Peraso Inc. has provided an update on its strategic review process in response to Mobix Labs, Inc.'s unsolicited acquisition offer. Mobix Labs sent a revised proposal on September 4, 2025, suggesting a combination of cash and stock consideration. The proposal, however, did not include a confidentiality agreement, which Peraso has deemed necessary for sharing material non-public information. Following further communication, Peraso's Board of Directors has sanctioned a limited exploratory call with Mobix Labs to better understand their revised proposal, provided that no material non-public information is shared and no confidentiality agreement is signed. Peraso continues to evaluate proposals to enhance stockholder value and has engaged with multiple parties under customary mutual confidentiality agreements as part of its strategic review process.