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WEEBIT NANO LTD AGM Information 2024

Nov 26, 2024

66042_rns_2024-11-26_1f1f72d9-9473-4c47-aa32-6967b7eca37e.pdf

AGM Information

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2024 Annual General Meeting – Chair Address and CEO Presentation

27 November 2024 – Weebit Nano Ltd ( ASX: WBT , Weebit or Company ), attaches the address to shareholders, which will be delivered by David (Dadi) Perlmutter at Weebit’s 2024 Annual General Meeting. This hybrid meeting will take place today in Sydney.

The presentation slides to be presented by the CEO, Coby Hanoch are also attached.

ENDS

Authorised for release by the Chair and CEO of Weebit Nano Limited.

For further information please contact:

Investors

Media – Australia

Eric Kuret, Automic Markets Dylan Mark, Automic Markets P: +61 417 311 335 P: +61 475 783 675 E: [email protected] E: [email protected]

About Weebit Nano Limited

Weebit Nano Ltd. is a leading developer and licensor of advanced semiconductor memory technology. The company’s ground-breaking Resistive RAM (ReRAM) addresses the growing need for significantly higher performance and lower power memory solutions in a range of new electronic products such as Internet of Things (IoT) devices, smartphones, robotics, autonomous vehicles, 5G communications and artificial intelligence.

Weebit’s ReRAM allows semiconductor memory elements to be significantly faster, less expensive, more reliable and more energy efficient than those using existing flash memory solutions. As it is based on fabfriendly materials, Weebit ReRAM can be integrated within existing flows and processes faster and easier than other emerging technologies, without requiring special equipment or large investments.

See: www.weebit-nano.com

Weebit Nano and the Weebit Nano logo are trademarks or registered trademarks of Weebit Nano Ltd. in the United States and other countries. Other company, product, and service names may be trademarks or service marks of others.

Level 12, 680 George St, Sydney NSW 2000, Australia Office: +61-2-8280 7355 [email protected] | www.weebit-nano.com

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2024 ANNUAL GENERAL MEETING

CHAIR’S ADDRESS

Heading into calendar year 2025, the Board feels confident that Weebit Nano can deliver over the next 12 months. This is because Weebit has now tied its accountability to deliver on its commercial agreements to its performance. As outlined in today’s resolutions, there will be no allocation of equity to the CEO unless specific milestones are met, including signing three licensing agreements with new foundries and/or Integrated Device Manufacturers (IDMs), signing three new agreements with product companies, and completing qualification with DB HiTek. Moreover, we have decided for the same reason not to allocate any equity to the chairman and directors. I believe this is a true indication of the confidence we have in Weebit’s ability to sign new customer agreements and the utmost importance we give to achieving these goals.

We are here to talk about Weebit, but the geopolitical and economic world around us is undergoing huge shifts. First, from an economic point of view, post COVID, higher inflation, higher interest rates (though trending down last few quarters in most place) is affecting investment appetite, with investment in tech reduced from the peak it reached in 2022. Secondly, the geopolitical strife in Europe and Middle East continues, and cross border economic tensions are growing over technology like semiconductors, AI, cybersecurity, and finance between the West and BRICS nations. Third, the AI revolution is creating huge demand for semiconductor products. And, finally, Weebit has quickly adjusted to the conditions of the in the war in the Middle East over the last 14 months with minimal to no impact on its execution as a company. Weebit continues to utilise its resilience, and ability to cope with these ongoing changes, to drive its next phase of growth.

Weebit Nano has had another momentous year in its journey to bring its next generation non-volatile memory (NVM) to market, with a strongly supported share placement of A$50 million with a 6.5% premium over the 5-day VWAP just couple of weeks ago. During the past year, the company secured its first licensing revenues of A$1 million, closed a commercial agreement with Tier-1 foundry DB HiTek, and proved that our embedded ReRAM can function at higher temperatures and endurance cycles and operate at smaller geometries.

