Slide 1: Plug Power
Plug Power NASDAQ: PLUG Copyright 2022, Plug Power Inc. Copyright 2023, Plug Power Inc.
Slide 2: Cautionary Note on Forward Looking Statements
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-lo
Slide 3: Plug is building an end-to-end hydrogen ecosystem
Plug is building an end-to-end hydrogen ecosystem, from production, storage and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. 3
Slide 4: 2025 Key Priorities
2025 Key Priorities Top Priority: Cost Control, Revenue Growth and Bookings Cost Down Initiatives 1 Project Quantum Leap to reduce costs $150M – 200M annually 2 Drive Further Margin Expansion Electrolyzer and Fuel Cell SWAT Team goals: - Reduce stack and system costs - Impact starting in Q1 2025 Imp
Slide 5: Path to 2030
Path to 2030 Laser focused on 2025 • Transformational Year • Exiting 2025 with positive GM run rates Setting the stage for sustainable growth over the next five years Operating Income Positive exiting 2027 Overall Profitability Exiting 2028 5
Slide 6: Energy
Energy 6
Slide 7: Plug's Green Hydrogen Production
Plug’s Green Hydrogen Production North American Network Georgia H2 Plant ✓ Georgia (15TPD) ✓ Tennessee (10 TPD) ✓ Louisiana (15 TPD) – Q1 2025 ➢ Texas (45 TPD) – Pending DOE Loan 7
Slide 8: Plug PEM Electrolyzer Solutions (>8GW of BEDP Contracts)
Plug PEM Electrolyzer Solutions (>8GW of BEDP Contracts) 2 Ton per Day System 4 Ton per Day Array Up to 5 MW input Up to 10 MW input Includes full BoP for turnkey simplicity BoP custom-engineered to meet customer requirements Containerized solution for high demand applications Efficient, scalable so
Slide 9: Record Electrolyzer Deployments Across 5 Continents
Record Electrolyzer Deployments Lhyfe, France Across 5 Continents Hiringa, New Zealand 1 2 Industrial Green Chemicals (Refining, Steel, Semi-Con) & Fuels Infinium, (NH3, MEOH, SAF, SNG) Texas 3 4 Power & Energy H2 Mobility (Power, Back-up/ Peak, (HDV, LDV,MHE) PtG) 9
Slide 10: Electrolyzers: BEDP Detail & 2024-2025 Order Intake
Electrolyzers: BEDP Detail & 2024-2025 Order Intake >1 GW Order Intake Opportunity in 2025 BEDP Detail 2024-2025 5MW Order Intake FID Date MWs Product Units Q2 2024 25 5 MW 1 Q4 2024 50 5 MW 6 Q4 2024 80 5 MW 3 Q1 2025 200 5 MW 5 Q1 2025 400 5 MW 12 Q1 2025 500 5 MW 2 Q1 2025 500 5 MW 1 Q2 2025 1,00
Slide 11: World's first PEM Technology Gigafactory
World’s first PEM Technology Gigafactory Annual Capacity 2.5+ 7M+ 2M+ Gigawatts MEAs Bi-Polar output Plates 2+GW Green H2 Of Electrolyzers Onsite generation 60,000+ 100+MW Current Monthly Electrolyzer Fuel Cell Stacks Stack Manufacturing
Slide 12: Expanded Cryogenic Equipment H2 Offerings
Expanded Cryogenic Equipment H2 Offerings Deliver Diversification and Growth HL 1500 Liquefaction Systems LH2 Trailers Mobile Refueler • Most efficient and cost-effective • Ramped up LH2 trailer • Reduce infrastructure costs liquefier system in the market sales to market and for and deployment time
Slide 13: Enterprise / Facility Sales Opportunity
Enterprise / Facility Sales Opportunity Plug is the leading company that offers this turnkey solution H2 Generation H2 Liquefaction Cryo H2 Delivery + Storage Molecule Supply OR Electrolyzers Liquefiers On-road Tankers Stationary Tanks Total equipment sales opportunity more than doubles with this ap
Slide 14: Stationary
Stationary Applications a ay ay a Trucks Stationary < ~ Applications Delivery Vans (Hyvia) Plyg Applications Heavy Duty Vehicles
Slide 15: Vista Manufacturing Facility
Vista Manufacturing Facility Plug HQ and End Product Fabrication 407,000 square foot facility producing GenDrive fuel cell systems, and supporting fabrication of electrolyzer systems Home to Plug's Regional Service Center Available capacity to scale production to meet all growth projections past 203
Slide 16: Material Handling - GenDrive
Material Handling - GenDrive • Plug’s “GenDrive” fuel cell creates significant productivity gains vs. battery alternatives 4M 5M • 72,000+ Plug Fuel Cells installed and Operating forklifts, U.S. and Operating forklifts, U.S. and over 300 locations Europe, 2021 Europe, 2030 • Operating the largest ne
Slide 17: Material Handling Expansion
Material Handling Expansion Channels Globally 25% increased TAM or 1 million more forklifts by targeting mid-size offerings European Expansion Cost Focus New Multisite Deals Plan for continued product cost New Customers Wegmans Food Markets down and reliability improvements Continued Expansion with
Slide 18: Financial Priorities & Projections
Financial Priorities & Projections
Slide 19: Priority For Path to Profitability
Priority For Path to Profitability Recently Announced “Project Quantum Leap” driving $150-$200M in cost savings Vertical Integration with Plug Hydrogen Network Pricing Increases Across the Material Handling Portfolio Equipment Sales Growth Increases Leverage on Fixed Manufacturing Costs Supply Chain
Slide 20: Debt & Project Capital Solutions
Corporate Debt Solutions Debt & Project Project Finance Capital Solutions Project Equity Partners DOE Loan Program 20
Slide 21: Inflection Point: New Platforms have been Nurtured to Fruition
INFLECTION POINT: New Platforms have been Nurtured to Fruition Only global player to support the entire hydrogen ecosystem Produce: Transport: Store & Dispense: Use: 21
Slide 22: Investor Relations Contacts
VP of Investor Relations Roberto Friedlander rfriedlander@plugpower.com Manager of Investor Relations Kevin O’Brien kobrien@plugpower.com Corporate Headquarters 125 Vista Blvd Slingerlands, New York 12159 https://www.plugpower.com/