D-Wave Overview

1. D-Wave Overview Vern Brownell, CEO

2. About D-Wave High margin, high growth system sales, service and cloud services business • Founded in 1999 • Premier First Customers • 100 US patents granted; over 60 scientific papers published Raisedover $130M in venture funding and government grants since inception

3. Mission We help solve the most challenging computing problems in the universe. Anomaly detection Mission planning Cancer research Search for exoplanets Systems Optimization

4. Why Build a Quantum Computer? • Solve high-value commercial and scientific problems that can’t be solved today • Solve complex problems orders of magnitude faster • We have demonstrated 10,000 – 100,000x speedups

5. Addressable Market Defense/Gov’t Labs Bioscience 2014 2014 Big DataMarket $16.1B HPCMarket $12.6B $10B Universities Big Data TAM 2014Supercomputing $6.2B 2014Servers as % ofBig Data $4.6B Energy/GeoScience Finance Source: IDC

6. Target Industries Intelligence Defense Web National Labs Finance Energy Universities

7. D-Wave TwoTM Quantum Computer

8. Exploits quantum mechanical effects Built around “qubits” rather than “bits” Operates in an extreme environment Enables quantum algorithms to solve very hard problems What is a Quantum Computer? Quantum Processor

9. Power and Cooling • Closed cycle dilution refrigerator (“fridge”) • Fridge + servers consume 15.5kW • Power demand will remain constant as we scale up to thousands of qubits

10. Processor Environment • Cooled to 0.02 Kelvin, 150x colder than interstellar space • Shielded to 50,000× less than Earth’s magnetic field • On low vibration floor • 168 i/o and control lines from room temperature to the chip

11. Mathematical Programming Optimization Benchmarks Median Time to Find Best Solution Timing Benchmark – Smaller is Better Commercial solvers (Log scale) D-Wave Two

12. Mathematical Programming Optimization BenchmarksTime to solve 25% of the most complex problems Timing Benchmark – Smaller is Better Commercial solvers (Log scale) D-Wave Two

13. The Most Advanced Quantum Computer in the World 10,000 1,000 100 10 1 D-Wave One 128 qubit NumberofQubits D-Wave Two 512 qubit 28 qubit 16 qubit 4 qubit 2014 2010 2006 2002

14. Rankedfourth in patent power for computer systems by IEEE D-Wave patents cover broad range of domains • superconductingqubits • quantum processor • magnetic shielding • cooling • software • algorithms

15. A Brief History Concept and Design Science and Engineering Commercialize and Scale Intellectual Property Aggregation

16. Go-to-Market Model • Joint collaboration with strategic customers (e.g. Lockheed Martin, NASA, Google) • Focus on key verticals: • Defense/Intelligence – direct and through integrators • Web 2.0 – image / pattern recognition, machine learning • National laboratories • Universities • Financial Services – risk modeling, trading strategies • Energy • Provide broader access via Quantum Cloud

17. Customers Lockheed Martin

18. Customers Google

19. Customers NASA Ames

20. Business Model • System sales, services, solution-based subscription contracts • Multi-year subscription contracts (3 to 5 years) • Creates deferred revenue on balance sheet • Annual upfront billing • Professional Services and maintenance revenues streams • Focus on long term growth opportunity • Primarily a direct sales effort

21. D-Wave Executive Team

22. Supported by World Class Investors International Investment and Underwriting

23. Quantum computing will help solve the world’s most challenging computing problems D-Wave is the world leader in producing a scalable quantum computer D-Wave has sold and installed its first two D-Wave Twosystems Typical system services engagement is $8-10M over 3 years, not including professional services D-Wave will develop “Quantum Cloud” model, with unprecedented energy efficiency built upon existing capability Summary

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