Our recent fundraise reflects strong support from institutional investors. While Weebit already had an adequate cash balance, we could not ignore the request of institutional investors wanting to invest in Weebit and willing to do so at a premium. This placement provides the company with resources to accelerate our commercialization activities, as well as provide working capital for further technology development. Weebit Nano has had another momentous year in its journey to bring its next generation non-volatile memory (NVM) to market, which reached its climax recently with a strongly supported share placement of A$50 million with a 6.5% premium over the 5-day VWAP. During the past year, the company secured its first licensing revenues of A$1 million, closed a commercial agreement with Tier-1 foundry DB HiTek, and proved that our embedded ReRAM can function at higher temperatures and endurance cycles and operate at smaller geometries.

Our recent fundraise reflects strong support from institutional investors. While Weebit already had an adequate cash balance, we could not ignore the request of institutional investors wanting to invest in Weebit and willing to do so at a premium. This placement provides the company with resources to accelerate our commercialization activities, as well as provide working capital for further technology development.

Level 12, 680 George St, Sydney NSW 2000, Australia Office: +61-2-8280 7355 [email protected] | www.weebit-nano.com

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I would like to apologize to our loyal shareholders, as we did not manage to follow this raise with a Share Purchase Plan or an entitlement offer, as we always do. ASX regulation made it impossible, due to the strong placement pricing.

The team’s commercial and technical progress over the last 12 months has validated Weebit as one of just three known companies with qualified ReRAM technologies across the globe, and as the only independent provider of qualified ReRAM.

According to industry research firm Yole Group, ReRAM is set to represent more than half of the emerging NVM market in terms of volume by 2029. There is a large opportunity for Weebit’s ReRAM technology in fields including power management, microcontrollers, automotive, and beyond. Semiconductor companies are looking for more advanced technology as the state of the global industry gets stronger. Semiconductors are everywhere and will continue to expand to every aspect of our lives in the short, medium, and long-term. By 2030, the semiconductor market is expected to reach US$1 trillion in value, according to McKinsey. Fabs will be looking for advanced IP solutions for their clients, providing a growing opportunity for Weebit.

Despite Weebit’s significant progress, FY24 has had its challenges. Factors beyond our control, such as missing IPs in SkyWater’s foundry offering, have delayed licensing agreements with product companies at SkyWater, while complex technical evaluations and negotiations with more than a dozen leading foundries and IDMs have taken longer than expected to finalize. These short-term challenges have not dampened our confidence or outlook, and we continue to focus on closing agreements and targeting new licensing deals this calendar year, and into 2025.

Investment analysts are taking note of this rise in demand for cutting edge semiconductor technologies, and they are recognizing the value proposition of Weebit as the only independent provider of qualified ReRAM. This can be seen by research initiation of Weebit over the past year by United Capital Partners and MST Access.

As Weebit grows, it is ensuring that its governance practices remain robust in the best interest of all its stakeholders. During the year, Weebit further improved its governance by updating the CEO agreement, tightening its governance and remuneration procedures, streamlined operation procedures, and restructured Board committees to exclude executives. An example of implementing these practices was the transition of Yoav Nissan-Cohen from an executive director to a non-executive director, a step towards a more independent Board. Mr. Nissan-Cohen has been instrumental in guiding the Company’s technical team in its early days and we will continue to benefit from his experience in his non-executive role.

The team at Weebit has brought the Company to where it is today and helped create a very bright future. I thank them for their dedication to bringing our ReRAM technology to life.

I would also like to acknowledge the ongoing support of Weebit’s shareholders and the belief from them that the Company’s ReRAM technology is the next NVM to replace flash and other forms of memory in multiple industries. I’m looking forward to the year ahead in bringing Weebit into its next phase of commercialization and shaping it into the leading provider of ReRAM worldwide.

