Slide 1: Investor & Analyst Day September 16, 2022
• Slide introduces the speaker • Add QA Slide for end of each speaker Exhibit 99.2 Investor & Analyst Day September 16, 2022
Slide 2: Cautionary Notes: Forward Looking Statements
Cautionary Notes Forward Looking Statements: Certain statements in this presentation and accompanying videos may be considered forward-looking statements, including statements with respect to the Company’s outlook and expectations, including expectations for the planned release of the Company’s 84-q
Slide 3: Cautionary Notes
Cautionary Notes variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements
Slide 4: Cautionary Notes: Non-GAAP Financial Measures
Cautionary Notes Non-GAAP Financial Measures – To supplement Rigetti’s financial results and guidance presented in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP financial measures in this presentation. In particular, the Company presents Adjust
Slide 5: Investor & Analyst Day September 16, 2022
• Slide introduces the speaker • Add QA Slide for end of each speaker Investor & Analyst Day September 16, 2022
Slide 6: Why Quantum Computing?
Why Quantum Computing? We believe quantum computing holds the potential to … unlock exponential computing power at scale, magnitudes beyond today’s classical systems decouple computing power from energy consumption create opportunities for profound new knowledge and accomplishments for humanity driv
Slide 7: Quantum Computing is Today's Space Race
Quantum Computing is Today’s Space Race ● Geopolitical implications: US, EU, UK, China & Australia dedicated $20+ billion from 2019-2021 to quantum* ● Technical challenges: Requires deep, interdisciplinary technical expertise and systems engineering ● Fundamental human endeavor ● Partnerships betwee
Slide 8: Rigetti's Mission
Rigetti’s Mission: Build the world’s most powerful computers to help solve humanity’s most important and pressing problems. 8
Slide 9: Quantum Holds the Potential to Unlock New Possibilities
Rigetti Perspective: Quantum Holds the Potential to Unlock New Possibilities for example: Drug Efficient Climate Risk Discovery Transportation Simulation Management Cures to currently Conduct more accurate Increase economic Reduce fuel consumption untreatable diseases by weather modeling to prosperity
Slide 10: Competitive Moat Nearly Years in the Making
Competitive Moat Nearly 10 years in the Making We believe Rigetti’s early bets have led to its position as an industry leader Established Rigetti deploys 32-qubit system Commercial availability of Rigetti & Co, Inc. compute facility quantum computer launched on Amazon Aspen-M 80-qubit system, founde
Slide 11: Laser-focused on Quantum Advantage
Laser-focused on Quantum Advantage We believe Rigetti has developed the right strategy to reach advantage and ultimately be the standard in quantum. 11
Slide 12: Stages of Quantum Technology Maturation
Stages of Quantum Technology Maturation The Quantum Advantage Era Broad Quantum Advantage Solve currently intractable problems Narrow Quantum Advantage Solve practical problems in production workloads with improved accuracy, speed, or cost Emerging Quantum Advantage Explore use cases Build and bench
Slide 13: nQA and bQA as Critical Inflection Points
We View nQA and bQA as the Critical Inflection Points Broad Quantum Narrow Advantage Quantum Advantage R&D Quantum Machine Learning Quantum Simulation Optimization 1 Chart is not to scale and inflection points are based on the estimated revenue growth as a result of projected milestones in the Rigetti
Slide 14: Quantum Advantage: Our Central Focus
Quantum Advantage: Our Central Focus Quantum Focus: Quantum Machine Learning Advantage GTM Strategic Government and finance partners Business Model QCS Direct, Public clouds, and DoE Cloud Delivery System architecture An industry leader in speed Hybrid Processor architecture Unlocks performance at sc
Slide 15: Integrating Quantum into the Fabric of the Cloud
Integrating Quantum into the Fabric of the Cloud 15
Slide 16: Integrating Quantum into the Fabric of the Cloud: Power of the Cloud
Integrating Quantum into the Fabric of the Cloud Power of the Cloud 16
Slide 17: Integrating Quantum into the Fabric of the Cloud: Heterogenous
