Paris, France and Calabasas, California--(Newsfile Corp. - July 24, 2025) - Sequans Communications S.A. (NYSE: SQNS), a leading provider of cellular IoT semiconductors, and Swan Bitcoin, a premier Bitcoin wealth platform and institutional services provider, are pleased to announce the signing of a strategic Bitcoin Treasury Management Agreement. Under this agreement, Swan will advise and help implement Sequans' newly adopted Bitcoin treasury strategy, according to the plan first publicized on June 23.

Sequans, a leader in 5G and 4G chipsets and modules for IoT, is marking a bold shift in capital allocation by adopting Bitcoin as its primary reserve asset. As part of this strategic transformation, Swan's executive team - CEO Cory Klippsten, CIO Ben Werkman, and CTO Yan Pritzker - will provide formal advisory support on all aspects of treasury implementation and strategy execution.

To launch its Bitcoin Treasury Strategy, Sequans recently closed of a $384 million strategic investment through a private placement of convertible debt and equity. The company plans to accumulate over 3,000 BTC using the net proceeds from this initial investment. Execution of the strategy is already underway, with three major Bitcoin acquisitions completed: 370 BTC, 683 BTC, and 1,264 BTC, respectively.

As of July 18^th, these purchases bring Sequans' total Bitcoin holdings to 2,317 BTC, positioning it as the 21st largest publicly traded corporate Bitcoin treasury globally, according to BitcoinTreasuries.net. Sequans holds more Bitcoin than all of the "Mag7" tech giants combined and surpasses the Bitcoin reserves of 188 countries, underscoring how visionary companies can outpace even the largest corporations and nations.

"Sequans is establishing itself as an innovator in corporate finance by adopting a Bitcoin treasury strategy," said Cory Klippsten, CEO of Swan Bitcoin. "With a strong balance sheet and clear vision for the future, Sequans is poised to lead among Bitcoin Treasury Companies. Our mission is to help Sequans execute this strategy with speed, integrity, and excellence."

Swan will provide end-to-end strategic advisory services, including treasury design, capital markets guidance, custody architecture, analytics, and ongoing treasury management. Sequans will leverage Swan's deep expertise and network to ensure secure execution, robust governance, and market transparency.

"Sequans is embracing the future of capital by adopting Bitcoin as the foundation of our corporate treasury," said Dr. Georges Karam, CEO of Sequans. "We believe Bitcoin is the world's most pristine reserve asset. With the support of Swan's world-class team, Sequans is well-positioned to lead in this new era. Our goal is to maximize Bitcoin per share and deliver long-term value to our shareholders."

About Swan Bitcoin

Swan is a premier Bitcoin-based wealth platform serving the fast-growing cohort of Bitcoin investors, businesses, and institutions. Swan's mission-driven team simplifies Bitcoin custody, security, and investment, delivering elite concierge support, exclusive networking, and industry-leading research. Swan services include concierge OTC service, institutional-level liquidity, tax-loss harvesting, inheritance planning, Bitcoin treasury strategy, Swan IRA retirement accounts, and secure custody options ranging from individually named accounts at regulated institutions to Swan Vault multi-signature collaborative custody.

About Sequans

Sequans Communications S.A. (NYSE: SQNS) is a fabless semiconductor company with a Bitcoin treasury. We view Bitcoin as a long-term store of value and intend to strategically accumulate it as our primary treasury reserve asset. Our approach involves acquiring and holding Bitcoin using net proceeds from equity and debt issuances - executed from time to time based on market conditions - as well as cash generated from operations and intellectual property monetization.

Sequans is a leading semiconductor company specializing in wireless 4G/5G cellular technology for the Internet of Things (IoT). Our engineers design and develop innovative, secure, and scalable technologies that power the next generation of AI-connected applications - including secured payment, smart mobility and logistics, smart cities, industrial, e-health, and smart homes. We offer a comprehensive portfolio of solutions, including integrated circuits (IC) of baseband processors and radio frequency (RF) transceivers, modules, software, and protocol stacks. Our LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap/eRedCap platforms are purpose-built for IoT, delivering breakthroughs in wireless connectivity, power efficiency, security, and performance. We also provide advanced design services and technology licensing.

We believe our combination of a strategic Bitcoin reserve and deep focus on semiconductor innovation positions Sequans for long-term value creation.

Founded in 2003, Sequans is headquartered in France and operates globally, with offices in the United States, United Kingdom, Switzerland, Israel, Singapore, Finland, Taiwan, and China.

Forward-Looking Statements

This press release contains certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Sequans, including, but not limited to, with respect to the Company's Bitcoin treasury strategy, including expectations for the success of the strategy and the Company's partnership with Swan Bitcoin. These forward-looking statements include, but are not limited to, statements that are not historical fact. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-looking statements also often use words such as "anticipate," "committed to", "target," "continue," "estimate," "expect," "forecast," "intend," "may," "plan," "goal," "believe," "hope," "aims," "continue," "could," "project," "should," "will" or other words of similar meaning. These statements are based on assumptions and assessments made by Sequans in light of its experience and perception of historical trends, current conditions, future developments and other factors it believes appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct, and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement.

Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Such risks and uncertainties include, but are not limited to, potential adverse reactions or changes to business relationships resulting from the completion of the Qualcomm transaction. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces, including tariffs and trade wars. If any one or more of these risks or uncertainties materialize or if any one or more of the assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Such forward-looking statements should therefore be construed in the light of such factors. A more complete description of these and other material risks can be found in Sequans' filings with the SEC, including its annual report on Form 20-F for the year ended December 31, 2024, subsequent filings on Form 6-K and other documents that may be filed from time to time with the SEC. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Sequans undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law.

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