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INVESTOR PRESENTATION
NASDAQ: WKEYSIX: WIHN
November 2020
Securing and Removing complexities of securing people, applications and
objects in the connected world
DISCLAIMER2
This communication expressly or implicitly contains certain forward-looking statementsconcerning WISeKey International Holding Ltd and its business. Such statements involve certainknown and unknown risks, uncertainties and other factors, which could cause the actual results,financial condition, performance or achievements of WISeKey International Holding Ltd to bematerially different from any future results, performance or achievements expressed or impliedby such forward-looking statements. WISeKey International Holding Ltd is providing thiscommunication as of this date and does not undertake to update any forward-looking statementscontained herein as a result of new information, future events or otherwise.
This corporate presentation does not constitute an offer to sell, or a solicitation of an offer to buy,any securities, and it does not constitute an offering prospectus within the meaning of article652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaningof the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation ofWISeKey and its securities, including the merits and risks involved. Nothing contained herein is, orshall be relied on as, a promise or representation as to the future performance of WISeKey.
Since 1999
AT-A-GLANCE
SWX: WIHN*Nasdaq: WKEY**
HQ Geneva84 Employees
* Listed on the SIX Swiss Stock Exchange since March 2016
** ADRs listed on Nasdaq since December 2019
1.6 BillionVaultIC IoT chips installed
since 2010
> 3,500 Customers
5 BillionBrowsers with WISeKey Root of Trust installed
CEO: IoT security pioneer
Global cybersecurity pioneer delivering digital identity ecosystems with artificial intelligence to secure the Internet of Things (“IoT”) and automate decision making
3
$ 17.4 MCash position at 12/31/2019
$22.7 MRevenue for FY 2019
$6.4 MInvestment in R&D during 2019
INVESTMENT HIGHLIGHTS4
Serving the RAPIDLY-GROWING IoT cybersecurity and digital brand protection markets
UNIQUE CHIP-TO-AI-CLOUD PLATFORM simplifies connected objects, decisions and security
Core technology has HORIZONTAL ADOPTION across a wide range of industries
LARGE installed base of REPEAT & LONG-TERM blue-chip customers
Digital transformation (AI + IoT = AIoT) is increasing cybersecurity spending in every sector
SOLID FINANCIAL POSITION; Unique Trust Model and THREE-FOLD GROWTH STRATEGY
THE PROBLEM5
The connected security landscape is like the Wild West;
fractured, dangerous, and hard to navigate
Costly, Complicated Designs
In-house security experts required to stitch each block together.
Disconnected Vendors/Brands
Requires navigation through a sea of security components.
Security Holes at Every Turn
Each integration step represents a new security risk if it isn’t done right.
WISeKey’s integrated solutions are designed to solve this problem
DIGITAL TRANSFORMATION STRATEGY 6
Securing the IoT and beyond
Digital Identities
Root of Trust
HIRO
Artificial Intelligence
Certificate Authority
Data Cloud
Semiconductors
Secure NFC
Devices I Systems I Code I Objects I People
“Birth Certificates” for everything
Automating decision making
Making everything intelligent
Embedding Secure Elements
Integrated solution offers a digital identity ecosystem establishing trust at every point
DELIVERING REAL-WORLD SOLUTIONS7
Secure IoTProviding our own Microchips, Cryptographic
Root of Trust and Trusted PKI technology for the security of connected devices and systems.
Digital Brand ProtectionUsing NFC connectivity and Blockchain Identity to ensure
the authenticity of goods, at any moment, from the supply chain to the end user and beyond.
Artificial IntelligenceDelivering automated decision making through AI with ethical principles of respect for human
autonomy, fairness and accountability.
Digital Identity SolutionsProtecting anything on the move by
securing your digital identity and data communications.
The investment has been in product!
