Imagine Memory Everywhere™ Thin Film Electronics ASA (“Thinfilm”): A Smarter Everyday Powered by Printed Electronics Bringing Intelligence To Everything Thinfilm Roadshow October 2013
The $100bn Market Gap Penetration of electronic intelligence in physical objects Imagine Memory Everywhere™ The market gap Bringing intelligence to everything 5-10 trillion [# disposable items A Smarter Everyday sold in 2012] Value potential of adding intelligence: 80 billion $100bn Why hasn’t this gap been addressed? [# apparel items sold in 2012] [~1% of retail value] • Cost of silicon and integration 15 billion • Lack of scalability for conventional [# microcontrollers sold in 2012] electronics Value of embedded electronic intelligence 1 : 2.3 billion $315bn A new paradigm needed to create the [# computing /mobile devices sold in 2012] Internet of Everything [~21% of retail value] 60 million [# cars sold in 2012] Existing market 1 Global semiconductor market (2012) Source: IDC; Gartner; World Bank; IMF; The Semiconductor Industry Association ; OICA; IC Insight; MarketLine; Apparel Market; Planet Forward
Printing electronics breaks the cost & scalability barriers Memory Labels Sensor & Display Labels Memory Labels Near-field Smart Labels Imagine Memory Everywhere™ Silicon Printed Silicon Sensor Printed Sensor Silicon sensor Printed Sensor EEProm Memory System System systems w/ Label w/ near- wireless field read 6.5₵ 2₵ - 5₵ $11+ 30₵ - 50₵ communication $25+ 50 ₵ - $1.00 Current Product: Q3 2013 Current Development (2014) Next Step (2016) Extend Scale-up Create
Printing electronics breaks the cost & scalability barriers Memory Labels Sensor & Display Labels Memory Labels Near-field Smart Labels Imagine Memory Everywhere™ Silicon Printed Silicon Sensor Printed Sensor Silicon sensor Printed Sensor EEProm Memory System System systems w/ Label w/ near- “the companies changing wireless field read 6.5₵ 2₵ - 5₵ $11+ 30₵ - 50₵ communication the mobile landscape in the $25+ 50 ₵ - $1.00 most profound ways ” Mobile 15 2012 Current Product: Q3 2013 Current Development (2014) Next Step (2016) Extend Scale-up Create Near-field communication catalyzes the Internet of Everything
Commercial deals validate vision; Megatrends accelerate it Agreements with Fortune 1000 companies Megatrends acceleration Imagine Memory Everywhere™ “ Internet of Everything’ is an Global leader in flexible packaging • exponential proxy for sensing, ( ~200bn packages/year ) • understanding and managing our world. Top 2 global Toys & Games Dave Evans, Chief Futurist, Cisco Systems • Monopoly, Trivial Pursuit & • Scrabble Connected objects by 2020: Global fast-moving consumer Cisco – 50 Billion; IBM – 1 Trillion • Consumer goods company Goods Sales > $50bn • 1 in 3 Mobile Phones with NFC by 2017; 300% growth in 2012 Major company in high-value • ID & identification Smart Labels Printed Electronics $40-$50Billion “Our agreement with Thinfilm could make market by 2020 — IDTechEx printed electronics a component of every package we manufacture .” Henry Theisen, CEO, Bemis
Thinfilm Uniquely Positioned to Deliver Commercial Value Imagine Memory Everywhere™ “Thinfilm’s announcement of high volume production is the latest validation point for the commercialization of printed electronic devices.” Michael Palma, IDC Memory + Logic: Extensible platform for printed integrated systems Strong ecosystem to deliver complete product
Integrated systems ahead of schedule October 2013 Major logic blocks demonstrated for closed systems July 2012 Imagine Memory Everywhere™ Imagine Memory Everywhere™ Concept Illustration Electrodes for addition sensor ink of Memory Demonstrated December 2012 – October 2013 BIPP Target Specifications Printed Memory Printed Memory Resistive Temperature sensor Electrodes for incorporating resistive sensor Printed Logic for reading sensor data Printed Logic for reading sensor Printed Logic to write to memory Printed Logic to write to memory Integrated battery power source In-label power source Printed display (w/ organic display driver) Optional display read-out Wireless development next step for 2014 Wireless read via near-field RF
