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Announcement of the Acquisition of the Semiconductor Business from Panasonic

Nuvoton Technology Corporation (TSEC:4919, herein “Nuvoton”) announced today that it has entered into a Stock and Asset Purchase Agreement with Panasonic Corporation (TSE:6752, herein “Panasonic”) under which Nuvoton will acquire the semiconductor business of Panasonic mainly operated by Panasonic Semiconductor Solutions., Ltd. (herein “PSCS”) in an all-cash transaction. The transaction has been approved by the Board of Directors of Nuvoton.

PSCS, located in Nagaokakyo City, Kyoto, is a leading global supplier of semiconductor devices and solutions with products that focus on “Sensing” technologies such as Image Sensors, Image / Digital Signal Processors, “Microcontroller” technologies such as MCU, IC Card, Battery Management, Power Management and ”Component” technologies such as MOSFET, RF-GaN and Laser Diode.

The acquisition of the semiconductor business mainly operated by PSCS will generate greater value for customers and shareholders of both companies, and will:

- Increase Nuvoton’s presence in the global semiconductor industry through greater scale and volume of semiconductor solutions;

- Position Nuvoton well to capture secular growth trends in the electrification and automation of automotive and industrial fields;

- Broaden Nuvoton’s distribution channels and customer base to explore cross-selling opportunities; and

- Strengthen Nuvoton’s technology platform via deeper R&D resources and a broader intellectual property portfolio.

This transaction, which is expected to close by June 2020, is subject to certain closing conditions including obtaining required regulatory and certain other approvals and consents in the relevant jurisdictions.”

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