Ses Ai Corporation · NYSE:SES
Ses Ai — Ivanhoe Capital Acquisition — SPAC Merger (August 2021)
29 slides from Ses Ai's SPAC merger presentation, Aug 24, 2021
Slide 1: SES Hybrid Li-Metal Batteries Investor Presentation
@ses Beyond Li-ion™ SES Hybrid Li-Metal Batteries INVESTOR PRESENTATION
Slide 2: Disclaimer
DISCLAIMER Sos raed
Slide 3: Disclaimer (Continued)
DISCLAIMER (CONTINUED) nae mere es teasaa s @ses
Slide 4: We Create Hybrid Li-Metal Batteries
We Create Hybrid Li-Metal Batteries That Offer: > The Leading Energy Density of Next Gen Li-Metal > The Manufacturability of Traditional Li-ion > Independently-Tested Performance
Slide 5: Why Hybrid Li-Metal?
ses WHY HYBRID LI-METAL? Conventional Li-ion All-Solid-State Li-Metal SES Hybrid Li-Metal X Energy Density J Manufacturability Solid State Cathode Never Demonstrated at Seale ee J Energy Density x
Slide 6: The First Step-Function Increase in Battery Energy Density Since 1990s
ses THE FIRST STEP-FUNCTION INCREASE IN BATTERY ENERGY DENSITY SINCE 1990S Limetal Winning es] Technologies Are Significantly 7? Smaller and i Lighter Than co i 19805 Their Precedents S g= 1890s Whi ‘Smaller ————
Slide 7: Li-Metal Is the Battery of the Future
ses LI-METAL IS THE BATTERY OF THE FUTURE i-Metal i 260 Wh/kg, 750 Whi Projected 400 Whikg, 1.000 WhiL > Sipensity llustrative BEV range: ~350 miles Illustrative BEV range: -540 miles Most widely manufactured Significantly cheaper b> Cost battery technology today long-term Lifeti 1.000 eyeles Projec
Slide 8: How Do We Get There?
HOW DO WE GET THERE? 1. Technology 2. Manufacturability » @ses
Slide 9: Development of an OEM-Ready Battery
ses DEVELOPMENT OF AN OEM-READY BATTERY power st0™mAh san ean oan woah 100A Layers __S/eljere S081 yore 3021 ayers 3021 ors zosiayers sostayrs Research Development & Engineering Pre-Production Production 2013-2016 2016 = Present 2022 2028" » @ses
Slide 10: Our Demonstrated Performance
ses OUR DEMONSTRATED PERFORMANCE Measured Projected ability 3/4 Layer Multi-Layer (5) Multi-Layer (5+) Nit overcharge external (4 Ah: 370 Wh/kg. 700 Wh (100 Ah A-sample): +400 Wh/kg. >1.000 Whit Demonstrated multilayer ces can be built ‘using L-lon-like assembly process Up t0 779 cycles (70% capacit
Slide 11: Solving the Dendrite Challenge
ses SOLVING THE DENDRITE CHALLENGE SES Hybrid Li-Metal Battery Design Dendrite Formation Is a Key Cause > and Software Helps to: of Cycle Life Decay and Safety Risks ¥ Slow Down Dendrite Growth ¥ Detect Safety Issues Early
Slide 12: SES Hybrid Li-Metal Battery Technology
ses SES HYBRID LI-METAL BATTERY TECHNOLOGY ce <q Wide Format Li-Metal Anode + Ulta thin Li Metal anode manufactured tough a proprietary process ce ite Anode Coating + Mechanical barter to enhance safety A A + Highly manufacturable state-of the-art separator Electrolyte Formula + Lovevoatiity and sef
Slide 13: Safety Further Enhanced Using Our Machine Learning Algorithm
SAFETY FURTHER ENHANCED USING OUR MACHINE LEARNING ALGORITHM
Slide 14: Our Intellectual Property
ses OUR INTELLECTUAL PROPERTY Holistic IP Portfolio With Robust IP Capture Program ee) Materials Cells/Packs/Modules ae = pen * Salt — a Anode: Light * ade ee oe oes We m = beditealee / eee 25 trade secrets, pace) | know-how in each of \ the core areas of the \ ‘ecosys' cena ©) : = Mee Inne Soe Un o
Slide 15: Over Fifteen Thousand Multi-Layer Cells Produced
As of March 2021, SES has produced over fifteen thousand multi-layer Hybrid Li-Metal cells using our Li-ion-like production line =» Oses
Slide 16: SES Hybrid Li-Metal Is the Most Practical Approach to Li-Metal
