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PRECISION LIGHT. STRATEGIC MARKETS. CONVERTING PROJECTS INTO VALUE. BUILDING THE VISIBLE GAN PLATFORM FOR CRITICAL NEXT- GENERATION APPLICATIONS FY2026 ANNUAL GENERAL MEETING 23 October 2026, Sydney BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING Important notice and disclaimer Important information for shareholders This presentation has been prepared by BluGlass Limited to provide shareholders with an update on the Company, its technology, operations and strategy. It may contain forward-looking statements based on current expectations, assumptions and information available to management. Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of BluGlass. Words such as “expect”, “anticipate”, “intend”, “plan”, “target”, “believe”, “estimate”, “may”, “will”, “could” and similar expressions identify them. These statements are based on current expectations, assumptions and information available to management, which may prove incorrect. They involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. These include technical, commercial, regulatory, funding and execution risks affecting development programs, qualification activities, follow-on contracts and product orders. Actual results may differ materially, and readers should not place undue reliance on forward-looking statements. Nothing in this presentation constitutes financial product advice or a recommendation to acquire or dispose of securities. Market, pipeline and addressable-market information is drawn from third-party sources and should be interpreted cautiously. Development programs, qualification activities, follow-on contracts, product orders and capital-markets initiatives remain subject to technical, commercial, regulatory, funding and execution risks.Pipeline and opportunity information is not contracted revenue and is not a forecast. There is no assurance that any opportunity will result in a contract, order or revenue. The final presentation should be read together with BluGlass’s ASX announcements, FY26 Annual Report, Q1 FY27 Quarterly Report and Notice of Meeting. To the maximum extent permitted by law, BluGlass and its directors, officers, employees and advisers make no representation or warranty about the accuracy or completeness of this presentation and accept no liability for any loss arising from its use. 2
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Executive -Chair Omer Granit Executive -Chai r Omer Granit
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING Today’s discussion A candid review of validation, value realization and the path forward 01 Market conditions, BluGlass positioning, strategy, operations, and execution02 03 Formal business Considerations, Remuneration, Resolutions, Voting 4 Operations and Financial Snapshot Q&A Chair address Welcome and introductions 04
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING A stronger platform for the next phase of growth Refreshed leadership Board experience spanning capital markets, governance, commercialization, defence procurement and advanced manufacturing. Omer Granit Executive Chair Jim Haden CEO – Managing Director Lucy Vujcic Non-Executive Director Ata Gokyildirim Non-Executive Director Yam Rubenstein Non-Executive Director Strengthened capital position Approximately A$14.6M raised during FY26 through the placement, option exercises and shortfall agreement. A$8M Rockford non-dilutive debt to support OpEx, CapEx, and project execution Expanded strategic access Greater engagement in the United States across government, defence, energy and strategic funding channels. Initiated broader US investor engagement We strengthened the Company’s ability to convert technology into funded programs, programs into products, and commercial progress into shareholder value 11
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Executive -Chair Omer Granit CEO & Managing Director Report Market Conditions, Strategy, Execution Jim Haden
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Healthcare & Life Sciences • Medical imaging & diagnostics • Laser surgery & therapy 2030 TAM ~$13B Clean Energy • Solar cell production • Battery manufacturing • Fusion energy research 2030 TAM ~$8B Lasers are everywhere (2030 TAM $150B) Global megatrends underpinned by laser technology Quantum • Quantum sensing & computing • Quantum simulation • Cryptography 2030 TAM ~$4.5B Advanced manufacturing & Industry 4.0 • Laser based additive manufacturing • Precision micromachining • Semiconductor fabrications 2030 TAM ~$50B Defense & Security • Directed energy weapons • LIDAR for surveillance 2030 TAM ~$25B Space • Laser communication • Planetary mapping 2030 TAM ~$9B Autonomous Systems & Smart Mobility • LIDAR in autonomous vehicles • Traffic & infrastructure monitoring 2030 TAM ~$4.5B Digital Transformation & Connectivity • Fiber optic communications • Data centers & AI infrastructure 2030 TAM ~$35B Sources: See appendix 1
