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© 2025 Everspin Technologies. All rights reserved. Investor Presentation May 2025 1
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Safe Harbor Statement 2 FORWARD LOOKING STATEMENTS This presentation contains “forward-looking statements” that involve risks, uncertainties and assumptions. If the risks or uncertainties materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact could be deemed forward-looking statements, including, but not limited to: any estimates of addressable market size and our ability to capture that market, market trends and market opportunities, customer growth, product availability, technology developments, or other future events; any statements regarding our plans, strategies or objectives with respect to future operations or business performance; any statements regarding future economic conditions; and any statements of assumptions underlying any of the foregoing. These statements are based on estimates and information available to us at the time of this presentation and are not guarantees of future performance. Actual results could differ materially from our current expectations as a result of many factors, including, but not limited to, risks related to: market adoption of our products; our limited operating history; our ability to raise capital; our rate of growth; our ability to predict customer demand for our existing and future products; our ability to hire, retain and motivate employees; the effects of competition, including price competition; technological, regulatory and legal developments; and developments in the economy and financial markets. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law. 2© 2025 Everspin Technologies. All rights reserved.
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15+ Years in production 150M+ MRAM units shipped 650+ Patents & applications 2,000+ Customers Company Overview 3 Leading provider of MRAM technology and products for mission-critical applications in • Data Center • Industrial • IoT • Automotive • Radiation hardened applications EMEA Sales Munich STT Fab Dresden Operations Sites (including Foundry and OSAT) Regional Sales/ Support Offices APAC Sales Hong Kong Packaging/Test Taiwan STT FAB Singapore Japan Sales Tokyo NAW Sales San Jose, CA HQ/Toggle Fab Chandler, AZ NAC Sales/Design Center Austin, TX FAB PARTNERSHIPS GLOBAL OPERATIONS + SALES NAE Sales Raleigh, NC 3© 2025 Everspin Technologies. All rights reserved.
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Investment Highlights 4 Singular domestic provider of MRAM for mission critical applications Large market opportunity exceeding $4.3B by 2029 Strong financial position with zero debt, expanding operating margins, and positive free cash flow Proven management team with extensive experience delivering market leading technology solutions Diversified blue chip customer base across end markets and applications 4© 2025 Everspin Technologies. All rights reserved.
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The MRAM Value Proposition MRAM as a CPU-attached memory (like SRAM/DRAM) that brings non-volatile capability (like Flash) 5 Persistence Maintains memory contents without requiring power Performance SRAM & DRAM-like performance with low latency Endurance Superior durability supports memory workloads without sophisticated management Reliability Best-in-class robustness designed and tested for extreme conditions MRAM is the only technology delivering all of these attributes in a single product. 5© 2025 Everspin Technologies. All rights reserved.
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Persistent data memory Innovation for transformation Unified code and data memory Everspin MRAM Products © 2025 Everspin Technologies. All rights reserved. 6 Toggle-MRAM AgILYST STT-xSPI (EMxxLX family) STT-DDRx Enhanced Serial NOR-like Chiplet System-In-Package solutions LPDDRx Ultra-Fast Read SRAM-like MRAM for FPGA configuration D-MRAM for AI Inferencing UNISYST in design / AgILYST in development 6
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MRAM combines performance of memory with persistence of storage Persistence Decades of data retention without power or refresh Performance Options Read/write similar to DRAM and SRAM Enhanced NOR Page program Endurance Everspin optimizes MRAM for memory workloads Tunable MRAM For Varying Memory Workloads © 2024 Everspin Technologies. All rights reserved. 7 Write Latency (Seconds) Endurance (Write Cycles) 1.0E-10 1.0E-09 1.0E-08 1.0E-07 1.0E-06 1.0E-05 1.0E-04 1.0E-03 1.0E-02 NAND NOR “Enhanced NOR” STT-MRAM* =/>1.0E+14 1.0E+12 1.0E+10 1.0E+8 1.0E+6 10,000 100 Data Center STT-MRAM Auto / Industrial STT-MRAM DRAMSRAM Auto / Industrial Toggle MRAM ReRAM STORAGE MEMORY * In development © 2025 Everspin Technologies. All rights reserved. 7 Fast Read LPDDRx STT-MRAM* SRAM (Data logging), DRAM (Data center) or NOR Flash (Configuration)
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Legacy Toggle, ST-DDR4 and the new xSPI products serve a market of $1.1B in 2024 → Industrial → Enterprise → nvSRAM, FRAM PERSYST TAM Code and Data Unified products address NOR Flash and Embedded Compute → Enhanced NOR withSPI Faster Writes → LPDDRX- Faster Reads and Writes → NVM Chiplets emerging UNISYST TAM MRAM Product Roadmap Serves a Larger Market 8 PERSYST and UNISYST Served Market $.41B 2024 $1.1B $.33B $.32B PERSYST Toggle PERSYST xSPI PERSYST DDR4 UNISYST LPDDRx UNISYST Enhanced NOR Chiplet $2.2B 2029 $4.3B $.37B $.44B $.59B $.66B $54M 8© 2025 Everspin Technologies. All rights reserved.
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PERSYST Application Examples 9 Data Recorders Black box logging Avionics & Transport Monitoring Devices Patient record logging Medical PLC Modules Data acquisition logging Industrial Controls Real Time Monitoring Inverter and sensor logging Automotive Remote Terminal Units Power data monitoring Electrical & Power Grids Winning Validation Casino, lottery, arcade, etc. Gaming Battery Charging Units Battery health management Electrical Value proposition Low latency (fast data logging), reliability at extreme temperatures Space / Satellite Code and data Aerospace 9© 2025 Everspin Technologies. All rights reserved.
