complete turnkey ASIC manufacturing project for Edge AI ASIC

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 report that, further to the announcement on 9 January 2023 of the tapeout of an ASIC design of a new, state-of-the-art, Edge AI accelerator chip for a leading provider of Edge AI Hardware Accelerator solutions, subsequent testing by the customer of the sample chip has now been successfully completed and Sondrel has now received its maiden production order for an ASIC chip.

This first production order, in respect of an initial production run and for a volume in line with existing market expectations of FY23E production revenues, is a significant endorsement of the Group's complete ASIC turnkey service offering that takes the chip from concept right through to shipping production silicon.

This Edge AI design will open up new markets for our customer with its flexible, efficient and affordable approach that allows customers to drive up performance in AI applications.

Graham Curren, Chief Executive Officer of Sondrel, commented:

"This is an important production order for Sondrel, which is a major validation of our business model of providing complete design and ASIC supply for our customers. This chip is a key project for our customer that will open up new markets for them in the rapidly growing Edge AI sector. Being one of only a few companies in Europe delivering AI chips in production, we are excited to be a leading supplier within this growing market.

"This complex design was completed in twelve months, once again demonstrating Sondrel's industry leading design capabilities. We look forward to supplying chips to our customer over the next few years.

"Achieving this milestone is a significant step as we scale our business through production revenue. We look forward to updating investors as we make continued progress in the months ahead."

Ends

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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: ir.sondrel.com.