Shimmick Corp

Shimmick Corporation (the “Company”) is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q (“Form 10-Q”) for the period ended June 28, 2024 (“Q2 2024”) within the prescribed timeframe as a result of settlement negotiations involving a Legacy Project. Specifically, the pending settlement of this claim is a subsequent event that affects the Company’s estimates for the period ended June 28, 2024. As a result, the Company is currently unable to file the Form 10-Q for Q2 2024. However, the Company expects to file the Form 10-Q within five calendar days of the prescribed filing date. Forward-Looking Statements This form contains forward-looking statements 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 (the “Exchange Act”). These forward-looking statements are often characterized by the use of words such as “may,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words. Forward-looking statements are only predictions based on our current expectations and our projections about future events, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances, including, but not limited to, unanticipated events, after the date on which such statement is made, unless otherwise required by law. Forward-looking statements contained in this release include, but are not limited to, statements about our expectations regarding settlement negotiations involving certain legacy projects and the corresponding accounting effects and the impact on the timing of our Quarterly Report on 10-Q

Shimmick Corporation (the “Company”) is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q (“Form 10-Q”) for the period ended March 29, 2024 (“Q1 2024”) within the prescribed timeframe as a result of ongoing negotiations with the lender under the Company’s Revolving Credit Facility Agreement (“Revolving Credit Facility”). Specifically, as result of the Company’s Q1 2024 financial results, the Company is no longer in compliance with the leverage covenant set forth in the Revolving Credit Facility (the “Default”). As a result of the Default, the lender has the right to declare all amounts outstanding immediately due and payable and terminate all commitments to extend further credit under the Revolving Credit Facility. As of March 29, 2024, there was approximately $32 million outstanding under the Revolving Credit Facility. To date, the lender has not exercised its right to accelerate repayment of the outstanding borrowings, and the Company is in the process of negotiating a waiver and amendment with the lender as well as pursuing alternative financing arrangements with other potential lenders. If the Company is unable to obtain a waiver or new financing arrangement or the lender exercises its right to accelerate repayment, it may impact the Company’s ability to continue as a going concern. In addition, if the lender exercises its right to accelerate repayment and the Company is unable to repay those amounts, the Company could be forced to curtail its operations, reorganize its capital structure (including through bankruptcy proceedings) or liquidate some or all of its assets in a manner that could adversely impact our business. Accordingly, the Company has been unable to complete its Q1 2024 Form 10-Q. However, the Company expects to file the Form 10-Q within five calendar days of the prescribed filing date