PresentationGreetings, and welcome to the Plug Power Business Update Call. [Operator Instructions]. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Teal Hoyos. Please go ahead.Teal Vivacqua HoyosDirector of Marketing Communications Thank you. This call will include forward-looking statements. These forward-looking statements contain projections of our future results of operations of our financial position or other forward-looking information. We intend these f ...

Summary of Plug Power Business Update Call Company Overview - **Company**: Plug Power (NasdaqCM:PLUG) - **Event**: Business Update Call for the 2026 Extraordinary General Meeting - **Date**: February 2, 2026 Key Points Industry and Market Context - The U.S. hydrogen economy is perceived to be improving, with significant legislative support such as the fuel cell tax credit included in a bill passed in July 2025, which is expected to enhance business opportunities for Plug Power [25][26] - The company is optimistic about the future of hydrogen, emphasizing its importance for energy independence in both Europe and the U.S. [39] Financial and Operational Updates - Plug Power has made significant strides in reducing cash burn, with a reported 50% reduction in cash usage last year [46] - The company aims to achieve EBITDA break-even by the end of 2026, focusing on both reducing expenses and growing sales [46] - A recent convert deal has reduced the interest rate on debt from approximately 13%-14% to 7% [45] Shareholder Proposals and Voting - Proposal 2 involves increasing the number of authorized shares, which is critical for meeting contractual obligations related to a $370 million warrant sale and a long-term convert deal [19][20] - If Proposal 2 fails, a reverse stock split will be necessary, with potential ratios discussed being 1:5 or 1:10 [35][37] - The company is actively engaging with institutional shareholders to secure votes, with over 150 million shares recalled for voting [23][24] - As of the call, approximately 52% of shares had voted, with about 40 million more votes needed to pass Proposal 2 [32] Challenges Faced - European and Asian shareholders face difficulties in voting due to broker-related issues, which the company is attempting to address [12][14] - The company is working to simplify the voting process for these shareholders to ensure their participation [12][13] Future Projects and Developments - Plug Power is involved in several large-scale projects, including a $10 billion project in Uzbekistan, with expectations for the first Final Investment Decision (FID) in the first half of 2026 [17][18] - The company is exploring synergies between hydrogen production and data centers, aiming to leverage its position as a major user of liquid hydrogen [56] Conclusion - Plug Power is focused on innovation and maintaining its competitive edge in the hydrogen market, with a strong belief in the long-term viability of hydrogen as a key energy source [39][41] - The company encourages shareholders to vote in favor of Proposal 2 to avoid the need for a reverse stock split and to support the company's growth initiatives [67]

Plug Power Inc (NASDAQ:PLUG) shares fell sharply Friday after President Donald Trump formally nominated former Fed governor Kevin Warsh as Federal Reserve chair, sparking fears that a more hawkish policy regime and potentially higher-for-longer interest rates could squeeze the hydrogen fuel-cell maker's capital-intensive growth plans.Here’s what investors need to know.Plug Power stock is feeling bearish pressure. Why are PLUG shares down?Why Trump’s Fed Chair Pick MattersAt the same time, if tighter Fed pol ...

Core Viewpoint - Plug Power Inc. is hosting an investor Q&A session on February 2, 2026, to discuss proposals for the adjourned Special Meeting of Stockholders on February 5, 2026, which require majority approval from outstanding shares [1]. Voting Status - As of the Special Meeting date, approximately 92.63% and 89.09% of votes cast supported Proposals 1 and 2, respectively, but only about 36.93% and 46.86% of the outstanding shares were represented [2]. - The company estimates needing an additional 13.07% of outstanding shares to vote in favor of Proposal 1 and an additional 3.14% for Proposal 2 to meet voting requirements [2]. Proposal Outcomes - If Proposal 2 is not approved, the company will implement a reverse stock split to increase the authorized shares of common stock available for issuance [3]. Voting Encouragement - The company urges all eligible stockholders to vote promptly to ensure their views are represented, providing instructions on its website and contact information for assistance [4]. Call Details - The investor call will be accessible from the Plug homepage, and a replay will be available online after the event [5]. Additional Information - Plug has filed a definitive proxy statement and other relevant documents with the SEC regarding the Special Meeting, urging investors to read these documents carefully [6]. - The company and its directors may be considered participants in the solicitation of proxies from stockholders in connection with the Special Meeting [7].

