IonQ (IONQ) investor relations material

Deal rationale and strategic fit

• Creates the only fully vertically integrated, full-stack U.S.-based quantum platform, spanning computing, networking, sensing, and security, and accelerating innovation cycles.

• Combines advanced quantum technology with secure, onshore, accredited semiconductor manufacturing, supporting national security and sovereign supply chains.

• Accelerates the roadmap to fault-tolerant quantum computing by embedding secure access to a trusted foundry and enabling rapid, parallel development.

• Supports mission-critical applications for business, government, and society, enhancing U.S. and allied leadership in quantum technology.

• Combines highly talented engineering teams to advance innovation and broaden reach across industries.

Financial terms and conditions

• Transaction valued at $1.8 billion, with SkyWater shareholders receiving $15.00 in cash and $20.00 in stock per share, subject to a collar based on the 20-day volume weighted average price of the acquirer's stock before closing.

• Purchase price represents a 38% premium to SkyWater's 30-day volume-weighted average price as of January 23, 2026.

• SkyWater shareholders will own between 4.4% and 6.7% of the combined company.

• SkyWater will operate as a wholly-owned subsidiary, maintaining its merchant supplier business.

Synergies and expected cost savings

• Reduces chip development and iteration cycle times, e.g., 256-qubit chip from nine months to two months.

• Enables parallel R&D wafer spins, increasing innovation velocity and frequency.

• Expected to pull forward the 2 million-qubit chip timeline by up to a year and achieve industry-leading costs at scale.

• Minimizes unit economics and achieves best-in-class cost per physical qubit.

• Creates an end-to-end U.S. quantum supply chain, enhancing security and scalability.