Weebit Nano (WBT) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with a quorum and notice of meeting taken as read, outlining business and resolutions to be considered.

• Hybrid format enabled both in-person and virtual attendance, with voting conducted by poll and instructions provided for all participants.

• AGM focused on progress from early adoption to volume deployment of next-generation non-volatile memory (NVM) technology, with updates from the chairman and CEO.

• Agenda included addresses from the Chair, Deputy Chair, CEO, and CFO, followed by Q&A and formal business.

Financial performance review

• Revenue grew from $153,000 in H1 2024 to $4.4 million in FY25, totaling $5.4 million over two years, reflecting a 24x increase.

• Record $7.3 million cash receipt in September/Q1 FY26, mainly from milestone-based payments and R&D tax rebates.

• Ended September with over $90 million in cash, supporting ongoing R&D and commercial expansion.

• Revenue recognition is milestone-based, leading to expected quarterly fluctuations until royalty streams ramp up.

• Revenue growth expected to continue, driven by new licensing and design agreements.

Board and executive committee updates

• Anne Templeman-Jones joined as independent Non-Executive Director and Deputy Chair, also chairing the Governance Committee.

• Board composition and governance processes reviewed annually, with ongoing consideration for additional independent directors.

• Leadership team includes experienced executives and a diverse board, with ongoing scaling of personnel and infrastructure.

• Board acknowledged shareholder feedback on remuneration and committed to greater clarity and improved reporting.