Business/Financial Results (Form 8-K)

SES AI Provides First Quarter 2026 Business Update

Expects first quarter 2026 revenue of $6.3 million to $6.5 million

Affirms full year 2026 revenue guidance of $30 million to $35 million

Plans to report first quarter 2026 results on April 23, 2026

Woburn, MA (April 1, 2026)--(BUSINESS WIRE)--SES AI Corporation ("SES AI", the "Company," "we" or "us") (NYSE: SES), a global leader in the development and manufacturing of AI-enhanced high-performance Li-Metal and Li-ion batteries, today provided a business update for the first quarter of 2026, including expected revenue for the quarter and affirmed its previously issued full year 2026 revenue guidance.

First Quarter 2026 Business Update

Based on preliminary results, the Company expects first quarter 2026 revenue to be in the range of $6.3 million to $6.5 million, above published consensus estimates. The first quarter revenue is largely due to ESS product revenue from UZ Energy, reflecting continued momentum in the Company's largest near-term revenue generating business, as well as smaller contributions from drones and subscription revenue. First quarter results also include approximately $1.5 million in revenue from orders that were previously disclosed as having been delayed from the fourth quarter of 2025 due primarily to logistics constraints.

The Company is affirming its previously issued full year 2026 revenue guidance of $30 million to $35 million, with contributions expected from all three revenue generating business units: ESS, drones, and advanced materials. SES AI continues to execute on its capex-light business model and expects to provide additional details on its full year outlook when it reports first quarter results.

Qichao Hu, Founder and CEO of SES AI, commented, "We are pleased to start 2026 with strong momentum in our ESS business. Our first quarter results are expected to come in above expectations, driven by the continued execution of UZ Energy and growing demand for our commercial and industrial energy storage solutions."

"As we look ahead to the remainder of the year, we are confident in our full year guidance and excited about the pipeline of opportunities across our three revenue generating

businesses. We remain focused on financial discipline, our capex-light model, and creating value for our shareholders through commercial execution and the continued development of the Molecular Universe platform," Hu added.

First Quarter 2026 Earnings Date and Conference Call

The Company plans to report its first quarter 2026 financial results after market close on Thursday, April 23, 2026. SES AI will hold a conference call at 5:00 p.m. ET on that date to discuss its results and business outlook.

A webcast of the live conference call will be available through SES's Investor Relations website, https://investors.ses.ai. The following link can be used to register in advance for the call: https://events.q4inc.com/attendee/998500960.

The conference call can also be accessed live over the phone by dialing the following numbers:

United States (Toll Free): 800-715-9871
International: +1 646-307-1963

Access Code: 2990899

A webcast replay will be available shortly after the call at:
https://investors.ses.ai/events-and-presentations/events/default.aspx

About SES AI:

SES AI Corp. (NYSE: SES) is powering the future of global electric transportation on land and in the air with the world's most advanced Li-Metal batteries. SES AI is the first battery company in the world to accelerate its pace of innovation by utilizing superintelligent AI across the spectrum of its business, from research and development; materials sourcing; cell design; engineering and manufacturing; to battery health and safety monitoring. Founded in 2012, SES AI is an Li-Metal battery developer and manufacturer headquartered in Boston and with operations in Singapore, Shanghai, and Seoul. Learn more at SES.AI.

SES AI may use its website as a distribution channel of material company information. Financial and other important information regarding SES AI is routinely posted on and accessible through the Company's website at www.ses.ai. Accordingly, investors should monitor this channel, in addition to following SES AI's press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

The financial results presented in this press release are preliminary, estimated, and unaudited. Such amounts are subject to the completion and finalization of SES's financial and accounting closing procedures. They reflect management's estimates based solely upon information available to management as of the date of this press release. Further information learned during that completion and finalization may alter the final results. In addition, the preliminary estimates should not be viewed as a substitute for full annual financial statements prepared in accordance with GAAP. There is a possibility that SES's financial results for the three months ended March 31, 2026 could vary materially from these preliminary estimates.