Slides
Page 1
August 5 , 2026 amprius Q2 2026 FINANCIAL RESULTS SiCore . SICore . amprius Cora SiCore
Page 2
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 20262 Disclaimer on Forward Looking Statements This presentation and any related discussion contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements, including statements relating to Amprius' financial outlook. These statements are not historical facts but rather are based on Amprius' current expectations, estimates and projections regarding Amprius' business, operations and other factors relating thereto, including with respect to Amprius' financial outlook. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates," "outlook," “assumes,” “targets,” “opportunity,” “believe” and similar expressions are used to identify these forward-looking statements. Such forward-looking statements include statements regarding, among other things, Amprius' beliefs and expectations about revenue, expenses, profitability, cash flow, gross profit, gross margin, operating margin, net income (loss), Adjusted EBITDA, capacity, revenue capacity, backlog, costs, and related increases, decreases, trends or timing, including with respect to Amprius' beliefs and expectations about the end markets and the impact of these trends on Amprius' business; the strength, effectiveness, productivity, costs, profitability or other fundamentals of Amprius' business; beliefs about the role of Amprius' technology and market acceptance of Amprius’ products. All such forward-looking statements are based on management’s present expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, the following: market demands for Amprius' batteries; the ability of Amprius to execute its business model and strategy, including the ability to expand manufacturing capacity or develop production lines that meet its requirements, deliver high performance products to customers at acceptable prices and meet their demands via the contract manufacturing arrangements; the effect of macroeconomic factors, such as tariffs, trade barriers, retaliatory actions imposed on Amprius' partners and suppliers, including regulatory developments proposed in China, abrupt political change, geopolitics, currency fluctuations, embargoes, shortages, terrorist activity, armed conflict and public health emergencies, on Amprius' business; third-party producers of Amprius batteries continuing to produce such batteries in the expected quantities and caliber and at the expected prices; Amprius’ customers continuing to purchase batteries from Amprius; risks related to the rollout of Amprius’ business and the timing of expected business milestones; the effects of competition on Amprius’ business; Amprius’ liquidity position and its ability to raise additional capital; the possibility that Amprius may be adversely affected by economic, business or competitive factors, including supply chain interruptions, further cost inflation and developments in alternative technologies, and may not be able to manage other risks and uncertainties; and changes in other domestic and foreign business, market, financial, political and legal conditions. More information on these risks and uncertainties that may impact the operations and projections discussed herein can be found in the documents Amprius filed from time to time with the SEC, all of which are available on the SEC’s website at www.sec.gov. Except as required by law, Amprius specifically disclaims any obligation to update any forward-looking statements. The presentation contains information regarding certain financial targets and outlook with respect to the Company. Such financial targets and outlook constitute forward looking information and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such financial targets are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties, as described above. Actual results may differ materially from the results contemplated in the financial targets contained in this presentation. This presentation includes certain non-generally accepted accounting principles (GAAP) financial measures that we use to describe our company’s performance or estimated or targeted future performance. The non-GAAP information presented provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Reconciliations of GAAP net loss to non-GAAP Adjusted net loss and non-GAAP Adjusted EBITDA are provided in the financial schedules that are part of this presentation. An explanation of these non-GAAP financial measures is also included below under the heading "Non-GAAP Financial Measures." Amprius has not provided a reconciliation of the 2026 outlook for non-GAAP Adjusted EBITDA in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K due to the uncertainty regarding, and the potential variability of, reconciling items such as, the amount and timing of potential non-recurring items. The Company is unable, without unreasonable efforts, to forecast certain items required to develop meaningful comparable GAAP financial measures. The industry and market data contained in this presentation is based either on our management’s own estimates or on independent industry publications, reports by market research firms or other publicized independent sources. Although the Company believes these sources are reliable, it has not independently verified the information and cannot guarantee its accuracy and completeness, as industry and market data are subject to change and cannot always be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey or market shares. Accordingly, you should be aware that the industry and market data contained in this presentation, and estimates and beliefs based on such data, may not be reliable. Unless otherwise indicated, all information contained in this presentation concerning our industry in general or any segment thereof, including information regarding our general expectations and market opportunity, is based on management’s estimates using internal data, data from industry related publications, consumer research and marketing studies and other externally obtained data.
