Exhibit 99.3

A New Breed of Battery Investor Presentation June 2021

Disclaimer INDUSTRY AND MARKET DATA Although all information and opinions and or other information expressed in this presentation (this “Presentation”), including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Solid Power, Inc. (“Solid Power” or the “Company”) and Decarbonization Plus Acquisition Corporation III (“DCRC”) have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. Some data is also based on the good faith estimates of Solid Power and DCRC, which are derived fromtheir respective reviews of internal sources as well as the independent sources described above. This Presentation contains preliminary information only, is subject to change at any time and is not, and should not be assumed to be, completeorto constitute all the information necessary to adequately make an informed decision regarding your engagement with Solid Power and DCRC. FORWARD-LOOKING STATEMENTS This Presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934 and the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, each as amended. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this Presentation, and on the current expectations of Solid Power’s and DCRC’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Solid Power and DCRC. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination between Solid Power and DCRC (the “Proposed Business Combination”), including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Proposed Business Combination or that the approval of the equity holders of DCRC or Solid Power is not obtained; failure to realize the anticipated benefits of the Proposed Business Combination; risks relating to the uncertainty of the projected financial information with respect to Solid Power; risks related to the rollout of Solid Power’s business and the timing of expected business milestones; the effects of competition on Solid Power’s business; supply shortages in the materials necessary for the production of Solid Power’s products; risks related to original equipment manufacturers and other partners being unable or unwilling to initiate or continue business partnerships on favorable terms; the termination or reduction of governmentclean energy and electric vehicle incentives; delays in the construction and operation of production facilities; the amount of redemption requests made by DCRC’s public equity holders; the ability of DCRC or the combined company to issue equity or equity-linked securities in connection with the Proposed Business Combination or in the future; and those factors discussed below and in DCRC’s final prospectus filed with the Securities and Exchange Commission (the “SEC”) on March 25, 2021 under the heading “Risk Factors” and other documents of DCRC filed, or to be filed, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither DCRC nor Solid Power presently know or that DCRC and Solid Power currently believeare immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect DCRC’s and Solid Power’s expectations, plans or forecasts of future events and views as of the date of this Presentation. DCRC and Solid Power anticipate that subsequent events and developments will cause DCRC’s and Solid Power’s assessments to change. However, while DCRC and Solid Power may elect to update these forward-looking statements at some point in the future, DCRC and Solid Power specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing DCRC’s and Solid Power’s assessments as of any date subsequent to the date of this Presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither Solid Power, DCRC, nor any of their respective affiliates have any obligation to update thisPresentation. USE OF PROJECTIONS This Presentation contains projected financial information with respect to Solid Power. Such projected financial information constitutes forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such projected financial information are inherentlyuncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the projected financial information. See “Forward-Looking Statements” section above as well as the risk factors described below. Actual results may differ materially from the results contemplated by the projected financial information contained in this Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such information will be achieved. Neither DCRC’s nor Solid Power’s independent auditors have audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect theretofor the purpose of this Presentation. 2

Disclaimer (cont’d) IMPORTANT INFORMATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, DCRC plans to file a registration statement on Form S-4 (the “RegistrationStatement”) with the SEC, which will include a proxy statement/prospectus of DCRC. DCRC also plans to file other documents and relevant materials with the SEC regarding the Proposed Business Combination. After the Registration Statement has been cleared by the SEC, a definitive proxy statement/prospectus will be mailed to the stockholders of DCRC. SECURITYHOLDERS OF DCRC AND SOLID POWER ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS AND RELEVANT MATERIALS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED BUSINESS COMBINATION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND THE PARTIES TO THE PROPOSED BUSINESS COMBINATION. Stockholders will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information about DCRC and Solid Power once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. PARTICIPANTS IN THE SOLICITATION DCRC and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of DCRC in connection with the Proposed Business Combination. Solid Power and its officers and directors may also be deemed participants in such solicitation. Securityholders may obtain more detailed information regarding the names, affiliations and interests of certain of DCRC’s executive officers and directors in the solicitation by reading DCRC’s final prospectus filed with the SEC on March 25, 2021 and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the Proposed Business Combination when they become available. Information concerning the interests of DCRC’s participants in the solicitation, which may, in some cases, be different than those of DCRC’s stockholders generally, will be set forth in the proxy statement/prospectus relating to the Proposed Business Combination when it becomes available. FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated under the Securities Act. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any proxy statement/prospectus to be filed by DCRC with the SEC. Some of the financial information and data contained in this Presentation, such as EBITDA, EBITDA Margin and Free Cash Flow, have not been prepared in accordance with United States generally accepted accounting principles (“GAAP”). DCRC and Solid Power believe that these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to Solid Power’s financial condition and results of operations. DCRC and Solid Power believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating projected operating results and trends in and in comparing Solid Power’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitationofthese non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Solid Power’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. TRADEMARKS AND TRADE NAMES Solid Power and DCRC own or have rights to various trademarks, service marks and trade names that they use in connection withthe operation of their respective businesses. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties’ trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with Solid Power or DCRC, or an endorsement or sponsorship by or of Solid Power or DCRC. Solely for convenience, the trademarks, servicemarks and trade names referred to in this Presentation may appear with the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that Solid Power or DCRC will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. 3

Risk Factors RISK RELATED TO DEVELOPMENT AND COMMERCIALIZATION RISK RELATED TO LIMITED OPERATING HISTORY We face significant challenges in our attempt to develop our products and produce them at high volumes with We are an early stage company with a history of financial losses and expect to incur significant expenses and acceptable performance, yields and costs. The pace of development in materials science is often not predictable. continuing losses for the foreseeable future. Delays or failures in accomplishing particular development objectives may delay or prevent successful Our limited operating history makes evaluating our business and future prospects difficult and may increase the risk commercialization of our products. of your investment. If our batteries fail to perform as expected, our ability to develop, market, and sell our batteries could be harmed. If we fail to effectively manage our future growth, we may not be able to market and sell our battery cells Our relationships with our partners are subject to various risks which could adversely affect our business and future successfully. prospects. There are no assurances that we will be able to commercialize solid-state batteries from our joint Our management has limited experience in operating a public company. development relationships with our partners. We are subject to risks relating to the construction and development activities of our manufacturing facilities. RISK RELATED TO INTELLECTUAL PROPERTY We rely on complex machinery for our operations, and production involves a significant degree of risk and We rely heavily on our intellectual property, which includes patent rights, trade secrets, copyrights and know-how. If uncertainty in terms of operational performance and costs. we are unable to protect our intellectual property rights, our business and competitive position would be harmed. If our planned manufacturing plants do not become operable on schedule, or at all, or become inoperable, Our patent applications may not result in issued patents, which would result in the disclosures in those applications production of our battery cells and our business will be harmed. being available to the public. Also, our patent rights may be contested, circumvented, invalidated or limited in scope, Substantial increases in the prices for our raw materials and components, some of which are obtained in volatile any of which could have a material adverse effect on our ability to prevent others from interfering with our markets where demand may exceed supply, could materially and adversely affect our business. commercialization of our products. We may be unable to adequately control the costs associated with our operations and the components necessary to We have not performed exhaustive searches or analyses of the intellectual property landscape of the battery build our solid-state battery cells, and, if we are unable to control these costs and achieve cost advantages in our industry, therefore, we are unable to guarantee that our technology does not infringe intellectual property rights of production of our solid-state battery cells at scale, our business will be adversely affected. third parties. We may need to defend ourselves against intellectual property infringement claims, which may be If we are unable to attract and retain key employees and qualified personnel, our ability to compete could be time-consuming and could cause us to incur substantial costs. harmed. Our insurance coverage may not be adequate to protect us from all business risks. RISK RELATED TO FINANCE AND ACCOUNTING Our facilities or operations could be damaged or adversely affected as a result of natural disasters and other Our expectations and targets regarding the times when we will achieve various technical, pre-production and catastrophic events. production objectives depend in large part upon assumptions, estimates, measurements, testing, analyses and data We have been, and may in the future be, adversely affected by the global COVID-19 pandemic. developed and performed by us. If these assumptions, estimates, measurements, testing, analyses or data prove to be incorrect or flawed, our actual operating results and performance may suffer or fail to meet expectations. RISK RELATED TO INDUSTRY AND MARKET TRENDS Our projections are subject to significant risks, assumptions, estimates and uncertainties. As a result, our actual The battery industry and its technology are rapidly evolving and may be subject to unforeseen changes, such as future revenues, gross margin, EBITDA, EBITDA margin, expenses and free cash flow may differ materially from our technological developments in existing technologies or new developments in competitive technologies that could projections. adversely affect the demand for our battery cells. Incorrect estimates or assumptions by management in connection with the preparation of our financial statements The battery market continues to evolve and is highly competitive, and we may not be successful in competing in this could adversely affect our reported assets, liabilities, income, revenue or expenses. market or establishing and maintaining confidence in our long-term business prospects among current and future Our failure to timely and effectively implement controls and procedures required by Section 404(a) of the Sarbanes-partners and customers. Oxley Act could have a material adverse effect on our business. Our future growth and success are dependent upon consumers’ willingness to adopt electric vehicles. Our ability to utilize our net operating losses and tax credit carryforwards to offset future taxable income may be We may not succeed in attracting customers during the development stage or for high volume commercial subject to certain limitations. production, and our future growth and success depend on our ability to attract customers. The unavailability, reduction or elimination of government and economic incentives could have a material adverse We may not be able to accurately estimate the future supply and demand for our batteries, which could result in a effect on our business, prospects, financial condition and operating results. variety of inefficiencies in our business and hinder our ability to generate revenue. If we fail to accurately predict our manufacturing requirements, we could incur additional costs or experience delays. 4

