WEEBIT NANO LTD — Investor Presentation 2020

Jul 22, 2020

23 July 2020

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WELCOME FROM YOUR BOARD

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David Perlmutter Coby Hanoch Dr. Yoav Nissan-Cohen Atiq Raza Fred Bart Ashley Krongold CHAIRMAN CEO EXEC. NON-EXEC. NON-EXEC. NON-EXEC. DIRECTOR DIRECTOR DIRECTOR DIRECTOR

Served as Executive Vice President and General Manager at the Intel Architecture Group (IAG) and Chief Product Officer of Intel Corporation

IEEE Fellow and winner of the prize for innovation in industrial development from the Israeli President

Serves on the board of Mellanox as well as several other semiconductor startups

40 years of experience in the semiconductor industry, including 2 exits at Verisity Design and Jasper Design Automation

CEO of PacketLight, turned it around from the verge of bankruptcy

Leading WW sales teams for almost 25 years

Appointed CEO in Oct 2017

Received his PhD researching non-volatile memories, under the supervision of Prof Dov Frohman, the inventor of the first non-volatile memory technology

Led the creation of Tower Semiconductor and was its CEO for almost 10 years, including taking it public on NASDAQ

Co-founder of Saifun Semiconductor, a NVM company which was subsequently sold to Spansion

Over 40 years experience in the semiconductor industry

Chairman and CEO of NexGen Inc for 7.5 years, and then became President and COO of Advanced Micro Devices (AMD) after NextGen was acquired by AMD

Held multiple roles as investor, Chairman and CEO of several semiconductor companies

Extensive track record of business success with decades of experience across multiple industries

Over 15 years experience in the investment banking and accounting industry

CEO of the Korngold Group. He serves on the Boards and is a Director of various ASX listed companies, communal charities, foundations and organizations globally. Member of YPO (Young Presidents’ Organization)

Chairman and major shareholder of Electro Optics Systems Limited (EOS), Chairman of Audio Pixels Holdings Limited (AKP) and holds a wide range of private companies worldwide

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A BUSY 12 MONTHS…

• Continued intensive work on improving the technology

• Signed two Letters of Intent

• Chinese memory solutions company XTX Technology

• Chinese semiconductor company SiEn

• Successful technology verification by XTX Technology in China

• Launched program to address standalone memory market

• 8 patents registered, started registration in China

• ReRAM simulation model generated via partnership with Silvaco

• Enables easier transfer to production fab

• Demonstrated world’s first neuromorphic demo running Spiking Neutral Network (SNN) algorithms on ReRAM with partner Leti

• Received ISSCC 2020 Technology Innovation Award

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INVESTMENT HIGHLIGHTS

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Competitive advantage

Weebit Nano

Developer of ReRAM memory technology, (1000x faster and 1000x more energy efficient, 100X higher endurance) than existing Flash memory technology

Uses standard materials in fabrication, very cost-competitive

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Rapid market growth

Market traction Targeting first customer/partner agreements in Q2 2021

NVM market estimated at US$60B, growing to US$82B by 2023 and over US$100B by 2025 (MarketsandMarkets Research)

• Weebit is active in all leading semiconductor markets and has not observed any other vendor that offers or has announced an intention to offer, technology using SiOx only without having to add any non-standard materials

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Technology validated

Technology validated by third-party partners for embedded and discrete markets

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Team

World class leadership team in place to support transition to commercialisation

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Weebit’s technology can meet the needs of many of
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MEMORY at the CENTER of the DIGITAL WORLD

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5G
Security
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A MASSIVE “CHINA” OPPORTUNITY

CHINA AIMING TO SIGNIFICANTLY GROW ITS SEMICONDUCTOR INDUSTRY

 Semiconductors are the growth enabler of the digital economy

• Processing, memory and communication technologies are in high demand to keep up with computation and storage requirements of the digital economy

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• China is the largest user of these technologies

• Boosting its semiconductor industry is a core pillar of its “Made in China 2025” plan; aiming for 80% of semiconductors to be made domestically

• Despite the progress made, China cannot keep up with market demands (see chart)

• The majority of China’s semiconductor imports are memories

• A transition in technology is China’s opportunity to take the lead

• Memory technologies are now emerging to help the digital economy significantly advance

Source: IC Insights, Inc.

SK Hynix and Samsung are the top memory companies by sales worldwide

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• We believe Weebit’s next generation ReRAM technology is very attractive to the Chinese semiconductor industry

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THE MEMORY MARKET

• Weebit is targeting both segments of the Non-Volatile memory market

• Embedded memory modules are part of a System-on-a-Chip

• Discrete memory chips are standalone memories

• Together they are estimated at ~US$60B, growing to US$82B by 2023[1]

Volatile Non-Volatile eFlash Embedded memory: Weebit’s SRAM ReRAM Part of an SoC focus MRAM (System-on-a-Chip) Discrete memory Chip: Flash Contains only memory, Weebit’s DRAM ReRAM Integrated on board focus others

There is a strong need for a new memory technology to keep pace with technology developments

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SRAM = Static Random Access Memory

DRAM = Dynamic Random Access Memory

1. Source: MarketsandMarkets Research Private Ltd: https://www.marketsandmarkets.com/Market-Reports/non-volatile-memory-market-1371262.html

