#1May 2022 SHOALS TECHNOLOGIES GROUP, INC. Q1 2022 Investor Presentation shoals#2DISCLAIMER Forward-Looking Statements and Other Information 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, business strategies, technology developments, financing and investment plans, dividend policy, competitive position, industry and regulatory environment, potential growth opportunities and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," "would" or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date of this report. You should read this report with the understanding that our actual future results may be materially different from what we expect. The following is a summary of some of the material risks and uncertainties that could materially adversely affect Shoals Technologies Group, Inc.'s (the "Company's") business, financial condition and results of operations. You should read this summary together with the more detailed description of each risk factor contained in the Company's Annual Report on Form 10-K and, if applicable, any in the latest Form 10-Q: (i) if demand for solar energy projects does not continue to grow or grows at a slower rate than we anticipate, our business will suffer; (ii) existing electric utility industry policies and regulations, and any subsequent changes, may present technical, regulatory and economic barriers to the purchase and use of solar energy systems that may significantly reduce demand for our products or harm our ability to compete; (iii) our industry has historically been cyclical and experienced periodic downturns; (iv) if we fail to, or incur significant costs in order to, obtain, maintain, protect, defend or enforce our intellectual property and other proprietary rights, our business and results of operations could be materially harmed; (v) if we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed; (vi) acquisitions, joint ventures and/or investments, including our most recently announced acquisition of ConnectPV, and the failure to integrate acquired businesses, could disrupt our business and/or dilute or adversely affect the price of our common stock; (vii) if our trademarks and trade names are not adequately protected, we may not be able to build name recognition in our markets of interest, and our competitive position may be harmed; (viii) we may experience delays, disruptions or quality control problems in our manufacturing operations in part due to vendor concentration; (ix) the interruption of the flow of components and materials from international vendors could disrupt our supply chain, including as a result the imposition of additional duties, tariffs and other charges on imports nd exports; (x) changes in the United States trade environment, including the imposition of import tariffs, could adversely affect the amount or timing of our revenue, results of operations or cash flows; (xi) we face risks related to actual or threatened health epidemics, such as the COVID-19 pandemic, and other outbreaks, which could significantly disrupt our manufacturing and operations; (xii) our future growth in the EV charging market is highly dependent on the demand for, and consumers' willingness to adopt, EVs; (xiii) the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy and solar energy specifically could reduce demand for solar energy systems and harm our business; (xiv) a drop in the price of electricity sold may harm our business, financial condition, results of operations and prospects; (xv) an increase in interest rates, or a reduction in the availability of tax equity or project debt capital in the global financial markets could make it difficult for end customers to finance the cost of a solar energy system and could reduce the demand for our products; (xvi) defects or performance problems in our products could result in loss of customers, reputational damage and decreased revenue, and we may face warranty, indemnity and product liability claims arising from defective products; (xvii) our results of operations may fluctuate from quarter to quarter, which could make our future performance difficult to predict and could cause our results of operations for a particular period to fall below expectations, resulting in a decline in the price of our Class A common stock; (xviii) compromises, interruptions or shutdowns of our systems, including those managed by third parties, whether intentional or inadvertent, could lead to delays in our business operations and, if significant or extreme, affect our results of operations; (xix) our planned expansion could subject us to additional business, financial, regulatory and competitive risks; (xx) our indebtedness could adversely affect our financial flexibility and our competitive