TOT COMPOSITES。 Q4 2021 Earnings Call February 24, 2022 Legal Disclaimer This presentation contains forward-looking statements within the meaning of the federal securities law. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. In many cases, you can identify forward-lookin ...

Financial Data and Key Metrics Changes - For the full year 2021, the company reported net sales of $1.7 billion, a 3.7% increase from 2020, and adjusted EBITDA of $2.3 million, despite adverse impacts of approximately $52 million and $40 million in revenue due to contract extensions and cost estimates under ASC 606 [7][36][38] - In Q4 2021, net sales were $389.5 million, with wind blade sales at $362.3 million, primarily affected by production declines and raw material shortages [31][33] - The net loss attributable to common stockholders for the year was $165.3 million, compared to $19.0 million in 2020, driven by raw material inflation and other operational challenges [35] Business Line Data and Key Metrics Changes - Wind blade sales for the full year totaled $1.61 billion, driven by increased average sales prices, although production volumes decreased [34] - The transportation segment saw significant growth, with the company winning its first major program commitment for an electric vehicle platform [13][90] - The global service organization expanded to nearly 400 technicians, achieving over two times revenue growth compared to 2020 [11] Market Data and Key Metrics Changes - The company experienced challenges in the U.S. market due to stalled legislative initiatives and supply chain constraints, which decreased demand for wind blades in 2021 compared to 2020 [25][26] - The European market remains significant, with approximately 30% of blades built being shipped there, although permitting and citing challenges persist [99] Company Strategy and Development Direction - The company aims to capitalize on long-term growth in the wind market by expanding global service offerings and enhancing logistics and recycling capabilities [28] - Focus remains on localizing and regionalizing the supply chain to mitigate high logistics costs and ensure supply security [24] - The company is positioned to grow market share with leading OEMs as demand for wind energy is expected to strengthen [26] Management's Comments on Operating Environment and Future Outlook - Management highlighted ongoing market volatility and uncertainty, particularly in the U.S., affecting sales expectations for 2022 [45] - The company anticipates continued margin compression due to rising costs and competitive pressures, despite efforts to stabilize material costs [47] - Future growth is expected in the transportation segment, with a projected increase in service business revenue [90] Other Important Information - The company closed a $400 million financing deal to strengthen its balance sheet, with an additional $200 million available for future growth opportunities [15][39] - The company ended 2021 with $242.2 million in unrestricted cash and no net debt [39] Q&A Session Summary Question: Guidance on sales expectations for 2022 - Management indicated that current market volatility suggests net sales could be flat to slightly down, consistent with previous guidance [45] Question: Visibility on margin expansion - Management expects margins to remain compressed in 2022 due to ongoing cost pressures [47] Question: Thoughts on balance sheet and additional capital - The company is comfortable with the current capital raised and views the additional $200 million as a resource for future growth opportunities [48] Question: Update on transportation segment growth - Management expects significant growth in the transportation segment, projecting a 1.5 times increase in revenue compared to the previous year [90] Question: Progress on supply chain localization - Management reported substantial progress in localizing supply chains in Mexico and India, with expectations for continued improvement in 2022 [65] Question: Revenue contribution from European markets - Approximately 30% of the company's blades are shipped to Europe, with Turkey contributing less than 10% of its production [97] Question: Future outlook for the wind market - Management believes that demand for wind energy will strengthen, driven by the need for decarbonization and supportive policies [26]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-37839 TPI Composites, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 20-1590775 (I.R ...

COMPOSITES。 Q3 2021 Earnings Call November 8, 2021 Legal Disclaimer 2 This presentation contains forward-looking statements within the meaning of the federal securities law. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. In many cases, you can identify forward-looking s ...

TPI Composites, Inc. (NASDAQ:TPIC) Q3 2021 Earnings Conference Call November 8, 2021 5:00 PM ET Company Participants Bill Siwek – President and CEO Christian Edin – Investor Relations Bryan Schumaker – CFO Conference Call Participants Philip Shen – Roth Capital Partners James West – Evercore ISI Adhak Belekar – Bank of America Eric Stine – Craig-Hallum Laura Sanchez – Morgan Stanley Stephen Gengaro – Stifel Pearce Hammond – Piper Sandler Pavel Molchanov – Raymond James Mark Strouse – JPMorgan Greg Rostkowsk ...

TPI Composites, Inc. (NASDAQ:TPIC) Q2 2021 Earnings Conference Call August 5, 2021 5:00 PM ET Company Participants Christian Edin - Senior Director, Investor Relations William Siwek - President & Chief Executive Officer Bryan Schumaker - Chief Financial Officer Conference Call Participants Laura Sanchez - Morgan Stanley Donovan Schafer - ROTH Capital Partners Eric Stine - Craig-Hallum Capital Group Stephen Gengaro - Stifel Tom Curran - Seaport Research Partners Pavel Molchanov - Raymond James Operator Good ...

