Based on my limited experience so far of using the Ultra, I would say the new Snapdragon Gen 2 chip is significantly helping towards the battery efficiency; this is resulting in serious battery life gains. The 5000 mAh battery I've found it to be really stella and this is using it high intensity, 1440p screen with 120mhz straight from turning it on. I get over a full day's use on all apps. Really impressed.
If your using the screen at 120Hz refresh rate at 1080p, easily expect a solid 2 day use out of it no matter how intense your usage is - it's that good.
I am actually surprised by how improved the Ultra battery performance has been so far. Battery life usually disappoints me! Reviewers and even Samsung in advertising need to give this more attention.
Compared to the Fold4, I have to say the Ultra is probably twice as good; at least the battery efficiency is twice as good.
As others have mentioned battery life is a non-issue - it's something not to worry or think about with the Ultra.
Did you by any chance have s22 ultra Snapdragon version prior to 23 ultra? That's what I have and was curious if 23 ultra is significantly better in battery life area.