BLUGLASS LIMITED — AGM Information 2015

Nov 15, 2015

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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CORPORATE OVERVIEW
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BOARD

George Venardos Chairman

Giles Bourne Managing Director

Bill Johnson Non Executive Director

Chandra Kantamneni Non Executive Director

Greg Cornelson Non Executive Director

CORPORATE

Established 2006

ASX:BLG

316M

shares issued

TOP SHAREHOLDERS

as at 1 Aug. 2015

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AWARDS & GRANTS 2013

Australian Cleantech Competition Winner & 2013 Australian Cleantech Competition Manufacturing Award

GLOBAL TOP 30 Finalist in GCCA Cleantech Later Stage Award

$5M Commercial Ready Grant

$4.95M Climate Ready Grant

$3M

Cleantech Innovation Grant

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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TIMELINE Historical
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BluGlass has made significant technical progress in bringing RPCVD towards commercialisation

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NOV 2012
JUL 2013 DEC 2013 AUG 2014 APR 2015
Produced LED films Proof of concept; that meet industry the Clean Technology $3M awarded under revenues First customer received Scaled-up RPCVD system (BLG-300) Veeco Instruments evaluate RPCVD to
electrical performance Innovation Program for Foundry Services comes online power electronicsfor green LEDs &
properties
FEB 2013 OCT 2013 JUL 2014 NOV 2014 MAY 2015
Successfully produced Australian Cleantech Produces best RPCVD Appointed US-based Prelim. demonstration
p-Gan films using RPCVD, meeting Overall Winner Competition p-GaN light output to date & overcomes expert custom epitaxy (Foundry) agent for of performance improved device using
industry performance benchmarks 2013 interface challenge MOCVD RPCVD in green
LEDs
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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HIGHLIGHTS 2015
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JUL 2014 AUG 2014 NOV 2014 NOV 2014 APR 2015 MAY 2015 NOV 2015
RPCVD p-GaN light fold improvement output to date Produces best10- Scaled-up RPCVD system comes (BLG-300)online Received for RPCVD first trial wafers international custom epitaxy (foundry) Appointed an agent Veeco Instruments industry leader; agreement with Evaluation Improved device results in performance LED trials green Tier LED company collaboration with test a custom LED Commences application Top to
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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PATENTS
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Hardware & Process Patents

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7 40 18
FAMILIESPATENT GRANTED PATENTS APPLICATIONSPATENT
in key markets;
China, Japan, USA
& Europe
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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FOUNDRY UPDATE
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Multiple foundry BluGlass is now customers conducting foundry & a growing pipeline of and custom epitaxy new customers services for a variety of applications including green and blue LEDs, power Some customers have electronics, and laser begun to trial RPCVD diodes

The foundry business continues to expose BluGlass to new and emerging applications that could benefit from a low temperature RPCVD technology

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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FINANCIAL PERFORMANCE
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$4.1M $2.4M $412K $2.1M $300K
CASH RAISED IN BURN RATE/MONTH R&D TAX REBATE FOUNDRY REVENUE
POSITION AT SPP & DOWN FROM $450K RECEIVED IN 2015 FORECAST FROM A
END OF SEP PLACEMENT MONTH IN 2014 SINGLE CUSTOMER
OVER THE NEXT 6
MONTHS
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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VEECO EVALUATION
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Worlds largest MOCVD equipment manufacturer

RPCVD Evaluation

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LED

STATUS

• / Positive initial 2 inch trials for green LEDs

• / Now progressing to 4 inch trials and greater collaboration

NASDAQ: VECO

$806M

Power Electronics

/ Initial materials evaluation of p-GaN for power electronics has also shown that p-GaN has the potential for significant performance advantage

Market cap

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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TOP-TIER LED EVALUATION
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TIER-1
LED COMPANY
EVALUATING RPCVD
FOR NOVEL LED
APPLICATION
SUBJECT TO A
CONFIDENTIALITY
AGREEMENT
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Collaborative evaluation with Tier-1 LED manufacturer Targeting enhanced performance and lower cost LEDs using RPCVD Attracted to BluGlass by our latest technology demonstrations and the benefits of our RPCVD technology Collaboration will focus on a novel application of RPCVD

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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RPCVD A Platform Technology
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BluGlass is targeting the rapidly expanding LED, PV, and Power Electronics markets

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LED
POWER
ELECTRONICS
SOLAR
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Lighting Mobile devices & TVs Green & yellow LEDs UV LEDs

Consumer electronics Power Supply Data centers Auto

Focus on industrial scale solar power (concentrated photovoltaics)

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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COMMERCIALISATION PATHS
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LIKELY PATHS

STATUS

• / License RPCVD technology / In discussion with equipment & device

• LED / Partner with LED device or equipment manufacturers manufacturer / Evaluation in progress

• / License RPCVD technology

• Power / Foundry — wafer sales / In discussion with potential partner(s)

• Electronics / Partner with Power Electronics player / Evaluation in progress or equipment manufacturer

• / Partner with solar CPV player / Manufacture and sell high

• Solar / Considering JV options & partners performance PV wafers

• / In discussion with equipment & device manufacturers

• / Evaluation in progress

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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PATH TO MARKET
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GROW FOUNDRY
BUSINESS GAIN INDUSTRY DRIVE
DEMONSTRATE
ACCEPTANCE COMMERCIALISATION
KEY APPLICATIONS
Continue to work with
MOCVD & RPCVD customers Complete industry BluGlass is evaluating a
Improve device at the leading edge of evaluation with multiple number of commercialisation
performance
technology innovation to partners in the value chain options for RPCVD (inc. JV,
combining RPCVD
with MOVCD grow revenue & (e.g. equipment & device Strategic Partner, Licensing
reputation in the manufacturers) & Foundry)
industry
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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END MARKETS LED
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45%