Page 3
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 20263 Q2 2026 and Recent Highlights Amprius continues to drive revenue growth with our capital efficient strategy and strong customer demand. Quarterly Revenue and Gross Margin T rajectory1 $ in Millions Commercial Updates 21 25 29 34 Q2-25 15% Q3-25 24% Q4-25 20% Q1-26 27% Q2-26 9% 15 2.3X+42% +18% +13% +19%Gross Margin Revenue 1- Unaudited interim financials for Q2 2026 Stark Future PO >$100M Opportunity Redwire Stalker Block 30 Operational Fremont Pilot Line 13/30 Tools Landed as Part of $18M DIU Project Expanded South Korean Contract Manufacturing with Network of Partners $24M Order from Major New European UAV Customer American Made Pack Cell Supply Ramp Up
Page 4
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 20264 Revenue Growth: Pack Partners and Design Wins Over the past 12 months, we’ve established a go-to-market path that is delivering accelerating revenue growth. Go to Market Paths P ack P artners • Core integrators reordering quarter over quarter • One relationship reaches many end platforms • Repeat programs anchor the majority of quarterly volume • Driving volume with DDP winners • Over 30% of cells are sold through this channel • Performance and cell delivery are key • Representative partners: OEMs — Design Wins • Direct wins on new platforms across UAV, defense and light EV • Amprius-led qualification builds the spec into the platform • Each win seeds follow-on volume as programs scale • Opportunity to work on an optimized system with custom size/chemistry pouch cells That Drive Efficient Paths to Demand… That T ranslates into Growth Flywheel +126% Y oY Six consecutive quarters of multi segment revenue growth; $34.0M in Q2 2026 and $62.6M in H1 2026 Direct to OEMVia Pack Partner No re-qualification. The partner’s pack is already designed in, so Amprius ships into an existing platform. The partner motion is a light lift for our team and scales without adding sales headcount. Tight technical relationship. A deep understanding of the requirements is established over time, enabling path to solving future needs. Recurrent Orders Sample Accelerated Design win Volume Ramp Sample Qualification Design win Volume Ramp Recurrent Orders Pack Partner Cell Sales Established OEM Design Wins Drives Further Innovation and Cell Development Sales T eam Leverage
Page 5
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 20265 Capacity Expansion: Korea and the U.S. A capital efficient contract manufacturing model delivers >2 GWh of worldwide capacity that will grow and be compliant. 2024 SiCore launch – built in standard lithium-ion factories May 2025 Added South Korea contract manufacturer. WW capacity: 1.8 GWh Sep 2025 First NDAA cells delivered from South Korea Dec 2025 Korea Battery Alliance expanded. Capacity exceeds 2.0 GWh Jan 2026 Nanotech Energy – U.S. manufacturing contracted South Korea | gaining scale, have more than doubled volume • Korea Battery Alliance spans cell makers, materials, components, and equipment suppliers • Partners build SiCore cells to Amprius specification: no Amprius-owned factory required • Allied-nation production aligned to NDAA requirements for defense customers • World-class lithium-ion base delivers scale and cost efficiency now United States | trusted domestic base • Full U.S. pilot line funded by the Defense Innovation Unit (DIU) • Supports programs requiring domestic content and secure supply • On track to have cylindrical and pouch cell scale production before end 2027 • Demand signal is becoming very clear from customers across various markets: • Unmanned aerial vehicles: defense and industrial applications • Satellites and space • Robotics • Light EV’s, e-mobility Over 2.0 GWh of contracted capacity today. China and Korea supply scale while the U.S. anchors defense-qualified, domestic-content supply. End of 2026 2027 DIU-funded U.S. pilot line fully operational On track for full NDAA production before year-end