position; (xxi) our indebtedness may restrict our current and future operations, which could adversely affect our ability to respond to changes in our business and to manage our operations; (xxii) developments in alternative technologies may have a material adverse effect on demand for our offerings; (xxiii) we are a holding company and our principal asset after completion of the reorganization is our interest in Shoals Parent and, accordingly, we are dependent upon Shoals Parent and its consolidated subsidiaries for our results of operations, cash flows and distributions; (xxiv) we are required to make payments under the Tax Receivable Agreement and the amounts of such payments will be significant; (xxv) we will not be reimbursed for any payments made to the beneficiaries under the Tax Receivable Agreement in the event that any purported tax benefits are subsequently disallowed by the IRS; (xxvi) as an emerging growth company within the meaning of the Securities Act, we may utilize certain modified disclosure requirements, and we cannot be certain if these reduced requirements will make our Class A common stock less attractive to investors; (xxvii) provisions in our certificate of incorporation and our bylaws may have the effect of delaying or preventing a change of control or changes in our management; (xxviii) our certificate of incorporation also provides that the Court of Chancery of the State of Delaware will be the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees; (xxix) future sales of our Class A common stock, or the perception that such sales may occur, could depress our Class A common stock price; and (xxx) if we fail to implement and maintain effective internal controls over financial reporting, we may be unable to accurately or timely report our financial condition or results of operations, which may adversely affect our business. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. shoals Ⓒ2022 Shoals Technologies Group 2#3DISCLAIMER Non-GAAP Financial Information This presentation includes Adjusted EBITDA and Adjusted Net Income (which are shown in the reconciliations set forth in the Appendix hereto), which are unaudited financial measures that exclude items and therefore are not in accordance with U.S. generally accepted accounting principles ("GAAP"). These are presented as supplemental measures of the Company's performance. The Company defines Adjusted EBITDA as net income (loss) plus (i) interest expense, net, (ii) income tax expense, (iii) depreciation expense, (iv) amortization of intangibles, (v) payable pursuant to the tax receivable agreement adjustment, (vi) loss on debt repayment, (vii) equity-based compensation, (viii) acquisition-related expenses, (ix) COVID-19 expenses and (x) non-recurring and other expenses. The Company defines Adjusted Net Income as net income (loss) plus (i) amortization of intangibles, (ii) payable pursuant to the tax receivable agreement adjustment, (iii) loss on debt repayment, (iv) amortization of deferred financing costs, (v) equity-based compensation, (vi) acquisition-related expenses, (vii) COVID-19 expenses and (viii) non-recurring and other expenses, all net of applicable income taxes. The Company presents non-GAAP measures because we believe they assist investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. In addition, we use Adjusted EBITDA and Adjusted Net Income: (i) as factors in evaluating management's performance when determining incentive compensation; (ii) to evaluate the effectiveness of our business strategies; and (iii) because our credit agreement uses measures similar to Adjusted EBITDA and Adjusted Net Income a to measure our compliance with certain covenants. The presentation of non-GAAP financial measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with GAAP. Please see the Appendix for the reconciliations of certain non-GAAP financial measures to the comparable GAAP measures Market and Industry Data This presentation also contains information regarding the Company's market and industry that is derived from third-party research and publications. That information may rely upon a number of assumptions and limitations, and the Company has not independently verified its accuracy or completeness. shoals © 2022 Shoals Technologies Group 3#4AGENDA shoals shoals 01 02 03 04 Company Overview Technology and Value Proposition Growth Strategy Financial Overview and Business Update © 2022 Shoals Technologies Group 4#5shoals COMPANY OVERVIEW THE HEAD#6■ ■ ■ Leading Provider of Electrical Balance of System ("EBOS") solutions for solar energy Products used on approximately 50% of all U.S. solar capacity installed in 2021(¹) Significantly larger than next largest competitor Growing rapidly