Risk Factors (cont’d) RISKS RELATED TO LEGAL AND REGULATORY COMPLIANCE RISKS RELATED TO THE BUSINESS COMBINATION We are subject to regulations regarding the storage and handling of various products. We may become subject to Following the consummation of the Business Combination, DCRC’s sole material asset will be its direct equity product liability claims, which could harm our financial condition and liquidity if we are not able to successfully interest in Solid Power and will be accordingly dependent upon distributions from Solid Power to pay taxes and defend or insure against such claims. cover its corporate and other overhead expenses and pay dividends, if any, on its Class A common stock. From time to time, we may be involved in litigation, regulatory actions or government investigations and inquiries, If the Business Combination’s benefits do not meet the expectations of investors or securities analysts, the market which could have an adverse impact on our profitability and consolidated financial position. price of DCRC’s securities or, following the consummation of the Business Combination, the combined company’s We are subject to substantial regulation, including but not limited to export control regulations that govern our securities, may decline. technology, and unfavorable changes to, or failure by us to comply with, these regulations could substantially harm There can be no assurance that the combined company’s Class A common stock will be approved for listing on our business and operating results. Nasdaq or that the combined company will be able to comply with the continued listing standards of Nasdaq. We will incur significant increased expenses and administrative burdens as a public company, which could have an Subsequent to the consummation of the Business Combination, the combined company may be required to take adverse effect on our business, financial condition and results of operations. write-downs or write-offs, or the combined company may be subject to restructuring, impairment or other charges Our battery technology and our website, systems, and data we maintain may be subject to intentional disruption, that could have a significant negative effect on the combined company’s financial condition, results of operations other security incidents, or alleged violations of laws, regulations, or other obligations relating to data handling that and the price of our Class A common stock, which could cause you to lose some or all of your investment. could result in liability and adversely impact our reputation and future sales. This area of the law develops at a rapid DCRC and Solid Power will incur significant transaction costs in connection with the Business Combination. pace and we may not be able to monitor and react to all developments in a timely manner. As legislation continues The consummation of the Business Combination is subject to a number of conditions and if those conditions are not to develop and security incidents continue to evolve, we may be required to expend significant resources to continue satisfied or waived, the expected Business Combination may not be completed. to modify or enhance our protective measures to comply with such legislation and to detect, investigate and Legal proceedings in connection with the Business Combination, the outcomes of which are uncertain, could delay or remediate vulnerabilities to security incidents. Any future failure by us to comply with applicable cybersecurity or prevent the completion of the Business Combination. data privacy legislation could have a material adverse effect on our business, reputation, results of operations or financial condition. We are subject to various existing and future environmental health and safety laws, which may result in increased compliance costs or additional operating costs and restrictions. Failure to comply with such laws and regulations may result in substantial fines or other limitations that could adversely impact our financial results or operations. We are subject to multiple environmental permitting processes at the national, sub-national, and/or local level. Failure to obtain key permits and approvals may adversely impact our business. We are subject to anti-corruption, anti-bribery, anti-money laundering, financial and economic sanctions and similar laws, and non-compliance with such laws can subject us to administrative, civil and criminal fines and penalties, collateral consequences, remedial measures and legal expenses, all of which could adversely affect our business, results of operations, financial condition and reputation. 5

Transaction Summary Decarbonization Plus Acquisition Corporation III (NASDAQ: DCRC) is a publicly listed special purpose acquisition company with Offering Size approximately $350 million of cash held in trust. DCRC has entered into a business combination agreement with Solid Power PIPE size of $165 million Transaction reflects an approximate $1.2 billion enterprise value Valuation Implies a steep discount to peer trading levels Net of transaction expenses, Solid Power will have $599 million of cash to fund operations and growth¹ Pro-Forma Capital Structure No additional capital requirements necessary to deliver on business plan Pro-Forma Ownership ~67% existing Solid Power shareholders, ~24% SPAC and founder shares, ~9% PIPE investors Listing / Ticker NASDAQ: SLDP (post-merger) Erik Anderson Chief Executive Officer Founder & CEO, WestRiver Group DCRC priced IPO in March 2021 Exclusive focus on innovation economy, disrupter/attacker Exclusive focus on six decarbonization families: business models, brand leaders in breakthrough categories Decarbonization Team Early-stage investor history: Docusign, Teledoc, TopGolf of transport & Investment Focus 1. Electrification Robert Tichio Chairman 2. Greening of fossil fuels 3. Grid flexibility & resilience 16-year history, Riverstone Holdings LLC 4. Agriculture Partner; Menlo Park & New York liquids fuels (e.g., hydrogen) 5. Next generation ESG & Sustainability investment strategy oversight 6. Next horizon resource use (e.g., smart buildings) 1. Assumes no redemptions from public stockholders of DCRC. 6 6

Solid Power is the Leader in All-Solid-State Batteries (“ASSBs”) Developing and producing OEM-validated batteries and materials on industry standard equipment Company Highlights Key Investment Highlights 8 Years of R&D Disruptive, Scalable Business Model Addressing ~$500bn+ Market1 Founded in 2012 Proven Low-Cost Manufacturing Process at Pilot Scale 3 Years of Manufacturing Development Joint Development Agreements with Two Leading Auto OEMs Pilot Production Facility Operational Since 2019 Capital-Light Business Model 62 Employees World Class Team Extensive IP Portfolio and Trade Secrets Closed $130mm Series B Experienced and Deep Management Team Led By BMW, Ford and Volta Leading Investors Production Line Cells Validated by Multiple OEMs & Tier-1 Battery Producers Industry leader in All-Solid-State science and commercialization 1. See Slide 15. Battery opportunity assumes 70 kWh pack sizes and $75 / kWh. 7 7

Solid Power’s All-Solid-State Platform is a Revolutionary Advancement Significant improvements over lithium-ion Range Battery Life Safety Cost Next Gen Compatible More than Lower material with next gen double the Non-volatile, 482 vs 266 miles1 and pack system cathodes current 8-year 100% solid-state costs at scale driving the calendar life2 next leap Note: Solid Power cell performance metrics are initial commercialization design targets for lithium metal anode cell. 1. Comparison based on a 77 kWh lithium-ion pack with cylindrical cells (i.e. Tesla Model 3 Pack) with a system volume of 329 L. Solid Power mileage assumes a constant 329 L system volume delivering 138 kWh with a pack mass of 481 kg utilizing lithium metal anode cell design. 2. Solid Power estimates. 8 8