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING Why lasers? Why now? Why GaN? Why BluGlass? A concise framework for the opportunity WHY LASERS? Critical enablers of defence, quantum, sensing, communications, biotech and advanced manufacturing. WHY NOW? Defence modernization, quantum investment and sovereign supply-chain priorities are accelerating demand. WHY GaN? High-energy visible photons (units of light) interact with the world differently than invisible low- energy photons. Expands applications beyond infrared lasers WHY BLUGLASS? A vertically integrated high- fidelity GaN Laser platform combining technology, allied manufacturing and customer-funded development. Strategic precision light for applications where wavelength, power, beam quality and integration determine performance. 8
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Strong global tailwinds in defense & commercial laser market LASER SECTOR OUTPERFORMS MARKET (JAN ‘25 – OCT ‘26) Source: MSN Money comparison January ‘25- October ‘26 Accelerated adoption of advanced laser systems Recent global conflicts and critical defense programs have demonstrated advanced laser technologies are mission-critical enablers, underpinning tactical capabilities across air, land, sea, and space domains. Government priorities and strategic funding are accelerating project opportunities U.S. and allied government priorities are accelerating the adoption of sovereign, domestically manufactured laser technologies to support defense systems and quantum infrastructure, creating long-term demand for high-performance laser platforms in defense and dual-use markets. v BLUGLASS (ASX:BLG) | SEMICONDUCTOR AUSTRALIA 2026
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Expand partnerships within the U.S. Government Technology leadership & Strategic partnerships Organic and Inorganic Growth and Integration Four pillar strategy to accelerate growth & value capture 1 2 3 4 Grow GaN laser market share Grow market share, deepen government relationships, extend technology leadership and capture more of the value chain BLUGLASS (ASX:BLG) | SEMICONDUCTOR AUSTRALIA 2026
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Executive -Chair Omer Granit CFO Financial Report Samuel Samhan
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING BluGlass 2026 at a glance Validation from governments, industry leaders and strategic partners CLAWS Year 1- 3 U.S. government program completed Year 3 milestones Tier-1 defense Development program Fortune 500 Strategic photonics collaboration TOPTICA Custom GaN lasers for advanced PICs Uviquity Phase II ~A$1.4M Photonic Leader Early-stage feasibility collaboration Single Mode 1.9 W Peak single-spatial-mode performance A$14.6M FY26 capital raised The next proof points are milestone delivery, follow-on awards, qualification progress, repeat orders, product revenue and customer cash receipts 12 ~A$6.5M ~A$1.25M ~A$1.3M ~A$192K ~A$290K
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING FY26 financial overview A stronger balance sheet and growing product contribution, with execution still required STRENGTHENED POSITION FOCUS AREAS A$11.34M Cash at 30 June 2026 A$14.41M Net assets A$498K Laser product revenue | +36% A$20.87M Gross expenditure | 8% favorable A$2.55M Laser project revenue | -25% (Gov shutdown) A$4.23M Customer receipts | -9% (Reducing legacy Foundry) A$8.30M Operating cash outflow A$10.39M Consolidated loss BluGlass entered FY27 with stronger liquidity and growing product contribution. Converting funded programs into milestones, cash receipts and new orders remains the central financial priority 14
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- 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q4/26 Q1/27 Product Revenue Project Revenue Traction: Projects create direct paths to products Commentary • In 1H FY26, U.S. government funding delays and continuing-resolution constraints delayed contract awards and associated revenue • Customer-funded programs awarded during 2H FY26 contributed to stronger Q4 project revenue following earlier funding and contract delays • Revenue remains subject to quarterly variability given the milestone-driven nature of customer programs, while the underlying mi x continues to shift towards proprietary products and higher-value development programs REVENUE GROWTH (exc. R&DTI) - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 FY22 FY23 FY24 FY25 FY26 REVENUE GROWTH (exc. R&DTI) Laser Diode Product Laser Diode Project US Gov Shutdowns – continuing- resolution constraints Revenue mix is shifting toward proprietary products and higher-value customer-funded development programs BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING AUD$
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Operations, Execution, & Outlook 16 BLUGLASS (ASX:BLG) | SEMICONDUCTOR AUSTRALIA 2026
