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Accelerating Energy Transition Through Battery Materials Discovery and Health Management January 2026
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Although all information and opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, SES has not independently verified the information and makes no representation or warranty, express or implied, as to its accuracy or completeness. Some data is also based on the good faith estimates of SES, which are derived from reviews of internal sources as well as the independent sources described above.SES owns or has rights to various trademarks, service marks and trade names that it uses in connection with the operation of its businesses. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. 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Risk Factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on February 28, 2025, as amended on April 30, 2025 and other documents filed from time to time with the SEC. There may be additional risks that SES presently knows and/or believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect SES’s expectations, plans or forecasts of future events and views only as of the date of this presentation. SES anticipates that subsequent events and developments will cause its assessments to change. However, while SES may elect to update these forward-looking statements at some point in the future, SES specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing SES’s assessments as of any date subsequent to the date of this presentation. Disclaimer 2
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ACCELERATINGTHEENERGYTRANSITIONTHROUGHAI Source:1.Meticulous Research. (2023, June). Battery Energy Storage System Market - Global Forecast to 20302.CATL’s A1 Prospectus, GGII Report3.Precedence Research 3 UNIQUELY POSITIONED TO SOLVE THE ISSUES OF BATTERY DEVELOPMENT AND SAFETY REQUIREMENTS•Standard timelines are a hindrance to adoption of new technology with ingrained R&D processes by the largest cell makers•Energy transition needs are requiring more integration of AI software and hardware along with precise battery health monitoring SES AI ACQUISITIONS AND TECHNOLOGY ARE ADDRESSING LARGE, RAPIDLY DEVELOPING MARKETS IN A CAPEX-LIGHT MANNER•The ESS market is expected to be 10x the size of the EV market within the next 10 years1•Global ESS battery shipments are expected to grow from 300 GWh in 2024 to 1,400 GWh in 20302•Global military drone battery market is expected to grow from $9.5bn in 2025 to $21.8bn in 20303 SUCCESSFULLY COMMERCIALIZING OUR IP FOR EXPECTED REVENUE GROWTH AND VALUE CREATION IN 2026 AND BEYOND•Core intellectual property of SES Molecular Universe provides competitive advantages for ESS, Cells and Electrolyte Materials businesses•Molecular Universe has evolved into our own AI4Science company and a virtually untapped asset with robust comparable valuation markers in the private market KEY PRODUCT, REVENUE, DEVELOPMENT AND PROFITABILITY MILESTONES INTACT•Revenue of $16.4 million in the first three quarters of 2025 and previously issued guidance of $20 million to $25 million for full year 2025•Strong liquidity position of $214 million as of September 30, 2025
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4 “The Genesis Mission marks a defining moment for the next era of American science. We are linking the nation’ s most advanced facilities, data, and computing into one closed-loop system to create a scientific instrument for the ages, an engine for discovery that doubles R&D productivity and solves challenges once thought impossible.”Dr. Darío Gil, Under Secretary for Science and Genesis Mission Director (DOE)
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@2026 Molecular Universe Pte. Ltd. (Confidential & Proprietary) Est. (MITspinoff) Establish 3Business Units: ESS, Drones, Materialsfocusing on revenue generationMolecularUniverse focusing on value generation LaunchedMolecular UniverseAcquired UZ for ESS Formed JV with Hisun for Materials Partnered with Top Materials forDrones (NDAA-compliant cells) Opened Electrolyte Foundry Boston, USA Entered EV B-sample (Hyundai and Honda)Booked 1st Revenue NYSE Listing(NYSE: SES)Built NDAA-compliant Li-Metal cell manufacturing line in Chungju, South KoreaSign world’s first EV A-sample (GM, Hyundai, Honda) Started AI Initiative Battery Cell DataCollection Across Multiple Chemistries – Powering Predictive Models SESAIHistory 5
