LaFox, IL, October 2, 2023 – Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for renewable energy, is pleased to announce the issuance of U.S. Patent No. 11,764,002 (the “’002 Patent”). The ’002 Patent is a result of Richardson’s innovative technology using ultracapacitors embedded in its ULTRAGEN3000™ generator start module or GSM. The ULTRAGEN3000™ is a compact GSM designed for installation in any orientation, allowing flexible module placement within any generator set housing. The Company’s patented technology enables a true drop-in replacement for lead acid batteries in engine start applications without the need to rewire or procure additional components.

Ultracapacitor-based energy storage solutions have significantly enhanced reliability. Ultracapacitors, unlike batteries, provide dependable and consistent energy even in extreme temperatures, providing better reliability for critical applications such as backup generator systems. This new patent adds to the Company’s patented energy storage solutions portfolio and enhances growth opportunities within the Green Energy Solutions business segment.

“This patent is another important milestone toward our goal of strengthening our Company’s intellectual property portfolio. Our engineering team continues to design and develop unique products that surpass our customers’ expectations with cost-savings, reliability, and efficiency,” stated Richardson’s Greg Peloquin, Executive Vice-President Power and Microwave Technologies and Green Energy Solutions Groups.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All of our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics, Ltd. common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

About Richardson Electronics – Green Energy Solutions

Richardson Electronics Green Energy Solutions combines our key technology partners and engineered solutions capabilities to design and manufacture key products for the fast-growing energy storage market and power management applications. As a designer, manufacturer, technology partner and authorized distributor, GES’s strategy is to provide specialized technical expertise and engineered solutions using our core design engineering and manufacturing capabilities on a global basis. We provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair—all through our existing global infrastructure. GES’s focus is on products for numerous green energy applications such as wind, solar, hydrogen and electric vehicles, and other power management applications that support green solutions such as synthetic diamond manufacturing. For more information, visit us at: https://www.rell.com/business-units/green-energy-solutions/.

LaFox, IL | September 18, 2023 – Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for the green energy, power management, custom display, and healthcare markets, announced today that it will be presenting at the LD Micro Invitational XVI being held at the Luxe Sunset Boulevard Hotel on Tuesday, October 3, 2023, at 10:30 A.M. PT / 1:30 P.M. ET. Edward J. Richardson, Chairman and CEO of Richardson Electronics, Ltd., will provide a formal presentation on the Company’s FY23 performance and discuss upcoming opportunities within its Green Energy Solutions business unit as well as answering questions from investors. The presentation will be streamed live at https://me23.sequireevents.com/.

Management will also host 1×1 meetings at the conference on October 3 and October 4.  Interested investors can contact LD Micro to schedule meetings with Richardon Electronics.

About LD Micro (NASDAQ: SRAX)

LD Micro, a wholly owned subsidiary of Freedom US Markets, was founded in 2006 with the sole purpose of being an independent resource in the micro-cap space. Through the LD Micro Index and annual investor conferences, LD has served as an invaluable asset to all those interested in discovering the next generation of great companies. For more information on LD Micro, visit www.ldmicro.com.http://www.ldmicro.com

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All of our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics, Ltd. common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

Forward-Looking Statements

This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business that are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K filed on July 31, 2023, and other reports we file with the Securities and Exchange Commission. The Company assumes no responsibility to update the “forward-looking” statements in this release as a result of new information, future events or otherwise.

LaFox, IL, September 6, 2023 – Richardson Electronics, Ltd. (NASDAQ: RELL) is introducing its new line of push-fit nozzles, F-Style nozzles with chrome plated tip, a new series of bellows with laminated covers for use in Bystronic^®* fiber lasers, and new protective windows for use in machines from leading fiber laser brands.

This new lineup features the following:

• Our new line of push-fit nozzles includes the Classic style made of high-quality copper and the Precision style made of brass. This new line includes nozzles for use in Bystronic^® Fiber Laser machines with automatic nozzle changer.
• The new F-Style nozzle series with chrome plated tip offers better performance and wear resistance when cutting materials where the standard copper or brass nozzles lag, due to spatters and thermal effects.
• Our new series of bellows for use in the Bystronic® ByStar fiber lasers includes the X-axis bellows with flexible stainless steel laminated covers that protect them from sparks and reduce their wear and tear.
• We added more protective windows and fiber laser lenses that are a high-quality cost-effective aftermarket alternative for use in lasers of up to 20 KW, including TRUMPF^®*, Bystronic^®*, BLM^®*, Precitec^®* and other leading laser brands. Among our newest protective windows is the 34 x 3 mm Sapphire protective window used in high-power Bystronic^®

Richardson Electronics is your one-stop shop for your fiber and CO₂ laser needs. We carry local stock in the US and Europe for prompt delivery to help reduce downtime and drive down the cost of ownership of your laser. For more information on these new products and our extensive line of laser consumables, visit our website at www.rellaser.com

The Richardson Electronics team will be displaying these new products and much more at the FABTECH 2023 show at McCormick Place in Chicago, IL from September 11^th – 14^th, 2023.  Visit us at booth A3315.