Page 6
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 20266 Q2 and L TM Financial Highlights Delivered record revenues again during the quarter. Gross margin of 27% in line with expectations. 1- Unaudited interim financials for Q2 2026 2- See reconciliation GAAP to Non-GAAP Reconciliation for the reconciliation to net loss, the most directly comparable GAAP measure, to Adjusted EBITDA for the presented period Revenue $34.0M +126% Y oY Q2 2025: $15.1M | LTM: $109.2M • Up 19% sequentially on rising demand • H1 2026 revenue of $62.6M, up 137% • Gross margin 27% vs. 9% in Q2 2025 Net Loss ($5.1M) ($3.2M) 20% narrower Y oY without $1.9M adjustment 50% narrower YoY Q2 2025: ($6.4M) | LTM: ($38.4M) • LTM includes one-time $22.5M Colorado charge • Excluding the charges, LTM loss of $14.0M Adj. EBITDA ($1.0M) (3%) margin Q2 2025: ($2.1M), (14%) | LTM: ($0.8M) • Adjustments: $2.5M stock comp, $0.8M D&A, $1.9M noncash increase for warrant modification • $1.1M interest and other • LTM margin of (1%), from (40%) a year ago EPS — Diluted ($0.04) ($0.02M) 20% narrower Y oY without $1.9M adjustment Q2 2025: ($0.05) | LTM: ($0.29) • Q2 includes $1.9M noncash warrant adjustment • Excluding the charge: Q2 ($0.02) and LTM ($0.27) • 143.5M weighted average diluted shares • LTM assumes 134.7M weighted average shares • Share count up on warrant and option exercises Cap Ex $1.8M +$1.1M Y oY Q2 2025: $0.7M | LTM: $5.6M • All Fremont; supports electrode coating build-out • Primarily funded by the Defense Innovation Unit • Supported construction and equipment Cash Balance $74.5M +$12.2M in the quarter Q2 2025: $54.2M • $16.8M from warrant and option exercises • Working capital of $113.2M vs. $59.8M a year ago • No debt • No at-the-market offering facility
Page 7
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 20267 Raising 2026 Guidance H1 performance and clearer H2 demand visibility enables raised baseline performance as we invest in long-term growth. 1- See reconciliation GAAP to Non-GAAP Reconciliation for the reconciliation to net loss, the most directly comparable GAAP measure, to Adjusted EBITDA for the presented per iod 2- Current outlook assumes diluted weighted average shares outstanding of 143.5 million for the year March 2026 Initial 2026 outlook: revenue >$125M, gross margin ~25%, positive Adj. EBITDA May 2026 | Q1 call RAISED Revenue outlook raised to >$130M after Q1 revenue of $28.5M, up 153% Y oY TODAY - August 2026 | Q2 call RAISING AGAIN Revenue outlook to at least $140M and gross margin to at least 28%; profitability targets reiterated Revenue ≥ $140M Prior: >$130M RAISED Gross Margin ≥ 28% Prior: >25% RAISED Adj. EBITDA1 >$4M ~3% margin REITERATED Net Income ($10.0M) ($8.0M) excluding the $1.9M warrant non-cash FV charge REITERATED EPS2 ($0.08) ($0.6) excluding the $1.9M warrant non-cash FV charge REITERATED Recent Guidance History CAPEX < $10M — funding DIU backed investments in Fremont while preserving a capital-efficient, low fixed-cost model
Page 8
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 20268 Strategy and Value Drivers Amprius is on a path of continued momentum to develop the full potential of its business model and create more value. GROUNDED ON HIGHER PERFORMANCE 2.3X revenue growth YoY and gross margin progression to 28% WINNING COMMERCIALL Y Powerful flywheel at work with strategic pack partners and a growing list of OEM relationships and wins in several markets INCREASING SUPPL Y POSITION Addition of manufacturing partners in South Korea and U.S. increases flexibility and paves a clear path to early NDAA supply COMMITED TO CAPITAL EFFICIENT MODEL Leveraging partner’s worldwide capacity and expertise Developing Capabilities to Create More Value Impactful Go to Market China, South Korea and U.S. Manufacturing Partners Broader Cell Portfolio NDAA batteries Partnerships to Drive Scale Lead in space, light EVs, robotics
