Slide 1: Investor & Analyst Day
Investor & Analyst Day September 16, 2022
Slide 2: Cautionary Notes
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
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
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 Reduce fuel consumption Conduct more accurate Increase economic untreatable diseases by by optimizing weather modeling
Slide 10: Competitive Moat Nearly 10 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 Narrow Broad Quantum Quantum Advantage Advantage Potential Revenue1 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 milest
Slide 14: Quantum Advantage: Our Central Focus
Quantum Advantage: Our Central Focus Quantum Focus: Quantum Machine Learning Advantage GTM Strategic Government & finance partners Business Model QCSTM Direct, Public clouds, & DoE Cloud Delivery System Architecture An industry leader in speed Hybrid Processor Architecture Unlocks performance at scal
Slide 15: Integrating Quantum into the Fabric of the Cloud
Integrating Quantum into the Fabric of the Cloud Power of the Cloud Heterogeneous Customer-centric Workflow 18
Slide 16: Copyright Rigetti Computing 2022
19 Copyright Rigetti Computing 2022
Slide 17: Large Untapped Opportunity for Quantum Computers
Large untapped opportunity for quantum computers that meet requirements for practical workloads Requirements for practical workloads Scale: 100s to 1000s of qubits Next gen Error Rates: < 0.5% Next gen Clock Speed: >1 MHz Fully Programmable & Universal (run general quantum algorithms) Manufacturable
Slide 18: On Track to Deliver our 2023 Systems
On Track to Deliver our 2023 Systems AnkaaTM LyraTM 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 accelerate
Slide 19: Rigetti Roadmap Aims to Reach Quantum Advantage
Rigetti Roadmap Aims to Reach Quantum Advantage1 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 & Hybrid
Slide 20: Partnerships Help Accelerate our Path
Partnerships Help Accelerate our Path1 Applications Access & Rigetti Production QCS™ Direct Quantum Cloud Services (QCSTM) 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,
Slide 21: Partnerships Help Accelerate our Path
Partnerships Help Accelerate our Path1 Collaborating with NVIDIA on hybrid GPU-QPU workflow for Applications weather modeling Access & Rigetti Production QCS™ Direct Quantum Cloud Services (QCSTM) Quantum Processing Units Chip Fabrication (Fab-1) 1 Prepared on the basis of certain technical, market,
Slide 22: Partnerships Help Accelerate our Path
Partnerships Help Accelerate our Path1 Applications Rigetti QCS™, which includes our current Access & 40-qubit Aspen-11 and 80-qubit Aspen-M-2 Production processors, is now available to all Microsoft Azure Quantum users in Public Preview Quantum Cloud Services (QCSTM) Quantum Processing Units Chip F
Slide 23: Partnerships Help Accelerate our Path
Partnerships Help Accelerate our Path1 Applications Access & Rigetti Production QCS™ Direct Rigetti and Keysight partnering to make Quantum Cloud Services (QCSTM) TrueQ error mitigation software available in QCSTM Quantum Processing Units Chip Fabrication (Fab-1) 1 Prepared on the basis of certain t
Slide 24: Partnerships Help Accelerate our Path
Partnerships Help Accelerate our Path1 Applications Access & Rigetti Production QCS™ Direct Quantum Cloud Services (QCSTM) Bluefors will deliver new modular Quantum dilution fridges to support our planned Processing Units 336Q, 1,000Q+, and 4,000Q+ quantum processing units Chip Fabrication (Fab-1) 1
Slide 25: Partnerships Help Accelerate our Path
Partnerships Help Accelerate our Path1 Applications Access & Rigetti Production QCS™ Direct Quantum Cloud Services (QCSTM) 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,
Slide 26: We choose to go to the moon in this decade
“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 27: 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 28: 2. Go to Market & Strategic Partnerships
2. Go to Market & Strategic Partnerships
Slide 29: 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 30: User Path to Quantum Advantage
Rigetti Perspective: User Path to Quantum Advantage Rigetti Focus Not yet Learning Proof of Advanced Operational Improved Engaged Concept Prototyping Quantum End-User KPIs Advantage Government: We believe quantum Commercial: We believe quantum advantage can drive mission advantage can create economi
Slide 31: 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 32: 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 33: 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 34: 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 Stack Services (QCSTM) QCS™ Direct Quantum Computing Summer School Quantum Process
Slide 35: 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 36: 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 37: Quantum Machine Learning for Finance
Rigetti Perspective Quantum Machine Learning for finance is poised to be an early domain of quantum advantage.
Slide 38: Quantum Computing for Finance
Quantum Computing for Finance We believe quantum computing can address many use cases Finance industry opportunity1 Customer ● Many hard computational problems Credit Experience Scoring Operations ● Potential significant economic benefits from Analysis incremental improvements Multi-stage Arbitrage Cu
Slide 39: 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 ● Track record with financial clients Software Libraries Core Technology ● Colocation accelerates hybrid algorithms ● Leveraging o
Slide 40: 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 41: Expansion Focus
Expansion Focus Our expansion strategies include growing our government business while expanding into commercial opportunities and extending our geographic footprint.
