IT PRESS TOUR February 9, 2022

PRESENTERS CEO FUNGIBLE ERIC HAYES BRIAN MCCLOSKEY CHIEF REVENUE OFFICER FUNGIBLE DIRECTOR OF PRODUCT MANAGEMENT FUNGIBLE REESE LLOYD

AGENDA 01 02 03 Corporate Overview Cloudify Your On-Premises Data Storage Fungible Storage Cluster (FSC) 4.0 04 05 06 Fungible Business Momentum Summary Q&A

CORPORATE OVERVIEW Eric Hayes, CEO

Our Mission Fungible aims to effectively cloudify all of the world's data centers by utilizing the Fungible DPUTM to connect CPUs, GPUs, and all-flash arrays via Ethernet. FUNGIBLE DEMOCRATIZES DATA CENTER CLOUDIFICATION

FOUNDED Founded in 2015 to revolutionize the agility, security, performance, reliability, and economics of all Cloud Data Centers INTELLECTUAL PROPERTY We developed silicon, software, systems, and solutions with over 60 patents, many of which are fundamental and ground- breaking TECHNOLOGY The Fungible DPU™ is a new class of microprocessor that powers our software, systems, and solutions PEOPLE World class, experienced team with deep expertise in silicon, software & systems across compute, network & storage THE DATA-CENTRIC ERA Fungible Invented the DPU ERIC HAYES CEO BERTRAND SERLET Co-Founder, COO PRADEEP SINDHU Co-Founder, CDO TOP-TIER INVESTORS

DATA-CENTRIC TRANSFORMATIONS > 20x faster than CPUs or GPUs EFFICIENT POOLING OF RESOURCES AT SCALE ROBUST SECURITY FOR APPLICATIONS & DATA BIG-FAST DATA REQUIRES SCALE-OUT INFRASTRUCTURE Fungible DPU™ Enables Data-Centric Cloudification IP / ETHERNET Evolved for 50 years $20B TAM FLASH MEMORY GPU CPU Evolved for 30 years $10B TAM Disruptive Speed / Density $30B TAM DPU DPU Endpoints Require Unique Data Transformations DPU

SOLUTIONS FUNGIBLE PROVIDES A COMPLETE SOLUTION From Silicon to “Bare-Metal” Virtual Data Center Composition Software Scale-Out Storage Applications Bare Metal Virtual Data Center Composition Software Scale-Out Card Applications DPU Controller Software SYSTEMS INFRASTRUCTURE SOFTWARE Virtualization Data Path Network Data Path Security Data Path Storage Data Path AI/ML Data Path Embedded Control Plane Software + Host Drivers & Agents OPERATING SYSTEM FunOS FUNGIBLE DPU SILICON

WHY COMPOSABLE INFRASTRUCTURE? Composable promises efficient use of physical resources and enables rapid configuration of customized bare metal server and storage configurations. Innovation Insight: Understand the Hype, Hope and Reality of Composable Infrastructure, January 5, 2022

WHY COMPOSABLE INFRASTRUCTURE? It has the potential to completely overhaul a decades-old monolithic systems architecture, which cannot scale in the digital era that is upon us. Composable Infrastructure Market $4.8B by 2025 at 28.2% CAGR Worldwide Composable Infrastructure Forecast, 2021–2025

WORLDWIDE CONVERGED SYSTEMS REVENUE By Key Segment, 2016-2025 Fungible Supports HCI and CDI Source: IDC, 2021 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Integrated Infrastructure (systems and platforms) Hyperconverged Infrastructure Composable Infrastructure

Diversification of workloads Exponential growth of data Organizations need faster response times Legacy technologies are plateauing INFRASTRUCTURE CHALLENGES

PROCESS DATA IN A SIMPLE AND TIMELY MANNER Lost time is never found. Benjamin Franklin

CLOUDIFY YOUR ON- PREMISES DATA STORAGE Reese Lloyd, Director of Product Management