Integrating Quantum into the Fabric of the Cloud Power of the Cloud Heterogenous 17
Slide 18: Integrating Quantum into the Fabric of the Cloud: Customer-centric Workflow
Integrating Quantum into the Fabric of the Cloud Power of the Cloud Heterogenous Customer-centric Workflow 18
Slide 19: 19 Copyright Rigetti Computing 2022
19 Copyright Rigetti Computing 2022
Slide 20: Large untapped opportunity for quantum computers
Large untapped opportunity for quantum computers that meet requirements for practical workloads Requirements for practical workloads Next gen Scale: 100s to 1000s of qubits Error Rates: < 0.5% Next gen Clock Speed: >1 MHz Fully Programmable & Universal (run general quantum algorithms) Manufacturable
Slide 21: On Track to Deliver our 2023 Systems
On Track to Deliver our 2023 Systems TM TM Ankaa Lyra Expected in Expected in Early 2023 Late 2023 84-qubit single chip processor: 336-qubit multi-chip processor fourth generation chip designed leveraging 84Q Ankaa single-chip for higher fidelities and increased processor as tiling unit to qubit conn
Slide 22: Rigetti Roadmap Aims to Reach Quantum Advantage
1 Rigetti Roadmap Aims to Reach Quantum Advantage c.2018-2021 c.2022 c.2023 c.2024 c.2025 c.2026 c.2027+ Reference Applications & Libraries Quantum Software Applications Application Proofs of Applications Concepts Develop & Demonstrate Advantage-Capable Subroutines Public Cloud Access Direct & Hybri
Slide 23: Partnerships Help Accelerate our Path
1 Partnerships Help Accelerate our Path Applications Rigetti Access & QCS™ Production Direct Quantum Cloud TM Services (QCS ) Quantum Processing Units Chip Fabrication (Fab-1) 1 Prepared on the basis of certain technical, market, competitive and other assumptions which may not be satisfied. As a resu
Slide 24: Partnerships Help Accelerate our Path: NVIDIA
1 Partnerships Help Accelerate our Path Collaborating with NVIDIA on hybrid GPU-QPU workflow for Applications weather modeling Access & Rigetti Production QCS™ Quantum Cloud TM Services (QCS ) Quantum Processing Units Chip Fabrication (Fab-1) 1 Prepared on the basis of certain technical, market, comp
Slide 25: Partnerships Help Accelerate our Path: Microsoft Azure Quantum
1 Partnerships Help Accelerate our Path Applications Rigetti QCS™, which includes our current 40-qubit Aspen-11 and 80-qubit Aspen-M-2 Access & processors, is now available to all Microsoft Production Azure Quantum users in Public Preview Quantum Cloud TM Services (QCS ) Quantum Processing Units Chi
Slide 26: Partnerships Help Accelerate our Path: Keysight
1 Partnerships Help Accelerate our Path Applications Access & Rigetti Production QCS™ Rigetti and Keysight partnering to make Quantum Cloud TrueQ error mitigation software available in TM Services (QCS ) TM QCS Quantum Processing Units Chip Fabrication (Fab-1) 1 Prepared on the basis of certain tech
Slide 27: Partnerships Help Accelerate our Path: Bluefors
1 Partnerships Help Accelerate our Path Applications Access & Rigetti Production QCS™ Quantum Cloud TM Services (QCS ) Bluefors will deliver new modular dilution fridges to support our planned Quantum 336Q, 1,000Q+, and 4,000Q+ quantum Processing Units processing units Chip Fabrication (Fab-1) 1 Pre
Slide 28: Partnerships Help Accelerate our Path
1 Partnerships Help Accelerate our Path Applications Access & Rigetti Production QCS™ Quantum Cloud TM Services (QCS ) Quantum Processing Units Chip Fabrication (Fab-1) 1 Prepared on the basis of certain technical, market, competitive and other assumptions which may not be satisfied. As a result, the
Slide 29: President Kennedy moon quote
“We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to po
Slide 30: Today's Agenda
Today’s Agenda Presentation Title Speaker Approximate Time Strategic Overview Chad Rigetti, CEO 8:30am Greg Peters, CRO Go to Market & Strategic Partnerships • Despina Milathanaki, Sr. Dir. DOE 9:00am • Marco Paini, Dir. Tech Partnerships Product Roadmap Eric Ostby, VP Product 9:30am Quantum Cloud S
Slide 31: Go to Market & Strategic Partnerships
2. Go to Market & Strategic Partnerships
Slide 32: Focused Go-To-Market Strategy
Focused Go-To-Market Strategy Rigetti is building strategic partnerships in the public and private sectors to prove out use cases, advance its technology, and strengthen its growth foundation.
