IQE Regulatory News (IQE)

IQE plc

Cardiff, UK

10 May 2022

Reach

IQE announces strategic partnership with Porotech

· IQE enters into the microLED market

· Commercialisation of unique microLEDs for production at scale

· Broad range of applications including wearable devices and smart displays

IQE plc (AIM: IQE, "IQE" or the "Group"), the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry, is pleased to announce a strategic partnership with Porotech, a pioneer in microLED and GaN-based semiconductor technology.

The focus of the partnership is to develop, scale and commercialise Porotech's unique wafer technology that achieves all three colours (RGB) on a single 200 or 300mm GaN-based wafer for ultra-high-density and efficient microLEDs, the applications for which include AR/MR/VR, wearable devices, smart displays and large-scale direct view displays.

The intention is for IQE to be Porotech's epitaxial wafer foundry partner, providing GaN MOCVD capacity for the volume production of Porotech's PoroGaN® microdisplay technology platforms. Together, the companies will develop and productionise 200mm manufacturing platforms as well as 300mm wafer formats.

Americo Lemos, Chief Executive Officer of IQE, commented:

"This partnership marks IQE's entrance into the microLED market with a unique platform. As we stated in March 2022, we believe the microLED market presents a significant opportunity for our business. IQE's proven heritage in GaN epitaxy and our industry-leading footprint in high volume wafer manufacturing combined with Porotech's PoroGaN® microdisplay technology platform, will create a compelling and differentiated product offering.''

Porotech, Chief Executive Officer and co-founder Dr Tongtong Zhu, added:

"IQE's deep heritage and innovation in MOCVD epitaxial growth technologies, as well as its mass production capability, are optimised for very small high-brightness microLED pixels that match perfectly with Porotech's platform. We look forward to working together to commercialise this solution."

Contacts:

IQE plc

+44 (0) 29 2083 9400

Americo Lemos

Tim Pullen

Amy Barlow

Peel Hunt LLP (Nomad and Joint Broker)

+44 (0) 20 7418 8900

Edward Knight

Paul Gillam

James Smith

Citigroup Global Markets Limited (Joint Broker)

+44 (0) 20 7986 4000

Christopher Wren

Peter Catterall

Headland Consultancy (Financial PR) + 44 (0) 20 38054822

Andy Rivett-Carnac: +44 (0) 7968 997 365

Marta Parry-Jones: +44 (0) 7884 742 400

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:

· handset devices

· global telecoms infrastructure

· connected devices

· 3D sensing

As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the whole market and is agnostic to the winners and losers 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 c. 685 employees across nine manufacturing locations in the UK, US, Taiwan and Singapore, and is listed on the AIM Stock Exchange in London.

ABOUT POROTECH

Porotech is a micro-LED pioneer and global gallium nitride (GaN) material technology developer, headquartered in Cambridge (UK), with offices in Hsinchu (Taiwan) and Chandler, Arizona (USA). Focused on next-generation display applications, Porotech's game-changing PoroGaN® technology platform enables ultra-small and efficient micro-LED chips which can emit all colours of the visible spectrum with a single GaN material system. For more information, visit: www.porotech.com