ses SES HYBRID LI-METAL IS THE MOST PRACTICAL APPROACH TO LI-METAL SES Hybrid Li-Metal All-Solid-State Li-Metal Lithium Metal Anode Enables cc ‘Step-Function increase in nergy Density Coating ‘SES Proprietary Liquid Electrolyte and Anode Coating Increase Safety and Cycle Life SES Hybrid Li Metal Des
Slide 17: A Cost-Effective Approach to Li-Metal Technology
ses A COST-EFFECTIVE APPROACH TO LI-METAL TECHNOLOGY ‘ost Savings Hybrid Li-Metal Technology Provides Greater Certainty of Realizing Significant Li-ion Energy Unproven Li-Metal Producers’) — Density © -F Manufacturing = Producers’ SES Cell Cost Improvements Processes Cell Cost 18%
Slide 18: SES Is Positioned to Become a Leading Next-Gen Battery Provider
ses SES IS POSITIONED TO BECOME A LEADING NEXT-GEN BATTERY PROVIDER The Next Generation of Battery Leaders Will Require... olidPower == “one @ses ee A Path to Manufacturing at Scale CATL icce Panasonic <> swisincso ve @ses
Slide 19: Our Partnership With GM
ses OUR PARTNERSHIP WITH GM Strong History and Relationship with One of World's Most Forward Thinking EV OEMs General Motors Is a Believer in an EV Future... ..And a Close Partner of SES ee enero R&D collaboration March 2021 +Q@ses pen re agreement (JDA) GM Sets Sights On Overtaking y Tes h $27 Bill
Slide 20: Our Partnership With Hyundai
ses | OUR PARTNERSHIP WITH HYUNDAI i Partnership With a Well-Positioned Global Leader in the Future of EVs Hyundai Is Committed to an Electric Future... | ..And Are Believers in SES's Technology December 2020 ——@ resA308 Hyundai Will Only Sell { a Electric Cars By 2040 nyunoel + @)sEs Bloomberg Bune
Slide 21: Partners & Investors
ses PARTNERS & INVESTORS @ HyYunoAl sh KL 1¢KOCH. @ic Technology Ventures GEELY 4 ExSe —~ a GE TANG LITHILIM vertex anne Foxconn = GI ARENA 2 @ses
Slide 22: Our Footprint
ses OUR FOOTPRINT Localized “Build Where We Sell” Strategy Positions SES to Realize Scale in Multiple High-Growth Markets a © snamahas © sips,
Slide 23: Our Roadmap for Success
& EH : : 5 Ses OUR ROADMAP FOR SUCCESS 2027 2028
Slide 24: Our Capacity Projections
ses OUR CAPACITY PROJECTIONS Global Battery Leadership TMM® evs Annually ‘Total capacity by Facility 596 Market Share’! 20226 20236 2024E 20256 2026E 20278 2028E on Pilot m Expansion 1°) = Expansion Sa 2 @ses
Slide 25: Our Revenue Projections
ses OUR REVENUE PROJECTIONS Highly Attractive Growth Profile Leading to Significant Scale by 2028 Revenue Usson unless there noted YoY Revenue Growth (9% $70 $32 $05 = - $0.1 =a = = = = = = Plot Expansion m Expansion 2 @ses
Slide 26: Transaction Overview
ses TRANSACTION OVERVIEW Empowering the Market Leader in Next-Generation Lithium Metal Batteries A Transaction Structure + SES Holdings Pte Ltd. (SES") to combine with a wholly-owned subsidiary of lvanhoe Capital Acquisition Corp. (Wvanhoe") a publicly-lsted Special Purpose Acquisition Corporation (
Slide 27: Risk Factors
ses RISK FACTORS ya tng to SES Hons Pe i SES rat nme attra may sth ey ea ay ga ec te fare SB array hs they ayo ten wah on St ieee ison "00a et ES Hey Pe oa ar the Jn ot nen ed typo fae lc arin lx teh ler Into, ay tpn, Ay ht i lied ns ‘iy ecunscorn n octs ernsdyres p ean a HEA con eer ok wee Sa od cg
Slide 28: Risk Factors (Continued)
ses RISK FACTORS (CONTINUED) atta Posey 1 Wer hed on outiraetal propery porto we unset pt oun propery hs our une and compete potion wuld eh 5 Wemmay beste cli ye ha ou epee coma oman fhe pats “Stn patron nse ter sybase ces ase nese hh ca ae atl fe iyo ‘Stier trp he ommrcasisn our pects ‘isting ur On
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Ivanhoe Capital Acquisition — SPAC Merger (August 2021) on 6ix