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EMBEDDED MEMORY IP STATUS

• Announced 2 partners

• SiEn

• A tier-2 Korean company

• 1Mb memory array with market-competitive results available

• 10[6] cycles endurance

• c

• 10 years retention at up to 150[o]

• Developing the memory module which will surround the array

• Targeting first demonstration to customer by end of Q1 2021

• Targeting first customer agreements within 3-4 months of demonstration

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ENTRY INTO THE DISCRETE MEMORY MARKET

THIRD PARTY TECHNOLOGY VALIDATION

• XTX Technology, Chinese memory company, verified the technical parameters in their lab in December 2019

• Successful external testing was achieved four months ahead of schedule

• The two companies are investigating ways to integrate Weebit’s ReRAM technology into XTX products

• Initial focus on replacing NOR Flash

• Agreement with Leti extended to include rights to Leti’s proprietary selector

• Leti’s selector has been in development over 5 years

• Targeting integrated ReRAM + selector to be demonstrated by Q3 2021*

• Technical terms and costs of the extension have been agreed, with commercial terms being discussed as part of development

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THE CHINESE OPPORTUNITY

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• A Chinese developer of Flash memory chips

• Has close to 2,000 customers worldwide

• Including many leading global semiconductor companies

• Looking to improve its existing memory products with newer, superior technology more suitable for advanced applications

• Joint team has verified Weebit’s technology

• Exploring together ways for XTX to use Weebit's technology in their products

• A Chinese Commune IDM (integrated device manufacturer)

• Has its own fabs

• Led by Dr Richard Chang, “father of Chinese semiconductors”

• Will be producing IoT devices and other products requiring NVM

• Signed LOI to explore using Weebit’s technology in their designs and fabs

And others…

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RERAM TECHNOLOGY FOR TOMORROW

Mimic the brain as accurately as possible

o ReRAM resemblance to biological synapse o Physical similarities leads to functional similarities o Highly energy efficient

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Brain inspired computing systems

Object recognition

Which make it an enabler to Brain Inspired Artificial Intelligence systems using ReRAM

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Machine learning

Weebit believes ReRAM is the solution for tomorrow’s needs achieving artificial intelligence capabilities

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RECENT UPDATES

• Nominated as one of the top 10 startups in the EETimes “Silicon 100: Emerging Startups to Watch” report

• Neuromorphic research paper with Polimi University & Leti

• Weebit Nano progressed its neuromorphic ReRAM project with Politecnico di Milano (Polimi) and development partner Leti, presenting a joint research paper on an AI self-learning demonstration based on Weebit’s silicon oxide ReRAM

 Filed two new patents to further protect the intellectual property of its silicon oxide (SiOx) ReRAM technology

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SUCCESSFULLY RAISED A$9.1 MILLION

Upsized A$6.6 million Placement

• Placement of 23,446,429 new ordinary shares at A$0.28 per share to raise circa $6.6 (“Placement Share”)

• Each Placement Share has a free attaching option (to be listed if minimum spread requirements are met) with an exercise price of A$0.45 and an expiry date of 18 months from issue (“Placement Options”)

• The Placement was conducted in two tranches

• Tranche One consisted of 7,876,215 Placement Shares and Placement Options and 2,205,340 Broker Options that were issued under the Company’s current placement capacity*

• Tranche Two consists of the balance of the Placement – 15,570,214 Placement Shares and Placement Options, 9,144,660 Broker Options** and is subject to shareholder approval at today’s Extraordinary General Meeting. Included in Tranche Two of the Placement, the Directors have committed to subscribe for $215,000

Upsized and heavily oversubscribed Share Purchase Plan

• Raised a further ~A$2.5m (scaled back A$210k) with customary adjustments on the same terms as the Placement (including SPP Options), subject to shareholder approval at today’s Extraordinary General Meeting

• All Placement Options and Broker Options (Tranche 1 and 2) will be issued at the same time as the SPP Options to help satisfy the ASX spread requirements for listing

• ** Includes 3,000,000 Broker Options to the Lead Manager for advising on the Placement Offer, 4,144,660 Broker Options to the brokers, and a further 2,000,000 Broker Options to the Corporate Adviser for advising on the Offers

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RAISING SUPPORTS GROWTH ACTIVITIES

The ultimate goal: Achieve first commercial agreement for embedded product by mid 2021 Key enabling activities:

• Continue improving the quality of our ReRAM

• Improve the robustness – increase the yield

• Improve technical parameters

• Register additional patents to secure our IP

• Continue work on the module

• Finish design by end Q1 2021

• Produce by end Q2 2021

• Transfer to a production fab

While continuing work on the selector at lower priority

• Demonstrate working ReRAM+Selector by Q3 2021

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SUMMARY

Semiconductors are driving the world today Virtually every electronic product needs Non-Volatile Memory China is the largest semiconductor consumer and growing rapidly

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Weebit has a leading ReRAM solution that can replace Flash memory

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It is progressing discussions with potential customers, targeting first orders in Q2 2021

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Program launched to accelerate entry into discrete memory market

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Technology now being prepared for transfer to production

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Well credentialed Board and management with extensive semiconductor commercialisation experience

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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 research 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 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, such as Statistica 2018, Yole Développement June 2017 and Advanced Materials Progress Report, 2018; and (iii) other information publicly released by corporations and government departments. Weebit has not independently verified or audited this information or any 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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