The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of RelyEZ Energy Storage Technology Co., Ltd. 深圳市遠信儲能技術股份有限公司 (the "Company") (A joint stock company established in th ...

香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本申請版本全部或任何部分內容而產生或倚賴該 等內容而引致的任何損失承擔任何責任。 RelyEZ Energy Storage Technology Co., Ltd. 深圳市遠信儲能技術股份有限公司 （「本公司」） （於中華人民共和國成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」） 的要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文件， 即代表 閣下知悉、接納並向本公司、本公司的獨家保薦人、整體協調人、顧問及包銷團成員 表示同意： 倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據與香港公司註冊處處長 註冊的本公司文件作出投資決定。該文件的文本將於發售期內向公眾人士派發。 (a) 本文件僅為向香港投資者提供有關本公司的資料，概無任何其他目的；投資者不應根據本 文件中的資料作出任何投資決定； (b) 在聯交所網站登 ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of RelyEZ Energy Storage Technology Co., Ltd. 深圳市遠信儲能技術股份有限公司 (the "Company") (A joint stock company established in th ...

香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本申請版本全部或任何部分內容而產生或倚賴該 等內容而引致的任何損失承擔任何責任。 RelyEZ Energy Storage Technology Co., Ltd. 深圳市遠信儲能技術股份有限公司 （「本公司」） （於中華人民共和國成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」） 的要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文件， 即代表 閣下知悉、接納並向本公司、本公司的獨家保薦人、整體協調人、顧問及包銷團成員 表示同意： 倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據與香港公司註冊處處長 註冊的本公司文件作出投資決定。該文件的文本將於發售期內向公眾人士派發。 (a) 本文件僅為向香港投資者提供有關本公司的資料，概無任何其他目的；投資者不應根據本 文件中的資料作出任何投資決定； (b) 在聯交所網站登 ...

Financial Data and Key Metrics Changes - SaaS and license revenue for the first quarter grew to $163.8 million, representing a 9% year-over-year increase [19] - Total revenue increased by 7% year-over-year to $238.8 million, with total gross profit growing by 9.4% to $160.6 million [17] - GAAP net income rose by 18.4% year-over-year to $27.7 million, with GAAP EPS per diluted share at $0.52 [19] - Non-GAAP adjusted EBITDA increased by 17.5% year-over-year to $43.5 million, and non-GAAP adjusted net income grew by 11.3% to $30.4 million [19] - The company ended the quarter with $1.19 billion in cash and cash equivalents, producing $17.9 million in free cash flow [19] Business Line Data and Key Metrics Changes - EnergyHub was a primary contributor to the revenue beat, with strong growth in distributed energy resource management programs [17] - Revenue retention for commercial subscribers is currently at 98%, exceeding the consolidated target range of 92% to 94% [8] - The video solutions segment saw over 85% of installed seven twenty-nine cameras subscribed to the proactive deterrent solution, PerimeterGuard [9] Market Data and Key Metrics Changes - International markets are showing growth, with 30% of new international accounts including video, double the rate from the previous year [9] - The company is experiencing strong demand for its EnergyHub platform due to factors like EV adoption and extreme weather impacting the grid [10] Company Strategy and Development Direction - The company aims to expand its commercial services and innovate for the market, focusing on operational efficiency through standardization [7] - There is a strategic partnership with General Motors Energy to integrate GM EVs into the EnergyHub ecosystem, enhancing its market position [11] - The company is focused on building out its international dealer base to enhance its competitive position in global markets [56] Management's Comments on Operating Environment and Future Outlook - Management did not observe material changes in demand during the quarter despite macroeconomic concerns [5] - The company is cautiously optimistic about maintaining revenue retention rates and is not modeling significant impacts from tariff changes at this time [82] - The management team is committed to driving quality growth in underpenetrated markets, emphasizing collaboration and innovation [25] Other Important Information - The company has diversified its supply chain, with less than 10% of hardware revenue derived from products shipped from China [19] - The company is implementing a wider range in its revenue guidance to navigate tariff and macro uncertainties [24] Q&A Session Summary Question: Can you discuss recent average revenue per account trends in commercial and upsell opportunities? - Management noted that retention metrics are positive due to a "land and expand" dynamic, leading to upward trends in ARPU [28] Question: What factors are driving the moderation in SaaS growth as the year progresses? - The moderation is attributed to the annual nature of EnergyHub's business model and a return to historical revenue retention rates [40] Question: How is the company positioned competitively in international markets? - Management indicated that international markets are competitive but are experiencing faster growth than domestic markets, particularly in Latin America and Europe [57] Question: What are the initial priorities for the new CFO? - The new CFO aims to become more externally focused while maintaining business as usual internally [65] Question: How is the company addressing the competitive landscape and pricing strategies? - Management is monitoring low-cost products entering the market but believes in the value of their comprehensive security solutions [98]

