BTQ Technologies Corp.

Welcome, everyone. We'll give folks a minute to just trickle in here. All right. Okay. Yeah, 901, I think we can get started. So yeah, welcome everyone to the BTQ Technologies Q2 2026 investor presentation. Yeah, I hope everyone's having a good summer so far and excited to walk you through all the exciting developments that the team's been working on today. Before we get going, I'll just kind of read off the disclaimer as usual. So this communication contains forward-looking statements which involve known and unknown risks and certainties and other factors that may cause actual results to differ materially from those expressed or implied herein. These statements are based on current expectations and assumptions and are subject to change. The company undertakes no obligation to update or revise them except as required by applicable law. Okay, that's good. Today's speakers, so probably familiar by now, we have Olivier, our Chief Executive Officer, Lonny Wong, CFO, Sean Hackett, Head of Product, Philippe Blo, CEO of the QPerfect division that's now fully integrated. We have Chris Tam, President and Head of Innovation, myself, Mathieu, Head of CorpDev, and then Guido, who's CTO of the QPerfect division. So yeah, the agenda today, we're going to go through kind of the key highlights that we achieved over the quarter. Then all of the business lines will provide an update on the roadmap and their outlook by product. And then we'll give kind of like a general market outlook and overview of financial and public markets. So with that, I'll pass it over to Olivier to kick us off here on achievements for the quarter.

Thanks, Mathieu. And thanks to everyone for joining. We've had an exciting quarter that was really marked by a lot of validation of our divisions. And I'll start off with us kind of expanding as a full stack platform, which was marked by the QPerfect acquisition that closed finally on July 8th. So that gives us a A full European Union R&D and commercialization center, which is located in Strasbourg, France, also home of the European Quantum Excellence Center, where a lot of the team cross-pollinates with. We appointed Dr. Gopi Merle-Hellodrine, As our head of quantum algorithms and application research, he's based in our Sydney office and works closely with Dr. Gavin Brennen, our chief quantum officer. We're fortunate to bring on Brant Pascoe full time as our US strategic advisor. He has a lot of experience in government relationships. and Enterprises, having formerly been General Counsel for In-Q-Tel and worked extensively on cryptographic export controls and a lot of the things that we're seeing policy shift towards in terms of relevance for us as a post-quantum cryptography business. Sydney team has been growing and designated as our APAC hub. and our final QSIM hires have been completed, which Sean has been doing a great job of recruiting. And those teams are in San Francisco, Portland and New York, predominantly in the U.S. In terms of product delivery, we've expanded QSSN's mainnet transactions over 100,000 and reduced the time from 35 seconds to 3.8 seconds and been onboarding several institutions, primarily in Korea. Our Bitcoin quantum internal audit was just finalized and our external audit is underway and we hope to be shipping things quite soon into September for a launch. An important milestone was QSIM and ICTK finalizing with their VietPuff technology a few weeks ago. And the first ITRI validated FIPS 203, 204, 205 certification in TSMC 28 nanometers was done just about a week and a half ago. In terms of capital markets, we about a month ago launched a $150 million Canadian ATM with Cantor that has been used selectively to fund our current operations. We also partnered and were selected for Korea's first bank-led Korean long-state stablecoin pilot, which QSSN is powering. Mimix, which is QPerfect's quantum simulator, went live with SDT in a kind of joint venture collaboration where that product in Korea is called Curica. SDT is one of the leading quantum computing companies in Korea. and we also announced a very exciting collaboration with Tidal Power, a US-based data center provider with about 10 gigawatts of power in their pipeline on devising quantum data center architectures that compromise how quantum computers fit into hyperscaler and AI environments along with the required security feature sets. So we're excited for that and to provide updates As that progresses. On Wednesday, we successfully finalized our AGM with the election and direct appointment of all directors. And yeah, this quarter is really meaningful as we kind of, you know, all of our products receive validation towards commercialization into the next, you know, quarters that we're clearing up for in terms of sales cycles. In terms of what we speak to prospective clients and people who essentially want exposure to our product roadmap, The undercurrent of why that's occurring is largely due to government mandates across the board. So we've seen the government of France, the US, Korea, all applying their own mandates in terms of standardization protocols. And we see that being a large growth driver for our various products. and obviously kind of all of these sectors, payments, silicon, digital assets are largely at risk. And I think one thing we've been quite excited about is The years and years of R&D footprints that we've made into our products are enabling opportunities in terms of the, I would say, real-time threat environment that new technologies are poisoning to the world, which I know Sean will go into in a bit more detail. You can flip the slide. So in terms of, you know, BTQ as a company, you know, what we stand for, obviously as an acronym, you know, building trust of quantum, but, you know, that's more so in terms of our product roadmap, which compromises of three divisions, you know, from a CapEx perspective, you know, most of our CapEx has been going into QSIM, which is, you know, quantum compute in memory, silicon networks. So we want, you know, and many more. Thank you. bringing quantum cryptography on chain for the security of a digital money world, which we're seeing increasing adoption in. And then what we're very excited about with QPerfect acquisition is also quantum accelerated networks. So building the next generation of cryptography also enabled by quantum computers, which I know Guido and Philippe will go into a bit more extensively and are, you know, There are standalone products that were developed at QPerfect, Mimic and Clue, but also OSS or one-shot signatures, which are kind of a unique format of quantum cryptography that we think will play a pivotal role in the future of the quantum landscape. And with that, I'll let Sean dive into Silicon Networks.

