Wolfson Microelectronics plc:

Results for the quarter ended 28 September 2008

Monday, October 27, 2008

Wolfson Microelectronics plc (“Wolfson” or “the Company”), a leading supplier of mixedsignal
semiconductors for consumer electronic products, announces its financial results for the
third quarter ended 28 September 2008.

Third quarter financial highlights:

Revenue of $60.5m (Q3 2007: $70.4m)
Gross margin of 50.1% (Q3 2007: 52.6%) impacted by stock provisions and re-test costs
Adjusted operating profit* of $9.1m (Q3 2007: $14.5m)
Operating profit of $5.0m (Q3 2007: $13.7m)
Adjusted fully diluted earnings per share** of 5.8 cents (Q3 2007: 9.4 cents)
Diluted earnings per share of 3.3 cents (Q3 2007: 8.8 cents)
Staffing levels reduced from Q2 2008; annualised cost reduction estimated to be at least $4.0m
Net cash inflow from operations of $10.0m (Q3 2007: $11.5m)
Net cash balance at 28 September 2008 of $88.8m

Third quarter operational highlights:

Strong growth in mobile handsets, revenue up 138% on Q3 2007
On-going Tier 1 design win momentum across multiple market segments
Encouraging results from sampling of first Ambient Noise Cancellation (ANC) technology specifically designed for mobile phones
Launched first TrueMic high-performance ultra-compact silicon microphone, on 20 October 2008
Mike Hickey appointed CEO designate
Glenn Collinson appointed to board as non-executive director

Outlook

Since the trading update on 2 October, the market environment has continued to weaken and Wolfson has experienced a further broad based deterioration in order intake and rescheduling of orders.
Based on the information currently available, Wolfson therefore now expects Q4 2008 revenue to be in the range $35m-$45m, resulting in anticipated full year 2008 revenue in the range of $196m-$206m
Fourth quarter and full year gross margin expected to be around 51%

*Adjusted operating profit excludes the impact of acquired intangible asset amortisation, and the non
recurring item of $2.9m
** Adjusted fully diluted earnings per share represents the profit after tax, adding back amortisation of
acquired intangible assets, and the non recurring item of $2.9m, both net of the estimated tax impact of
such costs, divided by the number of diluted shares in issue

Commenting on the results Dave Shrigley, Chief Executive Officer of Wolfson, said: “Against a
backdrop of difficult market conditions our third quarter revenue performance was in line with
guidance. This result reflects the strength of our wide product portfolio and increasing
penetration of the multimedia handset market. Furthermore, the Company’s AudioPlus™
growth strategy is moving into the next phase, as the first products incorporating the
technologies acquired last year enter the marketplace.

However, Wolfson continues to be affected by the unprecedented uncertainty surrounding
global consumer confidence, leading customers across a broad range of applications to further
scale back their orders to volumes well below normal seasonal patterns. In response we are
continuing to control costs tightly to mitigate the impact on margins and maintain cash
generation. With a strong market position, a robust balance sheet and a business strategy aimed
at significantly expanding our addressable market, we remain well placed to return to growth
when market conditions improve.”

Enquiries:
Wolfson Microelectronics

Dave Shrigley, Chief Executive
On the day: 020 7977 0020

Mark Cubitt, Finance Director
Thereafter: 0131 272 7000