IONQ Analyst Day 2025 Presentation

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Copyright © 2025 IonQ, Inc. All Rights Reserved. This presentation contains certain forward -looking statements within the meaning of Section 27A of the Securities Act of 1933, a s amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward -looking terms. Statements that are not historical in n ature, including the terms “accelerating,” “access,” “accessible,” “anticipate,” “available,” “believe,” “can,” “capable,” “deliver,” “designed to,” “deployable,” “enabling,” “estimate,” “expect,” “expected,” “future,” “goal,” “growth,” “increased scale,” “intend,” “impact,” “latest,” “leader,” “leading,” “may,” “pending,” “planned,” “scale,” “target,” “will,” “winning,” “potential,” and other similar expressions are intended to identify forward -looking statements. These statements include those related to the company’s expansion in the quantum computing, security, and networking market segments; the company’s technology driving commercial advantage or deliver ing scalable, fault-tolerant quantum computing in the future; the ability for third parties to implement IonQ’s offerings in their data centers and to reduce their compute costs; the energy efficiency and sustainabili ty of the IonQ’s offerings; the efficacy of new applications of quantum computing; the relevance and utility of quantum algorithms and applications run on IonQ’s quantum computers; the size of quantum computing, security, and networking market segments in the future; IonQ’s quantum computing, security, and networking capabilities and plans; future deliveries of and access to IonQ’s quantum services, computers, and networking devi ces; access to IonQ’s quantum computers including hybrid -enabled functionality; increases in algorithmic qubit achievement; future purchases of IonQ’s offerings by customers using congressionally -appropriated funds from the U.S. government; IonQ closing anticipated acquisitions; the success of partnerships and collaborations between IonQ and other parties, including development and commercialization of products and s ervices with such parties; and the scalability, reliability, performance, modularity, commercial-readiness, and architectural advantages of IonQ’s offerings. Forward -looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including but not limited to: changes in the competitive industries in which IonQ operates, including development of competing technologies; any inadequaci es in the overall pace of technology development in the quantum industry, including inadequate advances in the state of quantum networking and quantum systems; IonQ’s relatively limited history in developing q uantum networks; the capability of our quantum systems and quantum networks to provide transformative applications and commercial quantum advantage; changes in laws and regulations affecting IonQ’s business; IonQ ’s ability to enter new markets and exploit new technologies; IonQ’s ability to implement its business plans, forecasts and other expectations, identify and realize partnerships and opportunities, and to engage new and existing customers; changes in U.S. government spending or policy that may affect IonQ’s customers; changes to U.S. government goals and metrics of success with regard to implementation of quantum computing; risks associated with U.S. government sales, including availability of funding and provisions that allow the government to unilaterally terminate or modify contracts for convenience; satisfaction of conditions to close acquisitions by IonQ and counterparties; IonQ’s inability to effectively integrate its acquisitions; IonQ’s ability to attract and retain key personnel, including Lightsynq personnel joining IonQ; IonQ's ability to utilize the technology of acquired companies to accelerate the development and scale of IonQ’s systems and offerings; and IonQ’s ability to work effectively with collaborators in existing or planned partnerships, including the effec tiveness of integration of IonQ’s technology with collaborators’ technology. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the Company’s filings, including but not li mited to those described in the “Risk Factors” section of IonQ's filings with the U.S. Securities and Exchange Commission, including but not limited to the Company's most recent Annual Report on Form 10 -K and reports on Form 10-Q. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward -looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forwa rd-looking statements, whether as a result of new information, future events, or otherwise. IonQ does not give any assurance that it will achieve its expectations. IonQ may or may not choose to practice or otherwise use the inventions described in the issued patents in the future. Cautionary Notes IonQ 2025 Analyst Day2

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Today’s Agenda 3 IonQ 2025 Analyst Day 01 Welcome: IonQ Quantum Leadership 02 Quantum Computing Roadmap 03 Lowering Cost-Per-Qubit 04 Creating an Ecosystem: Photonic Interconnect 05 Quantum Networking Ecosystem & Quantum Networking Demonstration Question & Answer Session 06 Enterprise-Grade Applications & Ecosystem 07 Customer & Partner Momentum 08 Financial Updates 09 Fireside Chat: Why I Joined IonQ 10 Concluding Comments 12:30pm Lunch & Tour of the NYSE Floor

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Historic First-Mover Advantages Cemented Decade of Leadership 6 Hardware & Software Leadership Commercial Leadership IonQ System Powered On Yb trapped ion system (Room Temp, 15 ions) Applications Leadership APR 2017 IonQ Compiler Software Built World’s premier compiler based on published results OCT 2018 Deployed on AWS Braket Commercially available QC on AWS’s Cloud AUG 2020 OCT 2020 APR 2021 MAR 2025 APR 2025 JUN 2025 Deployed on Microsoft Azure Commercially available on Microsoft’s Cloud Deployed on Google Cloud Only commercially available QC on all 3 major public clouds Milestone Materials App 12% speedup on engineering simulation Milestone Quantum AI App 3% edge with LLM quantum fine- tuning model Milestone Pharma App >20x faster time- to-solution with hybrid workflow

