SkyWater and Rockley Photonics Expand Relationship to Enable Wafer Back-End-Of-Line Processing for Wearable Health Sensors

SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, and Rockley Photonics (NYSE: RKLY), a leading global silicon photonics technology company, today announced that they have broadened their engagement to include wafer back-end-of-line processing for Rockley’s spectrophotometer-on-a-chip health monitoring solution. The expanded relationship with SkyWater, which is part of the multi-sourcing efforts at Rockley, will enhance Rockley’s manufacturing network reliability and scalability.

Rockley utilized SkyWater’s Advanced Technology Services through the development phase, transitioned to production Wafer Services for front-end processing, and now utilizes back-end-of-line assembly capabilities at SkyWater’s advanced packaging facility in Florida. SkyWater’s Technology as a Service^SM (TaaS) model combines process R&D, wafer fabrication, and advanced packaging technology services to provide customers with powerful competitive advantages, including supply chain transparency, robust IP protection, and an accelerated time to market.

“SkyWater provides us with a domestic U.S. source for advanced wafer-level components which is a critical part of our multi-source supply chain strategy. As we target high-volume consumer and industrial applications, deepening our connection with SkyWater is an important step in expanding our manufacturing ecosystem,” said Dr. Andrew Rickman, chief executive officer and founder of Rockley Photonics. “The expansion of our strong, multi-year relationship with SkyWater is evidence of our shared vision for Rockley’s unique silicon photonics platform.”

“This is an excellent example of the value our TaaS model brings to our customers to develop customized manufacturing solutions that enable their differentiated technologies,” said Thomas Sonderman, SkyWater president and CEO. “Rockley’s innovative silicon photonics platform is an important breakthrough in the fast-growing health wearables market and aligns with SkyWater’s market strategy, extending our value chain for this application space. We’re excited to be Rockley’s strategic supplier in the U.S. to provide them with both front-end and back-end-of-line solutions to help Rockley bring its transformational technology to market.”

By enabling the measurement of biomarkers previously undetectable by consumer devices using noninvasive technologies, Rockley expects to be able to overcome the key challenges associated with mobile wellness monitoring. While many of today’s wearable consumer electronic devices use green light-emitting diodes to monitor heart rate, Rockley’s infrared spectrophotometers can detect and monitor a much wider range of biomarkers, which could dramatically increase the functionality of wearable devices.

Rockley’s recently announced “clinic-on-the-wrist” digital health sensor system has the potential to provide wearable devices with a new range of sensing capabilities that includes continuous, non-invasive monitoring of multiple biomarkers: core body temperature, blood pressure, body hydration, alcohol level, lactate, and glucose, among others. Featuring a wristband that contains the sensor module and communicates with custom cloud-based analytical engines (via a Rockley smartphone app), Rockley’s full-stack sensing solution is positioned to revolutionize consumer health and wellness.

About Rockley Photonics

A global leader in silicon photonics, Rockley (NYSE: RKLY) is developing a comprehensive range of photonic integrated circuits and associated modules, sensors, and full-stack solutions. From next-generation sensing platforms specifically designed for mobile health monitoring and machine vision to high-speed, high-volume solutions for data communications, Rockley is laying the foundation for a new generation of applications across multiple industries. Rockley believes that photonics will eventually become as pervasive as micro-electronics, and it has developed a platform with the power and flexibility needed to address both mass markets and a wide variety of vertical applications.

Formed in 2013 by Dr. Andrew Rickman (who previously founded the first commercial silicon photonics company, Bookham Technology), Rockley is uniquely positioned to support hyper-scale manufacturing and address a multitude of high-volume markets. Rockley has partnered with numerous Tier-1 customers across a diverse range of industries to deliver the complex optical systems required to bring transformational products to market. To learn more about Rockley, visit rockleyphotonics.com.

About SkyWater Technology

SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DOD-accredited Trusted supplier. SkyWater’s Technology as a Service^SM model streamlines the path to production for customers with development services, volume production and advanced packaging solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, read-out ICs, rad-hard, power discretes, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit: www.skywatertechnology.com.

