Oklo Inc.

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paragraph:5: Exhibit 99.1 FY 2024 Shareholder Letter 2 Oklo team members celebrating the company’s public debut at the New York Stock Exchange. Dear shareholders, The world is catching up to what we’ve known all along: nuclear power is essential to a clean, dependable, and scalable energy future. In 2024, Oklo took bold steps to lead this transformation. We went public, advanced development at our first commercial site at Idaho National Laboratory (INL), and built a customer pipeline of ~14 GW—one of the largest in our field. At the same time, nuclear energy has gained unprecedented government support,1 and AI has triggered a Sputnik moment, accelerating the demand for dependable, domestic power.2 Our partnership with Equinix was the first commercial advanced nuclear energy deal that included an investment in the data center sector. And we capped the year with a landmark energy agreement, one of the largest of its kind, with data center developer Switch. It’s clear that AI’s rapid evolution means it will only become more accessible and scalable— if we have the power to support it. But the need for clean, abundant power goes beyond AI. Oklo is positioned to deliver across sectors, with agreements across manufacturing, defense, oil and gas, and more. We have proven technology, deep regulatory expertise, and a scalable, repeatable model that enables us to co-locate our powerhouses onsite, directly supplying our customers’ facilities. We’ve already made big strides in 2025: evolving our powerhouse offering to scale up to 75 MW, partnering with RPower on a gas-to-nuclear strategy, and expanding into radioisotope production with our strategic acquisition of Atomic Alchemy. These moves unlock new revenue opportunities and open additional markets for Oklo. As the only company with both a site use permit and secured fuel for our first deployment, Oklo remains on track to deliver commercial power by the end of 2027, backed by a strong and growing customer pipeline. Sincerely, Jacob DeWitte Founder & CEO, Oklo Letter to shareholders 3 Key milestones Signed one of the largest corporate power agreements in history with Switch for 12 GW of power, bringing confirmed customer interest to ~14 GW Signed a Letter of Intent (LOI) with Equinix for 500 MW, accompanied by a $25 million pre-payment Signed an LOI with Prometheus Hyperscale for 100 MW Signed an LOI with Diamondback Energy for 50 MW Customer pipeline Began trading on the New York Stock Exchange under the symbol “OKLO” Completed acquisition of Atomic Alchemy, enabling accelerated radioisotope production Entered into strategic partnership with RPower to provide customers with a natural gas bridge to nuclear power Designated Siemens Energy as Oklo’s preferred supplier of power conversion technology Partnered with Oak Ridge National Laboratory to advance structural material testing to enhance durability and optimize manufacturing Corporate development Expanded powerhouse offering to scale to a 75 MW design to meet customer demand Secured key U.S. Department of Energy (DOE) approvals, including a Memorandum of Agreement (MOA) for siting and an Environmental Compliance Permit for Oklo’s first Aurora powerhouse at INL Began drilling, testing, and site characterization for Oklo’s first commercial powerhouse, backed by DOE approvals Project execution Advanced pre-application engagement with the U.S. Nuclear Regulatory Commission (NRC) and transitioned toward scheduling a Pre-Application Readiness Assessment for Oklo’s combined license application (COLA) On track to submit custom COLA to the NRC this year Licensing progress Signed a Memorandum of Understanding (MOU) with Lightbridge Corporation to explore co-locating fuel fabrication and collaborating on advanced nuclear fuel recycling Completed successful end-to-end demonstration of advanced nuclear fuel recycling process Fuel fabrication & recycling Closed highly successful business combination with AltC Acquisition Corporation, resulting in $276 million in cash proceeds net of fees Full year cash used in operations of $38.4 million, below our forecasted range of $40-50 million Financial 3 4 In March 2025, Oklo welcomed Daniel B. Poneman and Michael Thompson as new members of our Board of Directors. They join following the departure of Chris Wright, who stepped down upon his confirmation as U.S. Secretary of Energy.3 Daniel B. Poneman Daniel B. Poneman has decades of experience in the U.S. nuclear industry. He served as U.S. Deputy Secretary of Energy (2009-2014), and later, he led Centrus Energy Corp. as President and CEO (2015- 2023), where he led the launch of the first domestic, technology-enabled uranium enrichment production since 1954. Michael Thompson Michael Thompson has over 25 years of experience investing in and advising technology companies. Since 2017, he has served as CEO and Managing Partner of Reinvent Capital, a private investment fund focused on technology. He was previously the Founder and Managing Director of BHR-Capital, a New York-based hedge fund. “The long-awaited American nuclear renaissance must launch during President Trump’s administration. As global energy demand continues to grow, America must lead the commercialization of affordable and abundant nuclear energy. As such, the Department will work diligently and creatively to enable the rapid deployment and export of next-generation nuclear technology.”4 CHRIS WRIGHT U.S. Secretary of Energy Former CEO of Liberty Energy and Former Oklo Board Member Oklo appoints two new board members 5 Oklo’s fast reactors can now deliver between 15 MW and 75 MW of power from a single powerhouse to flexibly address the diverse power needs from our broad customer base. Scaling our 50 MW reactor design up to 75 MW enables us to address increased demand from large data center customers through fewer powerhouse deployments, without adding any notable technical, design, or regulatory complexities. Oklo’s 50 MW reactor now scales up to 75 MW to meet increased demand from large customers Oklo’s modular approach offers customers distinct advantages over traditional large-scale reactors Instead of relying on a single large plant, Oklo builds small, modular powerhouses incrementally, allowing energy production to scale alongside customer growth. Scalable from MW to GW scale to meet power needs Ability to provide > 99% reliability by deploying multiple powerhouses Flexible, phased deployment to align with customer timelines Reduced grid interconnection and infrastructure costs Enables build-own-operate model to sell power directly to customers Lowers supply chain, fabrication, and labor costs Reduces timelines and avoids mega-project execution risks Enables access to project financing for flexible funding Phase 1: 250 MW data center Phase 2: 500 MW data center Phase 3: > 1,000 MW data center Data centers Oklo powerhouses CUSTOMER BENEFITS BUSINESS MODEL BENEFITS 5 Product update 6 Total capacity in Oklo's customer pipeline 14 GW Other selected data center power deals: $25M pre-payment for a 20-year PPA, providing up to 500 MW of power to Equinix data centers Non-binding Letter of Intent (LOI) to deliver 100 MW of power to its data center campus through a future 20-year PPA Customer agreements span data center, manufacturing, oil and gas, defense, and other industries. “Our relationship with Oklo underscores our commitment to deploying advanced nuclear power at a transformative scale for our data centers, further enhancing our offerings of one of the world’s most advanced data center infrastructures to current and future Switch clients.” ROB ROY Founder and CEO of Switch Oklo + Switch: One of the largest corporate power agreements in history Oklo has the largest order book in the advanced nuclear industry Oklo and Switch have signed a non-binding Master Power Agreement to provide 12 GW of advanced nuclear power to Switch by 2044. This landmark strategic relationship will accelerate industry decarbonization, scale Oklo’s powerhouses, and provide clean energy for AI, cloud, and enterprise data centers across the United States. 0 2 4 6 8 10 Deal announcement (7/2023) 2Q update (8/2024) 3Q update (11/2024) 4Q update (3/2025) 12 14 GW 6 Oklo + RPower: A natural gas bridge to nuclear power Oklo and RPower are partnering on a first-of-its-kind phased energy strategy to deliver immediate power and long-term clean energy for customers. RPower’s natural gas generators will provide bridge power for select projects, then shift to providing backup power as Aurora powerhouses come online, providing high uptime and reliability. NEAR TERM RPower’s natural gas generators are deployed within 24 months, bringing prime power online in accelerated timeframes. TRANSITION Aurora powerhouses are installed onsite as they become commercially available. FUTURE As Aurora powerhouses come online, natural gas generators transition to backup power, providing enhanced reliability. Why this approach wins NEW PATH FOR REVENUE CLEAR PATH TO CLEAN ENERGY Combines proven tech with long-term energy deals for earnings Accelerates transition to sustainable nuclear power CUSTOMERS POWERED QUICKLY Helps data centers and high-demand users get reliable power 1 2 3 Three-phase strategy: The gas-to-nuclear pathway “Our relationship with Oklo represents a powerful way to bridge today’s energy demands with tomorrow’s clean energy solutions. We are excited to bring this phased model to market, providing valuable and timely energy solutions to our customers while advancing their sustainability goals.” JAMIE SMITH President & Chief Development Officer of RPower 7 Atomic Alchemy’s vertically integrated production facilities will supply high-value radioisotopes amid a global radioisotope shortage.5 Atomic Alchemy is well situated to supply high-value radioisotopes for various applications, including fueling radioisotope thermoelectric generators used by companies like Zeno Power. Revenue could potentially be generated as soon as 2026. APPLICATIONS Oklo acquires Atomic Alchemy SPACE Powering deep-space exploration and satellite systems HEALTHCARE Crucial for diagnostics, medical imaging, and cancer therapies DEFENSE Ensuring reliable power for unmanned systems and critical operations ARTIFICIAL INTELLIGENCE Silicon doping of advanced semiconductor chips INDUSTRY Enabling precise measurement, testing, and monitoring 8 Oklo expands into radioisotope market Four core areas of innovation—what Atomic Alchemy does PRODUCING ISOTOPES WITH A CUSTOM REACTOR Using a purpose-built reactor to create a wide range of medical, industrial, and research radioisotopes through irradiation 2 RECOVERING VALUABLE MATERIALS FROM WASTE Extracting useful radioisotopes from discarded sources like old cancer therapy materials and uranium mining byproducts 1 REUSING BYPRODUCTS FROM OKLO’S RECYCLING PROCESS Converting byproducts into valuable co-product materials and isotopes from Oklo’s recycled fuel 3 EXPLORING NEW ISOTOPES WITH FAST REACTORS Producing isotopes with versatile reactors—unlocking new frontiers in science, medicine, and space 4 NUCLEAR R&D Enabling advanced nuclear fuels and materials characterization and qualification 9 Oklo is advancing plans to deploy a commercial-scale fuel recycling facility, scaling proven recycling technology to establish a sustainable, domestic fuel supply. This initiative is supported by strong partnerships with the DOE, the Advanced Research Projects Agency-Energy (ARPA-E), and leading national laboratories. Transforming nuclear waste into a sustainable, domestic energy supply 1.2 trillion barrels of oil7 U.S. used nuclear fuel reserves total 94,000 metric tons6—which would fit on a football field stacked 10 yards high and is the energy equivalent of Oklo’s advanced reactors can utilize either recycled or fresh fuel Oklo’s vertical integration across nuclear power and fuel recycling makes us a differentiated leader, with reactors designed to operate on either fresh high-assay low-enriched uranium fuel or recycled nuclear fuel, ensuring a flexible and stable energy supply. 10 yards Why this matters: FUEL SUPPLY ADVANTAGE Can utilize existing used nuclear fuel stored at nuclear plants across the U.S. PROVEN NUCLEAR FUEL RECYCLING Transforming used fuel into a sustainable, domestic energy supply CLOSING THE FUEL CYCLE Recycling utilizes the remaining 95% of energy stored in used nuclear fuel COST EFFICIENCY Using recycled fuel reduces fuel costs by up to 80% Oklo is pioneering nuclear fuel recycling 10 Oklo is building the next generation of nuclear technology at INL Aurora Fuel Fabrication Facility This facility will fabricate recovered nuclear material from the EBR-II reactor into fuel for the neighboring Aurora Powerhouse. DOE approved the facility’s Safety Design Strategy and Conceptual Safety Design Report, marking key regulatory milestones. Oklo is the only company with secured fuel for its first commercial advanced nuclear power plant. Aurora Powerhouse Oklo’s first commercial powerhouse will provide clean, reliable power to customers, generating robust and steady revenue. The Powerhouse will be powered by recycled fuel fabricated at the Aurora Fuel Fabrication Facility. Radioisotope Production Facility Atomic Alchemy’s facility will produce high-value radioisotopes, strengthening the U.S. commercial supply chain for critical and life-saving applications. The facility can also harvest valuable radioisotope co-products from the waste stream of Oklo’s fuel recycling facility. In partnership with INL, Oklo is building out our full nuclear technology platform, which includes the Aurora Powerhouse, the Aurora Fuel Fabrication Facility, and a Radioisotope Production Facility. 