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Press release from Business Wire

Peregrine Semiconductor to License its UltraCMOS® Intellectual Property to Murata

<p class='bwalignc'> <i>Agreement to cover advanced RFSOI-based design, process and third-party sourcing</i> </p>

Monday, March 04, 2013

Peregrine Semiconductor to License its UltraCMOS® Intellectual Property to Murata17:00 EST Monday, March 04, 2013 SAN DIEGO (Business Wire) -- Peregrine Semiconductor Corporation(NASDAQ: PSMI), a fabless provider of high-performance radio frequency integrated circuits (RFICs), today announced its intention to collaborate with Murata Manufacturing Company on a multisource arrangement for RF switches and other components based on Peregrine's proprietary UltraCMOS® technology. Under the proposed collaboration agreement, Murata would be granted a license to design and manufacture RF switches and other switch-related components utilizing Peregrine's technology and intellectual property (IP). The parties expect this agreement to result in an expanded source of supply for these critical RF components, and to assure global OEMs broad access to RF CMOS products. Peregrine Semiconductor pioneered RF CMOS-based devices with its UltraCMOStechnology, an advanced form of Silicon-On-Insulator (SOI) process, and more than 20 years of research and development have resulted in 140 patents issued and pending. With this strong IP portfolio, Peregrine has established a leading position in the RF front-end section of mobile devices for RF switches and tunable RF components. Murata is a leading supplier of RF front-end modules for the global mobile wireless marketplace. RF front-end modules are products that incorporate RF switches and tuning devices with SAW filters, passive components, and advanced packaging techniques. “Global OEM customers of both Peregrine and Murata have for some time requested that the companies implement an independent source of supply for the critical switching elements that are widely utilized in today's smart phones and other wireless-communications products,” said Jim Cable, Peregrine's President and CEO. “This agreement marks the first license of Peregrine's core switch-based intellectual property to a third party and we look forward to entering into this collaborative arrangement with Murata.” Regarding today's announcement, Norio Nakajima, Murata's Vice President, Communication Business Unit, stated, “Peregrine has fundamental IP in CMOS-based switches and tuning products with its UltraCMOS technology. This IP licensing arrangement solidifies our existing relationship and future collaboration with Peregrine. We believe that the combination of Murata's filter and packaging technology with Peregrine's UltraCMOS switch and tuning technology is a formidable RF front-end solution.” Cautionary Statement Regarding Forward-Looking Information This press release contains “forward-looking statements” within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “could,” “potential,” “continue,” “ongoing,” similar expressions, and variations or negatives of these words. These statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Such risks and uncertainties include, but are not limited to the possibility that we are unable to reach a final agreement with Murata, and other risks as outlined in our form 10-K for the year ended December 29, 2012 filed with the Securities and Exchange Commission on February 19, 2013. Any forward-looking statements in this press release speak only as of the date on which it is made. We undertake no obligation to revise or update publicly any forward-looking statement to reflect future events or circumstances. About Peregrine Semiconductor Peregrine Semiconductor (NASDAQ: PSMI) is a fabless provider of high-performance radio frequency integrated circuits (RFICs). Our solutions leverage our proprietary UltraCMOS® technology, an advanced RF Silicon-On-Insulator process. Our products deliver what we believe is an industry-leading combination of performance and monolithic integration, and target a broad range of applications in the aerospace and defense, broadband, industrial, mobile wireless device, test and measurement equipment, and wireless infrastructure markets. Additional information is available at http://www.psemi.com. The Peregrine Semiconductor name, logo, and UltraCMOS are registered trademarks of Peregrine Semiconductor Corporation in the U.S.A., and other countries.All other trademarks mentioned herein are the property of their respective owners. Peregrine Semiconductor CorporationMichelle RagsdaleSenior Public Relations Generalist858.795.0154mragsdale@psemi.com