|Investor Presentation Nov 2018

This document contains forward-looking statements. The words “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” “expect” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements. Forward-looking statements may address the following subjects among others: the status of filter designs under development, the prospects for licensing filter designs upon completion of development, plans for other filter designs not currently in development, potential customers for our designs, the timing and amount of future royalty streams, the expected duration of our capital resources, our hiring plans, the impact of our designs on the mobile device market, and our business strategy. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: our limited operating history; our ability to complete designs that meet customer specifications; the ability of our customers (or their manufacturers) to fabricate our designs in commercial quantities; the ability of our customers to sell products incorporating our designs to OEMs; our dependence on a small number of customers; the ability of our designs to significantly lower costs as compared to other designs and solutions; the risk that the intense competition and rapid technological change in our industry renders our designs less useful or obsolete; our ability to find, recruit and retain the highly skilled personnel required for our design process in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Annual Report (Form 10-K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this document, and we expressly disclaim any obligation or undertaking to update forward-looking statements.

We may refer to information regarding potential markets for products and other industry data. We believe that all such information has been obtained from reliable sources that are customarily relied upon by companies in our industry. However, we have not independently verified any such information.

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SAFE HARBOR STATEMENT

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The RF Front- End (RFFE) plays a critical role in ensuring voice and data calls are routed correctly

Resonant is transforming the way RFFEs are Designed and Delivered

How does your mobile device know how to connect your voice and data calls to you?

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WHO WE ARE

Fundamental Value: Tools, Team, Technology

Business Model: Licensing-Per Unit Royalty

Market Size / Growth: $ 9B / 21% CAGR

Customers: 10 customers

Market Validation: 60+ devices under contract

ISN® Foundry Program: Transforms the RFFE supply chain• Foundry partners: 4• Packaging partners: 3• Fabless customers: 50%

Founded: May 2012

IPO: May 2014

Employees: 60+ employees

IP: 150+ pending & issued patents

Cash: $26.4M as of September 30, 2018

Corporate OverviewCompelling Story

Goleta, Calif.Burlingame, Calif.

Austin, Texas

Neuchâtel, Switzerland

Seoul, Korea(liaison office)

Shanghai, China(sales partners)

Sources: Yole Developpement, Navian

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MARKET OPPORTUNITY

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FILTERS: THE MAIN DRIVER OF GROWTH OF THE RF FRONT END

Filter market is the fastest growing market in RFFE• 21% CAGR• >$27B in 2025

Next generation Smartphone projected to include $29.31 RF content

Sources: Yole Developpement, Navian, Barclays, Management Estimates

$22.31Advanced

4G

$16.25Premium

4G

$7.25Performance

4G

20252007 Increasing Value of RF Content | Higher RF Content Driving TAM Growth

5-8 15-20 30-35 50-70 80-90 90-100 >100Increasing number of RF filters per phone *Management estimates

2-4 TBD

$29.31Future

4G

>$38.005G

Sub 6GHz MIMO

5G

mmWave5G

2018

$ 4B

$ 9B

$ 40B

$ 28B

RFFE MARKET

$ 9B

$ 16B

$3.25Value 2G/3G

$0.80Legacy 2G/3G

FILTER MARKET

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Ten customers with 60+ complex filters, duplexers and quadplexersunder contracted development supporting customer sockets

EXPANDING THE MOBILE FILTER TARGET MARKET

HiSiliconIntelMediaTekSamsungSpreadtrumQualcomm

ChilisinMicrogateWalsin

RFIC Company Module ManufacturerFabless ModelAirohaCanaanTekEtraHiSilicon/HuaweiHuntersunLansus

Innotek/LGMicrogateRDASmarterMicroSemco/SamsungVanChip

RF Passive Manufacturer

Reference Design

VerizonAT&TT-MobileSprintDocomoSK TelecomSoftbankChina MobileKDDI

Advance Dev./IP Licensing

Handset OEMAppleSamsungCoolPad (Yuloong)HTCHuaweiLenovoLGMotorolaNokiaOppoSony MobileTCL (Alcatel)VivoXiaomiZTE

