Second Quarter Fiscal 2012 Business and Financial Highlights

• Quarterly revenue of $56.2 million; non-GAAP customer licensing income of $57.4 million
• Quarterly GAAP diluted loss per share of $0.29; non-GAAP diluted loss per share of $0.01
• Signed solutions license agreement with Cooper Lighting for the use of Rambus' patented lighting innovations

SUNNYVALE, Calif. — (BUSINESS WIRE) — July 19, 2012 — Rambus Inc. (NASDAQ: RMBS), one of the world’s premier technology licensing companies, today reported financial results for the second quarter ended June 30, 2012.

GAAP Financial Results:

Revenue for the second quarter of 2012 was $56.2 million, down 11% sequentially from the first quarter of 2012. This quarter-over-quarter decline was primarily due to recognition of one-time royalty revenue during the first quarter of 2012 from a licensing agreement with MediaTek and lower royalties reported by certain other licensees in the semiconductor industry. This decline was partially offset by the first quarterly royalty payment from Broadcom during the second quarter of 2012. As compared to the second quarter of 2011, revenue was down 15% primarily due to the decrease in contract revenue, lower royalties reported by certain licensees and expiration of a patent license agreement. The decreased revenue for the second quarter of 2012 as compared to the prior year period was partially offset by revenue recognized from various new patent license agreements signed in the second half of 2011 as well as revenue from certain patent license agreements resulting from the acquisition of Cryptography Research Inc. (CRI).

Revenue for the six months ended June 30, 2012 was $119.1 million, down 8% over the same period of last year, for the same reasons as discussed above.

Total operating costs and expenses for the second quarter of 2012 were $78.0 million, which included general litigation expenses of $4.5 million, $6.2 million of stock-based compensation expenses and $13.4 million of acquisition-related deal costs, retention bonuses and amortization expenses for business acquisitions. This is compared to total operating costs and expenses for the first quarter of 2012 of $80.4 million, which included general litigation expenses of $4.1 million, $6.7 million of stock-based compensation expenses and $14.9 million of acquisition-related deal costs, retention bonuses and amortization expenses for business acquisitions. Total operating costs and expenses for the second quarter of 2011 were $68.7 million, which included general litigation expenses of $11.5 million, $7.0 million of stock-based compensation expenses and $8.4 million related to acquisition-related deal costs, retention bonuses and amortization expenses.

Total operating costs and expenses for the six months ended June 30, 2012 were $158.4 million, which included $12.9 million of stock-based compensation expenses and $28.4 million of acquisition-related deal costs, retention bonuses and amortization expenses for business acquisitions. This is compared to total operating costs and expenses for the six months ended June 30, 2011 of $122.9 million, which included a $6.2 million gain related to the Samsung settlement, $14.3 million of stock-based compensation expenses and $8.4 million of acquisition-related deal costs, retention bonuses and amortization expenses for business acquisitions for the same period of 2011. General litigation expenses for the six months ended June 30, 2012 were $8.6 million, a decrease of $12.1 million from the same period in 2011. The change in total operating costs and expenses was primarily attributable to higher acquisition-related deal costs, retention bonuses and amortization expenses for business acquisitions, partially offset by lower general litigation expenses.

Net loss for the second quarter of 2012 was $32.2 million as compared to net loss of $27.9 million in the first quarter of 2012 and net loss of $10.6 million in the second quarter of 2011. Diluted net loss per share for the second quarter of 2012 was $0.29 as compared to diluted net loss per share of $0.25 in the first quarter of 2012 and diluted net loss per share of $0.10 in the second quarter of 2011.

Net loss for the six months ended June 30, 2012 was $60.1 million as compared to a net loss of $14.8 million for the same period of 2011. Diluted net loss per share for the six months ended June 30, 2012 was $0.54 as compared to a diluted net loss per share of $0.14 for the same period of 2011.

Non-GAAP Financial Results (1):

Customer licensing income in the second quarter of 2012 was $57.4 million, down 12% sequentially from the first quarter of 2012 for the reasons set out in the Company’s discussion of GAAP financial results above. As compared to the second quarter of 2011, customer licensing income was down 21% due to several factors, including lower royalties reported by certain licensees and expiration of a patent license agreement in the second quarter of 2011. In addition, a one-time receipt of a patent royalty payment from a customer in the second quarter of 2011 was not recognized as revenue as not all revenue recognition criteria were met during the period. This was partially offset by revenue recognized from various new patent license agreements signed in the second half of 2011 and revenue from patent license agreements resulting from the acquisition of CRI. Customer licensing income for the six months ended June 30, 2012 was $122.7 million as compared to $141.7 million in the same period of 2011 for the same reasons.