Mobix Labs Sweetens Offer to Acquire Peraso with Cash and Stock Deal Delivering Value Now and Growth Ahead

~ Enhanced proposal delivers both immediate value and long-term upside for Peraso stockholders ~

Mobix Labs, Inc. (NASDAQ:MOBX), a provider of advanced connectivity and sensing solutions, today announced that it has enhanced its proposal to acquire Peraso, Inc. (NASDAQ:PRSO) by adding a cash component to its original all-stock offer.

The improved proposal gives Peraso stockholders the best of both worlds:

• Cash – immediate, certain value.
• Stock – participation in the growth and upside of the combined company.

"This is a rare opportunity for Peraso stockholders," said Keyvan Samini, President and Chief Financial Officer of Mobix Labs. "Our enhanced proposal delivers real cash in hand on closing and the chance to share in the long-term growth of a stronger, more competitive company. We are building a bigger, stronger business positioned for future success — and we want Peraso stockholders to share in that success. We believe this path creates superior value compared to the uncertain outlook Peraso currently faces."

Mobix Labs has repeatedly sought to engage with Peraso's Board of Directors to discuss its initial proposal to acquire the company. Despite these efforts, Peraso's Board has declined to meet, even for non-confidential discussions. With this enhanced cash-and-stock offer, Mobix Labs has again requested a prompt meeting and has asked the Peraso Board to provide a response by 5:00 p.m. Pacific Time on Monday, September 8, 2025.

"If the Peraso Board continues to refuse to engage, we are prepared to take this offer directly to Peraso stockholders," Samini added. "Our strong preference, however, is a cooperative, negotiated transaction that creates significant long-term value for both companies' stockholders."

About Mobix Labs

Mobix Labs, Inc. (NASDAQ:MOBX) is a provider of advanced connectivity and defense technology solutions for mission-critical applications. The company's products are deployed in leading defense platforms and advanced communication systems worldwide.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Mobix Labs, Inc.'s ("Mobix") revised proposal to acquire Peraso, Inc. ("Peraso"), the terms and structure of any such transaction, the expected benefits of a combination, the anticipated timing of discussions or actions by the Peraso Board, and Mobix's plans, strategies, expectations, intentions, or future performance. Forward-looking statements are based on Mobix's current expectations, beliefs, and assumptions, and are not guarantees of future performance. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements.

Important factors that could cause actual results to differ materially include, but are not limited to: (i) the possibility that Peraso's Board of Directors will not engage with Mobix or approve a transaction; (ii) the outcome of any tender offer, exchange offer, or solicitation that may be initiated by Mobix; (iii) uncertainties as to whether Peraso stockholders will support a transaction; (iv) the risk that required regulatory approvals may not be obtained on the anticipated terms or timing, or at all; (v) the possibility that competing offers or other strategic alternatives may be pursued by Peraso; (vi) potential litigation relating to the proposed transaction; (vii) risks related to the financing of any cash component of the proposed transaction, including availability and cost of capital; (viii) risks related to the integration of Peraso's business, operations, and employees with those of Mobix, including potential disruption of relationships with customers, suppliers, employees, or other business partners; (ix) risks relating to Peraso's business and prospects, including its financial condition, operating results, and need for additional capital; (x) volatility in the trading prices of Mobix's and Peraso's securities; and (xi) general economic, regulatory, and industry conditions.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Mobix undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this press release, whether as a result of new information, future events, or otherwise. For a discussion of additional risks and uncertainties applicable to Mobix, please refer to its filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

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