Slide 1: Q4 2024 Company Update
Q4 2024 Company Update 1
Slide 2: Forward-looking statements
Forward-looking statements ABOUT THIS PRESENTATION This presentation is provided by Oklo Inc. (“Oklo”) for informational purposes only. The information contained herein does not purport to be all inclusive and no representations or warranties, express or implied, are given in, or in respect of, this
Slide 3: Our mission is to provide clean, reliable, and affordable energy
Our mission is to provide clean, reliable, and affordable energy on a global scale. 3
Slide 4: The new administration is making nuclear power a priority
The new administration is making nuclear power a priority for American energy abundance “The long-awaited American nuclear renaissance must launch during President Trump’s administration. As global energy demand continues to grow, America must lead the commercialization of affordable and abundant nu
Slide 5: Oklo is positioned to address power demand needs across multiple end markets
Oklo is positioned to address power demand needs across multiple end markets A.I. Data Centers Are A Significant Contribution to Power Demand Growth... (1) ... Expanding to ~275 TWh of Power Use Even with Improvements in Efficiency ...(2) Composition of US Power Demand CAGR, 2022-2030, % A.I. Power
Slide 6: Oklo competitive advantages
Oklo competitive advantages Attractive Build, Own, Operate Business Model Selling power, not power plants, directly to customers under long- term contracts provides recurring revenues and a streamlined regulatory pathway. Technology Modern, Small-Scale Design Our small, scalable designs combine the
Slide 7: Key milestones achieved in 2024
Key milestones achieved in 2024 • Equinix signed LOI for 500MW of power and made $25M pre-payment • Signed LOI with Diamondback Energy for 50 MW of reliable, advanced fission power to support sustainable energy solutions in the oil and gas industry • Oklo began trading on the New York Stock Exchange
Slide 8: Oklo quarterly progress framework
Oklo quarterly progress framework Project Execution Reactor Licensing Progress Fuel Fabrication & Recycling • Progress on project development, • NRC pre-application engagement • Commercialization milestones construction and operations • Combined license applications (COLAs) • Fuel fabrication facili
Slide 9: Oklo quarterly progress update
Oklo quarterly progress update Project Execution Reactor Licensing Progress Fuel Fabrication & Recycling ✓ Expanding power output of our ✓ License Operator Topical Report ✓ Lightbridge collaboration 50MWe to 75MWe submission ✓ Advanced materials partnership with ✓ Pre-application for Atomic Alchemy’
Slide 10: Oklo's reactor platform now scales up to 75 MW
Project Execution Oklo’s 50 MW reactor platform now scales up to 75 MW to meet growing AI data center demand Aurora Design Architecture • Oklo’s 50 MW platform offers flexibility in power output • This platform can flexibly deliver between 15 MW and 75 MW • Maintaining streamlined supply chain and r
Slide 11: INL Powerhouse: NRC licensing developments
Regulatory Licensing Progress INL Powerhouse: NRC licensing developments INL Powerhouse licensing milestones achieved ✓ Engaged with the NRC in a Pre-Application Readiness Assessment to streamline licensing for the Aurora powerhouse. ✓ Submitted the Licensed Operator Topical Report to enable fleet-b
Slide 12: Business model makes costly Design Certification approach unnecessary
Regulatory Licensing Progress Oklo’s business model makes the costly Design Certification regulatory approach used by competitors unnecessary Nuclear Power Plant Requirements What is included in each regulatory review path? NRC Reviews Required for the Construction & Operation of a Nuclear Power Pla
Slide 13: Integrated business model enables a streamlined regulatory pathway
Regulatory Licensing Progress Oklo’s integrated business model enables a streamlined regulatory pathway Typical Part 50 Construction Permit Operating License Construction Operate “2-part” License 24-36 Months 24-36 Months Expected 48-72 Months(2) A Recent Part 52 Design Certification Standard Design
Slide 14: Oklo's regulatory progress for INL Powerhouse
Regulatory Licensing Progress Oklo’s regulatory progress for INL Powerhouse NRC regulatory steps for Oklo’s R-COLA DOE Regulatory Steps for Siting Complete: Issue licensing project plan Site Use Permit Complete: Quality assurance program description for design and Formal siting request for DOE appro
Slide 15: NRC advancing implementation of the ADVANCE Act
NRC advancing implementation of the ADVANCE Act ADVANCE Act Benefits (1) Reduced Fees Proposed(2) • Reduces Fees • The NRC has proposed reducing the hourly rate for advanced nuclear reactor applicants from $323 to • Shortens Timelines $146 — nearly a 55% decrease. • Overwhelming Bipartisan Support •
Slide 16: Strategic Collaborations to Advance Fuel Fabrication & Recycling
Fuel Fabrication & Recycling Strategic Collaborations in Place to Advance Fuel Fabrication & Recycling Key Highlights • MOU Signed: Oklo and Lightbridge to explore co-location of commercial fuel fabrication facilities Lightbridge • Advanced Fuel Recycling: Collaboration to optimize advanced fission
Slide 17: Powerhouses offer best product-market fit for data center customers
Customer Pipeline Oklo powerhouses offer the best product-market fit for data center customers compared to alternative solutions Modular Speed to Market Cost Competitive 50MW-75MW Powerhouse size Bringing advanced nuclear to Cost oriented reactor design and increases efficiencies and can be market f
Slide 18: Powerhouses installed in parallel with data center construction
Customer Pipeline Powerhouses can be installed in parallel with a data center’s phased construction timeline Phase 3 > 1,000 MW Data Center Phase 2 Phase 1 500 MW Data Center 250 MW Data Center Data Centers Oklo Powerhouses 18
Slide 19: Multi-Powerhouse projects provide data centers with >99% reliability
Customer Pipeline Multi-Powerhouse projects can be built with back-up units, providing data centers with >99% reliability Large Nuclear Reliability is Critical for AI Data Center Customers Back-Up • Data centers run 24/7, requiring constant power to Powerhouse process and store vast amounts of data.