THE ELASTIC BLOCK STORAGE CHALLENGE The Cloud Ideal • Workload tuned storage • Manual or automated control • Single, elastic system • Coordinated growth The Non-Fungible Reality • Silos • Control plane sprawl • Islands • Disjoint growth ELASTIC BLOCK STORAGE ISLAND ISLAND ISLAND ISLAND

Resource Efficiency • Greater resource utilization per dollar spent • Optimized allocation of resources per volume for greatest efficiency • Reduces hardware required to run application by moving data services off CPU Consistent Performance • Consistent performance ensured by QoS across mixed workloads • Leverage NVMe/TCP – bypass protocol conversions • Performance increases linearly as system scales Cloud-Like Agility • Leverage the API and plug-ins to simplify provisioning and allocation • Eliminates the need for administrators to best fit multiple workload demands • Flexible deployment depending on workload demands Workload-Centric Data Services • Define performance, capacity, and data services per volume with the benefits of centralized storage • Flexible durability using erasure coding or raw volumes • Real-time compression and encryption Elastic Scalability • Scale out architecture delivers linear scalability in performance and capacity • The bigger the cluster, the better the performance • The bigger the cluster, the better the efficiency BENEFITS

FUNGIBLE STORAGE CLUSTER High Performance, Scale Out, and Fully Featured NVMe/TCP Block Storage 13M IOPS / Node 75 GB/s / Node 100 µs 3 Nodes → Data Center 70 TB → Petabytes Compression, Thin Provisioning, Snapshots, Clones, QoS Encryption, Fault Domains Erasure Coding, Replicated & Raw Linear Scale HIGH PERFORMANCE SCALE OUT FULL FEATURED

NVME/TCP STANDARD ENABLES NEXT-GEN STORAGE * Source: Dell Release *2.5 to 3.5 times more IOPS *Reduces latency by up to 75% *Cuts CPU load per I/O in half over iSCSI 01 02 03

POWERED BY THE FUNGIBLE DPUTM A New Class of Microprocessor Purpose-Built for the Data-Centric Era – The 3rd Socket In Data Centers General-Purpose Vector Floating Point CPU Fungible DPU Data-Centric GPU Enables 10x more efficient execution of data-centric tasks Implements an endpoint for a more efficient data center network The Fungible DPU is a new class of programmable microprocessor that: Stateful, multiplexed processing of high bandwidth data streams • Many multi-threaded cores • Hardware accelerators for crypto, compression, erasure coding, etc. • Native TCP offload

FUNGIBLE FS1600 UNDER THE HOOD 12 x NVMe SSD HOT-PLUGGABLE NVMe SSD ONBOARD 6 x 100 Gbps ETHERNET ONBOARD 6 x 100 Gbps ETHERNET 12 x NVMe SSD HOT-PLUGGABLE NVMe SSD REDUNDANT POWER SUPPLY UNIT REDUNDANT POWER SUPPLY UNIT RDIMM NVDIMM FUNGIBLE DPU

EVERY WORKLOAD – CONSOLIDATED ELASTIC, WORKLOAD-CENTRIC BLOCK STORAGE Cinder Driver OpenStack Virtualization CSI Plug-in Containers Bare Metal

MANAGABILITY 22 Interfaces • OpenStack Cinder • CSI Plug-in • REST Intent API • Composer GUI Platform Management • Self-Healing • Autonomous Management • Alerts and Events • Robust Telemetry Take the complexity out of managing storage resources Simplify scalability by transparently increasing capacity and performance as needed Experience cloud-like flexibility in provisioning, consuming, and reallocation of resources

Allocate storage and data services based on workload requirement per volume Allow FSC to automatically allocate resources for optimal utilization, applying optimization techniques to gain efficiency Storage becomes a consumption-based service inside the data center Capacity: 500GB Perf: 10K IOPS DP: Encryption 8+2 EC Compression Enterprise Apps Capacity: 8TB Perf: 2M IOPS DP: Raw Volume AI/ML Capacity: 2TB Perf: 500K IOPS DP: Encryption RF2 Snapshots Database VOLUME 1 VOLUME 2 VOLUME 3 WORKLOAD-CENTRIC DATA SERVICES