Addressable Market of $20-25bn Application Market size ($ bn) Imagine Memory Everywhere™ Monitoring of 1-2 Thinfilm Tags perishable goods Attractive Trillions Interactive 2-5 opportunities Devices packaging for partners ~2bn Personal 1-1.5 health care to create value in Software systems and Dynamic <1mm 5-10 price display solutions Cloud Anti-theft/ 2 brand protection Logistics 2-5 ~40k NFC & "Internet 10+ of Everything"
Application Example: Brand Protection Thinfilm Positioning Memory Labels Imagine Memory Everywhere™ Taggants HIGH Watermarks RFID Security/ Leverages unique properties Ease of use of Thinfilm Memory Holograms LOW Commercial contract with FMCG company Bar codes HIGH LOW $79 Billion Market 2014 Price 9% CAGR
Thinfilm Brand Protection Imagine Memory Everywhere™ Authentic Not authentic Measuring … Simple Conclusive Impossible to reverse engineer
Application Example: Time-Temperature Sensor Label Thinfilm Positioning Sensor & Display Labels Imagine Memory Everywhere™ Low Cost per function Temperature Monitoring for Sweet-spot Perishable Goods $1.4 Billion in 2010 9% CAGR High 500,000,000 color changing Color Simple changing Tracker labels sold per year labels Data Loggers & Alarm Tags Low High System performance
Revenue Target of $1.5bn By 2020 Thinfilm revenue projections, 2014-2020; USD millions Imagine Memory Everywhere™ 1,500 Key driver Market estimate Market share USDbn 2020 NFC Systems S&D Brand Protection Labels Near-field systems will catalyze the 10+ 8-10% Internet of Everything Disposable electronics in sensor and 10-15 4-5% display labels 300 Replacing holograms with more secure 15-20% 5 9 alternative 2014 2016 2020 Systems 5 1,400 11,000 # labels sold (millions) BP 100 5,000 24,000 GM BE 40% 60%
28 USDm cash position post Q3 financing 29 Imagine Memory Everywhere™ ► Positive operational cash expected in 2016 23 ► Capex in 2014 - 2016 dependent on JV and licensing partners 5 ► Outstanding warrants may provide the Company with an additional 23 USDm Q2 cash Q3 financing Cash post in 2014 – 2016 Q3 financing ► Forecast model for 2014 – 2016 based 2012 2013 2014 2015 2016 [USDm] on expected share of production of Revenues 1 2 9 60 300 partners Operational cash -7 -7 -8 -12 40 Capex 0 -3 -12 -18 -15 Net Cash Flow -7 -10 -20 -30 25 Cash start of year 1 6 23 3 -27 Financing 11 27 0 0 0 Cash end of year 6 23 3 -27 -2
Award Winning Technology Portfolio Imagine Memory Everywhere™ ► 2012 Wall Street Journal Innovation Awards ► 2012 World Technology Award, sponsored by CNN, Time, Science, and Technology Review ► 2012 IDTechEx Product Development (#1 consulting firm in Printed Electronics) ► 2012 FlexTech Innovation Award (US National Consortium on Printed and Flexible Electronics) ► 2010 Frost & Sullivan Product Development ► 2009 IDTechEx Manufacturing Award
Imagine Memory Everywhere™ APPENDIX
International Footprint; Installed Manufacturing Capacity US Japan Imagine Memory Everywhere™ Tokyo (Sales) San Francisco (Sales) Sweden Norway Korea Pyoungtaek Kroenert R2R printer: 200 million units per year of memory (production at InkTec) Linköping Oslo (Production (HQ, Sales) and R&D) Chemistry and Print Ohio GT gravure printer: Laboratory 50 million units of logic
THIN.OL (Oslo Axess) – Mcap 380 USDm Top 20 Shareholders THIN share price 12 months [NOK] 6.0 Name of shareholder Number of shares Share [%] Imagine Memory Everywhere™ INVESCO PERP HIGH IN BNY MELLON SA/NV 56 000 000 13.2 % 5.0 EUROCLEAR BANK S.A./ 25% CLIENTS 54 449 163 12.9 % ASAH AS 25 500 000 6.0 % 4.0 SIMPSON FINANCIAL LT 17 123 940 4.0 % AS HOLDING AS 14 734 247 3.5 % 3.0 HÅVI AS 14 708 100 3.5 % MP PENSJON PK 11 354 165 2.7 % 2.0 DUKAT AS 10 080 000 2.4 % ALDEN AS 9 890 000 2.3 % 1.0 FOOD INTERNATIONAL L 9 131 162 2.2 % Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 FORSLAND RUNAR 8 268 795 2.0 % SOLON AS 8 170 000 1.9 % GPR TECHNOLOGY FUND 6 902 974 1.6 % THIN share price 5 years [NOK] STOREBRAND VEKST JPMORGAN EUROPE LTD, 6 246 419 1.5 % 6.0 CHARLES STREET INTER C/O MOLARD FINANCIAL 5 728 174 1.4 % FESTVÅG AS 5 565 448 1.3 % 5.0 FOOD INTERNATIONAL L 5 250 698 1.2 % 4.0 MARITIM KOMPETANSE A 5 100 000 1.2 % HYSON LIMITED 3 788 116 0.9 % 3.0 STATOIL PENSJON C/O JP MORGAN CHASE 3 683 874 0.9 % 141 445 117 2.0 Other 33.4 % Total shares outstanding 423 120 392 100.0 % 1.0 Partner investor PARC holds 2.4 mln shares 0.0 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14
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