Shoals Results Presentation Deck

Rapidly 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

View entire presentation