GCT Semiconductor and Iridium Sign MOU to Collaborate on Integrating Iridium NTN Direct℠ Service into GCT Chipset

GCT plans to enhance its advanced GDM7243SL 4G/5G chipset to support Iridium NTN NB-IoT

GCT Semiconductor Holding Inc. (“GCT”) (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, today announced its collaboration with Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communication, to integrate the Iridium NTN Direct℠ service into GCT’s advanced GDM7243SL chipset.

GCT and Iridium will work together to expedite the development of a new Iridium® network-enabled Narrowband Internet of Things (NB-IoT) chipset based on requirements for 3GPP Release 19. Both companies will jointly explore opportunities, business models, use cases, and commercial deployments requirements for the new Iridium network-enabled NB-IoT chipset, designed for the next wave of 5G Advanced that will integrate satellite technologies into 5G.

“GCT is thrilled to collaborate with Iridium, a leading innovator in satellite IoT applications,” said John Schlaefer, CEO of GCT. “Building on our expertise in 4G, 5G, and NTN technology, along with our leading multi-mode IoT chip, GDM7243SL, we are excited to broaden our reach into the non-terrestrial market. Working with Iridium, our goal is to address the growing need for trackers, satellite phones, and other IoT solutions.”

“Integrating Iridium NTN Direct with GCT’s chipset will enable their customers to experience truly global, reliable standards-based connectivity in a compact, efficient form,” said Greg Pelton, CTO, Iridium. “GCT is an innovative partner, forward-thinking, and deeply engaged in helping bring this next-generation service to market.”

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 and 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 GCT’s collaboration with Iridium and ability of GCT’s 4G/5G chipsets to address additional markets. 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 the Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and those disclosures under the "Risk Factors" section 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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GCT and Iridium will work together to expedite the development of a new Iridium® network-enabled Narrowband Internet of Things (NB-IoT) chipset based on requirements for 3GPP Release 19.