4DS MEMORY LIMITED — Investor Presentation 2018

Aug 28, 2018

4DS Memory Limited | ABN 43 145 590 110 Level 2, 50 Kings Park Road, West Perth WA 6005 PO Box 271, West Perth WA 6872

+61 8 6377 8043 | david@4dsmemory.com | www.4dsmemory.com

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ASX RELEASE

28 August 2018

Replacement USA Marketing Presentation – August 2018

4DS Memory Limited (ASX:4DS) ( 4DS ) (the Company ), advises that it has removed slide 12 from the presentation that was released to ASX yesterday, 28 August 2018 ( Slide 12 ).

Slide 12 intended to show that 4DS is targeting a share of the Storage Class Memory market, which is a market that is expected to be of a similar size to the existing System Memory or Silicon Storage markets.

Slide 12 has been removed to avoid any possible interpretation that 4DS itself is expecting to generate yearly revenues equal to the entire current size if the System Memory or Silicon Storage markets.

ENDS

Contact information

Investors: David McAuliffe 4DS Memory +61 408 994 313 david@4dsmemory.com

About 4DS

4DS Memory Limited (ASX: 4DS), with facilities located in Silicon Valley, is a semiconductor development company of non-volatile memory technology, pioneering Interface Switching ReRAM (Non-Filamentary ReRAM), for next generation gigabyte Storage Class Memory. Established in 2007, 4DS owns a patented IP portfolio, comprising 20 granted US patents and 3 patents pending, which has been developed in-house to create high density Storage Class Memory. 4DS has a joint development agreement with Western Digital subsidiary HGST, a global storage leader, which accelerates the evolution of 4DS’ technology. 4DS also collaborates with imec, the world’s #1 independent semiconductor development institute.

For more information, please visit www.4dsmemory.com.

Disclaimer

This release contains certain forward looking statements that are based on the Company’s management’s beliefs, assumptions and expectations and on information currently available to management. Such forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results or performance of 4DS to be materially different from the results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the political and economic environment in which 4DS will operate in the future, which are subject to change without notice. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast. To the full extent permitted by law, 4DS and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions to information to reflect any change in any of the information contained in this release (including, but not limited to, any assumptions or expectations set out in the release).

You should not place undue reliance on these forward- looking statements. Except as required by law or regulation (including the ASX Listing Rules) we undertake no obligation to update these forward- looking statements.

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A DISRUPTIVE TECHNOLOGY FOR STORAGE CLASS MEMORY August 2018 - USA Marketing Roadshow

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DISCLAIMER IMPORTANT NOTICE:

This presentation has been prepared by 4DS Memory Limited. (“4DS” or the “Company”) based on information available to it as at the date of this presentation. The information in this presentation is provided in summary form and does not contain all information necessary to make an investment decision.

This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in 4DS, nor does it constitute financial product advice or take into account any individual’s investment objectives, taxation situation, financial situation or needs. An investor must not act on the basis of any matter contained in this presentation but must make its own assessment of 4DS and conduct its own investigations. Before making an investment decision, investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. 4DS is not licensed to provide financial product advice in respect of its securities or any other financial products. Cooling off rights do not apply to the acquisition of 4DS securities.

Although reasonable care has been taken to ensure that the facts stated in this presentation are accurate and that the opinions expressed are fair and reasonable, no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of 4DS, its officers, directors, employees and agents, nor any other person, accepts any responsibility and liability for the content of this presentation including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of or reliance on any of the information contained in this presentation or otherwise arising in connection with it.

Forward looking statements

This presentation contains certain forward looking statements that are based on the Company’s management’s beliefs, assumptions and expectations and on information currently available to management. Such forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results or performance of 4DS to be materially different from the results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the political and economic environment in which 4DS will operate in the future, which are subject to change without notice. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast.

To the full extent permitted by law, 4DS and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions to information to reflect any change in any of the information contained in this presentation (including, but not limited to, any assumptions or expectations set out in the presentation).

The information presented in this presentation is subject to change without notice and 4DS does not have any responsibility or obligation to inform you of any matter arising or coming to their notice, after the date of this presentation, which may affect any matter referred to in this presentation.

The distribution of this presentation may be restricted by law and you should observe any such restrictions.