Slide 33: User Path to Quantum Advantage
Rigetti Perspective: User Path to Quantum Advantage Rigetti Focus Proof of Not yet Learning Advanced Operational Improved Concept Engaged Prototyping Quantum End-User KPIs Advantage Government: We believe quantum Commercial: We believe quantum advantage can drive mission advantage can create economi
Slide 34: Engaging Top-Tier Organizations
Engaging Top-Tier Organizations Our engagements are aligned with our roadmap and the goals of the customer Government Commercial Example characteristics of government contracts: Example characteristics of commercial contracts: Duration: 18 months to 60 months per program Duration: 12 months to 18 mo
Slide 35: Quantum Computing Industry Trends
Quantum Computing Industry Trends We believe that while the majority of We believe that a larger percentage of the spend for quantum computing is customer spend will become QCaaS in government-funded research as the industry approaches Quantum today, it will begin to transition to Advantage. commerc
Slide 36: Top-Tier Government Partners
Top-Tier Government Partners We work with renowned public organizations in pursuit of advancing quantum technologies and solving real-world problems.
Slide 37: Trusted Partner in the DoE Ecosystem
Trusted Partner in the DoE Ecosystem Mutual value creation opportunities for our DoE partners and Rigetti Educating the Future Quantum Workforce Applications Access & Production Rigetti’s Quantum Quantum Cloud Rigetti TM QCS™ Services (QCS ) Stack Direct Quantum Computing Summer School Quantum Proce
Slide 38: Lead Industry Partner in a US National Quantum R&D Center
Lead Industry Partner in a US National Quantum R&D Center Our Goals: Advance the state-of-the-art in superconducting quantum technology Title: Fermilab campus ● Extend qubit coherence through a deep understanding of critical (Credit: Fermilab) materials science problems 23 Institutional Partners Acc
Slide 39: Early QCaaS Partner of the Oak Ridge Leadership Computing Facility
Early QCaaS Partner of the Oak Ridge Leadership Computing Facility Providing Quantum Cloud Services to the Quantum Computing User Program (QCUP) ● Partnering with ORNL’s leading computing experts to deploy quantum computing capabilities ● Supporting a growing quantum computing community: academia, o
Slide 40: Quantum Machine Learning for finance is poised to be an early domain of quantum advantage
Rigetti Perspective Quantum Machine Learning for finance is poised to be an early domain of quantum advantage.
