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WiSA Wave Marketing Program Continues to Drive and Grow Consumer Traffic to WiSA and Member Websites

SmallCaps Daily April 14, 2021

294 4 minutes read

SAN JOSE, Calif.—(April 14, 2021)—WiSA® LLC, founded by SummitWireless Technologies (NASDAQ: WISA), today announced strong, continued website traffic and category exposure driven by the WiSA Wave Marketing Program. The program, launched on September 1, 2020, creates specific digital marketing assets and campaigns and provides Association members access to WiSA’s analytics and growing consumer database. WiSA is forecasting website traffic to reach one million visitors in 2021.

WiSA Wave has shown significant web traffic growth quarter to quarter and year over year.

Nearly 140,000 visitors were driven to websites for WiSA or brands and retailers in Q1 2021 versus over 34,000 in Q1 2020, representing a 234% increase.

In Q1 2021, nearly 18% of all WiSA website visitors continued their journey to a member or retailer website to learn more about or buy a WiSA Certified™ product.

Even with WiSA Wave exposing a large number of new, in-market enthusiasts to the category, organic, direct and referral traffic remains strong in the 18%-21% range, reinforcing the growing awareness of WiSA.

“We are constantly working with our members to add value to their initiatives through advancements in technology, product development support, distribution, category and product marketing, and consumer awareness,” said Tony Ostrom, President of WiSA. “Over the next year, we will grow the wireless home cinema category through effective consumer outreach and communication, education, increased distribution of WiSA Certified solutions from WiSA members, and the continued expansion of WiSA Certified and WiSA Ready™ products.”

More than 20 Association members, including LG, Hisense, Bang & Olufsen, Skyworth, Harman Kardon, Klipsch, Onkyo, System Audio, Buchardt, Savant, Primare, Enclave Audio, Axiim, EC Living, Almando, and Platin Audio, are shipping WiSA Ready and WiSA Certified products this year. The Association is driving the interoperability standard from multiple brands and product categories, including TVs, transmitters and speakers, to leverage the vast capabilities of WiSA Certified products to build ideal systems across multiple price points. By spearheading the marketing and messaging of the wireless home cinema category, WiSA is garnering actionable analytics that are resulting in spikes in sales for its members.

About WiSA, LLC

WiSA®, the Wireless Speaker and Audio Association, is a consumer electronics consortium dedicated to creating interoperability standards utilized by leading brands and manufacturers to deliver immersive sound via intelligent devices. WiSA Certified™ components from any member brand can be

combined to dramatically increase the enjoyment of movies and video, music, sports, gaming/esports, and more. WiSA also combines robust, high definition, multi-channel, low latency surround sound with the simple setup of a soundbar. For more information about WiSA, please visit: www.wisaassociation.org .

About Summit Wireless Technologies, Inc.

Summit Wireless Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung, LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of Microsoft, Hisense and others, Summit Wireless delivers seamless, dynamic audio experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. Summit Wireless is a founding member of WiSA, the Wireless Speaker and Audio Association and works in joint partnership to champion the most reliable interoperability standards across the audio industry. Summit Wireless, formerly named Summit Semiconductor, Inc., is headquartered in San Jose, CA with sales teams in Taiwan, China, Japan, and Korea. For more information about Summit Wireless Technologies, Inc., please visit: www.summitwireless.com.

* WiSA Ready TVs, gaming PCs and console systems are “ready” to transmit audio to WiSA Certified speakers when a WiSA USB Transmitter is plugged in and a user interface is activated through an APP or product design like LG TVs.

© 2021 Summit Wireless Technologies, Inc. All rights reserved. Summit Wireless Technologies and the Summit Wireless logo are trademarks of Summit Wireless Technologies, Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.

Safe Harbor Statement

This press release contains forward-looking statements, which are not historical facts, 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. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting Summit Wireless’ business including, current macroeconomic uncertainties associated with the COVID-19 pandemic, our ability to predict the timing of design wins entering production and the potential future revenue associated with our design wins; our rate of growth; our ability to predict customer demand for our existing and future products and to secure adequate manufacturing capacity; consumer demand conditions affecting our customer’s end markets; our ability to hire, retain and motivate employees; the effects of competition, including price competition; technological, regulatory and legal developments; developments in the economy and financial markets and other risks detailed from time to time in Summit Wireless’ filings with the Securities and Exchange Commission.