WEEBIT NANO LTD — Investor Presentation 2023

Jul 31, 2023

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ReRAM: Now in Commercialisation August 2023

Weebit: Leading Licensor of ReRAM IP

Advanced Non-Volatile Memory (NVM) Now Entering Production

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Founded: 2015 Located: Israel & France ASX: WBT

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World-leading team 50 personnel [(1)] (90% engineers/scientists)

R&D partner CEA-Leti, a leading microelectronics research institute

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• Source: MarketsandMarkets, December 2022

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Signed 1[st] commercial deal Ongoing discussions & evaluations with additional foundries and customers

Greener NVM Lower environmental impact then other types of NVM (CO2, resource use, materials)

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

Global NVM Market* (US $B)

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124
10.7%
CAGR
74.6
2022 2027
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Recently added to
S&P/ASX 300
Global Small Cap Index
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(1) Includes employees and full-time contractors

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Copyright 2023 Weebit Nano, Ltd.

Meeting Milestones & Advancing Towards Sustained Growth

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Weebit ReRAM Research shows Weebit ReRAM shown to be Weebit ReRAM fully qualified in more ecofriendly insensitive to SkyWater S130 than MRAM ionizing radiation process NOV 2022 JAN 2023 JAN 2023 MAR 2023 APR 2023 JUN 2023 JUL 2023 First productionTaped out first Raised further Weebit ReRAM fab wafers demo chip in $60M; well qualified integrating Global Foundries funded for future at 125⁰C Weebit IP 22nm FD-SOI growth process

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2023 → 2024

• ➢ Initial revenue by end of CY 2023

• ➢ Sign a Tier-1 fab

• ➢ Close initial customer agreements

• ➢ Qualify technology for higher endurance

• ➢ Continue R&D ➢ Continue technology scaling

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Copyright 2023 Weebit Nano, Ltd.

Strong Board With World-renowned Semiconductor Industry Experience

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David (Dadi)
Perlmutter Dr. Yoav Atiq Raza Mark Licciardo Ashley Krongold Coby Hanoch
Nissan-Cohen NON-EXEC. NON-EXEC. NON-EXEC. CEO
CHAIRMAN EXEC. DIRECTOR DIRECTOR DIRECTOR DIRECTOR
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Copyright 2023 Weebit Nano, Ltd.

Strong & Experienced Management

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Coby Hanoch
Ishai Naveh Amir Regev Ilan Sever Eran Briman Alla Felder
CEO
CTO VP TECH. VP R&D VP MARKETING & CFO
DEVELOPMENT BUSINESS DEV.
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Copyright 2023 Weebit Nano, Ltd.

AI at the Edge is Driving the Need for New Memory Technologies

AI inference is increasingly local (edge), driven by:

• Power efficiency

• Ultra-low latency

• Low bandwidth

• Security/privacy

• Smarter products; new applications

Machine learning (ML) in IoT sensors & devices is growing rapidly

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TinyML Devices Installed Base
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14
11B+ Devices
12
10
8
6
4 2B Devices
2
0
2022 2023 2024 2025 2026 2027
Billions
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AI/ML training and inference models continue to increase in size & sophistication → Need higher density embedded memories, in more advanced process nodes

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Today’s 2 chip solution 1 chip with emb. ReRAM
CPU I/Os CPU I/Os
System RAM System RAM
NVM
SRAM
AI Engine AI Engine (ReRAM)
Neuromorphic computing
NVM (Flash)
CPU I/Os
Embedded ReRAM: In-Memory-
System
Compute AI
RAM
Lower power; Engine
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Embedded ReRAM:

• Lower power; longer battery life

• Lower cost; reduced SRAM

Source: https://go.abiresearch.com/lp-37-technology-stats-you-need-to-know-for-2023

• Enhanced security

• System integration

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Copyright 2023 Weebit Nano, Ltd.

Weebit ReRAM Memory Inherent Advantages

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100x ~100x
Better endurance More energy efficient
vs. flash vs. flash
10 [5] -10 [6] P/E cycles Low voltage, low currents
Zero standby power
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°
150 C
Reliability for up to
10 years
Endures 9 SMT reflow
cycles
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<40nm
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Scales to processes far below limits of flash Proven @ 28nm Scaling to 22nm & below

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~100x
Faster programming
time than flash
Bit/byte addressable
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~350x
Better radiation
tolerance vs. flash [(1)]
Also tolerant to EMI
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3-4x
Lower added wafer
cost vs. flash
2-mask adder
Standard materials
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53%
Less minerals and metals
resource use vs. MRAM
Greener technology
No rare earth materials
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(1) Refers to ReRAM cell array

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Copyright 2023 Weebit Nano, Ltd.