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MaterialsSupply materials discovered through Molecular Universe SaaS platform ESSSupply fully integrated hardware/software solutions with battery health and safety management software powered by Molecular Universe for data centers and C&I CellsSupply high energy and power density and NDAA-compliant Li-Metal and Li-ion cells designed through Molecular Universe for drones/UAM/robotics Molecular Universe (AI4Science SaaS Platform ) Focus on fast growing markets (ESS, Drones and Materials) and our unique value proposition for eachdrivenbyourcompellingintellectualpropertyandtargetedbusinessplansMolecular Universe is anAI4Science platformcomparabletoprivate,pre-andearly-revenueAI4SciencepeerssuchasPeriodic Labs,SandboxAQandDPTech, amongothers,whohaveraisedcapitalin2025atvaluationsrangingfrom~$1bnto~$5bn Multi-ProngedBusinessOpportunitiesEnabledbySESAI’sCoreMolecularUniversePlatform 6
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SES AI Material discovery (ESS is #1 most searched query on MU)SES AI Battery Health Monitoring(Ensure safety and lifetime) 5-10kWh10-100kWh 5MWh ESS (Acquisition of UZ)Supply fully integrated hardware/software solution for data centers and C&I 100-500kWh •Molecular Universe battery health management software can predict safety issues and reduce maintenance/operation cost•UZ, with its >500MWh of manufacturing capacity and customers in over 60 countries, provides valuable real-world data to further train Molecular Universe7
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Materials (JV with Hisun)Supply materials discovered through Molecular Universe on a commercial scale Currently 6 breakthroughs discovered through Molecular Universe being tested at 40+ customers A.SES H2.32 – better cycle life and storage for EVB.SES S8.62 – better cycle life and power density for DronesC.SES K3.1 – better low-temp cycle life and power density for Heavy Duty TruckingD.SES I3/J1 – better cycle life and longer life for Consumer ElectronicsE.SES K3/4/11 – better cycle life and low-temp performance for ESS and EVF.SES G5-Gel – better cycle life and storage for Consumer Electronics 8
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A. SES-H2.32B. SES-S8.62C.SES-K3.1D. SES-I3/J1E. SES-K3/4/11F.SES-G5-GelLow Si anode –NCM811High Si /Li-Metal – NCM811Graphite anode- LFP Si/Gr anode-LCO or NCMGraphite anode - LFP Graphite anode - LCOEV Drones/UAMHeavy-duty TruckingConsumer Electronics, EVESS or EVConsumer ElectronicsBetter RT cycle life and 60ºCstorageBetter RT cycle life and C-rateBetter LT cycle life and C-rate Better RT and 45ºC cycle lifeBetter RT cycle life, 60ºC storage and -20ºC C-rateBetter RT cycle life and45ºC storage Molecular Universe has already discovered 6 novel electrolyte materials across multiple applications SES electrolyte outperformed commercial electrolyte reported in SOTA 80 85 90 95 100 105 110 0 500100015002000 Capacity Retention (%) Cycle number CA TL El ectro lyte (patent-pendi ng)SES ElectrolyteSOTA baseline 80 85 90 95 100 105 0100200300400500600 Capacity Retention(%) Cycle number S8-4AhS8.62BSOTA commercial electrolyteSES S8.62 Energy density: 360 Wh/kg 65 70 75 80 85 90 95 10 0 010 020 030 040 050 060 0 Capacity Retention(%) Cycle No. S8-4Ah S8.62B SOTA commercial electrolyteSES S8.62 Develop electrolytes to enable >20% cycle life improvement over commercial benchmark under 1C/1C and 4C/1C for 100%Si battery chemistry 60 65 70 75 80 85 90 95 100 05001000150020002500 Cycle Life(% of C/3 C/3) Cycle number K2K3.1-C lK3.1-C electrolyte demonstrates further increased cycle life compared to SOTA baseline electrolyte at 4C-4C cycling condition lCells are currently still cycling SES K3.1CSOTA baseline K2 -3V (-1C) at 25°C -3V (1C-1C) at 45°C SES I3-K and J1.26 electrolytes demonstrate better stability than SOTA baseline electrolytes under high voltage charge (4.4V/4.45V) and fast charge (4C) 80 85 90 95 100 0100200300400500600700800 Cycle Life(%) Cycle Number I2 I3- KSOTA baseline I2SES I3-K SES Lot 3/Lot 10 are the most promising, compared to SOTA baseline-10. 