Netlist (NLST) Secures Order Finalizing $303M Damages Award Against Samsung

-Denial of Samsung's Post-Trial Motions Concludes Trial Process-

Netlist, Inc. (OTCQB: NLST) today announced the denial of Samsung's post-trial motions in the case of Netlist v. Samsung Electronics Co. Ltd. et al. (EDTX Case No. 2:21-cv-00463-JRG) in the United States District Court for the Eastern District of Texas ("the Court").

The Court's Memorandum Opinion and Order, denying post-trial motions, combined with the Final Judgment, entered in August 2023 bring this case to a close in the District Court. The Court has upheld the jury's verdict and damages award in the April 2023 trial and confirmed that Samsung willfully infringed Netlist's patented technologies and that none of the asserted claims are invalid. Netlist's patents in the April trial cover both high bandwidth memory or HBM and DDR5 memory that are foundational to generative artificial intelligence ("AI") computing. The $303,150,000 award was granted as a reasonable royalty for Samsung's infringement of Netlist's patents for a limited past damages period.

C.K. Hong, Netlist's Chief Executive Officer, said, "This court order reaffirms Samsung's willful infringement, the jury's finding of validity and the reasonableness of the jury's damages award. We believe the value of Netlist's technology will continue to grow due to its importance to the enablement of AI."

Additional information about Netlist, Inc. v. Samsung Electronics Co. Ltd. et al. EDTX Case No. 2:21-cv-00463-JRG is available through the Public Access to Court Electronic Records (PACER) service.

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