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MEMORY / STORAGE OPPORTUNITY SPACE

Super low power or super fast

Limited or massive amounts of data

Retrieve data locally or from the cloud

Retain results locally or stream into the cloud

Must not fail in high temperature environment or when moving (automotive)

Price-sensitive applications (consumer devices)

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3 DISTINCT MEMORY / STORAGE CLASSES

CLASSES
Requirements	Internet-of-things	Embedded on SOC	High density / High volume
Cost	Lowchipcost	Lower than SRAM	Lowbitcost
Bit capacity	Low	Higher than SRAM	High and higher
Power	Lowchippower	Lower than SRAM
Speed	Low	Fast	Best = DRAM
Retention	Medium	High	Best = NAND Flash

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4DS FOCUSED ON HIGH DENSITY / HIGH VOLUME

Requirements	Internet-of-things	Embedded on SOC	High density / High volume
Cost	Lowchipcost	Lower than SRAM	Lowbitcost
Bit capacity	Low	Higher than SRAM	High and higher
Power	Lowchippower	Lower than SRAM
Speed	Low	Fast	Best = DRAM
Retention	Medium	High	Best = NAND Flash

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© 4DS Memory •. Confidential

CURRENT HIGH DENSITY / HIGH VOLUME LEADERS

Use	Leader	Yearly volume (in gigabytes)	2017 revenue (by chip makers)*	$ per gigabyte
System Memory	DRAM	11.5 billion	US$ 72.1 billion	US$ 6.27
Silicon Storage	NAND Flash	175.7 billion	US$ 53.7 billion	US$ 0.30

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*2017 Source Gartner

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© 4DS Memory •. Confidential

HIGH DENSITY / HIGH VOLUME MEMORY / STORAGE

	DRAM System Memory	NAND Flash Silicon Storage
Cost	Highest 100 times more than HDD	High 10 times more than HDD
Cycling Endurance	Highest 1012 times higher than SSD	Lowest 103
Data Retention	Lowest 0.1 sec	Medium 109 times longer than DRAM
Random Access Read Speed	Fastest	Slow 20 to 200 times slower than DRAM
Bit Capacity	Lowest (2D only)	High (3D stacking)
Power Consumption	Highest	Lowest

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“UNIVERSAL MEMORY” MAY NEVER EXIST

DRAM System Memory NAND Flash Silicon Storage	DRAM System Memory NAND Flash Silicon Storage	DRAM System Memory NAND Flash Silicon Storage
Highest 100 times more than HDD Cost High 10 times more than HDD
Cycling Endurance Data Retention Highest 1012 times higher than SSD Lowest 0.1 sec Lowest 103 Medium 109 times longer than DRAM	Highest 1012 times higher than SSD	Lowest 103
Random Access Read Speed	Fastest	Slow 20 to 200 times slower than DRAM
Bit Capacity Power Consumption Lowest Lowest (2D only) Highest High (3D stacking)

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VAST SPACE BETWEEN DRAM MEMORY & NAND FLASH STORAGE

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Endurance
DRAM
10 [12]
9 orders of magnitude
NAND
Flash
10 [3]
Retention
<100ns 9 orders of magnitude 10 years
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STORAGE CLASS MEMORY (SCM)

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Endurance
DRAM
10 [12]
9 orders of magnitude Storage
Class
Memory
NAND
Flash
10 [3]
Retention
<100ns 9 orders of magnitude 10 years
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4DS AIMING FOR SPACE CLOSE TO DRAM – BIGGEST OPPORTUNITY

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Direct Access Read Speed
DRAM
≈ 50ns
Storage Class
Memory
NAND
Flash
1 to 10µs
Retention
<100ns 9 orders of magnitude 10 years
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STORAGE CLASS MEMORY REQUIREMENTS

Requirements

• Based on well understood physics (like DRAM and NAND Flash)

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• Scalable technology over many generations (like DRAM and NAND Flash)

• Tunable technology in the vast space between DRAM and NAND Flash

• Capable of speed as close as possible to DRAM

• Capable of cost/retention as close as possible to NAND Flash

• Current priority is DRAM-like read speed over NAND Flash-like retention

• General consensus is that Storage Class Memory must be area-based ReRAM (non filamentary)