Slide 20: Switch 12 GW power agreement
Customer Pipeline Oklo secured one of the largest corporate power agreements in history with Switch for 12 GW Switch is a leader in data center sustainability and believes nuclear is critical of A.I. data centers • Signed a 12 gigawatt Master Power Agreement (MPA) in December, 2024 • Powerhouses to
Slide 21: Risk mitigated approach to customer acquisition and project execution
Customer Pipeline Oklo is taking a comprehensive risk mitigated approach to major customer acquisition and project execution Establishes framework for Establishes framework for Binding agreements for site Indicative Terms in overall customer partnership binding agreements specific projects Master Ag
Slide 22: Customer pipeline has grown significantly in the last 18 months
Customer Pipeline Oklo’s customer pipeline has grown significantly in the last 18 months primarily due to A.I. data center demand Oklo Customer Pipeline (MW) Pipeline Summary ~14GW • Oklo has signed Master Power Agreements and Term Sheets with customers across all customer segments • Oklo is taking
Slide 23: Oklo and RPower partnership: natural gas bridge to nuclear
Corporate & Business Development Oklo and RPower form a partnership to provide data centers with a natural gas bridge to nuclear power Time to market is a critical priority for data center customers. RPower Overview Oklo and RPowers’ solution enhances time to market by providing natural gas as a bri
Slide 24: Completion of Atomic Alchemy acquisition
Corporate & Business Development Completion of Atomic Alchemy acquisition enhances Oklo’s industry leading nuclear technology platform Successfully completed the strategic acquisition of Atomic Alchemy for nearly $25 million in February 2025 Transaction results in less than 1% dilution to existing O
Slide 25: Atomic Alchemy Acquisition Highlights
Corporate & Business Development Atomic Alchemy Acquisition Highlights Massive Market Demand with • The radioisotope market is estimated to be in excess of $55B by 2026 (1), with other sectors growing rapidly Limited Supply • Aging radioisotope facilities are causing acute shortages in supply for cr
Slide 26: Welcoming our new board appointees
Welcoming our new board appointees Sam Altman Jacob DeWitte Caroline Cochran Michael Thompson Chairman of the Board of Directors Co-Founder and CEO Co-Founder and COO Lieutenant General Daniel Poneman Michael Klein Richard Kinzley (Ret.) John Jansen 26
Slide 27: Key 2024 Financial Highlights
Financials Key 2024 Financial Highlights Full Year 2024 Loss from Operations $52.8M • Primarily driven by Payroll, Professional Fees and Other Business General Expenses vs forecast of • Includes approximately $12.5 million of non-cash stock-based compensation expense $40 – 50M Net Loss Total net los
Slide 28: Why Oklo?
Why Oklo? Technology and Size Attractive Business Model Superior Economics Oklo’s technology is based on a proven Selling power, not power plants, Strategic reactor design decisions and fast reactor technology. Small-scale plants directly to customers under long-term waste recycling result in low ca
Slide 29: Thank You
Thank You 29
Slide 30: Balance sheets
OKLO INC. CONSOLIDATED Balance sheets (in thousands, except share data) Years Ended December 31, 2024 2023 Cash and cash equivalents $97,132 $9,868 Marketable debt securities 130,682 - Prepaid and other current assets 4,125 4,331 Total current assets $231,939 $14,199 Marketable debt securities 47,47
Slide 31: Statement of operations
OKLO INC. CONSOLIDATED Statement of operations (in thousands, except share data) Years Ended December 31, 2024 2023 Research and development $26,711 $9,763 General and administrative 26,090 8,873 Total operating expenses 52,801 18,636 Loss from operations (52,801 (18,636) Change in fair value of sim
Slide 32: Statements of cash flows
OKLO INC. CONSOLIDATED Statements of cash flows (in thousands) Years Ended December 31, 2024 2023 Net loss $(73,616) $(32,173) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 268 75 Change in fair value of simple agreements for future equity
Slide 33: Statements of cash flows (cont'd)
OKLO INC. CONSOLIDATED Statements of cash flows (cont’d) (in thousands) Years Ended December 31, 2024 2023 Net increase in cash and cash equivalents 87,264 214 Cash and cash equivalents - beginning of year 9,868 9,654 Cash and cash equivalents – end of year $97,132 $9,868 Supplemental disclosure of