*All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of the trademarks is solely for identification purposes and does not imply any affiliation with or endorsement by the trademark holders. All parts advertised are made for and/or by Richardson Electronics, Ltd. We are not implying in any way that our products are original equipment parts.

About Richardson Electronics – Power & Microwave Technologies

For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world’s most innovative technology partners. Richardson Electronics’ Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at www.rellpower.com.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world.  All our partners manufacture to our strict specifications and adhere to our supplier terms and conditions.  We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

LaFox, IL – August 14, 2023 – Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for the green energy, power management, custom display, and healthcare markets, today announced Edward J. Richardson, Chief Executive Officer, will present at the Midwest IDEAS Investor Conference on Wednesday, August 23, 2023, at The Gwen in Chicago, IL. Richardson Electronics’ presentation is scheduled to begin at 1:20 P.M. CT. The presentation will be webcast and can be accessed through the conference host’s main website: https://www.threepartadvisors.com/midwest and in the investor relations section of the Company’s website: Investor Relations | Financial News | Richardson Electronics (rell.com).

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. Nearly 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All of our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics, Ltd. common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

About IDEAS Investor Conferences

The mission of the IDEAS Conferences is to provide independent regional venues for quality companies to present their investment merits to an influential audience of investment professionals.  Unlike traditional bank-sponsored events, IDEAS Investor Conferences are “SPONSORED BY INVESTORS. FOR INVESTORS.” and for the benefit of regional investment communities.  Conference sponsors collectively have more than $200 billion in assets under management and include: 1102 Partners, Adirondack Research and Management, Allianz Global Investors: NFJ Investment Group, Ariel Investments, Aristotle Capital Boston, Ascend Wealth Advisors, Barrow Hanley Mewhinney & Strauss, BMO Global Asset Management, Constitution Research & Management, Inc., Diamond Hill, First Wilshire Securities Management, Inc., Granahan Investment Management, Great Lakes Advisors, Greenbrier Partners Capital Management, LLC, Hodges Capital Management, Ironwood Investment Management, Keeley Teton Advisors, Luther King Capital Management, Marble Harbor Investment Counsel, North Star Investment Management, Perritt Capital Management, Punch & Associates, Shepherd Kaplan Krochuk, Westwood Holdings Group, Inc., and William Harris Investors.

The IDEAS Investor Conferences are held annually and are produced by Three Part Advisors, LLC.  Additional information about the events can be located at www.IDEASconferences.com.

If interested in participating or learning more about the IDEAS conferences, please contact Lacey Wesley at (817) 769 -2373 or lWesley@IDEASconferences.com.

Forward-Looking Statements

This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business that are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K filed on July 31, 2023, and other reports we file with the Securities and Exchange Commission. The Company assumes no responsibility to update the “forward-looking” statements in this release as a result of new information, future events or otherwise.

LaFox, IL | July 24, 2023 – Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for the green energy, power management, custom display and healthcare markets, announced today the completion of recent upgrades to its LaFox, IL Headquarters after investing several million dollars to expand its design, manufacturing and test capabilities and capacity. The expansion adds more than 16,000 square feet of manufacturing space and will serve as a showcase for the Company’s Green Energy Solutions (“GES”) production.

“We continue to add new, innovative products to support global green energy markets including wind, solar, electric vehicles, and other green power management applications such as lab grown diamonds. Post-COVID, we did not mandate a return to the office for many of our employees. This left us with excess administrative space, which we converted to a state-of-the-art manufacturing floor to support the growth of our GES business unit. We are extremely excited by the long-term potential of our GES business, as sales from this segment have increased 110.5% from $22.6 million in FY22, to $47.6 million in FY23,” said Edward J. Richardson, Richardson Electronics Chief Executive Officer.

Richardson Electronics will manufacture its patented ULTRA3000^® and ULTRAPEM™ multi-brand Pitch Energy Modules; the patent-pending ULTRAUPS3000™, designed to replace lead-acid batteries in wind turbine generators and other power management applications; battery start modules for numerous applications including EV locomotives; and other products in the expanded area. Total manufacturing space in LaFox is now 160,000 square feet.

