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Powering what comes next. Q2 Investor Presentation Shauna McIntyre CEO Bryce Dille CFO S O L I D- S T A T E M I C R O B A T T E R I E S
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Forward-looking statement. 2 August 2026 Readers and prospective investors of the Group’s shares are cautioned that Forward-looking Statements are not guarantees of future performance and that the Group’s actual financial position, operating results and liquidity, and the development of the industry in which the Group operates, may differ materially from those made in or suggested by the Forward-looking Statements contained herein. No guarantees are given that the intentions, beliefs or current expectations upon which its Forward -looking Statements are based will occur. Given the aforementioned uncertainties, prospective investors are cautioned not to place undue reliance on any of these Forward -looking Statements. This presentation includes “forward -looking” statements, including, without limitation, projections and expectations regarding Ensurge and its subsidiaries (the “Group”) and its future financial position, business strategy, plans and objectives (the “Forward -looking Statements”). All Forward-looking Statements included herein are based on information available to the Group, and views and assessments of the Group, as of the date of this presentation. Ensurge can make no assurance as to the correctness of such Forward - looking Statements and readers are cautioned that any Forward -looking Statements are not guarantees of future performance. By their nature, Forward-looking Statements involve and are subject to known and unknown risks, uncertainties and/or assumptions as they relate to events and depend on circumstances that may or may not occur in the future.
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Q1 2026 Q2 2026 H2 2026 ❑ Convert customer engagements into paid long- term development agreements ❑ Extend validated performance to multi-layer product configuration ❑ Demonstrate performance at larger sample sizes ❑ Complete site relocation and close the fixed-cost restructuring ✓ Record multi-layer cycle life and capacity retention ✓ Above 90% capacity retention after approximately 100 cycles on Corning's Ribbon Ceramic cathode, single layer ✓ Product-led operating model introduced; people, product and process restructuring substantially complete ✓ Commercial: Recruited Chief Commercial Officer; pipeline broadened into defense; long-term contract negotiations advanced ✓ Team: Recruited experts across Test & Validation, Quality, Applications Engineering; delivered first phase of modernized, Cloud-based AI-enabled data infrastructure ✓ Financials: Recruited CFO and raised capital to fund ongoing development and relocation ✓ Technology: 4x LiPON electrolyte performance at 3x improved process homogeneity; reliable “Encore” cycling at higher volumes ✓ Operations: Site relocation defined — a showcase facility at substantially lower cost 2026: On the path to commercialization 3 Product Performance Process Repeatability External Customer Validation August 2026
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Financials • San Jose relocation to deliver USD 3.5M+ recurring annual savings, taking site-related costs from ~30% to ~10% of total annual cashflow . • Restructured team while keeping opex flat at USD 4.4M Q2 26 including capitalized R&D. • R&D material costs down 45% YoY , redeployed into quality and test engineering. August 2026 Team • Bryce Dille, CFA appointed CFO; battery scientist and Wall Street background. • Salil Soman appointed CCO, immediately expanding the pipeline. • Key battery expert hires across Test & Validation, Quality and Application Engineering. • Data infrastructure phase one live, shortening experiment-to- result loops. Q2 2026 achievements Positioning Ensurge for its next phase: expert leadership, commercial traction , disciplined cost efficiency, and product excellence • Paid customer development program in advanced negotiation. • Pipeline broadened into defense, IoT sensors and medical implantables. • Structured framework in place for evaluating and prioritizing against the product roadmap. Commercial 4 Product & Technology • 4x higher LIPON performance, 3x improved homogeneity • Reliable capacity at 30% of cell capacity using Corning's Ribbon Ceramic cathode • Process specification and tolerance focus improving consistency, LCO next • Record product cycling since Q1's shift to product focus; testing continues to accelerate • Legacy thin film equipment upgrades driving battery process gains, more to follow.
