Shoals Results Presentation Deck

...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

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