Core Viewpoint - Plug Power Inc. has adjourned its Special Meeting of Stockholders to February 5, 2026, to allow more time for stockholders to vote on Proposals 1 and 2 [1]. Proposal Voting - Proposals 1 and 2 require a majority vote from the Company's outstanding shares, and the meeting was adjourned to facilitate broader participation [2]. - As of the meeting date, approximately 92.63% and 89.09% of the votes cast supported Proposals 1 and 2, respectively, but only about 36.93% and 46.86% of the outstanding shares were represented [3]. - The Company estimates needing an additional 13.07% of outstanding shares for Proposal 1 and 3.14% for Proposal 2 to meet the voting requirements [3]. Reverse Stock Split - If Proposal 2 is not approved, the Company will proceed with a reverse stock split to increase its authorized shares of common stock available for issuance [4]. CEO Statement - The CEO emphasized the importance of stockholder participation and noted that the Company is close to approval for Proposal 2, indicating that a slight shift in votes could lead to its passage [5]. - The Company encourages stockholders to vote "yes" and to reconsider any previous "no" or "abstain" votes [5]. Voting Instructions - Stockholders are urged to vote promptly to ensure their views are represented, with detailed instructions available on the Company's website [5].

Core Viewpoint - Plug Power Inc. is urging stockholders to vote their shares at the upcoming Special Meeting on January 29, 2026, to support critical proposals for the company's operations and growth strategy [1][3]. Group 1: Special Meeting Details - The Special Meeting will take place at 10:00 a.m. Eastern Time on January 29, 2026, and will be webcast live [4]. - Stockholders as of the Record Date (December 12, 2025) can attend, vote, and ask questions during the meeting [4]. Group 2: Proposals for Consideration - Proposal 1 aims to amend the Company's charter to modernize voting standards, allowing certain future amendments to be approved by a majority of votes cast, aligning with Delaware law [7]. - Proposal 2 seeks to increase the number of authorized shares of common stock from 1,500,000,000 to 3,000,000,000, providing necessary flexibility for financial obligations and operations; failure to pass this proposal may lead to a reverse stock split [7]. - Proposal 3 requests the authority to adjourn the Special Meeting if additional time is needed to secure votes for Proposals 1 or 2 [7]. Group 3: Company Overview - Plug Power is a leader in the hydrogen economy, providing a fully integrated ecosystem for hydrogen production, storage, delivery, and power generation [5]. - The company has deployed over 72,000 fuel cell systems and 285 fueling stations, and operates hydrogen plants in Georgia, Tennessee, and Louisiana, with a production capacity of 40 tons per day [6].

Core Insights - The article discusses overlooked penny stocks as potential investment opportunities, emphasizing that investors often miss compelling options due to the volatility and speculative nature of stocks trading under $5 [1][4]. Market Conditions - Broader market conditions are becoming more supportive of selective risk-taking, with a forecast for 2026 indicating stronger-than-trend growth, accommodative policy, and enhanced productivity [2]. - A client survey revealed that 50% of respondents are bullish, with 48% likely to take risks in U.S. equities and 24% in emerging markets [2]. AI Investment Theme - AI is highlighted as a top equity investment theme, with expectations that the market continues to undervalue the opportunities presented by AI data center buildouts [3]. - The improving macro environment and investor enthusiasm for AI-driven productivity are creating favorable conditions for overlooked stocks [3]. Methodology for Stock Selection - The selection process involved filtering companies with a market capitalization over $2 billion and a trading price under $5, focusing on those with the fewest hedge fund holdings to identify overlooked stocks [6]. - Stocks were then ranked based on their potential upside [6]. Company Insights: Ardagh Metal Packaging S.A. (NYSE:AMBP) - Ardagh Metal Packaging has an upside potential of 0.23% as of January 21, 2026, with 30 hedge fund holders [8]. - UBS raised its price target for the company to $4.25, while Morgan Stanley increased it to $4.30, indicating a positive outlook on global beverage demand growth of 2.3% in 2026 [9]. - Truist also raised its price target to $5, noting favorable conditions for beverage cans in North America and Europe [10]. - The company operates in the metal beverage can sector, primarily serving beverage producers [11]. Company Insights: Plug Power Inc. (NASDAQ:PLUG) - Plug Power has an upside potential of 1.35% as of January 21, 2026, with 27 hedge fund holders [12]. - TD Securities lowered its price target to $2 and downgraded the stock from Buy to Hold, citing uncertainty around demand and execution risks [12]. - Analyst sentiment is mixed, with 28% of analysts rating it as a Buy and a wide range in consensus price targets, indicating a cautious outlook [14]. - The company specializes in hydrogen fuel cell product solutions [15].

