WEEBIT NANO LTD — Investor Presentation 2022

Oct 24, 2022

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ReRAM: Approaching the Tipping Point

Goldman Sachs 6[th] Annual Emerging Technology Conference October 2022

Who We Are

Leading developer of innovative memory technologies Bringing to market Weebit ReRAM – next-generation NVM technology Enabling a new era of intelligent connected devices

Global NVM Market (US$B)*

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Founded: 2015

Located in Israel & France ASX: WBT

Current business model IP licensing to semiconductor companies & fabs

R&D partner

CEA-Leti, leading microelectronics research institute

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Signed 1st commercial deal Ongoing discussions with additional fabs and customers

World-leading team 50 personnel* (90% engineers/ scientists)

Silicon-proven technology Proven in >1000 wafers to-date Volume production expected 2023

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100
10.84%
CAGR
54
2020 2026
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NVM = Non-Volatile Memory
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* Includes employees and full-time contractors

• Source: MarketsandMarkets; company data

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Strong Board with World-renowned Semiconductor Industry Experience

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David (Dadi)
Dr. Yoav Atiq Raza Fred Bart Ashley Krongold Coby Hanoch
Perlmutter
Nissan-Cohen NON-EXEC.
NON-EXEC. NON-EXEC. CEO
CHAIRMAN EXEC. DIRECTOR DIRECTOR DIRECTOR DIRECTOR
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Strong and Experienced Management

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Coby Hanoch
CEO
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Ishai Naveh Amir Regev Ilan Sever Eran Briman Alla Felder
CTO VP TECH. VP R&D VP MARKETING & CFO
DEVELOPMENT BUSINESS DEV.
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Increasing Global Semiconductor R&D Investment

Geopolitics driving countries to invest locally in semiconductor R&D

US CHIPS Act / EU Chips Act to boost new fab construction & advanced R&D in these regions US CHIPS NVM a key area of investment globally Act

Semiconductor companies & foundries announce capacity investments over time

TSMC	Intel	Samsung	Micron
$100B	$40B	$345B	$150B

Government Investments & Incentives	Government Investments & Incentives	Government Investments & Incentives
United States	$52B +	8 new fabs
European Union	$43B +	4 new fabs
China	$150B +	10 new fabs
Korea	$260B +	5 new fabs
Taiwan	$120B +	10 new fabs
Japan	$6B +	5 new fabs
India	$10B +	1 new fab
Singapore	$5B +	1 new fab

08.23.2022 First 3-year period of double-digit CapEx 07.22.2022 growth in semi industry since 1995

◆ Memory = 35% of fab equipment spending 2022-2023

• Memory + foundry represent most of the capacity increases – SEMI, March 2022

Sources: SIA 2/2022, EE Times, 5/2022; Android Headlines 6/2022, FIERCE Electronics 7/2022 and 8/2022; Brookings.edu 8/2022Tom’s Hardware 8/2022; WSJ 8/2022

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Embedded ReRAM Market – Approaching the Tipping Point

Embedded ReRAM Market Size 2021 - 2027

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$957m
94%
CAGR
$168m
$18m
2021 2024 2027
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Embedded emerging NVM market expected to reach $2.9B by 2027 ReRAM expected market share: 33%

Embedded memory is a clear differentiator for semiconductor companies 8th July 2022

Source: Yole Emerging Non-Volatile Memory 2022 Note: The embedded emerging NVM market size is evaluated based on assumptions of the average chip area occupied by a given memory technology (Yole)

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The Weebit ReRAM Advantage

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3-4x

Lower added wafer cost vs. flash

• 2-mask adder

• Standard materials

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~100x

Faster access time than flash

• Bit/byte addressable

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>100x

Better endurance

Vs. flash

• 10[5] -10[6] P/E cycles

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175 ° C

Reliability for up to 10 years

• Endures 9 SMT reflow cycles

1 Refers to ReRAM cell array

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~100x

More energy efficient vs. flash

• Low voltage, low currents

• Zero standby power

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~350x

Better radiation tolerance vs. flash[1]

• Also tolerant to EMI

<40nm

Scales to processes far below limits of flash

• Proven @ 28nm

• Scaling to 22nm

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0

Interference w/ analog

• & power devices

• Best NVM for PMIC & mixed-signal

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Targeting Growing Markets

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Analog/Mixed Signal & Power Management

Analog Semiconductors 2020-2022 $57B  $83B (20.7% CAGR)

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Automotive Applications

Automotive Semiconductors 2020-2026 $34B  $78B (14.75% CAGR)

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Internet of Things

IoT Semiconductors 2020-2025 $33B  $80B (19% CAGR)

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Edge AI Applications

Edge AI Chipsets 2021-2026 $8B  $28B (28% CAGR)

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Aerospace & Defense

Aerospace & Defense Semiconductors 2019-2027 $5.8B  $8.6B (5% CAGR)

