Solid Power DCRC+ Financial Overview

Considering a Framework for Solid Power's Valuation Solid Power Battery Technology ✓ Leading ASSB Platform Technology ✓ Long-Standing Partnership - Ford and BMW Proven Roll-to-Roll Manufacturing Capability Financials and Valuation Capital Light Business Model Robust Margins Compelling Valuation 256% 2026-28 Revenue CAGR 29% 2028 EBITDA Margin Engaged in the development of semi-solid-state batteries QuantumScape * Capital intensive business model LiDAR LUMINAR Velodyne Value added technology components ✓ Capital light business models ✓ Levered to electrification and ESG tail winds Hydrogen BALLARD PLUG POWER EV Enablers(²) T ✓ Growing into massive TAM Technology and industry disruptors TESLA CATL ✓ Market leading battery manufacturers × Capital intensive business model Established high growth companies; ~5 years ahead of Solid Power 384% 2026-28 Revenue CAGR 117% 2023-25 Revenue CAGR(1) 0.7x EV / 2028 Revenue 25% 2028 EBITDA Margin 1.8x EV / 2028 Revenue 31% 2025 EBITDA Margin (1) 7.0x EV/2025 Revenue (1) 45% 2023-25 Revenue CAGR 17% 2025 8.5x EBITDA Margin EV/2025 Revenue 29% 2021-23 Revenue CAGR Source: FactSet as of June 11, 2021. Median statistic shown for public company groups. 1. Velodyne represents 2022 - 24 Revenue CAGR, 2024 EBITDA margin and 2024 Revenue multiple. 2. Primary basis for multiples used in discounted enterprise value analysis. Solid Power DCRC+ 21% 2023 EBITDA Margin 7.7x EV/2023 Revenue 41

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