00 %0.00%10.00%20.00%30.00%40.00%50.00% L1 L1- G5 thickness variation/%GroupCel l1cel l 2 SOTA baseline L1SES G5 Gel+L1 SES G5 Gel+L1SOTA baseline L1 80 85 90 95 100 105 020040060080010001200 Capacity retention (%) Cycle number L1L1_G5 70.00%75.00%80.00%85.00%90.00% L1 L1- G5 capacity retention rate/%GroupCel l1cel l 2 919293949596979899100101 020040060080010001200 Capacity retention (%) Cycle number L1_G 5L1 In terms of capacity retention, gel electrolytes demonstrate better stability than liquid electrolytes at 1C-1C at 25℃ and 45℃ as well as high temperature storage, SES electrolyte outperformed SOTA baseline 85 87 89 91 93 95 97 99 1201401601801100112011401 Cycle Life(%) Cycle Number ~1310 cyc @ 85% retention~12.5% increase in estimated cycle life SOTA baseline J1SES J1.26 SOTA baseline L1SES G5 Gel+L1 SES G5 Gel+L1SOTA baseline L1 Materials (materials breakthroughs discovered through Molecular Universe SaaS) 9
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High energy density: up to Capacity beyond 1 million cells/year Customized to meet customer requirements Certification: UN38.3, UL1642, IEC 62133, etc. ✓ ✓ ✓ ✓ 280 320 360 400 440 480 520 0 2 4 6 8 10 12 Energy Density @ 0.2C (Wh/kg) Max. Continuous Discharge Current (C-Rate) H10M Li-Metal, 500Wh/kg H10H Hybrid, 430Wh/kg H10E High Si, 400Wh/kg H10B High Si, 375Wh/kg H1 0P High Si, 350Wh/kg H10PL Medium Si,340Wh/kg H10UP Medium Si, 320Wh/kg M=Metal H=Hybrid E=Energy B=Balanced P=Power PL=High Power Long Life UP=Ultra High Power Drones (manufacturing partnership with Top Material) Supplying High Energy and Power Density and NDAA-compliant Li-Metal and Li-ion Cells • High Energy Density: up to 500 Wh/kg • High Power Density: up to 10C continuous • With materials discovered through Molecular Universe • NDAA-compliant own manufacturing capacity: 1m cells/year (can scale up) • 3rd party contract manufacturing capacity: 10m cells/year (can scale up) Chungju, KORBoston, USA SES AI HQ,R&D SES AI NDAA-compliant Cell Production 3rd party Contract mfg 10 Current Li-ion
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11 Why Molecular Universe is the best battery domain AI4Science platform Repeat the old ways—or accelerate discovery with Molecular Universe, an AI4Science SaaS platform covering the complete end-to-end workflow. It has already helped users discover several breakthroughs including battery materials for consumer electronics, drones, energy storage and EV applications. Incubated at a batterycompany, SES Al, since 2017Offers latest high precision and high-speed simulation models, high quality experimental data, and world class domain expertiseAvailable both in cloud (for your convenience) and on-premises (for your security)1 2 3 This is the reality of today’s R&D$200B+ spent8–10year timelines80%failure An Al4Science Platform Built by Battery Professionals, for Battery Professionals
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12 LEVERAGE NEW BUSINESS UNIT LEADERSHIP TO EXECUTE ON ESS AND DRONE CELL OPPORTUNITIES•Experienced industry veteran leading commercial and military drone and urban air mobility initiatives as well as ESS software integrationof battery health monitoring•New sales lead experienced insellingmilitarycustomersEXECUTE ON CONVERSION OF NDAA-COMPLIANT LINE IN KOREA FROM EV CELLS TO DRONE CELLS WITH TOP MATERIALS PARTNERSHIP•Expansion of existing capacity from ~300K cells/year to ~1M cells/year expected in second half of 2026•Additional capacity available for non-US of ~10M cells/year through contract manufacturingCONTINUE GROWTH OF UZ ENERGY’S EXISTING HARDWARE BUSINESS IN AUSTRALIA, MIDDLE EAST, EUROPE AND U.S. DELIVER ON EXISTING NOVEL ELECTROLYTES DISCOVERED BY MOLECULAR UNIVERSE IN MATERIALS BUSINESS WITH HISUN JV AND CONTINUE TO EXPAND PIPELINE•Six electrolyte discoveries are currently in commercial qualification withapipelineof~30othersleadingtomorevisibilitybeyond2026 LEVERAGE MOLECULAR UNIVERSE MATERIAL DISCOVERY TO ACCELERATE NEW PRODUCT DEVELOPMENT AND BUILD FURTHER LEAD OVER COMPEITTION FOCUS ON CAPEX-LIGHT BUSINESS MODEL IN ESS, CELLS AND MATERIALS WITH R&D CONCENTRATED IN MOLECULAR UNIVERSE PRIORITIESFOR2026ANDBEYOND
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13 All-inonAITM