Slide 1: Investor Presentation January 2022
Investor Presentation January 2022
Slide 2: Cautionary Notes
Cautionary Notes This presentation (“Presentation”) is for informational purposes only. This Presentation shall not constitute an offer Combination. Viewers of this Presentation should each make their own evaluation of Rigetti and of the relevance and to sell, or the solicitation of an offer to buy,
Slide 3: Cautionary Notes (continued)
Cautionary Notes (continued) Use of Projections - This Presentation contains projected financial information. Such projected financial information party may rely upon will be that in such representations and warranties as may be contained in a definitive constitutes forward-looking information, and
Slide 4: Chad Rigetti, PhD Founder and CEO; Taryn Naidu COO
Chad Rigetti, PhD Taryn Naidu Founder and CEO COO ● Founded Rigetti Computing in 2013 as the first company focused on ● Former CEO, Rightside (Nasdaq: NAME) developing universal, gate-model quantum computers ● EVP Demand Media, IPO 2011 ● Raised $200M+ in venture funding and recruited world class bo
Slide 5: Mission: Build the world's most powerful computers
Mission: Build the world’s most powerful computers to help solve humanity’s most important and pressing problems. 5
Slide 6: Pioneering industry leadership and operational execution
Pioneering industry leadership and operational execution 2014 2016 2018 2020 Invented & patented Rigetti Fab-1 is First chemically Selected to build first hybrid quantum-classical commissioned as the accurate simulation commercial quantum co-processor architecture first and only dedicated on a cloud
Slide 7: Pioneering industry leadership and operational execution
Pioneering industry leadership and operational execution 2021 Rigetti 80Q 2018-2020 Rigetti 16Q 2015 Rigetti 3Q 2017-2018 2019-present Rigetti 4Q/8Q Rigetti 32/40Q 7
Slide 8: Quantum computing is a world-changing opportunity
1 Quantum computing is a world-changing opportunity. 8
Slide 9: One quantum computer could be more powerful than today's entire global cloud
In the next decade one quantum computer could be more powerful than today’s entire global cloud. 9
Slide 10: Potential to unlock solutions to the most pressing and important problems
Computer Vision Potential to Hypersonic Simulation Computational Fluid Dynamics unlock solutions to the most Artificial Intelligence In-silico Drug Discovery pressing and important problems while creating Climate Simulation Portfolio Optimization unimagined opportunities Cybersecurity Supply Chain O
Slide 11: Harnessing nature's operating system unlocks exponential computational power
Harnessing nature’s operating system unlocks exponential computational power Classical Bits Quantum Bits (Binary) (Qubits) Either 0 or 1 Both 0 and 1 at the same time Solves problems by evaluating Solves problems by evaluating solutions sequentially. solutions simultaneously. 11
Slide 12: Harnessing nature's operating system unlocks exponential computational power
Harnessing nature’s operating system unlocks exponential computational power e.g., computing power needed to discover the next penicillin A classical computer with more A quantum computer transistors (1086) than there are with 286 qubits atoms in the observable universe Source “Will Quantum Computin
Slide 13: Enhance human health and longevity
Enhance human health and longevity Problem Developing treatments for leading causes of death requires understanding the biochemical properties of potential therapies.1 Constraint Exact modeling of molecular and materials properties grows exponentially with each added atom. Quantum Solution Direct qu
Slide 14: Clean energy from the same reactions that power the sun
Clean energy from the same reactions that power the sun Problem Reliance on fossil fuels is accelerating climate change. Global energy use is expected to increase by 50% by 2050.1 Constraint Energy production in fusion reactors requires compressing plasma into extreme conditions where quantum effect
Slide 15: Increase the speed and accuracy of market insights
Increase the speed and accuracy of market insights Problem Optimizing investment positions and pricing decisions depends on accurate quantitative models that can swiftly respond to changing market conditions. Constraint Realistic models incorporating available data can be too slow and expensive to i
Slide 16: Classical computers have hit fundamental limits
