Slide 1: 2023 Annual General Meeting
For personal use only 2023 ANNUAL GENERAL MEETING BLUGLASS ANNUAL GENERAL MEETING, OCTOBER 2023 BluGlass Limited (ASX:BLG), 9 October 2023
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT This document has been prepared by BluGlass Limited to provide readers with an update of the Company and the Company’s technology. For personal use only Any statements, opinions, technical data and information, or other material contained in this document, do not constitute
Slide 3: Contents
CONTENTS 01. Chair’s Report 4 For personal use only 2023 Highlights 5 Financial Performance 6 Overview & Strategic Position 8 02. CEO’s Report 8 Market Overview 10 Technology and Customer Engagement 16 Outlook and Catalysts 25 Appendix 30 Glossary 31 05. Questions & Answers 32 06. Official Business
Slide 4: James Walker - Chair's Report
For personal use only JAMES WALKER CHAIR’S REPORT BLUGLASS ANNUAL GENERAL MEETING, OCTOBER 2023
Slide 5: Accelerating Progress in FY23
ACCELERATING PROGRESS IN FY23 Secures $10.7M Joins world- Demonstrates Fremont lasers Appoints Jim in funding Demonstrated leading GaN feasible reliability meet contract Haden as CEO enhanced For personal use only introduces consortium, of GaN lasers manufacturer international products at SSLEEC ben
Slide 6: Financial Performance
FINANCIAL PERFORMANCE 2023 2022 YoY Movement For personal use only $ $ % Revenue 1,146,235 604,749 Up 90% Other Income 8,368,678 3,661,282 Up 129% Net Assets 13,887,160 13,220,332 Up 5% Consolidated Loss 11,751,243 9,355,554 Up 20% R&D Tax Rebate (Receipt for prior year R&D spend) ~7,300,000 4,050,0
Slide 7: Laying the Foundations for Our Future Success
LAYING THE FOUNDATIONS FOR OUR FUTURE SUCCESS Launched suite of GaN visible laser diodes Expert laser and manufacturing team Products available in underserved wavelengths and flexible form Highly experienced manufacturing team, led by laser diode For personal use only factors to address key customer
Slide 8: Jim Haden - CEO's Report
For personal use only JIM HADEN CEO’S REPORT BLUGLASS ANNUAL GENERAL MEETING, OCTOBER 2023
Slide 9: Who We Are: Leading Pure Play GaN Laser Supplier
WHO WE ARE: LEADING PURE PLAY GaN LASER SUPPLIER BluGlass is one of only a handful of global GaN laser suppliers, with rapidly growing demand and high-barriers to entry For personal use only Visible GaN lasers are an emerging technology that is disrupting advanced industries and enabling new markets
Slide 10: Market Overview at a Glance
For personal use only At a Glance Lasers are a ubiquitous technology underpinning global advanced technology trends GaN lasers are the fastest growing market segment, displacing traditional IR lasers and opening new markets MARKET OVERVIEW The GaN laser systems market is projected to reach US $2.5B
Slide 11: Global Megatrends Driving Advanced Laser Applications
GLOBAL MEGATRENDS DRIVING ADVANCED LASER APPLICATIONS ▪ Smart manufacturing ▪ Electric vehicles ▪ 3D printing Electrification ▪ Materials processing ▪ Autonomous vehicles ▪ Drones & Industry ▪ Automation ▪ Robotics 4.0 For personal use only ▪ Computing & semiconductors Digitalization ▪ Machine visio
Slide 12: GaN Laser Market Verticals (2025)
GaN LASER MARKET VERTICALS (2025) Quantum & Biotech/Life Display Defense & Industrial Scientific Sciences (AR/VR) R&D For personal use only (405nm, 450nm, (405nm, 420nm, (405nm, 420nm, (450nm, 525nm) (405nm, 420nm , 450nm, 488nm, 525nm) 450nm, 488nm , 525nm) 450nm, 488, 525nm) 525nm) US $400M US $10
Slide 13: BluGlass Target Markets: Key Industry Players by Segment
BLUGLASS TARGET MARKETS: Key Customers byINDUSTRIAL segment QUANTUM For personal use only & SCIENTIFIC KEY INDUSTRY DISPLAY (AR/VR) PLAYERS BY SEGMENT • IPG Photonics • TeraDiode (Panasonic) • nLight (OPI) • NUBURU BIOTECH • LaserLine • Convergent Photonics -3D Systems • FormLabs • EOS DEFENCE 13 BL
Slide 14: Highly Constrained Market: BLG Is Solving Customer Challenges
HIGHLY CONSTRAINED MARKET: BLG IS SOLVING CUSTOMER CHALLENGES The GaN laser diode industry is an emerging market Manufacturing flexibility growing rapidly. BluGlass’ laser offering addresses underserved markets, wavelengths and delivered in flexible form factors. For personal use only Challenged by
Slide 15: Market Drivers - The Advantages of GaN Laser Diodes
MARKET DRIVERS - THE ADVANTAGES OF GaN LASER DIODES Visible GaN laser diodes have many advantages over traditional infrared lasers Visible light has higher absorption in key industrial Key Metals Improvement of energy For personal use only metals absorption in metals Gold 66x Cleaner, faster welding
Slide 16: Technology and Customer Engagement at a Glance
At a Glance For personal use only We’ve established our core technology Adding functionality increases customer value and results in higher average selling price (ASP) TECHNOLOGY We introduced more products than we set out to release AND CUSTOMER ENGAGEMENT Garnered interest across multiple vertical
Slide 17: US DoD Establishes Microelectronics Commons, Invests $2B
