Horizon Quantum Holdings Ltd. · NASDAQ:HQ
Horizon Quantum — SPAC Merger (January 2026)
57 slides from Horizon Quantum's SPAC merger presentation, Jan 12, 2026
Slide 1: Horizon Quantum: Building the software infrastructure to power tomorrow's computers
horizon quantum Building the software infrastructure to power tomorrow's computers
Slide 2: Cautionary Notes
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Slide 3: Cautionary Notes (Continued)
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Slide 4: Cautionary Notes (Continued)
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Slide 5: dMY Management Team
dMY Management Team DECADES OF EXPERIENCE CREATING SHAREHOLDER VALUE Harry You Chairman, dMY Technology Group Member of Executive Committee, Broadcom + Former Lead independent Director, lon + Former EVP, Office of Chairman, EMC + Former President, CFO, Co-Founder, GTY + Former CEO, Bearing Point, KP
Slide 6: Transaction overview
Transaction overview Valuation + Horizon Quantum valued at $500M pre-money equity value + Valuation to increase dolar-for-dollar by the amount of any financing raised prior to close ($79M SAFE financing raised)" + Average pure-play public quantum computing market cap=~$108" Transaction highlights +
Slide 7: Our mission is to unlock broad quantum advantage
Our mission is to unlock broad quantum advantage by building software infrastructure that empowers developers to use quantum computing to solve the world’s toughest computational problems.
Slide 8: First-mover advantage in quantum software infrastructure
First-mover advantage in quantum software infrastructure @ We believe that software will drive @ World-class, deep-science team focused on commercial adoption of quantum hardware quantum software @ Hardware-agnostic approach anticipated to @ Product & GTM roadmap designed to deliver give users the f
Slide 9: No computer is effective without software
No computer is effective without software... ... and classical code doesn't run on quantum machines.
Slide 10: The platform layer unlocks the value of every new computing technology
The platform layer unlocks the value of every new computing technology Horizon Quantum is building the software infrastructure to set the standard for developing, deploying and executing quantum software, regardless of which hardware prevails! Windows 10S / Android Aws Nvidia Cuda vMware Triple Alph
Slide 11: At the heart of quantum computing
At the heart @® ceveroren of quantum computing © AtcoritHM synTHESIS WE SEEK TO BRIDGE THE GAP BETWEEN TODAY'S HARDWARE AND TOMORROW'S “LANGUAGES APPLICATIONS VW / By connecting developers, end users, and hardware / “COMPILERS: providers, we believe our quantum software infrastructure is positioned
Slide 12: Today, developers face major barriers to harness quantum computing
Today, developers face major barriers to harness quantum computing just like in the early days of classical computing Hardware is only half the picture - software is needed to drive quantum advantage. Creating quantum algorithms Hardware is diverse and Programming languages lack is difficult, non-in
Slide 13: What if programming a quantum computer was as simple as writing a Python script?
What if programming a quantum computer was as simple as writing a Python script?
Slide 14: Roadmap with existing product Triple Alpha
Rowdmapwth esting P parrucnreg 8 note We are developing Classical Program Classification Construction technology to bridge from classical to quantum We are executing an ambitious plan to enable software developers to access the power of quantum computing by developing tools to automatically accelera
Slide 15: Enabling developers to code, compile and deploy with Triple Alpha
We are already enabling developers to code, compile and deploy sophisticated applications with Triple Alpha Triple Alpha is currently in early access with select hardware and software partners eH) triple alpha meee:
Slide 16: Triple Alpha makes serious quantum software development possible
General Compute Fenty ——_———— Portabilty ajsouBe warshs Specific Functions Q. Source: Functionality analysis diagram prepared by Horizon Quantum managernent for HMustrative purposes. Triple Alpha makes serious quantum software development possible Existing approaches to programming quantum computers
Slide 17: Our runtime environment is emerging as a true quantum operating system kernel
Our runtime environment is emerging as a true quantum operating system kernel Triple Alpha overcomes limitations of hardware backends in software, seamlessly stitching together multiple hardware calls to enable enhanced fun ‘ies like dynamic memory allocation and network I/O, we believe Triple Alpha
Slide 18: Our tools are designed to set a new standard for quantum software infrastructure
Our tools are designed to set a new standard for quantum software infrastructure Development Infrastructure ‘Triple Alpha allows developers to create programs using high-level programming languages and compile them to optimised system-specific code. High level programming Optimising complier Portabl
Slide 19: We take hardware integration seriously by operating our own quantum computers
We take hardware integration seriously by operating our own quantum computers Horizon Quantum has completed the assembly and integration of a quantum computer to become the first quantum software ‘company to own and run a quantum computer. Our on-site testbed has capacity for additional quantum comp
Slide 20: Our strategy positions us to grow as quantum computing scales
Our strategy positions us to grow as quantum computing scales Hardware Partners Software Partners Pu Control Systems Quantum software Developers Academia and Alternative Partners Research Groups Cloud Providers Inbound access requests received from: 40+ Major Corporations. 80+/8 Universities / Times
Slide 21: Our approach with partners to become default software infrastructure
Our approach with partners is designed to enable our tools to become the default software infrastructure for hardware vendors Our approach with partners provides a pathway for manufacturers to increasingly integrate their hardware with Triple Alpha. This enables us to offer hardware from a manufactu
Slide 22: Applications run through our infrastructure
Applications run through our infrastructure. This is expected to enable usage-based pricing that aligns with value creation for developers.