Weebit ReRAM Addresses a Broad Range of Application Requirements

	Mixed-Signal / Power Mgmt		IoT / MCUs		Edge AI		Automotive		Aerospace & Defense		Medical
Example Applications:	Wireless charging; Motor control		Wearables; Smart cards		Security cameras; Industrial		ECUs for sensors & controllers		Flight safety systems; Satellites		Implantables; Hearables; Disposable
Back-end-of-line tech for easy analog integration
Cost-efficiency
Ultra-low power consumption
Robustness in high temp / extreme environments
Scaling advantage at 28nm and below
High endurance
Small footprint to store very large arrays
Longevity
Roadmap to neuromorphic computing

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Copyright 2023 Weebit Nano, Ltd.

Weebit is Addressing Both Segments of the Non-Volatile Memory Market

	Embedded Memory Embedded Memory Part of an SoC (System-on-a-Chip)	Discrete Memory Chip Contains only memory
	Embedded memory modules (with ReRAM IP): immediate opportunity	Discrete (stand-alone) memory chips: short/mid-term opportunity
Volatile Memory (Erased when power removed)	SRAM	DRAM
Non-Volatile Memory (NVM) (Retained when power removed)	eFlash ReRAM MRAM OTP/MTP	NAND Flash NOR Flash ReRAM MRAM EEPROM
Business Model	Licensing License fees + NRE + Royalties	Product Sell chips

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Copyright 2023 Weebit Nano, Ltd.

Embedded ReRAM Market – Approaching the Tipping Point

The embedded emerging NVM market is expected to reach $2.7B by 2028, with ReRAM expected to represent 37%*

Total MCU shipped units by 2028*

Market Volume in # of Eq. 12" Wafers 2028*

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Without Wafers 2028
embedded emerging
NVM 97%
With embedded
emerging NVM 3%
ReRAM: 60% Embedded
ReRAM
of wafer
volume Embedded
2028 2028 2028 by 2028 MRAM
~36 Bu ~1 Bu ~1 Bu Embedded
PCM
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• Source: Emerging Non-Volatile Memory report, Yole Intelligence, 2023

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Copyright 2023 Weebit Nano, Ltd.

Foundry-centric IP Business Model for Embedded Market

Foundry offers the IP to customers; collects up-front use fees from customers Foundry pays royalties based on % of wafer price

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License fee
Process NRE
Royalties from customer Use fees
Use fees Design NRE
Annual support &
maintenance Product
Foundries
Companies
Intel, GlobalFoundries,
Nvidia, AMD, Broadcom,
Samsung, Skywater
Intel, Samsung,
Process IP Technologies, TSMC, and others
Silicon wafers
Design IP and others
Weebit design IP
Process transfer
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Copyright 2023 Weebit Nano, Ltd.

3-Way Business Model

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Foundries Silicon wafers Wafer cost (including ReRAM)

• ❖ License fees and royalties directly depend on memory size, technology type, # of instances, # of uses and other parameters

• ❖ Non-Recurring Engineering (NRE) is contingent on specific scope of work

Product Companies

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Copyright 2023 Weebit Nano, Ltd.

Weebit ReRAM Fully Qualified for Automotive-grade Temperatures

Major milestone using Weebit’s ReRAM memory module produced at CEA-Leti

Qualified module up to 125°C, Demonstrates the suitability of Based on qual results, Weebit the temperature specified for Weebit ReRAM for use in: ReRAM is being evaluated by automotive grade 1 ICs several Tier-1 fabs and customers ▪ Microcontrollers and other ▪ Qualified wafers for endurance automotive components ▪ Repeatability, uniformity and and 10yr retention per JEDEC ▪ High-temperature industrial and maturity of Weebit’s embedded industry standards IoT applications ReRAM Weebit is working with CEA-Leti and SkyWater to qualify Weebit’s ReRAM module at higher temperatures and endurance levels

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Copyright 2023 Weebit Nano, Ltd.

SkyWater Taking Weebit ReRAM to Volume Production

SkyWater Technology (Nasdaq:SKYT) is the only US-owned pure-play silicon foundry

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Weebit CEO Coby Hanoch holding a SkyWater wafer, November 8, 2022

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SEP 2021 JUN 2022 JUL 2022 MAR 2023 JUN 2023 Sign first end Customer Signed Completed Tape-out of Weebit ReRAM Fully qualified customer to wafers with agreement technology memory available in memory integrate our Weebit ReRAM transfer to US module S130 module ReRAM at in mass production fab SkyWater production

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Copyright 2023 Weebit Nano, Ltd.

