The All-New Amprius 500 Wh/kg Battery Platform is Here

Unparalleled Run Time Lithium-Ion Battery Cell, Energy Density Verified by Independent Test Lab

Continues Track Record of Delivering Breakthrough Results in Evolution of Silicon Anode

Shipping Prototypes to Select Customers This Year

Amprius Technologies, Inc. ("Amprius" or the “Company”) (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, is once again raising the bar with the verification of its lithium-ion cell delivering unprecedented energy density of 500 Wh/kg, 1300 Wh/L, resulting in unparalleled run time. At approximately half the weight and volume of state-of-the-art, commercially available lithium-ion cells, the all-new battery cell delivers potential industry-disrupting performance with barrier breaking discharge times. Amprius’ next-generation cells are well positioned to power products in the fast-growing aviation and, eventually, electric vehicles markets, estimated to be collectively over $100 billion in battery demand by 2025.

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“These cells provide a run time of 200% compared to state-of-the-art graphite cells, while being lighter and smaller than other batteries with the same energy content,” said Jon Bornstein, President of Amprius Lab. “This latest validation continues Amprius’ track record of producing the world’s most powerful battery cells and sets an industry benchmark for next-generation battery technology that will ultimately revolutionize how high we fly, how far we travel and how long we can use our devices.”

The 500 Wh/kg battery platform significantly expands boundaries for customers and is a tailored solution for applications that require maximum discharge times without compromising key features such as aircraft payload and without having to increase vehicle weight. The new batteries demonstrate both high gravimetric energy density (Wh/kg) and volumetric energy density (Wh/L) with exceptional adaptability. The customizable platform allows customers to select the option to either increase energy content in a battery pack without increasing weight, reduce weight in applications that target a fixed energy content, or combinations of both. Higher energy is important for longer run times, range and endurance, while lighter packs increase energy efficiency – even for the same battery energy content.

“We look forward to taking advantage of Amprius’ 500 Wh/kg cell to further develop Zephyr’s unrivalled stratospheric endurance capabilities,” said Pierre-Antoine Aubourg, Chief Technical Officer at AALTO HAPS, the Airbus subsidiary developing the 100% solar-electric High Altitude Platform Station for connectivity and earth observation applications. “Amprius is a valued current supplier with a great track-record, and we are confident that Amprius’ battery will deliver the capability we need.”

The record 500 Wh/kg energy density performance was verified by Mobile Power Solutions, a leading testing house offering comprehensive battery regulatory compliance, safety, and performance testing. The results indicate that this cell model provides >504 Wh/kg and >1321 Wh/l at 25°C.

For more information on Amprius, please visit the Company’s investor relations website at https://ir.amprius.com.

About Amprius Technologies, Inc.

Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries producing the industry’s highest energy density cells. The Company’s corporate headquarters is in Fremont, California where it maintains an R&D lab and a pilot manufacturing facility for the fabrication of silicon nanowire anodes and cells. To serve significant customer demand for its high-performance silicon anode lithium-ion batteries, Amprius recently signed a letter of intent for an approximately 774,000 square foot facility in Brighton, Colorado that initially provides a potential of up to 5 gigawatt-hours (GWh) manufacturing capacity.

Amprius’ commercially available batteries deliver up to 450 Wh/kg and 1,150 Wh/L, the industry’s highest known energy density cells available on the market today. Based on Amprius’ current level of battery performance and pilot production, the Company will be able to use its proprietary anode technology to deliver battery cells that contain energy density levels that approach 2x the performance of current commercially available graphite cells. For additional information, please visit amprius.com. Also, see the Company’s LinkedIn and Twitter pages.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995, each as amended, including Amprius’ expectations, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future product commercialization, the ability of Amprius to build a large-scale manufacturing facility and expand its manufacturing capacity, the addressable market for batteries, and the potential application and performance of Amprius’ batteries. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Amprius’ management and are not predictions of actual performance. These forward-looking statements are not intended to serve as, and must not be relied upon by any investors as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond Amprius’ control. These forward-looking statements are subject to a number of risks and uncertainties, including risks related to the performance of Amprius’ batteries; Amprius’ ability to successfully negotiate a lease agreement under reasonably acceptable terms; delays in construction and operation of production facilities; risks related to the rollout of Amprius’ business and the timing of expected business milestones; the effects of competition on Amprius’ business; supply shortages in the materials necessary for the production of Amprius' products; the termination of government clean energy and electric vehicle incentives or the reduction in government spending on vehicles powered by battery technology; Amprius’ liquidity position; the ability to commercially produce its highest performing batteries; and changes in domestic and foreign business, market, financial, political and legal conditions. For more information on these risks and uncertainties that may impact the operations and projections discussed herein can be found in the "Risk Factors" section of our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on November 14, 2022, and other documents we filed from time to time with the SEC, all of which are available on the SEC’s website at www.sec.gov. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Amprius does not presently know or that Amprius currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Amprius’ expectations, plans or forecasts of future events and views as of the date of this press release. These forward-looking statements should not be relied upon as representing Amprius’ assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Except as required by law, Amprius specifically disclaims any obligation to update any forward-looking statements.

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