US DoD ESTABLISHES MICROELECTRONICS COMMONS, INVESTS $2B MICROELECTRONICS COMMONS CLAWS HUB LEAD & MEMBERS MEMBERS $2B Allocated by US Department of Defense For personal use only to establish the Microelectronics LEAD Commons as part of the CHIPS Act $238M Awarded to ME Commons in FY23 for FY24 oper
Slide 18: CLAWS Hub Aligns Perfectly with BluGlass' Long-Term Strategy
CLAWS HUB ALIGNS PERFECTLY WITH BLUGLASS’ LONG-TERM STRATEGY Fast-tracks Higher Key long term advanced Advanced Leverages power strategic pillar roadmaps performance in Energy vertical integration efficiency extreme Wide band-gap capability conditions semiconductors For personal use only have many A
Slide 19: Multi-Mode vs Single Mode Lasers
MULTI-MODE VS SINGLE MODE LASERS Multi-Mode Laser (Top view) For personal use only • Wider beam width • Multiple optical modes (multiple paths that light can take in the laser) • Application in higher power devices Single-Mode Laser (Top View) • Fremont’s equipment comes online • Narrower, highly co
Slide 20: BluGlass Technology Roadmap
BLUGLASS TECHNOLOGY ROADMAP Launched GaN Products Establish BLG as Partner of Add Novel Capabilities (Core Capabilities) Choice For personal use only - Launch Distributed FeedBack (DFB) - BLG positioned for break-out success - Portfolio spanning 405, 420nm & lasers for quantum applications as the on
Slide 21: Launched Better Products Across More Wavelengths
LAUNCHED BETTER PRODUCTS ACROSS MORE WAVELENGTHS What we set-out to launch What we actually launched 397nm 397nm SM – 200mW For personal use only MM – 1W MM – 1W MM – 3W 405nm 405nm Violet SM – 100-200mW SM – 250mW Violet MM – 1W MM – 1W MM – 3W 420nm 420nm SM – 100-200mW SM – 250mW MM – 1W Blue 450
Slide 22: BluGlass Laser Portfolio and Development Pipeline
BLUGLASS LASER PORTFOLIO AND DEVELOPMENT PIPELINE Next-gen (Premium value/margin) Available for Purchase Higher-Value Products In Development Products in Development 397nm SM – 200mW MM – 1W MM – 3W MM: Multi Mode For personal use only 405nm Violet SM – 250mW SM – 300mW-400mW SM – 500mW SM: Single M
Slide 23: Working with Customers Across Our Target Verticals
INDUSTRIAL Multiple leading OEM customers BluGlass’ customers include leading OEMs across the industrial, medical, quantum & scientific sectors, For personal use only and national labs and research organisations QUANTUM Qualifying products across full portfolio & SCIENTIFIC Customers are purchasing
Slide 24: Custom Projects Speed Path to Profitability
CUSTOM PROJECTS SPEED PATH TO PROFITABILITY Large custom laser projects Complements direct-to- market visible laser offering For personal use only are a key commercial strategy pillar; provide path to profitability Custom projects Builds reputation as the industry’s partner of choice form a key pill
Slide 25: Global Patent Portfolio
GLOBAL PATENT PORTFOLIO 53 Internationally Granted For personal use only Patents in Key Markets 14 Applications in PCT Phase 8 Patent Families 17 Trademarks 25 BLUGLASS ANNUAL GENERAL MEETING, OCTOBER 2023
Slide 26: Outlook at a Glance
For personal use only Outlook at a Glance Rapidly growing market driven by global megatrends Significant unmet demand for greater wavelength availability, manufacturing and packaging flexibility OUTLOOK & CATALYSTS With Proprietary RPCVD technology, BluGlass is positioned as the only pure-play optio
Slide 27: Upcoming Milestones
Complete vertical integration in Silicon Valley wafer fab Repeat orders from customers For personal use only Integrate commercial packaging, testing & reliability equipment Improve yield and reliability performance to increase shipments Launch brighter & more efficient lasers in core wavelengths (40
Slide 28: In-Sourcing Fremont Progress - More Speed, Better Capability
IN-SOURCING FREMONT PROGRESS - MORE SPEED, BETTER CAPABILITY • Cohabitation (with fab sellers) • Employee onboarding April 2022 Acquires SV LD Fab • • Commence approval process Plant clean-up For personal use only • Hired expert leadership team • Established process capabilities • Brought key equipm
Slide 29: BluGlass: The World's Leading Pure Play Visible Laser Supplier
BLUGLASS: THE WORLD’S LEADING PURE PLAY VISIBLE LASER SUPPLIER GaN lasers are disrupting the US$25B laser BluGlass is the solution market . For personal use only . • GaN lasers are forecast to be a US$2.5B segment of the • Full-suite pure-play GaN laser supplier disrupting broader laser market by 20
Slide 30: Appendix
For personal use only APPENDIX: BLUGLASS ANNUAL GENERAL MEETING, OCTOBER 2023
Slide 31: Glossary
GLOSSARY Term Definition Gallium nitride (GaN) is an important semiconductor material used in billions of electronics devices around the globe. GaN is a direct Gallium Nitride (GaN) bandgap semiconductor commonly used in blue light-emitting diodes and laser diodes for a wide range of commercial appl
Slide 32: Thank-You & Questions
For personal use only Investor Relations: Stefanie Winwood P: +61 2 9334 2300 E: investors@bluglass.com.au THANK-YOU & QUESTIONS BLUGLASS ANNUAL GENERAL MEETING, OCTOBER 2023