Carriers

Filter ManufacturerVertically Integrated Manufacturers Avago

KyoceraMurataQorvo

RF360San’anSAWNICSSkyworks

Taiyo-YudenWisol

AvagoMurataSkyworks

Module ManufacturerQorvoWisol

TAISAWTowerTSMCWavetek/UMCWINSemi

EnicomTAISAWTong Hsing

Non-Captive FoundryFoundry & Packaging Enicom

GlobalNDKNJRCSAWNICSShoulder

Non-Captive Packaging

50%

50%

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ISN® FOUNDRY PROGRAM

Current Foundry Partners

Current Packaging / Backend Partners

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TOTAL ADDRESSABLE MARKET

• 5G/IoT• Medical• Automotive• Industrial• Military

5G

Source: Mobile Experts LLC, Navian and Company Estimates

• Low value Mobile

• High Value Mobile Filters17Bu - $4.7B

31Bu - $3.4B

~10Bu

$10B

$20B

$30B

RESO

NA

NT

AVA

ILA

BLE

MA

RKET

FO

R FI

LTER

S

2017T I M E

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COMPLEX RF FILTERS - KEY TO REALIZING 5G WIRELESS DATA-RATES

FILTERS

Band 2

Band 10

Band 3

Carrier aggregation

Carrier aggregation

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XBAR™ - Resonant’s new cutting-edge bulk acoustic wave (BAW) resonator technologyideally suited for 5G applications

RESONANT INTRODUCES XBAR™

Sources: Yole Developpement

Resonant’s roadmap is focused on the inclusion of higher frequency BAW and FBAR solutions to ensure participation in the demand created by 5G.

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INFINITE SYNTHESIZED NETWORKS (ISN®)

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TOOLS - ISN®: NEXT GENERATION DESIGN PLATFORM

DESIGN INTEGRATION

DESIGN OPTIMIZATION SIMULATION

SYNTHESIS

CURRENT FILTER DESIGN UTILIZED BY MOST MANUFACTURERS

RESONANTFundamental | Rigorous | Scalable | Defendable

Image DesignAcoustic Wave

Ladder

Modern FilterTheory

Coupling of ModesModel | COM

Empirical Optimization& Simulation

Aggregated Physical PropertiesVelocity of Surface Waves

Reflectivity of Surface Waves

Acoustic WaveNetwork Synthesis

RF Circuit Models Optimization

Fundamental Physical Models Simulation

RF CircuitsInductance | Voltage

RF Circuit Integration

Fundamental Physical Properties

Density | DimensionsFab Integration1900s 1950s 2000s

Value• Faster development• Lower cost

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ISN®: FUNDAMENTAL AND COMPLETE FILTER DESIGN SUITE

Filter Circuit Design Optimization

Specifications

ProcessParameters

105 Patents

Chip LayoutPhysical Design

8 Patents

Package /Module LayoutPhysical Design

Filter Chip Design OptimizationComputer Aided EngineeringSynthesisSimulationOptimizationFinite Element Model

24 Patents GVR Acquisition

Integrated Filter Design OptimizationComputer Aided EngineeringSynthesisSimulationOptimizationFinite Element Model

15 Patents

MaskGeneration

MeasuredData

Yield PredictionCompliance Matrix

Temperature Behavior

Note: Patents issued and pending

Data Analysis & VerificationAdd External ComponentsCompare

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ISN®: EXPANDING INTO NEW TECHNOLOGIES

ROADMAP OF FULLY INTEGRATED SAAS-BASED INFINITE SYNTHESIZED NETWORK

SAW

FEMSAW / PMTx™Software Enhancements

Power Durability / IsolationIP Blocks

BAW

Layers IISoftware Enhancements

XBAR™IP Blocks

2012 2017 2018 2019 2020 2021

TC-SAW Multi-Layer

Layers / PMTx™Software Enhancements

ODSR (Optimized Design Space Resonator)IP Blocks

TC-SAW Bonded Wafer

FEMSAW / LayersSoftware Enhancements

Plate Mode Engineered DeviceIP Blocks

2016

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ISN®: EXPANDING INTO NEW TECHNOLOGIES

FBAR Film Bulk Acoustic ResonatorsAcoustic wave propagates in a vertical direction

SAW Surface Acoustic WaveAcoustic wave propagates in a lateral direction

Surface Acoustic Wave

Metal lines

Interdigital Transducer

Piezoelectric substrate (LiTaO3 , …)

Electrical Port

TC-SAW Temperature-Compensated SAWAcoustic wave propagates in a lateral direction