Bring cloud-like agility to your datacenter. FSC allows each volume to be composed with storage and data services required by the workload. Achieve greater efficiency with 60% reduction in power draw, effective durability and security without CPU overhead, and high performance for every dollar spent. Realize the benefits of economies of scale without sacrificing economies of scope. Eliminate the complexity of managing storage in a dynamic environment with Fungible Composer software that uses Intent API to determine most optimal ways of provisioning resources. Use industry standard plug-ins and APIs for tighter application/storage integration. CLOUDIFY WITH FUNGIBLE STORAGE CLUSTER

FUNGIBLE STORAGE CLUSTER (FSC) 4.0

FUNGIBLE STORAGE INITIATOR FOR FSC • Hardware NVMe / TCP initiator + Basic NIC • Built on Fungible S1 DPU • Managed by Fungible Composer • Volumes appear as local NVMe devices • Benefits • Standards compliant NVMe/TCP up to 200GE • Server CPU offload • Expand OS compatibility • Host-side In-line Compression* • Host-side In-line Encryption* Hardware Initiator via FAC Software Initiator Native NVMe/TCP Ethernet Fabric * Roadmap

FUNGIBLE ACCELERATOR CARDS High Performance and Flexible Fungible DPU™ Based Accelerator Products DPU Accelerated Storage, Network, and Security Services Up to 200GbE 2+ M IOPS, 35+ Mpps ONE PLATFORM TO ADDRESS ALL INFRASTRUCTURE SERVICES PERFORMANCE FORM FACTOR FEATURES Full Height Half Length <45W PCIe Gen 4 FC200 – 2 x 100GbE FC50 – 2 x 25GbE

A TALE OF TWO RECORDS *Based on Retail Price AMD EPYC 7763 64-Core CPU Single Server to Single Fungible Storage Node 10M Read IOPS @4k 75% Reduction in CPU Utilization World Record Performance for Storage 96 Cores Saved 53% Increased Performance $13000 Cost Savings* Nikhef, SURF And Fungible Set New Benchmark For The World’s Fastest Storage Performance Companies Double Current Performance Record, Setting The New Bar At 6.55M Read IOPs San Diego Supercomputer Center And Fungible Achieve Record-breaking Storage Performance The Teams Deliver 10M IOPs Performance From Single Server To A Single Storage System

EFFICIENCY AND DURABILITY THAT SCALES FSC COMPETITOR • 2+1 EC • 200TB Usable • Single Failure • Double Replicated • 150TB Usable • Single Failure • 4+2 EC • 400TB Usable • Double Failure • Double Replicated • 300TB Usable • Single Failure • Triple Replicated • 200TB Usable • Double Failure • 8+2 EC • 800TB Usable • Double Failure • Double Replicated • 500TB Usable • Single Failure • Triple Replicated • 333TB Usable • Double Failure 3 Nodes – 300TB Raw 6 Nodes – 600TB Raw 10 Nodes – 1000TB Raw • Triple Replicated • 100TB Usable • Double Failure

EC 2+1 – START SMALL, GROW HUGE D P D D D P D D D P D P … … … Start with 3 nodes Better efficiency than double replicated with the same fault protection Same performance as higher EC schemes (~3M IOPS/node) Supports all other data services

APPLICATIONS CHANGED, STORAGE DIDN’T Application- level replication Failure domains Ephemeral workloads Wasted storage space! Raw volumes and DAS help, but what about data services?