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STORAGE CLASS	STORAGE CLASS
MEMORY
REQUIREMENTS
4DS	Requirements
✓	• Based onwell understood physics(like DRAM and NAND Flash)
✓	• Scalable technology overmany generations(like DRAM and NAND Flash)
✓	•Tunabletechnology in the vast space between DRAM and NAND Flash
✓	• Capable ofspeedas close as possible to DRAM
✓	• Capable ofcost/retentionas close as possible to NAND Flash
✓	• Current priority isDRAM-like read speedover NAND Flash-like retention
✓	• General consensus is that Storage Class Memory must bearea-basedReRAM (non filamentary)

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HIGH DENSITY / HIGH VOLUME SWEET SPOTS

Memories	Systems Memory	Silicon Storage	Storage Class Memory (close to DRAM read speed)
DRAM
NAND Flash
MRAM
Filamentary ReRAM
Phase Change ReRAM
Interface Switching ReRAM			4DS

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STORAGE CLASS MEMORY: A DISRUPTIVE TECHNOLOGY

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Opportunity to offer:

Faster systems

Consuming less power

Capable of processing more data

In a more cost-effective way

Critical for the fastest growing segments: Cloud and Mobile

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ABOUT 4DS

Founded in 2008

Publicly traded on Australian Stock Exchange (ASX Code : 4DS)

964 million shares on issue / 122 million unlisted options / Market Cap fully diluted at A$0.11.5 = US$90 mil* All technology developed in-house All R&D in Silicon Valley

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20 US patents granted + several pending

JDA with HGST (subsidiary of Western Digital – US$ 20 billion Market Cap) since July 2014 Gives us insight into what is really important in a data-centric world

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• As of 23[rd] August 2018

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COLLABORATION AGREEMENT

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Jointly develop a transferrable production ready process

For state-of-the-art high volume / high density production tools

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Apply this process on imec’s proven megabit memory platform

To fabricate a megabit 4DS Interface Switching chip

On same wafer size used for high volume production (300mm)

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WHY IMEC?

1 independent semiconductor research & development institute

Collaborates with the who’s who of electronic products & systems Collaborates with the who’s who of high volume / high density memories Has excellent track record in transfer of semiconductor process from “lab” to ”fab” Uses same tools as industry for high volume production of high density memories Uses same wafer size (300mm = 12”) as industry uses for volume production Long track record in research & development of emerging memories

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Has a proven megabit memory platform Has used this platform to explore a wide range of emerging memories

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4DS INTERFACE SWITCHING RERAM

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CURRENT STATUS

Scales to geometries needed for high-density and 3D: 40nm

Endurance yield > 97%

Read speed comparable to DRAM: an area-based ReRAM first

No need for speed-crippling error correction: a ReRAM first

Endurance between DRAM and NAND Flash

Retention between DRAM and NAND Flash

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imec wafers from production equipment due late September 2018

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BOARD AND MANAGEMENT

Global expertise founding and building high-tech companies.

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Last transaction was the sale of Bill Me Later – a company Jim founded and sold to PayPal for US$1 billion

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JIM DORRIAN

Non-Executive Chairman

Served as CEO of several Silicon Valley companies Extensive M&A experience

Partner at VC firm Crosspoint Venture Partners

Dr SESHUBABU DESU

Chief Technology Officer

Expert in thin films, semiconductor processing and non-volatile memories

Professor, Dean and Head of Electrical Engineering at various universities

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Dr GUIDO ARNOUT CEO & Managing Director

30+ years in commercialising electronics technology

Successes include, PowerEscape, CoWare, CrossCheck Technology and Silvar-Liso

DAVID McAULIFFE

Executive Director

Experienced company director

Involved in numerous capital raisings and in-licensing of technologies

Founder of several companies in Australia, France and the UK, many of which are now ASX listed

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HOWARD DIGBY

Non-Executive Director

Former senior roles at IBM, Adobe, Gartner and the Economist Group

Non-Executive Director Elsight Ltd and Chairman of Omni Market Ltd

Advisor to a number of early stage technology companies

MICHAEL VAN BUSKIRK

Chief Engineering Officer

Executive roles with a number of leading memory companies in Silicon Valley

These include, Adesto Technologies Corporation, Innovative Silicon Inc and Spansion Inc.

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THANK YOU

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ABN 43 145 590 110

ASX Code: 4DS www.4dsmemory.com david@4dsmemory.com

SILICON VALLEY 3155 Skyway Court Fremont CA 94539 UNITED STATES

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AUSTRALIA

Level 2, 50 Kings Park Road West Perth WA 6005 AUSTRALIA

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