GCT Semiconductor Holding Inc. (“GCT” or the “Company”) (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, announces the world’s first highly integrated multi-mode LTE chipset capable of operating in Cat 4, Cat 1bis, Cat-M1, Cat NB1/NB2 and non-terrestrial networks (NTN). Leveraging over two decades of leadership in 450 MHz solutions, this new SoC is optimized for device deployments in private, mission-critical infrastructure, and public utility networks around the globe, enabling true global coverage over land, sea, and air.

As 450 MHz deployments are expected to grow to the tens of millions, GCT is using its deep expertise in both the 450 MHz space and the industrial sector to enable 450 MHz Alliance members to address new markets and requirements. “450 MHz device deployments are already in millions of devices worldwide and serve critical communications needs in safety and emergency services, as well as remote healthcare facilities, schools, and more,” said John Schlaefer, CEO of GCT. “With this new chipset, GCT is fully ready to support the continued growth of 450 MHz, 410 MHz, and 380 MHz networks worldwide.”

“We’re excited to have GCT continue its support of the 450 MHz Alliance members and ecosystem,” said Gösta Kallner, Executive Chairman of 450 MHz Alliance. “Bringing a new LTE chipset to market during a time when 5G has taken the spotlight shows true leadership and understanding of the 450 MHz market as it enters a period of strong growth.”

With dual RX and low-band dual TX, GDM7243SL utilizes UL diversity and higher power to maintain connectivity even in challenging conditions, such as underground or remote deep forests that do not have access to traditional terrestrial networks. GCT’s new dual-core solution offers integrated RAM and optional Flash, allowing customers to create fully integrated devices without requiring an external processor. GDM7243SL’s monolithic baseband and radio features tuning from 380 MHz to 3,800 MHz, with multiple ports available to reduce external RF components.

GDM7243SL is expected to sample to customers in the fourth quarter of this year. Contact sales@gctsemi.com for more information.

About GCT Semiconductor Holding, Inc.

GCT is a leading fabless designer and supplier of advanced 5G and 4G LTE semiconductor solutions. GCT’s market-proven solutions have enabled fast and reliable 4G LTE connectivity to numerous commercial devices such as CPEs, mobile hotspots, routers, M2M applications, smartphones, etc., for the world’s top wireless carriers. GCT’s system-on-chip solutions integrate radio frequency, baseband modem, and digital signal processing functions, therefore offering complete 4G and 5G platform solutions with small form factors, low power consumption, high performance, high reliability, and cost-effectiveness. For more information, visit www.gctsemi.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1955. These forward-looking statements include, without limitation, statements regarding 450 MHz deployments, the expected timeline for shipping samples, and the Company’s products to support 450 MHz deployments. Words such as "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company's control and are difficult to predict. Factors that may cause actual future events to differ materially from the expected results, include, but are not limited to: the ability of the Company to develop its 5G products and generate revenue; the ability of the Company to grow and manage growth profitability and retain its key employees; the Company's financial and business performance, including the Company's financial projections and business metrics; changes in the Company's strategy, future operations, financial position, estimated revenues and losses, forecasts, projected costs, prospects and plans; the Company's inability to anticipate the future market demands and future needs of its customers; the impact of component shortages, suppliers' lack of production capacity, natural disasters or pandemics on the Company's sourcing operations and supply chain; the Company's future capital requirements and sources and uses of cash; the ability of the Company to raise sufficient capital to fund its operations; the ability to implement business plans, forecasts, and other expectations, including the growth of the 5G market; the risk of economic downturns that affects the Company's business operation and financial performance; the risk that the Company may not be able to develop and design its products acceptable to its customers; actual or potential conflicts of interest of the Company's management with its public stockholders; and other risks and uncertainties indicated from time to time in the registration statement on Form S-1, and Form 10-Q filed with the SEC, including those under the "Risk Factors" section therein and other filings with the SEC. The foregoing list of factors is not exhaustive. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

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