IQM Quantum Computers Oyj · OMXHEX:IQMX
IQM Quantum Computers Oyj — Investor Day (June 2026)
54 slides from IQM Quantum Computers Oyj's investor day presentation, Jun 15, 2026
Slide 1: From the quantum labs to the Capital Markets
/iqm.tech/ /iqm.tech/ Capital Markets Day From the quantum labs… …to the Capital Markets June 15th 2026 On site: Nasdaq | 151 42nd Street | Manhattan, New York P UBLI C
Slide 2: Agenda
/iqm.tech/ /iqm.tech/ Agenda Session Presenter Schedule Welcome & Registration - 1400 - 1430 Safe Harbour & Opening Remarks Mark Roberts – Managing Partner, The Blueshirt Group 1430 - 1435 Sponsor Introduction Pete Ort - Principal Executive Officer of Nasdaq: RAAQ 1435 - 1440 Company Introduction Ja
Slide 3: About this presentation
/iqm.tech/ /iqm.tech/ About this presentation Forward-Looking Statements The material in this presentation regarding IQM Quantum Computers Oy (“IQM,” “we,” “us” or the “Company”) is for informational purposes only. This presentation contains “forward-looking statements” within the meaning of the U.S
Slide 4: Perspectives from Real Asset Acquisition Corp.
/iqm.tech/ /iqm.tech/ Sponsor Introduction Perspectives from Real Asset Acquisition Corp. Peter Ort Principal Executive Officer Nasdaq: RAAQ Capital Markets Day P UBLI C June 2026
Slide 5: Management
/iqm.tech/ /iqm.tech/ Real Asset Acquisition Corp. (Nasdaq: RAAQ) $180M1 cash-in-trust enabled by leading agents in next-generation computing Peter Ort Jeff Tuder • Principal Executive Officer and Co-chairman of Real Asset • CFO & Co-chairman of RAAQ Acquisition Corp. (RAAQ) • CFO & Co-chairman of D
Slide 6: Business combination
/iqm.tech/ /iqm.tech/ Business combination Offering a highly attractive entry point for investors into pure-play quantum • Combination of quantum expertise: transaction connects RAAQ and IQM teams, each of which has deep quantum experience Rationale • US-EU leadership with a comprehensive on-prem an
Slide 7: Valuation considerations
/iqm.tech/ /iqm.tech/ Valuation considerations Offering a highly attractive entry point for investors into pure-play quantum Market capitalization1 for select public peers ($B) FY25 revenue ($M) Approx. cash on balance sheet 23.2 $2.39B 130.0 IQM 2025 revenue exclusively 13.2 $0.77B 36.2 4 from quan
Slide 8: Illustrative transaction
/iqm.tech/ /iqm.tech/ Illustrative transaction Offering a highly attractive entry point for investors into pure-play quantum Transaction highlights Sources & uses ($M) Valuation Sources • Transaction implies ~$1.5B pro-forma enterprise value Existing IQM equity rollover 1 $1,559 RAAQ cash in trust 2
Slide 9: We build Quantum computers
/iqm.tech/ /iqm.tech/ Company Introduction We build Quantum computers Jan Goetz Chief Executive Officer IQM Quantum Computers Capital Markets Day P UBLI C June 2026
Slide 10: Our mission and key facts
/iqm.tech/ /iqm.tech/ Our mission: “to build world leading quantum computers for the well-being of humankind, now and for the future…” Industrial leader Financial momentum Global talent 30+ EUR 31M 350+ Systems built 2025A revenue1 Employees One of the only European players Strong revenue today and
Slide 11: Hybrid quantum-classical computing
/iqm.tech/ /iqm.tech/ Quantum processors are expected to play a complimentary and deeply integrated role within existing digital infrastructure um-rel Quant ou evant s br tines u QPU – The soloist CPU – The conductor Solves subroutines where Coordinates workloads, quantum states can explore runs ser
Slide 12: Applications unlocked by quantum could generate more than USD 2T by 2040
/iqm.tech/ /iqm.tech/ Applications unlocked by quantum have recently been cited to potentially generate more than USD 2T by 2040 ~$400-600B1 ~$200-500B1 ~$250-450B1 ~$300-800B1 Finance Logistics Security and defence Pharmaceuticals and chemicals • Portfolio optimisation • Supply chain optimisation •
Slide 13: IQM stimulates global quantum ecosystems
/iqm.tech/ IQM stimulates global quantum ecosystems; /iqm.tech/ Positioning itself as the nucleus to unlock and capture this value generation Support national quantum programs achieve their Co-develop applications and modular designs with quantum aspirations1 leading partners for breakthrough techno
Slide 14: Our strategic priorities
/iqm.tech/ /iqm.tech/ Our strategic priorities Deliver best-in-class quantum computers and solutions Quantum computers and solutions sets pace of quantum innovation, where early advantage creates structural lock-in Accelerate quantum adoption “A global leader from Europe” Accelerating adoption turns
Slide 15: Building best-in-class Quantum computers
/iqm.tech/ /iqm.tech/ Strategic priority #1 Building best-in-class Quantum computers Jan Goetz Chief Executive Officer IQM Quantum Computers Capital Markets Day P UBLI C June 2026