and taking share ⇒ 22% CAGR in revenues from 2019-2021 WHO WE ARE shoals Sell patented products that are less costly to install and more reliable than competing solutions ■ Install faster → fewer labor hours than conventional products ▪ Without licensed electricians → designed to be installed by general labor ■ With greater reliability → fewer connections and pre-terminated "plug-n- play" connectors Focus on selling complete systems rather than individual components Ⓒ2022 Shoals Technologies Group I ■ 73% of revenues from "system solutions" that include multiple products(2) Each system is custom designed for the customer's project (1) Estimated based on 11.1 GWs of products shipped for the year ended December 31, 2021 and an estimate of 20.6 GWs of total utility scale solar installations over the same period per IHS Markit PV Installations Tracker Q1- 2022, March 2022. (2) For the twelve months ended December 31, 2021. Highly consultative sales process that creates 12+ months of visibility 6#7WIRELESS MONITORING FI INLINE FUSES COMBINERS JUNCTION BOXES CABLE ASSEMBLIES DISCONNECTS (1) EBOS products not currently offered by Shoals. OUR PRODUCTS MISSION CRITICAL EBOS COMPONENTS RECOMBINERS JUILLE SPLICE BOX TRANSITION BOX MIK Ⓒ2022 Shoals Technologies Group AC HIGH VOLTAGE(¹) DC FEEDER CABLE(¹) 7#8EBOS IS AN ATTRACTIVE SEGMENT... Must Have Product... ...That's Technology Agnostic... ...With a High Consequence of Failure... ...Where Price Isn't the Focus... ...and Requires a High Level of Customization shoals EBOS is required for every solar project regardless of size, location or technology EBOS works with all types of panels, mounting systems and inverters Failures can have major consequences including lost revenue, equipment damage, fire damage, injury or death EBOS is 6% of total project cost and single components are <1% Each EBOS system is unique to project and requires significant upfront engineering © 2022 Shoals Technologies Group S Creates... Low technology risk Strong preference for incumbent suppliers Low price pressure Barriers to entry 8#9...THAT'S GROWING FASTER THAN THE OVERALL SOLAR MARKET EBOS market has several growth accelerants Primarily ground mount, which is growing faster than the overall market Beneficiary of battery energy storage - both new and retrofits Rip and replace of existing solar fleet EBOS for emerging EV charging market (1) Based on IHS Solar Market Tracker - North America: First Half 2021, February 2021. (2) Based on Wood Mackenzie U.S. Utility Solar-Plus-Storage: The Rise of Hybridization, August 2020. Assumes EBOS for solar + storage requires an additional 3¢ per watt of solar capacity. (3) Assumes 5% of the utility scale solar fleet in operation at the end of 2018 (37.4 GW) is replaced with new EBOS in 2023 at an average cost of 3.5¢ per watt. (4) Based on BloombergNEF Charging Infrastructure Forecast Model (CIFM), January 2021. Assumes none of "Hardware" spending was addressable in 2020 and 30% of "Hardware" spending is addressable in 2023. Note: Assumes constant ASPs. shoals 17% U.S. Solar Market (1) Compound Annual Growth Rate in Addressable Market for EBOS from 2020 to 2023 + 3% Ground Mount Solar(1) © 2022 Shoals Technologies Group + 2% Battery Energy Storage New Projects and Retrofits(2) + 1.5% Rip & Replace of Operating Capacity due to Failures (3) 23% Solar EBOS Market Growth + 3% EV Charging Infrastructure(4) + 26% Total EBOS Market Growth 9#1001 02 03 shoals WE HAVE A SIMPLE MISSION Create products that can be installed by anyone Move assembly from the field to the factory Leverage the factory environment to produce products with superior quality, reliability and safety © 2022 Shoals Technologies Group 10#11REDUCING INSTALLATION COST IS CRITICAL FOR CONTINUED COST REDUCTION IN SOLAR Contribution of Equipment vs. Installation to the Cost of a Solar Energy Project(¹) 9% 17% 74% 2015 Equipment Cost Installation Cost 11% 29% 60% 2020 All Other 70%+ Increase in the contribution of installation to total cost over past 5 years Field labor has become one of the largest contributors to the cost of building a solar energy project... 