ENSURGE MICROPOWER ASA

“Initial shipments are expected in 2025, once product qualificationandcertification,andproduction capacity ramp up are complete.”

Annual report 2024A · The company itself

“WiththecoremanufacturingchallengesofSSLB now resolved, Ensurge is advancing its technology roadmapbeyondthecurrentgeneration.While maintaining near term focus, we have initiated work onfuturetechnologyplatformsofferingsignificant improvements in energy density and cost, opening doors to broader applications across the electronics industry.”

Annual report 2024A · The company itself

“Following the successful completion of testing on the 11-layer battery, Ensurge is accelerating developmentofhigher-capacityvariants,first witha28-layerconfigurationandthenthe targeted43-layerstack.Withallmajortechnical hurdles now resolved, the next phase will focus on scaling existing solutions, both in design and manufacturing, rather than introducing new ones. The sample batteries will undergo thorough evaluation by our partners and customers as we continuetorefinecyclelifethroughtargetedtesting and ongoing improvements.”

Annual report 2024A · The company itself

“That said, we see strong potential to extend cycle life further to meet future needs, particularly in next-generation medical devices. A sector with evolving and stringent demands.”

Annual report 2024A · The company itself

“Our continued dialogue with the market consistently affirmsourleadershipposition. At the MedTech conference in Los Angeles in February2025,weshowcasedourtechnologytoa highly regulated and demanding audience. MedTech companies require batteries with superior energy density, longer cycle life, and absolute safety, are areas where we have a clear competitive edge in performance, cost, and speed of development.”

Annual report 2024A · The company itself

“In 2024, we doubled manufacturing volume, albeit from a modest base, through process improvements andsimplification.Inearly2025,wetransitioned to a 24/7 shift structure, ensuring continuous production. Additional gains in stacking and production yield are expected to further boost output.”

Annual report 2024A · The company itself

“In the coming quarters, we will focus on increasing the deposition of electrolytes and expanding laser capacity. The former will be addressed by more effectivedepositionmethods,whilethelatterwill be enhanced by optimizing laser processes and upgrading equipment. Resolving these bottlenecks enables a shift from sheet-based to fully roll-to-roll (R2R) front-end production — a major step toward significanthigheroutputandlowerunitcosts. Investment needs Importantly, most of the required improvements in 2025 can be achieved with our existing equipment.”

Annual report 2024A · The company itself

“The markets for our SSLBs are expanding rapidly, driven by demand for compact, intelligent electronic 10 | Annual Report | 2024 devices. These devices increasingly require greater energy density, enhanced mobility, robust security, and support for AI driven functionality, requirements that traditional Li-ion batteries struggle to meet.”

Annual report 2024A · The company itself

“The markets for our SSLBs are expanding rapidly, driven by demand for compact, intelligent electronic 10 | Annual Report | 2024 devices. These devices increasingly require greater energy density, enhanced mobility, robust security, and support for AI driven functionality, requirements that traditional Li-ion batteries struggle to meet.”

Annual report 2024A · The company itself

“In 2024wesignificantlystrengthenedourteam by adding engineers across key areas including yield optimization, product integration, product characterization, manufacturing processes and equipment, along with skilled technicians on the production line. Our ability to attract top talent in the highly competitive Silicon Valley market is a strong endorsement of our technology and position in the industry.Wewillcontinueselectiverecruitmentsin 2025tosupportbothoperationsandR&D.”

Annual report 2024A · The company itself

“Our commercial pipeline now exceeds 100 prospects across our targeted market segments. Geographically, the majority of interest is concentrated in the U.S. (60%), followed by Europe (30%) and Asia (10%).”

Annual report 2024A · The company itself

“Organization, personnel, and the environment TheBoardofDirectorswouldliketothanktheEnsurge management,staff,contractors,andecosystem partnersfortheirdedicatedeffortsin2024. Organization All Ensurge’s operational activities are based in the Company’s San Jose, California facility, providing efficientandcost-effectivemanagementofthe Company’s resources and assets.”

Annual report 2024A · The company itself

“Our commercial pipeline now exceeds 100 prospects across our targeted market segments. Geographically, the majority of interest is concentrated in the U.S. (60%), followed by Europe (30%) and Asia (10%).”

Annual report 2024A · The company itself