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A n n u a l S h a r e h o l d e r s M e e t i n g 2025 Augmenting the world
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NASDAQ: VUZI WWW.VUZIX.COM 2 Cautionary Note Regarding Forward Looking Statements Certain statements included in this presentation may be considered forward-looking. All statements in this presentation that are not historical facts are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be taken as guarantees of future performance or results. We may use words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “could,” “seeks,” “estimates,” and variations of such words and similar expressions in identifying forward-looking statements. The forward-looking statements herein include, but not limited to, statements concerning: our possible or assumed future results of operations; our business strategies; our ability to attract and retain customers; our ability to sell additional products and services to customers; our cash needs and financing plans; our competitive position; our industry environment; our potential growth opportunities; expected technological advances by us or by third parties and our ability to leverage them; the effects of future regulation; and the effects of competition. These statements are based on our management’s beliefs and assumptions and on information currently available to our management. It is important to note that forward-looking statements are not guarantees of future performance, and that our actual results could differ materially from those set forth in any forward-looking statements. Due to risks and uncertainties, actual events may differ materially from current expectations. For a more in-depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading "Risk Factors" in the Company’s most recent annual report on Form 10-K and other documents that the Company has subsequently filed with the SEC. Vuzix disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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NASDAQ: VUZI WWW.VUZIX.COM 3 Vuzix has achieved significant progress over the past year and stands stronger than ever for long term success Relationships Operations Solutions Manufacturing
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NASDAQ: VUZI WWW.VUZIX.COM 4 Vuzix’ vision has been clear from the beginning of the HMD industry SMART GLASSES ARE THE FUTURE OF COMPUTING! Relationships Operations Solutions Manufacturing • The world is seeing acceleration in the space and Vuzix is geared for success having created cornerstone capabilities: • In-house Solutions development • High volume Manufacturing • Growing # of Relationships • Operations streamlined and focused • In a market expected to exceed tens of millions of glasses annually. • Think for minute just how big this next phase of the computer industry has the potential to be…. • The global personal computer market was 245 million units (est.) in 2024 • The global smartphone market was 1.4 billion units (est.) in 2024 • Smart Glasses are touted to be the next generation of computing device → being aligned to compliment and even replace the smartphone
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NASDAQ: VUZI WWW.VUZIX.COM 5 Why Vuzix Is Well Positioned for Future Success Seasoned leadership team with a strong combination of experience and industry knowledge Strong IP Portfolio with 425+ patents and patents pending and extensive technological know-how Expanding family of competitive SG products and full custom OEM and white label solutions Scalable high-volume, low-cost waveguide manufacturing Innovative and disruptive waveguide technology roadmap Fast turn full custom waveguide design to manufacturing
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NASDAQ: VUZI WWW.VUZIX.COM 6 Vuzix’ Dual Pillars of Growth Vuzix' revenue growth will be driven by two core business sources centered around smart glasses technology OEM Waveguide Design and Manufacture Enterprise Smart Glasses Products and Software
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NASDAQ: VUZI WWW.VUZIX.COM 7 The Progression of AI-enabled AR Smart Glasses is Coming AI-enabled AR is on the cusp of revolutionizing how we gather and interact with real-time information, setting the stage for unprecedented digital transformation • Progression of AI-enabled AR using AI agents is coming and fast • AR +Ai allows the gathering of information in real time which brings endless opportunity for real world applications • Apple, Google, and Meta, among others, know the value of AI-enabled AR
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NASDAQ: VUZI WWW.VUZIX.COM 8 Vuzix’ Market Opportunity Millions of units = Billions of revenue dollars
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NASDAQ: VUZI WWW.VUZIX.COM 9 OEM Waveguide Design and Manufacture AR Smart Glasses Culminating in 1B units by 2030 Waveguides At an ASP of $60 = $60B/year Attaining 10% share: $6B/year ▪ Vuzix waveguide supply within reference designs and finished consumer products represents the largest single market opportunity ▪ Vuzix’ optics component solutions are also sought after for military applications and by Fortune 500 enterprise companies for custom designs
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NASDAQ: VUZI WWW.VUZIX.COM 10 Enterprise Smart Glasses Products and Software Enterprise Smart Glasses 250k - 1M units/year* TAM@$1000 ASP $250m – $1B/year Attaining a 20% share: $50m - $200M/year ▪ The enterprise smart glasses market is projected to experience a 20x-50x unit increase by 2028 ▪ Vuzix has a growing pipeline of enterprise sales opportunities in place ▪ Expanding use of Moviynt software offers significant incremental revenue opportunities * Trimed from 2028 forecast from IDC, ResearchAndMarkets, et al.
