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