ASX: BRN Investor Presentation April 2016
Disclaimer ASX: BRN This presentation is not a prospectus nor an offer for securities in an� �urisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessar� for investment decisions. In making investment decisions in connection with an� ac�uisition of securities� investors should rel� on their own e�amination of the assets and consult their own legal� business and�or financial advisers. The information contained in this presentation has been prepared in good faith b� BrainChip Holdings Ltd� however no representation or warrant� e�pressed or implied is made as to the accurac�� correctness� completeness or ade�uac� of an� statements� estimates� opinions or other information contained in this presentation. To the ma�imum e�tent permitted b� law� BrainChip Holdings Ltd� its directors� officers� emplo�ees and agents disclaim liabilit� for an� loss or damage which ma� be suffered b� an� person through the use or reliance on an�thing contained in or omitted in this presentation. Certain information in this presentation refers to the intentions of BrainChip Holdings Ltd� but these are not intended to be forecasts� forward looking statements or statements about future matters for the purposes of the corporations act or an� other applicable law. The occurrence of events in the future are sub�ect to risks� uncertainties and other factors that ma� cause BrainChip�s actual results� performance or achievements to differ from those referred to in this presentation. Accordingl�� BrainChip Holdings Ltd� its directors� officers� emplo�ees and agents do not give an� assurance or guarantee that the occurrence of the events referred to in the presentation will actuall� occur as contemplated. 2
The Ne�t �eneration o� �ast� Autonomous �achine Learnin�
Overview ASX: BRN BrainChip has �evelope� a revolutionary Spi�in� Neuron A�aptive Processor �SNAP� technolo�y that learns autonomously an� unsupervise�� evolves an� associates in�ormation �ust li�e the human �rain SNAP technolog� provides rapid and autonomous learning� confirmed in the Autonomous Visual Feature ��traction demonstration in March 2016 SNAP is deplo�able across multiple fast‐growing markets BrainChip follows a proven Semiconductor industr� ASX Co�e BRN Intellectual Propert� (IP) licensing model in deriving Market Cap A�127.1M (April14 2016) its revenue from License� �ngineering and Ro�alt� Share Price fees A�0.18 (April14 2016) Issued Shares 706.38M �ptions 29.55M Cash (March 31 �S�803�000 4 2016)
SNAP’s Unique Features ASX: BRN Ne�t �eneration rapi� real time learnin� � learns autonomousl� within seconds A revolutionar� custom �i�ital har��are �esi�n � no traditional processing core� no firmware� no e�ternal memor� Real time reco�nition at ver� lo� latency �assive parallel e�ecution � all neural nodes are updated at the same time� enabling a spee� thousan�s of times �aster than peer so�t�are neural net�or�s Performs consistently at e�ceptionally hi�h spee� and does not slow down with network size Si�ni�icantly lo�er po�er consumption enables large networks to be integrated into portable devices 5
SNAP Solutions Block Diagram ASX: BRN Actionable Labeled BrainChip Solution Data SNAP‐64 Core Signal Conditioning Low Power Configurable Low SNN Power SNN �nvironmental Sensor� Data Labeling Low Latenc� Network Autonomous Feature ��traction �ptional Partner IP 6
Unsupervised Learning – The New Frontier ASX: BRN • 15 March 2016 – Release of Milestone 3 the Autonomous Visual Feature ��traction Neural Network with a Client � Server Application tool • Demonstrated SNAP based Real Time Pattern Learning and Recognition working in a chip (FPGA) hardware • Autonomous and �nsupervised Learning at 1Mhz matching camera time resolution • Milestone 3 AVF� Video Demo: SNAP based Spiking Neural Network 7
Leading The Next Generation ASX: BRN Ne�t �eneration: Rapi� Real Time Learnin� • Re�uires a small sample set • Learns within seconds • Autonomousl� learns and e�tracts features Previous �eneration: �eep Learnin� • Re�uires millions of samples • Learns features in da�s or weeks SNAP is a standalone fast machine learning technolog� capable of accelerating a technolog�‐partner�s e�isting deep learning solutions 8
