Slide 1: Ilika – Annual Results July 2025
Ilika – Annual Results July 2025 Annual Results July 2025
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN W HOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AM ERICA, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION W
Slide 3: Ilika at a Glance: Leading Solid State Battery Developer
Ilika at a Glance: Leading Solid State Battery Developer ► Two product lines with diversified end markets in growing sectors ◄ ► Asset light business model with products proven on existing giga scale production equipment ◄ ► 21 years of research & development delivering 78 patents & ready for commer
Slide 4: Ilika: Delivering Commercial Milestones
Ilika: Delivering Commercial Milestones Stereax Stereax equipment Completion of Commencement of Commencement of commissioning engineering lots at M300 product customer product completed at Cirtec Cirtec validation programme delivery H2 2025 H1 2025 Release of P1.5 Release P2 D8 50Ah capacity P1 prot
Slide 5: Ilika Business Model
Ilika Business Model Asset-light licensing model demonstrated on industrially-relevant equipment Battery and assembly supply IP defining materials, IP defining materials, batteries and process batteries and process Manufacturing Development battery sales partners sell OEM partners product to sell pr
Slide 6: Stereax: Global Healthcare Trends & Market Demand
Stereax: Global Healthcare Trends & Market Demand The use of smart electronic Market demand driven by innovation in Active Implantable Medical Devices electroceuticals and sensors (AIMD) is at the forefront of a search $26.9Bn for efficacy and productivity Orthopedics (2024) § Data capture from spin
Slide 7: Stereax: An Enabling Technology
Stereax: An Enabling Technology First Product Stereax M300 Stereax benefits: § Rechargeable § Reduced surgery time § Voltage: 3.5V § Implant located close to point of therapy § Capacity: 300 µAh § Long life in the body § Max pulse current: 3 mA (10C) § User recharge at home § Cycle life: >1000 cycle
Slide 8: Stereax: Partnership for Growth
Stereax: Partnership for Growth Cirtec is a leading global provider of outsourced medical device and components design, engineering and manufacturing 6 1987 >500 800 20 End Uses Foundation Employees Successful PMA/EDI projects approved devices 21 Customers 24 Orders 10-year licence & manufacturing C
Slide 9: Stereax: Licensing Coming Onstream
Stereax: Licensing Coming Onstream Cumulative revenue from Stereax product lines § Income growth derived from Indicative Cumulative multiple revenue streams Revenue § Royalty timelines driven by the certification of medical devices § Industrial IoT addressable at larger volumes Wafer Processing Non-
Slide 10: Enabling further EV sector growth
Goliath: Enabling further EV sector growth Record Electric Vehicles Reasons for not purchasing Sales in 2024 1 an Electric Vehicle 2 18 16 14 Recharging Time 42% Electric Vehicles Sales / Millions 12 10 8 Driving Range 36% 6 4 2 Risk of Battery Fires 21% 0 2020 2021 2022 2023 2024 China Europe Unite
Slide 11: Goliath: Technology Benefits Validated
Goliath: Technology Benefits Validated SSB benefits to OEMs & suppliers Lower Faster Longer cell Enhanced Lower pack production charging life safety weight cost times UK Pack Designers Balance Batteries modelled a hypothetical Hyundai Ioniq 5 pack with Goliath - £2,500 - 6 min Cost effective Weight
Slide 12: Goliath: Ilika's Cutting Edge Solid State EV Battery
Goliath: Ilika’s Cutting Edge Solid State EV Battery EUCAR 6 EUCAR 3 Goliath delivers a safer, lower temperature response without flames to mechanical pouch penetration and shorting. Overview Stereax Goliath Summary 12
Slide 13: Goliath: Scale-up De-risked at UKBIC
Goliath: Scale-up De-risked at UKBIC UKBIC Deliverables: Impact for Goliath: § Successful coating of electrode- § Standardised gigafactory industrial electrolyte composite equipment can be used § Higher manufacturing yield § Reduced manufacturing CAPEX § Higher capacity batteries under faster requir
Slide 14: Bridging the Gap: What to Expect
Bridging the Gap: What to Expect D5 delivered with exemplary D8 50Ah capacity reached safety data P1.5 2nd Gen customer P1 prototype released to prototypes to be customers released D6 10Ah 1.5MWh assembly capacity line installation to reached be completed P2 50Ah 3rd Gen customer prototypes 2024 202
Slide 15: Goliath: Ilika Scale-up Plan and Business Model
Goliath: Ilika Scale-up Plan and Business Model Overview Stereax Goliath Summary 15
Slide 16: Commercial Traction & Indicative Revenue Build Up
Goliath: Commercial Traction & Indicative Revenue Build Up Revenue from Goliath product lines 4 Applications Cumulative Revenue • Automotive (15) • Consumer 21 (3) Customers • Aerospace • UK (5) (2) • EU (8) • Tier 1 (1) • USA (4) • ROW (4) 2026 Non Reccurring Battery Royalty Licence Issuance Grant
Slide 17: Summary: A Bridge to Commercialisation
Summary: A Bridge to Commercialisation Asset light business Stereax licence Commercial Stereax Patented solid-state In-house fabrication model adopted to agreement in place products in production battery technology capability and Goliath deliver and relationships in and Goliath prototypes developed
Slide 18: Shaping our Investment Case
Shaping our Investment Case Solid-state battery technology; growing patented portfolio across multiple jurisdictions Diversified across two markets with near-term route to commercialisation, reducing execution risk In-house, purpose built, fabrication facilities and partnerships drive and validate s
Slide 19: Appendix
Appendix Ilika – Annual Results July 2025
Slide 20: Seasoned Management Team
Seasoned Management Team Board and Management Team Offers a Wealth of Diversified Experience Across Multiple Industries Graeme Purdy Jason Stewart Keith Jackson Jeremy Millard Monika Biddulph Louise Turner John Tinson Chief Executive Officer Chief Financial Non-exec Chairman Non-Executive Director V
Slide 21: ESG
ESG ESG is of utmost importance to Ilika and is monitored at board level • We continue to remain ahead of reporting requirements through our commitment to ESG • Integration of most material items to business risk registers • ISO 14001, ISO 9001, Carbon Reduced Organisation • Long Range Strategic Pla
Slide 22: Stereax: Ilika's Unique Miniature Battery
Stereax: Ilika’s Unique Miniature Battery First Product Stereax M300 • Rechargeable • Voltage: 3.5V • Capacity: 300 µAh • Max pulse current: 3 mA (10C) • Cycle life: >1000 cycles (50% DoD) Overview Stereax Goliath Summary 22
Slide 23: Goliath: Regulatory Driven Uptake
Goliath: Regulatory Driven Uptake 1 – climateactiontracker.org Overview Stereax Goliath Summary 23 2 – gov.uk
Slide 24: Goliath: Solid State Battery Technology
Goliath: Solid State Battery Technology Sulfide Electrolyte Oxide Electrolyte Polymer Lithium Anode Silicon Anode Anode-less Electrolyte +High ionic +Stable in air +High ionic +Constant cell +Longer cell life +Cheaper than conductivity conductivity voltage lithium anode – More difficult to +Less exp
Slide 25: Addressable Market
Goliath: Addressable Market Ilika Targets Performance Market1 Attractive SSB Market Forecast2 1,400 Goliath Market ce , rm a n 1,200 Entry Point p e rfo H igh ia li z e d TAM 183.3 GWh sp ec s catio n Cell Energy (Wh/I) 1,000 ap p li me 800 v o lu n ce gh a H i rfo rm pe 600 t ry 400 E n , lo w el l