Real Results on the Path to Commercialization Rapid performance and manufacturing achievements with only $39mm of invested capital through Q1 2021 20 Ah 2 Ah 2020 0.2 Ah 2020 2019 22-Layer, 9 x 20 cm Cell 1-Layer, 5 x 10 cm Cell 10-Layer, 5 x 10 cm Cell Automotive Dimensions Independently tested by Auto OEMs, Tier-1 battery manufacturers and material suppliers1 Note: Lithium metal cell pouches shown. Each cell layer refers to the number of double-sided cathodes. 1. 0.2 Ah and 2 Ah cells have been independently tested to date with 20 Ah independent testing pending. 9

World-Class Partners are Committed to Electric Vehicles 25 electrified BEV, W PHEV models by 22bn by 2025 2023 into electrification, nearly 2x its previous commitment “By 2022, each of our four automotive plants Ford is “all in and will not cede ground to in Germany will be capable of manufacturing anyone” in delivering EV’s fully-electric vehicles” “We are accelerating all our plans – breaking constraints, increasing battery capacity, improving “2 million BEVs delivered to customers by On May 3rd, 2021 Solid Power announced the expansion of costs and getting more electric vehicles into our the end of 2025” Joint Development Agreements with BMW and Ford product cycle plan” “Being a leader in advanced battery technology “Solid Power now plans to begin producing automotive-scale batteries on the “Solid-state battery technology is important is of the utmost importance for BMW…We now company’s pilot production line in early 2022 as a result of our partners’ to the future of electric vehicles, and that’s have taken our next step on this path with Solid continued commitment to Solid Power’s commercialization efforts” why we’re investing directly” – Doug Campbell, CEO and Co-Founder of Solid Power. Power” -Frank Weber – Member of the Board of Management Both Ford and the BMW Group will receive full-scale 100 Ah cells for Ted Miller -Manager of Electrification Subsystems and Power Supply Research automotive qualification testing and vehicle integration … and the Platform Source: Company press releases. 10

Experienced Management Team Extensive history in battery science, materials and manufacturing Doug Campbell Pu Zhang TaeheeHan Co-Founder / CEO, Chairman VP, R&D Head of Strategic Partners Startup veteran with extensive experience in Former Director of Research at NavitasSystems Former R&D Manager at Nissan defense, space and energy storage Former Principal Research Scientist at A123 Ph.D. (Energy Engineering), University of North Previous Founder, CEO and Chairman of Roccor Systems Dakota and Co-Founder of i2C Solutions Ph.D. (Chemistry), Brown University MS (Civil Engineering), University of New Mexico Josh Garrett Brandon Kelly Uday Kasavajjula Chief Technology Officer VP, Engineering Director of Product Development Previously the Energy Storage Program Manager Former Senior Mechanical Engineer at MKS Former Lithium-Ion Cell Team Lead at Enevate at ADA Technologies Instruments and Principal Engineer at Johnson Controls MS (Mechanical Engineering), Colorado State Ph.D. (Mechanical Engineering / Material Science), Ph.D. (Chemical Engineering), Tennessee University Colorado State University Technological University MS (Chemical Engineering), Tennessee Technological University Derek Johnson Steve Fuhrman Luke Anderson Chief Operations Officer Chief Financial Officer Director of Automation Previously served as Vice President of Global Previously served as CFO or Finance VP for Digi- Former Controls Lead and Automation Engineer Research and Development at A123 Systems Data, Picosecond Pulse Labs, Rapt Media and The at NFT (Nuclear Filter Technology) Ph.D. (Chemical and Biological Engineering), Synergy Company BE (Mechanical Engineering), Colorado School of Colorado State University BS (Accounting), University of Denver Mines Dave Jansen Alexandra Gold Sikandar Iqbal President VP, Operations Director of Process Engineering Former President and CEO, Advanced Distributed Former Project Manager at Agilent Technologies Former Manufacturing Engineer at SaftAmerica Sensor Systems, Inc. Seasoned management Former Production Supervisor at Dawn Food Former Senior Consultant at ECO Energy experience in growth companies Products Conversion BS (Electrical Engineering), University of Arizona MBA, Duke University MS (Chemical Engineering), Lehigh University BS (Chemical Engineering), University of Colorado Boulder 11

Highly Experienced Pro Forma Board SLDP Doug Campbell Dave Jansen Erik Anderson Executive Chairman, Co-Founder / CEO President CEO, DecarbonizationPlus Acquisition CorpIII Startup veteran with extensive experience in Experienced hardware executive with experience CEO and Founder of WestRiverGroup defense, space and energy storage in Venture Capital and Angel Investing Proven investment history in growing, scalable Previous Founder, CEO and Chairman of Roccor Former President and CEO, Advanced Distributed businesses disrupting established industries and Co-Founder of i2C Solutions Sensor Systems, Inc. MS (Industrial Engineering), Stanford University MS (Civil Engineering), University of New Mexico BS (Electrical Engineering), University of Arizona BS (Industrial Engineering), Stanford University Matt Jones Rainer Feurer Steve Goldberg Managing Director North America, Member of the Board of Directors, BMW President, Air Access Solvay Ventures 23 year career at BMW group including various Former Operating Partner, Venrock, first-tier 20 years of venture capital investing in energy and roles in Sales, Strategy, M&A and his current venture firm material technologies position as SVP of Corporate Investments Multiple CEO / Board Director roles Start-up companies in the energy storage, solar, In addition to BMW, Rainer serves on the board of Co-Founder, DataRunway, Inc. smart grid, and transportation sectors BMW Brilliance Automotive, Spotlight, HERE Vice President at Nokia, Vice President / GM at MBA, Duke University Technologies, FREE NOW, PARK NOW, CHARGE Cylink BS (Mechanical Engineering), University of NOW Ph.D., Electrical Engineering, UC Santa Barbara California, Davis Ph.D. (Strategic Management), Cranfield University, MBA, BS MS, BS (Electrical Engineering), Washington University, St. Louis Robert Tichio Ted Miller David Schroeder Chairman, DecarbonizationPlus Manager, Ford Chief Technology Officer, Volta Acquisition Corp III Manager of Electrification Subsystems and Power Proven track record of successfully taking Partner, RiverstoneHoldings LLC Supply Research with global responsibility for Ford products from early concept to commercial battery technology research and development launch Goldman Sachs Principal Investments Area 25-year veteran of Ford Motor Company with Independent consultant for new technology J.P. Morgan M&A Group prior lithium battery experience at SAFT America efforts and energy efficiency standards MBA, Harvard Business School Bachelor’s in chemistry, Indiana University Ph.D. (Material Science and Engineering), BA, Dartmouth College University of Illinois 12

Table of Contents Compelling Market Opportunity Products and Technology Commercialization Roadmap Financials and Valuation Appendix Supplemental Technical Data 13

Compelling Market Opportunity Section 1 14

Compelling Market Opportunity The Electric Vehicle Transition is Underway When produced at scale, All-Solid-State Batteries are expected to rapidly capture significant market share Annual Global Passenger EV Sales EV Battery Total Addressable Market1 (Millions of Vehicles Sold) ($ in Billions) 45 50% 40 45% 100% EV adoption 40% $490bn TAM 35 Global 35% 30 EV 30% Penetration 25 2035 25% 20 20% 15 15% as % of Sales $220bn TAM 10 10% 5 5% 0 0% 2020 2025 2030 2035 Source: Bloomberg NEF. 15 1. Based upon BNEF’s estimates of global electric and non-electric vehicle production in 2035. Battery opportunity assumes 70 kWh pack sizes and $75 / kWh. 15