MARKET TRENDS8
Digital Growth, Data ExplosionData being generated by 2025
Connected Device ExpansionDevices in a 5G world by 2035
Edge Intelligence
Collect data closest to the consumer
Platforms Win
Integrated platforms solve complexities
163 ZB 1T
9
IOT MARKET GROWTH9
0
10
20
30
40
50
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020
50B
Large networked systems
Individual connected PCs
Inception of IoT
A new connected world
*Data: Gartner/TTV –https://www.telecomtv.com/content/iot/the-cost-of-making-iot-more-secure-will-reach-3-1bn-by-2021-16528/https://www.gartner.com/en/newsroom/press-releases/2018-03-21-gartner-says-worldwide-iot-security-spending-will-reach-1-point-5-billion-in-2018
912
1,174
1,506
1,931
2,457
3,118
2016 2017 2018 2019 2020 2021
Annual IoT Security Spend ($ millions)
Connected Devices(in billions)
OUR PRODUCTS & SERVICESA complete suite of Digital Identity products, intentionally designed to remove the complexities of connected security
10
THE WISEKEY ECOSYSTEM
• Digital Identity Solutions
• Secure IOT solutions
• Artificial Intelligence
• Digital Brand Protection
THE WISEKEY ECOSYSTEM1
1
Single Vendor Simplicity
Combining best-in-class hardware, software, and managed services in an easy to adopt platform.
SecuredHardware
Protected Products
Managed Services
Integrated Security Platform Powered with Artificial Intelligence based decision making
Modular Flexibility
Customers can select, and only pay for, the appropriate components for their specific market vertical and take advantage of existing infrastructure
Trusted Security
Built with FIPS and CC accredited cryptographic technologies by security veterans.
Certified Software
SecuredPeople
THE WISEKEY FORESIGHT PLATFORM1
2
5 BILLION ROOT OF TRUST INSTALLED
A secure trust anchor, publicly recognized by applications and operating systems world-wide installed on computers and mobiles.
1.6B SEMICONDUCTORS INSTALLED
Semiconductors used for the protection of digital identities on hardware devices and objects.
250M DIGITAL IDENTITY CERTIFICATES SIGNED PER YEAR
Trusted provisioning and management of digital identities and transactions.
WISAIoT• Integrates semiconductors, smart sensors,
IoT systems, AI and a data cloud and collects data
• Delivers a unique offering to power innovation and digital transformation
HIRO • Processes collected data• Automatically acts upon in real time in a
highly secure environment
WISeKey’s Digital Identity Ecosystem is expanding exponentially
DIGITAL IDENTITY SOLUTIONS
Secure Digital Identities
The root of trust that drives your business is powered by WISeKey
Secure Validation of Everything
WISeKey can identify, secure and validate all of your people, systems, applications, devices, objects and transactions
Trusted Security
WISeKey delivers unparalleled digital identify solutions in a variety or forms to exceed your business needs
PKI SolutionManaged PKI Service WISeID
Delivered from WISeKey’sowned secure datacenter in Switzerland, ensuring the privacy of your data according to the highest standards
• Multiple certificate templates
• Isolated multi-tenant access
• Dedicated customer CAs
• WISeKey trusted CAs• Optional dedicated
infrastructure
App for personal digital ID and data protection for email, digital signatures and a personal vault for your digital assets
OR
The corporate version that allows you to secure the interactions with your employees and customers
Trusted provisioning and management of digital identities and transactions implemented in your own datacenter empowering your own solution. With all of the options from our managed PKI service delivered under your control
13
SECURE IOT SOLUTIONS
Trusted Security
WISeKey protects the connected world where increased vulnerabilities have emerged for hackers to destroy reputation, value, trust and more
Secure Solutions
WISeKey delivers vertically integrated solutions with secure identities and connections from the edge through to the cloud
Artificial Intelligence Powered
With the HIRO platform from aragofully integrated, the inclusion of autonomous decision-making drives massive operational efficiency
Access Control
Foundation Security
End-to-End Security
A unique and immutable device
identity and robust root of trust are the
foundation of IoT Security (OISTE.org
Root of Trust)
Design Security
Out of the box, simple, secure and
cost-effective device on-boarding
Ensure the real end-to-end privacy, integrity and
authenticity of your data in transit from
silicon to cloud
Guard sensitive information on your device with the need of a Secure Element
chip
14
ARTIFICIAL INTELLIGENCE1
5
Problem Solving
HIRO™ knowledge basedproblem solving platform is data driven for maximum decision-making accuracy and efficiency
Human Expertise Harnessed