* Sources (in order top to bottom): IC Insights 2022; Yole 2021 (CASE Semiconductors); IoT Analytics Feb 2021; ABI Research June 2021; Transparency Market Research 2019

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Significant Progress in Last 12 Months
OCT 2022
ReRAM selector
AUG 2022 can achieve high
Good initial densities needed
JUL 2022
28nm qual results for discrete &
Tape-out of of ReRAM IP embedded
JUN 2022 IP module to
module applications
ReRAM IP SkyWater
MAR 2022 module fully foundry; first
Scaling the functional, live tape-out to
NOV 2021 technology to demonstration commercial fab
Raised further 22nm FD-SOI
OCT 2021
A$35m; well
Demonstrated
funded to 2024
1Mb ReRAM
arrays in
28nm FD-SOI
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Qualification process explained here: https://www.weebit-nano.com/reram-qualification/

ReRAM Modules Now in Qualification

Qualification is a formal testing sequence to show technology maturity, defined by industry bodies Key requirement before mass production

Weebit now qualifying its first ReRAM module Demo chip implemented in actual silicon

Initial results are better than normally expected at this phase

Good data retention before and after cycling Endurance test results up to spec Demonstrating high temp stability by passing 3x SMT

Positive industry reaction to initial qual results Final qualification results expected by end 2022

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Significant Milestones Toward Commercialisation

SkyWater Technology (Nasdaq:SKYT) – only US-owned pure-play silicon foundry – taking Weebit ReRAM to volume production

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First tape-out of Weebit Initially available in 130nm: sweet
ReRAM to a production fab spot for analog/ mixed-signal designs
Completed
Signed technology First ReRAM Qualification Weebit IP to
agreement transfer to demo chips to be be available
September US released to completed for SkyWater
2021 production manufacturing Q1 2023 customers
fab
A major milestone for
Weebit’s commercialisation
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President Biden holding a SkyWater wafer; Source: NBC News, April 12, 2021

Once chips are received back from the fab, SkyWater customers can use them for testing & prototyping ahead of qualification

After qualification, SkyWater customers can embed Weebit ReRAM IP in new product designs

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Scaling Weebit ReRAM to 22nm

Addresses the need for new NVM at one of the industry’s most common process nodes

Collaborating with CEA-Leti to design a full IP memory module targeting an advanced 22nm FD-SOI process

FD-SOI: high performance at very low voltage/ low leakage; broadly adopted by the industry

Rapidly accelerating plans to scale Weebit ReRAM to advanced nodes

Where existing embedded flash technology is no longer a viable option

Serving applications including IoT, 5G and AI Weebit ReRAM + FD-SOI is ideal for low-power embedded devices

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Mid-Term Strategy: Discrete ReRAM Chips

Weebit is working with CEA-Leti to develop discrete (stand-alone) memory chips

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Co-developing specialised miniature selector technology Small selector is needed to enable the smallest ReRAM cells  highest density memory chips

Achieved Weebit’s first operational crossbar ReRAM array Integrates Weebit ReRAM cell + specialised selector Crossbar arrays are needed for 3D stacked arrays  even higher densities

Broad range of applications for stand-alone chips

Storage class memory (SCM), persistent memory, NOR flash replacement AI (in-memory & neuromorphic computing)

New patents filed

Protecting innovative selector technology and cell programming

Recent News:

Progressed selector development to fit discrete & embedded applications with standard tools & materials

Greatly increases the number of possible applications for Weebit ReRAM

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Weebit ReRAM: Advantages for AI Applications

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Today: A better solution for artificial neural networks (NNs)

Tomorrow: Brain inspired AI systems enabling Neuromorphic Computing

• AI is bandwidth-intensive for memory usage in both inference and training

• ReRAM physically resembles a biological brain synapse; has functional similarities

• Weebit ReRAM: scaling to 22nm/below allows significantly lower power and higher performance (flash cannot scale below 40nm)

• Emulating NNs with ReRAM consumes orders of magnitude less power than today’s NN simulations

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Looking Ahead Milestones by the end of CY22

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Proceeding with advanced qualification stages at SkyWater’s U.S. fab

Provide qualification results of our embedded ReRAM module

Sign new agreements with partners and customers

Continue scaling down technology to smaller geometries

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Key Takeaways

The semiconductor industry is nearing the tipping point of moving to a new embedded NVM technology

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The industry needs a new Non-Volatile Memory solution

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Weebit ReRAM has unique advantages; well positioned to replace flash

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Strong tech progress: first tape-out to production fab; tech proven across multiple geometries

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Board On track to & management deliver a have extensive production semiconductor solution across a commercialisation range of experience high-growth markets

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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 nor 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 data from various independent research firms and industry associations as noted, 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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Thank You! www.weebit-nano.com

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