Page 9
APPENDIX Amprius Technologies | Q2 2026 Financial Results Call | August 5, 20269
Page 10
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 202610 Surveillance Drone Market Segments Amprius content scales with pack size — endurance-limited ISR platforms are the highest-value opportunity. Drone Class Avg. T akeoff Weight Duty Cycle / Endurance Battery P ack Size Max Range P otential Cell Content Representative Platforms Nano / Micro ISR < 0.25 kg 20–30 min per flight 4–6 short trips per day 15–40 Wh 1S–3S cell pack 1–5 km ~$40–100 per aircraft FLIR Black Hornet, Parrot Anafi USA Group 1 Small Quadcopter 2–3 kg 35–50 min per flight 3–5 short trips per day 100–250 Wh 6S cell pack 5–15 km ~$300–700 per aircraft Skydio X10, Anduril Ghost X Group 2 VTOL / Fixed- Wing 12–20 kg 2–4 hrs per flight 1–2 short trips per day 0.5–1.5 kWh multi-string pack 20–60 km ~$1.5–4K per aircraft Quantum Vector, AeroVironment Puma Group 3 T actical UAS 60–150 kg 8–16 hrs per flight near-continuous ops 3–10 kWh modular pack 100–300 km ~$10–30K per aircraft Insitu ScanEagle, AeroVironment JUMP 20 HAPS / Pseudo- Satellite 75–150 kg Weeks to months aloft 64-day flight demonstrated ~5–15 kWh night discharge cycle Persistent station- keeping Highest $ per aircraft flight-proven on Zephyr S Airbus Zephyr 8, BAE PHASA-35 Sources: DoD UAS Group 1–3 classification; manufacturer spec sheets for representative Group 1 –3 ISR platforms; Airbus / AALTO Zephyr HAPS product data; BAE Systems PHASA -35 (35 m wingspan, 150 kg, stratospheric flight at 66,000 ft, 2023); AIAA Aerospace America, “Meet the next pseudo satellites” (2025); Amprius release on silicon -anode cells powering Airbus Zephyr S. Note: figures are industry-typical ranges by class, not single -platform specs. Expected Amprius content per aircraft is illustra tive, based on cell-level pricing.
Page 11
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 202611 Attack and Counter-Attack Drone Segments Strike and interceptor platforms are power-limited — and consume a battery pack for every mission. Platform Class Avg. T akeoff Weight Duty Cycle / Endurance Battery P ack Size Max Range P otential Cell Content Representative Platforms FPV Strike Drone 1–3 kg 10–20 min short trip one-way, expendable 80–150 Wh 4S–6S cell pack 5–20 km ~$150–400 per aircraft, consumed Wild Hornets FPV, 7–10 in strike airframes T actical Loitering Munition 2–5 kg 15–30 min loiter single mission 100–250 Wh high C-rate pack 10–40 km ~$300–700 per round, consumed Switchblade 300, WB Warmate, Lancet-1 Medium Loitering Munition 30–60 kg 40–120 min loiter single mission 1–3 kWh modular pack 40–1,000+ km ~$3–8K per round, consumed Switchblade 600, Lancet-3, Shahed-136 class C-UAS Interceptor 3–10 kg 10–25 min sprint high-power burst 150–500 Wh peak-power optimized 10–40 km ~$500–1.5K premium for C- rate Wild Hornets STING, SkyFall P1-SUN, Zerov-8 C-UAS Patrol / Escort 15–25 kg 2–4 hrs on station reusable, daily ops 0.8–2 kWh endurance pack 50–150 km ~$1.5–4K per aircraft Aerovel Flexrotor, UAV Factory Penguin C Sources: DoD UAS Group 1–3 classification; manufacturer spec sheets for representative loitering -munition and counter-UAS platforms (AeroVironment Switchblade 300 / 600 class, Anduril Anvil class interceptors); open -source reporting on FPV strike drone build costs and battery configurations; Amprius product literature on high-power silicon-anode cells. Note: figures are industry-typical ranges by class, not single -platform specs. Expected Amprius content per aircraft is illustrative, based on cell -level pricing; one-way platforms consume the pack each mission.
