Investor Presentaiton

Forward-Looking Statements & Disclaimer This presentation will include "forward-looking statements" about Plug Power Inc. ("Plug"). These forward-looking statements will contain projections of Plug's future results of operations, or of Plug's business or financial position, or other forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based upon the current expectations, estimates, forecasts and projections as well as the current beliefs and assumptions of Plug's management and are subject to significant risks and uncertainties and include, but are not limited to, statements about: Plug's ability to achieve profitability; Plug's projections regarding its future financial and market outlook, including its ability to achieve forecasted revenue, gross margin, annual sales, operating income, operating cash flows and OPEX leverage targets; Plug's expectation that substantial growth will continue and its expectation regarding the underlying drivers of the company's growth; Plug's expectation regarding the total addressable market and sales and market opportunities; Plug's belief that its growth strategies will have the intended benefits; Plug's belief that hydrogen investments will accelerate revenue growth and the anticipated effect of revenue on the compound annual growth rate; the expected benefits of Plug's planned equipment improvements, service improvements, and fuel improvements; Plug's ability to realize growth across multiple business units, including electrolyzers, stationary power, on-road, green hydrogen, and material handling, and its expectation that its applications business will grow by 45% year-over-year in 2023; Plug's ability to obtain financing for its hydrogen plants; the ability of joint venture partners to complement Plug's growth; Plug's expectation that favorable government policy initiatives will continue; Plug's expectation regarding its liquidity and potential for investments; Plug's expectation joint effort with Energy Vault will accelerate the deployment of energy storage solutions; the expected timing and forecasts related to its key performance indicators; the anticipated opportunities for financing and investment, including potential projects; the anticipated benefits, capacity, capabilities, and output of Plug's green hydrogen plans, including those located in Georgia and Finland; the potential for global adoption of hydrogen power and Plug's electrolyzer products; Plug's 2030 projections with respect to, among other things: hydrogen output, demand and use of its HyVia vans, stationary products, electrolyzers, fuel cell powered forklift trucks, and manufacturing capabilities; Plug's ability to meet its anticipated hydrogen outputs by 2025, 2026, 2027, 2028 and 2030; the expansion of Plug's hydrogen network, including its European and United States expansion, including Plug's ability to build the first kiloton-scale plant by 2030; Plug's ability to meet its key objectives outlined for its electrolyzer, cryogenic, and green hydrogen plant businesses; Plug's expectation that it can grow its revenue and expand margin in 2023 and 2024; the projected growth in Plug's applications, material handling, and stationary power businesses; the expected addition of pedestal customers in 2023; the expected timing and outcome of Plug's yard tractor pilot program and green EV charge pilot program; Plug's ability to capitalize on demand from electric vehicle and new home power generation; Plug's expectation with respect to the output opportunities for each of its hydrogen plants; Plug's expectation with respect to ELX scaling; Plug's ability to deliver each of its supply chain goals and execute its supply chain improvement strategy; Plug's ability to continue to deliver on expanding its green hydrogen network and capacity; and the scalability of Plug's products, services, and hydrogen plants. You can identify the forward-looking statements by forward-looking words such as "anticipate," "believe," "could," "continue," "estimate," "expect," "forecast," "intend," "may," "should," "will," "would," "plan," "projected," "target" or the negative of such words or other similar words or phrases. Plug believes that it is important to communicate its future expectations to investors. Such statements should not be read as a guarantee of future performance or results. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements, including that Plug continues to incur losses and might never achieve or maintain profitability, that Plug will need to raise additional capital to fund its operations and such capital may not be available to the company, global economic uncertainty, including inflationary pressures, fluctuating interest rates, bank failure, and supply chain disruptions, and that Plug's lack of extensive experience in manufacturing and marketing of certain of its products may impact its ability to manufacture and market products on a profitable and large-scale commercial basis. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug's public filings with the Securities and Exchange Commission (the "SEC"), including the "Risk Factors" section of Plug's Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof and Plug undertakes no obligation to update such statements as a result of new information. Financial projections which are included in this presentation are based on assumptions and analyses made by management based on its experience and perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. There is no assurance that the financial projections will be realized. Information provided in this presentation is solely as of the date it is provided and may change or be modified at any time without notice. Market data and other statistical information used throughout this presentation are generally based on independent industry publications, reports by market research firms or other published independent sources. In addition, certain information contained herein has been obtained from sources prepared by other parties or by management. In addition, Plug does not undertake any responsibility for the accuracy of the information provided by Energy Vault and none of Plug and its representatives shall have any liability with respect to the information provided by Energy Vault in this presentation. plug 2