Okay, great. Yeah, happy to be here as always. It was only about eight months ago that we started the journey on the QSIM product. We went from having no team to having a full team back in April and now going through a tape out. So record time from hiring a team towards hitting a silicon teams, one of their most prized milestones. So huge hats off to the QSIM team. If anybody out there in the audience is on my team, thank you very much for your hard work. I want to give you guys a perspective of where the market is changing around this technology, where we're at in our development process and where our timelines are. But first, I want to sort of address an important change in the market since the time we started working on this. So in the beginning, QSIM had a really important design principle baked in from the start, which is to try to add crypto agility as a property of Roots of Trust and Crypto Engines on top of the already really high demand of making a performant chip and a side channel secure chip. I think what we're starting to see is that crypto agility is taking on a brand new meaning in the age of AI. For the first time over the last couple of months, we're starting to see researchers, cryptographic researchers begin to use AI tools to find novel attacks on cryptographic schemes. Two major results coming out of Anthropic and a team using OpenAI's codecs are finding that cryptanalysis is finding novel attacks and finding potential ways to weaken the schemes that we trust. This is completely different from the quantum threat. Thank you for joining us. and now we're starting to see brand new ways in which that can be challenged. And so AI is posing a meaningful threat to the kind of work that we do, not just on the QSIM side, but also on the blockchain side and all the other cryptography work that we do. So this has caused us to take a beat, pause and try to figure out exactly how we want to address the threats coming out of this world and how we can potentially use the design paradigm that we've been starting here to address these threats. Next slide, please. So to help with this, I'm very excited to be bringing on another key member to our team. Dr. Michael Grace is one of the original founders of the Samsung Fort Knox security team. And before that, he was a major leader on the Android platform security team. These are two companies that have very elite platform security teams and are frequently providing state of the art cybersecurity work that many of the big tech companies use to protect their secure enclaves, to protect their platforms. and we think that this is an extremely important move to be making right now because the threats of quantum computing and AI together are going to compound in a way that will matter not just to device makers who our technology was originally gearing towards, but also to people who sit above and depend on this technology for their software and their network security. And so Dr. Michael Grace is going to be helping lead an effort, an initiative within our company to begin tying the advantages of QSIM to different very important problems that are also worth solving above the part of our stack that we directly engineer. So we're extremely excited to bring on Dr. Michael Grace and we're excited to do great work together. Next slide, please. So on to the development updates, which I know a lot of people have been very antsy to hear about. I think one of the most important things to mention here is that we are, in fact, taping out the QSIM architecture inside of a root of trust. Unfortunately, I'm not able to show you the full diagram there on the right, but our partners over at ICTK have already done all the have already done all the work to integrate our QSIM engine into a full-on root of trust that's being taped out today. It will be capable of running the algorithms in the CNSA 2.0 suite. And we are now sort of conducting our security analysis and have been over the last couple months for a beta release of our IP. As I mentioned before, AI is sort of causing us to slow down a little bit and really consider the security of our products. So We have experienced a slight delay in releasing our IP, but we think that this extra sort of precaution is going to be worth it because the product we'll be coming out with will be a very interesting one. In fact, I want to give you all a sneak peek of the performance numbers and some of the advantages from our chip. These are going to be very preliminary estimates that my team has approved for release. Please go to the next slide. What you see on screen here are some performance figures for MLKEM, which is a NIST post-quantum algorithm, SHA-3, and AES-256, three algorithms that have very little to do with each other that are all running on the same block. Now, normally, in a normal secure enclave, each of these things is going to be supported on a separate ASIC accelerator. One of the most important breakthroughs about our technology here is that we are achieving these performance levels in the same 55,000 gate block. Thank you so much for joining us. But we're running it all in the same block. And because it's so small, running in the same hardware, we're actually finding that we are ending up with gate counts that are much, much smaller than ASICs that run just post-quantum. So compared to the PQ Platform CoPro and the Adams Bridge Accelerator, which you find in Calyptra, we're finding that we can hit record low footprints. And not just record low footprints, but But a block that is able to add even more algorithms and even reuse the same hardware level masking techniques that makes it side channel secure. So a completely new paradigm that we're opening up. And I want to emphasize these are just preliminary figures. Our team has not yet taken the time to go through the optimization steps to make these figures as competitive as possible. and that just leaves a lot of room for even more competitive figures to come out in the future and even more algorithmic support so this is the first time that we're releasing these figures publicly I think we're going to expect these to improve and we're going to be expecting even more information about our side channel security guarantees going forward but already we've already been seeing 1 million trace resistance on TVLA tests for AES-128 on our own in lab test benches. So lots to be excited about here. We think that these advantages combined are going to allow us to address the widest possible amount of chips and provide the easiest upgrade path. and also stay flexible to any of the threats that AI or any other existential threat will pose to cryptography. So super excited. I'll wrap up on the last slide here with just a reminder of our timelines here. So our timelines for releasing ASIC IP and standalone chips are still intact, but we wanted to take the extra time to release our FPGA IP because of security concerns related to the new AI threat. We will be releasing our beta product imminently to some first customers coming very soon in the next couple weeks or so. We're super excited about that. Stay tuned for... for when we finally begin to sign these deals and finally get the technology in the hands of people that are waiting. So I want to hand it off now to Chris Tam, who can sort of expand on what I was talking about, crypto agility and give some updates on blockchain.