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T E C H N O L O G Y 40% improved thickness homogeneity, among other process improvements From record performance in Q1 onto reproducibility in Q2 Resolving key component process variability unlocks manufacturing, scale and commercialization 4x LiPON electrolyte performance • Objectives defined : LiPON sputtering specification set for required composition and conductivity. • Process assessed: full quantitative baseline across equipment, composition and conductivity. • Changes implemented : improved chemical composition, validated against capability measures. • Continuity controlled : defined process specification and standard operating procedures. 01 Component process variability 02 03 Process control as standard operating procedure Path to scale & commercialization Methodology now applied beyond LiPON to LCO and laser etching. Run-to-run control, operator training and standard work instructions deliver repeatability by default. Next: replicate performance in the full product configuration at larger sample sizes. Repeatability is what turns POC exit into commercial manufacturing. August 2026 5
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LEA RN INGS A PPL IE D ANODE CURRENT COLLECTOR (A node - fr ee , pl ate d in -sit u) STAINLESS STEEL SUBSTRATE (St ruc tur al) CATHODE (L iCO de pos iti on) SOLID STATE LiPON ELECTROLYTE BASELINE R&D PLATFORM (Stainless Steel Substrate) ENCORE PRODUCT PLATFORM (Corning Ribbon Ceramic Cathode) Value is in the stack, and LiPON is the critical enabler A stable, pin-hole free electrolyte withstands high-temp processing and carries the stack across both Ensurge platforms Material thicknesses are representative in form Anode Design LCO Specification LIPON Deposition Assembly & Stacking Test & Validation Customer Validation ANODE CURRENT COLLECTOR (A node - fr ee , pl ate d in -sit u) CORNING CATHODE (st r uc tur al wit h em bedde d L iCO ) SOLID STATE LiPON ELECTROLYTE 6
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Previous baseline performance Improved encapsulation + multilayer cell architecture Discharge capacity, % of average H 1 2 0 2 6 P E R F O R M A N C E · D A T A E S T A B L I S H E D I N Q 1 2 0 2 6 Q1: Record multi-layer cycle life and capacity retention Single-layer Corning Ribbon Ceramic cathode cycle life Over 100 cycles at 80% capacity retention and over 200 cycles at 70%, an accepted threshold for an emerging chemistry. Proof-of-Concept target of 250+ cycles now within reach. Single-layer cells on Corning's Ribbon Ceramic cathode held above 90% retention past 100 cycles → a first of its kind. Reliable cycling now runs at accelerated pace and expanded test quantities. Q1 established these results; Q2 has been about designing the component processes, and controlling them tightly enough, to reproduce them. Continuous testing feeds learning back into battery and process design, equipment and infrastructure. Multi-layer cycle life August 2026 7
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Exiting Proof-of-Concept Replicating validated performance across the full multi -layer product configuration and at larger sample sizes, on equipment that more closely represents pilot manufacturing conditions. C R E A T I N G F O U N D A T I O N A L V A L U E Product status New Product Introduction Innovation Proof of Concept Engineering Validation Design Validation Production Validation Mass Production E N G I N E E R I N GD I S C O V E R Y Initial prototype testing Technical feasibility testing Final product testing Pilot production Full scale manufacturing ✓ Unique fundamental physics ✓ Core process technologies defined ✓ First-run product performance achieved ✓ Initial samples shipped ✓ Product definition and requirements specification ✓ Manufacturing process definition and robustness ✓ Numerous evaluation agreements ✓ Cycling validated outside the glove box ❑ Platform validation across the full multi -layer configuration ❑ Repeatability at larger sample sizes ❑ Definition of product -specific pilot lines ❑ Customer development programs Accomplished Today’s Focus August 2026 8
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Volumetric energy density (Wh/l) 100 0 200 400 600 800 200 300 400 1000 Gravimetric Energy density (Wh/kg) Ni-Cd Ni-MH Li-ion A product built to win the 1–100 mAh window In partnership with Corning, Ensurge introduces a new class of solid -state microbattery that maximizes volumetric energy density Source: MDPI Applied Sciences, Advances in Materials Design for All -Solid-state Batteries: From Bulk to Thin Films, January 2025 Energy Density Unbeatable pack-level energy density Safety No flammable liquid electrolyte, no chemical leaching, and zero-volt assembly Flexible Form Factor Semiconductor-style manufacturing enables cost-efficient dimensioning and footprint flexibility Ease of Integration SMT compatible, without bulky circuit board brackets 9
