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1 23 April 2015 NORTH AMERICA, ASIA AND AUSTRALIA ROADSHOW PRESENTATION Please find attached a presentation for the Company s upcoming roadshow through North America, Asia and Australia relating to the proposed BrainChip acquisition. For further enquiries: Neil Rinaldi CEO and Executive Director Level 3, Parliament Place T: West Perth WA 6005 F: PO Box 1959 West Perth WA 6872 E: admin@aziana.com.au W:

2 BrainChip The Possibilities Are Limitless

3 Disclaimer u u u u THIS PRESENTATION IS NOT A PROSPECTUS NOR AN OFFER FOR SECURITIES IN ANY JURISDICTION NOR A SECURITIES RECOMMENDATION. THE INFORMATION IN THIS PRESENTATION IS AN OVERVIEW AND DOES NOT CONTAIN ALL INFORMATION NECESSARY FOR INVESTMENT DECISIONS. IN MAKING INVESTMENT DECISIONS IN CONNECTION WITH ANY ACQUISITION OF SECURITIES, INVESTORS SHOULD RELY ON THEIR OWN EXAMINATION OF THE ASSETS AND CONSULT THEIR OWN LEGAL, BUSINESS AND/OR FINANCIAL ADVISERS. THE INFORMATION CONTAINED IN THIS PRESENTATION HAS BEEN PREPARED IN GOOD FAITH BY BRAINCHIP LLC, HOWEVER NO REPRESENTATION OR WARRANTY EXPRESSED OR IMPLIED IS MADE AS TO THE ACCURACY, CORRECTNESS, COMPLETENESS OR ADEQUACY OF ANY STATEMENTS, ESTIMATES, OPINIONS OR OTHER INFORMATION CONTAINED IN THIS PRESENTATION. TO THE MAXIMUM EXTENT PERMITTED BY LAW, BRAINCHIP LLC, ITS DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS DISCLAIM LIABILITY FOR ANY LOSS OR DAMAGE WHICH MAY BE SUFFERED BY ANY PERSON THROUGH THE USE OR RELIANCE ON ANYTHING CONTAINED IN OR OMITTED IN THIS PRESENTATION. CERTAIN INFORMATION IN THIS PRESENTATION REFERS TO THE INTENTIONS OF BRAINCHIP LLC, BUT THESE ARE NOT INTENDED TO BE FORECASTS, FORWARD LOOKING STATEMENTS OR STATEMENTS ABOUT FUTURE MATTERS FOR THE PURPOSES OF THE CORPORATIONS ACT OR ANY OTHER APPLICABLE LAW. THE OCCURRENCE OF EVENTS IN THE FUTURE ARE SUBJECT TO RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE BRAINCHIPS ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER FROM THOSE REFERRED TO IN THIS PRESENTATION. ACCORDINGLY, BRAINCHIP LLC, ITS DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS DO NOT GIVE ANY ASSURANCE OR GUARANTEE THAT THE OCCURRENCE OF THE EVENTS REFERRED TO IN THE PRESENTATION WILL ACTUALLY OCCUR AS CONTEMPLATED. 2

4 Overview BrainChip has invented technology that has the ability to learn autonomously, evolve, associate information and respond to stimuli just like a biological brain. Neural-based architecture replicates the neural behaviour of a biological brain. Lightening speed at 5000X faster than a supercomputer with 1/1000x the power consumption. The world s only autonomous learning technology, patented in Hardware-only solution, with no software to impair its performance. Validated by some of the world s pre-eminent neuroscientists. Provides a solution to a wide range of currently insolvable problems. 3

5 Post Merger Board and Management Peter Wall, Non-Executive Chairman Peter is a partner at Steinepreis Paganin specialising in mergers and acquisitions, corporate reconstruction and recapitalisations of listed entities. Mr Wall has also advised on numerous successful IPOs and back door listings on ASX. Mr Wall is Chairman of ASX listed Aziana Ltd., Galicia Energy Corporation Ltd, Minbos Resources Limited and Non Exec. Director of Dourado Resources. Robert Mitro, Executive Director Robert has been prolific in the building and sale of technology Companies. These include Vovida Networks, acquired by Cisco Systems in 2000; vcis Technology acquired by Internet Security Systems in 2002; Telverse Communications acquired by Level 3 Communications in 2003; STEP Labs acquired by Dolby Labs in 2009 and Rosum acquired by True Position in Peter AJ Van Der Made, Chief Technology Officer Neil Rinaldi, Executive Director Peter has been at the forefront of computer innovation for 40 years, during which time he has held numerous positions including Chief Scientist at IBM ISS. Technologies he has created include: - A computer immune system at vcis Technology which was ultimately acquired by IBM, and - Designed a high resolution, high speed color graphics Accelerator chip for IBM PC graphics. Wrote acclaimed book Higher Intelligence which describes the architecture of the brain from a computer science perspective. Neil joined the board of Aziana in 2013 and is the current CEO and Executive Director based in Perth. Neil spent 10 years in London and was Managing Director of Truestone Capital, a capital and corporate advisory group. Previous to this role Neil spent 5 years as a stockbroker with a leading Australian based stockbroking firm. Neil holds no other public company board positions. Anil Mankar, SVP Engineering Anil has pent 30 years developing products in the semiconductor industry and achieved a considerable number of success that include: Developed PC core Logic chipsets at Western Digital; Chief Development Officer at Conexant Systems Inc overseeing development of V92 Modem, DSL, Settop boxes, PC audio and video SoC products; Mindspeed Technologies, responsible for Wireless and VOIP infrastructure product development. 4