Level 12, 680 George St, Sydney NSW 2000, Australia Office: +61-2-8280 7355 [email protected] | www.weebit-nano.com

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Accelerating Progress with Commercial Deals November 2024 Investor Presentation Annual General Meeting of Shareholders 2024

Introduction

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Weebit Nano Proprietary

Weebit: Leading Vendor of ReRAM IP

Advanced Non-Volatile Memory (NVM) Now Entering Production

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Founded: 2015

Located: Israel & France 50 personnel[(1)] (90% engineers/scientists; 13 PhDs)

Business model

IP licensing to semiconductor companies & fabs

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Multiple commercial deals AU $1million revenues received Ongoing discussions & evals with >20 foundries/IDMs & product companies

Fast-growing markets Edge AI, automotive, microcontrollers, power management/analog ICs…

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ASX: WBT

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R&D partner

CEA-Leti, a leading microelectronics research institute

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Proven, protected technology Fully qualified per JEDEC; available for chip designers; 50+ patents & applications

S&P/ASX 300

Global Small Cap Index

  • Source: https://www.mordorintelligence.com/industry-reports/non-volatile-memory-market

(1) Includes employees and full-time contractors

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Copyright 2024 Weebit Nano, Ltd.

Strong Board With World-renowned Semiconductor Industry Experience

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David (Dadi)
Perlmutter Dr. Yoav Atiq Raza Naomi Simson Ashley Krongold Coby Hanoch
Nissan-Cohen NON-EXEC. NON-EXEC. NON-EXEC. CEO
CHAIRMAN NON-EXEC. DIRECTOR DIRECTOR DIRECTOR DIRECTOR
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Copyright 2024 Weebit Nano, Ltd.

Strong & Experienced Management

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Coby Hanoch Ishai Naveh Ilan Sever Amir Regev Issachar Eran Briman Alla Felder
CEO CTO VP R&D VP QUALITY & Ohana VP MARKETING & CFO
RELIABILITY CRO BUSINESS DEV.
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Copyright 2024 Weebit Nano, Ltd.

Semiconductors Represent an Incredible Opportunity

Semiconductors are everywhere, driving world markets

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Most of the world’s top companies design or make semiconductors[2] 1. Microsoft 2. Apple 3. Nvidia 4. Alphabet 5. Amazon 6. Meta 7. TSMC 8. Berkshire Hathaway 9. Eli Lilly 10. Broadcom

(1) https://www.mckinsey.com/~/media/mckinsey/industries/semiconductors/our%20insights/mckinsey%20on%20semiconductors%202024/mck_semiconductors_2024_webpdf.pdf (2) By market cap as of June 30, 2024. https://en.wikipedia.org/wiki/List_of_public_corporations_by_market_capitalization

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Copyright 2024 Weebit Nano, Ltd.

Investment in Semiconductors Ramping up Globally

A growing opportunity for IP solutions

A record number of new fabs are coming online over the next couple of years[1]

Fab costs are skyrocketing; even the largest product companies license IP and use foundries[3]

Samsung Taylor, 3nm; $25B

SEMI World Fab Forecast : 109 new fabs worldwide expected to come online 2022-2026

$800B semiconductor fab investments 2021-2023[2]

  1. https://www.semi.org/en/blogs/semi-news/global-semiconductor-industry-driving-%241-trillion-and-beyond-together 2. https://www.semi.org/sites/semi.org/files/2023-11/14%20Pierre%20Cambou%20Yole%20NEW%20NEW.pdf 3. https://www.artisanpartners.com/content/dam/documents/insights/vxus/Insights-The-Semiconductors-Decade-vXUS.pdf?trk=test

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Copyright 2024 Weebit Nano, Ltd.

Major Recent Corporate Advancements

Driving Shareholder Value Creation

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JUL AUG NOV JUN JUL OCT NOV
2023 2023 2023 2024 2024 2024 2024
GOVERNANCE GOVERNANCE FINANCE RESEARCH GOVERNANCE RESEARCH FINANCE
Set up new Naomi Simson Received first IP MST access Yoav Nissan- Unified Capital Closed A$50M
Board appointed to licensing initiates Cohen  Non- Partners initiates placement with
committees Board revenue coverage Exec Director coverage 6.5% premium
 Governance
 Remuneration
 Finance, Audit &
Risk
 Strategy and
Technology
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Copyright 2024 Weebit Nano, Ltd.