Slide 41: Quantum Computing for Finance
Quantum Computing for Finance We believe quantum computing can address many use cases 1 Finance industry opportunity Customer Experience ● Many hard computational problems Credit Scoring Operations ● Potential significant economic benefits from Analysis incremental improvements Multi-stage Customer Ar
Slide 42: Pursuing Value Creation for the Finance Industry
Pursuing Value Creation for the Finance Industry Taking a differentiated approach People ● Internal financial markets expertise enables deep understanding of customer needs Software ● Track record with financial clients Libraries Core Technology ● Colocation accelerates hybrid algorithms ● Leveraging o
Slide 43: Real-world application partnerships using Quantum Machine Learning
Real-world application partnerships using Quantum Machine Learning (QML) The Standard Chartered and Rigetti partnership has generated enhancements across the Rigetti stack, while providing Standard Chartered with a deeper understanding of QML capabilities and of the value of their datasets. Run on M
Slide 44: Expansion Focus
Expansion Focus Our expansion strategies include growing our government business while expanding into commercial opportunities and extending our geographic footprint
Slide 45: Quantum Information Science Spending is on the Rise
Quantum Information Science Spending is on the Rise 1 CHIPS and Science Act: $280B bill to boost technological competitiveness includes 2 $160M QUEST and $52B foundry support program 3 Quantum Technologies Challenge: $198M in grants for quantum computing startups 4 National Quantum Technologies Prog
Slide 46: Plan to Expand Our Customer and Partner Base
Plan to Expand Our Customer and Partner Base 2. Western Europe 3. Japan & Korea 3. SE Asia 1. 5-Eyes Alliance Presence in USA, Canada, UK and Australia Copyright Rigetti Computing 2022 46
Slide 47: Focused Strategy to Drive Growth
Focused Strategy to Drive Growth Selective QCaaS Scale with Expand Engagements Focus Opportunities Commercial Opportunities Seek opportunities that QCaaS is central ✔ Geographic Finance focus align with our intent to the solution ✔ Applications and capabilities Strong Foundation Gov’t Trusted Track
Slide 48: Question & Answer
Question & Answer rigetti
Slide 49: Today's Agenda
Today’s Agenda Presentation Title Speaker Approximate Time Strategic Overview Chad Rigetti, CEO 8:30am Greg Peters, CRO Go to Market & Strategic Partnerships • Despina Milathanaki, Sr. Dir. DOE 9:00am • Marco Paini, Dir. Tech Partnerships Product Roadmap Eric Ostby, VP Product 9:30am Quantum Cloud S
Slide 50: Product Roadmap
rigetti _ Product Roadmap
Slide 51: Multi-Year Roadmap: Integrated Full-Stack Roadmap
Multi-Year Roadmap: Integrated Full-Stack Roadmap Our product and technology roadmap is focused on accelerating towards quantum advantage.
Slide 52: Rigetti Roadmap Aims to Reach Quantum Advantage
1 Rigetti Roadmap Aims to Reach Quantum Advantage c.2018-2021 c.2022 c.2023 c.2024 c.2025 c.2026 c.2027+ Reference Applications & Libraries Quantum Software Applications Application Proofs of Applications Concepts Develop & Demonstrate Advantage-Capable Subroutines Public Cloud Access Direct & Hybri
Slide 53: Application Driven Approach to Quantum Advantage
Application Driven Approach to Quantum Advantage (QA) Broad QA Apps Narrow QA Apps Advantage-Capable Size Subroutine: Reference Apps Fidelity Non-simulatable quantum Emerging QA subroutines that can be Error applied to valuable problems. correction These subroutines are Advantage- required for nQA a
Slide 54: Optimization Illustrates Rigetti's Approach
Optimization Illustrates Rigetti’s Approach DARPA Program: Optimization with Noisy Intermediate Scale Quantum devices (ONISQ) ONISQ Phase 2 ONISQ Phase 1 Prototype Advanced Reference Prototype Application Rigetti QAOA Broad QA Apps internal Proof of Concept Narrow QA Apps Reference App 2019 2020 202