Page 12
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 202612 Winning Through Clearly Demonstrated P erformance Amprius’ silicon anode platform enables higher energy density without compromising other important requirements. Other than cycle life, based on survey of 18650 technical datasheets (ex. Panasonic NCR18650G), Sony VTC6 technical datasheet, iFixit reports on iPhone and Samsung batteries and Y. Sun et al.: Li-ion Battery Reliability – A Case Study of the Apple iPhone. For cycle life, based on Shmuel De-Leon: Li-Ion NCA/NMC Cylindrical Hard Case Cells Market 2021.Includes both released and unreleased products with energy and power cell designs. Based on Amprius’ SiMaxx High Power cells. Delivering 2X the energy per unit of weight or space and faster charge rates, without compromising cycle life… …and broadening the operating temperature range… … in a tunable platform that delivers an optimized cell to enable specific duty cycles. Energy Density PowerCycle Life Graphite Anode Amprius Energy Tuned Amprius Power Tuned Amprius Life Tuned
Page 13
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 202613 Diverse and Fast-Growing End Markets Various fast-growing markets demand high energy density and offer us the opportunity to increase our share withing them. T arget End Markets Duty Cycle Requirements Why Energy Density Matters Global Li-ion Cell Market Sizing ($B) UAVs Payload & Loiter Time: Shifting from consumer products to defense, delivery, and industrial inspection. Higher density allows for heavier payloads (advanced optics, LIDAR, cargo) without sacrificing critical flight time. Crucial for maximizing flight endurance while carrying weight and powering sensors, radars, devices. Satellites / Space Launch Economics: Launch costs are strictly bound by mass and volume. Maximizing power storage within confined spaces (like CubeSats) directly dictates mission capabilities and orbital lifespan. Maximizing power within spatial constraints enables lower cost launches and higher payloads Light EVs (e-Bikes, Scooters) Form Factor & Range: Consumers demand longer ranges between charges, but the battery must be seamlessly hidden within sleek frame designs to maintain aesthetic appeal and agile handling. Fitting more capacity into standard / space constrained pack sizes and enabling range. Robotics (Humanoid, AMR) Untethered Uptime: Maximizing productivity shifts for industrial robots without frequent charging. For humanoid robots, batteries must fit compactly within joints/torsos while delivering high burst power for agile movements. Weight impacts center of gravity; volume dictates the robot's physical profile. eVTOLs (Air Taxis) The Absolute Enabler: Current lithium-ion chemistries struggle to make commercial passenger routes viable. High energy density is the strict technological gateway to achieving the necessary range, payload and safety needs. Essential for vertical takeoff paired with sustained cruise range. 1- Market sizing study completed by Ratel Consulting LLC on May 2026 for UAV, Light EV, eVTOLs, space and Robotics markets 5 8 102 3 5 2 11 8 2026 1 2030 2035 Satellites/ Space +5% p.a. eVTOLs +46% p.a. Robotics +58% p.a. UAVs +15% p.a. Light Evs +9% p.a. 7 13 35 +98% +160% CAGR
Page 14
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 202614 System Capabilities, Speed, and Flexibility Define Us Full system development and flexibility position Amprius to capture demand by providing the right cell for the application. Design and development capabilities at the cell level… … combined with the ability to use standard lithium- ion cell production equipment… … enable us to quickly deliver the right cell in the right form factor, with the right capabilities to customers... Component Selection Requirement Definition Energy Power Cycle Life Process Development and Quality Assurance Anode Structure Cathode Separator Electrolyte Additives Other Specifications … with over 25 SKUs that include balanced cells… …high power cells… …and high energy cells.