Recent Achievements

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9

Weebit Nano Proprietary

The Transformation of the Embedded NVM Market

The market has transitioned over the last 1-2 years, and today it is clear to everyone that ReRAM is it!

2022 – The Transformation Begins

2023 – Broadening Applications and Market Momentum

Automotive MCU 28nm Infineon & TSMC

IoT & Mobile 2024 – A Clear Shift MCU NVM

TSMC roadmap 2025 Onwards moving from MRAM ReRAM becoming to ReRAM the de-facto embedded NVM Shipping to Customers standard

TSMC; UMC

Trusted supplier ReRAM qualified Weebit & SkyWater

Power Mgmt. NVM Weebit & DB HiTek

Shipping to Customers TSMC: Nordic, Nuvoton

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Power Mgmt. NVM TSMC

Shipping to Customers TSMC: STMicro, others

  • Source: Emerging Non-Volatile Memory report, Yole Intelligence, 2023 and 2024; Internal company information

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Copyright 2024 Weebit Nano, Ltd.

Continued Progress in Last 12 Months

NOV 2023 APRIL 2024 JULY 2024 Weebit ReRAM Demonstrated ReRAM Taped out ReRAM fully qualified module prototype on module in DB HiTek’s 125⁰C in GlobalFoundries 130nm BCD process SkyWater S130 22FDX® wafers FEB 2024 MAY 2024 AUG 2024 Demonstrated extended Partnering with eFabless to Presented positive initial test automotive performance: broaden Weebit ReRAM results on GlobalFoundries 150⁰C; 100K cycles user base at SkyWater 22FDX® wafers

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Copyright 2024 Weebit Nano, Ltd.

Secured A$50 Million via Underwritten Placement

Priced at a 6.5% premium to the 5-day volume-weighted average price

Underwritten placement to institutions and investors from Australia and abroad

November 14, 2024

Underwritten to $47.4 million; balance being taken up by current offshore shareholders

Board wanted to offer SPP, but ASX rules didn’t allow it due to the strong Placement pricing

Use of proceeds

Scale up commercialisation activities to support the expanding customer engagements Accelerate technology development

Well-funded going forward

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Commercialisation
Technology R&D
Activities
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Copyright 2024 Weebit Nano, Ltd.

Proceeding Towards Qual with Second Foundry to Adopt Weebit ReRAM

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  • A global top-tier foundry HQ in South Korea

  • One of world’s top-tier foundries for analog & power ICs

  • Annual revenue of US$1.3 billion

DB HiTek licensed Weebit ReRAM for customer integration Targeting 130nm BCD process – ideal for many analog, mixed-signal and power designs; applications in consumer, industrial and IoT

DB HiTek’s 100s of customers will have access to Weebit ReRAM Customers include Intel, Mitsubishi, Sony and Qualcomm Taped-out ReRAM module as part of technology transfer process Weebit ReRAM is available now to select DB HiTek customers for design prototyping ahead of production Next step: Qualify towards volume production in mid-2025

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Above: a DB HiTek plant

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Copyright 2024 Weebit Nano, Ltd.

Weebit ReRAM on GF 22nm FD-SOI Wafers

Live demo of ReRAM module prototype on GlobalFoundries’ 22FDX® wafers

Highlights some of the many advantages of Weebit ReRAM E.g., scalability, low power, speed

Shows ReRAM is a viable solution in this advanced geometry where embedded flash can’t scale

Demo very well received by the market

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Showing positive pre-qual performance results

Watch the live demo!

https://www.youtube.com/watch?v=sEHRQVueS-s&t=6s

Characterization and qualification activities continue

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Copyright 2024 Weebit Nano, Ltd.

