Slide 1: Transforming Electric Mobility
Transforming Electric Mobility Investor Presentation August 2022
Slide 2: Disclaimer
DISCLAIMER INDUSTRY AND MARKET DATA Although all information and opinions and or other information expressed in this presentation (this “Presentation”), including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Amprius
Slide 3: Disclaimer (Cont.)
DISCLAIMER (CONT.) IMPORTANT INFORMATION FOR INVESTORS AND SHAREHOLDERS This communication is being made in respect of the proposed transaction involving Kensington and Amprius. A full description of the terms of the transaction is provided in the registration statement on Form S-4, initially filed
Slide 4: Transaction Overview
TRANSACTION OVERVIEW Transaction Overview Sources Pro Forma Valuation Uses Illustrative Pro Forma Ownership Notes: Assumes no redemptions from Kensington’s public shareholders. Assumes equity capital is issued at $10.00 per share. Excludes the impact of Kensington’s warrants (public or private). (1)
Slide 5: We Enable the Future of Electric Mobility Today
We Enable the Future of Electric Mobility Today Innovation 100% silicon anode battery(1) Superior Battery Performance ▪ High Energy Density Up to 450 Wh/kg(2) and 1,150 Wh/L(2)(3) ▪ High Power Density Up to 10C ▪ Fast Charge Rate Capability 80% charge in <6 minutes ▪ Wide Operating Temperature -30°C
Slide 6: Technology Innovators and Experienced Business Operators
Technology Innovators and Experienced Business Operators Core Operational and Technical Team has been at Amprius for 10+ Years DR. KANG SUN SANDRA WALLACH JON BORNSTEIN DR. IONEL STEFAN DR. WEIJIE WANG RONNIE TAO AARON BAKKE Chief Executive Officer and Chief Financial Officer Chief Operating Officer
Slide 7: Track Record of Creating Significant Public Shareholder Value
BOARD AND INVESTORS Track Record of Creating Significant Public Shareholder Value Board of Directors • Kensington Capital Acquisition Corp. IV (NYSE: KCAC.U) is a Special Purpose Acquisition Company (“SPAC”) with $230 million of cash held in trust focused DON DIXON DR. STEVEN CHU DR. WEN HSIEH DR. K
Slide 8: Turning a Transformational Technology Into a Commercial Reality
COMPANY DEVELOPMENT Turning a Transformational Technology Into a Commercial Reality GWh Scale Project Development Initiated in 2021 2021 Customer Orders & Commercial Sales in 2018 KWh Scale 2018 Manufacturing Silicon Nanowire in 2016 Founded in 2008 Design Finalized Fully Operational in 2014 2016 in
Slide 9: High Performance Battery Offerings
AMPRIUS AT A GLANCE High Performance Battery Offerings Commercially Available Today and Validated by Blue Chip Partners 2008 Up to 80% 100% Founded in Higher Energy 75 Silicon Anode with Headquarters in Density than Patents(2) Technology(1) Fremont, CA Conventional Batteries ~250 KWh 30+ 10,000+ Com
Slide 10: Nanowire Anode Silicon Particles
GRAPHITE VS. SILICON Why Silicon? 100% Silicon Anode(1) Has ~10x Capacity vs. Graphite Silicon anode can swell up to ~300% causing battery damage after a few cycles Actual Anode Capacity Before Cycling After Cycling Silicon Particles Broken silicon particles Anode 3,400 mAh/g Silicon particles fail
Slide 11: Amprius Solved the #1 Problem with Silicon Anodes
SILICON ANODE STRUCTURE Amprius Solved the #1 Problem with Silicon Anodes 100% Silicon Nanowires(1) Allow Volume Expansion without Binders, Graphite or any Inactive Materials SILICON SURFACE Silicon Nanowires Conventional Graphite SILICON COATING (and/or Silicon) Particles COATING SILICON NANOWIRE T
Slide 12: Amprius' Anode is a Drop-in Replacement for Lithium-Ion Batteries
GRAPHITE VS. SILICON Amprius’ Anode is a Drop-in Replacement for Lithium-Ion Batteries Conventional Graphite Battery Amprius Silicon Anode Battery Current Collector Lithium Ion Graphite Anode Current Collector ` Silicon Anode is a Thinner, Direct Replacement Separator Separator Lithium Ion Higher Ca