6 The Fundamental Industry Problem Simulation of biologically realistic neurons requires far more computing power than available in today s super-computers. The brain consists of about 86 billion neurons linked together by trillions of synapses, (event memories) making for a total of hundreds of trillions of different pathways that the brain signals travel through. That s a lot of electrical impulses shooting through the brain at once, which means lots of machine power. Computer simulation is too slow, takes up too much real estate and uses too much power. 5

7 BrainChip s Solution BrainChip recognizes the HUGE differences between computer architecture and the brain s architecture. A new device has been created that mimics the learning, association and processing techniques of the brain. The principal unit of each node is an artificial neuron, which has feedback, synaptic memory and a single output that branches out to connect thousands of synapses on other neurons. The learning algorithm is a triple-pulse Synaptic Time-Dependent Plasticity (SNAP) model, adapted to respond to the repetition and intensity of input streams. SNAP learns from usage patterns and evolves learning through experience. Like the biological brain these experiences are accumulated and stored in its knowledge library. SNAP experiences no loss of performance when executing complex tasks. Learning and training takes the place of programming and coding. Like a child learning a task for the first time. 6

8 For personal use only Hardware Only Design - Unique Benefits 7

9 A Disruptive Technology BrainChip will change the neural computing world, just like Vacuum Tubes were replaced by Integrated Circuits; Black & white TV was replaced by colour TV; and Fingerprints are being replaced by DNA. BrainChip is not an application-specific idea Robotics, Biotech/Biomed, Prostheses, Eye & Ear Implants; Security & Cyber Security, Drones & Air Transport; and Driverless Vehicles, Gaming, The Internet of Things. It is the core enabling technology to do them all and more. 8

10 Patented and Validated SNAP has been validated by pre-eminent neuroscientists. BrainChip s autonomous learning technology patent was granted on the 21st September 2008 (Patent number US 8,250,011 Autonomous learning dynamic artificial neural computing device and brain inspired system ). BrainChip is the only company in the world to have achieved autonomous learning in a network of Digital Neurons without any software. BrainChip has also applied for a continuation-in-part patent filed in 2012, the Method and System for creating Dynamic Neural Function Libraries, US Patent Application 13/461,800 which is pending. Others are spending significant capital and time trying to create what BrainChip has already invented. This represents a broad-based licensing opportunity for BrainChip. Your invention of an artificial brain chip that has the ability to learn and evolve is a remarkable advance. Nicholas C. Spitzer, Kavli Institute for Brain & Mind, Calif. 9

11 Knowledge Library Over time it will be possible to connect multiple BrainChips to form huge arrays, that could potentially exceed the capacity of the human brain. BrainChip is designed with a microprocessor interface, making it possible to read and back up knowledge. This also facilitates the creation of function or learning libraries to store BrainChip s experiences. These functions can then be knitted together to provide innate knowledge to a centralised microprocessor. BrainChip never stops learning. It continues to learn and develop increasingly complex functions. This unique capability provides a pathway for increasingly intelligent BrainChip systems. BrainChip is a technology platform that has the same architecture as a biological brain. It combines the same parallel processing capability with its learning abilities. Peter Van Der Made 10

12 Industry Leader BrainChip is a leader in the neural computing sector. The sector consists of well known companies including Apple, Cisco Systems, IBM, Intel, Google, Microsoft, nvidia, Qualcomm and Samsung. Companies in the sector are all seeking to create versions of neural (cognitive) architecture. BrainChip is uniquely positioned amongst its peers as a developer of a hardware only solution with significantly higher performance and lower power consumption. Industry alternatives run fully or partially on software solutions that need constant updates and revisions that are driven by the users changing needs, which are very expensive and time consuming. Software based solutions suffer performance degradation when executing complex tasks. If we don't recognise something we see, we will learn what it is. No super computer can do that. Peter Van Der Made 11

