Meyer Burger Investor Presentation

MODULE PERFORMANCE ENABLES LOWER LCOE FOR UTILITY CUSTOMERS AND PRICE PREMIUM FOR MB Utility segment - total system cost, example 100 MWp U.S. [EUR m] Benchmark system (PERC module) 0.31 Meyer Burger HJT/SWCT system +0.08 EUR/Wp module ASP premium for Meyer Burger1 0.39 . MEYER BURGER 80.7 75.3 2.3 10.1 38.9 Module 31.1 31.1 · • Meyer Burger provides considerable end-customer benefit, reducing LCOE through: 1. Higher efficiency, reducing BOS cost 2. Better high-temperature energy yield. 3. Lower lifetime degradation 4. Better bifaciality (yield on backside). 5. Better angular response To reward better performance, customers are willing to pay higher module price – value pool is determined such that LCOE savings are offset by module price premium Around 20-25% of value pool to be ceded to end customer to incentivize purchase ~20-25% of value Performance pricing enabled by pool ceded to BOS2 44.2 BOS lever³ • Higher energy yield 4 to achieve same LCOE System cost Benchmark Value pool customer to incentivize purchase 41.85 Customer System cost share Assumptions: System – 100 MW p; Year - 2020; 1) Module ASPs include 20% Section 201 import tariff; For some time after market introduction, business plan anticipates discounts down to PERC level until bankability and market acceptance of performance gains is fully established; 2) Balance-of-system; 3) BOS lever: Higher module power requires less modules for the same area leading to e.g., less cables, mounting structures, installation, etc.; 4) Improved performance due to e.g., lower temperature coefficient and lower degradation translate into more energy generation over lifetime; 5) BOS cost is reduced vs. benchmark system BOS cost because of BOS lever 10 O Meyer Burger

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