The Company plans to host an open house and presentation for investors on August 22, 2023, to showcase its products and upgraded facilities. To request an invitation, contact stefanie@smberger.com.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All of our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics, Ltd. common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

About Richardson Electronics – Green Energy Solutions

Richardson Electronics Green Energy Solutions combines our key technology partners and engineered solutions capabilities to design and manufacture key products for the fast-growing energy storage market and power management applications. As a designer, manufacturer, technology partner and authorized distributor, GES’s strategy is to provide specialized technical expertise and engineered solutions using our core design engineering and manufacturing capabilities on a global basis. We provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair—all through our existing global infrastructure. GES’s focus is on products for numerous green energy applications such as wind, solar, hydrogen and electric vehicles, and other power management applications that support green solutions such as synthetic diamond manufacturing. For more information, visit us at: https://www.rell.com/business-units/green-energy-solutions/

Forward-Looking Statements

This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business that are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K filed on August 1, 2022, and other reports we file with the Securities and Exchange Commission. The Company assumes no responsibility to update the “forward-looking” statements in this release as a result of new information, future events or otherwise.

Green Energy Solutions net sales increase 61.7% over Q4 FY22 and 110.5% over Fiscal 2022

Fiscal 2023 Highlights

• For fiscal 2023, net sales increased 16.9% to $262.7 million.
• Operating income was $25.0 million for fiscal 2023, compared to $16.0 million for fiscal 2022.
• An income tax expense of $2.7 million and Non-GAAP income tax expense* of $5.0 million for fiscal 2023. The income tax expense was reduced by a one-time $1.8 million reversal of the foreign tax credit valuation allowance and total R&D Tax Credits of $0.9 million for fiscal years 2020 through 2023, which included a one-time total of $0.6 million related to fiscal years 2020 through 2022.
• Earnings per common share (diluted) were $1.55 and Non-GAAP earnings per common share (diluted)* were $1.39 for fiscal 2023 compared to earnings per common share (diluted) of $1.31 and Non-GAAP earnings per common share (diluted) of $1.02 for fiscal 2022.
• Cash and investments were $25.0 million as of May 27, 2023, versus $24.6 million on February 25, 2023 and $40.5 million on May 28, 2022. The use of cash in fiscal 2023 was primarily due to higher working capital to support the Company’s growth initiatives.

Read full press release

LAFOX, Ill., July 12, 2023 (GLOBE NEWSWIRE) — Richardson Electronics, Ltd. (NASDAQ: RELL) plans to release its financial results for its fourth quarter ended May 27, 2023 after the close of business on Wednesday, July 19, 2023. The release will be distributed by GlobeNewswire and will be available on the Company’s website at www.rell.com.

On Thursday, July 20, 2023, at 9:00 a.m. Central Time, Edward J. Richardson, Chairman and Chief Executive Officer, and Robert J. Ben, Chief Financial Officer, will host a conference call to discuss the Company’s fourth quarter and fiscal year 2023 results. A question-and-answer session will be included as part of the call’s agenda.

Participant Instructions

Participants may register for the call here.  While not required, it is recommended you join 10 minutes prior to the event start.  A replay of the call will be available beginning at 1:00 p.m. Central Time on July 20, 2023, for seven days. Registration instructions are also on our website at www.rell.com.

In addition, the webcast link is available here.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. Nearly 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world.  All our partners manufacture to our strict specifications and per our supplier code of conduct.  We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

LaFox, IL | June 5, 2023 – Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for the green energy, power management, custom display and healthcare markets, announced today that it will be presenting at the TD Cowen Sustainability Week Investor Conference. Edward J. Richardson, Chairman and CEO of Richardson Electronics, will be hosting a fireside chat on Friday, June 9 at 1:10 p.m. ET / 12:10 p.m. CT.

TD Cowen’s Sustainability Week assembles over 150 leading companies, policy makers, ESG- and sustainability-focused investors, and stakeholders in companies focused on sustainable industries for a week of company presentations, fireside chats and panels, prominent keynote speakers, and topical bootcamps.

Richardson Electronics will provide an overview on its growth initiatives including its green energy products for wind and solar, as well as other power management solutions for electric locomotives and electric vehicles and magnetrons used in synthetic diamond and hydrogen manufacturing.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All of our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets.  The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities.  The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics, Ltd. common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

Forward-Looking Statements

This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission.  Statements in this press release regarding the Company’s business that are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K filed on August 1, 2022, and other reports we file with the Securities and Exchange Commission. The Company assumes no responsibility to update the “forward-looking” statements in this release as a result of new information, future events or otherwise.

