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rigetti Q2 2026 Results Presentation August 6 , 2026 inici 6840 27.24 1
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Copyright Rigetti Computing 2026 Cautionary Notes 2 Forward Looking Statements: Certain statements in this presentation may be considered forward-looking statements, including statements with respect to the Company’s outlook and expectations, including confidence with respect to Rigetti's superconducting, chiplet-based approach and roadmap to quantum advantage; positioning for the next phase of quantum computing; intention of the LOI to support long-term scaling through accelerating superconducting quantum computing research and development and accelerating multiple generations of processors and control electronics; system deliveries targeted for 2026; and Company’s long-term commercial visibility continues to build. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company and the Department’s ability to enter into definitive transaction agreements; the timing of entry into any such definitive transaction agreements; potential impact on the Company, its business and price of its securities with respect to the transactions contemplated by the LOI and definitive transaction agreements; the Company’s issuance of securities to the Department pursuant to the transaction (including dilution to existing stockholders); the Company’s ability to achieve milestones, technological advancements, including with respect to its technology roadmap; Company’s ability to deliver products to customers in time or at all, including actions by customers, such as controls over their facilities and cancelling orders; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the success of the Company’s partnerships and collaborations; the Company’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the Company’s estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives and expansion plans; the expected use of proceeds from the Company’s past and future financings or other capital; the sufficiency of the Company’s cash resources; unfavorable conditions in the Company’s industry, the global economy or global supply chain, including rising inflation and interest rates, deteriorating international trade relations, political turmoil, natural catastrophes, warfare, and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 and other documents filed by the Company from time to time with the Securities and Exchange Commission. 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 the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations. Use of Data - Industry and market data used in this presentation have been obtained from third-party industry publications and sources as well as from research reports prepared for other purposes. The Company has not independently verified the data obtained from these sources and cannot assure you of the data’s accuracy or completeness. This data is subject to change. References in this presentation to our “partners” or “partnerships” with technology companies, governmental entities, universities or others do not denote that our relationship with any such party is in a legal partnership form, but rather is a generic reference to our contractual relationship with such party. Trademarks - This presentation contains trademarks, service marks, trade names and copyrights of other companies, which are property of their respective owners.
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Copyright Rigetti Computing 2026 3 Rigetti’s Mission: Build the world’s most powerful computers to help solve humanity’s most important and pressing problems
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Copyright Rigetti Computing 2026 Three Milestones Defined the Quarter • Continued technical progress on Cepheus-class systems, including ongoing progress against technology milestones, including two-qubit gate fidelity, coherence time and gate speed. • Department of Commerce LOI for up to $100M of potential funding would enable Rigetti to pursue R&D projects that address major technical challenges in scaling and advancing superconducting quantum computing. • Expanded collaboration with HPE and the Pittsburgh Supercomputing Center advances development of hybrid quantum-classical supercomputing solutions. 1 2 3 4
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Copyright Rigetti Computing 2026 Why Rigetti is Well Positioned for the Next Phase of Quantum Computing Superconducting gate-based approach offers scalability and speed Open architecture enables integration of partner technologies Chiplet architecture provides a practical path to 1,000+ qubits 5
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Copyright Rigetti Computing 2026 Cepheus-1-108Q Continues to Demonstrate Technical Leadership • One of the highest-qubit-count generally available gate-based quantum computers in the world • Largest modular quantum computing system on the market today • Built from 12 interconnected 9-qubit chiplets • Accessible via Rigetti QCS, Amazon Braket, Microsoft Azure Quantum, and qBraid • Chiplet architecture remains the foundation for future scaling beyond 1,000 qubits 6
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Copyright Rigetti Computing 2026 Performance Continues to Advance Focus remains on continued fidelity improvement throughout 2026 ~99.1% 99.9% ~60 nanoseconds 99.6% 108Q Median two-qubit gate fidelity 108Q Median single-qubit gate fidelity 108Q Gate speeds 36Q Median two- qubit gate fidelity 7
