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MEMSIC Announcement

Release Time:2022.05.18

Dear Valued Partners,

Since November 2019, MEMSIC Semiconductor started a new journey of a three-year rapid growth period. With the leadership of the management team, we have made significant improvement and growth in multiple fronts, including organizational development, product development, and market expansion.

Recently, Mr. Charlie Zhi submitted his resignation to the company for personal reasons, and no longer serves as the CEO or any other position of the company. Mr. Charlie Zhi was diligent in carrying out his duties during his term as MEMSIC CEO and led the company to achieve rapid growth in last a few years. The board of directors of the company sincerely appreciate Mr. Zhi’s contribution to MEMSIC.

By decision of the board of directors, Mr. Sam Lu was appointed the new CEO of MEMSIC Semiconductor. The appointment was effective from May 12, 2022. Mr. Sam Lu has worked for many world-class multinational companies in the CIS and MEMS industry, with more than 20 years of experience in sensor and MEMS field, and more than 15 years of experience managing teams with diversified background. In the past two years, Mr. Lu has served as Senior VP of MEMSIC product, marketing and worldwide sales and has played a crucial role in the company's product portfolio planning, branding and rapid growth of sales revenue through world-wide market expansion. We believe that with the leadership of Mr. Sam Lu, and strong support from our business partners, the development of MEMSIC will reach a new height in the next three years!

Looking forward, MEMSIC will work closely with all business partners, continue to expand the industry leadership of accelerometer and magnetic sensor product lines, and be firmly committed to investing in new areas such as six-axis combo inertial sensor and image stability products. Our goal is to make MEMSIC a worldwide leader in its field. We are fully committed to this goal and will keep investing to ensure its delivery. The shareholders, board of directors and the management team are highly confident for MEMSIC’s great future!

Best Regards

MEMSIC Board of Directors

May 18th , 2022