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Unprecedented Momentum Positions IonQ to Lead the Next Decade Revenue growth nearly doubling YoY since IPO $100M+ AFRL deals pioneering enterprise-grade quantum networking Historic strategic acquisitions fueling 1,000+ patent portfolio moat1 Orders-of-magnitude hardware error reduction 36 Quadrillion times larger computational space than IBM 7 1. Includes owned or controlled patents granted and pending as of May 2025, including those from IDQ (in which IonQ owns a majority stake), and Oxford Ionics (which IonQ intends to acquire pending closure pursuant to terms aligned in June 2025) Largest $1.075B quantum deal to acquire Oxford Ionics

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Cost per System (2 million physical qubits) The Best Solution Across Every Unit Economic Vector Power Footprint Superconducting <$30M BOM Cost >$1B BOM Cost Business Impact Others have no public plans to reach 2M physical qubits. Their estimated BOM costs are >30X more expensive vs. IonQ’s Standard Datacenter Racks Football Field Wall Socket Minimal Cooling Dilution Refrigerators / Cryostats Nuclear Reactors Other systems require massive, specialized infrastructure driving up energy costs and limiting deployment Other systems demand room-sized or football field–scale facilities, blocking datacenter integration and slowing adoption 9 Source: IonQ BOM cost estimates by Kearney; Superconducting data taken from publicly available information using reasonable extrapolation assumptions

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 10 36 Quadrillion Times Larger Computational Space 64 1 Circuit Width Number of 2Q Gates IonQ (Tempo Prototype) IBM Kingston Heron r2 IBM Pittsburgh Heron r3 IonQ #AQ 64 prototype system has a computational space 36 quadrillion times larger than IBM’s current highest performing quantum system Algorithm Qubit Comparisons Source: IonQ preliminary internal data; 3rd party independent research

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 12 Integrating the World’s Best Talent & Technology Dr. Chris Ballance CEO, Oxford Ionics Oxford Ionics Dr. Mihir Bhaskar Head of Distributed Computing, IonQ (formerly CEO, Lightsynq Technologies) Harvard University | AWS Center for Quantum Networking Dr. Chris Monroe Chief Scientific Advisor & Co-Founder Duke University | NIST University of Maryland Rick Muller VP, Quantum Systems IARPA | Sandia National Labs Marco Pistoia SVP, Industry Relations JP Morgan Chase | IBM Robert Cardillo Executive Chairman of IonQ Federal National Geospatial-Intelligence Agency (NGA) First Demonstration of quantum logic gate & multi-qubit entanglement World Records: 99.999% 1Q Fidelity 99.97% 2Q Fidelity World Records: First Demonstration of memory-enhanced quantum communication World Records: Quantum World Record Holders Domain Leadership

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Leading Quantum Computing Technology Roadmap $697M Cash Balance 2 Capitalized to Execute & Deliver Identified Quantum- Enhanced Applications Logical Error Rates 13 <1.00E-7 <1.00E-12 CY28 20,000 CY27 10,000 CY26 100-256+ 12 800 1,600 80,000 8,000 CY29 200,000 CY30 2,000,000 CY25 64-100+ Logical Qubits Physical Qubits 100 100,000 1,000,000 10,000 1,000 100 100,000 10,000 1,000

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. - $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 14 Datacenter Scalability Matters Source: Capital IQ APR 2020 NVIDIA Closes Acquisition of Mellanox NVIDIA Share Price (in US$) NOV 2022 OpenAI Launches ChatGPT Building the Hardware and Software Stack to Support Quantum Cloud Growth at Scale

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. PHARMA SIMULATION AUTOMOTIVE QUANTUM NETWORKING QUANTUM NETWORKING Drug Discovery Computer Aided Engineering QML and Chemistry Military-Grade Networking QC Economy Networking Hub We Are Delivering Early Quantum Advantage Today IonQ 2025 Analyst Day15 Copyright © 2025 IonQ, Inc. All Rights Reserved. 20X Faster time-to-solution than best previously published implementation by AWS Up to12% Improvement over classical heuristics | 2.6M vertices & 40M edges by AWS Landing and Expanding Relationship & Capabilities $54.5M Project for commercial quantum networking over next 4 years IonQ Forte Enterprise Nation’s first networking hub

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Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day16 Exponential Edge in Logical Qubits and Fault Tolerance Race Narrow Commercial Advantage 800 600 400 200 Logical Qubits 2026 2027 2028 2029 2030 IonQ IBM Quantinuum Broad Commercial Advantage Note: Figures derived from publicly available roadmaps from IBM and Quantinuum, with reasonable approximations used where data was unavailable.

