FY 2023 and 2024 YTD Trading Update and Notice of Results

LONDON, United Kingdom and TORONTO, Ontario, Canada 16 April 2024 – Alphawave IP Group plc (LN: AWE, the “Company” or “Alphawave Semi”), a global leader in high-speed connectivity for the world’s technology infrastructure, is publishing a trading update for the year ended 31 December 2023 and for the year-to-date 2024.

Based on the near completion of the audit process, the Company now expects FY 2023 revenue of approximately US$318m-323m which is below the original outlook for the year (US$340m to US$360m). This is mainly due to the accelerated transition away from China, and changes in expected revenue recognition of long-term contracts in advanced nodes.

For detailed update and more reports, visit “Alphawave Semi Financial Results”