10 11 Aurora Powerhouse site work kicks off at INL Oklo has achieved major DOE regulatory milestones and has begun drilling, testing, and site characterization efforts at INL for our first commercial Aurora powerhouse. Backed by a DOE site use permit, the project is on track for deployment in late 2027 to early 2028. Oklo closely collaborated with INL, DOE, and the Shoshone-Bannock Tribes to complete cultural and biological surveys and secure work authorization, ensuring environmental protection and construction safety. Oklo’s first powerhouse will be fueled with fuel fabricated at the Aurora Fuel Fabrication Facility at INL, for which Oklo is currently seeking DOE authorization. 11 12 Oklo to submit NRC application for first Aurora powerhouse in 2025 Oklo’s custom COLA includes: 20 40 60 80 100 Time (months) Design Certification 24–36 months 36–42 months *Done by design developer, includes just design scope. **Done by design developer with operator (e.g., utility), includes financial information, siting information, environmental report, operational and security programs, etc. (1) In an S-COLA, we believe only new information need be re-reviewed. This is expected to involve significantly less content, limited generally only to site-specific data. Additionally, current efforts are working toward a 6-month licensing timeline, and the ADVANCE Act laid out timelines for 18-month safety and environmental reviews. Oklo’s advantage comes from policy changes and streamlined processes, rather than implying a different regulatory approach. Oklo plans to submit our custom COLA8 to the NRC this year, covering the design, construction, and operation of the Aurora Powerhouse at INL. Oklo remains on track to deploy our first Aurora powerhouse in late 2027. In preparation, Oklo has advanced pre-application engagement with the NRC and is moving toward scheduling a Pre-Application Readiness Assessment for our COLA. Additionally, the NRC has proposed reducing hourly service fees for advanced nuclear reactor applicants by nearly 55%9 starting October 1, 2025, aligning with the ADVANCE Act10 mandate, which was recently signed into law to accelerate the deployment of next-generation nuclear technologies. Other developers: Part 50 Construction Permit Operating License Operate 24-36 months 24-36 months Other developers: Part 52 *Design Certification **Construction and Operation Operate 42 months 24-36 months 12 24-36 months Oklo: S-COLA(1) (Subsequent Deployments) Operate 6-18 months Oklo: COLA (First Deployment) Operate 0 OKLO’S INTEGRATED BUSINESS MODEL UNLOCKS A FASTER PATH TO LICENSING Oklo’s custom COLA includes all aspects of design, construction, and operation, significantly reducing overall review time. Siting Design/ analysis Financial information Environmental report Operational programs Security programs State and local info Review timeline 13 Key 2024 financial highlights Oklo became a public company in May 2024 by successfully completing our business combination with AltC Acquisition Corp. (AltC), receiving $276 million in proceeds net of fees. Management reports the following full-year financial results: Oklo’s full year loss from operations was $52.8 million, driven by payroll, professional fees, and other general business expenses. These costs included approximately $12.5 million in non-cash stock-based compensation not in our original forecast. When adjusted for these amounts, we were at $40.3 million, at the low end of our $40–50 million forecast. vs. forecast of $40-$50M Loss from operations $52.8M FULL YEAR 2024 Our full year net loss of $73.6 million comprises $52.8 million loss from operations, $27.9 million in fair market value charges on SAFE notes prior to conversion, and tax expense of $0.7 million, offset by $7.7 million in interest income. Net loss Net loss $73.6M FULL YEAR 2024 Our cash used in operating activities was $38.4 million, derived from a net loss of $73.6 million partially offset by the net impact of non-cash fair market value impacts on SAFE notes, non-cash stock-based compensation charges, and net changes to our working capital all totaling $35.2 million. Cash used in operating activities $38.4M FULL YEAR 2024 Year-end cash and marketable securities were $275.3 million, primarily driven by proceeds received from our business combination with AltC, and will continue to be used to support deployment of our first powerhouse at INL, license application fees, progression of our fuel recycling activities, and operations for our recently acquired Atomic Alchemy business. As of December 31 Cash and marketable securities $275.3M FULL YEAR 2024 14 2024 2023 Cash and cash equivalents $97,132 $9,868 Marketable debt securities 130,682 - Prepaid and other current assets 4,125 4,331 Total current assets $231,939 $14,199 Marketable debt securities 47,473 - Property and equipment, net 1,202 578 Operating lease right-of-use assets 982 83 Other assets 140 25 Total assets $281,736 $14,885 Accounts payable $2,970 $2,274 Accrued expenses and other 1,885 836 Operating lease liabilities 481 94 Total current liabilities 5,336 3,204 Operating lease liabilities, net of current portion 543 - Simple agreements for future equity - 46,042 Right of first refusal liability 25,000 - Total liabilities 30,879 49,246 Commitments and contingencies: Stockholders' equity (deficit): Class A common stock, $0.0001 par value – 500,000,000 shares authorized; 137,706,596 and 69,242,940 shares issued and outstanding as of December 31, 2024 and 2023, respectively 14 7 Additional paid-in capital 383,739 27,125 Accumulated deficit (135,109) (61,493) Accumulated other comprehensive income 2,213 - Total stockholders’ equity (deficit) 250,857 (34,361) Total liabilities and stockholders’ equity $281,736 $14,885 OKLO INC. CONSOLIDATED Balance sheets (in thousands, except share data) Years ended December 31 15 2024 2023 Research and development $26,711 $9,763 General and administrative 26,090 8,873 Total operating expenses 52,801 18,636 Loss from operations (52,801) (18,636) Change in fair value of simple agreements for future equity (27,864) (13,717) Interest and dividend income 7,732 180 Total other income (loss) (20,132) (13,537) Loss before income taxes (72,933) (32,173) Income taxes (683) - Net loss (73,616) (32,173) Basic and diluted Class A common stock: Net loss per share $(0.74) $(0.47) Weighted-average common shares outstanding 98,910,013 68,891,996 OKLO INC. CONSOLIDATED Statements of operations (in thousands, except share data) Years ended December 31 16 2024 2023 Net loss $(73,616) $(32,173) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 268 75 Change in fair value of simple agreements for future equity 27,864 13,717 Accretion of discount on marketable debt securities (520) - Stock-based compensation 12,484 777 Change in operating assets and liabilities: Prepaid and other current assets (1,520) (126) Other assets (115) 26 Accounts payable (1,762) 1,344 Accrued expenses and other (1,504) 384 Operating lease right-of-use assets and liabilities 31 (22) Net cash used in operating activities (38,390) (15,998) Purchases of property and equipment (352) (83) Purchase of marketable debt securities (291,620) - Proceeds from redemptions of marketable debt securities 116,198 - Net cash used in investing activities (175,774) (83) Proceeds from recapitalization 276,210 - Proceeds from exercise of stock options 1,044 114 Proceeds from right of first refusal liability 25,000 - Proceeds from simple agreements for future equity 10,232 19,325 Payment of deferred issuance costs (11,058) (3,144) Net cash provided by financing activities 301,428 16,295 Net increase in cash and cash equivalents 87,264 214 Cash and cash equivalents - beginning of year 9,868 9,654 Cash and cash equivalents – end of year $97,132 $9,868 Supplemental disclosure of cash flow information: Cash paid for interest $ - $ - Cash paid for income taxes 907 - Supplemental noncash investing and financing activities: Reclassification of deferred issuance costs in connection with business combination $5,510 $ - Reclassification of simple agreements for future equity in connection with business combination 84,138 - Deferred issuance costs included in accounts payable 1,906 443 Deferred issuance costs included in accrued expense and other - 122 Purchases of computer software in accounts payable and accrued expense and other 540 392 OKLO INC. CONSOLIDATED Statements of cash flows (in thousands) Years ended December 31 17 This letter includes statements that express Okloʼs opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” The words “may,” “will,” “could,” “should,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continue,” “might,” “possible,” “potential,” “predict,” “project,” “goal,” “would,” “commit” or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this letter and include statements regarding our intentions, beliefs or current expectations concerning, among other things, the timing, goals and benefits of nuclear fuel recycling, environmental benefits and goals of Okloʼs projects, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this letter, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Okloʼs future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the development and deployment of Oklo’s powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; risks related to acquisitions, divestitures, or joint ventures we may engage in; the potential need for financing to construct plants; market, financial, political and legal conditions; the effects of competition; risks related to accessing HALEU and recycled fuels; risks related to our supply chain; risks related to power purchase agreements; risks related to human capital; risks related to our intellectual property; risks related to cybersecurity and data privacy; changes in applicable laws or regulations; the outcome of any government and regulatory proceedings and investigations and inquiries; the risk that the acquisition of Atomic Alchemy fails to produce the expected benefits; and those factors in the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this letter and in any document incorporated by reference are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. FORWARD LOOKING STATEMENTS 18 1. The White House. Unleashing American Energy. Published January 20, 2025. Accessed March 18, 2025. https://www.whitehouse.gov/presidential-actions/2025/01/unleashing-american-energy/ 2. Goldman Sachs. AI to drive 165% increase in data center power demand by 2030. Published February 4, 2025. Accessed March 18, 2025. https://www.goldmansachs.com/insights/ articles/ai-to-drive-165-increase-in-data-center-power-demand-by-2030 3. U.S. Department of Energy. Statement from Energy Secretary Chris Wright. Published February 3, 2025. Accessed March 18, 2025. https://www.energy.gov/articles/statement-energy-secretary-chris-wright 4. U.S. Department of Energy. Secretary Wright Acts to “Unleash Golden Era of American Energy Dominance.” Published February 5, 2025. Accessed March 18, 2025. https://www. energy.gov/articles/secretary-wright-acts-unleash-golden-era-american-energy-dominance 5. BBC. Radioisotope shortage could cause cancer treatment delays. Published October 3, 2024. Accessed March 18, 2025. https://www.bbc.com/news/articles/c2e7gzvdz0wo 6. U.S. Government Accountability Office. Nuclear Waste Disposal. Accessed March 18, 2025. https://www.gao.gov/nuclear-waste-disposal 7. U.S. Energy Information Administration, DOE, World Nuclear Association, Company Analysis Calculated as amount of existing waste nuclear fuel (metric tons) multiplied by the energy content in used nuclear fuel (83,634 GJ/kg) divided by energy content per BOE (6.12 GJ/ BOE). 8. U.S. Nuclear Regulatory Commission. Combined License Applications for New Reactors. Accessed March 18, 2025. https://www.nrc.gov/reactors/new-reactors/large-lwr/col.html 9. U.S. Government Publishing Office. Proposed Rules. Published February 19, 2025. Accessed March 21, 2025. https://www.govinfo.gov/content/pkg/FR-2025-02-19/pdf/2025-02779.pdf 10. U.S. Congress. S.1111 - ADVANCE Act of 2023. 118th Congress. Accessed March 18, 2025. https://www.congress.gov/bill/118th-congress/senate-bill/1111 CITATIONS 19 Investor Relations investors@oklo.com Communications & Media media@oklo.com oklo.com Press Releases & Media Features

