Pasqal has recently announced strategic collaborations and joint ventures to expand its quantum technology presence, particularly in Saudi Arabia, and to explore new application areas such as the global protein economy.

• Pasqal and KACST launched a strategic quantum research collaboration to advance quantum technology and cryptography readiness in Saudi Arabia, focusing on quantum-safe cryptographic solutions and leveraging national research infrastructure [N2].
• Pasqal and Eleven Ventures are working to establish a joint venture, Pasqal Arabia, to deploy and commercialize Pasqal's neutral-atom quantum computing systems in Saudi Arabia and the wider region, aiming to develop local talent and market presence [S1].
• Pasqal partnered with True Nexus to explore quantum applications in the global protein economy, opening new frontiers for quantum technology use cases [N1].

Pasqal's strategic collaborations and joint ventures in Saudi Arabia position it to access emerging markets and develop local expertise in quantum technologies. Its partnership with True Nexus to explore quantum applications in the protein economy indicates diversification into high-potential application areas. The company's proprietary neutral-atom quantum processing technology and cloud services underpin its research and commercial efforts, potentially enabling innovative solutions in quantum cryptography and computing. Successful execution of these initiatives could enhance Pasqal's technological leadership and market presence.

Pasqal operates in a highly complex and emerging technology sector with significant technical and commercial risks. The establishment of joint ventures and research collaborations is subject to board approvals and definitive agreements, which may not materialize or deliver anticipated benefits. The company has limited publicly disclosed financial data, which constrains assessment of its financial health and operational scale. Market adoption of quantum technologies remains uncertain, and competition from other quantum computing firms and technologies could challenge Pasqal's growth and differentiation.

Pasqal's moat is based on its proprietary neutral-atom quantum computing technology and its strategic partnerships that facilitate regional deployment and research collaborations. The company's joint venture in Saudi Arabia and research agreements with national science institutions provide access to local markets, talent, and infrastructure, potentially creating barriers to entry for competitors. Additionally, Pasqal's focus on quantum-safe cryptography and applications in emerging fields like the protein economy may differentiate its offerings. However, the quantum computing industry remains nascent and competitive, with technological and commercial uncertainties.

• Execution Risk in Strategic Collaborations: The joint venture with Eleven Ventures and research collaboration with KACST are subject to approvals and definitive agreements, with no assurance of completion or commercial success [S1].
• Technology and Market Uncertainty: Quantum computing is an emerging field with uncertain timelines for commercial viability and adoption, posing risks to Pasqal's business model and revenue generation [S1].
• Limited Financial Disclosure: Recent financial figures and liquidity ratios are not publicly disclosed, limiting transparency into Pasqal's financial condition and operational performance [S1].
• Geopolitical and Regional Risks: Pasqal's expansion in Saudi Arabia involves geopolitical and regulatory risks that could impact joint ventures and collaborations [S1].

• Pasqal Holding SA is a French company incorporated in May 2026 and headquartered in Palaiseau, France [S1].
• The company completed a business combination and listing on Nasdaq under ticker PSQL in August 2026 [S2].
• Pasqal operates in the quantum technology sector, focusing on neutral-atom quantum computing systems [S1].
• Pasqal has established a memorandum of understanding with Eleven Ventures to create a joint venture, Pasqal Arabia, to commercialize and scale quantum computing systems in Saudi Arabia and the wider region [S1].
• The joint venture aims to deploy and operate Pasqal's neutral-atom systems in Saudi Arabia and develop local talent, subject to board approval and definitive agreements [S1].
• Pasqal entered a research collaboration agreement with King Abdulaziz City for Science and Technology (KACST) to advance quantum technology research and quantum cryptography readiness in Saudi Arabia [S1].
• The collaboration with KACST focuses initially on quantum-safe cryptographic solutions, leveraging Pasqal's quantum processing technology and cloud services [S1].
• Pasqal's activities in Saudi Arabia also include deployment of quantum processing units with Saudi Arabian Oil Company [S1].
• The company is subject to foreign private issuer reporting requirements and files annual reports on Form 20-F and material event reports on Form 6-K with the SEC [S1].
• Pasqal's consolidated financial statements for 2024 and 2025 are incorporated by reference in SEC filings, but no recent financial figures or liquidity ratios are disclosed in the snapshot [S1].
• Pasqal's website is https://www.pasqal.com, but information there is not incorporated by reference in SEC filings [S1].
• Recent news highlights include the launch of a strategic quantum research collaboration with KACST and a partnership with True Nexus to explore quantum applications in the global protein economy [N2][N1].