LaFox, IL, May 24, 2023 – Richardson Electronics, Ltd. (Nasdaq: RELL) announced today that its ULTRA3000^® Pitch Energy Module (PEM) has been selected by GE Vernova to be featured on their recently launched online marketplace for onshore wind parts and essentials. GE’s marketplace specializes in onshore wind turbine parts, including parts for other OEM wind turbines. Richardson Electronics has worked with GE to make this product available to the owner/operators of GE wind turbines in North America.

The marketplace will feature key products for wind turbines from world-leading technology companies including Richardson Electronics’ ULTRA3000^® and will be the go-to web site for GE wind turbine owner/operators. With more than 100,000 items available for purchase supporting both GE and other OEM onshore wind turbines, the store will enable wind farm owners to purchase all the spare parts and wind farm essentials they need in one simple transaction.

Richardson Electronics’ ULTRA3000^® is a drop-in replacement for lead acid batteries used in electric pitch systems. With its true plug-and-play technology, owners can replace one battery at a time on an as needed basis or retrofit the entire pitch system. With over 37,000 PEMs installed, Richardson Electronics’ ULTRA3000^® has become the GE owner/operators’ number one choice for ultracapacitor based pitch systems. With the increased reliability of ultracapacitors over lead acid batteries, owners can reduce nuisance battery faults and increase wind turbine availability.

“We are very excited about the new agreement with GE. We are enjoying huge success with the ULTRA3000^® PEM and this agreement will nearly double our served available market in North America. We look forward to working with GE to bring this product and others to an expanded market. As we expand our portfolio of products designed to support wind turbine customers, we will work with GE as a partner,” said Greg Peloquin, Executive Vice President and General Manager Power Microwave and Green Energy Solutions Group.

GE Vernova announced at the CLEANPOWER Conference that it’s expanded Onshore Wind Online Shop also helps customers to improve cashflow, with flexible credit options, digital invoicing, and the ability to purchase from multiple suppliers all in one location with a single purchase order. To register and learn more, please visit: shop.gerenewableenergy.com.

The Richardson Electronics’ team will be exhibiting in booth (#813) at the CLEANPOWER Conference and Exhibition through May 25, at the Ernest N. Morial Convention Center in New Orleans, Louisiana. The Company’s patented ultracapacitor-based pitch energy module, the ULTRA3000^®, will also be on display.

About Richardson Electronics – Green Energy Solutions

Richardson Electronics Green Energy Solutions combines our key technology partners and engineered solutions capabilities to design and manufacture key products for the fast-growing energy storage market and power management applications. As a designer, manufacturer, technology partner and authorized distributor, GES’s strategy is to provide specialized technical expertise and engineered solutions using our core design engineering and manufacturing capabilities on a global basis. We provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair—all through our existing global infrastructure. GES’s focus is on products for numerous green energy applications such as wind, solar, hydrogen and electric vehicles, and other power management applications that support green solutions such as synthetic diamond manufacturing. For more information, visit our webpage.

About Richardson Electronics – Power & Microwave Technologies

For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world’s most innovative technology partners. Richardson Electronics’ Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at www.rellpower.com.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world.  All our partners manufacture to our strict specifications and adhere to our supplier terms and conditions.  We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

LaFox, IL, May 23, 2023:  Richardson Electronics, Ltd. (NASDAQ: RELL) is set to join the broad-market Russell 3000^® Index at the conclusion of the 2023 Russell indexes 35^th annual reconstitution, effective after the U.S. market opens on Monday, June 26, 2023, according to a preliminary list of additions posted May 19.

Ed Richardson, Chairman and Chief Executive Officer states, “Richardson Electronics’ inclusion in the 2023 Russell 3000^® index reflects the success of our strategic plan and the commitment of our employees throughout the world.  Over the past 12 months, we have produced significant revenue and earnings growth as we capitalize on new market opportunities and execute against our key growth initiatives.  An important driver of our accomplishments is the progress we are making growing our Green Energy Solutions (“GES”) business to support an expanding list of alternative energy, electric vehicles, and green manufacturing customers.  The addition of Richardson Electronics into the Russell 3000^® Index marks a significant milestone in our journey, and we remain committed to creating long-term value for our shareholders.”

Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of April 28, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^Ò Index or small-cap Russell 2000^Ò 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 $12.1 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 3000^® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

ABOUT RICHARDSON ELECTRONICS, LTD.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All of our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets.  The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities.  The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics, Ltd. common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

ABOUT FTSE RUSSELL

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20.1 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

FORWARD-LOOKING STATEMENTS

This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission.  Statements in this press release regarding the Company’s business that are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K filed on August 1, 2022, and other reports we file with the Securities and Exchange Commission.  The Company assumes no responsibility to update the “forward-looking” statements in this release as a result of new information, future events or otherwise.