100 0 Hourly Wages For Field Labor vs. Total Installed Cost of Utility Scale Solar 2010 2011 2012 Avg. Hourly Wages for Construction Workers(2) © 2022 Shoals Technologies Group Total Installed Cost of Solar(3) 2013 2014 2015 2016 2017 2018 ...and hourly wages for construction workers are only rising +20% -78% 2019 (1) Wood Mackenzie H1 2020 U.S. Solar PV System Pricing, June 2020. Based on average construction cost for a 50 MW ground-mounted solar energy project using single-axis trackers in the U.S. Installation cost includes labor, civil and EPC overhead and margin categories. Equipment costs include modules, inverter, mounting system and EBOS categories. (2) Based on Bureau of Labor Statistics, Department of Labor annual mean wage data for 47-0000 Construction and Extraction Occupations. (3) Installed cost of utility-scale solar using single-axis trackers per BloombergNEF 2H 2020 U.S. Renewable Energy Market Outlook, October 2020. shoals 11#12WE FOCUS ON CUSTOM "SYSTEM SOLUTIONS" 27% shoals Revenue Mix For the Year Ended December 31, 2021 shoals technologies group System Solutions Solar Components 73% System Solutions bundle... Proprietary components ▪ Pre-construction design and engineering, including specifying and optimizing the system Proprietary installation methods ▪ Technical support I ■ System Solutions create... High customer engagement through a consultative sales process ■ ■ ■ ■ © 2022 Shoals Technologies Group Revenue visibility → 12 months of lead time on most orders Higher margins Barriers to entry for competitors 12#13Revenues ($mm) PROVEN FINANCIAL PERFORMANCE 2019-2021 CAGR: 22% $144 2019 $176 shoals 2020 $213 2021 Note: See Appendix for reconciliation of non-GAAP measures. Gross Profit ($mm) $44 2019 2019-2021 CAGR: 37% $67 2020 $83 2021 Ⓒ2022 Shoals Technologies Group Adjusted EBITDA ($mm) 2019-2021 CAGR: 31% $61 $37 ill 2019 $63 2020 2021 13#14U.S. solar projects shipped since 2017 that use our products will annually offset...(¹) ■ CO₂: 19.7 million MT NOX: 11,389 MT SO₂: 11,343 MT Particulate: 1,364 MT OUR COMMITMENT TO ESG As a public company, we will report ESG metrics using the SASB framework Greenhouse Gas Emissions Reduction Water Withdrawals Reduction (¹) 14.7 trillion gallons Safety is Our First Priority Proactive safety environment reflected in FY 2020 TRIR of 0.88 me OD shoals Recycling Recycling program includes substantially all waste from manufacturing inputs ISO 9001:2015 Certified to rigorous quality management standards Ⓒ2022 Shoals Technologies Group Shoals Commitment to Responsible Business Principles Respect for our customers, employees and the communities where we operate is core to our culture Mandatory onboarding for all employees to company business principles Strong governance for pay equity across roles, with third party review (1) Annual offsets estimated based on the emissions avoided by generating electricity with solar PV projects with cumulative capacity equivalent to Shoals' shipments of solar products and solutions from January 1, 2017 through December 31, 2020 as follows: (i) CO₂, sulfur dioxide, nitrogen oxides, and particulate matter from 2019 national emission factors in EPA AVERT v3.0 Avoided Emission Factors 2017-2019 (September 2020); (ii) water withdrawals of solar PV compared to the weighted average of median natural gas and coal withdrawals per EIA 2019 data and "Operational Water Consumption and Withdrawal Factors for Electricity Generating Technologies: A Review of Existing Literature," by Jordan Macknick et al., in Environmental Research Letters, Vol. 7, No. 4; December 20, 2012; and (iii) annual average capacity factor of 25.3% provided by EPA AVERT and 1.25 DC to AC conversion factor. shoals 14#15shoals TECHNOLOGY AND VALUE PROPOSITION THE HEAD#16EBOS IS A UNIQUE CATEGORY Cheap to buy... Contribution to Construction Cost ( per watt) 50MW Solar Project Using Trackers 29% Installation (¹) 39% Solar Panels 90.6 11% Other(2) 12% Mounting System 5.6 ¢ 6% EBOS 4% Inverter Represents multiple components ...but expensive to install EBOS Contribution to Installation Cost ( per watt)(¹) 50MW Solar Project Using Trackers 64% All Other Installation © 2022 Shoals Technologies Group 9.2 ¢ O 16.6 ¢ Source: Wood Mackenzie H1 2020 U.S. Solar PV System Pricing, June 2020. Estimate for 50 MW site using single-axis trackers. Figures do not sum to 100% due to rounding. (1) Includes labor, civil, and EPC overhead & margin categories. (2) Includes design & engineering, permitting, logistics and taxes categories. (3) Management estimates based on feedback from Tier 1 EPCs. shoals 36% EBOS Installation (3) 9.2 ¢ 5.6 ¢ The cost of installing an EBOS component can be equal to, or in excess of, the cost of the product itself, which creates opportunities for high value innovation in product design and installation methods = 1.6X Installation costs 1.6x more than the product itself 16#170 . ● ● CONVENTIONAL HOMERUN EBOS SYSTEMS HAVE THREE BIG ISSUES Installation methods that require electricians and special tools Trenching Underground conduit Six step process for every connection Complex wiring architecture shoals • Redundant wiring that wastes time and material Every string requires two wire runs Same distances covered multiple times Multiple intermediate interconnection points (combiner boxes) Result = High installation costs and low reliability © 2022 Shoals Technologies Group Too much work done in the field where it's hard to control quality Every connector fabricated onsite "Crimped" connections prone to faults Systems vulnerable to human error Significant rework 17#18CONVENTIONAL HOMERUN EBOS REQUIRES THOUSANDS OF WIRE RUNS & CONNECTIONS 30 PANELS PER STRING Pos + Neg Wire Run 24 STRINGS PER COMBINER 8 COMBINERS PER INVERTER shoals 12.2 MW INVERTER A 100 MW solar project using conventional homerun EBOS will require approximately 18,000 individual wire runs and 100,000 connections © 2022 Shoals Technologies Group 400 wire runs 2,192 connections for every 2.2 MW inverter! 