Page 15
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 202615 Our Cell Roadmap Will Extend Our Lead Amprius is planning energy density improvements that will provide more power, higher density and cycle life. 250 300 350 400 450 500 550 600 Long Cycle Life Cell High P ower Cell High Energy Cell Long Cycle Life Cell High P ower Cell High Energy Cell Ultra High Energy 2026 H1 2027 H2 2027 T arget Roadmap Cell Energy Density - (Wh/kg) T arget Applications and Duty Cycles Long Cycle Life Cells High P ower Cells High Energy Cells Where long uptime enables range and usability Where sustained high-power bursts are needed Where a long life with high energy density is needed High P ower Cell Long Cycle Life Cell
Page 16
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 202616 Long-T erm T argets Driving capacity, growth and margins with capital efficiency and a low fixed-cost structure 1- See reconciliation GAAP to Non-GAAP Reconciliation for the reconciliation to net loss, the most directly comparable GAAP measure, to Adjusted EBITDA for the presented period From $73M in 2025 to $600M+ of capacity by 2030 — at >30% gross margin and >20% Adj. EBITDA margin 2025 Actuals $73M Gross margin 11% Adj. EBITDA 7% in Q4 Go-to-market focused on UAV and light EV, with over 550 customers secured off a low revenue base. Exited Q4 at a 25% gross margin run rate. 2026 Outlook ≥ $140M Gross margin ≥ 28% Adj. EBITDA P ositive, $4M Raised in Q2 2026. Expanding from a higher revenue base with a proven model and longer-term customer commitments. 2030 T arget $600M+ Capacity basis Contracted GWh Gross margin >30% Adj. EBITDA >20% High-growth, scaled multi-market leader with global reach, setting the technical pace for the industry. Countries of supply + U.S. coating, More Korean partners + additional allied nations+ first Korean CM, 1.8 GWh United States South Korea China United States South Korea China United States South Korea China
Page 17
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 202617 NDAA Compliance – What Does it Mean? Federal law is locking non ally made cells and materials out of the U.S. defense supply WHAT NDAA COMPLIANCE MEANS THE MANDATE Section 154 of the FY2024 NDAA bars the U.S. Department of Defense from buying batteries produced by six named manufacturers. “Produced” = final assembly or a majority of the components. WHO'S RESTRICTED Six firms supplying most of the world's lithium-ion cells: CATL · BYD · Envision Energy EVE Energy · Gotion · Hithium MATERIALS & CONTENT Ban is entity-based, not a materials rule. Non-ally inputs are allowed unless a listed firm supplies a majority of the components. Newer FEOC rules (Sec 842) phase in non- ally materials and U.S./allied cell production. WHEN THE REQUIREMENTS TAKE EFFECT Bottom line: the rules phase in from 2027 — non-ally cell materials, U.S./allied cell production, and rising domestic content. Dec 2023 FY24 NDAA & Buy American content rules enacted Jun 2026 Section 805 direct- procurement ban takes effect Oct 2027 Section 154: DoD barred from six Chinese battery makers 2027 Cell materials & components must be sourced from NDAA authorized counties Jan 2028 Battery cells must be produced in the U.S. or allied nations Jan 2029 Standard batteries comply; Buy American content → 75%
Page 18
Amprius Technologies | Q2 2026 Financial Results Call | August 5, 202618 GAAP to Non-GAAP Reconciliation