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NASDAQ: VUZI WWW.VUZIX.COM 11 Solutions OEM Waveguides
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NASDAQ: VUZI WWW.VUZIX.COM 12 Waveguides Are Critical to AR Smart Glasses Optical Waveguides Transparent Thin Lightweight Full color Various Projectors …But PRODUCING them in high volume at low cost with the needed level of functionality and performance is EXTREMELY CHALLENGING Waveguides are one of the most critical technologies needed to deliver the future of AR smart glasses…
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NASDAQ: VUZI WWW.VUZIX.COM 13 Vuzix Is a Leader in Waveguide Technology and Fabrication Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam tincidunt odio eu magna tristique gravida et in quam. Morbi et arcu sed nisl facilisis commodo at eu libero. 2020 Archive ➢ Vuzix can design and fabricate a customized waveguide for a customer in just three months ➢ Vuzix has tripled its waveguide efficiency for higher brightness and more efficient battery usage ➢ Vuzix can make waveguides in form factors ranging from small to large ➢ High index substrates and polymers supporting single layer designs and much larger fields of view
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NASDAQ: VUZI WWW.VUZIX.COM 14 Vuzix Incognito Virtually Eliminates Forward Eye Glow Grating Design: Structures engineered to reduce forward light by 87%. Tinted Covers: Additional absorption of forward light emitted by the waveguide. Optical Power: Utilization of optical power in covers and waveguide to keep emitted light out of focus. System Design: Implementation of design considerations to redirect forward light away from observers. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam tincidunt odio eu magna tristique gravida et in quam. Morbi et arcu sed nisl facilisis commodo at eu libero. Key Components 2020 Archive Introducing Incognito: a new advancement in see-through waveguide technology Incognito allows Vuzix smart glasses users to be viewing information discreetly. The elimination of forward light through the technology of Incognito delivers privacy to the smart glass user. Impact- The combined effect of these measures results in the absence of any visible glow to most observers. Any emitted light is redirected, reduced, and diffused. The front lens below defocuses redirected forward light from the waveguide, diffusing any remaining light, making it unreadable to observers. 14
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NASDAQ: VUZI WWW.VUZIX.COM 15 First and Foremost, Glasses must have Prescriptions Vuzix Offers Prescription Integrated Rx Assembly ➢Fully integrated ✓ Thinnest Rx stack ✓ Integrated assembly ✓ Minimized reflections ✓ Defocused forward light ✓ Supports practically any prescription range ✓ Supports bifocals
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NASDAQ: VUZI WWW.VUZIX.COM 16 Manufacturing Waveguide Production
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NASDAQ: VUZI WWW.VUZIX.COM 17 ■ Unique class 10 clean room facility with custom equipment and can expand up to ~39k sqft ■ Leading waveguide production while achieving high volumes at unmatched costs and yields ■ Direct support for Vuzix’ enterprise AR products and expansive OEM opportunities FACILITY Waveguide Mega-Manufacturing Facility Made in the USA
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NASDAQ: VUZI WWW.VUZIX.COM 18 Vuzix Waveguide Facility Video
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NASDAQ: VUZI WWW.VUZIX.COM 19 West Coast Waveguide Tools Development Center Purchased from Major West Coast Technology Firm 6 gasses hook up to run all processes Oxford IonFab 300 Plus Ion beam etcher
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NASDAQ: VUZI WWW.VUZIX.COM 20 2018: Initial production capacity brought online to support the launch of the Vuzix internal products 2023/2024: New expandable facilities with production capacity currently at 1M+ units/year and at broad market price points By 2028: Further annual production capacity expansions to 20M to 40M units, dependent on end market demand * 30% leased with option to lease entire 39,000 ft² facility Low-Cost High-Volume Waveguide Production Capacity is Expanding
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NASDAQ: VUZI WWW.VUZIX.COM 21 Who will win? (MANY) Vehicles Smartphones Smart Glasses 800+ manufacturers 7000+ models 200+ manufacturers 24000+ models Along with Vuzix there will be other multi- $B winners!