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24.2% 10 Sources: microbattery market outlook 2022–2032 · Fortune business insights Semiconductor & Electronics, May 2026 MICROBATTERY TAM 1–100 mAh RANGE $19B The ideal window of entry for key component suppliers to capture this market is open, and Ensurge is ideally positioned to secure its place. The market opportunity for a new platform of a safe, high-energy-density is massive and growing rapidly. Growing 24%+ CAGR through 2032, stranded between sub- mAh solid-state and traditional Li-ion, with no volume supplier. Segm ents in ac tive disc ussi on +$4B+ Emer gi ng oppor tuniti es +$15 B+ Additional potential use cases growing 15%+ CAGR through 2034, displacing incumbent offerings where performance and size constraints are outpacing existing solutions Earbuds | rings | watches Patches | implants | hearing aids Sensors | labels | trackers | tags Actuators | Sensors | Accessories On-package layer | latency reduction | energy efficiency Wearables Medical Industrial & Defense Micro Robotics AI Data Centers $0.3B $0.2B $2.8B $0.2B $0.2B $1.4B+ 25.0% 18.1% 17.5% 15% 2032 2032 2032 2032 2032 $2.1B+ $12B+ $1.2B+ $2.9B+
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Market Proof Points Market validation creates a compelling opportunity 11 Technology Benchmark Competitor ASSB1 Ensurge ASSB TargetsMetric 2.6-4.0 V 2.3 V 41.7 Wh/L 13.14 Wh/kg Yes 3.0-4.2 V 3.6 V >1,000 Wh/L >400 Wh/kg Yes Voltage range Nominal voltage Volumetric energy density Specific energy Surface mountable 1All Solid State Battery. Source: online company press release Commercial adoption Wireless cooking temperature sensor Form-factor expansion ER-size module with wireless charging Ecosystem development Low-power supply module with ROHM 01 02 03 ~24x >30x August 2026
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Relocating San Jose operations 12 C O S T S T R U C T U R E Showcase facility 96,000 sq ft → 32,000 sq ft Purpose-built battery pilot line Customer-ready site for partners Planned transition for seamless transfer >USD 3.5M of recurring annual savings, on completion (70% reduction) ~30% → ~10% Reduction in site costs as percentage of total operating costs USD 9.5 million Net saved over the lease period, plus removal of USD 1 million remaining lease guarantee liability @Junction Av Not Yet Executed August 2026 The agreements are not yet signed. The Company will confirm final terms and the resulting financial effect on completion.
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Q2 2026 financials 13 Q2 25 Q1 26USD thousand Q2 26 Revenue and other income 0 154 3 Operating expenditure incl. capitalized R&D 4,277 4,082 4,396 EBITDA incl. capitalized R&D (4,277) (3,928) (4,393) Q2 2025 is shown on a like-for-like basis, including USD 2,505 thousand of R&D capitalization; the Company ceased capitalizing R&D in December 2025. Q1 2026 figures include USD 405 thousand of restructuring charges. R ELO CATIO N SAV INGS >USD 3.5M of recurring annual savings on completion. Approximately 20% of the annual operating cost base F UN DIN G AN D R U NWAY NOK 80M convertible financing secured in H1 at 48% premium. Runway into mid-H2 2026. Board pursuing several pathways, per Going Concern EBITDA loss of USD 4,393 thousand, against USD 4,277 thousand in Q2 25 on a like -for- like basis Revenue and other income of USD 3 thousand in Q2 26, and USD 157 thousand in H1 26, from strategic development and partnership activities Operating expenditure including capitalized R&D of USD 4,396 thousand, broadly flat against Q2 25 on a like -for-like basis • R&D material costs down 45% year on year, redeployed into experienced battery, quality and test engineering talent • Cost restructuring continued, eliminating non -value-added spend and non-essential positions August 2026
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Outlook: second half priorities 14 External validation and a leaner cost base by year-end Delivered in the first half: ✓ Record performance established, then reproduced outside the glove box ✓ 4x improvement in core technological differentiator , solid-state LiPON electrolyte process repeatability ✓ Team restructuring completed, focus on product and process by experienced talent paying immediate dividends ✓ Commercial function built and the pipeline broadened H2 2026H1 2026 • Paid customer development agreement milestone • Convert wider pipeline into multi-year development programs • Build Ensurge story publicly, showcasing opportunity and industry-leading team Commercial • Complete the site relocation, concluding the fixed-cost restructuring initiated in February 2026 • Design a purpose-built pilot manufacturing line and showcase facility for partners and customers Financials • Replicate performance with credible external validation • Demonstrate repeatability results with larger sample sizes • Advance Corning JDA toward Phase 1 completion Product August 2026
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Powering what comes next. A NEW C A TEGORY OF BATTERY For a new generation of devices.