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paragraph:7: 2 MICHAEL KLEIN Founder & Managing Partner of M. Klein & Company, Founder of Churchill Capital JACOB DEWITTE Co-founder, CEO, and Board of Directors Member CHRIS WRIGHT Founder & CEO of Liberty Energy, Inc. (NYSE: LBRT) LT. GEN (RET.) JOHN JANSEN United States Marine Corps RICHARD W. KINZLEY Former CFO of Black Hills Corporation (NYSE: BKH) CAROLINE COCHRAN Co-founder & COO of Oklo SAM ALTMAN Founder & CEO of OpenAI “We are entering an era of unprecedented energy demand—rivaled perhaps only by initial conversion to electrification over a century ago. The world is now recognizing nuclear’s role in powering that future. I’m confident we’ll look back on 2024 as the turning point in our mission to deliver clean, reliable, and affordable energy for all. Momentum is building every week—regulators are modernizing, bipartisan support is growing, and some of the most influential companies are investing heavily in the space. At Oklo, our focus on building small-scale, modern fission powerhouses—designed to be easily repeatable—along with our model of selling power directly to customers, allows us to accelerate timelines, reduce complexity, and scale to meet demand. With a site permit and secured fuel, we believe we’re poised to be a leader in deploying advanced nuclear by late 2027. As the world experiences an extraordinary transformation driven by AI, the future demands an equally bold solution for energy. We’re proud to lead the way.” WORLD-CLASS BOARD OF DIRECTORS

paragraph:8: Key Q3 milestones 3 Customer Pipeline Regulatory Milestones Added two data center customers to our pipeline DOE approved the Fuel Fabrication Facility Design Secured environmental compliance permit for Idaho site from the DOE These letters of intent (LOIs) increase Oklo’s total announced customer pipeline to 2,100 Megawatts, a 200% increase since our business combination announcement in July 2023. The DOE's approval of the Conceptual Safety Design Report for Oklo's Aurora Fuel Fabrication Facility in Idaho is a key milestone toward using recovered nuclear material to fuel Oklo’s first commercial Aurora powerhouse. This confirms no significant environmental impacts, enabling Oklo to move forward with site characterization. Project Execution Corporate & Business Development Began site preparation for Oklo's first powerhouse Signed term sheet to acquire Atomic Alchemy The Memorandum of Agreement (MOA) with the DOE was signed in September 2024 and allows Oklo to conduct site investigations at our preferred site in Idaho. Oklo intends to make an acquisition of Atomic Alchemy, Inc. in a $25 million all-stock transaction, which will provide unique technology enabling the extraction of radioisotopes as a coproduct of the Oklo fuel recycling process. Radioisotopes are essential materials that are in short supply but have rapidly growing applications in critical cancer treatment, diagnostic imaging, and clean energy.

paragraph:9: Due to the rapid growth in data center power needs, along with the massive anticipated increase in power required by AI, tech giants like Microsoft, Google, and Amazon are turning to nuclear energy.1 In the past quarter, these companies announced deals for new nuclear power builds and reopening existing nuclear sites. Oklo's 50 MW powerhouses present a strong commercial opportunity with scalable technology. With a proven model, early market entry, and reliable baseload power, we believe Oklo is poised to lead in this space.* 4 Growing support for nuclear energy development Data center boom drives shift toward nuclear energy Major market developments AI power use projected to outpace capacity this decade AI power demand is expected to grow rapidly by 2030, projected to outpace server capacity despite advancements in server efficiency and the development of more energy-efficient AI technologies and applications.2 0 0.0 50 1.0 100 2.0 150 3.0 200 4.0 250 AI Power use, TWh AI Power demand Power use per AI server Max power use per AI Server, KW 5.0 2022 2023E 2025E 2027E2024E 2026E 2028E 2029E 2030E *Oklo’s model works for companies building data centers, as well as other sectors like defense, industrial and manufacturing, real estate, and oil and gas. Fourteen financial institutions (e.g., Bank of America and Goldman Sachs) voiced support for tripling nuclear energy capacity by 2050.3 Global banks support tripling nuclear capacity The U.S. government selected four vendors for up to a $2.7B Uranium Enrichment Contract (including a subsidiary of our partner Centrus Energy Corp.) to develop a U.S. supply chain for HALEU.4 HALEU supply chain gets a boost Congress expressed support for commercial recycling of used nuclear fuel with the Advancing Research in Nuclear Fuel Recycling Act.5 New bipartisan bill to support fuel recycling

paragraph:10: 5 Powering AI: New customer updates Oklo was one of the first advanced nuclear companies to announce deals to power data centers, setting the stage for advanced nuclear energy's AI power supply and giving us a clear market advantage. Oklo's benefits for data center customers 1 BUILD-OWN-OPERATE BUSINESS MODEL SCALABLE SIZE Technology companies don’t need to invest in energy operations and can instead simply buy power. Small reactors capable of gigawatt scale and flexibility with phased deployment and 15 MW and 50 MW size options. PROVEN COMMERCIAL TECHNOLOGY Based on proven fast reactor technology with a low-cost design and sourced from conventional energy supply chains. “The strong customer response reflects confidence in Oklo’s power solutions. Our approach empowers customers to scale sustainably with reliable power aligned with long-term goals—all without the burden of managing the facilities themselves.” JACOB DEWITTE Co-founder and CEO of Oklo Oklo has a partnership with Equinix, Inc. that includes a $25M pre-payment for a future 20-year PPA for up to 500 MW of power for its data centers. Oklo has received a non-binding LOI with Prometheus Hyperscale (formerly known as Wyoming Hyperscale) to supply 100 MW of clean power to a state-of-the- art data center campus through a 20-year Power Purchase Agreement (PPA). Oklo has received two Power Purchase LOIs to provide up to 750 MW of energy for data center projects. This increases Oklo’s total customer pipeline to 2,100 MW, a 200% increase since our business combination announcement in July 2023.

paragraph:11: Data CentersAuora Powerhouses Oklo’s repeatable processes and use of multiple, small-scale powerhouses aim to scale to meet the growing power demand with flexibility and efficiency. Customer pipeline update “At Prometheus Hyperscale, we're excited to partner with Oklo to revolutionize how we power operations. Oklo's innovative approach delivers dedicated power directly to our sites, tailored to our needs, ensuring a reliable onsite energy source. This direct-to-customer model frees us from traditional utilities, streamlining our path from concept to deployment. With Oklo, we’re enhancing our scalability and resilience, fueling our growth well into the future.” Oklo makes it easy for customers to purchase clean, reliable, affordable energy. We are is in active discussions with companies across sectors, including data centers, defense, industrial, manufacturing, real estate, and oil and gas. Strong customer interest post- buisness combination Continued customer development in our pipeline, amounting to 2,100 MW of clean power CUSTOMER HIGHLIGHTS 6 TRENTON THORNOCK CEO of Prometheus Hyperscale (formerly known as Wyoming Hyperscale) CUSTOMER TESTIMONIAL COST EFFICIENCY Lower project costs, phased deployment, and adaptable power solutions help optimize ROI and reduce risks. WHY CUSTOMERS CHOOSE OKLO SCALABILITY Our licensing approach and small powerhouses are designed to be easily repeatable. FLEXIBLE MODEL Multiple 15 MW and 50 MW powerhouses on one site aim to deliver cost-effective, reliable power with lower financing risk. ATTRACTIVE BUSINESS MODEL Oklo makes it easier for our customers who want to buy power, to buy power.

