Meyer Burger Investor Presentation

HJT/SWCT WITH A LEAD OVER CONVENTIONAL PV MANUFACTURERS - A FRAUNHOFER STUDY MEYER BURGER "MEYER BURGER HAS A LEAD OF AROUND 3 YEARS OVER MANUFACTURERS WHO PRODUCE CLASSIC SOLAR MODULES IN TERMS OF MODULE EFFICIENCY (CELL EFFICIENCY AND MODULE LOSSES)" - FRAUNHOFER REPORT 05/2020 GLOBAL CELL/MODULE PRODUCTION › Trend towards continued increased output and efficiency of solar modules worldwide with manufacturers choosing: (i) monocrystalline p-type silicon wafer, (ii) increase in wafer area, (iii) cell division, (iv) PERC and (v) wire connection > HJT/SWCTⓇ on par with Sunpower's A-Series in terms of module efficiency and yield, while being superior to all other cell/module combinations of competitors > HJT already reaches cell efficiencies of 23.8% superior to PERC with currently 22.3%, with HJT constantly being developed further, while PERC enhancement has slowed recently HJT/SWCT® PROOF OF CONCEPT AND SCALABILITY › Meyer Burger demonstrated successful mass production of HJT/SWCT® in co-operation with REC (100MW & 600MW) of 370W modules (21.2% module, implied 23.8% cell efficiency) > > Cell efficiency of up to 24.5% possible at 1GW production › Competitive production cost for HJT/ SWCTⓇ already today with further cost reduction potential Pursuant to Fraunhofer estimates, the higher module efficiency and higher yield of HJT/SWCTⓇ allow a price premium in the market › Bifaciality >90% proves superiority above all other module types, providing an additional positive effect on price premium for the power plant segment MEYER BURGER'S DECISIVE ADVANTAGE > SWCT® Meyer Burger has a wire connection that reduces module losses similar to half-cells and multiwire interconnection used in PERC › Meyer Burger's roadmap to further increase cell and module efficiency is plausible and realistic. Concepts as "negative gap", "HJT-IBC/SWCT® and "HJT/Perovskite/SWCTⓇ lead to the expectation of a further above average development of module efficiency and reduction of manufacturing costs according to Fraunhofer > Knowhow of HJT-IBC from CSEM and HJT/Perovskite by Oxford PV provide very useful additions to secure the future R&D roadmap according to Fraunhofer Fraunhofer ISE HJT/SWCT® ADVANTAGES AND COMPETITION > SWCTⓇ while being more expensive, has decisive advantages: (i) high positioning tolerance, (ii) low temperature process (suitable for HJT, HJT/perovskite), (iii) processing of very thin wafers (cost reduction), (iv) high, (v) easy repair possibility before lamination › Meyer Burger holds patents on a specific form of HJT and SWCT® equipment; therefore HJT can be produced by other manufacturers, although mostly at significantly lower quality regarding cell and module efficiency and higher cost > Likely that classic solder-wire connection will also work on HJT, circumventing SWCT®, but at higher cost and lower technology readiness; manufacturers also provide adhesive stringers as alternative, which is inferior to SWCT® in terms of module efficiency › Meyer Burger faces numerous competitors who offer equipment for HJT cell production, however no alternative supplier of SWCT exists Source: Fraunhofer 2020 O Meyer Burger

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