Meyer Burger Investor Presentation

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2024

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#1Meyer Burger Investment Case Outline 23 February 2024 ☑ MEYER BURGER#2Disclaimer NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION IN OR INTO WHICH THE SAME WOULD BE UNLAWFUL This document and any oral statements made at the presentation hereof (together, the "Presentation") contains information regarding Meyer Burger Technology AG (the "Company" and together with its directly or indirectly held existing or future consolidated subsidiaries, the "Group"). This Presentation has been prepared for information purposes only and should not be used in making any investment decision. This Presentation and its contents are solely for your information and may not be reproduced, distributed, published, passed on or disclosed, in whole or in part, by any medium or in any form, to any other person or used for any other purpose, without the prior written consent of the Company. Any copyrights which may derive from this Presentation shall remain with the Company. This Presentation has been prepared by the Company and includes information obtained from third-party sources. This Presentation is intended to provide a general overview of the Group's business and does not deal with, nor purport to deal with, all aspects and details regarding the Company and the Group. The information and opinions contained in this Presentation do not purport to be comprehensive and are provided as of the date of this Presentation or as of the date specified herein. Further, this Presentation may include market share and industry data obtained by the Company from industry publications and surveys or other similar sources. The Company may not have access to the facts and assumptions underlying the numerical data, market data and other information extracted from public sources and neither the Company, any member of the Group nor any of their respective directors, officers, employees, shareholders, affiliates, agents and advisers are able to verify such information, and assume no responsibility for the correctness of any such information. Accordingly, undue reliance should not be placed on any of the numerical data or market data contained in this Presentation. None of the Company, the Group, nor any other person has independently verified the information contained in this Presentation. No representation, warranty or undertaking, express or implied, is given as to the accuracy, fairness or completeness of the information, opinions, projections or estimates given or contained in this Presentation and no liability is accepted for any such information or opinions or for any errors or omissions or any loss howsoever arising, directly or indirectly, from use of this Presentation or its contents or otherwise arising in connection therewith. No one is under any obligation to update or keep current the information contained in this Presentation or to correct any inaccuracies which may become apparent, and any opinions expressed herein are subject to change without notice. The Company reserves the right to amend or replace the Presentation at any time, and undertakes no obligation to provide the recipients with access to any additional information. Nothing in this Presentation is, or should be relied upon as, a promise or representation as to the future. Certain financial data included in this Presentation consists of non-GAAP financial measures. These non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with Swiss GAAP FER. You are cautioned not to place undue reliance on any non-GAAP financial measures and ratios included herein. In addition, certain financial information contained herein has not been audited, confirmed or otherwise covered by a report by independent accountants and, as such, actual data could vary, possibly significantly, from the data set forth herein. Certain financial information (including percentages) in this Presentation may have been rounded according to commercial standards. As a result, the aggregate amounts may not correspond in all cases to the aggregated amounts of the underlying (unrounded) figures appearing elsewhere in this Presentation. The information in this Presentation is of a preliminary and abbreviated nature and may be subject to updating, revision and amendment, and may change materially. This Presentation is not an offer to sell or a solicitation of offers to purchase or subscribe for any securities. This Presentation is not a prospectus within the meaning of the Swiss Financial Services Act and not a prospectus under any other applicable laws. Copies of this Presentation may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained in this Presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. This Presentation constitutes advertising in accordance with article 68 of the FinSA. Such advertisements are communications to investors aiming to draw their attention to financial instruments. Any investment decisions with respect to any securities should not be made based on any such advertisement. MEYER BURGER 2#3Business Review And Key Preliminary 2023 Figures Market distortions created by oversupply of Asian-made solar PV products and trade restrictions imposed by the U.S. resulting in high losses in Europe Installed Capacity (GW) 2022 Group is now implementing its plan to prepare for the closure of Freiberg, as announced on January 17th 1.0 Total Sales (CHFm) (3) (2) 2023 2022 2023 1.4 147 EBITDA (CHFM) ht Construction of 2.0 GW U.S. cell and module facilities on track subject to financing (1) (3) 2022 2023 (35) Cash position of around CHF 150m as of 31-Dec-23, with rights issue and additional financing required to complete construction of U.S. facilities Cash (CHFm) 293 (4) 135 150 (126) (2) 2022 2023 Source: Company Information; 1) Including a combination of the rights issue, the export financing loan and either the 45X or the DOE loan; 2) Approximate value as of 31st December; 3) Unaudited and subject to potential adjustments at year-end results; 4) Refers to Cash and Cash Equivalents as of 31st December MEYER BURGER 3#4U.S. Opportunity Remains Highly Attractive U.S. Solar PV Deployment Forecast, by SEIA(1) Installed Capacity (GW) 20 20 123 12 28 18 33 38 28 24 47 43 32 2 36 6 6 6 7 7 8 2.0 GW Module Facility in Goodyear (AZ) Q2 2024 Start of Production (2) 500 Employees (3) 10k Solar Modules per Day (3) 2.0 GW Cell Facility in Colorado Springs (CO)(3) ~Year End 2024 Start of Production (2) DESRI 350 Employees (3) 1.4m HJT Solar Half Cells per Day (3) INGKA™ BayWa ✓ Mid-term EBITDA of CHF 250m expected to be achievable, subject to completion of U.S. facilities (2) 2022 2023E 2024E 2025E Residential ■Commercial 2026E ■Community Solar 2027E Utility Volumes backed by long-term off-take commitments (~5.4 GW) with blue-chip utility customers Source: Company Information; 1) SEIA/Wood Mackenzie Power & Renewables U.S. Solar Market Insight 2022 Year in Review 2) Subject to financing, including a combination of the rights issue, the export financing loan and either the 45X or the DOE loan; 3) At run-rate production ☑ MEYER BURGER 4#5Potential Transition To A Partnership Business Model Currently Being Explored Acceleration of Meyer Burger's cutting-edge technology on an exclusive basis to industrial partners in different regions of the world Partnership business model including licensing Meyer Burger's technology MEYER BURGER Meyer Burger would retain ownership of its intellectual property Continued funding of production facilities by partners 5#6Financing Plan To Close The Funding Gap Financing mix: • Funding gap of CHF 450m to complete construction of Colorado and Arizona manufacturing facilities • • . • Rights issue with target proceeds of CHF 200-250 million Remainder to be debt financed from additional financing options: export financing loan, DOE loan, and 45X financing Export financing loan from a commercial bank, supported by an export agency credit guarantee from the German government, in the amount of up to USD 95 million USD 200-250 million U.S Department of Energy ("DOE") guaranteed 10 year loan from the Federal Financing Bank (1) . Advanced manufacturing tax credit (so-called 45X) of up to USD 300 million to monetise future tax credits with term of 5-6 years • In parallel, continue to pursue potential strategic partnerships to drive longer-term growth and reduce capital intensity Source: Company Information; 1) After successfully completing Part I of the DOE process, the Group was formally invited in February 2024 to submit Part II of an application for such loan. DOE's invitation to submit a Part II application is not an assurance that DOE will invite the applicant into the due diligence and term sheet negotiation process, that DOE will offer a term sheet to the applicant, or that the terms and conditions of a term sheet will be consistent with terms proposed by the applicant. The foregoing matters are wholly dependent on the results of DOE review and evaluation of a Part II application, and DOE's determination whether to proceed MEYER BURGER 6#7Meyer Burger Investment Case 1 Meyer Burger Serves The Structural Growth Market Of Solar 2 Meyer Burger Is The Only Western Supplier Of High Technology HJT Cells And Modules 3 Highly Profitable U.S. Business With Strong Policy Support Potential Strategic Upsides With Partnership Discussions Ongoing MEYER BURGER 7#8☑ MEYER BURGER With the right energy, anything is possible.

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