Peregrine Semiconductor Ships First UltraCMOS® 10 Production Units

In Collaboration with GLOBALFOUNDRIES, Peregrine Completes Product and Process Qualification for Its Advanced RF SOI Technology

SAN DIEGO — (BUSINESS WIRE) — May 6, 2014 — Peregrine Semiconductor Corp. (NASDAQ: PSMI), founder of RF SOI (silicon on insulator) and pioneer of advanced RF solutions, announces shipment of the first RF switches built on the UltraCMOS 10 technology platform. With partner GLOBALFOUNDRIES, the company also announces the completion of product and process qualification for the advanced RF SOI technology.

Introduced in October 2013, UltraCMOS 10 technology provides smartphone manufacturers with unparalleled performance and flexibility. The 130 nm technology combines the performance of UltraCMOS technology with the economies of SOI, and it delivers a more than 50-percent performance improvement over comparable solutions. The advanced technology addresses the unique growth requirements for mobile applications and is the foundation for Peregrine’s next-generation RF switches, tuners and power amplifiers, including the industry’s first reconfigurable RF front end, UltraCMOS Global 1.

“UltraCMOS 10 technology builds on Peregrine’s 25 year legacy of providing high-performance, integrated RF solutions,” says Mark Miscione, vice president of RF technology solutions at Peregrine Semiconductor. “Our technology platform was created to advance the future of RF design with a comprehensive SOI solution. Peregrine is pleased to ship the first of our UltraCMOS 10 switches.”

To develop UltraCMOS 10 technology, Peregrine collaborated with GLOBALFOUNDRIES, a tier-one foundry and leading provider of semiconductor manufacturing technology. Together, the companies co-developed a unique fabrication flow for the versatile RF SOI platform. With the qualification process complete, UltraCMOS 10 technology is now a fully qualified technology platform.

“Peregrine Semiconductor has proven to be an excellent partner for GLOBALFOUNDRIES,” says KC Ang, senior vice president and general manager of Singapore operations at GLOBALFOUNDRIES. “Peregrine has a strong history of innovation and performance leadership, and we believe this trend will continue with the co-developed UltraCMOS 10 technology, the highest performance RF SOI technology in existence.”

USE OF FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding our management's future expectations, beliefs, intentions, goals, strategies, plans and prospects. Such statements constitute “forward-looking” statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The achievement of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any of these risks or uncertainties materialize or if any of the assumptions prove incorrect, our actual results, performance or achievements could be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to, our dependence on a limited number of customers for a substantial portion of our revenues; intellectual property risks; intense competition in our industry; our ability to develop and introduce new and enhanced products on a timely basis and achieve market acceptance of those products; consumer acceptance of our customers’ products that incorporate our solutions; our lack of long-term supply contracts and dependence on limited sources of supply; and potential decreases in average selling prices for our products.

For further information regarding risks and uncertainties associated with Peregrine’s business, please refer to the filings that we make with the Securities and Exchange Commission from time to time, including those set forth in the section entitled “Risk Factors” in our Form 10-K for the year ended December 29, 2012 and additional information that will be set forth in our Form 10-K that will be filed for the year ended December 28, 2013, which should be read in conjunction with these financial results. These documents are available on the SEC Filings section of the Investor Relations section of our website at http://investors.psemi.com/. Please also note that forward-looking statements represent our management's beliefs and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information, becomes available in the future.

ABOUT PEREGRINE SEMICONDUCTOR

Peregrine Semiconductor (NASDAQ: PSMI), founder of RF SOI (silicon on insulator), is a leading fabless provider of high-performance, integrated RF solutions. Since 1988 Peregrine and its founding team have been perfecting UltraCMOS® technology – a patented, advanced form of SOI – to deliver the performance edge needed to solve the RF market’s biggest challenges, such as linearity. With products that deliver best-in-class performance and monolithic integration, Peregrine is the trusted choice for market leaders in automotive, broadband, industrial, Internet of Things, military, mobile devices, smartphones, space, test-and-measurement equipment and wireless infrastructure. Peregrine holds more than 180 filed and pending patents and has shipped more than 2 billion UltraCMOS units. For more information, visit 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.

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