Gelion Plc · LSE:GELN
Gelion — H1 FY2026 Earnings Presentation
29 slides from Gelion's earnings presentation, Mar 2, 2026
Slide 1: Gelion: The Sulfur Battery Company
Gelion: The Sulfur Battery Company Interim Results Presentation John Wood Amit Gupta Chief Executive Officer Chief Financial Officer jwood@gelion.com agupta@gelion.com COMMERCIAL IN CONFIDENCE. GELION 2026. MARCH 2026
Slide 2: Important Information & Disclaimer
Important Information & Disclaimer The information contained in this document (“Presentation”) has been prepared by Gelion plc (the “Company”) solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate the Co
Slide 3: Leadership and Technology Advisory
Leadership and Technology Advisory John Wood Amit Gupta Louis Adriaenssens Adrien Amigues Tracy Sizemore Senior Vice President – Global CEO CFO CTO President – Gelion UK & Europe Partnerships Prof. Thomas Maschmeyer Prof. Markus Antonietti Prof. Rachid Yazami Founder, Principal Technology Advisor, T
Slide 4: Who is Gelion?
Who is Gelion? Targeting the cathode materials market of $132bn in 2032¹ with: Global collaborations 200+ global patents TDK 21 Anode 61 Cathode 44 Electrolyte BMS 31 Design/ 56 Manufacturing 1https://www.fortunebusinessinsights.com/industry-reports/cathode-materials-market-101078) MARCH 2026 COMMER
Slide 5: Strategy and Market Opportunity
Strategy and Market Opportunity COMMERCIAL IN CONFIDENCE. GELION 2026.
Slide 6: Business Units
Business Units Integration Solutions Sulfur Recycling MARCH 2026 COMMERCIAL IN CONFIDENCE. GELION 2026. 6
Slide 7: Our goal
Our goal: To establish Gelion’s Sulfur cathode technology as an alternative to incumbent LFP & NMC technologies. MARCH 2026 COMMERCIAL IN CONFIDENCE. GELION 2026. 7
Slide 8: Cathode materials market opportunity
Cathode materials market opportunity 140 132 120 ~ 3x market expansion¹ $USD bn 100 Growth driven by: • Electrification of transport 80 • Grid-scale storage demand • Supply chain diversification 60 44 40 20 0 2025 2032 1https://www.fortunebusinessinsights.com/industry-reports/cathode-materials-marke
Slide 9: What are we doing?
What are we doing? Replacing expensive, toxic critical materials such as Nickel & Cobalt Gelion NES CAM Gelion’s NESTM Sulfur “Drop-In” Solution* Cathode *Example photo used to show intended functionality, not an actual product. Image purchased from iStock. MARCH 2026 COMMERCIAL IN CONFIDENCE. GELIO
Slide 10: Gelion's Nano-Encapsulated Sulfur CAM
Gelion’s Nano-Encapsulated Sulfur CAM Patent protected next-generation sulfur battery technology Eliminates Polysulfide Shuttle Supports high power Low cost Wide temperature range Low expansion/contraction Gelion NES CAM High Sulfur % (Energy density) MARCH 2026 COMMERCIAL IN CONFIDENCE. GELION 2026
Slide 11: Integration
Integration Progress & update • GroupEnergy (Borg) 2 x 2MWh BESS units commissioned and operational • Battery Showcase & Tour event happening in March 2026, NSW government registered to attend • >£17 million of current opportunities in sales pipeline (between identification and proposal stage). • Lo
Slide 12: Recycling
Recycling Progress & update • Established UK testing facility in London • Validated technology at benchtop scale and scaling to larger volumes • Validating unit economics MARCH 2026 COMMERCIAL IN CONFIDENCE. GELION 2026. 12
Slide 13: Status Update
Status Update COMMERCIAL IN CONFIDENCE. GELION 2026.
Slide 14: Delivering on Commercial Commitments
Delivering on Commercial Commitments Progress against 2025 priorities Deliver Gelion’s Cathode Active Materials NES CAM and GEN3 CAM samples delivered to TDK and (CAM) samples to partners to commence QinetiQ respectively. pouch cell prototyping. Added Prof. Rachid Yazami, pioneer of the graphite ano
Slide 15: Delivering on Technological Commitments
Delivering on Technological Commitments Progress against 2025 priorities Initial NES pouch cells successfully manufactured by Commence pouch cell prototyping with partners. TDK with results in line with expectations, GEN3 CAM pouch cells manufactured by QinetiQ. Total ARENA project budget increased
Slide 16: H1 FY2026 Half-year Financial Results
H1 FY2026 Half-year Financial Results COMMERCIAL IN CONFIDENCE. GELION 2026.
