Renesas Announces Execution of Facilities Agreement for Altium Acquisition

As announced in the press release “Regarding Acquisition of Stock of Altium Limited” issued on February 15, 2024, Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, reached an agreement with Altium Limited (“Altium”, ASX: ALU), a global leader in electronics design systems, in which Renesas will acquire all outstanding shares of Altium, making Altium a wholly-owned subsidiary of Renesas, subject to the satisfaction of certain conditions (the “Acquisition”).To provide a portion of the funds for the Acquisition, Renesas today entered into a loan agreement (“Facilities Agreement”) with a borrowing limit of 1 trillion yen as described below.

1. Overview of the loan agreement (Facilities Agreement)

(1) Borrowing limit: 1 trillion yen

(2) Execution date of agreement: May 30, 2024　

(3) Drawdown date: From three business days after the effective date of the Acquisition

(4) Final repayment date: The fifth anniversary of the drawdown date

(5) Major participating financial institutions:

MUFG Bank, Ltd., Mizuho Bank, Ltd., and Sumitomo Mitsui Trust Bank, Ltd.

(Note) The Acquisition scheme described in the press release “Regarding Acquisition of Stock of Altium Limited” will become effective upon approvals by Altium shareholders, the relevant regulatory authorities and the Australian courts. Subject to satisfaction of the forementioned requirements, the Acquisition is expected to be completed in the second half of 2024.

2. Future expectations

While the influence of the transaction on Renesas business performance has not yet been determined at present, Renesas will make an announcement in a timely manner once any material impact is made to its business performance.

Additional Information

This press release has been prepared for the purpose of announcing to the public certain matters relating to the execution of facilities agreement for Altium acquisition, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan. In addition, this press release does not constitute an offer or sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.

(Remarks) All names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.

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