paragraph:12: 7 Radioisotopes are essential materials used in critical applications such as cancer treatment, space exploration, diagnostic imaging, and clean energy technologies. These materials are currently in short supply.6 Atomic Alchemy has developed reactor and radioisotope production technologies that generate radioisotopes, which can leverage the nuclides sourced from the nuclear fuel recycling process, from in-reactor irradiation, and from existing used nuclear material. With this proposed acquisition, Oklo can integrate radioisotope production into our fuel recycling process, creating a complementary revenue stream and helping to strengthen the isotope supply chain. Oklo doesn't expect any near-term increase in operating costs as a result of the acquisition, allowing us to scale our operations efficiently while maintaining our financial discipline. Strategic acquisition *Disclaimer: Oklo proposes to acquire Atomic Alchemy for $25 million in an all-stock transaction. All shares issued to existing shareholders of Atomic Alchemy in connection with the transaction will be subject to multi-year lock- ups. Upon closing, Atomic Alchemy is expected to have minimal immediate impact on Oklo’s operating cost structure, and the transaction is not expected to have impact on Oklo’s previously announced 2024 outlook. Oklo intends to turn our strategic partnership with Atomic Alchemy into an acquisition to integrate radioisotope production and coproduct sales COMPLEMENTARY TECHNOLOGY URGENT NEED FOR A NEW SUPPLY CHAIN Radioisotope technologies can significantly enhance the economics of nuclear fuel fabrication and recycling through the sales of high-value radioisotope coproducts. Aging infrastructure and foreign reliance highlight the need for a domestic radioisotope supply. Oklo and Atomic Alchemy’s facility, expected to be online in 2028/2029, will address this need. MASSIVE MARKET DEMAND DIVERSE REVENUE OPPORTUNITIES The market for medical radioisotopes is estimated to be $55.7 billion by 2026,7 with other sectors expected to grow rapidly with increases in radioisotope supply. Oklo’s reactor generates radioisotopes as a valuable coproduct of its fuel recycling process, allowing revenue from both coproduct and recycled fuel. Recycling nuclear waste enables reliable and cost-effective fuel supplies. Radioisotopes are a coproduct of recycling with massive revenue opportunities. Atomic Alchemy’s Neutron Transmutation Doping (NTD) technology is considered the "gold standard" for silicon doping. Using reactor neutrons to convert silicon to phosphorus, NTD enables uniform doping across entire ingots. This scalable process adapts to various semiconductor types, meeting the rising demand for advanced materials. We believe integrating NTD into Oklo’s operations could position us as a leader in next- generation semiconductor production and that NTD may be transformative to the semiconductor industry. "GOLD-STANDARD" SILICON DOPING FOR NEXT- GENERATION SEMICONDUCTORS SAM ALTMAN Chairman & Board Member of Oklo | Founder & CEO of OpenAI “I deeply believe in the importance of abundance and reliable energy for the future, and Oklo’s proposed acquisition of Atomic Alchemy opens the door for nuclear technology to play an even greater role in solving critical energy, medical, and industrial challenges.”

paragraph:13: 8 First commercial deployment JANUARY 2024 Safety Design Strategy approval OCTOBER 2024 PRIOR TO START OF CONSTRUCTION PRIOR TO START OF CONSTRUCTION CSDR approval Preliminary Documented Safety Analysis (PSDA) Documented Safety Analysis • 30% completion of the draft PDSA. Targeting submission to the DOE in mid-2025. • The Aurora Fuel Fabrication Facility, co- located at INL, reached a significant milestone with the DOE’s approval of its Conceptual Safety Design Report (CSDR). • This facility will enable Oklo to utilize recovered nuclear material as fuel for our first powerhouse. • The CSDR is the second of four DOE regulatory requirements. • Oklo finalized a new Memorandum of Agreement (MOA) with the DOE to advance siting. • This MOA enables site assessments, environmental surveys, and geotechnical studies to ensure a smooth transition to construction. • Oklo completed the Environmental Compliance Permit (ECP) and is preparing to begin geotechnical characterization with a leading provider of infrastructure and environmental solutions. Oklo's Aurora powerhouse progress Oklo is preparing to deploy our first commercial Aurora Powerhouse at Idaho National Laboratory (INL) in 2027. This powerhouse is set to become one of the first commercial advanced fission plants in the United States.8 This quarter, Oklo received major DOE approvals for the Aurora Powerhouse, advancing toward project construction. SITE WORK FUEL DEVELOPMENT Oklo's founders at our preferred site in Idaho. (Image: Stand Together)

paragraph:14: 9 New NRC rule promises faster path for subsequent reactors The NRC has proposed a rule11 that would speed up its review process for new reactors. This change would allow the NRC to approve follow-on reactors in just 7 months.12 With quicker approvals, Oklo can scale more rapidly and meet the growing demand for clean energy. Expected ADVANCE Act benefits for Oklo 1 REDUCED FEES Changes fee structures for advanced reactor applicants, potentially reducing Oklo’s hourly licensing costs by over 50%. EXPEDITED TIMELINES The ADVANCE Act directs the NRC to consider novel methods of licensing small reactors with unique safety characteristics, like the Oklo reactor, which could lead to even shorter licensing timelines. 2 CREATES REGULATORY AWARDS Oklo is well-positioned to receive regulatory awards that would make licensing early plants essentially free. 3 Regulatory update and milestones Oklo will begin to submit our combined license application (COLA) to the U.S. Nuclear Regulatory Commission (NRC) during the first half of 2025, and aim to leverage the benefits from the ADVANCE Act, which will begin next year.9 This landmark legislation will lower costs and support Oklo’s go-to- market strategy. Aurora powerhouse licensing steps 600+ technical and planning meetings 57 draft and final technical reports OKLO'S REGULATORY EXPERIENCE SUBSEQUENT COMBINED LICENSE APPLICATIONS COMBINED LICENSE APPLICATION Oklo plans to file subsequent COLAs for additional powerhouses in late 2025 or early 2026.10 In 2025, Oklo plans to submit our first application, which will be a model for future applications. PRE-APPLICATION Oklo has had extensive engagement with the DOE and NRC to prepare our application for review and begin site preparation work. 1 2 3

paragraph:15: 10 Key Q3 financial highlights Oklo's year-to-date cash used in operations sits at $24.9 million, made up of a net loss of $63.3 million, inclusive of an increase of $2.2 million in working capital primarily associated with lower accounts payable, offset by $40.7 million of non-cash impacts. These non-cash impacts included a one-time fair market value adjustment of $7.8 million related to earnout shares payable to Oklo staff who held vested options at the time of the Business Combination, which is also reflected in our year-to-date operating loss of $37.4 million. For the full year 2024 forecast, we remain on target to meet our operating loss estimate of $40-50 million. Year-to-date cash used in operating activities sits at $24.9 million made up of a net loss of $63.3 million offset by non-cash fair market value (FMV) losses of $30 million associated with SAFE notes and $10.8 million associated with stock-based compensation. Both of these non-cash adjustments were required business combination closing entries. Year-to-date loss from operations of $37.4 million included $10.8 million of non-cash stock-based compensation expenses, primarily driven by a one-time, non-cash FMV adjustment of $7.8 million related to earnout shares that would be payable to Oklo staff. Full year 2024 expectations remain in line with prior guidance. At the end of the third quarter, cash and marketable securities were $288.5 million, comprising cash and cash equivalents of $91.8 million and marketable securities of $196.7 million. These balances are primarily driven by $276.0 million in proceeds received at deal closure net-of-fees. Forecasted cash used in operations Forecasted operating loss Cash used in operating activities Loss from operations Cash and Marketable Securities $24.9M $37.4M $288.5M $35–45M $40–50M 9/30 YTD 9/30 YTD 9/30 2024 Outlook 2024 Outlook

paragraph:16: OKLO INC. CONDENSED CONSOLIDATED BALANCE SHEETS As of September 30, 2024 (Unaudited) December 31, 2023 (1) Assets Current assets: Cash and cash equivalents $ 91,799,754 $ 9,867,588 Marketable securities 139,590,389 - Prepaid and other current assets 3,436,207 4,330,465 Total current assets 234,826,350 14,198,053 Marketable securities 57,080,461 - Property and equipment, net 679,870 577,671 Operating lease right-of-use assets 1,092,152 82,677 Other assets 115,000 25,361 Total assets $ 293,793,833 $ 14,883,762 Liabilities and stockholders’ equity (deficit) Current liabilities: Accounts payable $ 361,240 $ 2,273,823 Accrued expenses and other 4,019,173 835,541 Operating lease liabilities 466,624 93,935 Total current liabilities 4,847,037 3,203,299 Operating lease liabilities, net of current portion 670,195 - Simple agreements for future equity - 46,042,000 Right of first refusal liabilities 25,000,000 - Total liabilities 30,517,232 49,245,299 Commitments and contingencies Stockholders’ equity (deficit): Class A common stock, $0.0001 par value – 500,000,000 shares authorized; 122,096,270 and 69,242,940 shares issuewd and outstanding as of Sep- tember 30, 2024 and December 31, 2023, respectively 12,210 6,924 Additional paid-in capital 385,363,981 27,124,983 Accumulated deficit (124,820,677) (61,493,444) Accumulated other comprehensive income 2,721,087 - Total stockholders’ equity (deficit) 263,276,601 (34,361,537) Total liabilities and stockholders’ equity $ 293,793,833 $ 14,883,762 11 (1) Derived from audited financial statements.

