Investor Presentation

All Scenarios Require Replacements by 2100 里 90 80 70 Effective Capacity: No Replacements Capacity Target PV_ICE Efficiency Lifetime Material Circularity 60 50 40 PERC SHJ TOPCon Low Quality Long-Lived High Eff Circular High Eff + Long-life Long-Life + Recycling Effective Capacity [TW] 30 Recycled-Si + Long-life Circular Long-life 20 Circular High Eff 10 0 2000 2010 2020 2030 2040 2050 2060 2070 2080 2090 2100 Short lifetimes (15 yrs) do not meet capacity targets without replacements pre-2050 Long Lifetime maintains capacity COLORADO SCHOOL OF MINES ONREL | 12

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