The HIRO problem solving engine has the ability to capture human expertise and scale the decision processes to any application
Authentic Action
WiseKey delivers everything necessary to authenticate devices, objects, people and more, but with HIRO -authentication is extended to data and the actions and decisions themselves
Data PoolHIRO Engine Data Authentication
Human knowledge is normally hard to
incorporate in digital processes. Any application built on the platform can capture human expertise
and scale decision making. This is the only way to
apply experience in billion-device IoT scenarios
The HIRO platform has an oAuth based Identity that
is used to control access to any data point or AI
activity which is integrated with all of the WISeKey
services
A scalable data backend is the key to any data-driven business. The knowledge core can handle semantic, time-series and blob data at petabyte scale and has
the compliance and security features for
regulatory and enterprise operations
DIGITAL BRAND PROTECTION1
6
Brand and Revenue Protection
WISeKey safeguards against counterfeit products that rob revenues, diminish brand value and push consumers to the competition
Brand / Consumer Engagement
WISeKey solution delivers unlimited options for engagement, marketing and data acquisition to drive loyalty, next-time buys and create a fluid brand experience
Device Security
Not everything requires a consumer tap, but WISeKey delivers consumer confidence in relationship certainty, like printer/cartridge, power tool/battery, game station/controller
Brand ProtectionSecure NFCConsumer
EngagementUnparalleled NFC security
• Unilateral and Mutual Authentication with proprietary symmetric cryptographic algorithm
• Dynamic Signature over NDEF
• 64-bit secret key, 32-bit challenge, 32-bit response
• Unique 64-bit chip serial number
• Tamper detection• Opening Detection• Secure provisioning• Long range NFC
communication
Leverages your NFC enabled product and its’
product journey to directly engage consumers with
endless options to empower consumer
directed marketing, data acquisition, rewards, and a
personalized consumer experience
A digital identity for every item which enables
tracking and authentication throughout
the item’s lifecycle. This UID will be securely
encoded into the secure NFC tag
GROWTH STRATEGY
Well positioned WISeKey to address many global market verticals
17
Several growth avenues
Large addressable markets
Global client footprint
A complete suite of Digital Identity products
18
CUSTOMER & MARKET VERTICAL EXAMPLES
Energy and Smart Cities
Connected Cars
Luxury BrandsNetworking and Consumer
Medical Devices / Health Industrial / IT
CUSTOMERS BY GEOGRAPHY
Europe45%
North America43%
Asia Pacific11%
South America1%
Traditional business:Established in Europe; expanding into new geographies
Recent activities:Expanding in the US with OpSec partnership; India and Saudi Arabia are coming up to speed
Growth avenues:Global brand protection, European expansion, North American and LATAM
19
FY 2019 Breakdown
GLOBAL EXPANSION
United States:
• Expanding the team and seasoned Executive has joined our Leadership Team as CRO
• Securing the communication systems for Allscripts, US leader in healthcare information technology solutions
• Partnership with OpSec Security IoT leader for fully integrated Brand Protection and Authentic Consumer Engagement solutions
Europe:
• Securing digid cantisense™ SARS-CoV-2 test for German health tech company Digital Diagnostics AG
• WISeKey and iStorage combining to secure digital environments for remote work
• Parrot leveraging WISeKey security solutions for the ultra-secure ANAFI drones
• Perpetual license agreement with Daimler AG (German multinational automotive corporation) for parts of its ISTANA PKI platform
Middle East:
• Securing Ensurity’s PasswordlessAccess to Microsoft Windows & Azure AD
• Established WISeKey Arabia, a JV with Saudi Advanced Technologies Company Ltd
China:
• Its RoT was accredited by 360 Security Browser, the leading internet browser solution in China, to provide Trusted SSL services
20
THREE-FOLD GROWTH BLUEPRINT2
1
Driving the Digital Transformation
Organic Growth1
Investing in embedded technology to stay at the market forefront• NanoSeal• VaulitIC for secure
radios• Drone solutions• Foresight• WISeID• WISeShelter• WISeTravel
Joint Ventures2
Expanding the ecosystem and opening adjacent technology and geographic markets• Artificial Intelligence
with arago• India JV• Saudi Arabia JV
Acquisitions3
Expanding portfolio through acquisitions focused on:• Technology
advancements• Market relevance• Integrated futures• Supporting the
vertical integration of IoT solutions
22
MANAGEMENT TEAM
Board of Directors
Eric PellatonPreviously CEO & ChairmanIsmeca, Inc.