Classical computers have hit fundamental limits Performance of classical processors since 1980 Diminishing returns Amdahl’s “Moore’s Law has finished.” Law 2x / 20 yrs End of - Jensen Huang, 2019 (3% / yr) CEO, NVIDIA Processor performance Dennard 2x / 6 yrs scaling (12% / yr) Multicore 2x / 3.5 yrs
Slide 17: Massive untapped demand when quantum computers meet requirements
Massive untapped demand when quantum computers meet requirements for practical workloads $850B Requirements for practical workloads Scale: >1000 qubits Error Rates: < 0.5% Clock Speed: >1 MHz Fully Programmable & Universal (run general quantum algorithms) Manufacturable $100B Co-processor $40B (can
Slide 18: Rigetti scalable chip technology can unlock the market
2 Rigetti scalable chip technology can unlock the market. 18
Slide 19: Proprietary modular chip architecture eliminates key scaling roadblocks
Proprietary modular chip architecture eliminates key scaling roadblocks Typical Quantum Chip Proprietary Quantum Chip Single-chip processors Large-scale processors built from identical tiles ● Entire re-design with each generation ● Modular ● Component yield requirements increase ● Manufacturable ex
Slide 20: Proprietary technology unlocked by 6+ years of fab-driven innovation
Proprietary technology unlocked by 6+ years of fab- driven innovation 21 patents pending and issued1 Pictured: Rigetti modular, multi-chip quantum processor Superconducting caps Superconducting TSVs Interchip Coupling Developed 2015 - 2018 Developed 2016 - 2019 Developed 2018 - 2021 Facilitates scal
Slide 21: Modular system architecture designed for rapid scaling to advantage and beyond
Modular system architecture designed for rapid scaling to advantage and beyond Large Scale Fault Tolerance Advantage Scale Performance Broad Quantum Advantage Narrow Quantum Advantage Multi-chip Processor 2018 2019 2020 2021 2021 2024 2026 Beyond In development In development In development 8Q 16Q 3
Slide 22: Distinctive quantum chip manufacturing drives core value creation
Distinctive quantum chip Rapid design-fab-test iteration loops and short production cycles create compounding advantages over time manufacturing drives core value creation 5–15 Typical 17–30 MEMS Typical 22–40 Semiconductor 0 10 20 30 40 50 Processing Lead Time (weeks) Leading research institutions
Slide 23: Rigetti is positioned to be the industry leader
3 Rigetti is positioned to be the industry leader. 23
Slide 24: Technology advantages can give Rigetti a larger market opportunity than competitors
Intrinsic and durable technology advantages can give Rigetti a larger market opportunity than competitors >100x speed advantage enables solutions to a broader set of practical problems1 e.g., market trajectory analysis for portfolio optimization Current deployed systems Future systems running error
Slide 25: Rigetti is poised to win the race to critical inflection points
Rigetti is poised to win the race to critical inflection points Narrow Broad Quantum Quantum Advantage2 Advantage2 Potential Revenue1 2022 2024 2026 R&D Quantum Machine Learning Quantum Simulation Optimization Narrow Quantum Advantage Broad Quantum Advantage Solve a practical, operationally relevant
Slide 26: Partners + customers recognize Rigetti technology leadership
Partners + customers recognize Rigetti technology leadership Rigetti is the lead industry partner of a US Quantum Information Research Center Superconducting Quantum Materials and Systems Center: ● One of five national DOE QIS Research Centers ● Five-year, $115M effort ● 20 partner institutions with
Slide 27: Strategic IP portfolio 130+ patents and applications
Strategic IP portfolio 130+ patents and applications Patent portfolio is designed to:1,2 Key patented technology areas ▪ Protect Rigetti full-stack technology across hardware, Quantum computing From hybrid quantum-classical computing and low-latency software and services systems, software cloud plat
Slide 28: World-class technical talent drives culture of innovation
World-class technical talent drives culture of innovation 130+ 100+ 40+ 1K+ Employees Technical staff PhDs Peer reviewed publications PhDs from: 28
Slide 29: Extraordinary founder-led leadership team and board
Extraordinary founder-led leadership team and board Management team Current board members / select advisors Chad Rigetti Taryn Naidu Brian Sereda Rick Danis David Cowan Alissa Ray O. Founder, CEO COO CFO General Counsel Bessemer, Co-founder Fitzgerald Johnson of Verisign, Midas List AMFitzgerald & F
Slide 30: Rigetti Quantum Cloud Services delivers capability for practical workloads