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Copyright Rigetti Computing 2026 Chiplet-Based Roadmap Remains on Track 8 • Infrastructure for 1,000Q • 99.9% fidelity objective • <50ns gate speed goal • Quantum advantage target
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Copyright Rigetti Computing 2026 9 Department of Commerce LOI Supports Long-Term Scaling Strategy • Selected for a potential award of up to $100 million over three years • Intended to accelerate superconducting quantum computing R&D • Funding would support scaling challenges associated with multi-chip architectures • Intended to accelerate multiple generations of processors and control electronics • Reflects growing strategic importance of quantum computing to U.S. competitiveness
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Copyright Rigetti Computing 2026 Cloud access available through Rigetti QCS, Amazon Braket, Azure Quantum, and qBraid Additional demand from national laboratories and universities University of Saskatchewan engagement continues Large Japanese conglomerate added to growing customer base Three system deliveries remain targeted for 2026, including the 108-qubit C- DAC system in India Customer Adoption Continues to Build Across Channels 10
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Copyright Rigetti Computing 2026 11 Expanding Hybrid Quantum-Classical Computing with HPE • Expanded collaboration with HPE and Pittsburgh Supercomputing Center • 9-qubit Novera system to be deployed into PSC's TangleLab environment • Supported by National Science Foundation funding • Designed to integrate quantum computing with HPE-powered supercomputing infrastructure • Enables researchers and industry users to develop and test hybrid quantum- classical workloads
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Copyright Rigetti Computing 2026 12 Global Quantum Investment Continues to Accelerate • Increasing government investment in quantum computing globally • Continued UK investment initiative supporting systems, talent, and infrastructure • C-DAC award reflects national-level investment in quantum technologies in India • Growing coordinated activity across Europe and Asia • Commercial interest increasing across materials, logistics, and financial services
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Copyright Rigetti Computing 2026 Capital Strength Supports Disciplined Execution • $541M cash, cash equivalents, and investments at quarter end with zero debt outstanding • Investments focused on: Fidelity improvements, scale and coherence advancement, control electronics, adding new equipment to Fab-1, and refrigeration infrastructure • Potential CHIPS Act funding would further support roadmap execution • Capital allocation remains aligned with technical milestones 13
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Copyright Rigetti Computing 2026 Q2 2026 Results Reflect Continued Execution Revenue $5.1M Driven by on-premises Novera QPU and system deliveries Non-GAAP Net Loss $16.0M Compared with $13.3M prior year Gross Margin 43% Driven by contract mix and the relative contribution of system deliveries Cash at June 30, 2026 $541M (no debt) Providing runway through quantum advantage 14
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Copyright Rigetti Computing 2026 Quarter Reinforced Path to Quantum Advantage Continued R&D to improve performance across Cepheus-class systems 15 Department of Commerce LOI highlights growing U.S. investment in quantum computing R&D Customer adoption broadened across cloud and on-premises channels Expanded HPE collaboration advances hybrid quantum-classical computing opportunities Capital resources remain aligned with long-term technical execution and scaling objectives
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Copyright Rigetti Computing 2026 Long-Term Commercial Visibility Continues to Build 16 Technology Adoption Strategic Validation Continued advancement of Cepheus-class systems Ongoing R&D to improve system performance Growing engagement across cloud and on- premises channels Activity from government, academic, and commercial users Department of Commerce LOI Expanded HPE / PSC collaboration
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Copyright Rigetti Computing 2026 17 Third Quarter 2026 Investor Event Schedule Event Location Date Needham Semiconductor and SemiCap Conference Virtual Aug. 19-20 Jefferies Semiconductor, IT Hardware & Communications Technology Conference Chicago, IL Aug. 25-26 World Knowledge Forum Seoul, South Korea Sept. 8-10 Piper Sandler Growth Frontiers Conference Nashville, TN Sept. 16 Benchmark’s TMT One-on-One Conference New York City, NY Sept. 17 Quantum World Congress College Park, MD Sept. 23-25
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Copyright Rigetti Computing 2026 Appendix 18Copyright Rigetti Computing 2025
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Copyright Rigetti Computing 2026 Consolidated Balance Sheet (in thousands, except number of shares and par value) (unaudited) 19
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Copyright Rigetti Computing 2026 Consolidated Statements of Operations (in thousands, except per share date) (unaudited) 20
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Copyright Rigetti Computing 2026 Consolidated Statement of Cash Flows (in thousands) (unaudited) 21
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Copyright Rigetti Computing 2026 Reconciliation of Net Income to Non-GAAP Net Loss and Calculation of Non-GAAP Net Loss per share attributable to common stockholders – basic and diluted (in thousands, except per share data) (unaudited) 2222
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