Si3N4 PassivationSiO2 Temperature Compensation

ElectrodesPiezoelectric Substrate

BAW Bulk Acoustic WaveAcoustic wave propagates in a vertical direction

Bottom electrode

Thin-film piezolayer

Top electrode

Stress field of acoustic wave

Si -substrate

Bottom cavity

Support layer

Best performance requires precise process control and improved design

4G 4G

More expensive Most expensive

Bottom electrode

Thin-film piezolayer

Top electrode Stress field of

acoustic wave

SubstrateAcoustic reflector

2µm thick @ 2 GHz

COST

PROCESS STEPS

PERFORMANCE

APPLICATIONS

Performance less than FBAR Currently, best performanceImproves temperature stability

4G & 5G 4G & 5G

Simple, low cost Relatively low cost process

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ISN®: EXPANDING INTO NEW TECHNOLOGIES

SAW Surface Acoustic WaveAcoustic wave propagates in a lateral direction

Surface Acoustic Wave

Metal lines

Interdigital Transducer

Piezoelectric substrate (LiTaO3 , …)

Electrical Port

TC-SAW Temperature-Compensated SAWAcoustic wave propagates in a lateral direction

Si3N4 PassivationSiO2 Temperature Compensation

ElectrodesPiezoelectric Substrate

BAW – XBAR™Bulk Acoustic WaveAcoustic wave propagates in a vertical direction

Best performance requires precise process control and improved design

4G 4GCOST

PROCESS STEPS

PERFORMANCE

APPLICATIONS

Best in class performanceImproves temperature stability

4G & 5G

Simple, low cost Relatively low cost process Leverages standard industry process

Thin piezolayer

Electrodes

SiO2

Si -substrate

Air Gap

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RESONANT TRANSFORMS THE RF FILTER MARKET

Market Dynamics• Increasing Number of Bands• Increasingly Complex• Lack of Design Resources

Market Needs• Design Efficiency• Lower Cost Process• Faster Time to Market

Resonant Provides• Design Precision• Complex High frequency designs in

SAW & TC-SAW• Increased GM

Expansion Phase (Today)Multiple Market SegmentsMultiple Complex Designs

Validation Phase (2017)Technology ValidationMultiple Designs

Transformative Phase (2015-2016)Technology DevelopmentSingle Design

B4

B3

B1GPS

B8

B6

B20B26B13

B2

B40B42

B43

B41

B41(NB)

B7B22

GSM Rx

B3

B1GPS

B8

B6

B20B26B13

B2

B40B42

B43

B41

B41(NB)

B7B22

GSM Rx

B4

B3

B1GPS

B8

B6

B20B26B13

B2

B40B42

B43

B41

B41(NB)

B7B22

GSM Rx

B4

Shortens development time Enabling high performance filters with low cost process technology

• High frequency• Complex multiplexing

Disrupting the filter supply chain, enables rapid new market entrants• Fabless model/ Foundries

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RESONANT DESIGN DISTRIBUTION

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

- 50 100 150

$ MillionsA N N U A L V O L U M E

C U

S T

O M

E R

E

N A

B L

E D

M

A R

G I

N

• ASP = $0.54• Representative designs:

QPX, WiFi Co-exist

• ASP = $0.26• Representative designs:

High volume, discrete duplexers, B2, B3

• ASP = $0.24• Representative designs:

High performance module duplexers

• ASP = $0.09• Representative designs:

High volume B1, B5, B8

= Bands Under Contract

Sources: Yole Developpement, Navian

High Growth, High Margin

High Volume High Margin Stable Growth

Strategic:High Growth, New Process, TCSAW

Representative of the sockets we have contracted

Focusing on filter designs that enable higher margins for customers

Expect at least 20 accepted by our customers and as many as 10 designs qualified by OEMs and available to ship by end of 2018

Anticipated contracted royalty rates ranging from 10% - 20%

30% - 70% success rate

Strategically engaging customers on designs with lower enabled margin to enable them to enter a new category or market

Strategic:Fabless / Foundry Model

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CUSTOMER CONTRACTS AND ANNUAL REVENUE POTENTIAL

$0

Dolla

rs (m

illio

ns)

>25Devices

Contracted

>50Devices

Contracted

~75 Devices

Contracted

Years

TODAY

700

600

500

400

300

200

100

0

2015 YE 2016 YE 2017 YE 2018 YE

Customers’ Annual Revenue Potential

$290M

$112M

$600M

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IP PORTFOLIO CONTINUES TO GROW

Six IP families protect Resonant methods and circuit designs.