Slide 16: Consistently delivering on technical milestones
/iqm.tech/ /iqm.tech/ Recap: Consistently delivering on technical milestones 2022 2023 2024 2025 2026 2027 2028 2030+ Foundation Quantum Utility Quantum Advantage Drug discovery, catalyst and fertilizers design, carbon Simulation Short to medium-sized molecular simulations and Medium size molecular
Slide 17: Clear path to scaling every layer of the stack
/iqm.tech/ /iqm.tech/ Clear path to scaling every layer of the stack Key technical deliverables 4 Real-world algorithms enabled by Quantum hybrid quantum-classical Application workflows 3 Quantum Real-time control and decoding for OS fault-tolerant runtime execution 2 5 Scalable and cost-efficient l
Slide 18: Over 99.9% fidelity
/iqm.tech/ /iqm.tech/ 1. Quantum Processor: High-quality and fast qubit couplers Tunable couplers Over 99.9% fidelity achieved through proprietary tunable coupler solutions and pulse control optimisation 2Q fidelity 99.93 % [1] Coupler Qubit 1 Qubit 2 qubit Capital Markets Day P UBLI C June 2026 Sou
Slide 19: Highly manufacturable QPU design optimized for error correction
/iqm.tech/ /iqm.tech/ 1. Quantum Processor: Highly manufacturable QPU design optimized for error correction Proprietary IQM Constellation architectures for Integration solutions for large-scale QPUs higher-density QEC encoding Star Constellation Barbell • Proprietary Integrated quantum device platfo
Slide 20: Quantum Control: scalable and cost-effective control electronics
/iqm.tech/ /iqm.tech/ 2. Quantum Control: Implementing scalable and cost-effective solutions for control electronics Cost efficient Continue to develop State of the art in-house solution Full stack optimised Scalable and cost-efficient solutions Stimulate ecosystem development through De-risk supply
Slide 21: Quantum OS: platform for quantum error correction solutions
/iqm.tech/ /iqm.tech/ 3. Quantum OS: Platform for developers to build quantum error correction solutions Provide a choice of solutions Approach to customers through modular systems with open access Inhouse proprietary solution A platform to educate, Result research, and create IP on the critical pat
Slide 22: Quantum Application: unified software platform
/iqm.tech/ /iqm.tech/ 4. Quantum Application: Unified software platform to enable hybrid solution for industry use-cases From fragmented quantum execution…. … to unified workflows based on industry standards Use cases in Finance / Chemicals / Pharma… Use cases in Finance / Chemicals / Pharma… Unifie
Slide 23: Full-stack optimisation
/iqm.tech/ /iqm.tech/ 5. Full-stack optimisation: Stable operations, high availability and high-fidelity performance Calibration 2x improvement ➢ Tune-up and autonomous system operation with ➢ QPU-level fidelities up to about 99.8% (median) graph-based calibration (GBC) Demonstrated integration of N
Slide 24: Faster innovation cycles from full-stack thinking and proprietary infrastructure
/iqm.tech/ /iqm.tech/ Faster innovation cycles are underpinned by full-stack thinking and proprietary infrastructure QPU1 designs Customer Real-world optimised feedback customer usage IQM Fab IQM Assembly Line IQM Data Center T 900m2 Up to 30 IQM Resonance with expansion planned systems per year QPU
Slide 25: Broad customer base stimulates ecosystem and structural lock in
/iqm.tech/ /iqm.tech/ Broad customer base stimulates ecosystem and creates structural lock in Today 23 18 EUR 155M+ Total systems sold1 Total customers1 Total order intake1 Finland IQM has sold, delivered and installed the most quantum Germ any systems globally 2 Pol and D-Wave France SpinQ Other Sp
Slide 26: IQM Resonance cloud platform
/iqm.tech/ /iqm.tech/ Providing state-of-the-art tools for enterprises and developers accelerates quantum adoption IQM ResonanceTM: our open and modular cloud platform → Multi platform cloud accessible → Multi-language → Multi-vertical use-case libraries Unique to IQM’s platform Accessibility Tight
Slide 27: Accelerating Quantum adoption
/iqm.tech/ /iqm.tech/ Strategic priority #2 Accelerating Quantum adoption Ines De Vega Vice President, Quantum Solutions IQM Quantum Computers Capital Markets Day P UBLI C June 2026
Slide 28: Quantum computing is rapidly approaching the utility regime
/iqm.tech/ /iqm.tech/ Quantum computing is rapidly approaching the utility regime 1,000,000 optimisation Advances in hardware 409d1 100,000 performance and in error 10d2 8h4 control / algorithms 10,000 27h3 Logical qubits Electronic simulation (full quantum) 5-6d5 Lowest-hanging fruit remain 1,000 q
Slide 29: What defines leadership in the race to quantum utility?