paragraph:17: 2024 2023 2024 2023 Operating expenses Research and development $ 5,049,070 $ 1,707,457 $ 19,428,854 $ 5,457,176 General and administrative 7,232,018 2,956,338 17,993,599 5,895,883 Total operating expenses 12,281,088 4,663,795 37,422,453 11,353,059 Loss from operations (12,281,088) (4,663,795) (37,422,453) (11,353,059) Other income (loss) Change in fair value of simple agreements for future equity - (4,083,000) (29,919,959) (6,578,000) Interest and dividend income 2,546,886 78,839 4,403,763 79,301 Total other income (loss) 2,546,886 (4,004,161) (25,516,196) (6,498,699) Loss before income taxes (9,734,202) (8,667,956) (62,938,649) (17,851,758) Income taxes (224,963) - (388,584) - Net loss (9,959,165) (8,667,956) (63,327,233) (17,851,758) Deemed dividend - earnout and founder shares - - (487,934,600) - Net loss attributable to common stockholders $ (9,959,165) $ (8,667,956) $ (551,261,833) $ (17,851,758) Net loss per share: Basic and diluted – Class A common stock $ (0.08) $ (0.13) $ (0.65) $ (0.32) Net loss per share attributable to common stockholders: Basic and diluted – Class A common stock $ (0.08) $ (0.13) $ (5.65) $ (0.32) Weighted average number of common shares outstanding – basic and diluted – Class A common stock 122,134,375 68,450,929 97,581,987 55,502,066 (Unaudited) Nine Months Ended September 30, Three Months Ended September 30, OKLO INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 12

paragraph:18: Nine Months Ended September 30, 2024 2023 Cash flows from operating activities Net loss $ (63,327,233) $ (17,851,758) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 180,420 36,514 Change in fair value of simple agreements for future equity 29,919,959 6,578,000 Accretion of discount on marketable debt securities (261,145) - Stock-based compensation 10,750,780 144,196 Change in operating assets and liabilities: Prepaid and other current assets (833,202) 81,974 Other assets (89,639) 25,909 Accounts payable (1,924,326) 203,972 Accrued expenses and other 630,339 423,118 Operating lease liabilities 33,409 (15,562) Net cash used in operating activities (24,920,638) (10,373,637) Cash flows from investing activities Purchases of property and equipment (282,619) (60,087) Purchase of marketable debt securities (261,081,678) - Proceeds from redemptions of marketable debt securities 67,393,060 - Net cash used in investing activities (193,971,237) (60,087) Cash flows from financing activities Proceeds from recapitalization 276,209,768 - Proceeds from exercise of stock options 439,922 38,675 Proceeds from right of first refusal liability 25,000,000 - Proceeds from simple agreements for future equity 10,232,000 12,315,000 Payment of deferred issuance costs (11,057,649) (1,563,558) Net cash provided by financing activities 300,824,041 10,790,117 Net increase in cash and cash equivalents 81,932,166 356,393 Cash and cash equivalents – beginning of year 9,867,588 9,653,528 Cash and cash equivalents – end of period $ 91,799,754 $ 10,009,921 Supplemental disclosure of cash flow information Cash paid for interest $ - $ - Cash paid for income taxes 356,890 - Supplemental noncash investing and financing activities Reclassification of deferred issuance costs in connection with business combination $ 3,604,235 $ - Reclassification of simple agreements for future equity in connection with business combination 86,193,959 - Deferred issuance costs included in accounts payable - 1,463,614 OKLO INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) 13

paragraph:19: 6 November 13–15, 2024 Miami New Orleans Virtual Scottsdale November 21, 2024 December 2–5, 2024 December 4, 2024 December 4, 2024 December 11, 2024 December 5–6, 2024 Virtual Deer Valley New York January 13–15, 2025 January 14, 2025 Upcoming events Jefferies New Nuclear Conference Cantor Crypto, Digital Assets & AI Infrastructure UBS Global Technology and AI Conference Janney's 2nd Annual Clean Energy Investment Symposium B. Riley Securities' Crypto & Energy Infrastructure Conference Bank of America Clean Energy Symposium Craig-Hallum Virtual Nuclear Conference UBS Global Energy & Utilities Winter Conference Needham 27th Annual Needham Growth Conference 14 New York New York

paragraph:20: This letter includes statements that express Oklo’s opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this letter and include statements regarding our intentions, beliefs or current expectations concerning, among other things, the timing, goals and benefits of nuclear fuel recycling, environmental benefits and goals of Oklo’s projects, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this letter, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo’s future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the deployment of Oklo’s powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating; regulatory uncertainties; the potential need for financing to construct plants; market, financial, political, environmental and legal conditions; the effects of competition; the risk that an agreement with Atomic Alchemy and the potential acquisition thereof do not materialize or fail to produce the expected benefits; changes in applicable laws or regulations; and the outcome of any government and regulatory proceedings and investigations and inquiries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this letter and in any document incorporated by reference are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. FORWARD LOOKING STATEMENTS 15

paragraph:21: 1. U.S. Department of Energy. U.S. Department of Energy Signs Off on Oklo Fuel Fabrication Facility Design Concept. Published October 15, 2024. Accessed October 31, 2024. https:// www.energy.gov/ne/articles/us-department-energy-signs-oklo-fuel-fabrication-facility- design-concept 2. Goldman Sachs. AI, data centers and the coming US power demand surge. Published April 28, 2024. Accessed October 31, 2024. https://www.goldmansachs.com/pdfs/insights/ pages/generational-growth-ai-data-centers-and-the-coming-us-power-surge/report.pdf 3. PR Newswire. 14 Major Global Banks and Financial Institutions Express Their Support for Effort to Triple Nuclear Energy by 2050. Published September 23, 2024. Accessed October 31, 2024. https://www.prnewswire.com/news-releases/14-major-global-banks- and-financial-institutions-express-their-support-for-effort-to-triple-nuclear-energy- by-2050-302255609.html 4. U.S. Department of Energy. Biden-Harris Administration Announces 6 Contracts to Spur America’s Domestic HALEU Supply Chain as Part of Investing in America Agenda. Published October 8, 2024. Accessed October 31, 2024. https://www.energy.gov/ne/articles/biden- harris-administration-announces-6-contracts-spur-americas-domestic-haleu-supply 5. U.S. Congress. S.5157 - Advancing Research in Nuclear Fuel Recycling Act of 2024. 118th Congress. Accessed October 31, 2024. https://www.congress.gov/bill/118th-congress/ senate-bill/5157 6. British Institute of Radiology. Important reports on supply of Medical Radioisotopes. Accessed November 12, 2024. https://www.bir.org.uk/media-centre/news/2013/april/ important-reports-on-supply-of-medical-radioisotopes.aspx#:~:text=Over%20the%20 last%20few%20years,You%20can%20view%20them%20here 7. World Nuclear News. China eyes expansion of radioisotope industry. Published November 6, 2024. Accessed November 12, 2024. https://www.world-nuclear-news.org/articles/china- eyes-expansion-of-radioisotope-industry 8. U.S. Department of Energy. U.S. Department of Energy Signs Off on Oklo Fuel Fabrication Facility Design Concept. Published October 15, 2024. Accessed October 31, 2024. https:// www.energy.gov/ne/articles/us-department-energy-signs-oklo-fuel-fabrication-facility- design-concept 9. U.S. Congress. S.1111 - ADVANCE Act of 2023. 118th Congress. Accessed October 31, 2024. https://www.congress.gov/bill/118th-congress/senate-bill/1111 10. U.S. Nuclear Regulatory Commission. Combined License Applications for New Reactors. Accessed October 31, 2024. https://www.nrc.gov/reactors/new-reactors/large-lwr/col.html 11. Utility Dive. NRC updates streamlined environmental review proposal for new nuclear reactors. Published October 9, 2024. Accessed October 30, 2024. https://www.utilitydive. com/news/nrc-streamlined-environmental-review-new-nuclear-reactors/729355/ 12. U.S. Nuclear Regulatory Commission. Preliminary White Paper – Nth-of-a-Kind Micro- Reactor Licensing and Deployment Considerations. Published September 2024. Accessed October 30, 2024. https://www.nrc.gov/docs/ML2426/ML24268A310.pdf#:~:text=The%20 micro-reactors%20considered%20in%20this%20paper CITATIONS 16

