Solid Power SPAC Presentation Deck

Risk Factors RISK RELATED TO DEVELOPMENT AND COMMERCIALIZATION We face significant challenges in our attempt to develop our products and produce them at high volumes with acceptable performance, yields and costs. The pace of development in materials science is often not predictable. Delays or failures in accomplishing particular development objectives may delay or prevent successful commercialization of our products. If our batteries fail to perform as expected, our ability to develop, market, and sell our batteries could be harmed. Our relationships with our partners are subject to various risks which could adversely affect our business and future prospects. There are no assurances that we will be able to commercialize solid-state batteries from our joint development relationships with our partners. We are subject to risks relating to the construction and development activities of our manufacturing facilities. We rely on complex machinery for our operations, and production involves a significant degree of risk and uncertainty in terms of operational performance and costs. If our planned manufacturing plants do not become operable on schedule, or at all, or become inoperable, production of our battery cells and our business will be harmed. Substantial increases in the prices for our raw materials and components, some of which are obtained in volatile markets where demand may exceed supply, could materially and adversely affect our business. ■ ■ ■ ▪ We may be unable to adequately control the costs associated with our operations and the components necessary to build our solid-state battery cells, and, if we are unable to control these costs and achieve cost advantages in our production of our solid-state battery cells at scale, our business will be adversely affected. If we are unable to attract and retain key employees and qualified personnel, our ability to compete could be harmed. Our insurance coverage may not be adequate to protect us from all business risks. Our facilities or operations could be damaged or adversely affected as a result of natural disasters and other catastrophic events. We have been, and may in the future be, adversely affected by the global COVID-19 pandemic. RISK RELATED TO INDUSTRY AND MARKET TRENDS The battery industry and its technology are rapidly evolving and may be subject to unforeseen changes, such as technological developments in existing technologies or new developments in competitive technologies that could adversely affect the demand for our battery cells. The battery market continues to evolve and is highly competitive, and we may not be successful in competing in this market or establishing and maintaining confidence in our long-term business prospects among current and future partners and customers. Our future growth and success are dependent upon consumers' willingness to adopt electric vehicles. : We may not succeed in attracting customers during the development stage or for high volume commercial production, and our future growth and success depend on our ability to attract customers. We may not be able to accurately estimate the future supply and demand for our batteries, which could result in a variety of inefficiencies in our business and hinder our ability to generate revenue. If we fail to accurately predict our manufacturing requirements, we could incur additional costs or experience delays. Solid Power | DCRC+ RISK RELATED TO LIMITED OPERATING HISTORY We are an early stage company with a history of financial losses and expect to incur significant expenses and continuing losses for the foreseeable future. ■ ■ RISK RELATED TO INTELLECTUAL PROPERTY We rely heavily on our intellectual property, which includes patent rights, trade secrets, copyrights and know-how. If we are unable to protect our intellectual property rights, our business and competitive position would be harmed. Our patent applications may not result in issued patents, which would result in the disclosures in those applications being available to the public. Also, our patent rights may be contested, circumvented, invalidated or limited in scope, any of which could have a material adverse effect on our ability to prevent others from interfering with our commercialization of our products. . ■ Our limited operating history makes evaluating our business and future prospects difficult and may increase the risk of your investment. If we fail to effectively manage our future growth, we may not be able to market and sell our battery cells successfully. Our management has limited experience in operating a public company. ■ We have not performed exhaustive searches or analyses of the intellectual property landscape of the battery industry, therefore, we are unable to guarantee that our technology does not infringe intellectual property rights of third parties. We may need to defend ourselves against intellectual property infringement claims, which may be time-consuming and could cause us to incur substantial costs. RISK RELATED TO FINANCE AND ACCOUNTING Our expectations and targets regarding the times when we will achieve various technical, pre-production and production objectives depend in large part upon assumptions, estimates, measurements, testing, analyses and data developed and performed by us. If these assumptions, estimates, measurements, testing, analyses or data prove to be incorrect or flawed, our actual operating results and performance may suffer or fail to meet expectations. Our projections are subject to significant risks, assumptions, estimates and uncertainties. As a result, our actual future revenues, gross margin, EBITDA, EBITDA margin, expenses and free cash flow may differ materially from our projections. Incorrect estimates or assumptions by management in connection with the preparation of our financial statements could adversely affect our reported assets, liabilities, income, revenue or expenses. Our failure to timely and effectively implement controls and procedures required by Section 404(a) of the Sarbanes- Oxley Act could have a material adverse effect on our business. Our ability to utilize our net operating losses and tax credit carryforwards to offset future taxable income may be subject to certain limitations. The unavailability, reduction or elimination of government and economic incentives could have a material adverse effect on our business, prospects, financial condition and operating results.

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