Compelling Market Opportunity Superior Energy Density is Central to the Pursuit of All-Solid-State 1600 Technologies on Solid Power product roadmap ASSB: Li Metal + Next Gen Cathode 1400 Performance LiNi0.5Mn1.5O4 LiNiPO4 Improvement Projected Tesla 1200 4860 cells 1000 1 2 / L 3 800 NMC (811) WH NCA90 NCA90 Ultra-low cost 600 NMC (622) NMC (811) NMC (811) 400 Li-Ion ASSB: Li Metal 200 0 0 100 200 300 400 500 600 700 WH / Kg Source: Bloomberg NEF and Solid Power. Note: The NMC (811) references in the graphic are for two different cell formats. The slightly lower volumetric energy density is for a pouch format and the slightly higher for a prismatic format (presumably stacked). NCA90 is in a cylindrical cell. All are based on real world energy densities. All comparisons in light blue are for prismatic cells. Solid Power cell performance metrics are initial commercialization design targets. 1 High-Content Silicon. 2 Lithium Metal. 3 Next Gen Cathode. 16

Compelling Market Opportunity Auto OEMs are Committed to the Solid-State Value Proposition “The automaker is searching for “The company announced a massive “Our new, state-of-the-art articulated manufacturing engineers to develop 150kWh battery with a difference. For a “The technology is a potential cure-all “Honda is planning to completely phase buses are making an important solid-state batteries. The five positions while now the industry has lusted after for the drawbacks facing electric vehicles out internal combustion engines from its contribution to climate protection and currently listed are all for Rivian’s Palo solid state batteries. These are heralded that run on conventional lithium-ion North American lineup by 2040… That the transition of transportation away Alto facility in California. Solid-state as being the next big innovation in batteries, including the relatively short means a combination of battery-electric from combustion engines. They are an batteries have been touted for their electric vehicle batteries, as they offer distance traveled on a single charge as and fuel-cell models will add up to 100% important element of climate-friendly potential of higher capacity compared to much higher energy density, great cycle well as charging times” of its sales by that time.” mobility” conventional lithium-ion batteries EV life, lower costs and can accept a faster automakers currently use” rate of charge” Solid-State Batteries are the key to Auto OEMs realizing battery electric vehicle goals “Automakers are pairing off with battery “The Alliance of Renault, Nissan, and “Vietnamese electric car startup VinFast “South Korean auto conglomerate companies to try to win the race to Mitsubishi is working on solid-state “Full capacity for solid-state batteries has announced a joint venture with Hyundai Motor Group aims to release 12 develop an electric vehicle battery that batteries and aims to deploy these could be achieved in 2028, or just in time Taiwanese battery cell manufacturer new electric vehicle models by 2025, costs less and has a much longer range… ‘before 2030, and by 2025 if possible.’ for the Volkswagen Group’s wholesale ProLogiumto accelerate solid-state battery-equipped car by 2030 Honda and Jaguar Land Rover, among Solid-state batteries are the new hope of switch to electrified powertrains” the commercialization of solid-state to achieve a global EV market share of 10 other companies, are working with Ilika the car industry that still aims for long battery-electric cars in Vietnam” percent by 2040” of the United Kingdom” range electric vehicles” Source: Press releases and news articles. 17

Compelling Market Opportunity And Our Partners Have Chosen… … the Platform 18

Compelling Market Opportunity The All-Solid-State Value Proposition Step function improvements over lithium-ion projected in essential areas ASSB Price Net of Incremental Value to Auto OEM2 Vehicle range1 Calendar life $/kWh cell price 482 miles >2x $142 / kWh ( 80% ) (Li-ion: 8 years) Safety Cost Not-volatile due to Simplified and lower cost packs removal of all liquid Reduced warranty cost $85/ kWh 10-20% and gels Vehicle design flexibility 0-5% 5-10% $55-70 / kWh Cycle life Charge rate 1,000+ cycles <20 minutes (369,000 miles) ( 10 90% charge ) Power1 Environment 922 HP No material recycling concerns Lithium-Ion Energy Density Safety Pack-Level Net Value ( ↑ 15% ) Today Premium Premium Cost Savings Adj. Price Initial demand driven by premium vehicles Rapid mass market adoption expected as cost parity achieved c. 2030 Source: Solid Power cell performance metrics are initial commercialization design targets for lithium metal anode cell. 1. Comparison based on a 77 kWh lithium-ion pack with cylindrical cells (i.e. Tesla Model 3 Pack) with a system volume of 19 329 L. Solid Power mileage assumes a constant 329 L system volume delivering 138 kWh with a pack mass of 481 kg, utilizing lithium metal anode cell design. 2. Solid Power estimates. 19

Compelling Market Opportunity The Industry Leaders are Pursuing a Sulfide-Based Solution Competing electrolyte material pathways to enable All-Solid-State Commentary Polymer Oxide Sulfide Polymer Oxide Sulfide Small temperature performance Conductivity an order of Highest ionic conductivity; Conductivity range requiring additional magnitude lower than sulfide comparable to liquid electrolytes 0 7 5 heating Rigid and brittle Compressible at room Flexible and elastic Ceramics require complex and Manufacturability temperature Easy to process hard to scale sintering 5 0 6 Easy to process Not practical for catholyte Thermal Stable up to 120 °C Stable up to 500+ °C Stable up to 450 °C Stability 7 5 6 May require pack-level cooling Composition must be designed Li Metal Does not only conduct Li ions Chemically stablebut dendrite to create stable passivating Compatibility which complicates Li plating prevention is a challenge 7 5 6 interface with Li metal Requires surface coatings and / Moisture exposure forms H2S Moisture or moisture free processing Bare-powder concern; easily Use water-reactive salts Stability 7 8 0 Degradation hurts performance, controlled in manufacturing but no safety hazards Limited reactivity in cells Representative Sulfides offer the best balance of Companies performance and mass production Source: Solid Power estimates. 20

Compelling Market Opportunity Industry Leader in Scalable, Truly Solid, All-Solid-State Batteries Proven Manufacturing Industry Validation All-Solid-State Process Only known company Cell performance No liquids and gels with operating validated by multiple enhances safety and roll-to-roll inorganic Auto OEMs and Tier-1 broadens temperature prototype cell producers performance manufacturing line 21

Compelling Market Opportunity History of Success Inception Contract Secured 1st Development Series A Funding Tangible Progress… Founded in 2012 by Doug Won $2.9mm contract with the Agreement Signed Announced closing of first round Delivery and validation of 0.2 Ah cells by OEMs in the Campbell, Conrad Stoldt, and Air Force for the development of Development of 1 Ah cell, of equity-based financing in second half of 2019 SeheeLee, spun out from the battery technology for the >250 Wh/ kg with BMW September of 2018, providing University of Colorado Boulder Intercontinental Ballistic Missile validation and capital from world-with funding from DARPA class partners. Until this point, …and Rapid Innovation the company had not raised any Delivery and validation of 2Ah cell by OEMs in equity-based financing the second half of 2020 Produced 320 Wh/ kg 20 Ah cells on production equipment, outperforming commercially available lithium-ion energy densities 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Poised for the Future Long-term Announced Series B funding and ARPA-E Funding OEM Buy In Partnership Joint Development Agreements with OEM partners Solid Power and its subcontracting Exclusive licensing In December of 2017, announced Secured with Solvay Ventures partners receive $4.5mm grant The Department of Energy’s Oak partnership with the BMW Group The BMW Group and Ford Motor from ARPA-E Ridge National Laboratory and to jointly develop Solid Power’s Company aim to utilize Solid Solid Power sign exclusive solid-state batteries for EV Pilot Production Line Power’s low-cost, high-energy Client company of Innosphere agreement licensing lithium- applications, specifically high Continuous process becomes all-solid-state battery technology Ventures sulfur materials performance EVs operational in early 2020 in forthcoming electric vehicles Technological Advancements Began Full-Force Development of Electrolyte Operates Safely at Developed the Sulfide-Based Solid Electrolytes Temperatures of ~150 OC 22-Layer Cell 22

Products and Technology Section 2 23

Products and Technology Two Product Groups Sulfide Solid Electrolytes Energy Dense Pouch Cells Proprietary solid electrolytes tuned Proprietary design and production for high conductivity and lithium of industry leading all-solid-state metal stability cells Best all-around performing solid Low-cost and scalable electrolyte materials Capital intensive Low-cost and scalable Intend to utilize Tier-1 cell suppliers Capital light with attractive margins as licensed commercialization Can be sold to entire universe of partners companies pursuing their own Will be sold to Ford and BMW and sulfide-based all-solid-state batteries compete for other Auto OEMs Other OEMs 24

