Enphase Energy, Inc. · NASDAQ:ENPH
Enphase Energy — Investor Presentation (May 2025)
29 slides from Enphase Energy's investor presentation, May 14, 2025
Slide 1: CEO Presentation
S ENPHASE. CEO Presentation Enphase Energy, Inc. May 14, 2025
Slide 2: Safe harbor
Safe harbor Use of Forward-Looking Statements This presentation contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities LitigationReform Act of 1995, including, but not limited to, Enphase Energy's financial performance; its business strategies, incl
Slide 3: Our Business
Our Business S ENPHASE
Slide 4: A leading energy technology company in the world
A leading energy technology company in the world a wy S ENPHASE Founded in 2006, with 2,850 employees as of March 31,2025 Headquartered in Fremont, California with offices globally Our customersare distributors, installers and homeowners 2,034 installers in the Enphase Installer Network (EIN) as of
Slide 5: $800.0 55.0% $700.0 50.0% $600.0 45.0% $500.0 40.0% $400.0 5.0% $300.0 $200.0 30.0% $100.0
$800.0 55.0% $700.0 50.0% $600.0 45.0% $500.0 40.0% $400.0 35.0% $300.0 $200.0 30.0% $100.0 25.0% $0.0 20.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 35.0% 35.0% 30.0% 30.0% 25.0% 25.0% 20.0% 15.0% 20.0% 10.0% 15.0% 5.0% 10.0% 0.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 6: Solar Storage Grid
Solar Storage Grid Load control Generator Heat pump AC EV
Slide 7: The power of semiconductors, software, and Ensemble technology
The power of semiconductors, software, and Ensemble technology High quality Safety Fewer components No high-voltage DC Reduced thermals LFP battery chemistry! Exceptional Supply chain value efficiency Higher efficiency Single hardware platform Al-based HEMS* software-defined SKUs Great customer expe
Slide 8: Operational excellence
Operational excellence Customer experience Laser focus on quality and customer service 8x’ 500 dppm Better than Reliability target for M-series microinverters 77 <1 min Worldwide NPS Wait time target sto actual failure rate results of IQ™ and M215™ microinverters as of March 31, 2025, o ENPHASE S re
Slide 9: Our resilient business model
Our resilient business model CAPEX lite OPEX efficient AMER: Brazil, Canada, Mexico, U.S. INDIA APAC: Australia, China, Indonesia, Japan, Philippines, Thailand EMEA: Austria, Belgium, France, Germany, Hungary, Italy, the Netherlands, Poland, Portugal, South Africa, Spain, ‘Sweden Switzerland, U.K. o
Slide 10: Global supply chain
Global supply chain Microinverters * Currently, 4 manufacturing sites with capacity at 7.25M micros/Qtr. * Leveraging Inflation Reduction Act (IRA) to bring high-tech manufacturing and jobs to the U.S. * Majority of our global microinverter shipments are now from the U.S. Batteries * 2cell pack supp
Slide 11: Advancing a sustainable future for all
Advancing a sustainable future for all & 72 million . . metric tons ot COze prevented from Reducing our carbon footprint of clean energy entering the atmosphere, enough to * Achieved 13.4% reduction in Scope 2 emissions in 2024, compared to 2023 Production power 14.9 million homes with energy * Oper
Slide 12: Our Strategy
Our Strategy Build best-in-class home energy systems and deliver themto | — homeowners through our installer —
Slide 13: The Enphase Energy System
The Enphase Energy System ENPHASE CLOUD 1Q MICROINVERTERS 1Q EV CHARGER ENPHASE APP iy COMBINER Z UTILITY METER ne A 19 SYSTEM CONTROLLER uy é ANI | ‘ ENPHASE 1Q BATTERY © 2025 Enphase Energy, Inc. 13
Slide 14: S ENPHASE
S ENPHASE
Slide 15: IQ8 Microinverter
108™ Microinverter * World’s first grid-forming microinverter * Upto 384W AC Power handling 14A panel current * Residential market - shipping to 58 countries worldwide ENPHASE
Slide 16: IQ8P Microinverter
IQ8P™ Microinverter * Upto 480W AC Power * Small commercial market North America, Latin America and the Caribbean, Europe, Asia g o * Residential market Brazil, Mexico, South Africa, India, Spain, France, Poland, Philippines, Thailand, Columbia, Panama, Costa Rica, Vietnam, 13 Caribbean countries, M