Slide 42: Quantum Information Science Spending is on the Rise
Quantum Information Science Spending is on the Rise CHIPS1 and Science Act: $280B bill to boost technological competitiveness includes $160M QUEST2 and $52B foundry support program Quantum Technologies Challenge: $198M3 in grants for quantum computing startups National Quantum Technologies Program:
Slide 43: 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 44: 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 45: Question & Answer
Question & Answer rigetti
Slide 46: 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 47: 3. Product Roadmap
rigetti | ) _ Product Roadmap
Slide 48: 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 49: Rigetti Roadmap Aims to Reach Quantum Advantage
Rigetti Roadmap Aims to Reach Quantum Advantage1 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 & Hybrid
Slide 50: Application Driven Approach to Quantum Advantage
Application Driven Approach to Quantum Advantage (QA) Broad QA Apps Narrow QA Apps Advantage-Capable Size Subroutine: Fidelity Reference Apps Non-simulatable quantum Emerging QA subroutines that can be Error applied to valuable problems. correction These subroutines are Advantage- required for nQA a
Slide 51: Optimization Illustrates Rigetti's Approach
Optimization Illustrates Rigetti’s Approach DARPA Program: Optimization with Noisy Intermediate Scale Quantum devices (ONISQ) ONISQ Phase 1 ONISQ Phase 2 Prototype Advanced Reference Prototype Application Rigetti QAOA internal Proof Broad QA Apps of Concept Narrow QA Apps Reference App 2019 2020 202
Slide 52: Quantum Advantage Strategy
Quantum Advantage Strategy Reference Advantage-capable 1 2 Applications subroutines Integrate technology Required for demonstrating into application for Narrow and Broad Quantum evaluating progress and Advantage for valuable engaging partners use-cases Error Mitigation 44 3 Benchmarking and Correcti
Slide 53: Building Reference Applications to Accelerate Progress
Building Reference Applications to Accelerate Progress Customers ● Integrate all components necessary to Full-scale use-case achieve Quantum Advantage dataset Hybrid Computation ● Broaden insights from prototype Quantum developments subroutine Classical Partners ● Continuously benchmarking progress
Slide 54: Focused on Useful Advantage-Capable Subroutines
Focused on Useful Advantage-Capable Subroutines Examples: QML Commercially Advantage-Capable Valuable Problem Optimization Subroutines Simulation x Sampling1,2 Low commercial value Machine Learning³ Classically reproducible Beyond-Classical ¹Arute, Frank, et al. “Quantum supremacy using a programmab
Slide 55: 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 56: Cautionary Notes
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 57: 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 and correct through software Encode quantum Check logical qubit ● Scaling driven by superconducting qubit data into a single state for potential architecture, multi-c
Slide 58: 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 59: Rigetti's Integrated Roadmap Focused on Progress Towards Quantum Advantage
Rigetti’s Integrated Roadmap Focused on Progress Towards Quantum Advantage ● Building infrastructure and technology to advance progress towards Quantum Advantage ● Offering products and services to help partners and customers in the same pursuit ● Integrated into the fabric of the cloud with QCS™ ● F
Slide 60: 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 61: 4. Quantum Cloud Services
rigetti ~ Quantum Cloud Services
Slide 62: Quantum processors as accelerators in hybrid 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 63: 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 High velocity development Off-line Machine Learning Demonstrate higher accuracy integrated with real world data image processing f
Slide 64: 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 65: QCS Delivering Hybrid Quantum Computing
QCS™ Delivering Hybrid Quantum Computing The Production Environment Hybrid Quantum Computing with QCS™ ● A distributed cloud hybrid Customer Cloud computing system Hybrid Quantum-Classical Computing System ● Customer resources located where the customer needs ● High performance integration of High P
Slide 66: 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 67: The QCS Stack
The QCS™ Stack Rigetti Rigetti Public QCS™ Direct QCS™ Anywhere Clouds Tools to support high performance QPU integration and application development Application Software ● Integrated Developer Environment (IDE) Processes ● Quantum Software Libraries Third Party Libraries IDE User ● Client Software D
Slide 68: 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 69: 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 platf
Slide 70: QCS Delivering High Performance
QCS™ Delivering High Performance Performance Matters Hybrid Quantum Computing with QCS™ ● Hybrid by design Hybrid Quantum-Classical Customer Cloud Computing System ● Deep integration with each component of the system ● High performance integration High Performance between classical and quantum resou
Slide 71: QCS Achieved 4.5x increase on CLOPS since February
QCS™ Achieved 4.5x increase on CLOPs1 since February 2 Based on publicly reported data, we believe Rigetti has the highest CLOPS1 of any publicly available quantum computing system. CLOPS1, or circuit layer operations per second, characterizes quantum processing speeds inclusive of gate speeds, repr
Slide 72: Rigetti Roadmap Aims to Reach Quantum Advantage
Rigetti Roadmap Aims to Reach Quantum Advantage1 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 & Hybrid
Slide 73: Partnerships Help Accelerate our Path
Partnerships Help Accelerate our Path1 Applications Access & Rigetti Production QCS™ Direct Quantum Cloud Services (QCSTM) 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,
Slide 74: Cautionary Notes
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 75: Question & Answer
Question & Answer rigetti
Slide 76: 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 77: 5. Rigetti Quantum Processing Units
5. Rigetti Quantum Processing Units
Slide 78: Quantum Processor Trailblazers
Quantum Processor Trailblazers: Rigetti’s strategic investments at the chip level underpin our pioneering roadmap in QPU performance at scale.