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Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day17 Exponential Edge in Logical Qubits and Fault Tolerance Race 1600 1400 Logical Qubits 2026 2027 2028 2029 2030 1200 1000 800 600 400 200 Narrow Commercial Advantage IonQ IBM Quantinuum Broad Commercial Advantage Note: Figures derived from publicly available roadmaps from IBM and Quantinuum, with reasonable approximations used where data was unavailable.

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Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day18 Exponential Edge in Logical Qubits and Fault Tolerance Race 1600 Logical Qubits 2026 2027 2028 2029 2030 1400 1200 1000 800 600 400 200 8000 6000 4000 Narrow Commercial Advantage IonQ IBM Quantinuum Broad Commercial Advantage Note: Figures derived from publicly available roadmaps from IBM and Quantinuum, with reasonable approximations used where data was unavailable.

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Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day19 Exponential Edge in Logical Qubits and Fault Tolerance Race 2026 2027 2028 2029 2030 80000 60000 40000 20000 Logical Qubits IonQ IBM Quantinuum 8000 140012001000800600400200 40006000 1600 Narrow Commercial Advantage Broad Commercial Advantage Note: Figures derived from publicly available roadmaps from IBM and Quantinuum, with reasonable approximations used where data was unavailable.

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Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day20 Exponential Edge in Logical Qubits and Fault Tolerance Race 2026 2027 2028 2029 2030 40000 20000 8000 140012001000800600400200 40006000 1600 Narrow Commercial Advantage Broad Commercial Advantage IonQ IBM Quantinuum Logical Qubits 80000 60000 IonQ Exclusive Advantage Note: Figures derived from publicly available roadmaps from IBM and Quantinuum, with reasonable approximations used where data was unavailable.

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Narrow Commercial Advantage Broad Commercial Advantage IonQ 2025 Analyst Day21 Chemical Reaction Modeling Structural Analysis in CAE Synthetic Data Generation Chemical Reaction Modeling Structural Analysis in CAE Synthetic Data Generation Protein Folding For Drug Discovery Unit Commitment In Electric LLM Fine-Tuning Chemical Reaction Modeling Structural Analysis in CAE Synthetic Data Generation Protein Folding For Drug Discovery Unit Commitment In Electric LLM Fine-Tuning Image Change Detection Laminar Fluid Dynamics Vehicle Routing Chemical Reaction Modeling Structural Analysis in CAE Synthetic Data Generation Protein Folding For Drug Discovery Unit Commitment In Electric LLM Fine-Tuning Image Change Detection Laminar Fluid Dynamics Vehicle Routing Drug-Target Affinity Prediction With Solvent Model Fantasy Sports Team Picking AI Agent Assignment Chemical Reaction Modeling Structural Analysis in CAE Synthetic Data Generation Protein Folding For Drug Discovery Unit Commitment In Electric LLM Fine-Tuning Image Change Detection Laminar Fluid Dynamics Vehicle Routing Drug-Target Affinity Prediction With Solvent Model Fantasy Sports Team Picking AI Agent Assignment Medical Imaging Analysis Institutional Portfolio Rebalancing Pharma Catalysts Redesign Battery Materials Discovery Chemical Reaction Modeling Structural Analysis in CAE Synthetic Data Generation Protein Folding For Drug Discovery Unit Commitment In Electric LLM Fine-Tuning Image Change Detection Laminar Fluid Dynamics Vehicle Routing Drug-Target Affinity Prediction With Solvent Model Fantasy Sports Team Picking AI Agent Assignment Medical Imaging Analysis Institutional Portfolio Rebalancing Pharma Catalysts Redesign Battery Materials Discovery Polymorph Screening for Drug Discovery Carbon Capture Catalyst Materials Discovery For Advanced Medical Equipment Optimization Of AI Agent Action Planning Training Robotic AI Models Quantum Federated Learning 2024 2025 2026 2027 2028 2029 2030 Apps Market Opportunity Chemical Reaction Modeling Structural Analysis in CAE Synthetic Data Generation Protein Folding For Drug Discovery Unit Commitment In Electric LLM Fine-Tuning Image Change Detection Laminar Fluid Dynamics Vehicle Routing Drug-Target Affinity Prediction With Solvent Model Fantasy Sports Team Picking AI Agent Assignment Medical Imaging Analysis Institutional Portfolio Rebalancing Pharma Catalysts Redesign Battery Materials Discovery Polymorph Screening for Drug Discovery Carbon Capture Catalyst Materials Discovery For Advanced Medical Equipment Optimization Of AI Agent Action Planning Training Robotic AI Models Quantum Federated Learning Exponential Edge: Logical Qubits Unlock Vast Application Space

