Meyer Burger Technology AG · OTC:MYBUF
Meyer Burger Technology — H1 2024 Earnings Presentation
20 slides from Meyer Burger Technology's earnings presentation, Nov 1, 2024
Slide 1: Half-year 2024
Half-year 2024 Presentation for Investors, Analysts, Media November 1, 2024 XX MEYER BURGER
Slide 2: Disclaimer
Disclaimer NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL This document is not intended to constitute, and does not constitute,
Slide 3: Agenda
Agenda 1 Market and Business Review 2 Financial Statements H1 2024 3 Outlook xX MEYER BURGER Meyer Burger Technology AG, Presentation for Investors, Analysts and Media, November 1, 2024 3
Slide 4: Market and Business Review
Market and Business Review Meyer Burger Technology AG, Presentation for Investors, Analysts and Media, November1, 2024.4
Slide 5: Chronology of events since the beginning of 2024
Chronology of events since the beginning of 2024 January Following the severe impact of the market distortion in Europe, Meyer Burger ready to close its module production in Germany to eliminate unsustainable losses in the absence of resilience measures in Germany and to fully focus on the growth in
Slide 6: "US only" to "US – Germany" - Focus on what we have
“US only” to “US — Germany” - Focus on what we have Initial US Only Production Business Plan \ Current Thalheim — Arizona Business Plan * Shifting manufacturing from Thaker * Cell facility in Thalheim Europe to the U.S. (cell, (Germany) will supply Module + Two 2.1GW cell and module Hohenstein facil
Slide 7: April 2024 Rights Offering Use of Proceeds
April 2024 Rights Offering Use of Proceeds Colorado Springs - c.CHF 40M Investments! + Funds have been used to purchase the necessary equipment for setting up the cell production facility in Colorado Springs and associated set up costs + Total capex spent to date of c.CHF 80M + Acquired highly custo
Slide 8: Update restructuring
Update restructuring Restructuring program aimed at enabling a return to profitability + Restructuring program validated by restructuring advisor FTI-Andersch * Reduction of the global workforce from currently approximately 1,050 employees to around 850 by the end of 2025. + Workforce at the Hohenst
Slide 9: HJT solar cell production in Thalheim, Germany
HJT solar cell production in Thalheim, Germany Status of solar cell factory in Thalheim, Germany Production volume Production yield Cell efficiency —eM6 =—e=MIO —MI0 plan —eM6 —e=MI0 —Plan —eM6 —eMIO —Plan () (2) (3) (4) yrw3wy yy tT YY YY SF BF vrwwy y~wwr vy Y Ft row NX xyovywvrvyyryet SQ NN DAA A
Slide 10: Module production for the US market
Module production for the US market + 2 production lines with a total of about 1.4 GW planned: o Linie 1: Ramp-up started in June, production volumes increasing on a monthly basis according to plan. o Linie 2: Ramp-up of the second line scheduled for the end of the year. © Solar cells are supplied f
Slide 11: Outstanding durability of Meyer Burger products
Outstanding durability of Meyer Burger products XX MEYER BURGER PVEL Top Performer pave ey MODULE” RELIABILITY SCORE XX MEYER BURGER Independent quality seal for Meyer Burger modules Major customers in the USA expect independent quality testing. Kiwa-PVEL test seal is renowned and recognized in the
Slide 12: US solar market offers best prospects for Meyer Burger
US solar market offers best prospects for Meyer Burger Off-take agreements * Production volumes largely absorbed by current offtake agreements for the next 3-4 years. Incentives under the Inflation Reduction Act (IRA) * Tax credit for domestic production until the end of 2032 (PTC) o 7 ct./Wp for so
Slide 13: Financial statements 1H 2024
Financial statements 1H 2024 Meyer Burger Technology AG, Presentation for Investors, Analysts and Media, November1, 202413,
Slide 14: Key figures P&L H1 2024
Key figures P&L H1 2024 Net sales [CHF M] EBITDA [CHF M] EBIT [CHF M] Net result [CHF M] H12023 H12024 H12023 H12024 H12023 =-H12024 H12023 H12024 xX MEYER BURGER Meyer Burger Technology AG, Presentation for Investors, Analysts and Media, November, 2024. 14
Slide 15: Key metrics H1 2024
Key metrics H1 2024 FTE Cash & cash Inventories PP&E and PP&E ratio! —_ Equity and equity ratio? equivalents [CHF M] [CHF Mand %] [CHF Mand %] [CHF M] aoa 40.8% 28.1% Ha is a EI EOY 2023 H12024 EOY 2023 H12024 EOY 2023 H12024 EOY 2023 H1 2024 EOY 2023 H12024 | PP6E ratio reflects the proportion of P
Slide 16: Extraordinary items hit H1 2024 EBITDA and EBIT
Extraordinary items hit H1 2024 EBITDA and EBIT [CHF M] Betsmm — Operative Belem — One offs -124 EBITDA == Ordinary Additional Impairment —_ Impairment depreciation scheduled PP&E PP&E and & others depreciations Intangibles Intangibles from reduction — (CGU) (U.S. of useful lives equipment) XX MEYER
Slide 17: Outlook
Outlook XX MEYER BURGER Meyer Burger Technology AG, Presentation for Investors, Analysts and Media, November! 202417
Slide 18: Progress in closing the funding gap and restructuring the existing liabilities
Progress in closing the funding gap and restructuring the existing liabilities High double digit million funding gap due to certain significant initial investments made for the Colorado Springs cell factory project and further investments required for the completion of the module plant in Goodyear.
Slide 19: Solid business case
Solid business case Opportunity shaping up based on + Firm multi gigawatt offtake agreements in place, produced solar modules can be sold immediately. * Proven solar cell production in Thalheim, Germany. + Ramp-up of 1.4 GW module production in Goodyear, Arizona. + Aiming to close the funding gap in
Slide 20: Meyer Burger
XX MEYER BURGER With the right energy, anything is possible.
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