WEEBIT NANO LTD — Investor Presentation 2021

Jan 28, 2021

29 January 2021

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Who We Are?

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Competitive advantage

Weebit Nano

Developer of ReRAM memory technology, (significantly faster and more energy efficient, higher endurance) than existing Flash memory technology

Uses standard materials and equipment in fabrication, very cost-competitive

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Rapid market growth

Market traction

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

Ongoing discussion with potential semiconductor customers and partners; targeting first commercial agreements by mid 2021

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

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Technology maturity

Ready for technology transfer to production. Demonstrated high retention and endurance

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Team

World class leadership team in place to support transition to commercialisation

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KEY HIGHLIGHTS FOR Q2 FY21

ANOTHER PRODUCTIVE QUARTER AS WBT PREPARES FOR PRODUCTISATION

• Completed the stabilisation process with Leti; technology now ready to transfer to a production fab; discussions with potential production partners advancing

• Expanded strategic partnership with Leti to incorporate additional activities across ReRAM technology development, embedded and standalone memory markets

• Raised $15 million via heavily oversubscribed Placement and Share Purchase Plan

• Further strengthened executive team with the appointments of Ilan Sever as Vice President Research & Development and (post quarter end) Ishai Naveh as Chief Technology Officer

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• Filed two new patents with Leti, optimising ReRAM performance

• Included in the S&P/ASX Technology Index

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KEY APPOINTMENTS MADE

FURTHER STRENGTHENED MANAGEMENT TEAM

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• Non-volatile memory veteran Ishai Naveh appointed as Chief Technology Officer on 12 January (post balance date)

• More than 35 years’ experience in the semiconductor field, ranging from process development and integration, silicon manufacturing, setting technology requirements and directing technical teams to address customers’ needs

• Serving at Tower Semiconductor since 1993, he was responsible for NVM and Foundry Technologies. In 2007 Mr Naveh co-founded Adesto, one of the early ReRAM companies, leading technology and product definition and adaptation for market requirements

• Will drive the strategic direction of the Company’s technology development

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• Ilan Sever appointed as Vice President Research & Development to drive the Company’s progress within the embedded, standalone and neuromorphic markets

• Brings more than 25 years’ in Very Large-Scale Integration (VLSI) design with extensive experience across the entire semiconductor spectrum, from complex mixed-signal System-on-a-Chip (SOC) design through to IoT and security chips as well as physical device and process improvements

• An expert in both non-volatile and volatile memories, Ilan’s previous roles include Group CTO at semiconductor design and solutions company Dolphin Integration, Director of IP, Library & Design Services at Tower Semiconductor and Design Centre Manager at ST Microelectronics

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WORLD-RENOWNED BOARD OF DIRECTORS

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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
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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 Krongold 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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5

LETI AGREEMENT EXTENSION

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LONGSTANDING PARTNERSHIP BROADENED TO ADDRESS MARKET NEEDS

• Weebit and Leti recently extended partnership to help progress and accelerate the commercialisation process. Agreement extension covers:

1. Further enhancements to Weebit’s ReRAM technology

• Further enhancing the efficiency and robustness of Weebit’s ReRAM technology to ensure its technology remains industryleading and attractive to potential customers and partners

2. Enhancing the embedded memory module

• Adding enhanced functionality to better address customer needs and increase attractiveness to potential customers

• This decision followed discussions and input from industry experts and partners

• Weebit’s ReRAM memory module will be one of the first in the world to be integrated into a sub-system consisting of a processor, Static Random-Access Memory (SRAM), the ReRAM array and peripherals

• Expected to slightly push out the completion of the memory module design stage to June 2021

3. Development of the selector for the standalone memory market

• Continuing as planned, with the goal of demonstrating a working combined cell by Sep 2021

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PROGRESSING TO COMMERCIALISATION

Embedded Memory IP Roadmap

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External technology Completed
validation stabilisation First commercial
1Mb Array (with XTX Technology) process agreement
Jun Apr Dec Feb Oct Q2 mid
18 19 19 20 20 21 21
Process Signed Letter of Memory module
Optimisation Intent with SiEn ready for
Demonstrated endurance of 1M and manufacture
Retention of 10 years at 130-150 [o] C
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PROGRESSING TO COMMERCIALISATION

Discrete Memory Chip Roadmap

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Selector electrical
Material Technology
behaviour
improvement Memory array
development
optimisation
integration
2019 Q3
2017 2018 2022 2023 2024
2020 2021
Selector 1 bit of Demonstrate
single bit selector + ReRAM working array
demonstrated
demonstrated
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MASSIVE MARKET POTENTIAL

Discrete Memory Potential Market Biz model: Selling components Initial target: Replacing NOR Flash Embedded Memory Potential Market Biz mode: Licensing IP Initial target: Replacing embedded Flash

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COVID-19 IMPACT

 The safety and health of our employees, partners and contractors is of top priority

• We have taken measures to enable continuous operation, mostly from home

• Manufacturing and testing continue uninterrupted, while appreciating social distancing and other restrictions

• Travel restrictions continue to affect us

• We cannot send engineers to potential fabs and partners for demonstration purposes

• We cannot meet Leti, our research partner, for ongoing work and our annual planning week

• All business travels are replaced with video conferencing, which is less effective

• Subject to COVID-19 travel restrictions not creating any delays, we are still aiming to secure a first commercial agreement by mid-2021

• Impacted communications between the Israeli and French R&D teams might slightly impact the memory module milestone date of June-21

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Questions

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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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