Rigetti Quantum Cloud Services delivers the capability for practical workloads to the mainstream market Enterprise Academia Startups Government Pure Play Advantage Energy Logistics Rigetti plans to grow its Pharma Finance partnerships with the existing cloud and HPC Cirq Qiskit PyQuil Jupyter Mathem
Slide 31: Financials and transaction overview
4 Financials and transaction overview. 31
Slide 32: Positioned for explosive revenue growth
Positioned for explosive revenue growth Summary forecasted financial data ($M) Revenue CAGR: 140% (2022-2026) 594 600 Narrow Broad Key Growth Drivers: Quantum Quantum Advantage1 Advantage1 ● Achieving quantum advantage 480 ● New production system releases ● Maturing quantum ecosystem 380 360 288 Com
Slide 33: Rapidly increasing revenue per customer and system
Rapidly increasing revenue per customer and system 2026 QCaaS Demand Projections 2026 QCaaS Delivery Projections Number of Revenue per Description customers customer Deep full-stack QCaaS integration of Direct workloads through 100+ $0.8 - $13M Customers QCS Partnered QCaaS distribution Distribution
Slide 34: Transaction Summary
Transaction Summary Transaction overview Pro forma valuation ($M, except per share data) • Highly attractive opportunity to invest at the inflection point Initial shares outstanding3 155.0 • Attractive entry multiple relative to public peers and recent transactions Price per share $10.00 • $1,152M p
Slide 35: Upon closing, Rigetti will trade under the symbol RGTI
Upon closing of the transaction, Leading Investors Rigetti will trade on the under the symbol RGTI. Leading Customers and Partners We believe Rigetti is poised to be the global leader in quantum computing and can have a Fully Capitalized Balance Sheet profound positive impact on Transaction allows R
Slide 36: World-changing opportunity, winning technology, distinctive approach
World-changing opportunity Massive untapped revenue opportunity expected to exceed current HPC and cloud hardware markets. Winning technology Superconducting quantum computers have the most qubits, the lowest error rates, and are scaling the fastest. Distinctive approach Proprietary chip architectur
Slide 37: Rigetti
rigetti
Slide 38: Recent business updates
5 Recent business updates. 38
Slide 39: World's first multi-chip quantum processor
World’s first multi-chip quantum processor Rigetti introduced its next-generation “Aspen-M” 80-qubit quantum computer into private beta in December 2021. Aspen-M is the world’s first multi-chip quantum processor, solving a critical scaling challenge to achieve quantum advantage. The Aspen-M processo
Slide 40: Rigetti partners with Azure Quantum
Rigetti partners with Azure Quantum Rigetti announced in December 2021 that it is bringing Rigetti quantum computers to Azure Quantum When the Rigetti system becomes available on Azure Quantum, it will be the largest quantum computer available on Azure Quantum. The addition of Microsoft Azure to Rig
Slide 41: Rigetti awarded DOE contract for quantum simulation
Rigetti awarded DOE contract for quantum simulation Rigetti will collaborate with Lawrence Livermore National Laboratory and the University of Southern California on a three-year, $3.1 million project “The pursuit of fusion energy is one of the most challenging programs of scientific research and de
Slide 42: Rigetti partners with PlanQK
Rigetti partners with PlanQK In December 2021, Rigetti announced partnership with PlanQK, a German consortium that joins end users with quantum hardware PlanQK consortium members include D- Fine, Deutsche Bahn, QAR-Lab of Ludwig Maximilian University Munich (LMU), University of Stuttgart and StoneOn
Slide 43: Rigetti partners with Deloitte and Strangeworks
Rigetti partners with Deloitte and Strangeworks In December 2021, Rigetti announced a collaboration with Deloitte and Strangeworks to develop quantum applications on Rigetti systems “As quantum computing continues to advance, organizations should explore the potential of quantum technologies to unde
Slide 44: Risk Factors
Risk Factors Certain Risks Related to Rigetti & Co, Inc. - All references to the “Company,” “Rigetti,” “we,” “us” or “our” in this ● Rigetti relies on access to high performance third party classical computing through public clouds, high presentation refer to the business of Rigetti & Co, Inc. The r
Slide 45: Risk Factors (continued)
Risk Factors (continued) ● Rigetti’s international sales and operations subject it to additional risks and costs, including the ability to engage ● Rigetti may become subject to product liability claims, which could harm its financial condition and liquidity if it is not with customers in new geogra