SES AI Announces Li-Metal Battery Technology Progress, New South Korea Facility, and Discusses Building the Next Battery Supply Chain at Battery World 2022

SES AI Corporation (“SES AI”) (NYSE: SES), a global leader in the
development and manufacturing of high-performance Li-Metal batteries for
electric vehicles (EV) and other applications, hosted its second annual
Battery World event and announced its progress towards the commercialization
of its Li-Metal battery technology.

During his Keynote speech, Dr. Qichao Hu, Founder and CEO of SES AI,
disclosed the Company’s new facility in Chungju, South Korea. Equipped with
expanded in-house manufacturing capability, the new facility further
enhances SES AI’s global cell engineering capability, serving as a strong
complement to SES AI’s Shanghai Giga in the steady production of
large-format 50Ah and 100Ah Li-Metal cells. The added manufacturing capacity
in South Korea will also strengthen ties with SES AI’s joint development
agreement OEMs, GM, Hyundai and Honda.

Through the development of enhanced engineering capability, the initial data
of SES AI’s large-format cells continue to show encouraging potential of
Li-Metal chemistry. The 50Ah cells boast excellent performance in cold
weather climates of -30oC and in high power discharge under room
temperature, both achieved at a high energy density. In terms of safety, the
50Ah cells passed third-party abuse tests including nail penetration,
overcharge, external short circuit and thermal stability. SES AI believes it
is the first Li-Metal battery manufacturer in the world to secure the UN38.3
transport certification for large-format Li-Metal cells.

Hu also showcased a video featuring a successful Electric Vertical Take Off
and Landing (eVTOL) aircraft test flight powered by SES AI’s 100Ah Li-Metal
battery pack and AI-powered safety software Avatar. “Li-Metal is not an
individual technology or a collection of individual technologies, it has to
be a system.” said Hu. SES AI’s systemic approach is key to its leadership
in next generation battery technology. The Avatar software collects data
across the manufacturing process – from raw materials to applications for
battery health monitoring. SES AI has been training data of 4Ah Li-Metal
cells since 2019 with the accuracy of failure prediction approaching nearly
99%. With large-format cells, the failure prediction went from 0 to 60% in
only a few months with much room for optimization.

“We have learned a lot this year, in particular the importance of building a
robust supply chain to achieving commercialization of Li-Metal battery
technology. We have taken meaningful steps towards having more control over
our supply chain, and are excited by how it will accelerate the development
of our batteries in 2023. The electric vehicle revolution is coming, and the
more we can all do to diversify the global supply chain, the sooner it will
arrive.” said Hu.

The event also featured a panel discussion joined by leading representatives
from across the EV ecosystem from upstream mining industry players to
downstream auto OEMs.

A replay of the whole session is available on SES AI’s official YouTube
channel (https://youtu.be/NkqzHdYPq64).

.

About SES AI

SES AI is a global leader in development and production of high-performance
Li-Metal rechargeable batteries for electric vehicles (EVs) and other
applications. Founded in 2012, SES AI is an integrated Li-Metal battery
manufacturer with strong capabilities in material, cell, module, AI-powered
safety algorithms and recycling. Formerly known as SolidEnergy Systems, SES
AI is headquartered in Boston, MA and has operations in Singapore, Shanghai,
and South Korea. To learn more about SES AI, please visit: ses.ai/investors/

SES AI may use Its website as a distribution channel of material company
Information. Financial and other important information regarding SES AI is
routinely posted on and accessible through SES AI’s website at ses.ai.
Accordingly, investors should monitor this channel, in addition to following
SES AI’s press releases, Securities and Exchange Commission filings and
public conference calls and webcasts.