The LED lighting market is anticipated to grow 45% per year through 2020

$216B

Global revenue from LED lighting systems is expected to total $216 billion through to 2024

Source: Navigant Research

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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END MARKETS Power Electronics
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The Power Electronics markets also presents a growing opportunity for the RPCVD technology

$2.5B

The GaN and SiC power electronics market is expected to be worth $2.5B by 2023

The emerging global market for SiC and GaN power electronics is expected to grow 17-fold over the 10 years from 2013 through to 2023

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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INTRODUCING Strategic Shareholder SPP Technologies
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TECHNOLOGIES

A wholly owned subsidiary of Sumitomo Precision Products (TSE:6355)

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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FACILITY & WORLD LEADING TEAM
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1,200m [2 ]
FACILITY
in Sydney, Australia
12
Process
Hardware &
Device Team
9PhDs
Currently
generating REVENUE
from custom epitaxy
& contract R&D
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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CONCLUSION Investment Highlights
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LED,
Power &
Solar
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Foundry
sales
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Disruptive Multiple, Well funded, platform growing end approaching technology markets commercialisation

High end foundry A team with global Multiple & service leading expertise in awards & capability semiconductors grants

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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KEY TECHNICAL HIGHLIGHTS
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RPCVD for 3[rd] Party Applications — Industry driven development

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Commences collaboration with global Tier-1 LED manufacturer for enhanced performance and lower cost LEDs using RPCVD

Ongoing collaboration with Veeco (largest MOCVD equipment manufacturer) to evaluate RPCVD p-GaN for Green LEDs & Power Electronics

Generates first RPCVD LED revenue for a specialty green LED application with a US based customer

RPCVD Aluminum Nitride under evaluation by LED manufacturer in China

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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KEY TECHNICAL HIGHLIGHTS
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BLG-300 established
best RPCVD results to
date surpassing the BLG-
180 3.8x10 [18 ] cm [-3 ]
RPCVD is now producing
Generated RPCVD very high carrier
concentration p-GaN with
awareness with latest resistivity of
p-GaN electrical properties 1.4 Ohm.cm
and LED data
Invited to present the
benefits of RPCVD at
2
SemiCon China ,
LED China Conference INDUSTRY
EVALUATIONS WITH
2015 MARKET LEADERS
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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GREEN LED APPLICATION
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2 KEY
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MARKETS FOR GREEN LEDs: GENERAL LIGHTING & DISPLAYS (TVs/MOBILES/ PROJECTORS)

An alternative to using a blue LED + yellow phosphor is to use three different LEDs: Red, Green, and Blue ( RGB ) that when mixed can produce both white light, or any colour required (see bottom left image)

Above: conventional phosphor based white LED Below: RGB LED

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30%
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LOSS OF LED
EFFICIENCY WHEN
USING A PHOSPHOR
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However, today’s green LEDs grown by MOCVD suffer from relative poor efficiency compared to blue LEDs, in part due to the poorer material quality of green LED structures.

This is where low temperature RPCVD comes in.

SOURCE: Laser Focus World “PHOTONIC FRONTIERS: RGB LEDS FOR ILLUMINATION: Color-tunable RGB LED lighting goes far beyond replacement bulbs”, Aug 2013.

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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RPCVD p-GaN for LED APPLICATIONS (Blue, Green, Yellow)
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LED Structure grown using MOCVD

p-GaN Grown using RPCVD

p-GaN grown at INTERMEDIATE p-GaN grown at LOW to HIGH temperature Multi-Quantum-Well (MQW) InGaN layer, Multi-Quantum-Well (MQW) InGaN layer, the active region of an LED – the active region of an LED – grown at low temperature grown at low temperature n-GaN grown at high temperature n-GaN grown at high temperature GaN grown at high temperature GaN grown at high temperature Sapphire Substrate Sapphire Substrate

p-GaN grown at LOW temperature Multi-Quantum-Well (MQW) InGaN layer, the active region of an LED – grown at low temperature

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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RPCVD p-GaN for LED UPDATE
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% Performance improvement of GREEN LED EL DATA MOCVD LED RPCVD LED RPCVD compared to MOCVD Light Output (mW) 1.3 1.6 Vf (V) 3.5 3.9 +10% Peak Wavelength (nm) 525 525 FWHM (nm) 35 33 % Performance improvement of BLUE LED EL DATA MOCVD LED RPCVD LED RPCVD compared to MOCVD Light Output (mW) 3.0 2.8 Vf (V) 4.0 3.9 -4% Peak Wavelength (nm) 469 470 FWHM (nm) 19 21

BluGlass has demonstrated internal results showing an improvement in green LED performance and is now working with Veeco to demonstrate similar performance on their wafers

*MOCVD & RPCVD LED wafer test at 20mA using indium contacts. Best data point for each wafer used.

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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FOUNDRY UPDATE
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$300K COMMITTED WORK FROM A US BASED CUSTOMER FOR CUSTOM LEDs (GREEN & BLUE)

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GROWING NEW CUSTOMER PIPELINE

• 2 Specialty application LED Companies

Key strategy is to attract customers requiring MOCVD initially to test their applications with a path to incorporate the advantages of low temperature RPCVD as the technology continues to mature

• 1 Laser Diode Company wanting to try hybrid RPCVD/MOCVD Laser Diodes

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1 Power Electronics Company
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015

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THANK
YOU
bluglass.com.au
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2015