Transphorm to Be Added to the Russell 2000® and Russell 3000® Indexes Today After Market Close

Transphorm, Inc. (NASDAQ: TGAN) — an innovative design pioneer and global supplier of efficient, high-reliability, high-performance gallium nitride (GaN) power conversion products, announced today that the Company is anticipated to join the FTSE Russell 2000^® and Russell 3000^® Indexes at the conclusion of the Russell US Indexes annual reconstitution, which takes effect after the US market closes today.

Primit Parikh, Transphorm’s President and Co-founder, commented, “Being added to the Russell 2000^® and 3000^® Indexes provides greater visibility and stature among institutional investors and signifies the value we are creating for our shareholders.”

Membership in the US all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000^® Index or the large-cap Russell 1000^® Index, as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $16 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell indexes and their reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

About Transphorm

Transphorm, Inc., a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power conversion applications. Having one of the largest Power GaN IP portfolios of more than 1,000 owned or licensed patents, Transphorm produces the industry’s first JEDEC and AEC-Q101 qualified high voltage GaN semiconductor devices. The Company’s vertically integrated device business model allows for innovation at every development stage: design, fabrication, device, and application support. Transphorm’s innovations are moving power electronics beyond the limitations of silicon to achieve over 99% efficiency, 40% more power density and 20% lower system cost. Transphorm is headquartered in Goleta, California, and has manufacturing operations in Goleta and Aizu, Japan. For more information, please visit www.transphormusa.com. Follow us on Twitter @transphormusa and WeChat @ Transphorm_GaN.

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