Raging Capital Urges Shareholders Not to Allow Mellanox to Capture All the Upside of EZchip in Proposed Merger - Seite 2

This is a great starting roster for NPS and the significance of this development would ordinarily justify the issuance by EZchip of a standalone press release just to brag about this news. Instead, in the face of a proxy contest threatening to derail the proposed merger, EZchip soft-pedaled the news by saying ". . . it is not clear what revenue these design wins will translate to or when." EZchip did not even mention this development in its third quarter earnings release. Do not be misled by EZchip – with this development, shareholders could leave even greater value on the table if the merger is approved!

In our view, EZchip is in the right place at the right time with leading edge technology. Cloud computing is exploding and we are only in the early innings of the break-out of white box networking, network function virtualization and software-defined networking. The NPS-400 is a unique and powerful Layers 2-7 chip targeting these opportunities. In essence, EZchip is positioned to "hollow out" the router in a revolutionary way that competitors cannot match. These design wins confirm this reality.

Now is not the time to sell EZchip. We believe the risk/reward is stacked heavily in favor of shareholders, and we are excited about EZchip's future potential. We encourage fellow shareholders to vote against the EZchip-Mellanox merger.

The Annual General Meeting of Shareholders of EZchip, scheduled to be held on November 12, 2015, is fast approaching. Raging Capital is urging all shareholders to vote to reject the merger and to elect its two highly-qualified director nominees – Paul K. McWilliams and Kenneth H. Traub – in an effort to prevent a value-destructive transaction and to help protect the interests of shareholders.

Instructions on how shareholders can vote AGAINST the merger and vote FOR Raging Capital's two highly-qualified director nominees can be found at www.EZCH-value.com.

Please sign, date and return the GOLD proxy card today.

Sincerely,

William C. Martin
Chairman and Chief Investment Officer
Raging Capital Management, LLC

IMPORTANT

Tell your Board what you think! Your vote is important. No matter how many Ordinary Shares you own, please give Raging Capital your proxy AGAINST the Merger and FOR the election of its two highly-qualified nominees by taking three steps:

• SIGNING the enclosed GOLD proxy card,
• DATING the enclosed GOLD proxy card, and
• MAILING the enclosed GOLD proxy card TODAY in the envelope provided (no postage is required if mailed in the United States).

If any of your Ordinary Shares are held in the name of a brokerage firm, bank, bank nominee or other institution, only it can vote such shares and only upon receipt of your specific instructions. Depending upon your broker or custodian, you may be able to vote either by toll-free telephone or by the Internet. Please refer to the enclosed proxy card for instructions on how to vote electronically. You may also vote by signing, dating and returning the enclosed GOLD proxy card.