Products and Technology The Most Advanced Known Solid Electrolytes Only Solid Power develops and produces at pilot scale and tests in large format cells on a scalable production line Conductivity Best all-around solid electrolyte materials produced using low-cost, scalable processes All precursors are common, commercial-grade materials produced in very large quantities, Low Density Li Metal Stability except Li2S—Li2S production is expected to significantly increase with commercialization of sulfide all-solid-state batteries Li2S precursor is being developed in-house and via partners—Designed for low cost and optimized for mass production—A portion of Li2S production will occur in-house Ni-Rich Cathode Currently producing up to 100 kg per month of solid electrolyte, which will need to be scaled Dendrite Resistance Compatibility to 500,000 kg per month by vehicle start of production Solid Power is researching more innovative, high throughput electrolyte processes to further drive competitive advantage R&D Current LiSiPSCl LLZO Material Solid Power’s current electrolyte and future R&D chemistry is posed to outperform competing sulfides Solid Power’s electrolytes offer the best combination of conductivity and cell-level performance 25

Products and Technology One Flexible All-Solid-State Platform Solid Power’s solid electrolyte can accommodate existing and prospective cathode and anode materials Core Technology: Flexible platform allows use of alternative anode + cathode materials to suit specific performance requirements Solid Electrolyte Unique variants tuned as electrolyte, catholyte and Silicon Based Anodes anolyte products High charge rates & lower temperature capability Lithium Metal Anodes Solid High energy Anolyte Anode High-Content Silicon Solid Electrolyte Ultra-Thin Lithium Metal Solid Intercalation-Type Cathodes Electrolyte Solid Electrolyte Industry-standard & commercially mature Cathode NMC 811 NMC 811 Solid Catholyte Conversion-Type Cathodes Low cost & high specific energy Electrolyte advancements through R&D are expected to benefit all anode and cathode chemistries 26

Products and Technology Solid Power Product Roadmap High-content silicon anode battery accelerates and de-risks delivery of industry leading technology to auto OEMs 390 Wh/ kg, 930 Wh/ L 1,000+ cycle life1 440 Wh/ kg, 930 Wh/ L <15 min charge1 (10 90%) 1 1,000+ cycle life High-Content Silicon <20 min charge1 (10 90%) Anode Current 560 Wh/ kg, 785 Wh/ L Collector Lithium Metal Solid 1,000+ cycle life1 Anode High-Content Silicon Anolyte <30 min charge1 (10 90%) Ultra-Thin Lithium Metal Separator Solid Electrolyte Next Gen Cathode Solid Electrolyte Ultra-Thin Lithium Metal Solid Cathode NMC 811 Catholyte Solid Electrolyte Solid NMC 811 Catholyte Solid Next Gen. Catholyte Cathode Current Collector Multi-product roadmap specifically geared to satisfy Auto OEM objectives of early and sustained success Note: Lithium metal anode portrayed in the fully-charged state.Solid Power cell performance metrics are initial commercialization design targets. 1. Solid Power estimates. 27

Products and Technology Superior Performance and Value Expected to Drive Mass Market Adoption 77 kWh pack: Today’s lithium-ion vs. Solid Power High-Content Silicon Lithium Metal Anode Product Anode Product Today’s % Today’s % Lithium-Ion Improvement Lithium-Ion Improvement System System 329L 184 L 44% 329L 184 L 44% Volume Volume System System 499Kg 304 Kg 39% 499Kg 269 Kg 46% Mass Mass Range 266 Miles 304 Miles 14% Range 266 Miles 308 Miles 16% Charge 15Min <15 Min Parity Charge 15Min <20 Min Parity Cost1 $10,934 $6,545 40% Cost1 $10,934 $6,545 40% Safety2 EUCAR £ 4 EUCAR £ 2 Cost Savings Safety2 EUCAR £ 4 EUCAR £ 2 Cost Savings Note: Analysis based on 77 kWh pack. Today’s lithium-ion figures are representative of 77 kWh pack with cylindrical cells (i.e.Tesla Model 3 Pack). Solid Power cell performance metrics are initial commercialization design targets. 28 1. Reduction in cost at cell level only. 2. European Council for Automotive R&D safety ratings. See slide 52 for EUCAR definitions. Additional savings from safety are expected but have not yet been quantified. 28

Products and Technology Proven MWh-Scale Prototype Production Line Nearly identical production process to lithium-ion; future lithium-ion process improvements expected to be transferable Since inception, compatibility with lithium-ion manufacturing processes Electrode has been fundamental to Solid Power’s strategy, driving the selection of a sulfide-based solution and subsequent R&D Utilizes industry standard lithium-ion production processes and equipment manufacturing Slurry Slot Die Electrode Calendaring / - Substantially de-risks commercial success Drying Mix Coating Slitting Lamination - Allows for rapid deployment of technology among early adopter platforms Lithium-ion - Existing production lines can be transitioned as market demand process steps grows (est. at 10% of cost of new plant) Assembly removed in solid-state - Minimal historical and future capex requirements to prove production commercialization Existing lithium-ion production infrastructure accommodates sulfide Consolidation solid electrolyte moisture sensitivity Stamping Stacking Packaging Filling Weld Solid Power’s process eliminates electrolyte filling and formation cycling, which account for approximately 5% and 30% of capex in typical GWh-scale lithium-ion facility, respectively Conditioning - Removing 1.5 to 3-week formation process further improves Solid Power throughput Roll-to-roll production line will have successfully produced 0.2 Ah, 2 Ah and 20 Ah form factors and Li Metal and Si anode cells by end of 2021 Pre- Characterization - Production line can be easily transitioned between Li Metal and Si Aging Degassing Formation Final Storage Formation & QC anode cells Solid Power is positioned to deliver superior cells at scale Source: Adapted from Bloomberg NEF. 29 29

Products and Technology CLICK HERE TO LEARN MORE ABOUT OUR SOLID POWER CELL PILOT LINE 30

Products and Technology Defined Path to Lithium-Ion Cost Parity Solid Power’s All-Solid-State Batteries cells -costs vs. time 100% 90% A 6.5 MWh / yr Cell costs are currently dominated by labor and Li-precursor materials 80% prototype pilot line Auto A and B Sample Cell bill of materials cost (“BOM”) are expected to have three major inflection points (%) 70% phases breakdown in purchase volumes related to cell production: 60% C B 100 MWh / yr—Prototype pilot line with production up to 6.5 MWh per year (existing) 50% pre-production line B 40% Auto C and D Sample—C and D Sample production, at 100 MWh per year (likely via a third-party) cost 30% phases A - Automotive introduction at 10 GWh per year Cell 20% 10% C 10 GWh/ yrline Greatest cost improvements are expected to come via supply chain development, Vehicle start of purchasing scale, and targeted vertical integration 0% 2020 2021 2022 2023 2025 2027 production—Today’s lithium-ion and Solid Power’s high-content silicon and lithium metal Materials Labor costs Depreciation Electricity Land Transportation anode cells will share common cathode active material Cell-Level Price Comparison At automotive scale, Solid Power’s BOM is expected to approach $60 / kWh and be dominated by cost of cathode active material (similar to lithium-ion) $142 / kWh Pack prices expected to add a further $25-$30 / kWh to lithium-ion costs in 2028;—Cathode active material ~58% of total BOM Solid Power packs expected to be cost advantaged - As Solid Power transitions to next generation cathode active materials, its $ / kW $85 / kWh advantage over lithium-ion batteries has the potential to be a further step function improvement $60 Total cell BOM—Current Cathode Active Material: ~$35 / kWh (80% Ni intercalation-type) $35 Cathode active materials—Next Gen Cathode Active Material: ~$3 / kWh (Conversion–type) (1) Lithium-Ion Today Source: Bloomberg NEF and company estimates. 1. Solid Power’s initial commercialization design targets for lithium metal anode cell. 31

