Ses Ai Corporation · NYSE:SES
Ses Ai — SES Holdings — SPAC Merger (July 2021)
22 slides from Ses Ai's SPAC merger presentation, Jul 13, 2021
Slide 1: SES Cell Electrical Test
E*ponent’ 2102937.000 - 6860 SES Cell Electrical Test Binghong (Alex) Han, Ph.D., P.E. Jonathon Harding, Ph.D., P.E. Zhuhua Cai, Ph.D., P.E. May 07, 2021
Slide 2: Scope
——————————— | Scope * Exponent was retained to assist in evaluating the performance of secondary lithium-metal cells produced by SES when discharged at various rates * Exponent received three (3) cells from SES for testing * Exponent performed the following analyses: 2102937.000 - 6860 Open circuit
Slide 3: Cycling Test Summary (1/2) - Discharge at Different Rates
Cycling Test Summary (1/2)- Discharge at Different Rates @ * All three cells finished the capacity check cycle and discharge cycles up to 7C The highest measured cell temperatures during the 7C high-rate discharge in the 40 °C, 25 °C, and 0 °C tests are 81.8 °C, 78.5 °C, and 45.7 °C, respectively *
Slide 4: Cycling Test Summary (2/2) - Discharge Profile Comparison
a=) Cycling Test Summary (2/2)- Discharge Profile Comparison e Discharge at 0.1C. e Discharge at 0.33C e Discharge at 1C s Discharge at 2C © ic ic © & & £ & 20) 2) a) a ° ol 0 40 40 = = = 36) _— Coll 1 @40°C 35) — Coll 1 @40"C —— Cell 2 @25°C — Coll 2 @25"C 30) — co's @orc 30) — con's gore 25) 25 00
Slide 5: Fast-charging Test Summary
SSS Fast-charging Test Summary @ Cell 2 @25°C Charge at Different Rates * The cell successfully completed the capacity check cycle and the 4C 70 fast-charge cycle * Charging from 10% to 80% of the nominal capacity at 4C took 10.5 ory minutes § * The maximum voltage reached during fast charging was 4
Slide 6: Cell Intake Visual Inspection
Cell Intake Visual Inspection @ ° Exponent received 3 SES pouch cells (identified here as “Cell 1” to “Cell 3”) * No notable exterior defect was observed after visual inspection of all three cells Cell 1 Cell 2 * BES Fp06145002 | _ FB06.45004] oe <a), , | 2102937.000 - 6860
Slide 7: Cell Intake Measurements
Cell Intake Measurements ¢ Exponent measured 1 kHz AC Impedance (ACImp), open-circuit voltage (OCV), thickness, and mass for each cell at intake, and the results are shown below * The0.1C discharge capacity and energy reported here is based on the discharge during the capacity check cycle (described
Slide 8: Electrical Test Setup
SSS Electrical Test Setup * Cells were clamped into test fixtures provided by SES, following the instructions provided by SES * The cells were centered and sandwiched between the plates. The bolts were tightened using a torque wrench to apply 5 rs ~~ pound-force-inches to secure the cell inside the
Slide 9: Cycling Test Results
Cycling Test Results
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Slide 11: Cycling Test Summary
RRA Cycling Test Summary The highest measured cell temperatures during the 7C high-rate discharge in the 40 °C, 25 °C, and 0 °C tests are 81.8 °C, 78.5 °C, and 45.7 °C, respectively * The maximum recorded temperature was always on the positive tab _ 10! The discharge capacity during the 7C high-rate
Slide 12: Result Table
ee Result Table * Asummary of the cycling test results on all three cells is shown below if if Cell 1 @ 40°C Cell 2 @ 25°C Cell3@0°C : Wax. Max. Cycle ch Disch Charge Discharge Charge Discharge Discharge Name Rate Rate Cap. Frorgy | Max. | Cap. Fnergy can. | Cap. Max. T. Cap. Max. 7. tah} wh} | fC}