13 Creating Value BrainChip will create value by licensing Intellectual Property (IP) to application partners and semiconductor companies to build BrainChip-based products for their respective markets. BrainChip s partners will incorporate SNAP technology to complement and/or replace their current neural computing technologies. BrainChip will facilitate these development efforts by providing our partners with SNAP Hardware Development Kit to accelerate the design and development of their applications and products. The IP Licensing Fees will be value-based depending on the partner s application(s). A customized Non-Recurring Engineering (NRE) project fee will be based on the scope of the partner s need for assistance in research, design, development and test of their respective SNAP-based products. A Royalty Fee will be charged for every unit produced using SNAP technology. 12

14 The Possibilities Are Limitless - Applications Applications could range from the simple to the complex, and from worldwide mass markets to niche players. Examples include: Robotics; Toys & Gaming; Driverless Vehicles; Drones & Air Transport; Security & Cyber Security; Speech and Image Recognition; Biotech/Biomed/Brain Emulation; Eye & Ear Implants, Prostheses; and The Internet of Things Which includes microprocessors, sensors, mobile phones BrainChip has chosen to initially address high volume, lower risk opportunities by exploiting the technology s low power consumption capabilities. These will include smart phones & the Internet of Things. 13

15 Phase One Revenue Targets High Volume Applications Focused on early revenue across a diversified range of products. BrainChip s development work is the commercialisation of key applications prioritised after consultation and direction from significant semiconductor and technology participants. Smart Phones/ TV/ Tablets Unique voice and image identification provide absolute security, allowing the user a far greater interactive experience. Revenue from this sector is forecast within 12 months. Internet of Things (IoT) Network of objects connected via internet A growing sector with potentially enormous scale. Research estimates* 30 billion devices will be connected to IoT by 2020 and Cisco estimates the market value will be greater than US$14 trillion within 10 years. Appliances are already being sold IoT ready. SNAP carries untold potential with its partners: Over 1 billion devices powered today by Snapdragon processors** Revenue of top 3 semiconductor producers in 2014 was over $100bn Smart products sector already in the billions of $ s and has potential to grow further with the increased capabilities SNAP will enable. *ABI **Qualcomm

16 BrainChip Milestones Milestone 1 Simulating a race car demonstration in software for proof of technology by comparing BrainChip s SNAP technology to a traditional genetic learning algorithm technology. Demonstrates that the technology works, is scalable, and products can be verified using the tools that BrainChip develops. Milestone 2 Implementing a race car demonstration in hardware to visually illustrate the capacity, scalability and speed of the SNAP technology to prospective licensees. Milestone 3 Release a software API specification and RTL design solution for implementing customer Client/Server neural network applications using the SNAP hardware technology. Makes it possible for clients to develop their own solutions on top of the BrainChip hardware. Milestone 4 Execute an IP License Agreement with an upfront payment of no less than $500,

17 Summary SNAP learns autonomously, and is extremely fast, with an incomparable capacity & accuracy. Scalable to run 5000x faster than the fastest computer used for neural simulations today, with 1/1000th power consumption. Only ASX listed company with patented fully autonomous learning technology. Some of the world s pre-eminent neuroscientists have vetted the technology and are agreeing to joint develop projects. BrainChip s initial markets are high volume, low risk, and offer near term opportunities for significant income. Patents were issued in the US & Australia with more to come. Over time SNAP has the potential to become the de facto standard for all neural computing. SNAP s versatility and capability have meant that the applications and uses for the technology are only limited by imagination. BrainChip is the first to create a digital, hardware-only, autonomous learning neuron. We expect to see this in an enormous amount of applications in the coming years. Peter Van Der Made 16

18 Contact Details If you have any questions or queries please feel free to contact the people listed below: Aziana Ltd BrainChip Inc Neil Rinaldi, CEO Robert Mitro, CEO and President M: M: +1 (408) E: E: Corporate Media Andrew Jones, Corporate Advisor Ben Knowles MVP Capital Walbrook Investor Relations M: M: E: E: 17

19 APPENDIX 18

20 Validation Letter from the Kavli Institute July 3, 2014 Peter A.J. van der Made BrainChip Inc. 348 Bean Avenue Los Gatos, CA Dear Peter, Your invention of an artificial brain chip that has the ability to learn and evolve is a remarkable advance. Additionally and unlike other efforts, it operates at the speed of the brain, learns autonomously and has a low clock rate and low power consumption. Your coupling the brain chip to an artificial cochlea creates tremendous opportunities for creation of devices to assist the deaf and much more. This is exciting technology, with uses for medical instrumentation, industrial applications and scientific research. We look forward to assisting in its development and dissemination. Best regards, Nicholas C. Spitzer Ralph J. Greenspan Director, Kavli Institute for Brain and Mind Director, Center for Brain Activity Mapping, University of California, San Diego Kavli Institute for Brain and Mind Professor in Residence, Neurobiology Section/Division of Biology, and Dept. of Cognitive Sciences University of California, San Diego 19

21 For personal use only BrainChip Artificial Neuron and Biological Neuron Function 20