Slide 55: Quantum Advantage Strategy
Quantum Advantage Strategy Reference Advantage- capable 1 2 subroutines Applications Required for demonstrating Integrate technology Narrow and Broad Quantum into application for Advantage for valuable evaluating progress and use-cases engaging partners Error Mitigation Solution 4 3 4 and Correction
Slide 56: Building Reference Applications to Accelerate Progress
Building Reference Applications to Accelerate Progress Customers Full-scale ● Integrate all components necessary to use-case dataset achieve Quantum Advantage Hybrid Computation ● Broaden insights from prototype Quantum developments subroutine Classical Partners subroutines ● Continuously benchmarki
Slide 57: Focused on Useful Advantage-Capable Subroutines
Focused on Useful Advantage-Capable Subroutines Examples: QML Commercially Advantage-Capable Optimization Valuable Problem Subroutines Simulation 1,2 Sampling Low commercial Machine Learning³ value x Classically reproducible Beyond-Classical ¹Arute, Frank, et al. “Quantum supremacy using a programma
Slide 58: Improving Performance Using Error Mitigation
Improving Performance Using Error Mitigation ● Quantum algorithms must mitigate the impact of noise, even in fault-tolerance ● First 3rd party product integration with QCS ● Superconducting qubit platforms strongly benefit from error mitigation due to high ● TrueQ uses “randomized compiling” to data
Slide 59: Cautionary Notes: Forward Looking Statements
Cautionary Notes Forward Looking Statements: Certain statements in this video may be considered forward-looking statements, including statements with respect to Rigetti’s partnership with Ampere Computing, including the potential benefits to customers, the ability to bring the hybrid classical quantu
Slide 60: Scalability Expected to Unlock High Performance Error Correction
4 Scalability Expected to Unlock High Performance Error Correction ● Improve performance by using additional qubits to measure errors, then corrected through software Encode quantum Check logical qubit ● Scaling driven by superconducting qubit data into a single state for potential logical qubit err
Slide 61: Track Progress By Continuous Benchmarking
Track Progress By Continuous Benchmarking Going beyond core system performance metrics to solution specific KPIs Measuring progress towards Quantum Advantage ● Customers need to know how close they are to Quantum Advantage ● Select and operate their classical solution ● Focus on solution-specific benc
Slide 62: Rigetti's Integrated Roadmap Focused on Quantum Advantage
Rigetti’s Integrated Roadmap Focused on Quantum Advantage ● Building infrastructure and technology to achieve Quantum Advantage ● Offering products and services to help partners and customers in the same pursuit ● Integrated into the fabric of the cloud with QCS™ ● Foundation built on Fab-1 and QPU s
Slide 63: Today's Agenda
Today’s Agenda Presentation Title Speaker Approximate Time Strategic Overview Chad Rigetti, CEO 8:30am Greg Peters, CRO Go to Market & Strategic Partnerships • Despina Milathanaki, Sr. Dir. DOE 9:00am • Marco Paini, Dir. Tech Partnerships Product Roadmap Eric Ostby, VP Product 9:30am Quantum Cloud S
Slide 64: Quantum Cloud Services
4. Quantum Cloud Services 64
Slide 65: Hybrid quantum-classical computing architecture
Rigetti Perspective: The most powerful computers of tomorrow will leverage quantum processors as accelerators, in a hybrid quantum-classical computing architecture. Copyright Rigetti Computing 2022 65
Slide 66: QCS in Action: A Hybrid Application
QCS™ in Action: A Hybrid Application POC: Medical Image Recognition using Quantum Convolutional Neural Networks (QCNN) Hybrid Powered by QCS™ Internal Results Application Demonstrate higher accuracy High velocity development Off-line Machine Learning for medical diagnostic images integrated with real
Slide 67: What is Quantum-Classical Hybrid Computing?