18#19LAY Lay the wire out to cut the wire to length INSTALLING CONVENTIONAL HOMERUN EBOS REQUIRES LICENSED ELECTRICIANS shoals MEASURE Measure out the appropriate length to expose the copper wire STRIP Strip the cable jacket CRIMP Crimp on the appropriate end (either positive or negative) INSPECT Inspect work for any defects Conventional Homerun EBOS requires a large number of time consuming, manual operations that need to be performed in the field using licensed electricians with special tools © 2022 Shoals Technologies Group INSTALL Install the finished product down the row and into the combiner box 19#20SHOALS' COMBINE-AS-YOU-GO SYSTEM SOLVES THE ISSUES WITH CONVENTIONAL HOMERUN EBOS Big Lead Assembly ("BLA") Proprietary above ground feeder cable eliminates underground conduits and combiner boxes and installs using general labor shoals Interconnect Harness Pre-fabricated wire harnesses with inline fuses eliminate measuring, cutting and crimping in the field and reduce individual wire runs Ⓒ2022 Shoals Technologies Group Plug-n-Play Connectors Simple push connectors speed installation, reduce errors and make the system installable by general labor rather than requiring licensed electricians 20#2101 Can be installed by anyone Plug-n-play push connectors Installable by general labor No electricians required LOWER LABOR RATES AND FEWER LABOR HOURS shoals THE SIX ADVANTAGES OF SHOALS' COMBINE-AS-YOU-GO SYSTEM 02 Enables above-ground installation Hung from mounting structure No trenching or buried conduit No wire fishing NO EXCAVATION 03 Reduces wire runs dramatically Strings combined in the row 67% Fewer string runs 95% Fewer inverter runs FEWER LABOR HOURS AND LESS MATERIAL 04 Eliminates combiner boxes Direct connections between components Inline fusing No complex wiring LOWER LABOR RATES, FEWER LABOR HOURS AND LESS MATERIAL © 2022 Shoals Technologies Group 05 Increases safety and reliability Pre-terminated connectors Factory rather than field fabricated Fewer failure points LESS POTENTIAL FOR FAILURE 06 Reduces maintenance requirements Everything above ground Less potential for installation errors 83% Fewer connection points to maintain LOWER ONGOING MAINTENANCE EXPENSE 21#22WHAT THE INDUSTRY SAYS ABOUT US 43% Lower Installation Cost 20% Lower Material Cost (1) (1) (1) Cost savings and customer feedback based on GRAPH survey of 120 solar industry participants. Figures represent median of responses. shoals Shoals has the better mousetrap... You don't need licensed electricians which is huge - Project Manager, Solar Developer On projects of 100MW, it's a seven-figure swing [versus 99 homerun]. I really can't think of a reason we wouldn't use BLA - Director of Construction, EPC/Developer The BLA is driving costs out and improving reliability - it's the big players that are leading the charge, switching to BLA, and more people seem to be doing it all the time - Vice President, Major Solar EPC 66 I've been to [Shoals'] facility and they're incredible from a manufacturing standpoint... I think they actually exceed six sigma - Engineer, EPC I deal with 100 vendors and Shoals has to be the top 5%. They provide really good technical service - Site Operations, Public Utility 66 I honestly have not seen a single competitor come close to Shoals - Director of Construction, Major EPC and Developer Ⓒ2022 Shoals Technologies Group 99 22#23PATENTS, CONSULTATIVE SALES PROCESS AND PROPRIETARY MANUFACTURING CREATE A COMPETITIVE MOAT Patents limit competitors' ability to develop products than can replicate the benefits that ours provide ● 36 Issued and pending patents Cover prerequisites for labor savings ● shoals Most of what we sell are custom solutions that require a highly consultative sales process Each project is unique Deep subject matter expertise required to design, specify and optimize each system Requires customer-facing applications engineering capabilities Note Parts per week and changeovers are rounded based on data for year ended December 31, 2021. © 2022 Shoals Technologies Group 87 Proprietary manufacturing process