Commercialization Roadmap Section 3 32

Commercialization Roadmap Uniquely Positioned for Rapid Development and Scaleup Solid Power is focused across the core value chain Key Sulfide-Based All-Solid-State Developers Electrolyte Precursor Production Electrolyte Areas Development Development Electrolyte Production Key Cell Development Cell Production Constant, pure feedback loop allows for more rapid and intelligent iteration 33 33

Commercialization Roadmap 2017 vs Now TODAY 2017 Material Material Pouch Cell Manufacturing Pouch Cell Manufacturing Development Development Charging Charging Energy Throughput Energy Throughput Rate Rate 2C(1) 320 Wh/ kg >100 / week 0.1C 250 Wh/ kg ~2 / week As-measured specific Max at room temperature Maximum 2-Ah cell Stack-level specific Maximum 1-Ah cell energy of 20 Ah cells Max for rechargeable energy of 0.17 Ah cells throughput throughput pouch cells 20x increase 60% increase 50x scale inc. Energy / Energy / Power Scale Power Cost Scale Cost Up to Up to (2) 100kg 25 µm 100 µm <1kg 10ms / cm Electrolyte produced per 3.5ms / cm Separator thickness Room temperature month Room temperature Separator thickness for Electrolyte produced per electrolyte conductivity electrolyte conductivity rechargeable pack cells month +3x increase 75% decrease 100x increase Temperature Scale Quality Temperature Scale Quality (3) 29°C 20 Ah Semi-automated 70°C 170m Ah Hand-built cells with no production with quality Nominal operating formal QC steps in place Current capacity checks throughout temperature Nominal operating Maximum capacity for temperature rechargeable pack cells 41°C decrease 133x increase Scaled QC 1. Si anode cells sustain a 2C charge rate at room temperature. 2. Si anode cells incorporate 25 micron separators; Li metal anode cells incorporate 50 microns or higher. 3. Li metal anode cells have been produced at 20 Ah scale. Si anode cells transitioning to the 20 Ah scale in Q3 2021. 34

Commercialization Roadmap Pathway to Vehicle Start-of-Production (“SOP”) High-content silicon and lithium metal anode development timelines Pre A-Sample A-Sample B-Sample C-Sample D-Sample 2020 2021 2022 2023 2024 2025 2026 2027 Product Solid Electrolyte Refine Product Mass Production High-Content Silicon Anode Cell Cell: 2 Ah-20 Ah Cell: 100 Ah Design Validation Execute Production Validation Build SOP Li Metal Anode Cell Cell: 2 Ah-20 Ah Cell: 100 Ah Design Validation ExecuteProduction Validation Build SOP Note: Refer to slide 49 for definitions of Sample stages. 35

Commercialization Roadmap High-Content Silicon Anode Battery Roadmap Improvements in cell-level energy achieved through well-defined cell design optimization plan Anode Composite Pre A-Sample A-Sample Target B-Sample Target Anode Current Anolyte 320 Wh/ kg, 740 Wh/ L1 340 Wh/ kg, 770 Wh/ L 390 Wh/ kg, 930 Wh/ L Collector Pouch Energy Density Pouch Energy Density Pouch Energy Density Anode High-Content Silicon Electrolyte 2C 3C 3C+ Solid Electrolyte Room temperature Room temperature Room temperature max charge rate max charge rate max charge rate Conductive Carbon Key Design Optimizations Key Design Optimizations (Pre-A Sample to A-Sample) (A-Sample to B-Sample) Increase footprint and number of layers Increase mAh/ cm2 Cathode NMC811 Active Material Decrease stack pressure requirement Decrease separator thickness Match small pouch cell performance on Increase cathode specific capacity higher throughput 100 Ah cell pilot line Catholyte Minimize resistance within layers Cathode Current Collector Binder Today Commercial Design Freeze Note: All energy densities based on volumes of fully-charged cells. Refer to slide 49 for definitions of Sample stages. 1. Projected to 100 Ah cell based on cell stack-level values 340 Wh/ kg and 900 Wh/ L. 36

Commercialization Roadmap Lithium Metal Anode Battery Roadmap Improvements in cell-level energy achieved through well-defined cell design optimization plan Pre A-Sample A-Sample Target B-Sample Target Li Metal 320 Wh/ kg, 550 Wh/ L1 360 Wh/ kg, 760 Wh/ L 440 Wh/ kg, 930 Wh/ L Anode Current Pouch Energy Density Pouch Energy Density Pouch Energy Density Collector Ultra-Thin Lithium Metal Electrolyte Anode C / 10 1C 2C+ Room temperature Room temperature Room temperature Solid Electrolyte Conductive Carbon max charge rate max charge rate max charge rate Key Design Optimizations Key Design Optimizations (Pre-A Sample to A-Sample) (A-Sample to B-Sample) Active Material Increase footprint and number of layers Cathode NMC811 Increase mAh/ cm2 Minimize resistance within layers Improve charge rate capability at low Decrease separator thickness Catholyte temperatures Cathode Current Decrease separator thickness Increase cathode specific capacity Collector Decrease stack pressure requirement Binder Increase cathode specific capacity Today Commercial Design Freeze Note: All energy densities based on volumes of fully-charged cells. Refer to slide 49 for definitions of Sample stages. 1. As measured in 20 Ah cell. 37

Financials and Valuation Section 4 38

Financials and Valuation Pro Forma Equity Ownership US$ in millions, unless otherwise stated Sources and Uses Capitalization SOURCES USES SHARE PRICE $10.00 DCRC Cash In Trust1 $350 Rollover Equity $1,239 Pro Forma Shares Outstanding3 184.2 PIPE Proceeds 165 Cash to Balance Sheet1 599 Equity Value $1,842 Rollover Equity 1,239 Deal Expenses 40 Less: Pro Forma Net Cash (596) Existing Cash and Equivalents2 124 Enterprise Value $1,246 Total $1,878 Total $1,878 Pro Forma Ownership3,4 Commentary1 DCRC Shareholders Solid Power Existing Shareholders 19% $350 million DCRC cash in trust + $165 million PIPE 67% $1.2 billion pro-forma enterprise value Implied 0.7x 2028E Revenue and 2.6x 2028E EBITDA Founder Shares Strong balance sheet with an estimated $599 million cash upon closing of the 5% transaction Fully financed business plan with flexibility to accelerate growth organically PIPE Investors and via M&A 9% 1. Assumes no redemption by DCRC’s public stockholders. 2. As May 31, 2021. 3. Comprised of 123.9 million shares owned by existing Solid Power shareholders, 16.5 million PIPE shares, 35.0 million DCRC shares outstanding and 8.8 million Founder Shares. DCRC shares outstanding subject to exercise of redemption rights in connection with DCRC shareholder vote. 4. Excludes public and private warrants of DCRC. 39

Financials and Valuation Summary Projected Financials US$ in millions, unless otherwise stated 2021E 2022E 2023E 2024E 2025E 2026E 2027E 2028E ~800k vehicles annually (assumes 100kWh pack) VOLUMES ~10% market share of BMW and 3RD PARTY MANUFACTURING (GWH) 0.1 0.4 6 50 80 Ford’s 7.8mm vehicle sales ELECTROLYTE MATERIAL (TONNES) 50 200 3,000 25,000 40,000 <1% share of 90+mm vehicle TAM3 INCOME STATEMENT Commentary CELL REVENUE $0 $1 $2 $0 $1 $20 $170 $272 Fully-funded business through ELECTROLYTE REVENUE 0 1 1 8 30 105 875 1,400 and beyond vehicle SOP OTHER REVENUE 2 1 1 2 2 7 2 2 (2026E) and self-funding beyond TOTAL REVENUE $2 $3 $4 $10 $33 $132 $1,047 $1,674 % GROWTH Solid Power to manufacture 54% 46% 127% 239% 297% 691% 60% electrolyte materials and license cell designs and manufacturing IP to Tier-1 cell TOTAL GROSS PROFIT ($0) ($1) ($0) $7 $27 $48 $373 $596 manufacturers for actual cell GROSS MARGIN % NM NM NM 76% 81% 36% 36% 36% production Production volumes based upon preliminary feedback EBITDA1 ($21) ($39) ($40) ($32) ($6) $14 $302 $480 from partners EBITDA MARGIN % NM NM NM NM NM 10% 29% 29% High margins and relatively modest near-term negative CAPEX free cash flow profile reflect ($19) ($36) ($35) ($40) ($100) ($70) ($70) ($50) Solid Power’s unique technology and capita-light model FREE CASH FLOW2 ($37) ($73) ($72) ($69) ($102) ($56) $209 $317 1. Operating profit plus depreciation. 2. EBITDA plus interest income less increase in net working capital, capex and income taxes. 3. International Organization of Motor Vehicle Manufacturers. Based on 2019 global vehicle prediction, includes cars and commercial vehicles. 40 40