Slide 23: A world-class, deep-science team
We've assembled a world-class, deep-science team to close the gap between quantum hardware and practical application Dr Joe Fitzsimons Chief Executive Officer Invented blind tum computing ® oxtoin COOP. seme Over 20 years experience in quantum ‘computing, with key contributions to system architectur
Slide 24: A team with experience across technology organisations
Ateam with expe! Greg Gould Chief Financial Oficer Greg brings 35+ years of experience in france & tech company leadership, including as MD at Goldman Sachs and a strategic CFO at nsurech company, Groundspeed Analytics. Egan Eoin Scanlon VP of Operations Atetited Irish Army Lieutenant Colonel, Eoin
Slide 25: Company history & investment
Company history & investment We have successfully seeded and grown multiple departments with intentional strategy of hiring leaders and then building out their teams. 60, Science Product Design Marcomms, 40. Human Resources Finance Business Operations Software Engineering 20 | ‘Commercial Operations
Slide 26: Quantum computing has reached an inflection point
Quantum computing has reached an inflection point PRACTICAL QUANTUM ADVANTAGE IS EXPECTED IN THE COMING YEARS Error correction is now a reality Quantum error correction has progressed rapidly in the last 18 months, with full quantum error correction convincingly demonstrated for the first time in la
Slide 27: In past technology cycles, software has captured more value than hardware
In past technology cycles, software has captured more value than hardware. Quantum computing may follow this trend.
Slide 28: Commercial applications are likely to emerge soon
Commercial applications are likely to emerge soon, the application infrastructure needs to be ready In a 2024 report on the state of quantum comp most of the quantum computing experts polled anticipated commercial applications to emerge within the next 5 years. rf Developers and domain experts need
Slide 29: Historical Financials
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Slide 30: Transaction Designed to Fund Platform Expansion
Transaction Designed to Fund Platform Expansion (uss74m) 0 — (ussi2.6M) IMustative Transaction aes Funding’ =) ‘Annualized June '25 TH Cash OPEXand CAPEX Public company expenses Annualized $12,6M consists of annualized approximately USS91M in cash OPEX and CAPEX as of June 2025, plus estimated incre
Slide 31: Capital-efficient software & SaaS model in quantum computing
Capital-efficient software & SaaS model in quantum computing Although we depend on quantum advantage being as achieved, we enjoy a number of strengths: @ Strong technical team with proven track record in quantum computing @ Compelling technology to power quantum computing applications e Software bus
Slide 32: Horizon Quantum
horizon quantum
Slide 33: Appendix A: Glossary
ee Appendix A: Glossary
Slide 34: Glossary
GLOSSARY Algorithm — An algorithm is a finite set of step-by-step instructions for solving a type of problem or carrying out a computation. Algorithms are a cornerstone of computer science and form the building blocks of computer programs. They are used for calculation, data processing, and ‘automat
Slide 35: Glossary (Continued)
GLOSSARY (CONTINUED) Concurrent classical functions — In quantum computing, concurrent classical functions are classical computations that run at the same time as a ‘quantum circuit, rather than only before or after it. Traditionally, quantum programs are structured as static circuits: the circuit i
Slide 36: Glossary (Continued)
GLOSSARY (CONTINUED) Dynamic memory allocation — In classical computing, dynamic memory allocation is the process of assigning memory to a program while it is running, rather than fixing the memory size in advance. Instead of the programmer deciding ahead of time how much memory is needed, the progr
Slide 37: Glossary (Continued)
GLOSSARY (CONTINUED) Error correction — Quantum error correction is @ method used to protect quantum information from errors caused by environmental disturbances, hardware imperfections, or unwanted interactions that can cause qubits to change state. Unlike classical error correction, which can rely
Slide 38: Glossary (Continued)
GLOSSARY (CONTINUED) Gate-level code — in quantum computing, gate-level code refers to programs written directly in terms of the quantum gates that act on qubits. At this level, the programmer specifies the exact sequence of gate operations—such as Hadamard or CNOT—that make up a quantum circuit. Ga
Slide 39: Glossary (Continued)
GLOSSARY (CONTINUED) Libraries — In the context of programming quantum computers, a library is a collection of pre-written code that can be called from within a conventional programming language, such as Python. These libraries provide ready-to-use primitives, utilities, and sometimes full algorithm
Slide 40: Glossary (Continued)
GLOSSARY (CONTINUED) Model-based synthesis — In quantum computing, model-based synthesis is a way to generate circuits from a high-level description of an algorithm and explicit design constraints. Instead of assembling fixed gate templates, a developer specifies the algorithm's intent (such as arit
Slide 41: Glossary (Continued)
