Cohu Opens New Semiconductor Test Design Center in Penang

POWAY, Calif., June 21, 2024 — Cohu, Inc. (NASDAQ: COHU), a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity, today announced the opening of its new 20,000 square foot design center in Penang, Malaysia, which will focus on the development of next generation high-speed digital and analog instrumentation.

Jeff Jones, SVP and CFO, commented, “We selected Penang due to its strategic proximity to our contract manufacturer, and customer base, and a well-developed infrastructure, skilled workforce and supportive business environment. We plan to further invest in and expand the engineering design center by focusing on delivering high precision test solutions enabling our customers to deliver high performance and high-quality semiconductors.  Cohu has a long history of automation design and manufacturing in Malaysia, and we are excited to participate in the expanding electrical and system design ecosystem in Penang.”

The challenge for Cohu semiconductor test technology is to develop the next generation precision instrument to test tomorrow’s demanding semiconductor performance. The design center will support Cohu’s goal to expand its semiconductor test technology to develop the next generation precision instrument to test increasingly demanding semiconductor performance. This requires the integration of leading-edge technology from high-speed circuit design to custom IC design, controlled with advanced software systems. Cohu is a leader in cost effective air-cooled architecture and instruments that do not require compressed air or chilled water and consume less power versus a liquid-cooled test system, enabling semiconductor manufacturers to produce more devices with smaller factories and lower energy consumption.

Penang EXCO, YB Zairil Khir Johari (representing the Chief Minister of Penang, Right Honourable Mr Chow Kon Yeow) stated, “Cohu’s high-speed digital instrument design center will be the first of its kind in Southeast Asia. Often lauded for its well-developed industrial ecosystem, Penang has the capacities and capabilities to support the needs of industrial players in next-generation technologies and growth strategies. I am optimistic that Cohu will be able to reap many benefits from its operation in Penang, the Silicon Valley of the East.”.

Ts. Mahadhir Aziz, CEO of MDEC said, “The Malaysia Digital Economy Corporation (MDEC) warmly welcomes the inauguration of Cohu’s design center in Penang. This new facility will enable local scientists and engineers to extend the frontiers of innovation. The investment and planned recruitment of up to 60 research engineers demonstrate Cohu’s commitment to fostering innovation and developing local talent. This initiative aligns with the Malaysia Digital (MD) strategy to establish Malaysia as the digital hub of ASEAN.”

About InvestPenang

InvestPenang is the Penang State Government’s principal agency for the promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention), and Global Business Services (GBS) Focus Group (promoting and developing digital economy). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook; LinkedIn.

About MDEC

Established in 1996 under the purview Ministry of Digital, Malaysia Digital Economy Corporation (MDEC) is at the forefront of driving Malaysia’s digital economy. Initiated by the Malaysian government to execute the MSC Malaysia initiative, we actively spearhead nationwide digital transformation and growth. Through strategic intervention via a range of initiatives in fostering digital innovation, adoption and growth driven by efficient organisation, our mission is to position Malaysia as the digital hub of ASEAN. We work collaboratively to accelerate Malaysia’s journey towards becoming a prominent player in the global digital landscape. Join us in shaping the future of Malaysia’s digital economy.

Learn more at www.mdec.com.my

About Cohu:

Cohu (NASDAQ: COHU) is a global technology leader supplying test, automation, inspection and metrology products and services to the semiconductor industry. Cohu’s differentiated and broad product portfolio enables optimized yield and productivity, accelerating customers’ manufacturing time-to-market. Additional information can be found at www.Cohu.com.

Forward Looking Statements:

Certain statements contained in this release and accompanying materials may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding including statements regarding the success or strategic nature of new product development plans, including next-generation products; expansion of any facility or workforce and the products to be produced at such facilities; planned technology development and growth expected from customer adoption; and any other statements that are predictive in nature and depend upon or refer to future events or conditions; and/or include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend;” and/or other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Any third-party industry analyst forecasts quoted are for reference only and Cohu does not adopt or affirm any such forecasts.

Actual results and future business conditions could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: new product investments and product enhancements which may not be commercially successful; the semiconductor industry is seasonal, cyclical, volatile and unpredictable; recent erosion in mobile, automotive and industrial market sales; our ability to manage and deliver high quality products and services; failure of sole source contract manufacturer or our ability to manage third-party raw material, component and/or service providers; ongoing inflationary pressures on material and operational costs coupled with rising interest rates; economic recession; the semiconductor industry is intensely competitive, subject to rapid technological changes, and experiences consolidation of key customers for semiconductor test equipment; a limited number of customers account for a substantial percentage of net sales; significant exports to foreign countries with economic and political instability and competition from a number of Asia-based manufacturers; our relationships with customers may deteriorate; loss of key personnel; risks of using artificial intelligence within Cohu’s product developments and business; reliance on foreign locations and geopolitical instability in such locations critical to Cohu and its customers; natural disasters, war and climate-related changes, including related economic impacts; levels of debt; access to sufficient capital on reasonable or favorable terms; foreign operations and related currency fluctuations; required or desired accounting charges and the cost or effectiveness of accounting controls; instability of financial institutions where we maintain cash deposits and potential loss of uninsured cash deposits; significant goodwill and other intangibles as percentage of our total assets; increasingly restrictive trade and export regulations impacting our ability to sell products, specifically within China; risks associated with acquisitions, investments and divestitures such as integration and synergies; constraints related to corporate governance structures; share repurchases and related impacts; financial or operating results that are below forecast or credit rating changes impacting our stock price or financing ability; law/regulatory changes and including environmental or tax law changes; significant volatility in our stock price; the risk of cybersecurity breaches; enforcing or defending intellectual property claims or other litigation.

These and other risks and uncertainties are discussed more fully in Cohu’s filings with the SEC, including our most recent Form 10-K and Form 10-Q, and the other filings made by Cohu with the SEC from time to time, which are available via the SEC’s website at www.sec.gov. Except as required by applicable law, Cohu does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

For press releases and other information of interest to investors, please visit Cohu’s website at www.cohu.com.

Investor Contact:

Cohu, Inc.

Jeffrey D. Jones, 858-848-8106

Investor Relations