D-Wave Quantum Inc. (NYSE: QBTS) Technology Ready to Answer Call of Proposed Legislation for Near-Term Quantum Applications to Solve Optimization Problems

• Legislation presented to Congress calls for the United States government to develop and adopt near-term quantum computing – some within 24 months or less for developing and deploying demos, proofs of concepts, and pilots
• Global government spending on quantum application development is expected to reach $36 billion during 2023
• D-Wave offers quantum solutions to help government and public sector develop applications that can solve important optimization problems

Recent legislation presented to Congress calls for the United States government to develop and adopt near-term quantum computing applications to solve complex public sector optimization problems, which could include electrical grid resilience, optimization of ports, global supply chain issues, emergency management and response, infrastructure, and telecommunication networks.  D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services, has the technology necessary to develop these applications today for the optimization problems faced by the government and the public sector.

“The country is at a unique inflection point for U.S. quantum policy. To date, the U.S. National Quantum Strategy has not prioritized application development, but legislation before Congress has shifted that mindset,” said Dr. Alan Baratz, CEO of D-Wave (https://ibn.fm/pPYnJ). “D-Wave stands ready to collaborate with the U.S. government to build near-term quantum applications to help meet current and future public sector needs.”

The National Defense Authorization Act (“NDAA”) and the FY24 Energy and Water Appropriations bill, currently in the House of Representatives, advance policies that include developing near-term quantum applications. These represent an important shift in the government’s mindset about quantum, which had previously been focused on longer-term gate-model quantum solutions. The NDAA and Appropriation bills explicitly call for policies that include all viable quantum computing systems – including quantum annealing, gate-model, and quantum-hybrid technologies (quantum plus classical computing applications). The current legislation also includes an aggressive timeframe of 24 months or less for developing and deploying demos, proofs of concepts, and pilots.

Three other pieces of legislation regarding quantum are currently at various stages of the approval process. The Quantum Sandbox bill, presented in April 2023, calls for quantum and quantum-hybrid development and is proposed to amend the National Quantum Initiative Act to establish a public-private partnership for near-term application development and acceleration (https://ibn.fm/rV4iq). Additionally, the Wildfire Tech DEMO Act seeks quantum technology for wildfire response (https://ibn.fm/B2jCI), and the Quantum Practice Act calls for quantum technology use for modeling and simulations (https://ibn.fm/FNoQP).

All of the legislation supporting the use of quantum technology comes at a time when global government spending on quantum application development is increasing and is expected to reach $36 billion by the end of the year (https://ibn.fm/o7Rx2). Originally enacted in December 2018, the National Quantum Initiative Act is scheduled for reauthorization this year.

D-Wave, the world’s first commercial supplier of quantum computing solutions, is already providing solutions to its broad portfolio of commercial and government customers in areas such as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, fault detection, and financial modeling, using the company’s quantum annealing technology. Companies, including Volkswagen, Mastercard, Deloitte, ArcelorMittal, Siemens Healthineers, Unisys, Accenture, BBVA, NEC Corporation, Pattison Food Group Ltd., DENSO, and Lockheed Martin, are contributing to the company’s use cases through its collection of client success stories (https://ibn.fm/6HH95).

D-Wave stands ready to execute on the government’s shift to build near-term quantum applications with technology uniquely suited for solving the problems currently faced by the government and public sector’s optimization problems.

For more information, visit the company’s website at www.DWaveQuantum.com.

NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS

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