Peraso authorizes strategic alternatives review, retains Craig-Hallum, evaluates Mobix Labs proposal

Peraso Inc.

Board authorized exploration of strategic alternatives including merger or sale of assets.
Retained Craig-Hallum Capital Group as financial advisor for the process.
Continuing to evaluate unsolicited non-binding proposal from Mobix Labs (disclosed June 27, 2025).
Management pursuing funding arrangements to address short-term cash needs and conserving cash by delaying expenditures.
No assurance that exploration will result in any transaction or as to its outcome or timing.

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