Q2 EARNINGS REPORT August 2025 © 2025 Shoals Technologies Group Disclaimer Forward-Looking Statements This presentation contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include information concerning our possible or assumed future results of operations; expectations regarding the utility-scale solar market; project delays; regulatory environment; the effects of strategic pricing ...

Financial Performance - Q1 2025 revenue was $804 million, a decrease of 115% year-over-year compared to $90807 million in Q1 2024[31] - Adjusted EBITDA for Q1 2025 was $12789 million, a decrease of 375% compared to $20458 million in Q1 2024[31] - Adjusted net income for Q1 2025 was $5193 million, a decrease of 589% compared to $12621 million in Q1 2024[31] - The company's backlog and awarded orders (BLAO) reached $6451 million[21] - Net debt-to-adjusted EBITDA ratio is 12x[46] Growth Initiatives and Market Position - More than 15% of BLAO includes projects with at least one new product[26] - Signed an MOU with UGT Renewables / Sun Africa to help deliver up to 12GW of international solar power in the coming years[27] - The company is focusing on improving supply chain resiliency, exceeding customer service requirements, hitting delivery timelines, providing exceptional quality, and solving real business problems with new products[59] Guidance - The company anticipates full year 2025 revenue to be between $410 million and $450 million[55] - The company anticipates full year 2025 adjusted EBITDA to be between $100 million and $115 million[55] - The company anticipates capital expenditures for 2025 to be between $25 million and $35 million[55]