Shoals Results Presentation Deck

Rapidly Growing Demand Spending on Public & Commercial EV Charging Infrastructure ($ in millions)(¹) $789 ATTRACTIVE 2021 $2,582 Hardware .II-O $2,286 2022 shoals EV CHARGING IS AN 2023 Spend on EV charging stations is forecast to more than triple from 2021 to 2023 MARKET FOR SHOALS High Labor Content Public & Commercial EV Charging Infrastructure % of spend by cost category(¹) 44% 56% Installation and O&M More than half of the cost of an EV charging station is labor 1 © 2022 Shoals Technologies Group 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 (1) Estimated annual public and commercial EV charging infrastructure investment in the U.S. for hardware, installation and O&M as per BloombergNEF Charging Infrastructure Forecast Model (CIFM), June 2022. Time consuming and costly means and methods that require skilled labor 28

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