Financials and Valuation Considering a Framework for Solid Power’s Valuation Leading ASSB Platform Technology Capital Light Business Model Long-Standing Partnership – Ford and BMW Robust Margins 256% 29% 0.7x Proven Roll-to-Roll Manufacturing Capability Compelling Valuation 2026 -28 2028 EV / 2028 Revenue CAGR EBITDA Margin Revenue Battery Engaged in the development of semi-solid-state 384% 25% 1.8x batteries Technology 2026 -28 2028 EV / 2028 Capital intensive business model Revenue CAGR EBITDA Margin Revenue Value added technology components LiDAR Capital light business models 117% 31% 7.0x 2023 -25 2025 EV / 2025 Levered to electrification and ESG tail winds Revenue CAGR(1) EBITDA Margin(1) Revenue(1) Hydrogen Technology and industry disruptors 45% 17% 8.5x Growing into massive TAM 2023 -25 2025 EV / 2025 Revenue CAGR EBITDA Margin Revenue Market leading battery manufacturers EV  Capital intensive business model 29% 21% 7.7x Enablers(2) Established high growth companies; ~5 years ahead 2021 -23 2023 EV / 2023 of Solid Power Revenue CAGR EBITDA Margin Revenue Source: FactSetas of June 11, 2021. Median statistic shown for public company groups. 1. Velodynerepresents 2022 -24 Revenue CAGR, 2024 EBITDA margin and 2024 Revenue multiple. 2. Primary basis for multiples used in discounted enterprise value analysis. 41

Financials and Valuation Valuation Benchmarking EV / Revenue Battery LiDAR Hydrogen EV Enablers Transaction Value Technology at Announcement 10.4x 9.4x 8.3x 8.7x 5.9x 3.5x 3.6x 1.8x 0.5x 2.3x 0.7x 0.5x 2028 2028 2025 2024(2) 2025 2025 2023 2023 (1) EV / EBITDA Battery LiDAR Hydrogen EV Enablers Transaction Value Technology at Announcement 68.5x 44.9x 39.9x 29.4x 23.7x 3.3x 20.0x 10.5x 7.1x 7.9x 2.6x 2.0x 2028 2028 2025 2024(2) 2025 2025 2023 2023 (1) Source: FactSet as of June 11, 2021. 1. Based on at transaction financial estimates. 2. No public 2025 estimates available. 42

Financials and Valuation Operational Benchmarking Revenue CAGR Battery LiDAR Hydrogen EV Enablers Technology 384% 256% 3.3x 154% 80% 48% 42% 37% 22% 2026 -28 2026 -28 2023 -25 2022 -24(2) 2023 -25 2023 -25 2021 -23 2021 -23 (1) EBITDA Margin Battery LiDAR Hydrogen EV Enablers Technology 44% 29% 25% 3.3x 22% 21% 20% 18% 12% 2028 2028 2025 2024(2) 2025 2025 2023 2023 (1) Source: FactSet as of June 11, 2021. 1. Based on at transaction financial estimates. 2. No public 2025 estimates available. 43

Financials and SOLID POWER Valuation Solid Power Offers a Compelling Valuation with Significant Upside Post-Money Discounted Future Enterprise Value Enterprise Value Enterprise Value Multi–Pronged Platform Upside $16.7bn $10.0bn Apply a range of 6.0x – 10.0x EV / Revenue multiple to Solid Power’s $6.7bn 2028E revenue ($1.7bn) to arrive at an implied Future Enterprise Value ~332% Midpoint Premium Future value enterprise range is $4.0bn discounted 5 years to arrive to an $1.2bn implied discounted value range Post-Money Discounted 5 Years 6.0x – 10.0x TEV / Enterprise Value (2026 to 2021) T + 2 Revenue at 20% (2028 revenue in 2026) 44

Appendix 45

Appendix Validation from Automotive OEMs Automotive OEMs recognize the importance of All-Solid-State to the future of EVs and Solid Power’s leadership BMW Overview Ford Overview German premium vehicle manufacturer with American vehicle manufacturer with “Ford and BMW now share leading positions in the race for all solid-state battery-~2.3m premium vehicles sold by BMW Group ~4.5mm vehicle retail sales and ~4.2mm powered electric vehicles. in 2020 vehicle wholesales in 2020 700,000 vehicles with electrified drive trains Ford is expected to produce ~600k EVs by Solid Power will begin producing automotive-scale batteries on the company’s pilot on roads by end of 2020; BMW expects that 2030 and 2.3mm EVs by 2040 (50% of production line in early 2022 as a result of our partners’ continued commitment to Solid more than 50% of its sales in 2030 will be sales) Power’s commercialization efforts.” electrified vehicles Committed to invest at least $22Bn Doug Campbell – CEO and co-Founder of Solid Power including EUR 6.3 bninvested focus activities in R&D in the fields activities in 2020 of – through 2025 vehicles, nearly to twice its deliver connected, previous EV electric electrification, battery research, digitalization investment plans brands brands “Being a leader in advanced battery technology is of the utmost importance for BMW. The development of all solid-state batteries is one of the most promising and important steps towards more efficient, sustainable, and safer electric vehicles. We now have taken our Key Key next step on this path with Solid Power. Together we have developed a 20 Ah all solid-state cell that is absolutely outstanding in this field. Over the past 10 years BMW has continuously increased the battery cell Partnership History Partnership History competence– important partners like Solid Power share our vision of a zero-emission mobility.” Frank Weber – Member of the Board of Management Relationship dating back to 2016 conducting all-solid- Ford participated in Solid Power’s Series A funding in state battery research and development 2018, providing plan validation and capital Announced partnership with Solid Power to jointly Announced investment and partnership in 2019 to “Solid-state battery technology is important to the future of electric vehicles, and that’s develop all-solid-state battery technology in 2017 jointly develop all-solid-state batteries via Solid why we’re investing directly. Power’s roll-to-roll production line Expanded partnership with Solid Power in 2021 with By simplifying the design of solid-state versus lithium-ion batteries, we’ll be able to increase Series B investment and joint development Expanded partnership with Solid Power in 2021 with vehicle range, improve interior space and cargo volume, deliver lower costs and better agreement for full-scale 100 Ah cells for testing and Series B investment and joint development value for customers and more efficiently integrate this kind of solid-state battery cell vehicle integration agreement for full-scale 100 Ah cells for testing and technology into existing lithium-ion cell production processes” vehicle integration Ted Miller – Manager of Electrification Subsystems and Power Supply Research Recent JDAs represent shift from collaborative R&D to vehicle integration programs 46

Appendix Solid Power Battery Ecosystem Partnering Across the Supply Chain Innovating Where it Matters Leveraging Our Core Competencies Material Suppliers & Producers 1 Solid Power Electrolyte Sourcing and Production Solid Power Electrolyte Catholyte Next Gen Active of Cell Materials Cell Design / Processing Cathode Material Electrode Design Future Li2S Production Partners Cell Design Cell Producers 2 Lithium Foil Lamination Future Cell Production Partners Ecosystem Partners Production Equipment Design Anode Cathode Active Material Cathode Binder 3 Auto OEMs Slurry Composition Joint Development Agreements Cooperative R&D Lithium Electrolyte Interface 47