Slide 17: IQ Battery
1Q® Battery 1Q® Battery 10 and 3 (1st and 2"4 Gen) * Shipping to U.S., Puerto Rico, Canada, Mexico, Australia, New Zealand, Germany, Belgium, U.K., Italy, Austria, France, the Netherlands, Spain, Portugal, Luxembourg, Finland, Switzerland, Sweden, Denmark, Greece * One-stop-shop, reliable, scalable,
Slide 18: IQ Battery 10C
1IQ® Battery 10C 4th generation battery makes backup seamless * 10 kWh battery capacity; 7 kW of continuous power * Neutral-forming, No lQ® System Controller required * 30% more energy density * 62% less wall space than prior generation + LFP Chemistry, No dangerous high-voltage DC * Paired with |Q®
Slide 19: IQ Balcony Solar System
1Q® Balcony Solar System Watch the video here Shipping IO Balcony Solar Kit (two IQ8HC Microinverters, one Gateway, and IQ Cables) to Germany and Belgium Kit is bundled with panels and racking and sold by retailers. The system can be scaled up to seven panels Balcony solar systems are popular in Eur
Slide 20: IQ PowerPack 1500
1Q® PowerPack 1500 Energy security for the home and Energy-On-The-Go * 1,500 Wh, LFP Storage Capacity, 2500 cycles * 1,500 W Continuous power with 2X peak power * Smart, Connected Wi-Fi, BLE, Cellular plus Enlighten App (iOS, Android) * 120V AC, Solar and 12V DC Charges via 3 sources of power * AAC,
Slide 21: IQ EV Charger
IQ® EV Charger EVs in U.S. growing at CAGR of 34%' Shipping to U.S. and Canada Wi-Fi-enabled and includes smart control and monitoring capabilities Integrates into Enphase’s solar and battery system to help homeowners maximize electricity cost savings Shipping the CS-100 EV Charger for customers wit
Slide 22: Bi-directional EV Charger (V2X)
Bi-directional EV Charger (V2X) * Vehicle-to-home (V2H) and vehicle-to-grid (V2G) functionality and Green Charging + Seamlessly integrates into Enphase home energy systems with grid-forming l|Q10 Microinverters and Ensemble r technology + Enables homeowners to manage their solar, battery storage, an
Slide 23: IQ Energy Management
1Q® Energy Management IQ ENERGY ROUTER+ CONNECTIVITY AND CONTROL * Launched the lO® Energy Router™ family of devices SENPHASE in Germany, Austria, Switzerland, and the Netherlands + Enables Enphase solar and battery systems to work ee with third-party EV chargers and heat pumps * Maximizing self-con
Slide 24: The Enphase Installer Platform
The Enphase Installer Platform * Reduce installation soft costs * Integrate all services for installers * Focus on ease of doing business for installers ENPHASE Lead Management Provide leads to Installers with the SolarLeadFactory acquisition Design and Proposal Solargraf makes state-of-the-art desi
Slide 25: Just the beginning
Just the beginning Great Technology Over 400 patents globally Innovative Products Home Energy Systems and installer platform Massive Market $25.4 Billion' SAM by 2025 2 = ‘S) ENPHASE. 1 Wood Mackenzie, S&P Global , LCP Delta, and Enphase intemal dat@'@SI6f 2024 =
Slide 26: W, ~ Yi eA
W, ~ Yi eA nS OS ENPHASE. ~-—_
Slide 27: GAAP to Non-GAAP reconciliation
GAAP to Non- GAAP reconciliation $in MUSD Gross profit (GAAP) Stock-based compensation Acquisition related amortization Gross profit (Non-GAAP) Gross margin (GAAP) Stock-based compensation Acquisition related amortization Gross margin (Non-GAAP) Operating expenses (GAAP) Stock-based compensation Acq
Slide 28: GAAP to Non-GAAP reconciliation (continued)
GAAP to Non-GAAP reconciliation (continued) FY'24 $in MUSD ACT Net income (GAAP) $102.7 Stock-based compensation 21.0 Acquisition related expenses and 20.4 amortization ° Restructuring and asset impairment charges 13.2 Non-cash interest expense 8.6 Non-GAAP income tax adjustment (34.9) Net income (N
Slide 29: Trademarks and copyright notice
© ENPHASE. © 2025 Enphase Energy. Allrights reserved. Enphase, the Enphase logo, Ensemble, 10, |Q7, 107+, 107%, |O7A, |Q8, IOB+, IBA, IABH, IBM, IO8P, IQ Balcony Solar, IQ Battery, IO Battery 5P, IQ PowerPack 1500, IQEV Charger, Enlighten, |Q Load Controller, |Q System Controller, IQ Energy Manageme