Slide 13: Charge and Discharge Profiles for Cell 1 @ 40 °C (1/2)
Re Charge and Discharge Profiles for Cell 1 @ 40 °C (1/2) * The capacity check cycle and the 0.1C, 0.33C, and 1C discharge cycles of Cell 1 at 40 °C are shown below Cell 1 @40°C Capacity Check Cycle Cell 1 @40°C 0.1C Discharge Cycle © 46{ — Positive-Tab © 46[ — Positve-tab 4g] Between-Tab © gq] —— B
Slide 14: Charge and Discharge Profiles for Cell 1 @ 40 °C (2/2)
Re Charge and Discharge Profiles for Cell 1 @ 40 °C (2/2) @ * The 2C, 3C, 5C, and 7C discharge cycles of Cell 1 at 40 °C are shown below Cell 1 @40°C 2C Discharge Cycle Cell 1 @40°C 3C Discharge Cycle 9 4 — PostverTab —Postive-Tab a4| — Between-Tab — Between-Tab — Negative-Tab — Negative-Tab i: — Am
Slide 15: Charge and Discharge Profiles for Cell 2 @ 25 °C (1/2)
Re Charge and Discharge Profiles for Cell 2 @ 25 °C (1/2) @ * The capacity check cycle and the 0.1C, 0.33C, and 1C discharge cycles of Cell 2 at 25 °C are shown below Cell 2 @25°C Capacity Check Cycle Cell 2 @25°C 0.1C Discharge Cycle & 30 — Positive-tab & 30 — Positive-tab 2a} —— Between-Tab 2a} ——
Slide 16: Charge and Discharge Profiles for Cell 2 @ 25 °C (2/2)
Charge and Discharge Profiles for Cell 2 @ 25 °C (2/2) * The 2C, 3C, 5C, and 7C discharge cycles of Cell 2 at 25 °C are shown below Cell 2 @25°C 2C Discharge Cycle Cell 2 @25°C 3C Discharge Cycle § x5[ — PostveTab & ag[ — Postve Tab ©, | — Betweon-Tab § | — Between-Tab 3 | — Negative-Tab 2 2] — Nega
Slide 17: Charge and Discharge Profiles for Cell 3 @ 0 °C (1/2)
Re Charge and Discharge Profiles for Cell 3 @ 0 °C (1/2) * The capacity check cycle and the 0.1C, 0.33C, and 1C discharge cycles of Cell 3 at 0 °C are shown below Cell 3 @0°C Capacity Check Cycle Cell 3 @0°C 0.1C Discharge Cycle 2 6[ — Positve-Tab & 6| — Positive-rab © 4| —— Between-Tab | —— Between
Slide 18: Charge and Discharge Profiles for Cell 3 @ 0 °C (2/2)
Re Charge and Discharge Profiles for Cell 3 @ 0 °C (2/2) @ * The 2C, 3C, 5C, and 7C discharge cycles of Cell 3 at 0 °C are shown below Cell 3 @0°C 2C Discharge Cycle Cell 3 @0°C 3C Discharge Cycle 5 of — Power 5 1p — PetveTem 9) — tnmwean Tab ¢| — Between Tap 3 6| — Negatwe-Tab 2 S| — seco Tb 3 3| —
Slide 19: Fast-charging Test Results
Fast-charging Test Results
Slide 20: Fast-charging Test Protocol
SSS Fast-charging Test Protocol + Initial discharge Constant current discharge at 0.1C (0.42 A) until voltage = 2.5 V for conditioning Rest for 10 mins * Capacity check cycle Constant Current Charge at 0.33C (1.4 A) until Voltage = 4.3 V Constant Voltage Hold at 4.3 V until Current < 0.05C (0.21 A)
Slide 21: Fast-charging Test Results
Fast-charging Test Results * The capacity check cycle and the 4C fast-charge cycle of Cell 2 at 25 °C are shown below, as well as a summary table of the electrical test results Cell 2 @25°C Capacity Check Cycle Cell 2 @25°C 4C Fast-Charge Cycle — Positive-Te S 32[ — Positive-Tab 57 ‘g 30/ — Between-
Slide 22: Limitation
ee Limitation ¢ The purpose of this report was to communicate Exponent’s findings in cell performance examination results on Cells provided by SES. * In the analysis, we have relied on material samples and information provided by SES. We cannot verify the correctness of this input, and rely on SES f