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 23 Networking to Create the Global Quantum Internet Poised to Lead Globally in Quantum Entanglement Distribution Delivering the Comprehensive Suite of Quantum Safe Communications Optimal Architecture for Distributed Quantum Computing

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 10K - 2M+ Qubit Systems 2027 - 2030+ Selling Planned Aria 2021 Harmony 2019 Forte 2023 Forte Enterprise 2024 256 Qubit System 2026 Tempo 2025 Industry Leading Commercial Product Portfolio

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Copyright © 2025 IonQ, Inc. All Rights Reserved. On-Prem or Cloud Access IonQ Full Stack Quantum Innovation 26 IonQ Applications Development IonQ Quantum Hardware Forte Enterprise Tempo Future Systems Forte Aria IonQ Quantum Software IonQ Hybrid Services SDKs, APIs, Compilers, Cross-Platform Libraries IonQ Quantum OS IonQ Quantum Networking IonQ 2025 Analyst Day Commercial Applications End-to-end Quantum Networks Quantum Internet Distributed Quantum Computing Quantum Key Distribution (QKD)

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Qubit count, performance, and architecture all combine to give usable performance #AQ is defined as useable qubits in a quantum computer Defining #AQ based on QED-C benchmarking Gate Depth Circuit Width #AQ Successful results Optimization Problems involving complex routing, sequencing and more Quantum Simulation Understand the nature of the very small Quantum Machine Learning Problems involving complex routing, sequencing and more ✔ Amplitude Estimation ✔ Monte Carlo Simulation ✔ Hamiltonian ✔ Variational Quantum Eigensolver ✔ Quantum Fourier Transform ✔ Phase Estimation 27 Note: Graph is illustrative and not representative of actual results Copyright © 2025 IonQ, Inc. All Rights Reserved. Algorithmic Qubits Explained Historic application-driven measure of customer value

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 28 36 Quadrillion Times Larger Computational Space Algorithm Qubits Comparisons 64 1 Circuit Width Number of 2Q Gates IonQ (Tempo Prototype) IonQ #AQ 64 prototype system has a computational space 36 quadrillion times larger than IBM’s current highest performing quantum system Algorithm Qubit Comparisons Source: IonQ preliminary internal data; 3rd party independent research IBM Kingston Heron r2 IBM Pittsburgh Heron r3

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 29 Evolving and Expanding Quantum Benchmarking Methodology Application BenchmarksPhysical Benchmarks • Number of Physical Qubits • 2 Qubit Gate Fidelity • Number of Logical Qubits • Gate Depth • Connectivity Focusing on the metrics with real-world impact Accuracy of Solution Time to Solution Cost to Solution Energy to Solution

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Delivering the World’s Most Powerful Quantum Computers 30 5+ Years Ahead 36 Quadrillion Times Larger Computational Space Strongest Unit Economics Physical Qubits Logical Qubits Error Rate 2025 64-100+ 2026 100-256+ <1.00E-7 2027 10,000 800 <1.00E-7 2028 20,000 1,600 <1.00E-7 2029 200,000 8,000 <1.00E-12 2030 2,000,000 80,000 <1.00E-12

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Two Key Ingredients to Scale Quantum Computers 32 Google Quera Quantinuum Rigetti IBM 500 qubits 100 qubits 50 qubits 20 qubits 10 qubits 5 qubits 1 qubit SIZE Number of Qubits Average two-qubit gate error rate 0.01%1%FidelityError 0.1% PERFORMANCE Effective Error Rate 1. Based on IonQ 2025 roadmap Source: Public disclosures Size and performance are needed to unlock value 1

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Better Qubit Performance Unlocks Value Sooner 33 Quantum error correction is not a free lunch Computational Power Number of Qubits Better qubit performance leads to much larger computational power 20x

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Better Qubit Performance Unlocks Value Sooner 34 800 Logical qubits 41 Logical qubits Other Approaches2 10,000 Physical qubits (IonQ 2027 roadmap target) 1. For logical error rate 10-7, see e.g., https://arxiv.org/abs/2308.07915, https://arxiv.org/abs/2503.22071 with 99.99% fidelity physical qubits 2. For logical error rate 10-7, based on distance-11 surface code with 99.9% fidelity physical qubits 1 We can achieve 20x more than competitors with the same resources

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day36 Achieving Record Breaking 99.99% Two Qubit Gate Fidelity1 Copyright © 2025 IonQ, Inc. All Rights Reserved. 1. Oxford Ionics findings from a forthcoming study; details will be made available upon publication

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Electronic Qubit Control: The Winning Secret Sauce 37 Fastest Time to Solution World’s Highest Fidelity Most Scalable Mass Manufacturable Copyright © 2025 IonQ, Inc. All Rights Reserved. Using Silicon & Existing Semiconductor Supply Chain

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Scaling Quantum the Semiconductor Way 38 2-qubit unit cell 256-qubit quantum computer 10,000-qubit quantum computer Simple, scalable and mass manufacturable

