Slide 1: Q2 2024 Company Update
Q2 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.
Slide 4: Oklo foundational pillars
Oklo foundational pillars 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. Business Model Modern, Small-Scale Design Our small, scalable designs combine th
Slide 5: Oklo is developing advanced fast fission reactors
Oklo is developing advanced fast fission reactors that can run on fresh fuel or recycled nuclear waste Reactor Design Features Product Benefits • Reaction Type: Fast Fission Small and Simple Design Low Cost • Reactor Sizes: 15 MW, 50 MW and *100MW+ • Fuel: Metal Fuel Alloy, Low Enriched • Coolant: L
Slide 6: Aurora powerhouses maximize use of non-nuclear supply chains
Aurora powerhouses are designed to maximize the use of materials, parts, and labor from non-nuclear supply chains Major Powerhouse Components Powerhouse Supply Chain Breakdown (% Components)(1) Power Conversion System 70% Steam Generators 30% Oklo Reactor Module Non-Nuclear Supply Chains Conventiona
Slide 7: Environmental benefits of fission energy density
By leveraging the energy density of fission, Oklo's Aurora powerhouses have immense environmental benefits Lowest GHG Emissions Lowest Materials Use Lowest Land Use Nuclear power has the lowest lifecycle GHG Nuclear power has the lowest Nuclear power uses the least emissions profile of any energy te
Slide 8: Nuclear sector receiving unprecedented government support
The nuclear sector is receiving unprecedented support from all levels of government International Commitment Federal Commitment State-level Commitment 8
Slide 9: The ADVANCE Act modernizes the regulatory system
The ADVANCE Act modernizes the regulatory system and provides financial support to accelerate deployment of advanced nuclear reactors OVERWHELMING BIPARTISAN SUPPORT REDUCES FEES SHORTENS TIMELINES This landmark legislation Changes fee structures Expedites timelines for provides a major boost to 393
Slide 10: Extensive regulatory engagement history with the NRC
Oklo has one of the most extensive regulatory engagement histories with the Nuclear Regulatory Commission (NRC) 2019 2021 2024 • Safeguards Information • Began pre-application • Safety Design Strategy Protection and Handling Plan for fuel recycling for the Aurora Fuel approved Fabrication Facility •
Slide 11: Repeatable combined licensing strategy to reduce timelines by 50%
Oklo’s repeatable combined licensing strategy is expected to reduce licensing timelines by 50% (1) Typical Part 50 License Timeline INITIAL APPLICATION: 48-72 Months SUBSEQUENT APPLICATION: 48-72 Months CONSTRUCTION PERMIT OPERATING LICENSE CONSTRUCTION PERMIT OPERATING LICENSE (24-36 Months) (24-36
Slide 12: Product roadmap includes three reactor sizes
Oklo’s product roadmap includes three reactor sizes to meet customer's needs from MW to GW scale *100 MW+ Target Customers 50 MW • Large Data Centers • Large Industrial • Utilities 15 MW Target Customers • Medium to Large Data Centers Target Customers • Oil and Gas • Small-Medium Data Centers • Indu
Slide 13: Data center demands
Data center demands Multiple data halls Data center energy needs • Data centers often made up of multiple data halls • Built out hall by hall over time leading to phased energy demand • Data halls typically sized to consume 35 MW to Data center campus 50 MW each • Data center size, reliability, and
Slide 14: Multiple small reactors vs. single large reactors
Building multiple small reactors at project sites vs. single large reactors has benefits for Oklo and our customers Oklo Benefits • Avoids mega-project execution risk One 500 MW Reactor Ten 50 MW Oklo Reactors • Higher product volumes reduce supply chain and pre-fabrication costs • More repeated ons
Slide 15: Attractive business model targeting recurring cashflows
Attractive business model targeting recurring cashflows Recurring cash flow from long Power Sales Fuel Recycling duration contracts • Build, Own, Operate business • Proven nuclear fuel recycling model technology • Sell low-carbon power direct to • Oklo can tap into remaining Capital efficient deploy
Slide 16: Cost oriented design delivers emission free power at competitive cost
Cost oriented design and engineering positions Oklo to deliver emission free power at a highly competitive cost Estimated LCOE of clean, firm energy resources ($/MWh)(1)(2) Renewables + Storage (4) Advanced Nuclear (4) $119 Natural Gas + CCS (4) $109 (3) $99 $90 $69 $66 $63 $40 Notes: (1) Upper limi
Slide 17: Illustrative FOAK and NOAK project capital stacks
Oklo plans to leverage federal funding programs, tax equity and project finance to reduce investments into projects Illustrative First of a Kind (FOAK) Project Capital Stacks Illustrative Nth of a Kind (NOAK) Project Capital Stacks FOAK Project Capital Stack FOAK Project Capital Stack NOAK Project C
Slide 18: Four macro trends driving demand for baseload low-carbon power
Four macro trends are driving demand for Oklo’s baseload low-carbon power Increasing Decreasing Grid Reliability Decarbonization Electricity Demand Electricity Capacity Challenges Targets a Electricity demand on the Baseload electric generators The grid is experiencing more Companies and utilities a
Slide 19: Broad and diverse customer base and project pipeline
Scalable technology provides Oklo with a broad and diverse customer base and growing project pipeline Data Centers Defense Oil and Gas Real Estate Industrials Utilities 19
Slide 20: Customer pipeline has nearly doubled since July 2023
Oklo’s customer pipeline has nearly doubled since our business combination announcement in July 2023 Oklo Customer Pipeline (Megawatts) Customer Pipeline Summary • Data center customer demand is the primary segment driving pipeline growth 1,350MW +93% • Customer demand is risk weighted based on the
Slide 21: Leading market position and first mover advantage