Weebit ReRAM Scaling to Advanced Nodes

Clear opportunities for NVM at 22nm and below

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130nm
28nm
Decreased cost;
Increased density
Fully qualified and
production ready in
SkyWater S130 22nm
Demonstrated
with CEA-Leti
1xnm
Taped-out in
GlobalFoundries
22FDX
Being evaluated
with Tier-1 fabs
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Existing embedded flash technology is not a viable option

Serving various applications including IoT, 5G and AI

Recent development: taped-out ReRAM IP module in GlobalFoundries’ 22FDX ™ FD-SOI (fully depleted silicon on insulator) platform

Weebit ReRAM + FD-SOI is ideal for low-power embedded devices

“The work Weebit and CEA-Leti are doing to make Weebit ReRAM available on GlobalFoundries’ 22FDX is a welcome development as we continue to expand the ecosystem around this platform. Embedded NVM is a key element of our customers’ designs, but since embedded flash is difficult to scale below 28nm, many customers are looking to NVM solutions such as embedded ReRAM.” – Mike Hogan, Chief Business Officer

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Copyright 2023 Weebit Nano, Ltd.

Weebit is Engaged With Most Top-10 Foundries & IDMs

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In different levels of Top-10 Integrated Device Top-10 Foundries evaluation/negotiation Manufacturers (IDMs)[(1)]* with most of the top 1 TSMC 1 Samsung foundries / IDMs 2 Samsung 2 Intel Expect to sign an 3 UMC 3 SK Hynix agreement with a top manufacturer by end of 4 GlobalFoundries 4 Micron the year 5 SMIC 5 Texas Instruments 6 Hua Hong (HLMC) 6 Western Digital 7 PSMC 7 Infineon 8 VIS 8 STMicroelectronics 9 Tower 9 NXP 10 DB HiTek 10 Analog Devices

Sources: https://think.ing.com/articles/eu-chips-act-to-strengthen-europes-economy/; https://www.digitimes.com/news/a20220216VL200.html; https://www.gartner.com/en/newsroom/press-releases/2022-04-14-gartner-says-worldwide-semiconductor-revenue-grew-26-percent-in-2021; https://think.ing.com/articles/eu-chips-act-to-strengthen-europes-economy/; public data

(1) By 2021 revenue

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Copyright 2023 Weebit Nano, Ltd.

Discrete Market Segment Opportunity

The discrete (standalone chips) NVM market is very broad; numerous opportunities for Weebit ReRAM

Market		Applications		Opportunity	Weebit Advantages	Timeline
IoT, Medical, A&D NVSRAM and EEPROM(1) NOR Flash NAND Flash Storage Class Memory (SCM) Consumer, automotive & industrial Data storage: on-device or cloud-based Emerging market filling gap between DRAM & NAND storage $2B in 2021 1% CAGR 2021-2027 $3.5B forecast in 2022 63% growth in 2021 6% CAGR 2021-2027 $67B in 2021 6% CAGR 2021-2027 ~$925m in 2027 16% CAGR 2021-2027 ✓Die size ✓Cost ✓Ultra-low-power operation ✓Ultra-low standby current ✓Die size ✓Cost ✓Ultra-low power consumption ✓Endurance ✓Cost Short-term Low densities: short-term Med/high densities: mid-term Multi Gb dies: longer term

Weebit has various commercial routes to address the discrete market

Development / commercialization of own memory chips

Strategic partnerships with discrete foundries

Licensing technology to Tier-1 / Tier-2 silicon vendors

Sources:

https://www.yolegroup.com/product/report/status-of-the-memory-industry-2022/ https://www.yolegroup.com/product/report/emerging-non-volatile-memory-2022/ https://www.electronicsweekly.com/news/business/2021-market-63-2022-06/ (1) EEPROM = Electrically erasable programmable read-only memory

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Copyright 2023 Weebit Nano, Ltd.

Weebit Nano Key Targets for CY23

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Initial Revenue By end of CY 2023

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Qualification Qualify technology for even higher endurance

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Fab Partners
Sign with a Tier-1 fab
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Continue R&D Further technical enhancements to ReRAM cell and selector technologies

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Customers
Close initial agreements
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Scaling to 22nm
& below
Continue scaling the technology
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Copyright 2023 Weebit Nano, Ltd.

Weebit ReRAM: The Next NVM is Here!

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The industry needs Weebit ReRAM Strong tech Board & a new Non-Volatile has unique progress: management team Memory solution: advantages; well completed 3 full have extensive positioned to qualifications semiconductor Lower-power, replace flash in including 125°C commercialisation faster, cheaper, various markets automotive grade experience reliable in extreme temperature conditions

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Multiple customer engagements underway; First agreements within 2023

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Copyright 2023 Weebit Nano, Ltd.

Thank You! www.weebit-nano.com

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