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Best-in-Class Economics 39 Source: IonQ data estimated by Kearney; Superconducting data taken from publicly available information using reasonable extrapolation assumptions Note: x-axis represented on a log scale 2 million10,000 20,000256 200,000100,0001,000100 Estimated BOM Cost (US$ millions) Number of Qubits $40 $80 $120 $160 $1,000+ Superconducting: >$1.0B Estimated BOM >30X Larger BOM Cost Lowers cost per logical qubit

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Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day Creating An Ecosystem: Photonic Interconnect 40 04 Dr. Chris Monroe Chief Scientific Advisor & Co-Founder Dr. Mihir Bhaskar Sr. Director, Quantum Interconnects

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Quantum Compute Follows the Path of Cloud Compute 41 Single Core Multi-Core Single Chain Multi-Unit Cell QPU Cluster Quantum Datacenter Cloud Compute Cluster Trillion Dollar Cloud Cloud Computing We are building the most efficient on-ramp for mass adoption

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 42 Scalable System Design Differentiated Datacenter Interconnect Powerful Compute Module Datacenter Scale = Ecosystem Advantage H100 GPU Ion trap QPU Infiniband Quantum Interconnect Datacenter Scale GPU Computing Datacenter Scale Quantum Computing Source: NVIDIA product images Interconnect Enabling Datacenter Scale Interconnect as a sustainable competitive advantage

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 44 Lightsynq Quantum Memory 1 2 3 2 3 1 Leading quantum memory Proven to enhance networking rates over quantum channels Integrated Photonics Approach Foundry-compatible nanofabrication for performance at scale Proprietary Fiber-to-Chip Coupling Insertion loss 10x+ better than industry standard techniques

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 45 Built for Scalability Faster Transmission Optimal Performance Scalable Design & Foundry Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Quantum Computing Progress Creating Risk to Traditional Networking 48 “Cryptographically relevant quantum computers (CRQC) may be possible in as soon as three years. CRQCs would break all current encryption keys–posing an existential threat to national security and the global economy.” – US Department of War Research & Engineering

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Quantum Key Distribution Is Today’s Solution 49 1010101010110010101011010100 0011011010101010101010110010 SCRAMBLED MESSAGE Alice Bob Eve

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Delivering Quantum Key Distribution Products Today 52 Clavis XG QKD System Technology Readiness Level 9 First QKD Deployment over Fiber Optic Network First Ever Publicly Available QKD System Longest Demonstrated QKD Transit Distance First Deployment of Quantum Cryptography Commercially Available Quantum Security Products First Certified QKD System in the World

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Commercial Adoption Driving Value Creation 53 Leading Telecom, Financial and Government Customers Worldwide Interoperability Partnerships with Global Networking Giants

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Building the Comprehensive Suite of Networking Products to Enable Quantum Data Centers 54

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. One-Stop-Shop for Full Quantum Networks 55 Photon Source Quantum Frequency Converter Quantum DetectorQuantum Repeater Timing Synchronization Quantum Switch Distributed Quantum Computing Prepare & Measure Quantum Key Distribution Entanglement Quantum Key Distribution Telecom Optical Fiber for Quantum Communications Trapped Ion 493 nm Telecom Optical Fiber 1351 nm

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. One-Stop-Shop for Full Quantum Networks 66 Photon Source Quantum Frequency Converter Quantum Repeater Timing Synchronization Quantum Switch Distributed Quantum Computing Prepare & Measure Quantum Key Distribution Entanglement Quantum Key Distribution Telecom Optical Fiber for Quantum Communications Trapped Ion 493 nm Telecom Optical Fiber 1351 nm Quantum Detector

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Vision for the Global Quantum Internet 67 Quantum Data Center Prepare & Measure Quantum Key Distribution Secure ground terminal equipped with high-intensity long wavelengths (telecom) UK Ground Quantum Data Center US Ground Station Telecom Optical Fiber for Quantum Communications Satellite Satellite Ground Station to Satellite QKD Satellite to Satellite QKD Satellite to Ground Station QKD Free Space Optical links

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Vision for the Global Quantum Internet 68 Secure ground terminal equipped with high-intensity long wavelengths (telecom) UK Ground Quantum Data Center US Ground Station Satellite Satellite Entanglement Distribution Ground Station to Satellite Entanglement Distribution Satellite to Satellite Entanglement Distribution Satellite to Ground Station Entanglement Distribution Free Space Optical links Quantum Data Center Telecom Optical Fiber for Quantum Communications

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Case Study: Achieving Remote Entanglement Distribution Milestones with AFRL 70 Trapped Ion 493 nm Telecom Optical Fiber 1351 nm Computer #1 Computer #2