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Automotive – Transportation Engine Control Unit Inverter Control Infotainment Configuration Train Applications Aviation – Commercial and Military Engine Cockpit Display (HMI) Flight Control System Engine Parametric Monitor Event Recording LEO Satellite Datalogging FPGA Code/Config Personal Flight System eVTOL Flight Control System Defense Systems Navigation Control FPGA Programming Radar Tuning Image Sensor Interpolation Rocket/Missile Systems Flight Control Datalogging Radar Arrays Mission Critical Applications - Taking Off with Everspin MRAM © 2025 Everspin Technologies. All rights reserved. 10
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MRAM in Mission Critical Applications 11 → MRAM can be better suited for harsh environments compared with charge-based memories (DRAM, SRAM, and Flash) • High-radiation environments for space, defense, and telecommunications applications • High temperatures in the automotive applications (LUCID, Bugatti, etc.) → STT-MRAM provides a promising scaling path for these applications In power train system of Hypercar EV’s On its way to Jupiter as part of NASA’s Lucy Mission In a camera of NASA Mars 2020 rover, Perseverance 11© 2025 Everspin Technologies. All rights reserved.
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Diversified Top-Tier Customer Base in Significant Markets Serving some of the most demanding customers in segments with long-term stability 12 Enterprise Industrial Automation Medical Network & Infrastructure Casino Gaming MIL / Aero & Transportation 12© 2025 Everspin Technologies. All rights reserved.
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Design Services • Discrete Memory Device or Embedded • Custom STT-MRAM → Full chip enablement or support in-house design team • Ability to leverage proven Everspin commercial IP • Experience with multiple successful engagements 8” MRAM Manufacturing • Everspin owned and operated 8” line in USA • Any foundry CMOS → In production / operation for over 15 years • Trusted US Gov programs and commercial • Everspin Commercial Toggle MRAM line • R&D capabilities (Innovation) 12” STT-MRAM 28/22/16nm • PERSYST manufacturing partnership with GLOBALFOUNDRIES • Manufactured fully at GF • Commercially proven STT MRAM Line • 22nm FD SOI available for rad hard designs Everspin Capabilities Everspin offers the widest capability to develop fully customized STT-MRAM Design to manufacturing 13 13© 2025 Everspin Technologies. All rights reserved.
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Everspin IP Delivers Value Through Licensing Everspin has successfully licensed MRAM, 3D Magnetic Sensor and TMR Head Sensor (HDD) IP Mil-Aero Toggle MRAM Magnetic Sensors Embedded STT-MRAM Head Sensor 14 Embedded MRAM Licensee GLOBALFOUNDRIES expected to begin royalty bearing shipments in 2H 2020 Seagate TMR Head Sensor license in 2019 was based on a non-cash transfer of patents to Everspin © 2025 Everspin Technologies. All rights reserved.
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MRAM for NN, FPGA and Edge AI 15 • Analog compute architecture → Supervised and Unsupervised learning • Chiplet or Embedded architecture for Edge Synaptic Devices for NN → Novel Everspin IP for “Distributed MRAM” • Instant on, Fast reads, Low power • Distributed weight storage architecture for Edge Distributed MRAM for AI Everspin roadmap addresses in-memory compute, FPGA configuration memory, and AI inference • MRAM for configuration storage • Chiplet for <40nm nodes where NOR does not scale → SRAM-like MRAM for embedded architecture MRAM for FPGA 15© 2025 Everspin Technologies. All rights reserved.
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MRAM & Technology Roadmap PERSYST Persistent Data Memory UNISYST Unified Code and Data Memory AgILYST Distributed Memory for FPGA, Edge AI (New Markets) LEGACY 2023 TODAY 2025 2026 20272022 8” legacy nodes 8” 90nm28nm New Products < 22nm In Planning Toggle MRAM P-SRAM to 32Mb Parallel and Serial EMD001G 1Gb P-DRAM EMxxLX 8 – 128Mb P-SRAM xSPI 200Mhz EMxxLX 4 – 16Mb P-SRAM xSPI 200Mhz 256Mb-2Gb Fast Read xSPI 200Mhz 256Mb-1Gb Fast Read LPDDRx Chiplet Wide IO System-in-Package w/KGD STT-MRAM FPGA, Edge AI STT-MRAM FPGA, Edge AI Co-packaging and Chiplet 16© 2025 Everspin Technologies. All rights reserved.
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Executive Team Proven team with strong experience in delivering market leading technology 17 Sanjeev Aggarwal President & CEO Bill Cooper Chief Financial Officer David Schrenk VP, Sales & Business Development Amit Shah VP, Backend Operations Yong Kim VP, Product Development Kerry Nagel VP, Technology R&D Khaldoun Barakat VP, FAB Operations & Quality 17 © 2025 Everspin Technologies. All rights reserved.
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Financial Highlights 18 48.9% 43.0% 60.0% 56.6% 58.4% 51.8% FY19 FY20 FY21 FY22 FY23 FY24 $(9.0) $(3.2) $8.3 $6.7 $11.7 $4.0 FY19 FY20 FY21 FY22 FY23 FY24 $37.5 $42.0 $55.1 $60.0 $63.8 $56.5 FY19 FY20 FY21 FY22 FY23 FY24 Revenue ($m) Free Cash Flow ($m) Gross Margin (%) 18© 2025 Everspin Technologies. All rights reserved. $6.1* $50.4 *Contract recognized in Other Income
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© 2025 Everspin Technologies. All rights reserved. investor.everspin.com ir@everspin.com 19