Semtech Corporation (NASDAQ:SMTC), a leading provider of high-performance semiconductor, Internet of Things (IoT) systems and cloud connectivity service solutions, announced today that Mitch Haws has joined the company as its senior vice president of investor relations.

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Mitch Haws, Senior Vice President of Investor Relations, Semtech Corporation

Mr. Haws has an extensive background in investor relations, most recently as corporate vice president of investor relations at Advanced Micro Devices. Prior to that, he was vice president of investor relations at Skyworks Solutions and vice president of investor relations and global communications at Freescale Semiconductor. He is a certified Investor Relations Charter (IRC)® holder, was honored as a National Investor Relations Institute (NIRI) fellow and currently serves on the NIRI Board of Directors. Mr. Haws holds an MBA from Westminster College and a BA in Communications from Brigham Young University.

"We are pleased to welcome Mitch to our executive team," said Hong Hou, president and CEO. "Mitch brings deep expertise in capital markets, financial communications, and investor engagement, and he will play a major role in advancing our dialogue with shareholders and the broader investment community."

"I am excited to join Semtech at a key moment as it advances cutting-edge technologies and expands its market presence," said Haws. "I look forward to working with the leadership team to strengthen our relationships with investors and articulate the company's long-term strategy, market opportunities, and financial performance."

On May 12, 2025, and in connection with his joining the Company, Semtech granted Mr. Haws a restricted stock unit (RSU) award covering 30,110 shares of Semtech common stock and a performance-based restricted stock unit (PRSU) award covering a "target" of 30,110 shares of Semtech common stock. One-third of the RSUs are scheduled to vest on June 10, 2026, and the balance of the RSUs are scheduled to vest in equal quarterly installments every three months after the first vesting date until the award is fully vested, with vesting in each case subject to Mr. Haws' employment with the company through the applicable vesting date. Between 0% and 200% of the "target" number of PRSUs may become eligible to vest based on Semtech's net revenue, non-GAAP operating income, and relative total shareholder return performance over a three-year performance period consisting of Semtech's 2026, 2027 and 2028 fiscal years. A portion of the "target" number of PRSUs are allocated to each of the three performance periods under the award, and vesting of any PRSUs allocated to a performance period is subject to both Semtech's performance and Mr. Haws' employment with the company through the date following the end of that fiscal year on which performance is determined by Semtech for purposes of the award (except that no portion of the award will vest earlier than the first anniversary of the grant date, and Semtech's relative total shareholder return performance is measured over the entire three-year performance period). Stock units that vest will be paid in an equal number of shares of Semtech common stock. All of the stock units awarded to Mr. Haws on May 12, 2025 are structured to satisfy the "inducement grant" exception under applicable listing rules and, accordingly, they were not granted under Semtech's 2017 Long-Term Equity Incentive Plan.

Forward-Looking and Cautionary Statements

All statements contained herein that are not statements of historical fact, including statements that use the words "will" or other similar words or expressions, that describe Semtech Corporation's future plans, objectives or goals are "forward-looking statements" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Semtech Corporation to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company's ability to comply with, or pursue business strategies due to the covenants under the agreements governing its indebtedness; the Company's ability to remediate material weakness in its internal control over financial reporting, discovery of additional weaknesses, and its inability to achieve and maintain effective disclosure controls and procedures and internal control over financial reporting; the Company's ability to forecast and achieve anticipated net sales and earnings estimates in light of periodic economic uncertainty; the inherent risks, costs and uncertainties associated with integrating Sierra Wireless, Inc. successfully and risks of not achieving all or any of the anticipated benefits, or the risk that the anticipated benefits may not be fully realized or take longer to realize than expected; the uncertainty surrounding the impact and duration of supply chain constraints and any associated disruptions; export restrictions and laws affecting the Company's trade and investments, and tariffs or the occurrence of trade wars; worldwide economic and political disruptions, including as a result of inflation and current geopolitical conflicts; tightening credit conditions related to the United States banking system concerns; competitive changes in the marketplace including, but not limited to, the pace of growth or adoption rates of applicable products or technologies; downturns in the business cycle; decreasing average selling prices of the Company's products; the Company's reliance on a limited number of suppliers and subcontractors for components and materials; changes in projected or anticipated end-user markets; future responses to and effects of public health crises; and the Company's ability to forecast its annual non-GAAP normalized tax rate due to material changes that could occur during the fiscal year, which could include, but are not limited to, significant changes resulting from tax legislation, acquisitions, entity structures or operational changes and other significant events; and the additional risk factors set forth in Semtech Corporation's Annual Report on Form 10-K filed with the Securities and Exchange Commission (sec.gov) on March 25, 2025, as such risk factors may be updated, amended or superseded from time to time by subsequent reports that Semtech Corporation files with the Securities and Exchange Commission. Semtech Corporation assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.

About Semtech

Semtech Corporation (NASDAQ:SMTC) is a leading provider of high-performance semiconductor, IoT systems and cloud connectivity service solutions that enable a smarter, more connected, and sustainable planet. Our global teams are committed to empowering solution architects and application developers to develop breakthrough products for the infrastructure, industrial and consumer markets. To learn more about Semtech technology, visit us at Semtech.com or follow us on LinkedIn or X.

Semtech and the Semtech logo are registered trademarks or service marks of Semtech Corporation or its subsidiaries. All other trademarks, service marks, and trade names mentioned in this press release are the property of their respective owners.

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Mitch Haws

Semtech Corporation

webir@semtech.com