|Third Quarter 2018 Financial Results Conference Call Nov 13, 2018

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THIRD QUARTER 2018 FINANCIAL RESULTS CONFERENCE CALL

George HolmesCEO & Director

Jeff KillianInterim CFO

ir.resonant.com

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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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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TEAM - NEW BOARD MEMBER: BOB TIRVA

Background:

Extensive corporate and managerial finance experience in IT & services and semiconductor industries

Bob TirvaIndependent Director

Past Affiliations:

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Areas of Focus Contracted devices Applications and customer field support Quality and reliability

Delivery of our ISN Software Platform Expansion of our IP & trade secrets

TEAM

Total Headcount Technical Staff PhDs

6546

14Technical marketing & applications

5

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TECHNOLOGY - 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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TECHNOLOGY - 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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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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TOOLS - ISN COMPARE™

ISN COMPARE™ provides real time comparative analytics to understand how the measured performance of Resonant designs compares to Resonant simulations, Resonant specifications, and competitor designs

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TOOLS - 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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RESONANT’SFILTER DEVELOPMENT(signed contract to design qualification)

DEVELOPMENT TIMELINE

RESN CUSTOMERS’ TEST & QUALIFICATION

THE HANDSET OEM’SQUALIFICATION & RAMP

can range from 9 months to >36 months (depending on the complexity of the design)

typically ranges from 3 to 6 months typically ranges from 3 to 6 months

RESN Customer Acceptance

OEM Qualification

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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 - NEW CFO: MARTY MCDERMUT

Background:

30+ years in financial and accounting management; CPA

Marty McDermutCFO as of 11/15/18

Past Affiliations:

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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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ISN® FOUNDRY PROGRAM

Current Foundry Partners

Current Packaging / Backend Partners

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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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▪ 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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