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NAPA: Napatech Signs Breakthrough Contract with Tier-1 Global Semiconductor Supplier

08:00 / 22 December 2022 Napatech Press release

COPENHAGEN, Denmark - Dec. 22, 2022 - NapatechTM (OSLO: NAPA.OL), the leading
provider of programmable Smart Network Interface Cards (SmartNICs) and
Infrastructure Processing Units (IPU) used in cloud, enterprise and telecom
datacenter networks today announced it has entered into a material and
multi-faceted agreement with a tier-1 global semiconductor leader to develop new
hardware and software solutions.

The contract executed on December 21, 2022, meets the threshold of material
insider information and is thus subject to disclosure per the Oslo Stock
Exchange regulations. The initial terms of the multi-year agreement total $5M
USD in revenue during the first year, with $4M USD invoiced in December 2022.

The contract, and its associated terms, represents a significant milepost by
Napatech in executing upon its strategic plan. It provides both validation of
the product and technology vision that the company has set, and an infusion of
capital to continue to expand its investments to fulfill its goals.

This transformational business agreement includes commercial and operational
terms that provide additional value to Napatech. The details will be disclosed
in the first quarter of 2023, subject to agreement by this partner, and will
include product, technology, business and commercial terms.

"The initial scope of the agreement defines the development of new hardware and
software solutions that align with the highest growth areas of the market," said
Ray Smets, chief executive officer at Napatech. "This allows us to access a new
set of customers whose applications and services are fueling demand, unlocking
Napatech's strategic value for customers and shareholders."

About Napatech
Napatech is the leading supplier of programmable SmartNIC solutions used in
cloud, enterprise, and telecom datacenters worldwide. Through commercial-grade
software suites integrated with robust, high-performance hardware, Napatech
accelerates network and security workloads to deliver best-in-class system-level
performance while maximizing the availability of server compute resources for
running applications and services. Additional information is available at:

No Forward-Looking Statements
This press release may contain forward-looking statements which are only
predictions and may differ materially from actual future events or results due
to a variety of factors, including but not limited to, business conditions,
trends in the industry and markets, global economic and geopolitical conditions,
macro-economic factors, and other risks and uncertainties set forth in
Napatech's reports. The matter discussed in this release is based on current
expectations and may be subject to change. Napatech will not necessarily update
this information. For details, visit us at:

Media Relations Investor Relations
Shannon Van Every Heine Thorsgaard
Force4 Chief Financial Officer
+1.408.313.9974 +45.2241.8090
Oslo Børs

This information was distributed by Oslo Børs