Shoals Results Presentation Deck

01 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

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