Slide 13: Amprius' Battery Cells Today Outperform Graphite Batteries
INCUMBENT TECHNOLOGY VS. AMPRIUS Amprius' Battery Cells Today Outperform Graphite Batteries Graphite Anode Performance Metric (3) Battery Cells(1) Anode Capacity (mAh/g)(1)(2) 335-355 1,500-2,500 Specific Energy (Wh/kg) ~215-285 360-500 Energy Density (Wh/L) ~530-715 890-1,400 Charging Time to 80% 3
Slide 14: Amprius Batteries Deliver Twice the Mission Time
RELATIVE PERFORMANCE Amprius Batteries Deliver Twice the Mission Time Battery Cell Energy Density 24min FLIGHT TIME(3) GRAPHITE GRAVIMETRIC VOLUMETRIC AMPRIUS 42min 1,150 Wh/L 3h 6min TALK TIME(4) 5h 40min 700 8h 12min MISSION TIME(5) Wh/L 450 17h 48min Wh/kg 260 Wh/kg 310 miles RANGE(6) 547 miles G
Slide 15: Amprius Utilizes Existing Commercial Manufacturing Processes
MANUFACTURING PROCESS Amprius Utilizes Existing Commercial Manufacturing Processes Cathode and Assembly Processes are Unchanged; the Only Change is to the Anode Manufacturing Line SILICON NANOWIRE ANODE SILICON NANOWIRE ANODE BATTERY ASSEMBLY BATTERY CATHODE Slitting Stacking Formation SILICON NANOW
Slide 16: Equipment Designed for GWh-Scale Production
HIGH-VOLUME MANUFACTURING TOOL Equipment Designed for GWh-Scale Production Large-Scale Anode Tool Leveraging Commercially-Used Solar Production Technology • • (1) https://www.centrotherm.de/ 16
Slide 17: U.S. High-Volume Manufacturing Facility
PLANNED HIGH-VOLUME MANUFACTURING FACILITY U.S. High-Volume Manufacturing Facility Key Criteria Top Locations Identified Amprius Headquarters and Pilot (KWh) Scale Commercial Manufacturing Facility Rendering of High-Volume Manufacturing Plant GEORGIA TEXAS 17
Slide 18: Uniquely Positioned to Address the Aviation and EV Markets
TARGET MARKETS Uniquely Positioned to Address the Aviation and EV Markets Market Segment Amprius Advantage TAM – 2025 Unmanned Aerial Systems (“UAS”)(1) Ultra-high gravimetric and volumetric energy Drones for delivery, imaging, and military, including high altitude pseudo satellites (“HAPS”) density
Slide 19: Applications Enabled by Amprius' Batteries
TARGET MARKETS Applications Enabled by Amprius’ Batteries Unmanned Aerial Systems High Altitude Pseudo Air (Drones) Satellites Transportation Product Application Recon Drone Stratospheric Satellite eVTOL(1) Amprius Product Performance Specification Very long endurance extreme-fast charge at high End
Slide 20: Amprius Batteries Have Been Validated by Industry Leaders
BLUE CHIP PARTNERS Amprius Batteries Have Been Validated by Industry Leaders Commercial shipments since 2017 Amprius has enabled Airbus to set World Nine development programs Records for HAPS endurance and flight Amprius is designed into Airbus’ HAPS platform Commercial shipments in 2022 with Airbus
Slide 21: Expand Production Capacity to Support Customer Growth
USE OF PROCEEDS Expand Production Capacity to Support Customer Growth What we have What’s next Disruptive Technology High-Volume Manufacturing Commercial Meet growing demand Customer Wins Enable new customer wins Reduce costs with scale Pilot (KWh)-Scale Manufacturing Expand market applications 21
Slide 22: Transaction Overview
AMPRIUS & KENSINGTON Transaction Overview Overview • • • Capital Structure • • • − Valuation • • Kensington has identified Amprius as a unique and compelling investment opportunity – Amprius has developed and is presently manufacturing a commercial silicon nanowire anode battery technology that is e
Slide 23: Overview of Kensington Capital Acquisition Corp. IV
OVERVIEW OF KENSINGTON CAPITAL ACQUISITION CORP. IV Kensington Overview • • • • • • • • Board Members Board Members • • • • • • 23
Slide 24: Amprius Fulfills Kensington's Investment Objectives
AMPRIUS FULFILLS KENSINGTON’S INVESTMENT OBJECTIVES 24