Meyer Burger Investor Presentation

COSTS OF GOODS SOLD FOR HJT/ SWCT® TECHNOLOGY MEYER BURGER MEYER BURGER'S ADVANCED HJT TECHNOLOGY: 35% COST ADVANTAGE AND SUBSTANTIALLY HIGHER GROSS MARGIN EXPECTED IN CELL PRODUCTION VS HJT COMPETITION STEP COST-COGS INCL. D&A IN EURCT/WP FOR 2020 -21% Fraunhofer 30 28.4 Module ~9.6 ISE 22.5 COST ADVANTAGES -35% 10.3 Cell ~13.1 OVER HJT COMPETITORS CONFIRMED BY FRAUNHOFER 25 5.9 Wafer ~5.8 6.3 HJT MBT HJT/SWCT® 20 20 competition 334W Wafer Size: Cell eff.: M2 23.0% 388W M6 24.0% > Two key features differentiating Meyer Burger's technology from mainstream HJT competition 35% lower cell production cost and overall ~20% cost advantage ~50W higher output per module (10 power classes) enabling higher ASPS > Reasons for significant cell cost advantage: Proprietary SWCT® enables significantly lower silver paste consumption MBT has collected significant know-how compared to competitors, allowing MBT to have higher production yield and to use larger wafers (M6 versus competitors' M2) MBT's operational excellence, developed through its own HJT pilot line, leads to lower use of consumables, lower unscheduled down times and more efficient line utilization Note: Wafer cost for HJT competition updated to April 2020; 1) In selected markets also used in utility segment Source: Meyer Burger business plan, PV Info Link Report, Dec. 2019 HJT COGS INCL. D&A PER SEGMENT IN EURCT./WP Bi-facial glass-glass modules (utility) Mono-facial glass-backsheet (residential¹) 0 2020E T 2021E 2022E 2023E 2024E 2025E 2026E 2027E > COGS are for market-ready HJT/SWCT® technology of Meyer Burger (see 'Phase I' in R&D roadmap) based in Germany › COGS reductions are based on wafer price reduction, cell and module BOM reduction, improved processing on e.g., silver consumption due to economies of scale, utilization of next generation cell equipment and improved local supply chain O Meyer Burger

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