/iqm.tech/ /iqm.tech/ What defines leadership in this race to quantum utility? Current paradigm (2024+) Metric: # logical qubits + error rate Goal: Industry relevant applications Old paradigm (2019–2023) Metric: # physical qubits System-level Goal: Supremacy / Scalable path to Credible QEC integrati
Slide 30: Quantum error correction is more than just error rates
/iqm.tech/ /iqm.tech/ Quantum error correction is more than just error rates A. Credible QEC demonstration PHASE 1: 2026 PHASE 2: 2028 PHASE 3: 2030+ Surface and colour codes qLDPC for memory qubits and Non-Clifford gate set with for memory qubits and Clifford gates qLDPC code early FT gates Halved
Slide 31: Low complexity qLDPC code unlocks the path to quantum advantage
/iqm.tech/ /iqm.tech/ Low complexity and highly efficient qLDPC code unlocks the path to quantum advantage B. Scalable path to quantum advantage Surface code BB code Gross code Radial code Directional code Narrow code Tile code Tanner code 4.0 3.5 Less physical qubits w=8 per logical qubit High effi
Slide 32: Building an open architecture to support hybrid workflows
/iqm.tech/ /iqm.tech/ Building an open architecture to support hybrid workflows C. System-level integration in industry environments Hosted cloud / market place External SDK/API integration Hybrid platform • Workflows stay in customer / • One platform across hosted • Easy discovery and onboarding HP
Slide 33: Acting now to accelerate quantum adoption
/iqm.tech/ /iqm.tech/ Acting now to accelerate quantum adoption C. System-level integration in industry environments ILLUSTRATIVE Building a customer pipeline for quantum adoption requires a multi-year lead time 100 90 Percentage of enterprise adopting Year of 80 quantum 70 value 60 Preparation stag
Slide 34: Accelerating quantum adoption in enterprise customers in three phases
/iqm.tech/ /iqm.tech/ Our action plan: Accelerating quantum adoption in enterprise customers in three phases C. System-level integration in industry environments Horizon 3: ➢ Integrate of hybrid industry workflows via hybrid Long term platform for platforms broader reach Horizon 2: ➢ Target industry
Slide 35: Building proof-of-concepts with multiple industry partners
/iqm.tech/ /iqm.tech/ Our action plan: Building proof-of-concepts with multiple industry partners C. System-level integration in industry environments NON-EXHAUSTIVE Simulation Battery Simulation Optimisation Power Plant Product Waste Rolling Maintenance Portfolio Disposal stock Scheduling Optimisat
Slide 36: What defines a good partner for enterprises to adopt quantum solutions?
/iqm.tech/ /iqm.tech/ What defines a good partner for enterprises to adopt quantum solutions? Enterprises require… Our credentials Reliable and affordable high-performance • Continual innovation and execution on our roadmap system • Leading number of on-premises quantum systems globally - to support
Slide 37: Supporting the Quantum Ecosystem
/iqm.tech/ /iqm.tech/ Strategic priority #3 Supporting the Quantum Ecosystem Scarlett Gao Senior Manager, Strategy IQM Quantum Computers Panel Moderator Capital Markets Day P UBLI C June 2026
Slide 38: Stimulating global ecosystem growth: Finland
/iqm.tech/ /iqm.tech/ Stimulating global ecosystem growth by providing intimate system access Finland 2018 2025 2035 Estimate Patents generated1 Founding Companies with of IQM a quantum interest 72 3 companies in quantum sector 7 companies in hardware Jobs generated 2.3k 5 companies in control / sof
Slide 39: Stimulating global ecosystem growth: Germany
/iqm.tech/ /iqm.tech/ Stimulating global ecosystem growth by providing intimate system access Germany 2018 2025 2035 Estimate Patents generated1 Founding Companies with of IQM a quantum interest 331 5 companies in 12 companies in Jobs generated 1.4k quantum sector hardware 5 companies in control / s
Slide 40: Enabling the Quantum Ecosystem
/iqm.tech/ /iqm.tech/ Enabling the Quantum Ecosystem Moderator Panelists Scarlett Gao David Moehring Suhare Nur Blair Robertson Zia Mohammed Senior Manager, Strategy General Partner, Investor Strategic Partnerships VP, Strategy & Corporate Development Senior Technical Product Manager Capital Markets
