Peregrine Semiconductor to License its UltraCMOS® Intellectual Property to Murata

  Peregrine Semiconductor to License its UltraCMOS® Intellectual Property to
  Murata

   Agreement to cover advanced RFSOI-based design, process and third-party
                                   sourcing

Business Wire

SAN DIEGO -- March 4, 2013

Peregrine Semiconductor Corporation (NASDAQ: PSMI), a fabless provider of
high-performance radio frequency integrated circuits (RFICs), today announced
its intention to collaborate with Murata Manufacturing Company on a
multisource arrangement for RF switches and other components based on
Peregrine’s proprietary UltraCMOS^® technology. Under the proposed
collaboration agreement, Murata would be granted a license to design and
manufacture RF switches and other switch-related components utilizing
Peregrine’s technology and intellectual property (IP). The parties expect this
agreement to result in an expanded source of supply for these critical RF
components, and to assure global OEMs broad access to RF CMOS products.

Peregrine Semiconductor pioneered RF CMOS-based devices with its UltraCMOS ^
technology, an advanced form of Silicon-On-Insulator (SOI) process, and more
than 20 years of research and development have resulted in 140 patents issued
and pending. With this strong IP portfolio, Peregrine has established a
leading position in the RF front-end section of mobile devices for RF switches
and tunable RF components.

Murata is a leading supplier of RF front-end modules for the global mobile
wireless marketplace. RF front-end modules are products that incorporate RF
switches and tuning devices with SAW filters, passive components, and advanced
packaging techniques.

“Global OEM customers of both Peregrine and Murata have for some time
requested that the companies implement an independent source of supply for the
critical switching elements that are widely utilized in today’s smart phones
and other wireless-communications products,” said Jim Cable, Peregrine’s
President and CEO. “This agreement marks the first license of Peregrine’s core
switch-based intellectual property to a third party and we look forward to
entering into this collaborative arrangement with Murata.”

Regarding today’s announcement, Norio Nakajima, Murata’s Vice President,
Communication Business Unit, stated, “Peregrine has fundamental IP in
CMOS-based switches and tuning products with its UltraCMOS technology. This IP
licensing arrangement solidifies our existing relationship and future
collaboration with Peregrine. We believe that the combination of Murata’s
filter and packaging technology with Peregrine’s UltraCMOS switch and tuning
technology is a formidable RF front-end solution.”

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of
the federal securities laws, including the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on our current
expectations, estimates and projections about our industry and business,
management’s beliefs, and certain assumptions made by us, all of which are
subject to change. Forward-looking statements can often be identified by words
such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,”
“seeks,” “estimates,” “may,” “will,” “should,” “would,” “could,” “potential,”
“continue,” “ongoing,” similar expressions, and variations or negatives of
these words. These statements are not guarantees of future performance and are
subject to risks, uncertainties and assumptions that are difficult to predict.
Such risks and uncertainties include, but are not limited to the possibility
that we are unable to reach a final agreement with Murata, and other risks as
outlined in our form 10-K for the year ended December 29, 2012 filed with the
Securities and Exchange Commission on February 19, 2013. Any forward-looking
statements in this press release speak only as of the date on which it is
made. We undertake no obligation to revise or update publicly any
forward-looking statement to reflect future events or circumstances.

About Peregrine Semiconductor

Peregrine Semiconductor (NASDAQ: PSMI) is a fabless provider of
high-performance radio frequency integrated circuits (RFICs). Our solutions
leverage our proprietaryUltraCMOS^®technology, an advanced RF
Silicon-On-Insulator process. Our products deliver what we believe is an
industry-leading combination of performance and monolithic integration, and
target a broad range of applications in the aerospace and defense, broadband,
industrial, mobile wireless device, test and measurement equipment, and
wireless infrastructure markets. Additional information is available
athttp://www.psemi.com.

     The Peregrine Semiconductor name, logo, and UltraCMOS are registered
  trademarks of Peregrine Semiconductor Corporation in the U.S.A., and other
  countries. All other trademarks mentioned herein are the property of their
                              respective owners.

Contact:

Peregrine Semiconductor Corporation
Michelle Ragsdale
Senior Public Relations Generalist
858.795.0154
mragsdale@psemi.com