Sequans Communications Announces Completion of ADS Repurchase Program and Approval of New Buyback Authorization

Paris, France--(Newsfile Corp. - December 18, 2025) - Sequans Communications S.A. (NYSE: SQNS) ("Sequans" or the "Company"), a pioneer in Bitcoin treasury and a leading provider of 5G/4G cellular IoT semiconductor solutions, today announced the successful completion of its previously authorized ADS repurchase program and the approval of a new program by its Board of Directors.

As of December 17, 2025, Sequans has repurchased a total of 1,516,973 American Depositary Shares ("ADSs"), representing approximately 9.7% of the Company's outstanding ADSs. The repurchases were completed at an average price of $6.17 per ADS, including fees and commissions. Following these repurchases, the current number of ADS outstanding is approximately 14.5 million (or 15.5 million, including the potential exercise of pre-funded warrants). The reduction in the number of outstanding ADSs generated a 6.1% yield in Bitcoin per outstanding ADS (assuming exercise of pre-funded warrants). The ADS repurchases were funded through proceeds received from the Company's recent Bitcoin dispositions, demonstrating Sequans disciplined capital allocation strategy.

"Completing our initial buyback program and launching a new one underscores our commitment to enhancing shareholder value," said Dr. Georges Karam, CEO of Sequans. "By repurchasing shares at prices below NAV and continuing to optimize our Bitcoin treasury strategy, we are increasing Bitcoin per share and reinforcing our focus on accretive growth. We remain dedicated to delivering long-term value through disciplined capital allocation and strategic execution.".

Sequans Board of Directors has approved a new ADS repurchase program authorizing the buyback of up to an additional 10% of the Company's outstanding ADSs. The timing and amount of repurchases under the new program will depend on market conditions, ADS price, and other factors, and will be executed in accordance with applicable regulations.

Forward Looking Statements

This press release contains certain statements that are, or may be deemed to be, forward-looking statements with respect to ADS repurchase plans, the financial condition, results of operations and business of Sequans, bitcoin treasury plans, financing requirements, and business strategy for the remainder of 2025 and beyond. These forward-looking statements include, but are not limited to, statements that are not historical fact. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-looking statements also often use words such as "anticipate," "committed to", "target," "continue," "estimate," "expect," "forecast," "intend," "may," "plan," "goal," "believe," "hope," "aims," "continue," "could," "project," "should," "will" or other words of similar meaning. These statements are based on assumptions and assessments made by Sequans in light of its experience and perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct, and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement.

Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Such risks and uncertainties include, but are not limited to, our ability to successfully implement our Bitcoin treasury strategy and potential adverse reactions or changes to business relationships resulting from the implementation of the Bitcoin treasury initiative. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces, including tariffs and trade wars. If any one or more of these risks or uncertainties materialize or if any one or more of the assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Such forward-looking statements should therefore be construed in the light of such factors. A more complete description of these and other material risks can be found in Sequans' filings with the SEC, including its annual report on Form 20-F for the year ended December 31, 2024, "Risk Related to Our Bitcoin Strategy and Holdings" filed on Form 6-K on July 17, 2025 and other documents that may be filed from time to time with the SEC. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Sequans undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law.

About Sequans

Sequans Communications S.A. (NYSE: SQNS) is a leading fabless semiconductor company specializing in wireless 4G/5G cellular technology for the Internet of Things (IoT) as well as a pioneer in Bitcoin Treasury. Sequans' engineers design and develop innovative, secure, and scalable technologies that power the next generation of AI-connected applications - including secured payment, smart mobility and logistics, smart cities, industrial, e-health, and smart homes. Sequans offers a comprehensive portfolio of 4G/5G solutions, including LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap/eRedCap platforms, all purpose-built for IoT and delivering breakthroughs in wireless connectivity, power efficiency, security, and performance. The company also provides advanced design services and technology licensing.

Founded in 2003, Sequans is headquartered in France and operates globally, with offices in the United States, United Kingdom, Switzerland, Israel, Finland, Taiwan, and China.

To learn more, please visit sequans.com

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