Ensurge Micropower ASA - Q4 2025

CEO comment:"The fourth quarter marked an important strategic shift for Ensurge. Wesharpened our focus on validating product performance, disciplined execution,and efficient use of capital. By shifting from the company's legacy focus onprocess engineering to a product-led model and by strengthening our technicaldepth, we are building a more credible path to commercialization and long-termvalue creation."Operational highlights:Strategic shift During her first 100 days, CEO Shauna McIntyre conducted a comprehensiveoperational review that identified opportunities to strengthencommercializationthrough increased focus on product validation and more efficient resourceallocation. Customer feedback emphasized the need for validated productperformance and demonstrated technological capability. As a result, thecompanyhas shifted from a process- and manufacturing-driven approach to a leanerproduct-led model.Corning partnership Ensurge entered into a Joint Development Agreement with Corning to integrateCorning's Ribbon Ceramic cathode with Ensurge's solid-state microbatteryplatform. Together, Ensurge and Corning aim to deliver an ultra-high energydensity product line extension that powers high-volume consumer, medical,industrial, and defense applications. Corning's contribution includes processand manufacturing expertise as well as deep materials knowledge. Activitiesunder the agreement are progressing in accordance with the agreed scope andframework.Commercial developmentThe company continued engagement with leading companies in health, medicaldevices, and industrial technology during Q4, and advanced negotiations with amajor medical device manufacturer regarding a multi-year development program.Ensurge also experienced consistent interest from leading companies acrossindustrial, consumer, sports, and entertainment sectors.OrganizationThe company has strengthened its team with battery experts including a new CTOand COO. Battery expertise is on track to represent more than 35% of the team,up from below 10%. Ensurge has implemented industry-standard, phase-gatedproduct development processes as the foundation for disciplined customerengagement and execution.Financial highlights- Operating expenses in Q4 2025: USD 3.3 million compared to USD 2.7million inQ4 2024, driven by personnel, facilities, equipment, materials anddiscontinuation of R&D capitalization. - Capitalization of R&D costs discontinued as of December 2025 in linewith thecompany's current status. No impact on cash flow. - Cost-reduction initiatives exceeding USD 2 million annually have beeninitiated across all business areas.Outlook Ensurge is focused on product validation and establishing the foundation forcommercial scale-up. The company estimates its total addressable market atmorethan USD 4 billion, with growth above 22% CAGR.For further information, please contact: ir@ensurge.comAbout Ensurge Micropower ASAEnsurge Micropower develops ultra-thin, flexible solid-state lithiummicrobatteries that enable next-generation electronic devices. The company'sproprietary platform is designed to deliver safe, high-performance energystorage in space-constrained applications across medical devices, hearables,wearables, industrial systems, and defense. Ensurge Micropower ASA is listedonthe Oslo Stock Exchange under the ticker ENSU.https://newsweb.oslobors.no/message/666424