Qualcomm considers buying Alphawave Semi

Possible Offer for Alphawave IP Group PLC

April 1, 2025 - Qualcomm Incorporated (“Qualcomm” or the “Company”) (NASDAQ: QCOM) notes the recent share price movement of Alphawave IP Group PLC (“Alphawave”) and confirms that it is considering making an offer to acquire the entire issued, and to be issued, share capital of Alphawave. There can be no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made.

Rule 2.6(a) of the Code requires that Qualcomm, by no later than 5.00 p.m. (London time) on 29 April 2025, being 28 days after the date of this announcement, must either announce a firm intention to make an offer for Alphawave in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Alphawave, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Takeover Panel, in accordance with Rule 2.6(c) of the Code.

As a consequence of this announcement, an “offer period” has now commenced in respect of Alphawave in accordance with the rules of the Code and the attention of Qualcomm shareholders and Alphawave shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below. A further announcement will be made if and when appropriate.