GLOSSARY (CONTINUED) Physical qubit — A physical qubit is the hardware-based implementation of a qubit in a quantum computer. Physical qubits can be realized in many different forms, depending on the hardware modality, such as trapped fons, neutral atoms, or photons. They are the raw qubits built di
Slide 42: Glossary (Continued)
GLOSSARY (CONTINUED) ‘Quantum advantage — In quantum computing, quantum advantage refers broadly to the point at which a quantum computer can solve a problem. more efficiently than the best known classical methods running on the best classical hardware. However, the term has no universal definition,
Slide 43: Glossary (Continued)
GLOSSARY (CONTINUED) ‘Qubit (quantum bit) — A qubit isthe basic unit of information in quantum computing, analogous to the bit in classical computing. While a classical bit can only take the value 0 or 1,a qubit can exist in a superposition, meaning it has some chance of being measured as either 0 o
Slide 44: Glossary (Continued)
GLOSSARY (CONTINUED) Runtime environment — A runtime environment is the support system a program needs while it is running. It provides the behind-the-scenes services that allow code to execute smoothly, such as managing memory, handling input and output, and giving the program access to hardware re
Slide 45: Glossary (Continued)
GLOSSARY (CONTINUED) ‘Superconducting qubits — A superconducting qubit is implemented on specialized chip, typically made of silicon or sapphire, using microfabrication techniques similar to those used in classical processors. Superconducting qubits are tiny electrical circuits made from superconduc
Slide 46: Glossary (Continued)
GLOSSARY (CONTINUED) ‘Turing-complete language — A Turing-complete language is a programming language that can be used to express any computation that any ‘computer can perform, given enough time and memory. To be Turing complete, @ language must support (or allow the construction of) basic features
Slide 47: Appendix B: Why Quantum Computing?
= Appendix B: Why Quantum Computing?
Slide 48: Classical computing is approaching the limits of Moore's Law
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Slide 49: Quantum changes the game, it's time for Neven's Law
Quantum changes the game, it’s time for Neven’s Law Where Moore's Law predicts exponential growth in the capacity of conventional computers, Neven's Law suggests double-exponential growth for quantum computers due to a combination of exponential qubit growth over time and the increased in the diffic
Slide 50: History may be rhyming
43 1947 © McCulloch-Pitts © Simplex algorithm anifcial neuron | History may be rhyming Progress in quantum applications appears to be mirroring the history of early classical Cheam computers © Festroule © MontsCaio oa paren 1 ay 190 ; a Seva reg © Cat Fecornon © Cryptanalysis pan 7. & rene Onna © Hu
Slide 51: Appendix C: Risk Factors
= Appendix C: Risk Factors
Slide 52: Certain Risks Related to the Company and its Anticipated Business Combination
CERTAIN RISKS RELATED TO THE COMPANY AND ITS ANTICIPATED BUSINESS COMBINATION All references to the “Company,” “Horizon” “we? “us" or “our” below refer to the business of Horizon Quantum Computing Pte. Ltd. All references to “Holdco” in below refer to Horizon’s business following its anticipated bus
Slide 53: Certain Risks Related to the Company and its Anticipated Business Combination (Continued)
CERTAIN RISKS RELATED TO THE COMPANY AND ITS ANTICIPATED BUSINESS COMBINATION (CONTINUED) + Ifwe fail to attract customers, including government entities and large enterprises, and retain and increase the spending of such customers over time, our revenue, business, results of operations, financial c
Slide 54: Certain Risks Related to the Company and its Anticipated Business Combination (Continued)
CERTAIN RISKS RELATED TO THE COMPANY AND ITS ANTICIPATED BUSINESS COMBINATION (CONTINUED) + The quantum computing industry is in its early stages and volatile, and if it does not develop, if it develops slower than we expect, ifit develops in a manner that does not require use of our quantum computi
Slide 55: Certain Risks Related to the Company and its Anticipated Business Combination (Continued)
CERTAIN RISKS RELATED TO THE COMPANY AND ITS ANTICIPATED BUSINESS COMBINATION (CONTINUED) + We may face patent infringement and other intellectual property claims that could be costly to defend, result in injunctions and significant damage awards or other costs, + Singapore take-over laws contain pr
Slide 56: Risks Related to dMY and the Business Combination
CERTAIN RISKS RELATED TO THE COMPANY AND ITS ANTICIPATED BUSINESS COMBINATION (CONTINUED) Risks Related to dMY and the Business Combination + dMY's securities were delisted from trading on the NYSE American exchange and are traded on the OTC Markets, which could limit investors’ ability to make tran
Slide 57: Risks Related to the PIPE Financing
CERTAIN RISKS RELATED TO THE COMPANY AND ITS ANTICIPATED BUSINESS COMBINATION (CONTINUED) Risks Related to the PIPE Financing + The PIPE Financing will only be consummated if the Business Combination closes, and the closing of the Business Combination is subject to a number of closing conditions, so