Amprius Celebrates Opening of Contract Manufacturing Partner’s New Lines to Meet Rising Demand for Amprius High-Energy Silicon Anode Batteries

Showcases 800 MWh Capacity for SiCore™ Cells with Shipments Beginning October 2024

FREMONT, Calif. - October 31, 2024 -Amprius Technologies, Inc.("Amprius" or the "Company") (NYSE: AMPX),a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, today announced one of its contract manufacturing partners has opened new lines to support increased SiCore™ production. The newly installed production lines provide Amprius with manufacturing capacity of up to 800 MWh for its SiCore pouch cells. This expansion marks a significant milestone in Amprius' global manufacturing strategy, significantly enhancing its production capabilities to meet the rising demand for its next-generation, high-performance silicon anode batteries.

The newly established production lines have officially begun operations at one of Amprius' contract manufacturing partners' facilities, designed specifically to produce Amprius' SiCore batteries. This expansion ensures customers have increased access to the company's high-energy, high-power silicon anode batteries for electric mobility applications. Dr. Kang Sun, CEO of Amprius Technologies, along with representatives from Amprius' engineering and quality team, participated the opening ceremony.

Shipments from these lines began in October 2024, supporting the various customer orders including the $20 million order for Light Electric Vehicles the Company previously announced in September. The facility integrates the latest innovations in battery manufacturing equipment and processes, leveraging cutting-edge technology with advanced environmental controls, ensuring optimal performance and quality for Amprius silicon anode cell chemistries.

"Amprius is rapidly expanding its global manufacturing partnerships to meet the growing demand for our advanced battery technology," said Dr. Kang Sun, CEO of Amprius Technologies. "With this expanded contract manufacturing arrangement, we've secured gigawatt-hour-scale production capacity for SiCore silicon anode batteries across our key partnerships. This strategic expansion enables us to deliver the high-performance silicon batteries that our customers rely on to power their most advanced electric mobility applications."

The multi-year, long term agreement with the contract manufacturer is a key part of Amprius' manufacturing strategy to secure scalable, high-quality production capacity while minimizing investment and incremental costs. With over 20 years of industry manufacturing experience and a total production capacity expected to exceed 100 GWh in 2025, the partner provides the flexibility needed to meet Amprius' high energy density and longevity standards while supporting future expansion.

Since announcing the SiCore platform in January, customer demand for large quantities of SiCore batteries has increased, necessitating the acceleration of SiCore production capacity. These expanded contract manufacturing arrangements allow Amprius to efficiently scale operations, ensuring customers have access to its industry-leading battery performance. Amprius' contract manufacturers will supply SiCorepouches in various chemistries and form factors, including 18650 and 21700 cylindrical cells.

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-known energy-density cells. The company's commercially available SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third-party validation of 500 Wh/kg and 1,300 Wh/L. Amprius expanded its product portfolio to include the SiCore™ platform in 2024, significantly enhancing its ability to serve additional customer applications. The company's corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into several agreements to secure over 500 MWh of contract manufacturing available today. 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 and Section 21E of the Securities Exchange Act of 1934, each as amended. 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 the manufacturing capacity the new production lines could create and the aggregate capacity of SiCore batteries Amprius is able to secure across its key partnerships, customer demand for Amprius' batteries, the addressable market and application of Amprius' batteries, when the shipments from the new lines will begin, the expected capacity of Amprius' partner in 2025, the performance of the batteries manufactured by Amprius' manufacturing partner, the benefits of the contract manufacturing arrangements and the type of batteries Amprius' contract manufacturing partners will supply. 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. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties. These forward-looking statements are subject to a number of risks and uncertainties, including market demands for SiCore batteries; the ability of Amprius to deliver high performance products to customers at acceptable prices and meet their demands via the contract manufacturing arrangements; third-party producers of Amprius batteries continuing to produce such batteries in the expected quantities and caliber and at the expected prices; Amprius' customers continuing to purchase batteries directly from Amprius; Amprius' liquidity position; risks related to the rollout of Amprius' business and the timing of expected business milestones; Amprius' ability to commercially produce high performing batteries; the effects of competition on Amprius' business; supply shortages in the materials necessary for the production of Amprius' products; 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 documents we filed from time to time with the Securities and Exchange Commission (the "SEC"), all of which are available on the SEC's website at www.sec.gov. 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.

Contacts:

Investors
Tom Colton, Greg Bradbury
Gateway Group, Inc.
949-574-3860
[email protected]

Media
Zach Kadletz, Brenlyn Motlagh
Gateway Group, Inc.
949-574-3860
[email protected]

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