Announcement Re new premise in CA 15/11

BRAINCHIP QUADRUPLES U.S. HEADQUARTER SPACE TO FACILITATE GROWTH AS COMPANY ACCELERATES COMMERCIALIZATIONAliso Viejo, Calif. – November 11, 2021 – BrainChip Holdings Ltd (ASX: BRN), (OTCQX: BCHPY) a leading provider of ultra-low power high performance artificial intelligence technology and the world’s first commercial producer of neuromorphic AI chips, today announced it is moving its U.S. headquarters to larger facilities in order to support expected customer growth as the company continues to move toward commercialization of its Akida™ event domain neural processor and comprehensive development environment.BrainChip’s new 10,000 sq. ft. (929 sq. m) headquarters are located in Laguna Hills, California. The new offices will house the company’s development, engineering, sales, finance, and marketing teams. By expanding its physical footprint now, BrainChip is well positioned to scale the services and processes it is putting into place to satisfy expected customer and support infrastructure needs. The date of the move is November 15.With the recent announcement of the availability of development kits for its Akida™ advanced neural networking processor, BrainChip is anticipating a ramp up to production status of neuromorphic-based edge AI applications. The company’s expansion of office space reflects the expansion of strategic alliances and business development underway to accelerate commercialization of BrainChip IP.“We’ve reached an inflection point in which the need to find additional space to support our growth could no longer be ignored” said Anil Mankar, BrainChip co-founder and chief development officer. “Whereas the trend for many businesses today is to shrink their physical footprint, it just makes sense to move our headquarters to a facility that can support the growth of our development, production and sales teams. We look forward to having the room necessary to support our goals of delivering the next generation of AI at the edge to markets throughout the world.”BrainChip’s Akida brings artificial intelligence to the edge in a way that existing technologies are not capable. The solution is high-performance, small, ultra-low power and enables a wide array of edge capabilities. The Akida (NSoC) and intellectual property can be used in applications including Smart Home, Smart Health, Smart City and Smart Transportation. These applications include but are not limited to home automation and remote controls, industrial IoT, robotics, security cameras, sensors, unmanned aircraft, autonomous vehicles, medical instruments, object detection, sound detection, odor and taste detection, gesture control and cybersecurity.