that enables high customization with very high throughput ● . ● 750,000+ Parts per week -450 Changeovers per week Specialized manufacturing equipment developed and built in-house 23#24shoals GROWTH STRATEGY THE HEAD#2501 Win the Customer and Take Share with BLA Estimated BLA Share in the U.S. (1) (2) 7% 2017 28% 2020 36% 2021 60%+ Target OUR GROWTH STRATEGY 02 Grow Wallet Share with Complementary Solar Products EBOS Customer "Wallet" (3) 2.1¢ 5.6¢/W 1.5¢ 2.0¢ Current Products Target Products Not Targeted 03 Grow Wallet Size with Battery Storage Products EBOS Spend per Watt 5.6 ¢ Solar(4) +55% 8.6 ¢ Solar + Storage (5) 04 Expand Internationally 2023 Ground Mounted Installations (GW)(6) 24.6 U.S. 4.0 x Larger 99.4 International (ex. China) 05 Introduce Labor Saving Solutions for EV Charging Infrastructure U.S. Investment in EV Charging Infrastructure ($B)(7) 31% CAGR $0.5 2020 $1.2 2023 (1) Based on the total MWs of BLA products shipped in the period compared to the total MWs of ground mounted solar installed over the same period per Wood Mackenzie US Solar Capacity Data: Q2 2022. (2) For the years ended December 31, 2017, 2020 and 2021. (3) Based on Wood Mackenzie H1 2020 U.S. Solar PV System Pricing, June 2020, and management estimates. Estimate for 50 MW site using single-axis trackers. (4) Wood Mackenzie H1 2020 U.S. Solar PV System Pricing, June 2020. Estimate based on a 50 MW solar energy project with single-axis trackers. (5) NREL 2018 U.S. Utility-Scale Photovoltaics-Plus-Energy Storage System Costs Benchmark, November 2018. Based on average of NREL estimates for EBOS cost for two- and four-hour duration 60 MW battery storage systems. Assumes 1 MW of battery capacity for every 4 MW of solar capacity. Based on MWs of ground mounted solar installed in 2023 per IHS Markit PV Installations Tracker Q4-2020, January 2021. (6) (7) Estimated annual public and commercial EV charging infrastructure investment in the U.S. as per BloombergNEF Charging Infrastructure Forecast Model (CIFM), June 2021. shoals © 2022 Shoals Technologies Group 25#26BLA CONTINUES TO GAIN SHARE At IPO (January 2021) Converted 4 In Transition 10 Prospects 11 shoals 3 +60 18 5 48 EPCs and Developers Today Converted 25 In Transition 15 Prospects 59 H H ■ ■ Highlights More than six-fold increase in number of EPC and developer customers since IPO 7 customers converted to BLA in Q1 2022 representing approximately 2 GWdc 16% increase in BLA funnel since Q4 2021 Secured 3 international BLA orders in Q1 2022 Ⓒ2022 Shoals Technologies Group 26#27NEW PRODUCT INTRODUCTIONS ARE ON SCHEDULE 2022 CONFIDENTIAL CONFIDENTIAL . . Wire Management Safely secures cabling Replaces "zip ties" that have a high rate of failure High margin product category IV Curve Benchmarking Plug-n-play string-level monitoring (current, temp, IV curve trace, incline) • Real-time data at thousands of points across the system • Cuts truck rolls and facilitates targeted maintenance High Capacity Plug-n-play Wire Harnesses • Extends plug-n-play to high capacity feeder cable category • Creates additional labor savings versus current products and methods • Enables greater site design flexibility "BLA 2.0" • Incorporates significant portion of EBOS content not currently addressed • Comprehensive solution that takes more labor out of the field • Potential to substantially increase customer allet sha shoals Q1 Complete Complete Complete Complete Complete Q2 Complete 2021 Complete Complete Product Engineering © 2022 Shoals Technologies Group Q3 Q4 Q1 Wire-Panel Interface Base Model ■ Validation & Certification Q2 Wire-Wire Interface Q3 Wire-Structure Interface High Current Model Commercial Launch Q4 High Voltage Model * Target First Sales 27#28Rapidly Growing Demand Spending on Public & Commercial EV Charging Infrastructure ($ in millions)(¹) $589 EV CHARGING IS AN ATTRACTIVE MARKET FOR SHOALS 2021 $879 44% Hardware il-O $1,196 2022 shoals 2023 Spend on EV charging stations is forecast to double from 2021 to 2023 High Labor Content Public & Commercial EV Charging Infrastructure % of spend by cost category(¹) (1) Based on BloombergNEF Charging Infrastructure Forecast Model (CIFM 2.0.1), June 2021. 