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STATEMENT: LeddarTech concludes a licensing agreement with Renesas (2)

(Information sent by the signatory company).

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STATEMENT: LeddarTech concludes a licensing agreement with Renesas (2)

(Information sent by the signatory company)

QUEBEC CITY, March 20, 2024 /PRNewswire/ -- LeddarTech Holdings Inc. ("LeddarTech") (Nasdaq: LDTC), an automotive software company providing proprietary low-level sensor fusion and perception software technology based in AI, LeddarVision™, for ADAS, AD and parking applications, is pleased to announce that it has signed a long-term licensing agreement with Renesas Electronics America Inc. to commercialize the LCA2 programmable system-on-chip (SoC) product families and LCA3.

LeddarTech collaborated with Renesas (formerly IDT) to develop the LCA2 and LCA3 programmable SoC products. LeddarTech's distinctive LiDAR software, combined with AI-based low-level perception and fusion, formed the foundation of LeddarTech's ADAS and AD offerings for automotive OEMs and Tier 1-2. This agreement with Renesas is one of the results of LeddarTech's strategic transition to a pure-play automotive software company, building on LeddarVision's AI-based low-level perception and fusion software for advanced driver assistance and AD systems. In connection with this transition, LeddarTech is pursuing a licensing model with strategic partners and customers for its solid-state LiDAR products and technology, and this agreement with Renesas is currently one of the most notable licenses established in this process.

"I am very pleased to have closed this licensing agreement with Renesas," said Frantz Saintellemy, President and CEO of LeddarTech. "Renesas has been an important strategic partner of LeddarTech for several years, and this agreement will benefit both organizations and the LiDAR market, leveraging our joint investments in the development of these products. Under this licensing agreement, Renesas will leverage its sales force global and its customer base. LeddarTech will strive to maximize the value of our core solid-state LiDAR technology assets for many years to come," Saintellemy concluded.

About LeddarTech

LeddarTech, a global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal, Toronto and Tel Aviv, Israel, develops and provides comprehensive low-level sensor fusion and perception software solutions based in AI that enable the implementation of ADAS, autonomous driving (AD) and parking applications. LeddarTech's automotive-grade software applies advanced computer vision and artificial intelligence algorithms to generate accurate 3D models of the environment for better decision-making and safer navigation. This cost-effective, scalable, high-performance technology is available for OEMs and Tier 1-2 suppliers to efficiently deploy ADAS solutions for automobiles and off-road vehicles.

LeddarTech is responsible for several innovations in remote sensing, with over 150 patent applications (80 granted) improving ADAS, AD and parking capabilities. Greater vehicle awareness is critical to making global mobility safer, more efficient, sustainable and affordable – this is what drives LeddarTech to seek to become the most adopted sensor fusion and perception software solution.

Additional information about LeddarTech is available at www.LeddarTech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

Forward-looking statements

Certain statements contained in this press release may be considered forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements regarding anticipated strategy, future operations, prospects and LeddarTech objectives, as well as financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend on or refer to future events or conditions, and include words such as "may," "will," "should," "expect," "anticipate," "plan," "probable", "believe", "estimate", "project", "intend" and other similar expressions, among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statements as a result of various factors, including, but not limited to: (i) the possibility that the anticipated benefits of LeddarTech's recent business combination may not be realized; (ii) the risk that shareholder litigation in connection with the business combination or other agreements or investigations could result in significant costs of defense, indemnification and liability; (iii) changes in general and/or industry-specific economic conditions; (iv) potential disruptions resulting from the business combination that could harm LeddarTech's business; (v) LeddarTech's ability to retain, attract and recruit key personnel; (vi) potential adverse reactions or changes in relationships with customers, employees, suppliers or other parties, including as a result of the business combination; (vii) potential business uncertainty, including changes in existing business relationships following the business combination that could affect LeddarTech's financial performance; (viii) legislative, regulatory and economic developments; (ix) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreaks of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as the management response to any of the aforementioned factors; (x) access to capital and financing and LeddarTech's ability to maintain compliance with debt covenants; (xi) LeddarTech's ability to execute its business model, achieve design advancements and generate significant revenues; and (xii) other risk factors detailed from time to time in LeddarTech's reports filed with the United States Securities and Exchange Commission (the "SEC"), including risk factors contained in LeddarTech's annual report filed on Form 20-F for the year ended September 30, 2023. The above list of important factors is not exhaustive. Except as required by applicable law, LeddarTech undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Daniel Aitken, Vice President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com

Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its affiliates. All other brands, product names and brands are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

LeddarTech Holdings Inc. is a public company listed on the NASDAQ under the symbol "LDTC."

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