GCT Semiconductor Holding Inc. (“GCT”) (NYSE: GCTS), a leading designer and supplier of advanced 4G and 5G semiconductor solutions, and Giesecke+Devrient (G+D), a global provider of eSIM technology and developer of the first GSMA SGP.32 fully-certified product, today announced their partnership to launch a cutting-edge SGP.32 eSIM solution with Integrated Profile Activation Device (IPAd) support for multi-network IoT devices. This collaboration for eSIMs, or SIM cards directly embedded into a device, brings intelligent, location-aware connectivity to headless 4G and 5G IoT devices. In addition, the collaboration ensures peak performance based on location, availability, cost and policy – an unprecedented advancement for mission-critical applications across industries. GCT will be including this advanced capability in all future 4G & 5G chipsets.

SGP.32 is GSMA’s latest eSIM technical specification for IoT that ensures eSIM IoT technologies are secure and interoperable with networks worldwide. By integrating SGP.32 with the software component IPAd’s capabilities directly into GCT’s multi-network 4G and 5G chipsets and modules, the solution enables out-of-the-box connectivity and flexible lifecycle management without the need for physical SIM swaps or user intervention.

“The adoption of eSIM technology in IoT devices and wearables has become increasingly popular, driven by the new capabilities of remote SIM,” said John Schlaefer, CEO of GCT. “However, many IoT devices lack a user interface to fully access this functionality - a challenge that IPAd effectively addresses. We look forward to working closely with G+D to provide advanced device flexibility and improved security for the growing market of IoT products worldwide.”

“The eSIM market continues to grow, both in importance and size, and is one of the core connectivity solutions of the future especially in the IoT area. Since introducing the first eSIM in 2012, and to date having provided over 500 million eSIM downloads, G+D has pioneered this space with solution innovation and by driving industry adoption and collaboration,” said BeeGek Lim, Global Head of Digital Connectivity Solutions at G+D. “To stay at the forefront of this technology it is important to collaborate with the right partners. We are pleased to work closely with GCT to continue to define and shape the cellular connected future of the IoT.”

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.

About Giesecke+Devrient

Giesecke+Devrient (G+D) is a global SecurityTech company headquartered in Munich, Germany. G+D makes the lives of billions of people more secure. The company shapes trust in the digital age, with built-in security technology in three segments: Digital Security, Financial Platforms and Currency Technology.

G+D was founded in 1852 and today has a workforce of more than 14,000 employees. In the fiscal year 2024, the company generated a turnover of 3.1 billion euros. G+D is represented by 118 subsidiaries and joint ventures in 41 countries. Further information: www.gi-de.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 partnership with G+D and ability of GCT’s 4G/5G chipsets to address additional markets, including IoT 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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“The adoption of eSIM technology in IoT devices and wearables has become increasingly popular, driven by the new capabilities of remote SIM,” said John Schlaefer, CEO of GCT.