56% Installation More than half of the cost of an EV charging station is labor © 2022 Shoals Technologies Group 1 1 ■ Inefficient Means & Methods Duplicative homeruns Expensive trenching / boring Wire run in underground conduit Fabrication of components in the field Complex interconnection of components Skilled labor and special tools Time consuming and costly means and methods that require skilled labor 28#29CONVENTIONAL EV CHARGING SYSTEMS Disconnect Switch phot . Transformer Distribution Panel Boards (Breakers) 1 Multiple equipment vendors Components arrive on site at different times Complex interconnections shoals Commercial EV chargers require multiple components, often from different suppliers Dispensers Every dispenser is individually connected to the distribution panel with three to four homeruns © 2022 Shoals Technologies Group 3-4 Individual Wire Runs from Each Dispenser to the distribution panel Wire runs fished through conduit buried in trenches Wire runs are made through underground conduit that requires trenching across the site 29#3001 Fuel Power Center ■ SHOALS EV CHARGING SYSTEM SOLUTIONS ■ fuel shoals Shoals eMobility charging product focuses on four product families Prefabricated plug-n-play EV power center All components installed in the factory Modular Interlocking system Reduce site disruption and overall time on site shoals 02 Raceways · Above-ground cable raceway that eliminates the need for trenching Compatible with both conventional cabling and EV-BLA B Reduces cost of deployment and time on site by up to 40% İHLİLİN Tuis I ■ m I 03 EV-BLA Patented trunk bus solution similar to solar BLA B Ⓒ2022 Shoals Technologies Group ■ ■ 04 Quick Connect Bases for Chargers Prefabricated skidded dispenser with up to four Level 2 charge points Flexible choice of charger OEM Designed to install at the intersection of four parking spots Reduces placement (fewer pads), cabling and interconnection costs Ideal solution for fleets, retail, office and MUD ■ Eliminates individual homeruns from each dispenser. Reduces wire runs by up to 75% Capable of above-ground installation Utilizes plug-n-play connectors for rapid deployment Estimated total deployed cost reduction of 30-40% Targeting 20-30% reduction in installed cost versus conventional solutions 30#31EV BUSINESS MARKET ENTRY TIMELINE Complete Market Entry Plan Phase I Products: Prototypes Complete and Testing in Factory Phase I Products: Field Deployed Prototypes Phase II Products: Products Designed and Prototyped Phase II Products: Field Deployed Prototypes First Sales Phase I Products: Production Ramp Up Phase II Products: Production Ramp Up Full Market Launch shoals Q1 2021 Q2 2021 Innovation Center Unveiled © 2022 Shoals Technologies Group Q3 2021 Q4 2021 Q1 2022 Q2 2022 31#32EV BUSINESS POTENTIAL Number of Addressable Chargers in the U.S. (Points)(¹) Points Added in the U.S. During 2022 Through 2025(1) Average Shoals Addressable Spend per Point(²) Implied 2022-2025 U.S. Market Opportunity YE2021 186,277 YE2025 717,489 531,212 $5,000 $2.7B Following announcements by the Biden Administration and automakers of new incentives for EVs and EV Infrastructure, BNEF has more than doubled their estimate for 2021 to 2025 charge point additions (3) 233,273 186,277 489,697 January 2021 Forecast (4) 717,489 2021 2025 Addressable U.S. Chargers as of Year End June 2021 Forecast(1) EV Charging solutions can be a significant business for Shoals (1) Based on BloombergNEF Charging Infrastructure Forecast Model (CIFM 2.0.1), June 2021. Assumes all U.S. chargers except Home chargers are addressable by Shoals equipment (2) Shoals management estimate. (3) Based on BloombergNEF Charging Infrastructure Forecast Model (CIFM 1.0.1), January 2021 of 256,424 points added in the U.S. during 2022 through 2025, compared with 531,212 points added in the U.S. during 2022 through 2025 in BloombergNEF Charging Infrastructure Forecast Model (CIFM 2.0.1), June 2021. (4) Based on BloombergNEF Charging Infrastructure Forecast Model (CIFM 1.0.1), January 2021. Assumes all U.S. chargers except Home chargers are addressable by Shoals equipment. shoals © 2022 Shoals Technologies Group 32#33shoals SPOR FINANCIAL OVERVIEW AND BUSINESS UPDATE#34SIMPLE MODEL THAT DELIVERS STRONG FINANCIAL RESULTS Core Objectives Grow faster than the market Deliver 30%+ EBITDA margins Minimize capital intensity shoals . @ 0 Tactics Take market share with disruptive products Locate manufacturing in low-cost regions Use automation to reduce labor content Leverage growing volumes to reduce materials costs Tightly control factory overhead and SG&A Customize manufacturing equipment in-house rather than purchase custom-built machines © 2022 Shoals Technologies Group Results 22% CAGR in revenues from 2019-2021 ~400 bps increase in EBITDA margins from 2019-2021 Direct labor <19% of COGS ✓ Factory overhead <7% of COGS ✓ SG&A <15% of revenues $9.1 million of cumulative capex from 2019-2021 (~1.7% of sales over period) 34#35HIGH REVENUE VISIBILITY DRIVEN BY LONG PROJECT LEAD TIMES... 