What is Quantum-Classical Hybrid Computing? ● A classical program or Hybrid Quantum-Classical Computing System subroutine accelerated by a quantum subroutine Quantum Classical Computing System Computing System ● Performance is dependent (quantum subroutine) (classical program/subroutine) on the inte
Slide 68: QCS Delivering Hybrid Quantum Computing
QCS™ Delivering Hybrid Quantum Computing The Production Environment Hybrid Quantum Computing with QCS™ ● A distributed cloud hybrid Customer Cloud Hybrid Quantum-Classical computing system Computing System ● Customer resources located where the customer needs High ● High performance integration of P
Slide 69: Quantum Cloud Services (QCS)
Quantum Cloud Services (QCS™) Integrating Rigetti QPUs into the fabric of the cloud Public Rigetti Rigetti Cloud Quantum QCS™ Direct QCS™ Anywhere Services A complete, multi-regional, hybrid Supplying quantum processing QCS powering quantum services quantum cloud service directly from QCS™ to cloud
Slide 70: The QCS Stack
Rigetti Rigetti Public Clouds QCS™ Anywhere QCS™ Direct The QCS™ Stack Tools to support high performance QPU integration and application development Application Software ● Integrated Developer Environment (IDE) ● Quantum Software Libraries Third Party Libraries IDE ● Client Software Development Kit
Slide 71: QCS: One stack for all our customers & partners
QCS™ One stack for all our customers & partners Rigetti Rigetti Public QCS™ Direct QCS™ Anywhere Clouds Rigetti QCS™ Direct AWS Braket Application Software Strangeworks Customer Development Bracket customer Development Third Party Libraries IDE Strangeworks Product Braket Product Platforms & Librari
Slide 72: QCS for Application Developers
QCS™ for Application Developers The Development Platform ● Fully featured and familiar IDE Visual IDE based on Jupyterlab Notebooks ● QCS Direct - Cloud Based Delivered over the cloud, as a service, to the developer ● Tools quantum developers use ® Supports PyQuil , Cirq, and Qiskit ● Supporting pla
Slide 73: QCS Delivering High Performance
QCS™ Delivering High Performance Performance Matters Hybrid Quantum Computing with QCS™ Customer Cloud ● Hybrid by design Hybrid Quantum-Classical Computing System ● Deep integration with each component of the system ● High performance integration High Performance between classical and quantum resou
Slide 74: QCS Achieved 4.5x increase on CLOPS since February
1 QCS™ Achieved 4.5x increase on CLOPs since February 2 Based on publicly reported data, we believe Rigetti has the highest 1 CLOPS of any publicly available quantum computing system. 1 CLOPS , or circuit layer operations per second, characterizes quantum processing speeds inclusive of gate speeds,
Slide 75: Rigetti Roadmap Aims to Reach Quantum Advantage
1 Rigetti Roadmap Aims to Reach Quantum Advantage c.2018-2021 c.2022 c.2023 c.2024 c.2025 c.2026 c.2027+ Reference Applications & Libraries Quantum Software Applications Application Proofs of Applications Concepts Develop & Demonstrate Advantage-Capable Subroutines Public Cloud Access Direct & Hybri
Slide 76: Partnerships Help Accelerate our Path
1 Partnerships Help Accelerate our Path Applications Access & Rigetti Production QCS™ Direct Quantum Cloud TM Services (QCS ) Quantum Processing Units Fabrication (Fab-1) 1 Prepared on the basis of certain technical, market, competitive and other assumptions which may not be satisfied. As a result, t
Slide 77: Cautionary Notes: Forward Looking Statements
Cautionary Notes Forward Looking Statements: Certain statements in this video may be considered forward-looking statements, including statements with respect to the collaboration of Rigetti and Keysight, including expectations with respect to benefits to the user base, achievement of better and highe
Slide 78: Question & Answer
Question & Answer rigetti
Slide 79: Today's Agenda
Today’s Agenda Presentation Title Speaker Approximate Time Strategic Overview Chad Rigetti, CEO 8:30am Greg Peters, CRO Go to Market & Strategic Partnerships • Despina Milathanaki, Sr. Dir. DOE 9:00am • Marco Paini, Dir. Tech Partnerships Product Roadmap Eric Ostby, VP Product 9:30am Quantum Cloud S
Slide 80: Rigetti Quantum Processing Units
5. Rigetti Quantum Processing Units
Slide 81: Quantum Processor Trailblazers
Quantum Processor Trailblazers: Rigetti’s strategic investments at the chip level underpin our pioneering roadmap in QPU performance at scale.