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING BluGlass: One of the few end-to-end visible GaN laser platforms Australian innovation. U.S. manufacturing and market access Epitaxy & materials GaN growth, materials engineering and proprietary know-how Device design & fabrication Fabry-Pérot, DFB, gain chips and MOPA architectures Packaging & integration Test, packaging, optical integration and customer- specific development Three specialized facilities Sydney, Silicon Valley and New Hampshire 17
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Pure -play manufacturer A Differentiated Platform with High Barriers to Entry BluGlass is one of a limited number of companies with end -to -end visible GaN laser capability ▪ World -leading GaN laser performance ▪ Precision, power and stability ▪ Amplification and chip -scale integration ▪ Manufacturing flexibility, agility and scalability ▪ Customisation capability ▪ Proprietary technology and growing IP portfolio ▪ Active customer -funded programs and collaborations across U.S. government, defense and aerospace, data storage, quantum photonics, med -tech and advanced photonics Extremely high barriers to entry Customisation World -leading performance Proprietary IP 17 BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING Our Goal Is to Grow Product Revenue through Successful Project Conversion Customer-funded development creates a pathway, not a guarantee 1 Evaluation Customer discovery, proposals, device evaluation and feasibility work 2 Funded development Defined technical need, deliverables and milestones 3 Qualification Prototype deliveries, customer testing, reliability and system integration 4 Product orders Initial and repeat purchases 5 Potential Agreements Potential recurring orders or longer- term supply agreements Not every program reaches production. Qualification timing and demand vary by customer and application. 19
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Priority Markets: A$4.6B* system-level market by 2030 Quantum $1.2B$1B Industrial & microelectronic s $800M Defense & Aerospace $800M $800M Consumer GaN Spectrum Range405 nm 525 nm IR Range >700 nm UV Range <405 nm Targeting applications where visible GaN offers differentiated wavelength, precision, form factor or scalability Applying a common GaN laser platform across selected visible GaN-enabled high-growth markets Biotech & Biomed Sources: See appendix 1
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING One visible GaN platform. Multiple strategic missions. Growth leverage comes from configurable source, amplifier, packaging and integration capabilities Defence & aerospace Sensing, atmospheric detection, optical countermeasures and future power scaling Quantum & navigation Precision wavelengths for atomic and material transitions Subsea & communications Blue-green sources for sensing, links, docking and navigation Biotech & medical Fluorescence, diagnostics and far-UVC development 21
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BluGlass 2026 AGM October 2026 21 AUKUS VALUE: BLUGLASS (ASX:BLG) | SEMICONDUCTOR AUSTRALIA 2026 BluGlass Contribution
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BLUGLASS INC | ORNL NSSD DISCUSSION | SUBSEA AND SEABED SYSTEMS PROPRIETARY AND CONFIDENTIAL SUBSEA AND SEABED SENSING, NAVIGATION AND COMMUNICATIONS VISIBLE GAN SOURCES FOR UNDERWATER LIDAR, AUTONOMOUS UNDERWATER VEHICLES (AUVS), MARITIME INTELLIGENCE, SURVEILLANCE, RECONNAISSANCE (ISR) AND OPTICAL LINKS Mine and Hazard Detection UW LiDAR & Optical Communications Seabed Sensing and Mapping AUV Docking and Guidance Distributed Seabed Sensing Network UW Navigation in GPS Denied Env. BLUGLASS (ASX:BLG) | SEMICONDUCTOR AUSTRALIA 2026 BluGlass’s value is a configurable source platform spanning Fabry-Pérot lasers, DFB lasers, amplifiers, MOPA architectures and ruggedized packaging.
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Visible GaN Lasers for Space COMMUNICATE Optical Links for space-to- space and ground connectivity SENSE LiDAR and imaging for ISR, and situational awareness NAVIGATE Precision ranging for resilient operations INTEGRATE Shared aperture and resources reduce SWaP and increase mission flexibility ONE COMPACT LASER PLATFORM ENABLES COMMUNICATIONS, SENSING, NAVIGATION, AND MULTIFUNCTION PAYLOADS AUKUS VALUE: BLUGLASS (ASX:BLG) | SEMICONDUCTOR AUSTRALIA 2026 Space qualification, radiation testing, and payload-level validation required
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BLUGLASS (ASX:BLG) | SEMICONDUCTOR AUSTRALIA 2026 11 BLUGLASS’ ENABLING CONTRIBUTION: LASER SOURCES AND INTEGRATION TECHNOLOGIES
