D-Wave Quantum Inc. (NYSE:QBTS) ("D-Wave" or the "Company"), a leader in quantum computing systems, software, and services and the world's first commercial supplier of quantum computers, today announced that the Company is redeeming all of the Company's outstanding public warrants (the "Warrants") to purchase shares of the Company's common stock, at 5 p.m. New York City Time on November 19, 2025 (the "Redemption Date"), for a redemption price of $0.01 per Warrant (the "Redemption Price"), in accordance with the terms of the Company's warrant agreement.

As of October 17, 2025, approximately 5 million Warrants were outstanding. Holders of the Warrants may exercise their Warrants at any time from the date of this release until 5 p.m. New York City Time on the Redemption Date by contacting their broker. Any unexercised Warrants outstanding as of 5 p.m. New York City Time on the Redemption Date will be void and no longer exercisable and their holders will have no rights with respect to those Warrants, except to receive the Redemption Price. If all of the outstanding Warrants are exercised, approximately 7.2 million shares of common stock will be issued that will result in less than 2.1% dilution to existing shareholders.

The redemption of the Warrants will streamline D-Wave's capital structure. As a result of the redemption, the Company expects November 17, 2025 to be the last day on which the Warrants will be traded on the New York Stock Exchange.