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Quantum Applications Making The Right Technology Choices 75 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 76 Application Results Driven by System Capabilities Number of physical qubits Qubit quality Qubit density Qubit coherence Qubit loss/stability Qubit reloading Gate types Gate speed Shuttling and cooling time Parallelism Connectivity between qubits Connectivity between modules Number of logical qubits Logical error rate Compute capacity (T-gates/year) System cost System uptime System energy consumption Hardware Specs / Characteristics Software Capabilities • Compiler & circuit transpilation • Error detection & mitigation • Control & scheduling • Hybrid integration • CUDA-Q compatibility Applications Real-World Outcomes • Time to solution • Accuracy of solution • Cost to solution • Energy to solution Multimodal Reasoning 1 Image Change Detection 2 Portfolio Rebalancing 3 Decryption (Shor) 4

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 77 Leading in Accuracy, Speed, Cost, and Energy to solution AI Multimodal Reasoning Enables medical diagnostics, sensor fusion, video and text reasoning, sentiment analysis, etc. Image Change Detection Portfolio Rebalancing Decryption (Shor’s Algorithm) Quantinuum Infleqtion Quantinuum IBM Infleqtion PsiQuantum 1 2 3 4 Meaningful fault tolerant application of increasing complexity (2030 estimation) 20x lower energy consumption 170x lower energy consumption 2.5x better cost to solution 40x faster time to solution Applicable to satellite imaging, insurance, environmental monitoring, and intelligence Enable more efficient, resilient, and optimized portfolios Cybersecurity & blockchain: RSA-2048 (TLS/SSL/Web), ECC-256 (Bitcoin, stablecoins) Source: Implied future performance based on publicly available roadmaps

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Winning in Today’s Mission-Critical Application Benchmarks 78 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 79 Benchmark Score Samples 181.6% improvement in average score compared to IBM’s current highest performing quantum system Across 64 samples Finds optimal solutions in large or noisy datasets for real-world performance. Outperforming Peers With Real-World Applications IonQ is leading on mission-critical application benchmarks Approximation Ratio (AR) - “Solution Quality” QAOA Benchmark Score Across Layers Using 36 Qubits Layers (p) - “Problem Complexity” 34.7% improvement in solution quality compared to IBM’s current highest performing quantum system 11 layers Solving complex optimization problems where exact solutions are intractable. Benchmark Score QFT Benchmark Score Over Number of Qubits Qubits 73.9% improvement in solution quality compared to IBM’s current highest performing quantum system At 36 qubits Foundation for algorithms like Shor’s, mapping quantum states into frequency space. Mean FAA Benchmark Scores Across 64 Random Samples Source: IonQ preliminary internal data; 3rd party independent research

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. More to come… Anomaly detection Contact center AI model Vehicle dispatching Carrier shipment selection Logistics center location Drug synthesis catalysts Lead optimization 80 Pharma & Healthcare Logistics Service Industries Protein folding * Not an exhaustive list Early Applications Massive Opportunities

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Accelerating Drug Development through Enhanced Simulations with AstraZeneca 20x Faster time-to-solution than best previously published implementation Business and Technical Challenges Traditional computing struggles to accurately and efficiently model complex transition metal catalysis IonQ’s Quantum Solution QC-AFQMC delivers scalable, high-accuracy simulation of reaction energetics Business Impact Enables faster, more cost-effective drug development and material design CPU QPU GPU <1 hr Laptop 32 hrs Forte 45 hrs 320x H200 81 0 5 10 15 Time, Hartree -1 -2739.2 -2739.0 -2738.8 -2738.6 -2738.4 -2738.2 -2738.0 -2737.8 -2737.6 -2737.4 arXiv:2404.18303 IonQ 2025 Analyst Day

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Quantum AI Case Study Quantum Hybrid LLM Fine-Tuning Boosts Accuracy and Efficiency Business and Technical Challenges: Classical LLMs struggle with sparse, complex, or proprietary data IonQ’s Quantum Solution: Hybrid fine-tuning adds quantum layers to pre-trained LLMs, improving small dataset learning and outperforming classical ML models Business Impact: Improves accuracy by 3.14% and reduces energy use at scale, delivering practical quantum benefits from 46 qubits arXiv:2504.08732 Scaling Efficiently Beyond Classical Average Inference Energy Consumption of Fine-Tuning Circuit IonQ 2025 Analyst Day82 Copyright © 2025 IonQ, Inc. All Rights Reserved.

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Quantum AI in Action Smarter, More Energy Efficient, Less Resource Intensive 83 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. From Insight to Impact 86 Building Quantum Economies Enabling Governments Creating Commercial Value Scaling Through Partnerships Mission Driven ROI Driven Go-To-Market PillarsTwo Types of Buyers

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Copyright © 2025 IonQ, Inc. All Rights Reserved. TODAY2022 - present AI Intelligent compute leading to massive productivity gains Quantum is Now. 87 IonQ Driving the Quantum Revolution 1970s - present Distributed Computers Compute in the hands of millions of consumers and businesses 1993 - present Internet Network to communicate, collaborate, and transact securely and quickly 2002 - present Cloud Massive compute power at much lower costs for developers and organizations TODAY IonQ Quantum Leveraging 50+ years of tech innovation to solve complex problems with the: • Highest performance • Lowest cost • Greatest scalability • World class security IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.