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paragraph:6: Q2 2024 Shareholder Letter Oklo is a fast fission clean power technology and nuclear fuel recycling company developing power plants to provide clean, reliable, and affordable energy at scale. We have secured over $300 million in gross proceeds and are well capitalized to execute our business plan. Oklo’s first Aurora powerhouse is expected to be operational by 2027. Our customer base is strong with 1,350 megawatts in signed letters of intent across diverse industries. We offer flexible, clean energy solutions that scale with customers’ needs. 2 Dear shareholders, Oklo has been a lifetime in the making. Growing up in New Mexico, my visits to the National Museum of Nuclear Science & History sparked a fascination with the incredible potential of nuclear energy. The idea of splitting an atom to produce 50 million times more energy than combusting a hydrocarbon felt like science fiction at the time, but it became my life’s pursuit. While studying nuclear engineering at MIT and working across sectors, I saw the nuclear industry stagnating under outdated paradigms. I believed there was potential to fundamentally reimagine how we built and sold nuclear power. We could rethink the technology, business model, financing, partnerships, and more. I met my co-founder Caroline Cochran, also a nuclear engineer from MIT, and together we set out to rethink nuclear power from the ground up. Now, more than a decade later, we are on the precipice of realizing our mission to deliver reliable, low-cost, clean energy at scale. Our merger with AltC Acquisition Corp. in May financed our business, providing Oklo with over $300 million to accelerate our strategy. Oklo will fund the first Aurora powerhouses and aims to have multiple powerhouses up and running within the next few years, starting in 2027 with our first plant in Idaho. The prospect of purchasing independent power under long-term contracts is attractive to businesses across industries. Demand is strong; we have signed over 1,350 megawatts under non-binding indications of interest from the data center, energy, and industrial sectors, showcasing the broad applicability of our technology. The Aurora technology is well demonstrated—and once it’s deployed, it will be revolutionary. Thank you for joining us on our mission to a sustainable and abundant energy future. Sincerely, Jacob DeWitte Founder & CEO, Oklo Our mission is to provide clean, reliable, and affordable energy on a global scale. The Oklo team in front of the New York Stock Exchange. Oklo co-founders Caroline Cochran and Jacob DeWitte pictured at the New York Stock Exchange. 3 Our technology is based on proven fast reactor technology that has been used for more than a combined 400 years¹ by nuclear plants around the world. Selling power, not power plants, directly to customers under long-term contracts offers what customers want and generates recurring revenue. By owning construction and operations, we aim to fast-track deployment and streamline future applications with repeatable combined license applications to the U.S. Nuclear Regulatory Commission (NRC). Our design focuses on the use of commercially available supply chain combined with factory fabrication capabilities in order to deploy and scale rapidly and cost-effectively. Foundational pillars Proven technology Modern, small-scale design Build-Own-Operate business model Oklo is well capitalized to execute our business strategy and is positioned to be the first advanced fission company to generate revenue from selling clean power. As the only advanced fission company with a site use permit, significant regulatory traction, and a secured fuel supply, we expect to build our first plant by 2027. 4 MICHAEL KLEIN Founder & Managing Partner of M. Klein & Company, Founder of Churchill Capital Oklo has a world-class board of directors with backgrounds in energy, defense, oil and gas, utilities, capital markets, and artificial intelligence. “As one of the initial investors in the company, I’ve seen first-hand how Oklo has proven itself to be an innovative energy leader, developing a cost-competitive go-to-market strategy, and solidifying important relationships with regulators, customers, and suppliers. There are huge growth opportunities ahead.” SAM ALTMAN Chairman & Board Member of Oklo | Founder & CEO of OpenAI CHRIS WRIGHT Founder & CEO of Liberty Energy, Inc. (NYSE: LBRT) LT. GEN (RET.) JOHN JANSEN United States Marine Corps RICHARD W. KINZLEY Former CFO of Black Hills Corporation (NYSE: BKH) CAROLINE COCHRAN Co-founder & COO of Oklo JACOB DEWITTE Co-founder & CEO of Oklo 5 Key milestones achieved in H1 2024 August Established preferred supplier agreement with Siemens Energy for steam turbine generator products and services. July Completed successful end-to-end demonstration of advanced fuel recycling process, advancing commercial-scale recycling facility. April Signed non-binding letter of intent to supply 50 megawatts to Diamondback Energy, a Texas-based independent oil and natural gas company, over a 20-year power purchase agreement. March In partnership with Argonne National Laboratory, Oklo successfully completed the second phase of the high-fidelity testing campaign at the Thermal Hydraulic Experimental Test Article (THETA). February Entered into a land rights agreement with the non-profit Southern Ohio Diversification Initiative to advance the deployment of two powerhouses in Southern Ohio. May Began trading on the New York Stock Exchange under the new ticker symbol “OKLO.” Signed non-binding memorandum of understanding with Atomic Alchemy to collaborate on isotope production. Partnered with computer networking company Wyoming Hyperscale to deliver 100 megawatts to its data centers over a 20-year power purchase agreement. 6 January Safety Design Strategy approved by U.S. Department of Energy (DOE) for the Oklo Aurora Fuel Fabrication Facility. • Awarded recovered fuel material from INL • Granted site use permit from the DOE for our site in Idaho Idaho National Laboratory (INL) The first Aurora powerhouse will: This will be the first commercial advanced fission power plant in the United States. By integrating a novel business model, cutting-edge technology, and a small, scalable design, Oklo is unlocking the future of clean energy. Key first deployment milestones The first Aurora powerhouse 2027 Planned Deployment Lead with a streamlined regulatory process, paving the way for future deployments Deliver clean energy directly to customers through secured power purchase agreements Generate robust and steady revenue streams Oklo is the only advanced fission company with a site use permit, significant regulatory traction, and a secured fuel supply, positioning us to turn on our first commercial reactor in the near term. 2019 2020 2024 • Had the first-ever custom combined license application for an advanced fission power plant accepted for review by the NRC • Oklo’s Safety Design Strategy for the Aurora Fuel Fabrication Facility approved by DOE • Signed preferred supplier agreement with Siemens, strengthening supply chain • Plans to begin pre-application readiness review for combined license application by end of year 7 Idaho Falls, ID Identify preferred sites and develop cost estimates. INITIAL PROJECT SCOPING Oklo makes it easy to purchase clean, reliable, affordable energy. How Oklo works with customers Oklo will generate revenue from selling electricity and heat directly to clients through long-term (20-40 year) power purchase agreements (PPAs). Unlike traditional nuclear developers, Oklo will build, own, and operate our own powerhouses, reducing risks for customers and ensuring significant recurring revenue. 8 Perform initial assessment of land availability and power needs. SITE EVALUATION 3 1 4 2 6 Conduct detailed engineering work to determine optimal placement. ENGINEERING ANALYSIS Sign a formal PPA, finalize project details, and Oklo submits a combined license application to the NRC. POWER PURCHASE AGREEMENT Power purchase LOIs are non-binding agreements but contain details on pricing, duration, and quantity of power needed, as well as a timeline for key milestones. LETTERS OF INTEREST (LOI) TO PURCHASE POWER An MOU sets out a framework for partnership related to scoping projects and other collaborations. OPTIONAL STEP: SIGN MEMORANDUM OF UNDERSTANDING (MOU) TO ESTABLISH PARTNERSHIP 1,350 MWe in signed letters of intent across diverse industries throughout the U.S. States of publicly announced customer agreements and the Defense Logistics Agency Energy chose Oklo to site a micro-reactor at Eielson Air Force Base* *Oklo has been honored with the Notice of Intent to Award twice. The recent procedural rescission by Defense Logistics Agency Energy, to ensure thorough documentation of due diligence during source selection, is not uncommon in large government procurement processes. This decision underscores the meticulousness of the process and does not impact our confidence in the planned contract. Memorandum of understanding to purchase electricity from planned Aurora powerhouses in Ohio Non-binding LOI to supply 100 megawatts over 20-year power purchase agreement Pre-agreement to procure up to 500 megawatts with a $25M pre-payment Non-binding LOI to supply 50 megawatts over 20-year power purchase agreement 9 Equinix United States Air Force Select announced customer engagements ALLEVIATING TRANSMISSION CONSTRAINTS Existing transmission infrastructure is nearing capacity, and Oklo’s localized power solution reduces the need for costly transmission expansions. Demand drivers Permian Basin & Diamondback Energy Data Centers & Wyoming Hyperscale Non-binding LOI to enter a 20-year power purchase agreement. Oklo intends to supply 50 megawatts of energy to Diamondback Energy’s operations in the Permian Basin. Non-binding LOI to enter a 20-year power purchase agreement. Oklo intends to supply 100 megawatts of power to Wyoming Hyperscale’s data center campus. 10 MEETING RISING POWER DEMAND RAPID POWER DEPLOYMENT DELIVERED ONSITE DISTRIBUTED POWER GENERATION SUPPORTING EMISSION REDUCTION GOALS The region’s power demand is projected to grow sevenfold from 2022 to 2038,2 and Oklo offers a scalable solution. Oklo powerhouses can deliver timely power to support high-demand operations and scale to meet growing capacity needs. Reduces transmission and distribution costs for facilities like data centers by deploying reactors onsite. Smaller, distributed reactors enhance reliability and scalability, fitting well with data center campus structures. Oklo’s emission-free power aligns with industry and regulatory goals to reduce greenhouse gas emissions. “Our goal is to create data centers with minimal environmental impact. This collaboration with Oklo perfectly aligns with our vision for sustainable, efficient operations. By merging sustainability with advanced technology, we are setting a new standard for the future of accelerated computing.” TRENTON THORNOCK Founder and Managing Member of Wyoming Hyperscale Since announcing our merger with AltC Acquisition Corp., Oklo has experienced significant customer growth. At our business combination announcement in July 2023, we had a robust pipeline of customer opportunities. Since then, this pipeline has grown significantly, driven by strong market demand. Post-merger and public listing, we’ve seen even greater inbound interest across multiple sectors, further accelerating our growth. Data Centers Oklo is in active discussion with companies across the following sectors: Oil & Gas Industrial & Manufacturing Defense Real Estate Oklo customer pipeline in megawatts signed under non-binding agreements since the business combination announcement in July 2023 93% increase 11 TARGET MARKETS ~700 MW ~1,350 MW At Business Combination Announcement – July 2023 0 200 400 600 