Ceres Power Holdings Plc · LSE:CWR
Ceres Power — Shareholder Meeting (2025)
18 slides from Ceres Power's shareholder meeting presentation, 2025
Slide 1: Business update
Ceres Business update Phil Caldwell - Chief Executive Officer
Slide 2: Leading solid oxide technology for power and green hydrogen
Leading solid oxide technology aan for power and green hydrogen | ee on a : " me Unique IP, >150 patent families, a ; ae licensing business model . ca aa We collaborate with world- leading companies to deliver ne clean energy technology... ...at scale and pace 2 Ceres Power Ltd ©2025. Alll Rights Re
Slide 3: Licensee progress in South Korea, Taiwan, Japan and India
* South Korea - Doosan is progressing towards product launch in 2025 for stationary power systems focused on commercial and data centre applications * Taiwan - Delta, our first licensee for both SOFC and SOEC, is now evaluating factory designs to target the growing data centre and industrial hydroge
Slide 4: Financial highlights: record revenue and order intake
Financial highlights: record revenue and order intake For the year ended 31 December 2024 Revenue £51.9m 2023: £23.2m, up 132% Gross margin 77% 2023: 61% Cash and short-term investments £102.5m Dec 2023: £140.0m Cash outflow £37.5m Dec 2023: £42.4m Gross profit £40.2m 2023: £13.6m, up 196% Adjusted
Slide 5: Ceres' clear strategy for growth
Ceres’ clear strategy for growth . * Three manufacturing partners now establishing factories globally Commercial | - we acceleration Balanced business model creates near- and long-term opportunities in power and hydrogen markets ¢« Enhancing digitalisation and modelling to increase durability and to
Slide 6: Our IP addresses the needs of industrial decarbonisation
Our IP addresses the needs of industrial decarbonisation Meeting the need for cleaner power now while positioning for a hydrogen future » = 4° SOFC target markets Al-driven data centres sare Distributed power DOOSAN WEICHAL /\ neta High efficiency energy conversion at low cost Shipping SOEC target m
Slide 7: Our licensing model - progression towards royalty revenues
Our licensing model - progression towards royalty revenues Inflection point is driven by mass market scale of partner manufacturing vA N \ / Future licensees | SOEC factory { and manufacturing) production \ capacity \ SOFC factory \ / production Siu C2res hydrogen A NNELTA @ Royaities @ Licence fees
Slide 8: Power progress
Power progress
Slide 9: AI-driven data centres
ee Al-driven data centres: iB & _,, market “oe r >. uy - —EE —s | 21 g
Slide 10: Large, attractive markets for Ceres fuel cells
Large, attractive markets for Ceres fuel cells Global dispatchable power market opportunity for solid oxide is equivalent to 22GW by 2030 Market opportunity by end use case Market opportunity by region 7% 9% Shipping RoW _ 28% 17% Va Industry EMEA 57% China, India and Asia 26% Pacific 39% Commercial
Slide 11: Doosan ready to manufacture in 2025
Doosan ready to manufacture in 2025
Slide 12: Electrolysis progress
Electrolysis progress
Slide 13: Aligned to key markets for hydrogen in industrial decarbonisation
Aligned to key markets for hydrogen in industrial decarbonisation Global electrolyser capacity estimated to be 1,766GW in 2040 Market opportunity by end use case 15% 56% Steel Other Industries 1,766GW 17% Ammonia 12% Sustainable Aviation Fuel Market opportunity by region 24% RoW 14% 1,766GW Europe 1
Slide 14: Clean energy starts with Ceres in partnership with
} e i Clean energy starts with in partnership with
Slide 15: Summary
Summary
Slide 16: Technology provider of choice for decarbonisation
Technology provider of choice for decarbonisation International ecosystem of world-class partners * Strategic collaboration with global partners to achieve scaled cafes deployment of Ceres’ technology 4 »- DOOSAN a * Three cell and stack factories being v4 ia DENSO established concurrently across ke
Slide 17: Business priorities for 2025
Business priorities for 2025 * Doosan to begin start of production soon and we expect sale of first products in H2 2025 * Commercial focus remains on building partner portfolio by signing additional manufacturing and system partners, offsetting Bosch’s strategic decision to step away from SOFC * Tec
Slide 18: Questions
Questions Investor Relations Patrick. Yau@cerespower.com Ceres Power Holdings pic Viking House, Foundry Lane, Horsham RH13 5PX T: +44 (0)1403 273463 | E: info@cerespower.com Cares