Slide 82: Rigetti Roadmap Aims to Reach Quantum Advantage
1 Rigetti Roadmap Aims to Reach Quantum Advantage c.2018-2021 c.2022 c.2023 c.2024 c.2025 c.2026 c.2027+ Reference Applications & Libraries Quantum Software Applications Application Proofs of Applications Concepts Develop & Demonstrate Advantage-Capable Subroutines Public Cloud Access Direct & Hybri
Slide 83: The Chip is the Heart of the Quantum Computer
The Chip is the Heart of the Quantum Computer Copyright Rigetti Computing 2022 83
Slide 84: Fab-1 Fremont, CA Expansion in progress
Fab-1 Fremont, CA 84 Expansion in progress
Slide 85: Quantum Data Center and Test Facility
Quantum Data Center and Test Facility Berkeley & Fremont, CA Copyright Rigetti Computing 2022 85
Slide 86: FAB1 Accelerates R&D and Provides Competitive Advantage
Fab Test Rigetti Perspective: FAB1 Accelerates R&D and Provides Competitive Advantage QPU Device Addresses Supply Accelerates IP Platform for Innovation Cycles Chain Risk Generation Capital Efficiency R&D Partnerships Helps mitigate unfavorable Rapid design, build, test Essential for scaling large 32
Slide 87: Driving QPU Development: Performance at Scale
Driving QPU Development: Performance at Scale 99.5% 99% Multi-chip scaling Aspen-8 5/2020 Aspen-7 98% Aspen-11 12/2019 12/2021 4th generation Aspen-4 3/2019 architecture Aspen-3 95% Aspen-M1 2/2019 2/2022 Aspen-9 Agave Aspen-M2 2/2021 6/2017 8/2022 90% Aspen-1 Early R&D work 11/2018 Acorn 2016-2017
Slide 88: 4th Gen Architecture: Designed for Quantum Advantage
4th Gen Architecture: Designed for Quantum Advantage 1 Demonstrated 2Q gate fidelities as high as 99.5% on intermediate-scale prototypes Third Generation Fourth Generation Fixed couplers Tunable couplers We expect… … … … … Faster gates Denser lattice Higher fidelities Better connectivity Optimization
Slide 89: Progress to Ankaa 84Q Prototype
Progress to Ankaa 84Q Prototype 84Q chips being manufactured in Fab-1 Characterization and design optimization underway On track for early 2023 deployment to customers Ankaa 84Q unpackaged chip Copyright Rigetti Computing 2022 89
Slide 90: Proprietary scaling technology unlocked by fab-driven innovation
Proprietary scaling technology unlocked by 6+ years of fab-driven innovation Vertical Quantum Chiplet Inter-Module Rigetti’s Scalable + + = Signaling Technology Connectivity Architecture entanglement qubit qubit Chiplet 1 Chiplet 2 Carrier 2D 3D vs (Cross section) Signals routed Signals routed later
Slide 91: Leveraging Multi-Chip for Predictable Scaling
Leveraging Multi-Chip for Predictable Scaling Proprietary technology unlocked by 6+ years of fab-driven innovation 2027 or later Rigetti has pioneered Qubits modular scaling and Late 2025 owns a deep IP 4,000Q portfolio underpinning Late our roadmap. 1,000Q 2023 4,000Q+ 1,000Q+ 300Q Q1 Early 2022 20
Slide 92: Fridges for Lyra 336Q, 1,000Q+ and 4,000Q+ QPUs
Fridges for Lyra 336Q, 1,000Q+ and 4,000Q+ QPUs Rigetti is excited to announce that it has entered into a strategic partnership with Bluefors, a leader in cryogenic refrigeration, to develop the KIDE fridge. Copyright Rigetti Computing 2022 Copyright Rigetti Computing 2022
Slide 93: Question & Answer
Question & Answer rigetti
Slide 94: Today's Agenda
Today’s Agenda Presentation Title Speaker Approximate Time Strategic Overview Chad Rigetti, CEO 8:30am Greg Peters, CRO Go to Market & Strategic Partnerships • Despina Milathanaki, Sr. Dir. DOE 9:00am • Marco Paini, Dir. Tech Partnerships Product Roadmap Eric Ostby, VP Product 9:30am Quantum Cloud S
Slide 95: Financials
rigetti Financials
Slide 96: Financial Strategy
Financial strategy: Financial Strategy Enabling value creation through progress against our roadmap. 96
Slide 97: Focused on high-value use cases through a full-stack, hybrid approach
Rigetti is focused on driving what we believe are high-value use cases through a differentiated full-stack, hybrid approach to advance towards Quantum Advantage. We believe our long-term QCaaS business model will deliver anticipated high-margin, recurring revenue growth and operating profit. We expect