800 1,000 1,200 1,400 1,600 Current – August 2024 Strategically cost-competitive and highly repeatable REACTION TYPE Fast fission POWER OUTPUT LICENSE 40+ years OPERATING PRESSURE Atmospheric FUEL Fresh or recycled high-assay low-enriched uranium OPERATING TEMPERATURE 450°C+ 12 15 MW, 50 MW, and 100+ MW* REACTOR SIZES Liquid metal sodium COOLANT Inherent, physics-safe SAFETY SYSTEMS Many of our customers complete their projects in phases. Building multiple small reactors at project sites versus single, large reactors will help ensure we scale to meet their phased expansion plans from megawatt to gigawatt scale. Powerhouse benefits Environmental benefits Small, simple design Inherently safe Low cost Offsite fabrication Proven technology < 18 months installation 24/7 low-carbon power GREENHOUSE GAS EMISSIONS MATERIALS USE LAND USE Nuclear power has the lowest lifecycle GHG emissions profile of any energy technology, including solar and onshore wind.3 Nuclear power has the lowest materials intensity of any energy technology today.4 Nuclear power uses the least amount of land of any energy technology. Reactor design features *100 MW powerhouse in early-stage design EBR-II was one of the most important fast reactors in the world. Located at Idaho National Laboratory, it was designed and operated by Argonne National Laboratory from 1964 to 1994 as part of a broader effort to develop advanced nuclear technologies.5 Oklo’s reactor technology builds on the legacy of the Experimental Breeder Reactor-II (EBR-II), a fast fission reactor operated by the U.S. government for 30 years. What was EBR-II? What EBR-II demonstrated INHERENT SAFETY LIQUID SODIUM COOLANT NON-PRESSURIZED SYSTEM FUEL RECYCLING POTENTIAL FOR COMMERCIALIZATION The ability to shut down without any operator intervention The use of liquid metal instead of water as a coolant, allowing efficient heat transfer Operation at atmospheric pressure, reducing the risk of a pressure-related accident The ability to recycle spent fuel, recovering valuable fissile materials and minimizing nuclear waste The ability to produce and sell power to the grid affordably Oklo’s reactor technology has been built and demonstrated before. Liquid-metal-cooled fast reactors have the longest demonstrated history of advanced fission technologies and have been operated for more than 400 reactor years worldwide. 13 Left: Oklo co-founders Caroline Cochran and Jacob DeWitte pictured touring EBR-II with one of its original operators. To learn more about the history of fast reactor technology, read Plentiful Energy by Charles E. Till and Yoon Il Chang.6 14 Leveraging established supply chains to reduce costs and enhance scaleability Oklo signed an industry-first preferred supplier agreement with Siemens Energy to supply the power production side of the powerhouse. While the reactor makes heat, the generator technology by Siemens converts that heat into useful forms of energy for our customers. In other words, a significant portion of our supply chain can be supplied by a trusted energy leader like Siemens instead of using many bespoke components. This arrangement aims to guarantee a robust supply chain for non-reactor components key to delivering power and heat, critical for Oklo to deploy at scale. It standardizes equipment, which saves costs, reduces maintenance downtime, and enhances reliability. By leveraging these existing supply chains, we aim to achieve: Reliability and scalability Cost effectiveness Proven quality and safety Conventional Power, Industrial, and Chemical Supply Chains Conventional Nuclear Supply Chain 70% 30% Alex Renner, Chief Product Officer, and Scott Auerbach, Director of Power Engineering, engage in a discussion of the industrial steam turbine package with the Siemens Energy team. *The percentages indicated represent the number of components sourced, not the dollar value. Based on internal estimates, approximately 70% of components are sourced from traditional and established supply chains, while approximately 30% are sourced from the traditional nuclear supply chain. * Aurora powerhouses are designed to maximize the use of materials, parts, and labor from established, non-nuclear supply chains. Estimated percentage of components purchased from non-nuclear and nuclear supply chains Centrus Energy partnership 15 Oklo is the only advanced fission company with both a site permit and fuel supply secured. Infrastructure to produce commercial-scale advanced nuclear fuels, such as high-assay low-enriched uranium (HALEU), is underdeveloped in the United States. Oklo’s partnerships will provide a reliable source of fuel for the Aurora powerhouses. Oklo’s Aurora Fuel Fabrication Facility in Idaho is where Oklo will fabricate recovered nuclear material from the EBR-II reactor into fuel assemblies for its first commercial reactor. Oklo was awarded this fuel through a competitive process in 2019. Oklo partnered with Centrus Energy, a nuclear fuel supplier, to purchase HALEU from the first new U.S.-owned fuel production facility to open in decades.7 Centrus also intends to purchase energy from Oklo to power its HALEU production facility. Aurora Fuel Fabrication Facility "As Centrus works to pioneer HALEU production and Oklo works to bring HALEU-fueled reactors to market, we see enormous potential in our strategic alliance. We look forward to a future in which Oklo supplies carbon-free electricity to Centrus, and Centrus provides HALEU and manufacturing services to Oklo. This kind of synergy between first movers can catalyze success for both companies." AMIR VEXLER President & CEO of Centrus Oklo and Centrus’ partnership will support the deployment of Oklo’s advanced fission powerhouses and Centrus’ HALEU production capabilities in southern Ohio, making the region a critical hub for the future of the U.S. nuclear industry. 16 Uniquely positioned in nuclear fuel recycling Fuel recycling capabilities could: Oklo achieves end-to-end demonstration of advanced fuel recycling process In May, Oklo signed an agreement with Atomic Alchemy to produce radioisotopes for commercial use through Oklo’s nuclear fuel recycling process, generating additional revenue sources for the company. Radioisotopes are in short supply and are critical for various applications across sectors, including cancer treatment, diagnostic imaging, and clean energy technologies. In July, Oklo completed the first successful end-to-end demonstration of the key stages of its advanced fuel recycling process, in collaboration with Argonne National Laboratory and Idaho National Laboratory. This effort was supported by a $5 million cost-share award from DOE, which aims to facilitate the deployment of a commercial-scale advanced fuel recycling facility. ATOMIC ALCHEMY PARTNERSHIP Boost independent, domestic fuel supply for Aurora powerhouses Repurpose fuel waste stockpiles across the country Significantly reduce fuel costs Provide additional revenue stream anticipated by the early 2030s Engineers in Argonne’s Chemical and Fuel Cycle Technologies division (Image: Argonne National Labratory) The fuel allocated for Oklo's first powerhouse is recycled nuclear waste material. Oklo is collaborating with the DOE on commercialization of recycling through four DOE cost-share awards totaling more than $17 million.es. Approval timelines for follow-on applications shrink from up to 72 months for subsequent part 50 applications to as low as 6-18 months Typical Part 50 License Timeline Typical Part 52 Design Certification + Combined License Timeline Oklo Licensing Timeline Key benefits of Oklo’s strategy Streamlined custom combined license application combines design, construction, and operations licenses into a single step For each subsequent application, the regulator only needs to review new content. Because of this and based on current estimates and recent U.S. legislation, we expect subsequent licenses will have further reduced timelines to 6-18 months 24–36 months 72–120 months 24–36 months 6–18 months* Subsequent 48–72 months 48–72 months 24–36 months 24–36 months 24–36 months 24–36 months CONSTRUCTION PERMIT DESIGN CERTIFICATION CUSTOM COMBINED LICENSE CUSTOM COMBINED LICENSE INITIAL APPLICATION INITIAL APPLICATION REFERENCE APPLICATION SUBSEQUENT APPLICATION SUBSEQUENT APPLICATIONS CONSTRUCTION PERMIT OPERATING LICENSE OPERATING LICENSE COMBINED LICENSE 17 Oklo’s repeatable combined licensing strategy is expected to reduce licensing timelines by 50%.8 *There can be limitations that impact the exact timeline reduction. Oklo will build, own, and operate our powerhouses. This makes it easy for customers to simply buy power. 96-156 months* *subsequent applications can use a combined license. Oklo's licensing timeline for initial application is anticipated to reduce timelines by 50%-85% Oklo began engagement with the NRC in 2016, and in 2020 became the first advanced fission company to submit a combined license application to the NRC, applying as the builder, owner, and operator of the powerhouse. After incorporating NRC feedback, we plan to submit a new, pre-application readiness assessment for review this year. This will allow us to address outstanding questions to our application before submitting a new combined license application in 2025. Oklo has the longest continuous formal regulatory engagement of any advanced (non-water-cooled) reactor company.9 Nuclear regulatory experience 55 draft and final technical reports* 500+ technical and planning meetings 2016–2024 18 *Oklo engages with NRC staff and management for technical and licensing purposes, as well as alignment on schedule and resources. Schedule and resource meetings occur at all levels with NRC staff and management to exchange information not directly related to a regulatory action or decision, and therefore are not documented as public meetings. 2023 2019 2024 2016 2020 2016–Current 2021 • Submitted first-ever combined license application for an advanced fission power plant • Quality Assurance Program Document approved • Began pre-application process with the NRC • Ongoing pre-application process for Aurora powerhouses • Began pre-application for fuel recycling • Began pre-application process for fuel fabrication • Safeguards Information Protection and Handling Plan approved • Awarded recovered fuel material from INL • Granted site use permit from DOE for our site in Idaho • Safety Design Strategy for the Aurora Fuel Fabrication Facility approved by DOE Recent policy momentum and bipartisan support The ADVANCE Act Policy momentum for nuclear energy has surged alongside the need for clean, affordable energy, driven by robust bipartisan support and significant legislative advancements. This landmark legislation provides a major boost to the future of nuclear energy in the United States.10 It saw widespread bipartisan support, passing the House by a vote of 393- 13 and the Senate 88-2, before being signed into law in July 2024. Changes fee structures for advanced reactor and pre-application applicants, potentially reducing Oklo’s hourly licensing costs by over 50%. Expedites timelines for review of subsequent applications for powerhouses on same or adjacent sites down from 36 months to 18 months or less. Oklo is uniquely positioned to win any one of several awards to make licensing early plants effectively free. Expected core benefits for Oklo REDUCES FEES SHORTENS TIMELINES CREATES REGULATORY AWARDS Allocated $700 million to advanced nuclear fuel, $250 billion in DOE loan authority, and tax credits that cover up to 50% of eligible project costs.11 Enhanced government authority to make HALEU available and to foster the buildout of a commercial HALEU supply chain.12 Provided $2.7 billion to support the nuclear fuel supply chain, $10 million for fast reactor R&D, and $10 million for a new recycling cost share program.13 Inflation Reduction Act FY24 Appropriations