On January 22, 2024, SES AI Corporation determined that Rohit Makharia, President and Chief Strategy Officer, would separate from the Company, effective January 26, 2024. The Company has agreed, for purposes of Mr. Makharia?s Employment Agreement, dated February 15, 2021 (the ?Employment Agreement?), to treat Mr. Makharia?s separation as a ?Termination without Cause? as defined in the Employment Agreement.

In connection with Mr. Makharia?s departure, the Company and Mr. Makharia have entered into a Separation Letter dated January 24, 2024 (the ?Separation Letter?), pursuant to which, subject to delivery of a release of claims by Mr. Makharia, the Company has agreed to extend through December 31, 2024 the post-termination exercise period of Mr. Makharia?s vested stock options and to provide Mr. Makharia the compensation and benefits he is entitled to in accordance with the terms of his Employment Agreement in the event of a ?Termination without Cause?. The Separation Letter also includes mutual covenants not to disparage.