Transphorm, Inc. (“Transphorm” or the “Company”) (OTCQX: TGAN)— a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products, announced that the Company’s common stock has been approved to begin trading today on the OTCQX® Best Market. Transphorm upgraded to OTCQX from the OTCQB® Venture Market.

Transphorm’s Chief Financial Officer, Cameron McAulay, commented, “We are extremely pleased to announce the upgrade to the OTCQX Best Market, a designation that aligns with Transphorm’s commitment to meet the highest financial standards for compliance, disclosure and corporate governance. Further, trading our stock on OTCQX expands our reach to a broader set of prospective investors, while also providing shareholders with increased liquidity and accessibility. This achievement is another important milestone in our growth and development toward our ultimate goal of trading on a national exchange.”

The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the Company at www.otcmarkets.com.

About Transphorm, Inc.

Transphorm, Inc., a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power conversion applications. Having one of the largest Power GaN IP portfolios of more than 1,000 owned or licensed patents, Transphorm produces the industry’s first JEDEC and AEC-Q101 qualified high voltage GaN semiconductor devices. The Company’s vertically integrated device business model allows for innovation at every development stage: design, fabrication, device, and application support. Transphorm’s innovations are moving power electronics beyond the limitations of silicon to achieve over 99% efficiency, 40% more power density and 20% lower system cost. Transphorm is headquartered in Goleta, California and has manufacturing operations in Goleta and Aizu, Japan. For more information, please visit www.transphormusa.com. Follow us on Twitter @transphormusa and WeChat ID: TransphormGaN.

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