Slide 17: Financial Overview
Financial Overview Continued improvement of financial metrics Financial Performance Summary Key Highlights H1 FY25 H1 FY26 • Increase in total income compared to prior period primarily £m Unaudited Unaudited due to higher grant income (ARENA and ARMD4) and Product revenue - - recognition of the rema
Slide 18: Snapshot of financial progress
Snapshot of financial progress *Excludes non-recurring items e.g. capital raise, restructuring and acquisition related costs etc. . MARCH 2026 COMMERCIAL IN CONFIDENCE. GELION 2026. 18
Slide 19: H2 FY26 and CY 2026 – Growth Focus Investments
H2 FY26 and CY 2026 – Growth Focus Investments In 2026 (across FY26 and FY27), Gelion will strategically invest in growth and commercialization opportunities to accelerate our lithium-sulfur battery platform toward market leadership. Initiative Gelion Cost (£) Grant/External Funding (£) Scale CAM ma
Slide 20: Technology and Collaboration Progress
Technology and Collaboration Progress COMMERCIAL IN CONFIDENCE. GELION 2026.
Slide 21: What are we doing?
What are we doing? Catalysing sulfur as a) a specialist Securing leadership in sulfur battery cathode and b) a general technology battery cathode Capital light model via collaborations across the entire supply chain Genuine product market fit Reducing time to market MARCH 2026 COMMERCIAL IN CONFIDEN
Slide 22: 2025 - Technology and Cell Leadership
2025 - Technology and Cell Leadership Catalysing sulfur as a) a specialist battery Securing leadership in sulfur technology cathode and b) a general battery cathode Sulfur Technology Cell Technology & Manufacture TDK IP creation/acquisition: Going capital light via collaborations across the entire s
Slide 23: 2025 - Technology Match to Market: Products
2025 - Technology Match to Market: Products Catalysing sulfur as a) a specialist battery Securing leadership in sulfur technology cathode and b) a general battery cathode Lithium Metal Anode Graphitic/Silicon Anode Room Temperature Sodium-Ion Liquid Electrolyte Solid State Going capital light via co
Slide 24: 2026: Make and Market
2026: Make and Market MAKE Process Development Lithium Metal Anode Graphitic/Silicon Anode Room Temperature Sodium-Ion Sulfur Technology Cell Technology & Manufacture Liquid Electrolyte Solid State MARKET Applications MARCH 2026 COMMERCIAL IN CONFIDENCE. GELION 2026. 23
Slide 25: 2026: Process engineering & materials fabrication
2026: Process engineering & materials fabrication Collaborations to help us scale materials Process Development Core Technology (NES ) PROCESS ENGINEERING Lithiation Sodiation PROCESS ENGINEERING Lithium Metal Anode Lithium-Ion Battery Drop-In RT Sodium Sulfur MARCH 2026 COMMERCIAL IN CONFIDENCE. GE
Slide 26: Collaborations at the application level
Collaborations at the application level Images from iStock. MARCH 2026 COMMERCIAL IN CONFIDENCE. GELION 2026. 25
Slide 27: Collaboration pipeline
Collaboration pipeline Active discussions with multiple global partners across cell manufacturing, process engineering, materials fabrication and end-use applications Focused on structures that leverage partners’ manufacturing footprints while preserving Gelion’s IP and value capture through CAM sup
Slide 28: Upcoming catalysts
Upcoming catalysts H2 FY26 and medium-term priorities Advance Commercial Readiness Expand Strategic Partnerships • Extend TDK Corporation pouch cells into • Progress and execute new collaboration advanced testing & commercial prototypes agreements with potential partners in US, Europe and Asia • Del
Slide 29: Questions?
Questions? Thank you. John Wood Amit Gupta Chief Executive Officer Chief Financial Officer jwood@gelion.com agupta@gelion.com COMMERCIAL IN CONFIDENCE. GELION 2026. MARCH 2026