Grants of Options under Long Term Incentive Plan

EnSilica, a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), announces that the Company has awarded, in aggregate, 178,625 share options to certain directors of the Company under the EnSilica plc Long Term Incentive Plan 2022 (the "2022 Plan") and amended some existing option targets.

Executive Director Options

The Company has awarded 128,625 share options under the 2022 Plan to its Chief Financial Officer, Kristoff Rademan. The award is over ordinary shares of £0.001 in the Company ("Ordinary Shares") in the form of options to acquire new Ordinary Shares at their nominal value ("LTIP Awards"). The LTIP Awards will vest on the third anniversary of grant subject to meeting a profit after tax ("PAT") target of £2.5 million in any given financial year. These options expire after ten years.

The Remuneration Committee has also agreed to amend the performance target for the awards granted under the 2022 Plan on 23 May 2022 to Mark Hodgkins, Executive Chair, and Ian Lankshear, Chief Executive Offer (1.5 million options and 3.0 million options respectively) from a fully diluted earnings per share ("EPS") target for the year ended 31 May 2025 to an annual PAT target of £2.5 million to be measured up to the financial year ending 31 May 2027. The Remuneration Committee deemed it more appropriate to adjust the performance target for these existing awards, which have a 50p exercise price and vest in full on achieving the PAT target, rather than allow the awards to lapse and consider entirely fresh awards. All other terms and conditions relating to the existing awards remain unchanged including expiry on 22 May 2032.

NED Options

The Company has awarded 50,000 share options with an exercise price of 39p (the mid-market closing price of EnSilica shares on 14 July 2025) to Stephen Brindle, Non-executive Director, who was appointed to the Board in January 2025. These awards vest as follows: 33.33% (16,665 shares) on the second anniversary of the date of grant and 66.67% (33,335 shares) on the fourth anniversary of the date of grant and have no performance conditions attached. This award following Stephen's appointment is in line with the Company's policy as reflected in the grant of simple market value options to Non-Executive Directors at the time of IPO in May 2022.