• The world’s first to build and operate a Li-Metal line within an automotive OEM’s facility.
• The first Li-Metal battery company to have two B-sample development JDAs.
• The UAM market opportunity is closer to commercialization with B-sample progress and the expected conversion of
• an existing line to dedicated UAM cells.
• The 2024 outlook previously issued on February 26, 2024 is affirmed.

SES AI Corporation (“SES AI”) (NYSE: SES), a global leader in the development and manufacturing of high-performance Li-Metal batteries, today announced its first quarter 2024 business results for the period ended March 31, 2024.

The Company posted a Letter to Our Shareholders on its Investor Relations website from Founder and CEO Dr. Qichao Hu and Chief Financial Officer Jing Nealis, which provides a business update and details on first quarter 2024 results.

“The game-changing collaboration with Hyundai Motor Company and Kia Corporation is one of the more significant milestones we have reached to date,” stated Dr. Qichao Hu, Founder and CEO. “Moving to the next phase of our contract with these partners, together with other agreements and UAM cell production we are anticipating later this year, reinforces our lead in the race to commercialize our Li-Metal technology for both automotive and UAM applications.”