I think about energy pretty simply. Right now, it works really well in some places and not well at all in others. And even where it does work, it's under strain. Demand keeps rising, expectations keep rising. The system wasn't built for today's reality. We built grids around predictability, around the idea that you could plan everything in advance. That's not the world we live in anymore. What worries me is that progress still depends on where you are, whether you're in the right place, on the right part of the grid. It shouldn't work that way. Power shouldn't be the thing that slows us down. It shouldn't be the reason a city can't thrive or an industry can't move faster or data center capability can't grow. To me, energy working everywhere means you don't have to think about it. That's where energy storage changes everything. Not as a bolt-on or a backup, but as the foundation of how the system works. When storage is done right, variability stops being a problem. You can smooth it, shape it, dispatch it. And once energy stops being a constraint, a lot of other things open up. You can build where it makes sense. You can scale without hesitation. You can move faster without breaking things. That's the future that everyone at Eos is focused on. It's not flashy. It's not hypothetical. Just energy that shows up, does its job, and lets everything else move forward. Because when energy works everywhere, it stops being the limit. And that changes everything that comes next. Every new era of technology begins the same, with the world demanding more than its systems were built to give. More power for a world that never powers down. More from the space we already occupy. As energy is called to do more, we're reshaping how it's stored. First in chemistry, now in form. And when form changes, the very idea of space shifts from constrained to limitless. This is Eos In Density. Energy storage not bound by size, not confined by space, not constrained by demand. The distance between power and purpose closed. The new era isn't someday. It's now. When breakthrough density, scale, flexibility, and safety power limitless potential. Welcome to the new era of energy storage. Welcome to In Density. Trying to build what comes next with yesterday's tools only gets you so far. At some point, you have to step back and ask a basic question. If you were designing an energy system for today, one that actually reflects how the world works now, where would you start? We decided to start at the smallest level, from the electron up. That led us back to zinc chemistry. We refined it, we hardened it, and we built the Z3 module. Safe by design, durable by nature, and flexible enough to scale without breaking. But hardware alone isn't enough anymore. So we built intelligence right into the system. Eos Dawn OS is our controls and analytics platform. It gives every module the ability to sense what's happening, respond in real time, and adapt as conditions change. Every step we took, every decision we made, all pointed in the same direction. Eos In Density. Density is a gigawatt energy storage architecture designed for the reality we're in, not one we used to plan for. It's built with what we at Eos call spatial intelligence. Spatial intelligence using space intelligently so it fits alongside real places, real people, and real infrastructure. It scales, it flexes, it's safe, and it's dense. Dense enough to move past the limits of what we've been dealing with. We're delivering roughly four times the energy of most other incumbent systems, targeting a gigawatt- hour per acre, bringing high-density storage into places where it simply wasn't possible before. At the center of it all is the Eos In Density core, a completely redesigned modular building block for how power gets built from here on out. Now let me bring out someone who's put a decade's worth of ideas into In Density, Eos' Chief Technology Officer, Francis Richey. Francis. Thanks, Joe. As the energy storage industry has pushed for higher and higher energy density inside standard 20-foot shipping containers, an unsurprising set of practical challenges has followed: exceeding weight limits during transport, safety concerns when so much energy is concentrated in a very small space, real serviceability issues when modules become so large and are packed so tightly that access becomes difficult. Rather than accepting those trade-offs, we stepped back and took a fundamentally different approach. We chose to design smaller, to build units that would be lighter weight, easier to service, and with improved safety. That design philosophy led us to the Eos InD ensity core. Each In Density core is a compact, fully integrated energy storage unit. A single string of our Z3 battery modules combined with our Dawn OS advanced controls and software. Power control is built into every single unit, as is onboard cooling. It's outdoor rated, self-contained, and designed for simple, straightforward installation. Simple to place with a forklift, easy to service, fast to connect into an electrical system, and it can be stacked vertically, which ultimately enabled our Eos In Density solution to deliver much higher site-level energy density than traditional systems, roughly four times more per acre. In Density changes how we think about space. It transforms tight footprints and vertical real estate into usable energy capacity. Every configuration maximizes what a site can deliver while giving customers control over how their site is designed based on how much energy they need. In rural settings, the In Density core can be configured three high, enabling Eos In Density systems to reach roughly 250 megawatt hours per acre. In more constrained suburban environments, configuring six high enables about 500 megawatt hours per acre. And in dense urban environments, where land is a premium and storage is essential, the system can scale up to 12 high, achieving roughly one gigawatt- hour per acre. The process is straightforward. A simple steel superstructure is assembled first, and In Density cores are slotted into place, allowing scale without complexity. In Density is built around flexibility in real-world operation. The Z3 battery and Dawn OS control system allow customers to charge and discharge from 4 to 16 hours and beyond. The system supports both partial and multiple cycles per day, as well as responds to grid power demands in as little as five milliseconds. All while taking advantage of inherently long cycle life, low-capacity fade that static aqueous zinc halide batteries are well known for. In Density powers through the toughest operational requirements. It allows for a large temperature window with minimal auxiliary load and no calendar degradation. The system is happy, idling at zero volts and 0% state of charge indefinitely, without the need for cooling, heating, or maintaining a minimal voltage or state of charge during these idle periods. Safety is a foundational piece to Eos In Density. It is not an add-on. The Z3 battery chemistry uses a non-flammable aqueous electrolyte. Eos In Density core operates at the sound level of a quiet conversation, uses built-in cooling fans, and its major components are recyclable. At scale, Eos In Density continues to prioritize safety. No exposed metal. All electrical connections and circuit boards are protected, and there's generous spacing between modules to support airflow turnover as well as cooling. Protective controls are handled by Dawn OS, our state-of-the-art battery management system designed specifically for Eos chemistry. Each module can be isolated down to 40 volts, and each Eos In Density core can be isolated independently using a DC-DC converter. Taken together, these features allow Eos In Density systems to operate safely and sit alongside high-value infrastructure and within dense urban environments. This isn't the vision of one or the idea of another. This is a team of professionals that have been working on energy storage for a long time, more than 15 years, and during that time, we've learned where the limits really are and which ones don't actually need to exist. We've pushed those boundaries, tested assumptions, and density is what comes out of that work. It's a system built to grow, to adapt as conditions change, to respond to demand before it becomes a problem, not just for one application or one place, but wherever energy actually has to perform. This isn't storage for storage's sake. It's energy that keeps up, energy that supports bigger ideas, tougher missions, and faster progress without asking for compromises. A system where energy isn't the thing holding you back, it's the thing that propels you forward, and that's what In Density is about. Not a promise, not a vision. Something real, something ready, something limitless.