Nuclear Fuel Security Act 2022 2024 2023 19 The NRC will revise its mission statement within 1 year of enactment to include that “licensing and regulation of the civilian use of radioactive materials and nuclear energy be conducted in a manner that is efficient and does not unnecessarily limit—(1) the civilian use of radioactive materials and deployment of nuclear energy; or (2) the benefits of civilian use of radioactive materials and nuclear energy technology to society.” A CRITICAL MISSION UPDATE The ADVANCE Act directs the NRC to consider novel methods of licensing small reactors with unique safety characteristics, like the Oklo reactor, which could lead to even shorter licensing timelines. SMALL REACTORS 21 Key Q2 financial highlights For the second quarter of 2024, Oklo’s financial statements reflect a combination of ongoing business activities that continue to scale up, as well as several one-time accounting impacts to record the merger with AltC. Approximately $37.8 million of these deal-related impacts are associated with non-cash fair market value adjustments and are represented in our $53.3 million net loss for the 6-month period. For the full year 2024 forecast, we believe we remain on target to meet our operating loss estimate of $40-50 million. Year-to-date cash used in operating activities sits at $17.0 million made up of a net loss of $53.3 million offset by $38.9 million in non-cash impacts further highlighted below. At the end of the second quarter, cash and marketable securities were $294.6 million, primarily driven by $276.0 million in proceeds received at deal closure net-of-fees. Year-to-date loss from operations of $25.1 million included $9.2 million of non-cash stock-based compensation expenses, primarily driven by a one-time, non-cash fair market value (FMV) adjustment of $7.8 million related to earn-out shares that would be payable to Oklo staff. Full year 2024 expectations are still in line with prior guidance. Year-to-date net loss of $53.3 million included non-cash FMV losses of $30 million associated with SAFE notes and $7.8 million losses in stock-based compensation. Both of these non-cash adjustments were required business combination closing entries. Forecasted cash used in operations Forecasted operating loss Cash used in operating activities Loss from operations Net loss $17.0M $25.1M $53.3M $35–45M $40–50M 6/30 YTD 6/30 YTD 6/30 YTD 2024 Outlook 2024 Outlook 22 OKLO INC. CONDENSED CONSOLIDATED BALANCE SHEETS As of June 30, 2024 (Unaudited) December 31, 2023 Assets Current assets: Cash and cash equivalents $ 105,676,772 $ 9,867,588 Marketable securities 129,607,093 - Prepaid and other current assets 3,938,888 4,330,465 Total current assets 239,222,753 14,198,053 Marketable securities 59,287,344 - Property and equipment, net 637,731 577,671 Operating lease right-of-use assets 37,785 82,677 Other assets - 25,361 Total assets $ 299,185,613 $ 14,883,762 Liabilities and stockholders’ equity (deficit) Current liabilities: Accounts payable $ 1,068,205 $ 2,273,823 Accrued expenses and other 3,773,290 835,541 Operating lease liability 37,785 93,935 Total current liabilities 4,879,280 3,203,299 Simple agreements for future equity - 46,042,000 Right of first refusal liability 25,000,000 - Total liabilities 29,879,280 49,245,299 Commitments and contingencies Stockholders’ equity (deficit): Class A common stock, $0.0001 par value – 500,000,000 shares authorized; 122,096,270 and 69,242,940 shares is-sued and outstanding as of June 30, 2024 and December 31, 2023, respectively 12,210 6,924 Additional paid-in capital 383,737,617 27,124,983 Accumulated deficit (114,861,513) (61,493,444) Accumulated other comprehensive income 418,019 - Total stockholders’ equity (deficit) 269,306,333 (34,361,537) Total liabilities and stockholders’ equity $ 299,185,613 $ 14,883,762 2024 2023 2024 2023 Operating expenses Research and development $ 10,719,142 $ 1,833,269 $ 14,379,784 $ 3,749,719 General and administrative 7,051,836 1,519,697 10,761,582 2,939,545 Total operating expenses 17,770,978 3,352,966 25,141,366 6,689,264 Loss from operations (17,770,978) (3,352,966) (25,141,366) (6,689,264) Other income (loss) Change in fair value of simple agreements for future equity (13,126,959) (1,122,000) (29,919,959) (2,495,000) Interest and dividend income 1,715,574 137 1,856,877 462 Total other loss (11,411,385) (1,121,863) (28,063,082) (2,494,538) Loss before income taxes (29,182,363) (4,474,829) (53,204,448) (9,183,802) Income taxes (163,621) - (163,621) - Net loss (29,345,984) (4,474,829) (53,368,069) (9,183,802) Deemed dividend - earnout and founder shares (487,934,600) - (487,934,600) - Net loss attributable to common stockholders $ (517,280,584) $ (4,474,829) $ (541,302,669) $ (9,183,802) Net loss per share: Basic and diluted – Class A common stock $ (0.29) $ (0.06) $ (0.63) $ (0.13) Net loss per share attributable to common stockholders: Basic and diluted – Class A common stock $ (5.17) $ (0.06) $ (6.36) $ (0.13) Weighted average number of common shares outstanding – basic and diluted – Class A common stock 100,021,539 68,845,564 85,170,891 68,845,564 23 (Unaudited) Six Months Ended June 30, Three Months Ended June 30, OKLO INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 24 Six Months Ended June 30, 2024 2023 Cash flows from operating activities Net loss $ (53,368,069) $ (9,183,802) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 111,673 23,402 Change in fair value of simple agreements for future equity 29,919,959 2,495,000 Accretion of discount on marketable securities (285,254) - Stock-based compensation 9,124,416 96,793 Change in operating assets and liabilities: Prepaid and other current assets (1,441,188) (269,939) Other assets 25,361 25,909 Accounts payable (1,592,955) (10,378) Accrued expenses and other 477,166 12,791 Operating lease liability (11,258) (9,983) Net cash used in operating activities (17,040,149) (6,820,207) Cash flows from investing activities Purchases of property and equipment (171,733) (25,401) Purchase of marketable securities (202,191,164) - Proceeds from redemptions of marketable securities 14,000,000 - Net cash used in investing activities (188,362,897) (25,401) Cash flows from financing activities Proceeds from recapitalization 276,209,768 - Proceeds from exercise of stock options 439,922 - Proceeds from right of first refusal liability 25,000,000 - Proceeds from simple agreements for future equity 10,232,000 2,315,000 Payment of deferred issuance costs (10,669,460) (28,130) Net cash provided by financing activities 301,212,230 2,286,870 Net increase (decrease) in cash and cash equivalents 95,809,184 (4,558,738) Cash and cash equivalents – beginning of year 9,867,588 9,653,528 Cash and cash equivalents – end of period $ 105,676,772 $ 5,094,790 Supplemental disclosure of cash flow information Cash paid for interest $ - $ - Cash paid for income taxes - - Supplemental noncash investing and financing activities Reclassification of deferred issuance costs in connection with business combination $ 3,992,424 $ - Reclassification of simple agreements for future equity in connection with business combination 86,193,959 - Deferred issuance costs included in accounts payable 375,594 1,310,403 Deferred issuance costs included in accrued expense and other 92,710 - OKLO INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) August 13, 2024 Virtual Virtual Boston Las Vegas August 13–14, 2024 August 13–14, 2024 August 19, 2024 August 19–20, 2024 August 19–20, 2024 September 10, 2024 Denver Virtual Virtual Virtual September 23–27, 2024 New York City October 8, 2024 Upcoming events Canaccord Genuity 44th Annual Growth Conference Second Quarter 2024 Earnings Conference Call Citi’s 2024 One-on-One Midstream & New Energy Infrastructure Conference “Ask Me Anything” with Oklo’s CEO, COO, and CFO EnerCom Energy Investment Conference Needham & Co. Industrial Tech, Robotics & Clean Tech 1x1 Conference Jefferies Solutions Series Webinar Climate Week TD Securities 9th Annual Nuclear Fuel Cycle & Next Generation Nuclear Roundtable 20 25 This letter includes statements that express Oklo’s opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this letter and include statements regarding our intentions, beliefs or current expectations concerning, among other things, the timing, goals and benefits of nuclear fuel recycling, environmental benefits and goals of Oklo’s projects, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this letter, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo’s future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the deployment of Oklo’s powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; the potential need for financing to construct plants; market, financial, political, environmental and legal conditions; the effects of competition; changes in applicable laws or regulations; the outcome of any government and regulatory proceedings and investigations and inquiries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this letter and in any document incorporated by reference are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. FORWARD LOOKING STATEMENTS 26 1. International Atomic Energy Agency. Fast reactors. Accessed August 5, 2024. https://www. iaea.org/topics/fast-reactors 2. S&P Global Commodity Insights. Texas grid stakeholders mull plans for massive power demand in Permian Basin. Published June 11, 2023. Accessed August 5, 2024. https://www. spglobal.com/commodityinsights/en/market-insights/latest-news/electric-power/061124- texas-grid-stakeholders-mull-plans-for-massive-power-demand-in-permian-basin 3. World Nuclear Association. How can nuclear combat climate change? Accessed August 5, 2024. https://world-nuclear.org/nuclear-essentials/how-can-nuclear-combat-climate-change 4. U.S. Department of Energy. Pathways to Commercial Liftoff: Advanced Nuclear. Published March 20, 2023. Accessed August 5, 2024. https://liftoff.energy.gov/wp-content/ uploads/2023/03/20230320-Liftoff-Advanced-Nuclear-vPUB.pdf 5. Argonne National Laboratory. EBR-II: An integrated experimental fast reactor nuclear power station. Published 2004. Accessed August 5, 2024. https://www.ne.anl.gov/About/reactors/ EBR2-NN-2004-2-2.pdf 6. Patterson RJ, Pizzo JJ. Plentiful Energy: The Story of the Integral Fast Reactor. Accessed August 5, 2024. https://www.thesciencecouncil.com/pdfs/PlentifulEnergy.pdf 7. Centrus Energy Corp. Centrus begins enrichment operations in Ohio. Published June 19, 2023. Accessed August 5, 2024. https://www.centrusenergy.com/news/centrus-begins-enrichment-operations-in-ohio/ 8. U.S. Nuclear Regulatory Commission. Generic schedules. Accessed August 5, 2024. https:// www.nrc.gov/about-nrc/generic-schedules.html 9. U.S. Nuclear Regulatory Commission. Pre-application activities for advanced reactors. Accessed August 5, 2024. https://www.nrc.gov/reactors/new-reactors/advanced/who-were-working-with/pre-application-activities.html 10. U.S. Department of Energy. Newly signed bill will boost nuclear reactor deployment in the United States. Published August 2, 2023. Accessed August 5, 2024. https://www.energy. gov/ne/articles/newly-signed-bill-will-boost-nuclear-reactor-deployment-united-states 11. U.S. Department of Energy. Inflation Reduction Act keeps momentum building for nuclear power. Published August 4, 2023. Accessed August 5, 2024. https://www.energy.gov/ne/ articles/inflation-reduction-act-keeps-momentum-building-nuclear-power 12. U.S. Congress. S.452 - Nuclear Energy Leadership Act of 2023. 118th Congress. Accessed August 5, 2024. https://www.congress.gov/bill/118th-congress/senate-bill/452 13. U.S. Department of Energy. FY2024 spending bill fuels historic push for U.S. advanced reactors. Published August 2, 2023. Accessed August 5, 2024. https://www.energy.gov/ne/ articles/fy2024-spending-bill-fuels-historic-push-us-advanced-reactors CITATIONS