Solid Power, Inc.

Good day, and welcome to the Solid Power Fourth Quarter 2025 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw the question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Charlie Van Goetz, Investor Relations Analyst. Please go ahead.

Thank you, Operator. Welcome, everyone, and thank you for joining us today. I'm joined on today's call by Solid Power's President and Chief Executive Officer, John VanSkoder, and Chief Financial Officer, Linda Heller. A copy of today's earnings release is available on the investor relations section of Solid Power's website, www.solidpowerbattery.com. I'd like to remind you that parts of our discussion today will include forward-looking statements as defined by U.S. securities laws. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Solid Power disclaims any duty to update any forward-looking statements to reflect future events or circumstances. For discussion of the risks and uncertainties that could cause actual results to differ materially from those expressed in today's forward-looking statements, please see Solid Power's most recent filings with the Securities and Exchange Commission, which can be found on the company's website at www.solidpowerbattery.com.

With that, let me turn it over to John Banskoder. Thank you, Charlie, and thank you all for joining us today. We made strong and meaningful progress in 2025, marking an important year of execution for Solid Power. At the outset of the year, we set clear near-term objectives to drive continued innovation and performance in our electrolyte technology, advance our electrolyte development roadmap, ramp sampling activity while identifying and engaging long-term customers, execute against our agreements with SKON, and maintain a disciplined approach to capital and spending. I'm proud of our progress our team delivered across each of these priorities. Throughout the year, we translated strategy into tangible milestones and strengthened our technical foundation. Collectively, our achievements in 2025 advanced our path towards commercialization and positioned us to enter the next phase of growth. Starting with electrolyte sampling, we continued our sampling efforts and saw demand for multiple generations of our material from both existing and new customers. In October 2025, we announced a joint evaluation agreement with Samsung SDI and BMW to advance the development of all solid-state batteries. We view this agreement as validation of our electrolyte sampling efforts. After announcing the agreement, we began executing under the agreement and providing electrolyte to SDI for use in the joint evaluation activities. Turning to our electrolyte development roadmap, we made progress towards installation of our continuous electrolyte production pilot line. In 2025, we finished ordering long lead equipment and conducted detailed design for the line. We expect to install and commission this line by the end of 2026. This line is designed to support small-volume customer programs and allow us to learn and optimize the manufacturing processes ahead of full commercialization. With respect to SK-ON, we continue to execute under our agreements a research and development license, a line installation agreement, and an electrolyte supply agreement. These agreements are designed to enable SKON to develop solid-state cells based on our technology and to operate a pilot cell manufacturing line using our electrolyte. In 2025, we completed factory acceptance testing and neared completion of site acceptance testing at SKON's facility. This progress demonstrates our ability to deliver against key technical milestones and support our partners' ASSB efforts. Moving on to electrolyte innovation and performance, during 2025, we deepened our understanding of our electrolyte performance, identified process engineering and electrolyte improvements, and worked to tailor our electrolyte to meet customer specifications. We made this progress through our focus on enhancing feedback between our cell and electrolyte teams and productive customer feedback. Additionally, our cells and solid-state battery technology were demonstrated in a BMW i7 test vehicle in May 2025. BMW's introduction of this test vehicle marked a meaningful achievement in our partnership, and we're proud of our role in this accomplishment. With that, I'll turn it over to Linda to review our financial results and provide an update on our financial discipline goal.