Part I [Condensed Consolidated Financial Statements (Unaudited)](index=5&type=section&id=ITEM%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The company reported a net loss of $39.8 million in Q2 2021, an improvement from $66.1 million, with total assets at $940.5 million [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) For H1 2021, net sales increased to $863.5 million, net loss narrowed to $41.6 million, and cash used in operations significantly reduced to $3.3 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2021 ($) | December 31, 2020 ($) | | :--- | :--- | :--- | | **Total Current Assets** | $557,575 | $548,159 | | **Total Assets** | $940,514 | $956,257 | | **Total Current Liabilities** | $439,277 | $406,108 | | **Total Liabilities** | $779,617 | $755,222 | | **Total Stockholders' Equity** | $160,897 | $201,035 | Condensed Consolidated Statements of Operations (in thousands, except per share data) | Metric | Three Months Ended June 30, 2021 ($) | Three Months Ended June 30, 2020 ($) | Six Months Ended June 30, 2021 ($) | Six Months Ended June 30, 2020 ($) | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $458,841 | $373,817 | $863,521 | $730,453 | | **Gross Profit (Loss)** | $8,326 | $(4,747) | $15,596 | $(8,620) | | **Loss from Operations** | $(2,033) | $(13,255) | $(5,240) | $(28,659) | | **Net Loss** | $(39,797) | $(66,101) | $(41,594) | $(66,593) | | **Diluted Net Loss Per Share** | $(1.08) | $(1.87) | $(1.13) | $(1.89) | Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2021 ($) | Six Months Ended June 30, 2020 ($) | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(3,255) | $(27,005) | | **Net cash used in investing activities** | $(27,059) | $(42,030) | | **Net cash provided by financing activities** | $23,702 | $97,255 | | **Net change in cash, cash equivalents and restricted cash** | $(6,935) | $25,695 | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key disclosures detail revenue by segment, **$3.2 billion** in remaining performance obligations, raw material risks, and significant customer concentration - As of June 30, 2021, the company had approximately **$3.2 billion** in remaining performance obligations, with **46.7%** expected to be recognized as revenue in 2022[47](index=47&type=chunk)[48](index=48&type=chunk) - The company faces significant risks from price increases and supply constraints for key raw materials like resin and carbon fiber, as well as increased logistics costs; for materials not covered by customer contracts, the company typically bears **30%** of price increases[53](index=53&type=chunk) Customer Concentration - % of Total Net Sales (Q2 2021) | Customer | % of Total Net Sales | | :--- | :--- | | Vestas | 45.5% | | GE | 23.1% | | Nordex | 17.8% | Net Sales by Segment (in thousands) | Segment | Q2 2021 ($) | Q2 2020 ($) | | :--- | :--- | :--- | | U.S. | $56,761 | $42,079 | | Asia | $91,106 | $145,918 | | Mexico | $143,170 | $83,420 | | EMEA | $105,350 | $87,541 | | India | $62,454 | $14,859 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q2 2021 net sales increased 22.7%, but demand is expected to decrease due to raw material costs and policy uncertainty, with restructuring charges anticipated [Key Trends and Recent Developments](index=30&type=section&id=Key%20Trends%20and%20Recent%20Developments) The company anticipates decreased wind blade demand and a **$20 million** adverse impact from raw material costs, alongside **$22-37 million** in restructuring charges - The company expects decreased demand for wind blades in the remainder of 2021, particularly in Q4, due to global policy uncertainty and raw material cost increases, which is expected to reduce 2021 Adjusted EBITDA by approximately **$28 million**[98](index=98&type=chunk) - Significant price increases and supply constraints for resin and carbon fiber, plus higher logistics costs, are expected to adversely impact 2021 results by approximately **$20 million** after accounting for customer cost-sharing agreements[99](index=99&type=chunk) - The company forecasts total restructuring charges of **$22 million to $37 million** in 2021 and 2022 related to its global footprint alignment, with **$15 million to $22 million** expected in 2021[100](index=100&type=chunk) [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Q2 2021 net sales rose 22.7% to $458.8 million, driven by volume and pricing, improving gross margin to 1.8% and narrowing operating loss to $2.0 million Net Sales by Product (in thousands) | Product/Service | Q2 2021 ($) | Q2 2020 ($) | Change (%) | | :--- | :--- | :--- | :--- | | Wind blade sales | $418,704 | $348,063 | +20.3% | | Precision molding and assembly | $13,603 | $6,894 | +97.3% | | Transportation sales | $14,915 | $14,902 | +0.1% | | **Total net sales** | **$458,841** | **$373,817** | **+22.7%** | - The increase in wind blade sales was driven by a **7% increase** in the number of blades produced and a higher average sales price due to product