GCT Semiconductor and Ligado Networks Announce Commercial Availability of Band 54 Modules

FCC Certification of GCT’s Luna Cat-12 LTE Module Paves the Way for Nationwide Critical Infrastructure Private Network Use of Licensed Mid-band Spectrum

Ligado Networks (“Ligado”), a satellite communications company, and GCT Semiconductor Holding Inc. (“GCT”) (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, announced today that GCT’s Luna Cat-12 LTE module is now commercially available after clearing Federal Communications Commission (FCC) certification. The module is a foundational technology for a new ecosystem of commercial devices operating on LTE Band 54 spectrum at 1670-1675 MHz.

GCT’s GCM4701NA module advances the LTE Band 54 ecosystem, creating new opportunities for the critical infrastructure industry, including utilities and enterprises building robust private networks. The module contains GCT’s GDM7243A chipset and provides 4G LTE (Cat 12) connectivity for a broad range of devices built by original equipment manufacturers (OEMs) serving these market segments.

“Band 54 stands out as a highly distinctive mid-band spectrum resource for the utility and enterprise segments – a 3GPP-standardized and a fully-licensed 5-MHz TDD block available nationwide,” said Sachin Chhibber, Chief Technology Officer at Ligado Networks. “Licensed spectrum assures availability and enhances security to enable more robust and secure private networks. The Luna module’s availability marks a major milestone in ecosystem support for the spectrum.”

“We’re excited to be collaborating with Ligado on the launch of the GCM4701NA module to support Band 54 devices,” said Frank Jungman, VP of Technical Marketing at GCT. “The 5-MHz slice of lower mid-band frequencies allows for the expansion of private networks for critical infrastructure. Adding Band 54 to our line of high-speed modules opens opportunities for our customers in this growing market.”

The GCM4701NA module is a Cat-12 PCIe form factor, supporting FDD Bands 2 and 66, as well as TDD Bands 48 and 54. It was designed to meet the high-performance demands of private network user equipment. After sampling with a range of OEMs, the module is now certified and commercially available. For product information and/or samples, contact marketing@gctsemi.com at GCT.

About Ligado Networks

Building on 25 years of experience providing mobile satellite services, our mission is to bring versatile connectivity to the businesses, people and places that need it most. Our satellite and terrestrial solutions, combined with powerful, lower mid-band spectrum, serve to supplement, and broaden mobile coverage across the United States and Canada. For more information, visit www.ligado.com.

About GCT Semiconductor, Inc.

GCT Semiconductor 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 LTE connectivity to numerous commercial devices such as smartphones, tablets, hotspots, USB dongles, routers, M2M applications, etc., for the world's top LTE carriers. GCT's system-on-chip solutions integrate radio frequency, baseband modem and digital signal processing functions, therefore offering complete 4G 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 GCT’s collaboration with Ligado and availability of Band 54 Module. 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 enter into and meet the obligations under partnership and collaboration agreements; 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 that the Company may not be able to repay its debt; 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 Company’s filings with SEC, including registration statements on Form S-1 and quarterly reports on Form 10-Q and those disclosures under the "Risk Factors" sections therein. 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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