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Copyright © 2025 IonQ, Inc. All Rights Reserved. On-Prem or Cloud Access IonQ Full Stack Quantum Innovation 88 IonQ Applications Development IonQ Quantum Hardware Forte Enterprise Tempo Future Systems Forte Aria IonQ Quantum Software IonQ Hybrid Services SDKs, APIs, Compilers, Cross-Platform Libraries IonQ Quantum OS IonQ Quantum Networking IonQ 2025 Analyst Day Commercial Applications End-to-end Quantum Networks Quantum Internet Distributed Quantum Computing Quantum Key Distribution (QKD)

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Trusted by Top Global Customers and Partners Enabling breakthroughs with leading enterprises and organizations Ecosystem Partners Enterprise Government | National Labs | Universities 89 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Sept 2024 Aug 2024 Nov 2024 IonQ 2025 Analyst Day United States Air Force Research Lab Awards $54.5M Contract University of Maryland $9M Partnership New Chemistry Application with NVIDIA CUDA-Q

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Sept 2024 Nov 2024 New Chemistry Application with NVIDIA CUDA-Q Dec 2024 IonQ 2025 Analyst Day United States Air Force Research Lab Awards $54.5M Contract IonQ Flagship Quantum Computer in Europe

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Nov 2024 Dec 2024 IonQ Flagship Quantum Computer in Europe Jan 2025 IonQ 2025 Analyst Day New Chemistry Application with NVIDIA CUDA-Q IonQ Anchors Maryland’s $1 Billion “Capital of Quantum” Initiative

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Dec 2024 Jan 2025 IonQ Anchors Maryland’s $1 Billion “Capital of Quantum” Initiative IonQ 2025 Analyst Day Mar 2025 Showcasing Quantum Outperforming Classical with Ansys IonQ Flagship Quantum Computer in Europe

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Jan 2025 Showcasing Quantum Outperforming Classical with Ansys IonQ 2025 Analyst Day Mar 2025 Apr 2025 IonQ Anchors Maryland’s $1 Billion “Capital of Quantum” Initiative Global Availability of IonQ Forte Enterprise Through Amazon Braket

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Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ 2025 Analyst Day Mar 2025 Showcasing Quantum Outperforming Classical with Ansys Global Availability of IonQ Forte Enterprise Through Amazon BraketApr 2025 Apr 2025 Shaping the future of quantum computing with DARPA

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Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ 2025 Analyst Day Shaping the future of quantum computing with DARPA Apr 2025 Apr 2025 Apr 2025 Global Availability of IonQ Forte Enterprise Through Amazon Braket $22M Partnership with EPB to create Quantum Computing & Networking Hub in US

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Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ 2025 Analyst Day Apr 2025 $22M Partnership with EPB to create Quantum Computing & Networking Hub in USApr 2025 Apr 2025 Shaping the future of quantum computing with DARPA Japan’s National Institute of Advanced Industrial Science (AIST) Signs MOU with IonQ

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Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ 2025 Analyst Day May 2025 Japan’s National Institute of Advanced Industrial Science (AIST) Signs MOU with IonQApr 2025 Apr 2025 $22M Partnership with EPB to create Quantum Computing & Networking Hub in US IonQ Partners with Sweden’s Einride on Logistics for Autonomous Driving Solutions

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Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ 2025 Analyst Day Jun 2025 May 2025 IonQ Partners with Sweden’s Einride on Logistics for Autonomous Driving Solutions Apr 2025 Japan’s National Institute of Advanced Industrial Science (AIST) Signs MOU with IonQ IonQ Announces Collaboration with AstraZeneca

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Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ Announces Collaboration with AstraZeneca Jul 2025 IonQ 2025 Analyst Day Jun 2025 May 2025 IonQ Partners with Sweden’s Einride on Logistics for Autonomous Driving Solutions Primary Quantum Partner for Korea’s National Quantum Center of Excellence

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Primary Quantum Partner for Korea’s National Quantum Center of Excellence Sep 2025 IonQ 2025 Analyst Day Jul 2025 Jun 2025 IonQ Announces Collaboration with AstraZeneca Diamond Materials Breakthrough with Element Six (DeBeers Group)

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Copyright © 2025 IonQ, Inc. All Rights Reserved. Diamond Materials Breakthrough with Element Six (DeBeers Group) IonQ 2025 Analyst Day Sep 2025 Jul 2025 Primary Quantum Partner for Korea’s National Quantum Center of Excellence

