SkyWater Expands Board of Directors with Appointment of Dennis Goetz and Joseph Humke

New board members bring decades of finance and legal expertise to bolster SkyWater's strategic growth initiatives

SkyWater Technology (NASDAQ:SKYT), the trusted technology realization partner, today announced the appointment of two accomplished professionals to its board of directors: Dennis Goetz and Joseph Humke, effective April 1, 2024. Both individuals bring valuable expertise and experience that will significantly contribute to the strategic direction and growth trajectory of the company. Mr. Goetz will serve on the Board's Audit Committee and Mr. Humke will serve on the Nominating and Corporate Governance Committee.

Mr. Goetz joins the Board with extensive finance experience as a versatile leader and trusted business advisor with a history of driving profitable growth and sustainable value creation. He has served in several roles as CFO, including his current position with Pohlad Companies, a private holding company with diverse investments, since April 2020. He previously served as the founder and principal of Boyd Consulting Group, LLC, providing services in the areas of M&A, financial leadership, accountancy and strategic planning. Prior to this, he served as CFO for United Sports Brands and as CFO and chief accounting officer of Buca, Inc. Mr. Goetz received a BBA in finance and accounting from the University of Wisconsin Eau Claire, an MBA in finance and strategic management from the University of Minnesota's Carlson School of Business and he is a Certified Management Accountant.

Mr. Humke brings broad legal and M&A experience to SkyWater's Board, further strengthening its governance and strategic decision-making processes. He has a proven track record of driving successful M&A transactions and navigating complex legal landscapes. He currently serves as Executive Vice President, General Counsel and Corporate Secretary of Graco, Inc. where he is responsible for overseeing its global legal function. He also advises its board of directors and its committees on governance and compliance-related matters. Prior to joining Graco, he was an Equity Partner at Ballard Spahr LLP, an Am Law 100 law firm and at Lindquist & Vennum LLP where he also served as Chair of its Corporate/M&A Practice Group. Mr. Humke received his BBA in banking, finance and investments from University of Wisconsin-Madison and a Juris Doctor from Marquette University Law School.

"Dennis and Joe's expertise in developing and implementing organic and M&A growth plans, alongside judicious capital allocation, will be instrumental in shaping our company's financial strategies for the future," said SkyWater's Chairman of the Board Gary Obermiller. "Both will be important team members in guiding our continuous improvement and optimizing operational resources to maximize profits and cash flow."

"We are thrilled to extend a warm welcome to our newest board members," stated SkyWater CEO Thomas Sonderman. "They bring decades of leadership and expertise in areas crucial for SkyWater's growth. Their appointments enrich the breadth of knowledge and proficiency within our board."

About SkyWater Technology

SkyWater (NASDAQ:SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater's Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, read-out ICs, rad-hard ICs, MEMS, superconducting ICs, photonics and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit: www.skywatertechnology.com.

SkyWater Technology Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company's current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company's actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the "Risk Factors" section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

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