Ionq, Inc. · NYSE:IONQ
Ionq — Merger or Acquisition (January 2026)
16 slides from Ionq's merger presentation, Jan 26, 2026
Slide 1: The Only Vertically Integrated Full-Stack Quantum Platform Company
Exhibit 99.2 The Only Vertically Integrated Full-Stack Quantum Platform Company End-to-end innovation, engineering, manufacturing, and deployment — Across quantum computing, quantum networking, quantum sensing, and quantum security +
Slide 2: Important Information and Where to Find It
Important Information and Where to Find It In connection with the acquisition described in this presentation (the “Transaction”), IonQ, Inc. (“IonQ”) intends to file with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4 (the “Registration Statement ) which will
Slide 3: IonQ and SkyWater company introductions
Niccolo de Masi Thomas Sonderman Chairman & CEO CEO + World’s leading quantum platform company delivering Largest U.S.-based, pure-play semiconductor foundry; solutions for quantum computing, quantum DMEA-accredited and Category 1A Trusted networking, quantum sensing, & quantum security Specializing
Slide 4: Transaction Overview
Transaction Overview Transaction Structure IonQ (NYSE: IONQ) to acquire 100% of SkyWater Technology (NASDAQ: SKYT) Equity Value $1.8 Billion ($35.00 per share) 1 Consideration Mix $15.00 cash / $20.00 stock SkyWater to operate as a wholly-owned subsidiary of IonQ, with CEO in place Operating Model t
Slide 5: Quantum is Now and Scaling Requires Rapid Iteration and Secure Onshore Fabrication
Quantum is Now and Scaling Requires Rapid Iteration and Secure Onshore Fabrication Then | Quantum Computing Now | Quantum Infrastructure Critical to Nation States 2024 2025 2026 • Quantum computing • Quantum computing, quantum networking, quantum sensing, • 5-year roadmap scaling to and quantum secu
Slide 6: The Only Vertically Integrated Full-Stack Quantum Platform Company
+ The Only Vertically Integrated Full-Stack Quantum Platform Company Accelerates Fault-Tolerant Quantum Computing Roadmap through embedded secure access to Trusted 1 foundry. 200,000 qubit QPUs enabling 8,000 logical qubits expected to start functional testing in 2028 Helps ensure manufacturability
Slide 7: SkyWater Delivers Unique Value to IonQ via Deep Integration and Technology as a Service Model
SkyWater Delivers Unique Value to IonQ via Deep Integration and Technology as a Service Model Closer Engineering Alignment Technology as a Service Parallel Innovation Paths Parallel innovation paths Embedding IonQ system and TaaS foundry model enables accelerate progress toward product engineers wit
Slide 8: IonQ's Roadmap Milestones are Based on Highly-Developed Semiconductor Scaling Pathways
IonQ’s Roadmap Milestones are Based on Highly-Developed Semiconductor Scaling Pathways 2-qubit 256-qubit 10,000s qubit 100,000s qubit Millions qubit unit cell quantum computer quantum computer quantum computer quantum computer 99.99% fidelity Many 2-qubit unit cells Add multiplexing Die shrink to op
Slide 9: Accelerating the Path to Fault-Tolerant Quantum Computing via Embedded Access to Trusted Foundry
Accelerating the Path to Fault-Tolerant Quantum Computing via Embedded Access to Trusted Foundry ACCELERATES TOTAL REDUCED CHIP CHIP CYCLE TIMES AND ROADMAP ITERATION TIMES 256-qubit chip cycle time expected to Faster learning cycles 1 accelerate engineering reduce from 9 months to 2 months pace Sta
Slide 10: Our First 200,000 Qubit QPUs and Beyond Expected to be Available Earlier
Our First 200,000 Qubit QPUs and Beyond Expected to be Available Earlier, with Functional Testing Starting in 2028 CY27 CY28 CY29 CY25 CY26 CY30 2,000,000 Now ready for functional testing 100,000 1,000,000 200,000 in 2028 80,000 100,000 10,000 20,000 10,000 10,000 8,000 1,000 100-256+ 1,000 64-100+
Slide 11: Vertically Integrating Ensures Mass Manufacturability and Industry-Leading Costs at Scale
Vertically Integrating Ensures Mass Manufacturability and Industry-Leading Costs at Scale Minimizes Unit Economics Creates Fully Integrated Quantum Product Lifecycle Best in Class Cost per Physical Qubit Model of tight innovation, engineering, and manufacturing Design and Prototype Ion Trap, ASIC, M
Slide 12: Powering the Next Era of U.S. and Allied Quantum Leadership
Powering the Next Era of U.S. and Allied Quantum Leadership Sovereign Quantum Supply Chain, with Trusted Fab for Full Fault Tolerance at Highest Security R&D and Manufacturing Bloomington, MN Compute Manufacturing Bothell, WA IonQ Headquarters College Park, MD End-to-End U.S. Chain of Custody Space
Slide 13: IonQ Will Proudly Continue to Support Critical U.S., Allied, and Partner Initiatives
IonQ Will Proudly Continue to Support Critical U.S., Allied, and Partner Initiatives in the Quantum Technology Race Robert Cardillo Gen. Jay Raymond Katie Arrington Executive Chairman of Former Chief of Space Chief Information IonQ Federal Operations Officer National Geospatial United States Air For
Slide 14: SkyWater Acquisition Follows Deliberate Strategy to Build Our Full-Stack Quantum Platform
SkyWater Acquisition Follows Deliberate Strategy to Build and Accelerate Our Full-Stack Quantum Platform 1 Capella & Skyloom ID Quantique Cybersecurity Lightsynq Vector Atomic Networking Sensing Compute Oxford Ionics Copyright © 2026 IonQ, Inc. All Rights Reserved. 14 1. Skyloom acquisition is pendi
Slide 15: IonQ + SkyWater: The Winning Quantum Platform
IonQ + SkyWater: The Winning Quantum Platform Our Goal Remains: serve the market as the preeminent, global, quantum platform leader Integrated Product Lifecycle: end-to-end design, manufacturing and delivery of secure quantum solutions Revenue Growth: IonQ and SkyWater jointly remain focused on grow
Slide 16: Qliona + # sxywoter
Qliona + # sxywoter