IP Business Model – Foundries & Fabless

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Process IP
Foundry
License + NRE $
$ $
Royalties
$
$ $
Paid directly to Weebit
or through Foundry
Product (Fabless)
Company
Royalties Design IP
Royalties License + NRE
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Benefits of IP Model

Low COGS

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Direct costs are associated with supporting and maintaining IP No inventory

High gross and operating margins Once IP is created, it gets sold multiple times Royalties go directly to the bottom line

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Copyright 2024 Weebit Nano, Ltd.

IP Business Model – Benefits with IDMs

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$ Upfront license fees
$ Enablement fee (NRE)
IDM
$ Royalties (% of chip ASP)
$ Annual S&M
Process IP
Design IP
Process transfer
Customized module
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IDMs design, manufacture and sell their own devices

Develop products quickly for target end markets Can integrate IP in multiple designs / products

Accelerated time-to-market and time-to-revenue

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Copyright 2024 Weebit Nano, Ltd.

Every Deal Represents Multiple Opportunities

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FOUNDRY FOUNDRY
Coming Coming
Soon Soon
IDM FOUNDRY
 Product Company Product Company
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----- Start of picture text -----

 Product Company Product Company
 Products/Product Lines
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Copyright 2024 Weebit Nano, Ltd.

Huge Opportunities Ahead

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Weebit Nano Proprietary

Addressing Fast-Growing Semiconductor Markets

>$200 Billion TAM in Customer Markets

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Power Management ICs Automotive Semiconductors
$61.7B by 2032 $84.3B by 2028
Mixed-Signal
6.9% CAGR 11.9% CAGR
Power Management
Automotive
Semiconductor Aerospace
IoT Microcontrollers IoT / MCUs & Defense A&D Semiconductors
$11.15B by 2029 Markets $12B by 2030
12.77% CAGR 9.5% CAGR
Edge AI
Implantable,
Edge AI Chips Semiconductors in Healthcare
Hearables,
$25.2B by 2033 $12.82B by 2029
Disposables
26.5% CAGR 11.4% CAGR
Copyright 2024 Weebit Nano, Ltd.
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Sources: IMARC Group Nov 2022; Market Data Forecast June 2024; Market.us July 2024; Yole Group Oct 2023; Market Research Future Nov. 2023; Mordor Intelligence

The Growing Opportunity for ReRAM

Embedded ReRAM growing rapidly across numerous applications

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1,200 $1,000
Total Embedded ReRAM Market
$900
1,000
$800
$700
800
$600
Units: 75% CAGR
600 $500
Revenues: 177% CAGR
2023-2029 $400
400
$300
$200
200
$100
0 $0
2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
Total Embedded ReRAM Market (in M units) Total Embedded ReRAM Market (in $M)
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Note: The embedded emerging NVM market size is evaluated based on assumptions of the average chip area occupied by a given memory technology (Yole)

  • Source: Emerging Non-Volatile Memory report, Yole Intelligence, 2024

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Copyright 2024 Weebit Nano, Ltd.

ReRAM to Drive Innovation for Edge AI and Future Neuromorphic Compute

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----- Start of picture text -----

CPU I/Os
CPU I/Os
In-Memory-Compute
System SRAM
AI Engine
CPU I/Os System SRAM
NVM (ReRAM)
AI Engine
System SRAM
Future ReRAM-based
SRAM
Computing
AI Engine
ReRAM-based Near-Memory Systems: mimic brain’s behavior for fast
Compute: superior to DRAM real-time processing on massive
and SRAM-based alternatives
amounts of data
NVM (Flash) • •
Better cost, performance
More efficient synaptic weight
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Future ReRAM-based Neuromorphic Computing

Systems: mimic brain’s behavior for fast real-time processing on massive amounts of data

  • Better cost, performance and power; always-on availability

  • More efficient synaptic weight storage for NN calculations: 4X greater capacity than SRAM

Today’s 2-chip solution External NVM holds weights Weights copied into SRAM

  • Eliminates external NVM

  • Three orders of magnitude (x1000) better energy efficiency

  • Wasteful in terms of size & cost

  • Prohibitive power

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Copyright 2024 Weebit Nano, Ltd.