Market Opportunity ASX: BRN � Smartphones The Neuromorphic Chip Market is estimated will be � Internet o� Thin�s �IoT� worth ���� �illion �y 2022 �ith a CA�R o� 26��1�� � �rones� ha�ar� avoi�ance� mappin� License opportunities and related revenues are � �amin� significant and highlighted in slide 15 � Security an� Cy�er Neuromorphic sector and Arti�icial Intelli�ence have Security been seeking SNAP�s capabilities � �riverless Vehicles SNAP IP is a core enabling technolog� in Neuromorphic semiconductor chips Neuromorphic chips can be used in nearl� an� smart application or product – a massive and unlimited market �Source: Markets and Markets 2015 Report 9
Commercialisation Strategy ASX: BRN Grow a network of technolo�y partners � and OE� customers for licensing and to satisf� growing needs in Arti�icial Intelli�ence an� Business Intelli�ence Create high tech products that inte�rate into technolog� partners solutions to grow new markets Launch BrainChip �evelopment �it (BDK) to empower large numbers of laboratories to appl� and license SNAP technolog� Build a broad portfolio of �lo�al patents Potentiall� spin out application�speci�ic �Vs and�or subsidiar� companies if partnering with ma�or corporations Become the �e �acto stan�ar� for autonomous learnin� 10
Business Model ASX: BRN Product Development Re�uests NR� (�) Ro�alties (�) Semiconductor Partners License Licensing (�) Chips �nd �sers Products ��M Customers Three Revenue sources: 1� Licensin� Revenue – SNAP licensed to ��M customers and semiconductor companies. 2� NRE Revenue – Semiconductor compan� designs and manufactures a specific chip utilizing SNAP with other technologies. The chip is incorporated into a product and sold. BrainChip technical team will generate service income in customizing SNAP to the client application �� Royalty Revenue – Ro�alt� for ever� chip sold� based on percentage of chip price. 11
Product Offerings ASX: BRN SNAP 64 Verification � SNAP IP Production Masks CHIP B�K BrainChip �valuation Kit FPGA ��M Custom Custom IP Tools Chip API BAB BrainChip Accelerator Board NR� Design Customer Services Product BDK BrainChip Development Kit BrainChip Client SNAP Tools Pro�uct Pro�uct Chip 12
SNAP BDK – Marketing Tool ASX: BRN �ARL� LIC�NS��S Licensees through technolog� partners Licensees through Development Kit work 13
Multiple Channels to Market ASX: BRN • Cell phones • M�MS OE� Customers • Securit� • Robotics • �ar��are � Work with semiconductor so�t�are mo�ule partners to complete the solution provi�ers solutions • License SNAP and manufacture Semicon�uctor s�stem on chip products for Partners ��Ms • Direct Sales to identified BrainChip SNAP customers • Sales �o�el �oint marketing • IP sales� distributor partners 14
Marketing Strategy ‐ Partners ASX: BRN 15
Marketing Strategy ‐ Direct ASX: BRN 16
Competitive Landscape ASX: BRN ��ecution time Rapi� Learnin� Degree of �ses third Low power Chip designed for independent of capa�ilities on Companies parallelism generation neural consumption neural networks neural network (speed) networks (spiking) chip size BrainChip �SNAP � �ar��are � IBM (TrueNorth) Chip �ualcomm (Zeroth) Cognimem DeepMind (Google) Facebook �eep Learnin� Vicarious General Vision Tera Deep Brain Corporation Ro�otics Neurala each �uadrant represents 25� Simplified Neuron CAPABILIT� model This table contains commerciall� available products and announced products. It does not list a range of analog VLSI devices that are developed b� Stanford� �CSD� Salk Institute and others because these are research devices. Analog VLSI are difficult to mass‐produce. 17
IP Protection ASX: BRN Protecting and developing intellectual Lea�in� Companies Citin� propert� is a central part of BrainChip�s Cites BrainChip� business strateg� �ualcomm 13 BrainChip is the first compan� to file a IBM 9 digital neuromorphic chip patent (2008) Samsung �lectronics 1 Citations of BrainChip�s patents are �thers 2 accelerating – a leading indicator for a �Partial list. �.S. patents and cites are as of growing market December 31� 2015. 1 patent �rante� – Autonomous Learning D�namic Artificial Neural Computing Device and Brain Inspired S�stem: 8�250�011 cited multiple times � patents currently pen�in� an� many more planne� 18
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