Carlos Moreira Chairman & CEO,WISeKey
Philippe DoubrePresident and Secretary General, World Trade Center Geneva
Peter WardChief Financial Officer,WISeKey
David FergussonPresident & Co-CEO,The M&A Advisor
Jean-Philippe LadisaPartner & DirectorFiduciaire Wuarin & Chatton SA
▪ Recognized early-
stage pioneer in the
field of digital identity
▪ Chair World Economic
Forum Global Agenda
on Internet
▪ Founder of WISeKeyCarlos Moreira
Chairman & CEO
▪ Chartered management
accountant
▪ Significant international
experience in the IT,
FMCG, medical
equipment, plastics and
BioTech industries
▪ Joined WISeKey in 2008Peter Ward
CFO
▪ Proven growth engine
▪ Global executive
experience in
telecommunications,
mobility, brand
protection and
cybersecurity
▪ Joined WISeKey in 2020Ben Stump
Chief Revenue Officer
KEY FINANCIALS
23
STRONG CASH POSITION2
4
$9.6 $9.1$12.1
$15.4$0.6
$4.5
$2.7*
$9.6 $9.7
$16.6$18.1
0
2
4
6
8
10
12
14
16
18
31-Dec-17 31-Dec-18 31-Dec-19 30-Jun-20
Cash & cash equivalent and restricted cash($ in Million)
Cash Restricted cash Total* $2.7M restricted cash to be released in January 2021
25
2019 KEY FIGURES
• Listed its ADRs on the NASDAQ
• $6.4M R&D investment
• $22.7M revenue
• $8.2M net income, with a $31.1M gain on disposal of a business
• $0.23 EPS
INVESTMENT CONSIDERATIONS2
6
Serving the RAPIDLY-GROWING IoT cybersecurity and digital brand protection markets
UNIQUE CHIP-TO-AI-CLOUD PLATFORM simplifies connected objects, decisions and security
Core technology has HORIZONTAL ADOPTION across a wide range of industries
LARGE installed base of REPEAT & LONG-TERM blue-chip customers
Digital transformation (AI + IoT = AIoT) is increasing cybersecurity spending in every sector
SOLID FINANCIAL POSITION; Unique Trust Model and THREE-FOLD GROWTH STRATEGY
Lena CatiVice PresidentThe Equity Group, Inc.Email: [email protected] : +1 212 836 9611
Investor Relations
CONTACT US
27
APPENDIX
28
WISeKey International Holding share structure
29
Class A Shares
CHF 0.01 par value
1 share = 1 vote
40,021,988 issued*
Not listed
Class B Shares
CHF 0.05 par value
1 share = 1 vote
28,824,086 issued*
Listed on the SIX Swiss Stock Exchange
ADR listed on NASDAQ 1:5 Ratio
* Per register of Commerce as at 30 December 2020
2019 Financials 3
0
GAAP Consolidated Statement of Income / (Loss) 12 months ended
December 31, USD'000 2019
Net sales 22,652 Cost of sales (13,196)
Gross profit 9,456 Other operating income 180 Research & development expenses (6,422) Selling & marketing expenses (7,929) General & administrative expenses (15,789)
Total operating expenses (29,960)
Operating loss (20,504)
Non-operating income 1,918 Gain on derivative liability 214 Loss on debt extinguishment (233) Interest and amortization of debt discount (742) Non-operating expenses (3,670)
Loss before income tax expense (23,017) Expense/recovery (13)
Loss from continuing operations (23,030)
Income (loss) on discontinued operations 30,484
Net income / (loss) 7,454