Rockley Photonics Forward-Looking Statements

Statements in this press release that are not historical facts constitute “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding Rockley’s future expectations, beliefs, plans, objectives, and assumptions regarding future events or performance. The words “anticipate,” “believe,” “can,” “continue,” “could,” “enable,” “estimate,” “eventual,” “expect,” “future,” “intend,” “may,” “might,” “opportunity,” “outlook,” “plan,” “possible,” “position,” “potential,” “predict,” “project,” “revolutionize,” “seem,” “should,” “trend,” “will,” “would” or other terms that predict or indicate future events, trends, or expectations, and similar expressions or the negative of such expressions may identify forward-looking statements, but the absence of these words or terms does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements regarding the following: (a) the potential benefits of the expanded relationship between SkyWater and Rockley, including with respect to anticipated manufacturing and supply chain benefits; (b) the potential of Rockley’s digital health sensor system to bring a new range of sensing capabilities to wearable devices; (c) Rockley’s full-stack sensing solution being positioned to revolutionize consumer health and wellness; (d) Rockley’s expectation regarding overcoming the key challenges associated with mobile wellness monitoring; (e) the potential of Rockley’s infrared spectrophotometers to dramatically increase the functionality of wearable devices; (f) the anticipated and potential features and benefits of Rockley’s platform, products, and technology; (g) Rockley’s belief that photonics will eventually become as pervasive as micro-electronics; (h) the ability of Rockley’s platform to address both mass markets and a wide variety of vertical applications; and (i) Rockley’s potential to support hyper-scale manufacturing, address a multitude of high-volume markets, and deliver the complex optical systems required to bring transformational products to market.

Forward-looking statements are subject to several risks and uncertainties (many of which are beyond Rockley’s control) or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: (i) Rockley’s ability to achieve commercial production of its products and technology, including in a timely and cost-effective manner; (ii) Rockley’s ability to achieve customer design wins, convert memoranda of understanding and development contracts into production contracts, and achieve customer acceptance of its products and technology; (iii) risks related to purchase orders, including the lack of long-term purchase commitments, the cancellation, reduction, delay, or other changes in customer purchase orders, and if and to the extent customers seek to enter into licensing arrangements in lieu of purchases; (iv) Rockley’s history of losses and need for additional capital and its ability to access additional financing to support its operations and execute on its business plan, as well as the risks associated with any future financings; (v) legal and regulatory risks, including those related to its products and technology and any threatened or actual litigation; (vi) risks associated with its fabless manufacturing model and dependency on third-party suppliers; (vii) Rockley’s reliance on a few significant customers for a majority of its revenue and its ability to expand and diversify its customer base; (viii) Rockley’s financial performance; (ix) the impacts of COVID-19 on Rockley, its customers and suppliers, its target markets, and the global economy; (x) Rockley’s ability to successfully manage growth and its operations as a public company; (xi) fluctuations in Rockley’s stock price and Rockley’s ability to maintain the listing of its ordinary shares on the NYSE; (xii) Rockley’s ability to anticipate and respond to industry trends and customer requirements; (xiii) changes in Rockley’s current and future target markets; (xiv) intellectual property risks; (xv) Rockley’s ability to compete successfully; (xvi) market opportunity and market demand for, and acceptance of, Rockley’s products and technology, as well as the customer products into which Rockley’s products and technology are incorporated; (xvii) risks related to international operations; (xviii) risks related to cybersecurity, privacy, and infrastructure; (xix) risks related to financial and accounting matters; (xx) general economic, financial, legal, political, and business conditions and changes in domestic and foreign markets; (xxi) Rockley’s ability to realize the anticipated benefits of its recently completed business combination with SC Health Corporation; and (xxii) changes adversely affecting the businesses or markets in which Rockley is engaged, as well as other factors described under the heading “Risk Factors” in the prospectus/proxy statement filed by Rockley on July 22, 2021, Rockley’s quarterly report on Form 10-Q for the quarter ended June 30, 2021, and in other documents Rockley files with the Securities and Exchange Commission in the future.

The forward-looking statements contained in this press release are based on various assumptions, whether or not identified in this press release, and on Rockley’s current expectations, beliefs, and assumptions and are not predictions of actual performance. If any of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, actual results may differ materially from those discussed in or implied by these forward-looking statements. There can be no assurance that future developments affecting Rockley will be those that have been anticipated. These forward-looking statements speak only as of the date hereof and Rockley specifically disclaims any obligation to update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

SkyWater Technology Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to factors discussed in the “Risk Factors” section of the prospectus the Company filed with the SEC on April 22, 2021, its quarterly report on Form 10 Q for the quarter ended July 4, 2021 and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SKYT-CORP

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