Oklo has a leading market position and first mover advantage in the advanced nuclear sector Go-To Market Advantages Noteworthy regulatory progress with the NRC and industry- leading combined licensing strategy Small scalable technology reduces megaproject execution risk and time to market Well capit
Slide 22: Time to commercialization and operations at scale
Time to commercialization and operations at scale Prior to 2027 2027-2030 2031+ Licensing and Initial Deployments and Deployments at Scale First Deployment Fuel Fabrication and Fuel Recycling • Oklo intends to be the first • All Powerhouse models • Powerhouses of all sizes to be advanced nuclear com
Slide 23: Key milestones achieved in H1 2024
Key milestones achieved in H1 2024 • U.S. DOE Approved the Safety Design Strategy for the Oklo Aurora Fuel Fabrication Facility • Oklo Entered into Land Rights Agreement to Advance Deployment of Two Aurora Powerhouses in Southern Ohio • Oklo and Argonne Achieved Milestone in Thermal-Hydraulic Testin
Slide 24: Asset deployment progress: INL, fuel fabrication, supply chain
Asset deployment progress: INL Aurora powerhouse, fuel fabrication, and supply chain INL Aurora Powerhouse • Vendors engaged for site characterization by geotechnical firms to kick off at INL this year supporting near-term licensing milestones Fuel Fabrication • Vendors engaged for detailed facility
Slide 25: Executing on critical fuel recycling milestones
Oklo is executing on critical fuel recycling milestones Q2 Fuel Recycling Milestones • Completed successful end-to-end demonstration of fuel recycling process with Argonne National Lab • Submitted white papers and held pre- application meetings with the NRC on three key licensing topics • Formed str
Slide 26: Oklo quarterly guidance framework
Oklo quarterly guidance framework Reactor Licensing Progress Customer Pipeline Project Execution • NRC pre-application engagement • MW Backlog • Progress on project development, • Combined license applications • Letters of Intent (LOI) construction and operations (COLA’s) • Term Sheets (TS) • Factor
Slide 27: Oklo and AltC successful business combination
Oklo and AltC delivered a high-quality and successful business combination Why it Matters $306M Well capitalized to execute our business plan Gross Proceeds 0.002% Near-zero redemption rate demonstrates investor confidence in Oklo Redemptions Up to 3 Year The Chairman, CEO, COO and AltC Sponsor have
Slide 28: World-class board of directors
World-class board of directors with backgrounds in energy, defense, oil and gas, utilities, capital markets, and artificial intelligence Sam Altman Jacob DeWitte Caroline Cochran Chairman of the Board of Directors Co-Founder and CEO Co-Founder and COO Lieutenant General Chris Wright Michael Klein Ri
Slide 29: Highly experienced management team
Oklo’s management team consists of highly experienced team members with deep and broad expertise Oklo's team comes from leading Fortune 500 companies, global corporations, government organizations and research Jacob DeWitte Caroline Cochran Craig Bealmear institutions Co-Founder & CEO Co-Founder &CO
Slide 30: Founder and investor lock-up structure
Alignment of long-term interests through unique founder and investor lock-up structure Up to 3 Year Phased Lock-Up Participants Up to 3 Year Phased Lock-Up Triggers • Trigger 1 – 40% of shares unlock at the earlier of 1 year or the • CEO - Jacob DeWitte share price trading above $12.00 for 20 of 60
Slide 31: Financial executive summary
Financial executive summary Key Q2 Financial Highlights 6/30 YTD 2024 Outlook Cash Used in Operating Activities Year-to-date cash used in operating activities sits at $17.0 million made up of a net loss of $53.3 million offset by $38.9 million in non-cash impacts further highlighted $17.0M $35 - 45M
Slide 32: Future investor events
Future investor events August 13-14, 2024 For more details on Oklo's conference and • Boston - Canaccord Genuity 44th Annual Growth Conference presentation participation see our Events & Presentations page on our investor • Las Vegas - Citi’s 2024 One-on-One Midstream & New Energy Infrastructure Con
Slide 33: Why Oklo?
Why Oklo? Technology and Size Attractive Business Model Superior Economics Oklo’s technology is based on a proven fast Selling power, not power plants, directly to Strategic design and engineering decisions reactor technology with over 400 reactor years customers under long-term contracts provides r
Slide 34: Thank you
THANK YOU 34
Slide 35: Q2 Condensed Consolidated Balance Sheets
OKLO INC. Q2 CONDENSED CONSOLIDATED BALANCE SHEETS As of June 30, 2024 (Unaudited) December 31, 2023 Assets Current assets: Cash and cash equivalents $105,676,772 $9,867,588 Marketable securities 129,607,093 - Prepaid and other current assets 3,938,888 4,330,465 Total current assets 239,222,753 14,1
Slide 36: Q2 Condensed Consolidated Statement of Operations
OKLO INC. Q2 CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating expenses Research and development $10,719,142 $1,833,269 $14,379,784 $3,749,719 General and administrative 7,051,836 1,519,697 10,761,582 2,939,
Slide 37: Q2 Condensed Consolidated Statement of Cash Flows
OKLO INC. Q2 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) Six Months Ended June 30, Operating and Investing Activities 2024 2023 Cash flows from operating activities Net loss $(53,368,069) $(9,183,802) Adjustments to reconcile net loss to net cash used in operating activities: Deprecia
Slide 38: Statement of Cash Flows (cont'd): Financing Activities
OKLO INC. Q2 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (CONT'D) (unaudited) Financing Activities and Supplemental Disclosures Six Months Ended June 30, 2024 2023 Cash flows from financing activities Proceeds from recapitalization $276,209,768 $- Proceeds from exercise of stock options 439,922 -