BLG: Scaling Laser Orders, Capability to Take Share March, 2023​

BLG:SCALING LASERS ORDERS, CAPABILITY TO TAKE SHARE

BluGlass Limited (ASX:BLG), March 2023

FORWARD LOOKING STATEMENT

This document has been prepared by BluGlass Limited to provide readers with an update of the Company and the Company's technology.

Any statements, opinions, technical data and information, or other material contained in this document, do not constitute commitments, representations or warranties by BluGlass Limited or associated entities, or its directors, agents and employees. Except as required by law, and only to that extent, directors, agents and employees of BluGlass Limited disclaim any loss, claim, demand, damages, costs or expenses of any nature whatsoever arising in any way out of, or in connection with, the information contained in this document.

This document includes certain information which reflects various assumptions, subjective judgment and analysis, and is subject to significant business, economic and competitive uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to, BluGlass Limited. The assumptions may not prove to be correct. Recipients of the document must make their own independent investigations, consideration and evaluations prior to making any decisions to invest in the Company.

Information on Service Addressable Markets (SAM) is based on internal BluGlass modelling and assumptions, both of which depend on successful R&D outcomes and results achieved within estimated timetables. BluGlass recommends a cautious interpretation be taken by investors.

2	BLUGLASS INVESTOR PRESENTATION, MARCH 2023

EXECUTIVE SUMMARY

Leading GaN laser	BluGlass is a leading supplier of gallium nitride (GaN) lasers to the global photonics industry. GaN laser diodes are essential semiconductor
devices used in a wide range of industries and applications, including advanced manufacturing, automotive, bio-medical devices, AR/VR
supplier
displays , quantum computing, and scientific research.
Large and growing	Global laser revenue is forecast to surpass US$25B by 2025*. Driven by growth in high-tech applications, the GaN laser diode segment is rapidly
markets with few	expanding, predicted to reach US$2.5B in the same period. BluGlass is one of just a handful of GaN laser diode suppliers globally with
competitors	significant unmet customer needs, and high barriers to market entry.	*Source: Strategies Unlimited 2020
Launched six products to	BluGlass has launched its first suite of GaN laser products to the market in Jan '23 providing a clear path to growing customer orders and
commercial revenues. Initial customer orders followed in Feb '23 after significant interest and attention at the leading industry conference,
market & first customer
Photonics West. This is just the beginning, with a raft of other products progressing through the supply chain across violet, blue, and green
orders received
wavelengths.
Unique competitive	BluGlass is establishing itself as a dedicated supplier of GaN laser products to meet significant unmet market needs and address customer
advantages to drive	demand for flexible form factors, custom products, underserved wavelengths and novel architectures. BluGlass' proprietary RPCVD technology
growth	provides unique benefits over the incumbent technology with potential to enable novel devices and increase product performance.
Substantial revenue	BluGlass' full-suite production fab increases development speed, reduces production costs and improves profit margins. The fab scales
capacity & reduced
operations, increasing annual wafer and revenue generation capability to US$170m revenue capacity.
production costs
	BLG is undertaking Capital Raise of approximately $12.9m comprising;
Capital Raise	• A Placement to raise A$10.2m ("Placement") under existing LR7.1 & LR7.1A placement capacity
• A 1-for-30non-renounceable entitlement offer to eligible shareholders on the same terms as the Placement to raise approximately $2.7m
	("Entitlement offer")
	Offer price of $0.06 per New Share.
Use of funds	• Scaling Product Delivery & Capital Expenditure		$4.4M
• R&D Financing		$2.2M
	• General Working Capital and Transaction Costs		$6.3M

3	BLUGLASS INVESTOR PRESENTATION, MARCH 2023

BLUGLASS OVERVIEW

WHO WE ARE: LEADING GaN LASER SUPPLIER

BluGlass is one of only a handful of global GaN laser suppliers, with rapidly growing demand and high-barriers to entry

BluGlass offers GaN lasers to the growing industrial,

quantum, biotech, defence, scientific and display markets

5	BLUGLASS INVESTOR PRESENTATION, MARCH 2023