Slide 98: Early Strategic Investments Fuel Roadmap Progress
Early Strategic Investments Fuel Roadmap Progress ● Recruit and build world-class global quantum engineering teams ● Advance our QCS platform, enabling customers to become sophisticated quantum users and advance application development ● Grow revenue through high-value partnerships & use cases ● Exp
Slide 99: 1H22 Financial Snapshot
1 1H22 Financial Snapshot - Year 1 Access to capital markets has allowed us to make necessary investments to accelerate development in core engineering talent, Fab-1 and facilities $4.2 million $3.0 million ~70.0% 1H22 Revenue 1H22 total gross profit 1H22 Gross Margin $52.4 million $32.0 million $(29
Slide 100: Year One Expense Profile - Total OPEX - H122
Year One Expense Profile - Total OPEX - H122 We expect that our current expense profile will transition to an operating profile as we work toward QA and beyond. Talent R&D S&M G&A 5.6% GAAP Largest component of our 46.5% GAAP 47.9% GAAP cost structure at ~ 60% of our cash Opex YTD ● Full stack approach
Slide 101: FY22 Outlook
FY22 Outlook Long term business model - QCaaS 2022 Progress being made against potential ~$4M revenue deferral due to Revenue: ongoing contract discussions with existing customer - major US gov $12-$13 million agency 1 Ongoing supply constraints, higher headcount costs and public Adjusted EBITDA : (
Slide 102: Committed Equity Facility Provides Several Strategic Benefits
Committed Equity Facility (CEF) Provides Several Strategic Benefits ● Announced in August - Up to $75M equity facility ● We believe this is a prudent response to macro uncertainty and vote of confidence from capital markets ● Allows us to remain focused on key priorities and roadmap ● Structure allows
Slide 103: Strategically Focused on High-Impact Revenue
Strategically Focused on High-Impact Revenue Building relationships with leading government agencies Shaping the quantum ecosystem, expected to lead to increasing QCaaS revenues Today’s Revenue Leveraging engagements to Is High-Impact accelerate R&D progress Supporting capital allocation strategy Co
Slide 104: Pioneers and Innovators in Quantum Investment Highlights
Pioneers and Innovators in Quantum Investment Highlights ● Proprietary fab and full-stack pure play ● Leading-edge technology ● Extensive patent portfolio ● Strong leadership ● Top-tier commercial and technology partners ● Industry transformative potential Copyright Rigetti Computing 2022 104
Slide 105: Question & Answer
Question & Answer rigetti
Slide 106: Poised to Solve Humanity's Most Important Problems
Poised to Solve Humanity’s Most Important Problems Quantum Advantage QCaaS Model Targeting performance at scale QCS and hybrid designed for Quantum Advantage QA programs developed through years of government and commercial R&D Selectively partnering, expanding commercial focus, and leveraging cloud
Slide 107: Appendix
Appendix rigetti
Slide 108: Reconciliation of Net Loss to Adjusted EBITDA
Rigetti Computing, Inc. Reconciliation of Net Loss to Adjusted EBITDA (in thousands) (Millions) 6 Months Ended 6 Months Ended June 30, June 30, 2022 2021 Net loss $ (20,444) $ (17,861) Excluding: $ 2,978 $ 2,362 Depreciation Stock compensation 22,522 1,118 2,244 481 Interest expense (net) (14,509) -
Slide 109: Reconciliation of Operating Expenses to Non-GAAP Operating Expenses
Rigetti Computing, Inc. Reconciliation of Operating Expenses to Non-GAAP Operating Expenses (in thousands) (Millions) 6 Months Ended 6 Months Ended June 30, June 30, 2022 2021 Operating Expenses $ 52,391 $ 20,620 Excluding: $ (2,978) $ (2,362) Depreciation (22,522) (1,118) Stock compensation Change
Slide 110: Investor & Analyst Day September 16, 2022
• Slide introduces the speaker • Add QA Slide for end of each speaker Investor & Analyst Day September 16, 2022