Ensurge Micropower ASA - Q1 2026

CEO comment:
"In the first quarter we delivered record battery performance results, with
material improvements in cycle life and capacity retention. This is a direct
outcome of the product-led operating model we implemented in February and the
discipline it has brought to our development cadence. Early data on the Corning
Ribbon Ceramic integration is also encouraging, our commercial pipeline
continues to broaden, and we have taken meaningful steps toward reshaping our
cost base while extending our funding runway. The focus for the remainder of
2026 is clear: exit the Proof-of-Concept stage gate and convert pipeline
interest into formal development partnerships."

Operational highlights:
o	Record multi-layer battery performance. Material improvements in cycle life
and capacity retention demonstrated on multi-layer cells with the Company's
stainless-steel substrate. 250 cycles with 70% capacity retention achieved and
Proof-of-Concept criteria of 250+ cycles at an 80% capacity retention within
reach. 
o	Encouraging early data from the Corning Joint Development Agreement. Initial
single-layer cells integrating Corning's Ribbon Ceramic cathode with Ensurge's
platform show capacity retention above 90% after approximately 100 cycles.
Active dialogue is underway on potential commercial applications of the combined
technology. 
o	Pipeline expansion with additional marquee interest. Inbound interest now
exceeds 125 leads, including eight Fortune 500 companies. The Company is in
discussions with more than a dozen top-tier potential customers and is in active
negotiations with a major sensor technology company on a multi-year, multi-phase
development agreement.
o	Shift to product-led operating model. As previously announced, Ensurge
transitioned to a product-led operating model. The operational progress is a
direct impact of this change and Ensurge is adding resources within battery
technology following a reduction in the company's legacy process engineering and
manufacturing focus. 

Financial highlights:
o	USD 0.15M revenue. Primarily from strategic development and partnership
activities
o	USD -3.5M in EBITDA less capitalized R&D (excl. USD 0.4M restructuring
expenses) versus USD -5.5M in Q4 25.
o	Cost optimizations still ongoing. Initiated renegotiation of long-term
agreements, including the San Jose facility lease, to materially improve the
Company's fixed cost base. 
o	Funding runway extended into Q3 2026. Secured approximately NOK 61 million in
convertible loan financing at a conversion price representing a 48% premium to
the prevailing share price at the time of commitment. 

Outlook:
The Company's priority for the remainder of 2026 is to complete the work
required to exit the Proof-of-Concept stage gate and bring the product to the
level of predictability needed to ship to customers. Exiting Proof-of-Concept is
the prerequisite for advancing marquee partnership conversations into formal
agreements. The Company will continue to manage capital with product-led
discipline, advance cost restructuring, and is actively evaluating longer-term
financing options, including potential strategic and partner investment.

The Q1 2026 report and presentation are available at www.ensurge.com.

For further information, please contact: ir@ensurge.com

About Ensurge Micropower ASA
Ensurge Micropower develops ultra-thin, flexible solid-state lithium
microbatteries that enable next-generation electronic devices. The company's
proprietary platform is designed to deliver safe, high-performance energy
storage in space-constrained applications across medical devices, hearables,
wearables, industrial systems, and defense. Ensurge Micropower ASA is listed on
the Oslo Stock Exchange under the ticker ENSU.
Ensurge Micropower ASA is listed on\
the Oslo Stock Exchange under the ticker ENSU.\