Slide 41: Financial Results: Audited Financials FY 2024 & 2025
/iqm.tech/ /iqm.tech/ Financial Results Audited Financials FY 2024 & 2025 Jan Kürschner Chief Financial Officer IQM Quantum Computers Capital Markets Day P UBLI C June 2026
Slide 42: Strong commercial momentum and growing revenue
/iqm.tech/ /iqm.tech/ Strong commercial momentum and growing revenue Revenue Commercial milestones EURm FY 2025 Revenue: EUR 31m 31.3 >90% year over year growth from 2024 Year-end 2025 Order Backlog: > EUR 67m >123% year over year growth from year end 2024 16.4 Global commercial leader with 23 syste
Slide 43: Selected recent customer wins and partnerships
/iqm.tech/ /iqm.tech/ Selected recent customer wins and partnerships GL O BA L · T EC H J A P A N · EN T E R PR I S E Apr 2026 Apr 2026 P OL A N D · E N T ER P RI SE Apr 2026 GE R MA N Y · A C A D EM I A Feb 2026 P A R T N ER S H I P TOYO Corporation NVIDIA Ising Integration Galaxy Systemy Informaty
Slide 44: Significant scaling investments
/iqm.tech/ /iqm.tech/ Significant scaling investments EURm FY2025 FY2024 YoY Change Commentary Revenue 31.3 16.4 91% Cost of Revenue (16.3) (11.4) 44% • Revenue growth driven by accelerating system deliveries and expanding customer base across HPC and enterprise segments Gross Profit 15.0 5.1 195% G
Slide 45: Efficient R&D spend delivering superior innovation results
/iqm.tech/ /iqm.tech/ Efficient R&D spend delivering superior innovation results R&D spend Innovation milestones EURm >99.9% Gate Fidelity 1 Single-qubit, two-qubit gates and readouts. Among the highest globally reported 50.7 Halocene Platform 2 Next-gen system designed for quantum error correction.
Slide 46: Well-capitalized to continue executing product roadmap
/iqm.tech/ /iqm.tech/ Well-capitalized to continue executing ambitious product roadmap & scaling Financial takeaways EUR 146M Cash & Equivalents Commercial Capital Disciplined R&D Scale Benefits & Path As of 31 Dec 2025 Momentum Strength Investment to Profitability Strong revenue Up to EUR 406M 1 pr
Slide 47: Take the fast lane to Quantum advantage
/iqm.tech/ /iqm.tech/ Q&A Take the fast lane to Quantum advantage Scarlett Gao Senior Manager, Strategy IQM Quantum Computers Moderator Capital Markets Day P UBLI C June 2026
Slide 48: Countdown to the Capital Markets
/iqm.tech/ /iqm.tech/ Transaction Update Countdown to the Capital Markets Blair Robertson Vice President, Strategy & Corporate Development IQM Quantum Computers Investor Relations Officer Capital Markets Day P UBLI C June 2026
Slide 49: Timeline update
/iqm.tech/ /iqm.tech/ Timeline update 22nd Feb 2026 5th May 2026 5th June 2026 Business Combination Agreement Public Submission of F-4 F-4 declared Effective Soon Closing* 3rd April 2026 June 2nd 2026 Confidential Submission of F-4 PIPE Increased IQMX Capital Markets Day *Transaction completion subj
Slide 50: Transaction update: Credibility, Capital, Talent, Strategy
/iqm.tech/ /iqm.tech/ Transaction update Credibility Capital Talent Strategy Confidence Access Acquisition Acquisitions Visability Flexibility Retention Partnerships Transparency Diversification Ownership Expansion Entering the capital markets at an inflection point in Quantum Computing Capital Mark
Slide 51: Governance update
/iqm.tech/ /iqm.tech/ Governance update *Appointments subject to successful completion of the proposed business combination agreement IQM Board of Directors Appointments by RAAQ* Alex Hannu Jan Sierk Barbara Juho Jeff Doll Martola Goetz Poetting Venneman Sarvikas Tuder Director Director Director Cha
Slide 52: State of Quantum Report
/iqm.tech/ /iqm.tech/ State of Quantum Report The definitive annual report on the global quantum computing market Published by IQM Quantum Computers in partnership with The Quantum Insider, this fourth-edition report tracks the commercial, technical, and organizational state of quantum computing: dr
Slide 53: State of Quantum Report
/iqm.tech/ /iqm.tech/ State of Quantum Report Scan the QR code Capital Markets Day P UBLI C June 2026
Slide 54: Thank You
/iqm.tech/ /iqm.tech/ Thank You Take the ‘fast lane’ to Quantum advantage IQM Quantum Computers Capital Markets Day P UBLI C June 2026