14 ● Project Identified Shoals receives preliminary design drawings Project Development 6 months EPC advances preliminary engineering and design Shoals prepares preliminary design, layout, and pricing shoals ● EPC Award Shoals receives verbal award Pre-Construction 3 months EPC completes final design • Shoals completes final design, layout, and pricing 影 ● © 2022 Shoals Technologies Group ● Shoals Purchase Order Shoals receives binding purchase order Pre-EBOS Construction 3 months EPC completes pre-EBOS construction activities Shoals production lead time ● EBOS Delivery 2-3 months The procurement process typically gives us 12+ months of visibility on demand and many customers give us long-term forecasts with their needs, further enhancing our visibility Shoals delivers system 35#36ORDER BOOK CONTINUES TO GROW First quarter quotes up [162]% year- over-year Backlog and awarded orders up [67]% from first quarter 2021 (1) Backlog defined as signed purchase orders and take or pay contracts with volume commitments. Awarded orders defined as orders where we are in the process of documenting a contract but for which a contract has not yet been signed. shoals Backlog and Awarded Orders as of Mar 31st ($mm)(¹) © 2022 Shoals Technologies Group $181 2021 +67% $302 2022 36#37THREE SIMPLE REASONS TO INVEST IN SHOALS Gain Exposure to the Largest Part of the Solar Market... Ground mount solar is the fastest growing source of new generation in the U.S.(¹) Utility-scale market is over 6X the size of residential market (2) EBOS is required for every project EBOS is less exposed to price pressure than other equipment categories لمة ...With a Company that Can Grow Faster Than the Market... "Category killer product" that's gaining share from conventional solutions ✓ Increasing wallet share with new products Growing wallet size with energy storage Large overseas growth opportunity - international market is 4.0X size of U.S.(3) Significant additional upside from EV charging products (1) Comparison of generation growth based on FERC data for new generation with capacities in excess of 1 MW placed in service between 2015 and 2020. (2) IHS Markit Solar Market Tracker - North America: First Half 2021. (3) IHS Markit PV Installations Tracker Q2-2021, June 2021. Based on 2023 estimated market sizes. International market excludes China. (4) Based on historical results for 2019, 2020 and 2021. shoals © 2022 Shoals Technologies Group $ ...And Deliver Strong Returns for Shareholders 20%+ top line growth (4) -30% EBITDA Margins(4) Strong free cash flow generation Self-funding - no new equity capital required to grow the business 37#38shoals APPENDIX THE HEAD#39RECONCILIATION OF NON-GAAP MEASURES 1234 Net Income (loss) Interest expense, net Income tax expense Depreciation expense Amortization of intangibles Tax receivable agreement liability adjustment Loss on debt repayment Equity-based compensation Acquisition-related expenses COVID-19 expenses (1) Non-recurring and other expenses Adjusted EBITDA (2) Net income (loss) attributable to Shoals Technologies Group, Inc. Net income (loss) impact from pro forma conversion of Class B common stock to Class A (3) common stock (4) Adjustment to the provision for income tax Tax effected net income (loss) Amortization of intangibles Amortization of deferred financing costs Tax receivable agreeement liability adjustment Loss on debt repayment Equity-based compensation Acquisition-related expenses (1) COVID-19 expenses Non-recurring and other expenses Tax impact of adjustments Adjusted Net Income (5) (2) 3 Months Ended March 31, 2022 2021 4,649 3,836 1,522 424 2,270 3,831 16,532 2,640 2,009 3 Months Ended March 31, 2022 2021 (475) 4,174 2,270 276 3,831 (8,334) 3,709 (1,475) 405 1,996 (1,508) 9,043 15,990 1,392 55 339 14,077 (2,859) (5,475) 1,134 (7,200) 1,996 370 15,990 1,392 55 339 (4,171) 8,771 Represents costs incurred as a direct impact from the COVID-19 pandemic, disinfecting and reconfiguration of facilities, medical professionals to conduct daily screenings of employees, premium pay during the pandemic to hourly workers and direct legal costs associated with the pandemic. Represents certain costs associated with non-recurring professional services, Oaktree's expenses and other costs. Reflects net income (loss) to Class A common shares from pro forma exchange of corresponding shares of our Class B common shares held by our founder and management. Shoals Technologies Group, Inc. will be subject to U.S. Federal income taxes, in addition to state and local taxes with respect to its allocable share of any net taxable income of Shoals Parent, LLC. The adjustment to the provision for income tax reflects the effective tax rates below, assuming Shoals Technologies Group, Inc. owns 100% of the units in Shoals Parent, LLC. Represents the estimated tax impact of all Adjusted Net Income add-backs, excluding those which represent permanent differences between book versus tax. shoals Ⓒ2022 Shoals Technologies Group 39