Appendix Key Performance Metric Definitions Category Description Energy Density Measure of how much energy a battery contains relative to its weight (Wh/ kg) or volume (Wh/ L) Power Density Measure of the max rate of charge / discharge per weight of battery Charge Rate Time (in minutes) it takes to recharge the battery often defined as the C Rating; a battery with a 1C rate will take 60 minutes to full charge Cycle Life Number of charge and discharge cycles that a battery can sustain until its capacity falls below 80% of the original capacity Calendar Life The time for which a battery can be stored, as inactive or with minimal use, such that its capacity remains above 80% of the original capacity Ability of the battery to perform across a wide range of temperatures, particularly are ambient and low temperatures; EVs usethermal management systems Operating Temperature to support stable operation in required temperature ranges Safety Robustness of cell design and operation with respect to minimizing the risk of fire or explosion on battery failure Conductivity Measure of how electrical current moves within the solid electrolyte in Siemens per meter (S / m) Manufacturability Ease of processability to work electrolyte into a battery cell in a scalableprocess ThermalStability Stabilityof electrolyte material over a wide temperature range, especially at high temperatures Li Metal Stability Degree of reactivity / interfacial resistance the solid electrolyte has with aLi Metal anode Moisture Stability Degree of reactivity the solid electrolyte has with moistureor water 48

Appendix A-D Sample Definitions Category Description Use Solid Power Cell Format Proof of concepts or functions to ensure basic requirements as a Pre-A Sample Proof of concept 0.2 Ah,2 Ah & 20 Ah prototypes product or process Cell ConceptValidation (CV) based on Probe multiple designs and material combinations to test performance A-Sample Full Scale 100 Ah customer requirements against customer requirements Cell materialsand design are frozen and the sample performance meets Full Scale 100 Ah B-Sample Cell Design Validation (DV) customer specifications (Module and pack testing and validation begins) Full Scale 100 Ah Final design (B-Sample)manufactured on production tooling and cell C-Sample Cell ProcessValidation (PV) (pack testing continues and vehicle integration meets customer specifications for prototypes) Full Scale 100 Ah D-Sample Production Validation (PV+) Full cell production at rate with needed quality and process certifications (vehicle level testing) Full Scale 100 Ah Product Sales product Supply customer at requested volumes (full production) Note: Solid Power follows a stage gate product development approach guided by APQP (Advanced Product Quality Planning). 49

Appendix Solid Power Manufacturing Process Savings Eliminating formation cycling is crucial to the ASSB process Conditioning Removal of Conditioning Eliminates ~29% of 80% of = capex in a typical GWh-scale Conditioning Li-Ion production plant steps Final storage Pre-formation Aging Degassing Formation Final storage Receiving and shipping “The largest contributor to processing cost 10% 1% 11% Materials preparation during battery production is the electrolyte 5% Electrode coating interphase formation step… Calendering This process may take up to three weeks, Materials handling requiring a tremendous number of cycles, Eliminated 29% 18% Electrode slitting floor space and intense energy for the Vacuum drying cyclers and environmental chambers.” Control laboratory 2% 1% Cell assembly in dry room 2% 2% Oak Ridge 5% 2% Formation cycling and testing 17% BatPac – Argonne National Lab Filling Eliminated Module and pack assembly Rejected cell and scrap Source: Argonne National Lab and Solid Power. 50 50

Appendix All-Solid-State Enables Further Cost Savings at the Pack-Level Virtual Teardown of a Notional EV Battery Pack EV Battery Pack Cost Proportions1 Battery Housing Cover Aluminum Crash Structure 17% Junction Box (aluminum sheet) Housing Tray 6% Battery Frame 3% 5% Cooling 60% system No cooling required, 9% likely just heating Lower Protection Cover Cells Thermal Management System (TMS) Batery Management System (BMS) Cell Module Safer cells allow for Cabling and Wiring Battery less pack protection removing mass and Other Components Management Controller cost Assembly Safer and higher density all-solid-state is expected to yield significant benefits at the pack-level 1. Cairn ERA. 51 51

Appendix EUCAR Hazard Levels Cell hazard levels are the outcome of performed safety tests and are classified under the EUCAR Hazard level table HAZARD LEVEL DESCRIPTION CLASSIFICATION CRITERIA & EFFECT Safety levels are <=4 for: 0 No effect Noloss of functionality Current state-of-the-art cells Cell irreversibly damaged and repair needed with no defect, exothermic Target 2023 mass market, low range cells 1 Passive protection activated reaction, thermal runaway or higher level hazards Target 2030 mass market, high range cells Cell irreversibly damaged and repair needed with no exothermic reaction, 2 Defect / damage Target 2030 mass market commercial cells thermal runaway or higher level hazards Leakage,a change in mass of 3 Loss in electrolyteweight of less than than 50% with no higher level hazards less than 50% Venting,a change in mass of 4 Loss in electrolyteweight of more than 50% with no higher level hazards more than or equal to 50% 5 Fire or Flame Exothermic reaction or thermal runaway with no rupture or explosion 6 Rupture No explosion, but flying parts of the active mass Deemed hazardous 7 Explosion Disintegration of the cell Cells with Hazard levels greater than 4 are a non-starter Source: European Council for Automotive R&D. 52

Supplemental Technical Data

Supplemental Technical Data High-Content Silicon Cell Energy Density: >1000 Wh/ L Path to 100 Ah Si-NMC Pouch Cell with up to 420 Wh/ kg & 1020 Wh/ L (in charged state) Reduced Electrolyte-Separator Thickness Increased Cathode Layer Specific Capacity 450 1100 450 1100 Energy 1000 Energy Today 1000 400 Cell 400 Cell Energy Energy Specific 900 Specific 900 350 350 (Wh/ kg) 800 (Wh/ L) Density (Wh/ kg) 800 (Wh/ L)Density Target Today Target 300 300 Cell 700 Cell 700 250 600 250 600 10 20 30 40 120 140 160 180 Separator Thickness (microns) Cathode Layer Specific Capacity (mAh/ g) Increased Capacity Per Area Increased Anode Layer Specific Capacity 450 1100 450 1100 Today Today Energy 1000 Energy 1000 400 Cell 400 Cell Energy Energy Specific 900 Specific 900 350 350 (Wh/ kg) 800 (Wh/ L) Density (Wh/ kg) 800 (Wh/ L)Density Target Target 300 300 Cell 700 Cell 700 250 600 250 600 3 4 5 6 7 1200 1700 2200 2700 Areal Loading (mAh/ cm2) Anode Layer Specific Capacity (mAh/ g) 54

Supplemental Technical Data Lithium Metal Cell Energy Density: >1000 Wh / L (Deposited Li) Path to 100 Ah Li-NMC Pouch Cell with up to 475 Wh/ kg & 1015 Wh/ L (in charged state) Reduced Electrolyte-Separator Thickness Increased Cathode Layer Specific Capacity 600 1200 600 1200 Today 550 550 Energy 1100 Cell Energy Today 1100 Cell 500Energy 500 Energy Specific 1000 Specific 1000 450 450 (Wh / kg) 900 (Wh / L) Density (Wh / kg) Target 900 (Wh / L)Density 400 400 Target Cell 800 Cell 800 350 350 300 700 300 700 0 10 20 30 40 50 60 120 140 160 180 Separator Thickness (microns) Cathode Layer Specific Capacity (mAh / g) Increased Capacity Per Area Designing for 100 Ah pouch cell >1000 Wh/L 600 1200 7 Today <1000 550 Energy 1100 Wh / L Cell 6 500 Energy (pouch 1000 cell) Areal Specific 450 5 Loading (Wh / kg) 900 (Wh / L) Density >1000 Target (mAh / cm 400 Wh / L 2 Target ) (pouch 4 Cell 800 350 cell) Today 300 700 3 2 3 4 5 6 140 150 160 170 180 190 Areal Loading (mAh / cm2) Cathode Layer Specific Capacity (mAh / g) 55