RF1 VOLUMES – DATA SERVICES WITH ONLY ONE REPLICA * Roadmap Stored Data Compression Thin Provisioning Single data replica Compression and other data services* More efficient than raw and extremely high performance Ideal for workloads that don’t need storage level durability

FUNGIBLE SALES MOMENTUM Brian McCloskey, Chief Revenue Officer

SOLUTIONS FUNGIBLE PROVIDES A COMPLETE STACK From Silicon to “Bare-Metal” Virtual Data Center Composition Software Scale-Out Storage Applications Bare Metal Virtual Data Center Composition Software Scale-Out Card Applications DPU Controller Software SYSTEMS INFRASTRUCTURE SOFTWARE Virtualization Data Path Network Data Path Security Data Path Storage Data Path AI/ML Data Path Embedded Control Plane Software + Host Drivers & Agents OPERATING SYSTEM FunOS FUNGIBLE DPU SILICON

FUNGIBLE’S 5 PILLARS EFFICIENCY AGILITY PERFORMANCE PROTECTION MANAGEABILITY

BUSINESS MOMENTUM Field coverage established in US, Europe, APJ, and India Customers include Hyperscalers, Service Providers, e-Retailers, CDNs, Telcos, and US Government entities FunPX Global Channel Program established Targeting sales investments on large scale prospects

TARGET CUSTOMERS SOLUTIONS & SYSTEMS SILICON eCommerce and SaaS providers Hyperscalers OEMs Telcos & CDNs Managed Service Providers Large Enterprises who will benefit from cloudifying their infrastructures Government Entities

INDUSTRY RECOGNITION NOV 10, 2020 DEC 3, 2020 JUNE 7, 2021 JAN 31, 2022 OCT 23, 2020 DEC 3, 2020 MAR 29, 2021 DEC 1, 2021 2020 FEB 25, 2021 JUNE 16, 2021 2020 MAR 17, 2021 NOV 23, 2021 Best Upstart of the year Recognized for the Fungible DPU™ and TrueFabric™ Most Innovative Hyperscaler Implementation… Best of Show Recognized for Fungible Storage Cluster The 10 Hottest Data Storage Startups of 2020 The 10 Hottest Semiconductor Startups of 2020 Cloud Storage Innovation of the Year Digital Transformation Company of the Year CRN Tech 10: Startups Standing Out With New Ways To Look At Storage CRN The Data Center 50 CRN 10 Hottest Semiconductor Companies To Watch In 2021 AWARDS The 10 Hottest Semiconductor Startups Of 2021 (So Far) AWARDS The 10 Hottest Semiconductor Startups Of 2021 (So Far) CRN The 10 Hottest Semiconductor Startup Companies Of 2021 Best in Biz Awards 2021, Most Innovative Company of the Year Small Category, Bronze Winner Gems 2022 Gems 2022: Company to watch for vision, product development, and execution with a focus on technology and product innovations 2020 2021 2022

WHAT’S NEXT – CAPITALIZING ON OUR LEAD Significant wins in all target segments Increased investment in GTM resources to support growth opportunity Innovative commercial models and channel programs 01 02 03

SUMMARY

Q&A

THANK YOU! gg [email protected] | www.fungible.com CEO FUNGIBLE ERIC HAYES BRIAN MCCLOSKEY CHIEF REVENUE OFFICER FUNGIBLE DIRECTOR OF PRODUCT MANAGEMENT FUNGIBLE REESE LLOYD

Back-Up Slides

CUSTOMER VALIDATION "The Fungible solution has set a new bar for storage performance in our environment. The results are potentially transformational for large-scale scientific cyberinfrastructure." John Graham, Sr. Development Engineer, SDSC "The performance, QOS, and compression capabilities of Fungible's NVMe/TCP storage platform made it a clear choice to be a key foundational component of our next generation infrastructure design." Sr. Director, Core Infrastructure “The co-design of software and hardware to support data services and data analysis is integral to meeting our efficiency targets and advancing our national security mission.” Brad Settlemyer, Sr. Scientist, LANL HPC Design Group “Fungible's host initiator and storage cluster offer our customers the performance of locally attached NVMe combined with the operational efficiency and capacity optimization of centralized storage.” Jacob Farmer, CTO LARGE E-RETAILER