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Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day Financial Update 104 08 Inder Singh Chief Financial Officer and Chief Operating Officer Outline: 1. Show our revenue growth over the last 5 years, bar chart (remind them we are growthy and scaling rapidly) 2. Reaffirming our guidance and talking through what underpins the guidance 3. Map with all countries we have a presence in: we can deal with all customers locally, we have scale, • Could even expand that to include: Australia and Japan (partners) 4. Unit economics: IonQ / Trapped Ion low cost per logical qubit yields low barrier to entry for our customers (low cost is in stark contrast to our competitors – look at Ariel’s slide) • We are the cheapest in DARPA • What is the statement by PsiQ about their fridges • Photo of H1 or H2 computer at Quantinuum which is at least as big as a phone booth and life threatening (not an academic comparison) 5. Cash run rate: we are very well funded, current cash burn – we just raised $1.0B, $1.6Bn • what we should do is look at a few years we have been in existence. How well does cash track EBITDA and unadjusted EBITDA 6. Share count • Back pocket -- will not be part of the deck, but we’ll throw it up when someone asks • Including warrants calcs (status for now, and projected until the end of the year)

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. YoY Growth% IonQ has been approximately doubling GAAP revenue year-over-year 1. CAGR and year-over-year growth represented based on midpoint of 2025 revenue guidance range ($91.0M) 105 $1.6M $11.1M $22.0M $43.1M $82.0M N/A 594% 98% 96% 111%1 2021A 2022A 2023A 2024A 2025E 175% CAGR1 $100.0M Revenue guidance range Copyright © 2025 IonQ, Inc. All Rights Reserved. 1 Diversified business (compute, networking, space) 2 Broader opportunity set than ever before 3 Growing customer adoption Strong Adoption and Expanded Opportunity Set Drive Growth

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Unit Economics Secure Our Long-Term Margin Opportunity Cheapest cost per logical qubit Lowest energy consumption Less space required for safe operation Cost of Acquisition Cost to Compute Deployment Viability Our total cost of ownership and lower BOM costs give us a natural competitive advantage Note: Figures as compared to average of competitor lanscape 106 IonQ Is Practical For Datacenter Scale Deployment

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Our Strong Cash Position Fuels Our Growth Mindset IonQ is well-capitalized to expand our quantum ecosystem $1.68 Bn in cash and equivalents $0 in debt 107 Invest in R&D Scale the infrastructure Build applications Attract talent Maintain flexibility Capital Structure 1 4 3 2 5

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. Quantum Computing Quantum Networking Quantum Security – Terrestrial and Space • Network Components • Entanglement Distribution & Communications • Secure communications (ground and space) • Quantum key distribution • QPUs and quantum hubs • Cloud Access • Applications and services We Are Developing The Quantum Ecosystem Our multi-product strategy creates a flywheel effect 108

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 109 Vista, CA, USA Acquired Qubitekk in Dec 2024 Toronto, Canada Acquired Entangled Networks in Jan 2023 Seattle, WA, USA Opened manufacturing facility in June 2023 Washington DC, USA Acquired Capella in July 2025 Basel, Switzerland Quantum data center through partnership with QuantumBasel in July 2023 Seoul, South Korea Acquired majority stake of ID Quantique in April 2025 Geneva, Switzerland Acquired majority stake of ID Quantique in April 2025 San Francisco, CA, USA Acquired Capella in July 2025 Louisville, CO, USA Acquired Capella in July 2025 Boston, MA, USA Acquired Lightsynq in May 2025 College Park, MD, USA IonQ Headquarters since 2015 Chattanooga, TN, USA Acquired Qubitekk in Dec 2024 Oxford, England Pending acquisition of Oxford Ionics signed in June 2025 Global Footprint Enables Our Go-To-Market

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IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved. 110 Key Takeaways Secures Regulatory Approval from the UK Investment Security Unit for the Acquisition of Oxford Ionics IonQ is the leader in quantum computing and quantum networking delivering value to enterprise and government customers today 36 Quadrillion Times Larger Computational Space than IBM Roadmap to 2 million Qubits on a Chip, Scaling the Same Way as Semiconductors “Cryptographically relevant quantum computers may be possible in as soon as three years" – Dept. of War We are Building and Deploying Quantum Applications Today Achieves 99.99% 2 Qubit Gate Fidelity, the World Record Fidelity & Needed for Scaling Better Qubits 1 2 3 4 5 6

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Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ 2025 Analyst Day111 09 Marco Pistoia Senior VP of Industry Relations JP Morgan | IBM Robert Cardillo Executive Chairman of IonQ Federal National Geospatial- intelligence Agency (NGA) Rick Muller VP of Quantum Systems IARPA | Sandia National Labs Fireside Chat Niccolo de Masi Chairman & CEO Martin Roetteler VP of Quantum Solutions Microsoft

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