4DS MEMORY LIMITED — Regulatory Filings 2021

Jan 31, 2021

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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1 February 2021

POSITIVE RESULTS FROM SECOND NON-PLATFORM LOT

• Data from the Second Non-Platform Lot demonstrated that the results from First Non-Platform Lot were repeatable

• Insights from the Second Non-Platform Lot were incorporated into process conditions for Second Platform Lot

• Production of the Second Platform Lot commenced at imec on 27 January 2021

• Results from this Second Platform Lot are expected in Q2 of 2021

Background

On 24 June 2020, 4DS announced the results of its analysis of the Additional Wafers Lot (being the First NonPlatform Lot of 300mm wafers). The First Non-Platform Lot was fabricated with process condition contributions from Western Digital and imec.

The 24 June 2020 announcement stated “it [4DS] has measured the highest speed and endurance in the Additional Wafers Lot that have ever been recorded by the Company:

• The best recorded speed at near DRAM speed exceeds Storage Class Memory requirements without the need for speed crippling error correction;

• Endurance is two to three times better than previously reported. Actual endurance may be significantly higher but is currently not quantified due to available lab time and test equipment capacity; and

• The Company also measured retention and the results remain confidential to the Company and its partners until such time as the upper limits of retention can be more accurately defined.”

Second Non-Platform Lot

Further to the update provided in the Company’s Quarterly Activity Report dated 20 January 2021, 4DS confirms that it has now completed its testing of the Second Non-Platform Lot. The Company is pleased to report that the data from the Second Non-Platform Lot:

• Confirmed that the Company has been able to repeat the results for each of the key memory characteristics (speed, endurance and retention) that were achieved with the First Non-Platform Lot;

• significantly, 19 of the 21 device wafers were functional, a first for the Company (the two nonfunctional wafers were the result of being manufactured outside the imec process window); and

• provides 4DS with further valuable insights with respect to how changes in key process parameters affect these key memory characteristics; i.e. which changes increase which memory characteristic.

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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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Second Platform Lot

The learnings from the Second Non-Platform Lot have been incorporated into the process split conditions for the Second Platform Lot of 300mm wafers. The Second Platform Lot is using imec’s memory platform, and contains dense memory arrays with the control logic necessary to read and write selected bits and bytes.

The production of the Second Platform Lot commenced at imec in Belgium on 27 January 2021, and the Company expects to analyse these wafers in Q2 of 2021.

The results from the analysis of the Second Platform Lot are expected to pave the way for 4DS and its partners to pursue their strategic objective of fabricating wafers with chips that operate as fully functional megabit memories, and which have been produced using state of the art industry fab equipment. If successful, this may bring 4DS closer to its 2021 objectives to achieve a potential corporate transaction.

4DS’ Managing Director, Dr Guido Arnout stated that “We are pleased that the success of the Second NonPlatform Lot has meant that we were able to immediately commence fabrication of the Second Platform Lot. We are grateful to our partner, imec, for scheduling a slot in its state of the art fab in such a timely manner, particularly given the high demand for access to fab equipment in the current semiconductor market environment.”

Drs. Wilbert van den Hoek, 4DS’ Chairman, commented “Industry players want to know that a new memory technology can be produced commercially, using industry standard fab equipment. 4DS is well advanced on this path, and the commencement of the Second Platform Lot is another significant step forward.”

Authorised for release by the Board.

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 for next generation gigabyte storage in mobile and cloud. Established in 2007, 4DS owns a patented IP portfolio, comprising 29 USA patents granted and 3 patent applications pending and or being filed, which has been developed in-house to create highdensity 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, a world-leading research and innovation hub in nanoelectronics and digital technologies. The combination of imec’s widely acclaimed leadership in microchip technology and profound software and information and communication technology expertise makes them unique.

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

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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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About imec

imec is the world-leading research and innovation hub in nanoelectronics and digital technologies. The combination of our widely acclaimed leadership in microchip technology and profound software and ICT expertise is what makes us unique. By leveraging our world-class infrastructure and local and global ecosystem of partners across a multitude of industries, we create ground breaking innovation in application domains such as healthcare, smart cities and mobility, logistics and manufacturing, energy and education.

As a trusted partner for companies, start-ups and universities we bring together close to 3,500 brilliant minds from over 75 nationalities. Imec is headquartered in Leuven, Belgium and also has distributed R&D groups at a number of Flemish universities, in the Netherlands, Taiwan, USA, China, and offices in India and Japan. In 2016, imec's revenue (P&L) totalled 496 million euro. Further information on imec can be found at www.imec-int.com.

imec is a registered trademark for the activities of IMEC International (a legal entity set up under Belgian law as a "stichting van openbaar nut”), imec Belgium (IMEC vzw supported by the Flemish Government), imec the Netherlands (Stichting IMEC Nederland, part of Holst Centre which is supported by the Dutch Government), imec Taiwan (IMEC Taiwan Co.) and imec China (IMEC Microelectronics (Shanghai) Co. Ltd.) and imec India (Imec India Private Limited), imec Florida (IMEC USA nanoelectronics design center).

For more information, please visit www.imec.be.

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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