Slide 79: Rigetti Roadmap Aims to Reach Quantum Advantage
Rigetti Roadmap Aims to Reach Quantum Advantage1 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 & Hybrid
Slide 80: The Chip is the Heart of the Quantum Computer
The Chip is the Heart of the Quantum Computer Copyright Rigetti Computing 2022 83
Slide 81: Fab-1
Fab-1 Fremont, CA 84 Expansion in progress
Slide 82: Quantum Data Center and Test Facility
Quantum Data Center and Test Facility Berkeley & Fremont, CA Copyright Rigetti Computing 2022 85
Slide 83: FAB1 Accelerates R&D and Provides Competitive Advantage
Rigetti Perspective: FAB1 Accelerates R&D and Provides Competitive Advantage n sig Fa QPU De b Device Test Addresses Supply Accelerates IP Platform for Chain Risk Innovation Cycles Capital Efficiency Generation R&D Partnerships Helps mitigate unfavorable Rapid design, build, test Essential for scaling
Slide 84: Driving QPU Development: Performance at Scale
Driving QPU Development: Performance at Scale 99.5% 99% Multi-chip scaling Aspen-8 Median 2Q fidelity 5/2020 98% Aspen-7 12/2019 Aspen-11 12/2021 Aspen-4 4th generation 3/2019 architecture Aspen-3 Aspen-M1 95% 2/2019 2/2022 Agave Aspen-9 6/2017 2/2021 Aspen-M2 8/2022 90% Aspen-1 Early R&D work Acorn
Slide 85: 4th Gen Architecture: Designed for Quantum Advantage
4th Gen Architecture: Designed for Quantum Advantage Demonstrated 2Q gate fidelities as high as 99.5% on intermediate-scale prototypes1 Third Generation Fourth Generation Fixed couplers Tunable couplers We expect… … … … … Faster gates Denser lattice Higher fidelities … … Better connectivity … Optimiza
Slide 86: Progress to Ankaa 84Q
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 87: 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 vs 3D (Cross section) Signals routed Signals routed later
Slide 88: Leveraging Multi-Chip for Predictable Scaling
Leveraging Multi-Chip for Predictable Scaling Proprietary technology unlocked by 6+ years of fab-driven innovation Rigetti has pioneered 2027 or later modular scaling and Late Qubits owns a deep IP 2025 4,000Q portfolio underpinning our roadmap. Late 2023 4,000Q+ 1,000Q 1,000Q+ Q1 Early 300Q 2022 20
Slide 89: 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 RigettiComputing Copyright Rigetti Computing2022 2022
Slide 90: Question & Answer
Question & Answer rigetti
Slide 91: 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 92: 6. Financials
rigetti ay — Financials
Slide 93: Financial Strategy
Financial strategy: Financial Strategy Enabling value creation through progress against our roadmap. 96
Slide 94: High-value use cases through a differentiated 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 95: 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 96: 1H22 Financial Snapshot
1H22 Financial Snapshot - Year 11 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 97: 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 G&A S&M Largest component of our 46.5% GAAP 5.6% GAAP 47.9% GAAP cost structure at ~ 60% of our cash Opex YTD ● Full stack approach
Slide 98: FY22 Outlook
FY22 Outlook Long term business model - QCaaS 2022 Progress being made against potential ~$4M revenue deferral due to Revenue: $12-$13 million ongoing contract discussions with existing customer - major US gov agency Adjusted EBITDA1: Ongoing supply constraints, higher headcount costs and public ($5
Slide 99: 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 100: 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 101: Pioneers and Innovators in Quantum
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 102: Question & Answer
Question & Answer rigetti
Slide 103: 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 104: Appendix
Appendix rigetti
Slide 105: 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: Depreciation $ 2,978 $ 2,362 Stock compensation 22,522 1,118 Interest expense (net) 2,244 481 Change in
Slide 106: 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: Depreciation $ (2,978) $ (2,362) Stock compensation (22,522) (1,118) Change
Slide 107: Investor & Analyst Day
Investor & Analyst Day September 16, 2022