‘For the avoidance of doubt, these are typographical errors only’

LONDON, United Kingdom and TORONTO, Ontario, Canada 2 May possibly 2023 — Alphawave IP Group plc (LSE: AWE, the “Company” or “Alphawave Semi”) notes the subsequent typographical errors in its preliminary effects for the 12 months finished 31 December 2022 published on 28 April 2023:

— Capitalised R&D, pages 4,11 and 12, US$7.5m. Amended to US$7.2m.

— Working fees, web site 11, US$88.6m. Amended to US$86.6m.

— Money produced from operating actions ahead of tax, webpage 28, US$’000 (2,857). Amended to US$’000 7,818.

— Earnings contribution from the acquisition of OpenFive, web page 74, US$70,644,000. Amended to US$70,827,000.

— Accrued income from WiseWave, page 5, US$14.9m. Amended to US$20.2m.

— Accrued fees, web page 64, $US4.0m. Amended to US$4.0m.

For the avoidance of question, these are typographical mistakes only and not adjustments ensuing from the completion of the audit do the job.

Despite the fact that the audit processes are considerably complete, and the Enterprise does not be expecting any improvements to the preliminary success, the Company’s exterior auditor has requested more time to comprehensive its inner oversight and assurance procedures before issuing its official audit impression. The principal reason for this is because of the additional treatments necessary in relationship with the firsttime audit of the Company as an enlarged team next a few transformational acquisitions in excess of the previous calendar year. These transactions bundled both of those entire business acquisitions, carve-outs, financial debt funding, and a 366% boost in headcount.

Publication of the audited outcomes is now predicted to be on or before 12 Could 2023, which falls exterior the deadline needed by the Economic Carry out Authority’s Disclosure and Transparency Procedures for the publication of audited monetary statements. As a consequence, the Firm will request for the listing of its shares to be suspended from buying and selling for a brief interval from 7.30am on 2 Might 2023 until eventually the publication of its audited FY 2022 benefits.

The Corporation reiterates both equally its advice for FY 2023 and its prolonged-time period direction. In addition, the Company printed its Q1 2023 trading assertion this early morning, which marked the initially time that bookings have surpassed US$100M in a one quarter.