METHODS CIRCUIT DESIGNS

Physical Implementation

ISN®Design Synthesis & Optimization Speed

Simulation Accuracy

Next Generation Designs & Architectures

Circuit Structure

Critical Design Requirements

>150 Pending & Issued

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COMPANY HISTORY & FINANCIALS

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2019 TO BUILD ON MOMENTUM OF CONSISTENT EXECUTION

20142013

2012

20172016

2018

2015

Resonant Founded

New TeamLeadership

Development Year• 1 Customer Engagement

• 1st White Paper on ISN®

Validation Year•Devices In Phones•First Royalty Revenues

•8 Customers under contract

•>50 Total Designs Contracted

•Grew Executive Team

Expansion Year•More Devices in Phones•Ramping Royalty Revenues

•Growth in Customer Base to a total of 10

•Vertically Integrated Customers

•Fabless Customers•Foundry Customers

•Expand our ISN® Platform•Continued Increase in Shareholder Value

Transformative Year•6 Customers under Contract

•>25 Total Designs •Contracted•Combination JDA’s & LA’s

•Acquired GVR

IPO Year• IPO•Advance ISN®

Launch Year•Seed financing

•Begin hiring, launch ISN®

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SUMMARY FINANCIAL INFORMATION

Sep 30, 2018Actual

Cash, investments & equivalents $ 26.4 M

Other current assets 0.4 M

Long-term assets 4.2 M

Total assets $ 31.0 M

Total liabilities $ 2.7 M

Stockholders’ equity 28.3 M

Total liabilities and stockholders’ equity $ 31.0 M

Shares outstanding 27.0 M

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TEAM

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EXECUTIVE TEAM

George HolmesCEO & Director

30+ years leadership in sales & marketing and

management

Neal FenziExecutive Vice

President of Engineering & Co-Founder

20+ years in engineering, operations and marketing

positions at STI; BSEE

Bob HammondCTO

& Co-founder

20+ years as Founder and CTO of STI;

Physics Ph.D. Caltech

Marty McDermutCFO

as of 11/15/18

30+ years in financial and accounting management;

CPA

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INDEPENDENT BOARD MEMBERS

Chairman &Independent

Director

John Major

Multiple board memberships

with public and private

high-tech companies

Michael Fox

Independent Director

Financial expertise in

capital markets, shareholder interests and

strategy

Janet Cooper

Independent Director

Financial expertise in

capital markets, audit, tax,

accounting, treasury and risk-

management

Jean Rankin

Independent Director

Governance, compliance,

regulatory and licensing

expertise within the

semiconductor industry

Alan Howe

Independent Director

Operational, corporate finance, business devt. and

leadership exp. Strategic in-depth knowledge of the wireless, telecom, high technology

and software industries

Jack Jacobs

Independent Director

Public company, corporate

governance and leadership

experience

Josh Jacobs

Independent Director

Extensive experience

commercializing technologies

Brett Conrad

Independent Director

Experience in building and

selling companies.

Capital markets expertise

Bob Tirva

Independent Director

Extensive corporate and

managerial finance

experience in IT & services and semiconductor

industries

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▪ Large, growing market, 21% CAGR, as the RF front-end industry undergoes dramatic increases in growth and complexity due to:

• Need for more bandwidth, especially due to initial 5G deployments• Band Proliferation• Carrier Aggregation

• Overall increases in RF Front-End complexity

▪ Resonant’s revolutionary ISN® platform expected to disrupt the RFFE supply chain and enable new entrants into the market that has been dominated by only a few large players

• Devices currently shipping have increased customers’ share of market 2x -10x their average market share • Greater efficiency that allows more designs per designer

▪ Resonant continues to retire risk through execution both internally and externally• New tools (ISN) and IP that enable rapid time to market

• ISN COMPARE™ - real time comparative analytics• XBAR™ - extending ISN into BAW• PMTx™ - validates software modules with customers

• Our business model is licensing designs on a per-unit royalty basis• Creation of a Fabless ecosystem through Resonant’s ISN Foundry Program

SUMMARY

Sources: Yole Developpement, Navian

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