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING Commercial validation across strategic customers Engagements are advancing from evaluation into funded development and then prototype testing Program / customer group Customer need BluGlass Contribution Current proof point U.S. government / CLAWS High-fidelity visible sources Laser and integrated- photonics development Successful completion of Year 3 milestones Tier-1 defence & aerospace Custom precision source DFB lasers, gain chips, packaging ~A$1.25 funded development Fortune 500 technology Future photonics platform Visible GaN development capability ~A$1.3M collaboration TOPTICA / quantum PICs Advanced integrated photonics GaN lasers & semiconductor optical amplifiers A$190K order Uviquity Far-UVC laser-light engine Development, processing, packaging, products Phase II commitment of ~ A$1.4M Global Photonics Leader Novel GaN device feasibility Epitaxy, device processing and process-compatibility assessment Initial study Paid development is evidence of interest and progress. It is a precursor to but not the same as recurring production revenue. 25
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING Customer journey case study: Tier-1 defense and aerospace A representative pathway from prototype evaluation toward potential deployment Defined need Specialized high-fidelity visible source for a novel dual-use aerospace application Initial proof Customer evaluated BluGlass gain chips and completed prototype testing Funded development A$1.25 million program for custom DFB lasers, gain chips and packaging under a multi- phase program Next gates Deliver current milestones. Complete customer benchtop validation. Higher-value follow-on aircraft validation contracts. Potential outcome Successful development can lead to deployment in commercial and military aircraft over a 10-to-30-year span Production is an objective, not a committed outcome but reflects a previously proven pathway to value creation 27
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING Consecutive years of improving single-spatial-mode laser performance Increasing power while preserving beam quality expands the applications BluGlass can address Earlier platform Foundation Device and process improvements supported by Microelectronics Commons and Australian R&D 1.25 W 2025 67% increase from 0.75 W 1.9 W FY26 52% increase from 1.25 W Next FY27 Reliability, yield, wavelength expansion and product qualification Performance leadership remains the foundation. Customer qualification, reliability and manufacturability turn performance into products. 28 250 – 750 mW* *single spatial mode not well validated in early development
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BLUGLASS (ASX:BLG) | 2026 ANNUAL GENERAL MEETING Our next phase: execution that builds shareholder value Converting technical and commercial progress into repeat product revenue CLAWS Year 3 Tier-1 defense Fortune 500 TOPTICA Uviquity Tier 1 Global Photonic Leader World-record performance These wins provide a foundation for the next phase of growth 28
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Catalysts and what to expect in FY2027 Recent 2026 Key Achievements Won ~A$6.5M DoW sub-contracts across Years 1 ̶ 3 with the Microelectronics Commons Delivered all milestones under Years 1 ̶ 3 to date of the CLAWS Hub Core program Partnering with industry leaders (Fortune 500 and Tier-1 Defense ~A$1.3m ea.) to accelerate platform development and deliver unmatched precision at scale Entered Phase 2 Contract ~A1.5M Advancing a far-UVC laser-light engine for medical- technology applications with Uviquity Advanced single-spatial-mode GaN laser performance from 1.25 W in 2025 to 1.9 W in FY26 Expected Milestones & Catalysts Execute awarded programs, delivering milestones and meeting customer expectations Win follow-on work advancing relationships into larger phases Convert qualified pipeline opportunities into funded programs with credible product pathways Launch advanced capabilities expanding wavelengths, fidelity, packaging, and integration Broaden strategic access deepening U.S. government, industry, and investor engagement Convert funded development into follow-on programs, launch advanced products, and broaden strategic partnerships BLUGLASS (ASX:BLG) | SEMICONDUCTOR AUSTRALIA 2026
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THANK YOU SHAREHOLDER QUESTIONS 2026 ACHIEVING VALIDATION AND TRACTION MULTIPLE CUSTOMER PROGRAMS ADVANCED ALONG THE PROJECT-TO-PRODUCT PATHWAY 2027 CONTINUED EXECUTION AND CONVERSION DELIVERING MILESTONES, WINNING FOLLOW-ON WORK AND GROWING REVENUE
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Formal Business 5 • CONSIDERATION OF THE FY26 ANNUAL REPORT • REMUNERATION REPORT • ELECTION AND RE-ELECTION OF DIRECTORS • EQUITY AND OTHER RESOLUTIONS • VOTING AND PROCEDURAL MATTERS BLUGLASS (ASX:BLG) | SEMICONDUCTOR AUSTRALIA 2026
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Appendix 1: Sources • GrandView Research Laser Processing Report 2024; • Mordor Intelligence Optical Networking & Comms Report 2025; • Mordor Intelligence Military Laser Systems 2025; • Mordor Intelligence Medical Laser Market 2025; • Future Market Insights Sat Laser Comm 2025; • Verified Market Reports Solar PV Laser Scribing 2022; • Mordor Intelligence Quantum Photonics 2025; • Grand View Research Total LIDAR 2024; • secondary industry research reports; and • internal company modelling