We’ve Got What it Takes

State-of-the-art ReRAM requires intimate cooperation between the different disciplines Precise characterization and rigorous testing ensure continuous improvements

Test and characterization team enables fast adjustments  higher reliability/yield Advanced lab in-house enables very short loop

A focused, experienced, management team is critical

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Device
Digital Design
Process
& Algorithms
Analog
Design
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Copyright 2024 Weebit Nano, Ltd.

What’s Coming Next?

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Weebit Nano Proprietary

Progressing with Foundries, IDMs and Product Companies

In different levels of evaluation/negotiation with most of the top foundries and IDMs Increasingly moving from technical evaluations to business discussions

Leading Foundries and Integrated Device Manufacturers*

Making progress with product companies

Increased selective activity with China ecosystem

Expect to sign more agreements in 2025

Applying as a partner for government funded projects

Infineon STMicroelectronics XMC Samsung Analog Intel Hua Hong TSMC Devices Group DB HiTek Tower PSMC onsemi Nexchip VIS NXP Denso UMC Bosch SMIC Sony Microchip Renesas Texas Winbond GlobalFoundries Instruments

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Copyright 2024 Weebit Nano, Ltd.

Sources: TechInsights, Statista, Trendforce, internal company information

Weebit Nano Key Targets Until End CY 2025

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Fabs Products Qualification
Three new Three new Complete
licensing agreements with qualification at
agreements product companies DB HiTek
Delivering on these milestones will continue to cement Weebit’s position
as the leading independent provider of ReRAM technology
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Copyright 2024 Weebit Nano, Ltd.

Disclaimer

This presentation contains certain statements that constitute forward-looking statements. Examples of such statements include, but are not limited to, statements regarding the design, scope, initiation, conduct and results of our research and development programs; our plans and objectives for future operations; and the potential benefits of our products and technologies. In some cases, forward-looking statements can be identified by the use of terminology such as “may,” “will,” “expects,” “plans,” “anticipates,” “estimates,” “potential” or “continue” or the negative thereof or other comparable terminology. These statements involve a number of risks and uncertainties that could cause actual results and the timing of events to differ materially from those anticipated by these forward-looking statements. These risks and uncertainties include a variety of factors, some of which are beyond our control. All forward-looking statements and reasons why actual results may differ are based on information available to us when initially made, and we assume no obligation to update these forward-looking statements or provide reasons why actual results might differ or the information set forth herein.

In addition, we do not make any representations or warranties, express or implied, with regard to the information included in this presentation of any other related document or information disclosed or furnished in connection thereto, including, without limitation, with respect to the accuracy, reliability, completeness or its sufficiency for any particular purpose. This information is proprietary and confidential of Weebit and is provided on a confidential basis and may not be disclosed or used without our prior written consent. You acknowledge that the disclosure and use of the information may be further prohibited under applicable securities or other laws.

This presentation is made for informational purposes only and does not constitute an offer to sell any interest in Weebit not does it form the basis of any contract or agreement between the parties.

Third party data

This presentation includes or is otherwise based on information obtained from publicly available information including industry analyst firms and other information publicly released by corporations and government departments. Weebit has not independently verified or audited this information. Accordingly, the accuracy and completeness of such information is not guaranteed. This data has been accurately reproduced and, as far as Weebit is aware, no facts have been omitted that would render the information provided inaccurate or misleading. Investors should note that market data is inherently predictive and subject to uncertainty and is not necessarily reflective of actual market, industry and macroeconomic conditions. Specifically, there is no assurance that any of the forecasts or projections will be achieved. Forecasts and projections involve risks and uncertainties and are subject to change based on various factors, including those discussed above.

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Copyright 2024 Weebit Nano, Ltd.

Thank You! www.weebit-nano.com

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