mix and foreign currency fluctuations[107](index=107&type=chunk) - Total cost of goods sold as a percentage of net sales decreased from **101.3% to 98.2%** in Q2 2021 vs Q2 2020, primarily due to lower warranty and direct labor costs, partially offset by higher direct material costs[116](index=116&type=chunk) Income (Loss) from Operations by Segment (in thousands) | Segment | Q2 2021 ($) | Q2 2020 ($) | | :--- | :--- | :--- | | U.S. | $148 | $(12,045) | | Asia | $8,105 | $18,492 | | Mexico | $(25,256) | $(11,324) | | EMEA | $10,782 | $(1,145) | | India | $4,188 | $(7,233) | | **Total Loss from Operations** | **$(2,033)** | **$(13,255)** | [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2021, the company had **$123.1 million** in cash and **$237.1 million** in debt, with improved operating cash flow and sufficient liquidity for the next twelve months - As of June 30, 2021, the company had **$123.1 million** in cash and cash equivalents and **$237.1 million** in outstanding debt[130](index=130&type=chunk)[133](index=133&type=chunk) - Of the **$123.1 million** in cash, **$67.9 million** was located outside the U.S., including **$58.7 million** in China, where repatriation is subject to government restrictions[133](index=133&type=chunk)[134](index=134&type=chunk) Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2021 ($) | Six Months Ended June 30, 2020 ($) | | :--- | :--- | :--- | | Net cash used in operating activities | $(3,255) | $(27,005) | | Net cash used in investing activities | $(27,059) | $(42,030) | | Net cash provided by financing activities | $23,702 | $97,255 | - The company anticipates fiscal year 2021 capital expenditures to be between **$55 million and $65 million**[138](index=138&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company faces market risks from foreign currency and commodity price fluctuations, with a **10%** FX change impacting operating income by **$15.7 million** - **Foreign Currency Risk:** A hypothetical **10% change** in exchange rates would have resulted in a change to income from operations of approximately **$15.7 million** for the six months ended June 30, 2021[148](index=148&type=chunk) - **Commodity Price Risk:** A **10% change** in the price of resin and resin systems would have impacted income from operations by approximately **$11.8 million** for the full year 2021, before accounting for customer risk-sharing mechanisms[151](index=151&type=chunk) - **Interest Rate Risk:** Due to low LIBOR and EURIBOR rates, a **10% change** in these rates would not have a material impact on earnings, fair values, or cash flows[152](index=152&type=chunk) [Controls and Procedures](index=45&type=section&id=Item%204.%20CONTROLS%20AND%20PROCEDURES) Disclosure controls and procedures were **effective** as of June 30, 2021, with no material changes in internal control over financial reporting during the quarter - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2021[154](index=154&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[155](index=155&type=chunk) Part II [Legal Proceedings & Risk Factors](index=46&type=section&id=Item%201.%20Legal%20Proceedings%20%26%20Item%201A.%20Risk%20Factors) The company reports no material legal proceedings, but highlights ongoing risks from potential future COVID-19 pandemic disruptions - The company is not party to any material legal proceedings that would have a material adverse effect on its financial condition[87](index=87&type=chunk)[157](index=157&type=chunk) - A key risk factor is the potential future impact of the COVID-19 pandemic; although not materially affected in H1 2021, new resurgences could disrupt manufacturing operations and the global supply chain[159](index=159&type=chunk)[160](index=160&type=chunk) [Other Information (Items 2-6)](index=46&type=section&id=Items%202-6) This section confirms no unregistered equity sales, no defaults on senior securities, no mine safety disclosures, and lists filed exhibits - The company reported no activity for Unregistered Sales of Equity Securities, Defaults Upon Senior Securities, or Mine Safety Disclosures[161](index=161&type=chunk)[163](index=163&type=chunk)[164](index=164&type=chunk)

tpl COMPOSITES。 COMPANY PRESENTATION June 2021 Legal Disclaimer This presentation contains forward-looking statements within the meaning of the federal securities law. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. In many cases, you can identify forward-looking stateme ...

COMPOSITES。 Q1 2021 Earnings Call May 6, 2021 Legal Disclaimer 2 This presentation contains forward-looking statements within the meaning of the federal securities law. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. In many cases, you can identify forward-looking statem ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-37839 TPI Composites, Inc. (Exact name of registrant as specified in its charter) Delaware 20-1590775 (State or other jurisdiction of incorporation or organization) (I.R.S. ...