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NASDAQ: VUZI WWW.VUZIX.COM 22 Waveguide Competitors have a Long Way to Go Competition Semiconductor models Expensive semiconductor process equipment Low volume, High cost, Doesn’t scale well Prismatic model Many steps to produce, Very expensive Not scalable Holographic model Expensive and low volume equipment Expensive to produce Vuzix Custom developed design through production Million units/year 2024 in house capacity 1/10 the cost to produce vs the competition Flexible to accommodate any design Fast turn designs (3 months) Supports large and small format imprinting
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NASDAQ: VUZI WWW.VUZIX.COM 23 Solutions Enterprise Smart Glasses Products and Software
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NASDAQ: VUZI WWW.VUZIX.COM 24 Five Key Market Segments for Enterprise AR Smart Glasses Warehousing – brick and mortar, online retails, logistics hubs, repairs & maintenance, Barcode Scanning, Order Picking & Fulfillment • Field Service – work instructions, tribal knowledge transfer, remote support, training, collaboration, security & 1st responders, police and emergency personal Manufacturing – Complex manufacturing, workflows instructions, inline quality insurance, part count and tracking, training, Quality Assurance, Video/Step Confirmation • AI/ Edge Compute – AI and Edge cloud driven applications crop monitoring and optimization, education, assistive technology hearing impaired and visual impaired, diagnostics, consumers applications, optimized “guides”. 02 • Healthcare – tele-medicine, surgery, patient care, nursing, ambulatory services, remote collaboration, Procedure Assistance, Pharmaceuticals 04 05 Note: AI / Edge Compute will eventually overlap a large portion warehousing, manufacturing, field service and healthcare verticals
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NASDAQ: VUZI WWW.VUZIX.COM 25 Vuzix ‘ Industry-Leading AR Smart Glasses Product Line-Up The MOST versatile and broadest product family in the industry: ✓ A complete product line - not a one-trick pony with a single device offering ✓ Built out exclusive to Vuzix technology ✓ Competitively Positioned within the Smart Glasses Industry VUZIX HAS A LINE OF SMART GLASSES SOLUTIONS FOR TODAY AND TOMORROW
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NASDAQ: VUZI WWW.VUZIX.COM 26 LX1 – Logistics Purpose-built Viewer • Coming fall of 2025 • Improved Ruggedized Design • High Resolution (up to 720p) OLED display • 12MP Camera • Louder Speaker • Improved voice recognition • 10+hr runtime • NFC tap-to-pair • Improved Wi-Fi w/ 6E support • Android 15 at launch, yearly updates • SoC availability to 2030 • Co-developed with Quanta Computers Confidential
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NASDAQ: VUZI WWW.VUZIX.COM 27 Ultralite Pro design platform • Binocular • Full color • Android OS • Camera • Speakers/Mics • Incognito Waveguide Design • Standalone • Design with Quanta team • Platform for 3rd party white label and OEM customers • Certain enterprise customers are asking for a Vuzix labeled version (TBD) Confidential
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NASDAQ: VUZI WWW.VUZIX.COM 28 Vuzix Solutions (SaaS) ➢Moviynt, a SAP certified SaaS based ERP solution provider, was acquired by Vuzix in November 2022 ➢Real-time dashboard analytics by warehouse worker and shift management, error management and more ➢Solution is operational in multiple warehouses with a major global aerospace customer ➢Growing pipeline of large supply chain opportunities across multiple industries ➢Vuzix’ mobility software platform eliminates traditional middleware, is device agnostic (smart glasses and handhelds) and can ultimately support multiple ERP systems including SAP , IBM and Oracle and others ERP SaaS logistics solution provider Leverages AI and machine learning to drive efficiency Pioneering the next digital transformation - which is here now Supports digital transformation with native device feature integration
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NASDAQ: VUZI WWW.VUZIX.COM 29 Relationships Partnerships & Customers
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NASDAQ: VUZI WWW.VUZIX.COM 30 The Quanta/Vuzix Partnership Strategic Investment Reference Designs Product Production Waveguide Supply ODM Customers Enterprise Customers + OEM WG Supply
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NASDAQ: VUZI WWW.VUZIX.COM 31 Waveguide Design Waveguide Supply OEM Customers Traditional OEM Waveguide Relationship Waveguide OEM XYZ Customer
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NASDAQ: VUZI WWW.VUZIX.COM 32 Waveguide Design Finished Product OEM Customers Traditional OEM Product and Waveguide Relationship White Label OEM ABC Customer Product Design
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NASDAQ: VUZI WWW.VUZIX.COM 33 Operations Gearing Up for Waveguide Manufacturing and Supply
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NASDAQ: VUZI WWW.VUZIX.COM 34 Vuzix Foundation Continues to Strengthen ➢ Quanta relationship and strategic investment of $20M ($15M to date) is focused on waveguide supply chain, product design and manufacturing ➢ Vuzix proven factory can produce waveguides in volume with correlating high yields ➢ Acquisition of advanced waveguide R&D facility in Milpitas, California focused on waveguide development capabilities, a critical component for next-generation AI/AR smart glasses ➢ Growing number of opportunities in logistics and warehousing centered around Vuzix smart glasses + Vuzix solutions (SaaS) ➢ Increasing presence and OEM programs with prime defense contractors and others ➢ Ongoing focus on cost and product optimization
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NASDAQ: VUZI WWW.VUZIX.COM 35 Key Vuzix Takeaways • The Progression of AI-enabled AR Smart Glasses is Coming (The Killer App) • Strongly positioned to become a leading supplier for the unfolding multi-$Billion smart glasses market: • Industry leading waveguide supplier • Enterprise industry’s most competitive family of AR smart glasses • Deep industry knowledge • Large revenue potential at scale • Strong IP position with 425+ patents and patents pending • Flow of business catalysts expected
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NASDAQ: VUZI WWW.VUZIX.COM 36 Thank you