TOWER SEMICONDUCTOR LTD

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or to Semtech's future financial performance, including statements regarding the anticipated benefits of the expanded agreement with Tower, the expected expansion, timing and availability of dedicated SiGe manufacturing capacity, anticipated demand for Semtech's products and growth in AI data center interconnect markets, Semtech's design win pipeline, and the companies’ technology roadmaps, which reflect the current analysis of existing information. Statements containing words such as “believe,” “will,” “expect,” “anticipate,” “intend,” “see,” “designed,” or “positioned,” or other similar expressions constitute forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause Semtech's actual results, performance, and achievements to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to: Tower's ability to install equipment and expand SiGe manufacturing capacity at its fabs on the anticipated timeline, or at all, including as a result of circumstances outside of Tower's control; the risk that demand for Semtech's SiGe-based products does not develop as anticipated or that Semtech does not fully utilize the capacity reserved for it under the agreement; the risk that Semtech's design wins do not result in production orders or revenue at the levels or on the timing anticipated; the pace of AI data center investment and the rate of adoption of next-generation interconnect speeds; Semtech's reliance on Tower for the manufacture of its SiGe-based products and the concentration of that manufacturing in a limited number of facilities, including in Israel; competitive pressures and pricing; supply chain constraints; the impact of adverse changes to general economic conditions, including economic slowdowns, inflation, interest rate changes, recessions, and the impact of tariffs or retaliatory tariffs; and the other factors and risks set forth in Semtech's filings with the U.S. Securities and Exchange Commission, including (i) the “Risk Factors” section of Semtech’s Annual Report on Form 10-K for the fiscal year ended January 25, 2026 and (ii) subsequent Quarterly Reports on Form 10-Q. The forward-looking statements and information contained herein speak only as of the date of this release. Semtech undertakes no obligation to update any forward-looking statements or information to reflect events or circumstances after the date of this press release, except as required by applicable law.

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