Financial Data and Key Metrics Changes - SaaS and license revenue for Q1 reached $163.8 million, a 9% year-over-year increase, exceeding the guidance of $160.3 million [14][21] - Total revenue grew 7% year-over-year to $238.8 million, with total gross profit increasing 9.4% to $160.6 million [16] - GAAP net income rose 18.4% year-over-year to $27.7 million, with GAAP EPS at $0.52 [17] - Non-GAAP adjusted EBITDA grew 17.5% year-over-year to $43.5 million, and non-GAAP adjusted net income increased 11.3% to $30.4 million [17] Business Line Data and Key Metrics Changes - Revenue retention for commercial subscribers is at 98%, significantly above the target range of 92-94% [6] - The seven twenty-nine Floodlight video camera product is being installed in nearly 4,000 properties per month, with over 85% of these installations subscribing to the proactive deterrent solution, PerimeterGuard [7][8] - EnergyHub's platform is experiencing rapid growth, with enrollments exceeding expectations in Q1 [15] Market Data and Key Metrics Changes - International accounts with video services increased to 30% of new accounts, doubling from the same period last year [8] - The company has diversified its supply chain, with less than 10% of hardware revenue derived from products shipped from China [11][12] Company Strategy and Development Direction - The company aims to innovate in the commercial market, focusing on operational efficiency and standardization of offerings [6] - A strategic partnership with General Motors Energy was announced to integrate GM EVs into the EnergyHub ecosystem, enhancing market position [10] - The company is focused on expanding its international presence, particularly in Latin America and Europe, while addressing competitive pressures from low-cost products [54] Management's Comments on Operating Environment and Future Outlook - Management did not observe material changes in demand due to macroeconomic conditions during Q1 [4][16] - The company anticipates a potential impact from tariffs but feels well-positioned to manage current 10% tariffs [11][18] - Guidance for Q2 SaaS and license revenue is set between $167 million and $167.2 million, with full-year revenue expectations raised to between $975.8 million and $991.2 million [21][22] Other Important Information - The company has approximately nine months of inventory on hand, higher than normal, to mitigate tariff impacts [18] - The new five sixteen WiFi camera is expected to broaden adoption of video analytics services in residential markets [8] Q&A Session Summary Question: Update on commercial average revenue per account trends and upsell opportunities - Management noted positive dynamics in ARPU due to a "land and expand" strategy, with commercial ARPU being significantly higher than residential [25] Question: Quantifying revenue contribution from tariff-related pricing increases for 2025 - A 10% cost increase could lead to approximately $20 million in annualized revenue contribution, though the actual impact may be less due to timing and sourcing [27] Question: Factors driving moderation in SaaS growth as the year progresses - The moderation is attributed to the annual nature of EnergyHub's demand response programs and a return to historical revenue retention rates [36][37] Question: State of international markets and competitive position - Management indicated that international markets are competitive but growing faster than domestic markets, with a focus on building out a dealer base [52][54] Question: Impact of macroeconomic conditions on account origination activity - No significant changes were observed in account origination activity due to macroeconomic factors, with April showing a brief pause before returning to normal [58] Question: Strategies for driving higher video adoption among existing customers - Management highlighted the opportunity for service providers to upsell video services, particularly with new product offerings that enhance customer experience [66][70]