Green Hydrogen Work Progress Update
Cautionary Note on Forward Looking Statements
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 projections regarding its future financial and market outlook; Plug's ability to execute on its strategies to build an
end-to-end green hydrogen ecosystem; Plug's ability to attain certain cost-cutting measures; Plug's expectation that substantial growth will continue and its expectation regarding the
underlying drivers of the company's growth; Plug's expectation regarding 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; Plug's ability to realize growth across multiple business units; the anticipated benefits, capacity, capabilities, and output of Plug's
green hydrogen plant located in Georgia, including competitive advantages in Plug's plant development and customer traction across its business; Plug's ability to realize its expansion plans
that are underway in the Georgia plant; the expectation that the Georgia plant will reduce Plug's fuel margin; Plug's ability to meet its anticipated hydrogen network and outputs by 2025; the
expectation that Plug's green hydrogen network will produce hydrogen at a cost that is one-third of third-party purchases and the forecasted amount of the annual gross margin
improvement upon sourcing all hydrogen internally; Plug's ability to continue to expand manufacturing capabilities and improve supply chain issues; Plug's ability to continue to deliver on
expanding its green hydrogen network and capacity; and the scalability of Plug's 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, ensuring timely construction and completion of hydrogen generation projects, which may be delayed due to the Company's inexperience with
these project types, supply chain issues, and federal, state, and local permitting and regulatory issues 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 Reports on Form 10-Q for
the quarters ended March 31, 2023 and June 30, 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.
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