29 April 2024

Sondrel (Holdings) plc

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

Successful Milestone Completion

Tapeout of turnkey ASIC engagement with a Tier 1 OEM Automotive customer

Sondrel (AIM: SND), a leading provider of ultra-complex chips for leading global technology brands, is pleased to announce that it has successfully completed the tapeout, the next key milestone, including the associated invoicing, in respect of the material turnkey ASIC engagement for a Tier 1 OEM Automotive customer (the "Project").

Tapeout signals the completion of the design phase of an ASIC and the handover of all data to the silicon foundry which is contracted to manufacture the ASIC. This tapeout data is used to initiate the generation of photomasks by the foundry, which are then used to produce prototype silicon wafers. These wafers are then packaged and tested before delivery to the customer for prototype assessment.

With the design phase of the Project now achieved and its tapeout completed, the Company will progress with the new product introduction and prototyping phases of the turnkey supply services being provided to the customer.

David Mitchard, Interim Chief Executive Officer of Sondrel, commented:

"The successful completion of this milestone demonstrates our commitment to our customer, and the close collaboration between the teams.

"Since the beginning of the year we have made good progress on this important ASIC project with the automotive Tier 1 supplier. I would like to thank Sondrel's employees, suppliers and customers for their continued support over recent months.

''Our focus on end markets that are aligned with strong and enduring global technology megatrends means that we have a good pipeline of design opportunities for 2024."

For further information:

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.