BAE Systems Honors Microphase Corporation, a Gresham Worldwide Company, with the ?Partner 2 Win' Supplier of the Year Award

SCOTTSDALE, Ariz., April 11, 2023 (GLOBE NEWSWIRE) -- Giga-tronics, Inc. d/b/a Gresham Worldwide (OTCQB: GIGA) ("Gresham Worldwide"), a provider of purpose-built electronic technology solutions for defense and other mission critical applications, today announced its subsidiary, Microphase Corporation, earned the ?Partner 2 Win' Supplier of the Year Award on April 6, 2023, from BAE Systems at a ceremony in Austin, Texas. Microphase was selected for this award from a pool of suppliers that delivered exceptional performance and contributions to supply chain success for BAE Systems, Inc.'s Electronic Systems sector.

"Microphase has partnered with BAE Systems on demanding, high profile defense programs for many years and greatly appreciates this recognition of the commitment to quality and hard work that our team has demonstrated," said Timothy V. Long, Microphase Chief Executive Officer. "We look forward to continuing and expanding our working relationship with BAE Systems in protecting our armed forces and securing a peaceful future for our nation."

BAE Systems' Partner 2 Win program is designed to achieve operational excellence and eliminate defects in its supply chain by raising the bar of performance expectations to meet the demand of current and future customers. As part of the program, BAE Systems meets regularly with its suppliers to transfer best practices to ensure that the components and materials that compose BAE Systems products meet the highest quality standards.

"The contributions of our top suppliers made an invaluable difference," said Kiran Dubey, vice president of Supply Chain for BAE Systems' Electronic Systems sector. "They enabled us to design, build, and deliver mission critical products and solutions for our customers around the globe."

About BAE Systems
BAE Systems, Inc. and its 34,000 people are part of a global defense, aerospace and security company with 89,600 employees worldwide. We deliver products and services for air, land, sea and space, as well as advanced electronics, intelligence, security, and IT solutions and support services. Our dedication shows in everything we design, produce and deliver? to protect those who protect us in a high-performance, innovative culture. We push the limits of possibility to provide a critical advantage to our customers where it counts.

About Microphase Corporation, a Gresham Worldwide Company
Microphase Corporation designs, engineers and manufacturers RF, microwave and millimeter wave devices, components and subsystems known for high performance and ultra-high reliability for mission critical applications in the defense industry. Microphase serves militaries and top tier defense contractors who support them with platforms in the air, on land and at sea around the world.

About Gresham (OTCQB: GIGA)
Gresham works through operating companies in the United States, the United Kingdom and Israel to deliver bespoke technology solutions that save, protect, and enhance life. Gresham focuses on providing turnkey Electronic Solutions for Defense, Test and Training applications, Power Electronics and Displays, and Radio Frequency, Microwave and Millimeter Wave Systems and Components. Gresham primarily supports the Defense & Aerospace industry as well as mission critical applications in Medical Technology, Transportation, Telecommunications, and Industrial market sectors. www.greshamworldwide.com

Forward-Looking Statements
This press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, including our 2023 revenue target, growth in each of the business units described in this press release and our cost reduction efforts and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. 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. Such risk and uncertainties include, among other factors, that (i) Gresham will continue to secure orders and backlog in 2023 and that its Giga-tronics legacy business development efforts to generate new orders (which currently essentially has no backlog) will improve, (ii) Gresham will secure adequate cash to bridge operations, (iii) the ongoing geopolitical military conflict (including, the Russian war on Ukraine, tensions with China and Taiwan and unrest in the Middle East) will continue, (iv) supply chain turmoil and inflation will continue to drive customer demand for Gresham's product offerings, (v) defense budgets for electronic technology solutions that Gresham provides will not decrease, and (vi) our key medical customer will not reduce expected orders in Israel. There can be no assurance that any of the foregoing assumptions will be accurate. Forward-looking statements speak only as of the date they are made, and Gresham undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect Gresham's business and financial results are included in Gresham's filings with the U.S. Securities and Exchange Commission, including, but not limited to, Gresham's Forms 10-K, 10-Q, and 8-K. All filings are available at www.sec.gov and on the Company's website at www.greshamworldwide.com.

For Additional Information, please contact:

KCSA Strategic Communications
Valter Pinto, Managing Director
PH: (212) 896-1254
[email protected]