Spectra7 Announces Results of its 2023 Annual and Special Meeting of Shareholders

SAN JOSE, Calif., June 15, 2023

All of the resolutions submitted for shareholder approval were adopted, including:

• the election of four directors;
• the appointment of the auditor; and
• the approval of amendments to the Company's stock option plan and restricted share unit plan (the "Amended Equity Incentive Plans").

Amended Equity Incentive Plans

The Amended Equity Incentive Plans reserve for issuance up to 7,965,460 common shares, being approximately 20% of the current issued and outstanding shares of the Company. The Amended Equity Incentive Plans are subject to final approval of the TSX Venture Exchange.

ABOUT SPECTRA7 MICROSYSTEMS INC.

Spectra7 Microsystems Inc. is a high-performance analog semiconductor company delivering unprecedented bandwidth, speed, and resolution to enable disruptive industrial design for leading electronics manufacturers in data centers, 5G infrastructure, virtual and augmented reality, and other connectivity markets. Spectra7 is based in San Jose, California with a design center in Cork, Ireland and technical support location in Dongguan, China. For more information, please visit www.spectra7.com.