Core Insights - Plug Power's stock price increased by 16% on Thursday, marking its best performance in months [1] - The stock reached a high of $2.60, the highest level since November of the previous year [1] Company Developments - The significant stock price jump was attributed to the company adjusting a key deal with Walmart [1]

Core Viewpoint - Plug Power Inc's stock is experiencing downward pressure due to the announcement of a 10% tariff on goods imported from several European countries, which could impact the company's costs and growth prospects in the European market [1][3][4]. Group 1: Market Reaction - Plug Power shares fell 2.12% to $2.31, reflecting a broader sell-off in tech and high-beta stocks following President Trump's tariff announcement [1][11]. - The stock is currently trading 5.23% above its 12-month performance, indicating modest growth over the past year, but is closer to its 52-week lows than its highs, suggesting potential challenges ahead [5]. Group 2: Business Impact - The 10% tariff on European equipment could increase costs for specialized components used in Plug's U.S. hydrogen plants and fueling stations, which is concerning given the company's current unprofitability and heavy losses [3]. - Any potential EU retaliation against U.S. clean-tech exports could hinder Plug's ambitions to sell American-made electrolyzers and fuel-cell solutions in Europe, a critical growth market for the company [3]. Group 3: Future Outlook - Investors are anticipating the next earnings report scheduled for March 2, which could serve as a crucial turning point for the company [7]. - The average analyst price target for Plug Power is $2.38, with a consensus rating of Hold, indicating cautious sentiment among analysts [8].

Core Viewpoint - Plug Power Inc. is preparing for a Special Meeting on January 29, 2026, to address critical proposals regarding its corporate governance and share structure, following a previous vote where approximately 84% of stockholders supported increasing the number of authorized shares but did not meet the required approval threshold [7][8]. Group 1: Upcoming Events - A live Reddit Ask Me Anything (AMA) session with CEO Andy Marsh will take place on January 22, 2026, to discuss the Special Meeting [2][3]. - A second AMA is planned for March 2026, led by incoming CEO Jose Luis Crespo, focusing on Plug's 2025 results [2]. Group 2: Leadership Transition - Andy Marsh has been CEO since April 2008 and will transition to Executive Chairman in March 2026, with Jose Luis Crespo taking over as CEO [5][6]. - Marsh will continue to guide Plug's long-term strategy during this leadership transition [6]. Group 3: Special Meeting Proposals - The Special Meeting will address proposals to modernize voting standards and increase the number of authorized shares of common stock, which are essential for the company's operational flexibility [8][9]. - The Board believes that increasing authorized shares is crucial for meeting financial obligations and supporting ongoing business needs; failure to approve this proposal may lead to a reverse stock split [8]. Group 4: Company Overview - Plug Power is a leader in the hydrogen economy, providing a fully integrated ecosystem for hydrogen production, storage, delivery, and power generation [10]. - The company has deployed over 72,000 fuel cell systems and 285 fueling stations globally, with hydrogen plants operational in Georgia, Tennessee, and Louisiana, producing 40 tons of hydrogen per day [11].