Slide 1: Financial Update
SEPTEMBER 16, 2026 Financial Update
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation and statements that are made on our investor call contain forward - materially from those in the forward - looking statements, including, but not limited to, the safety laws and potential obligations, liabilities, and costs thereunder; actual o
Slide 3: FY 2026 Revenue Outlook
• Now expecting revenue of ~$2.4 billion for FY 2026, a reduction FY 2026 of ~$600 million from previous guidance • More than 80% of the decrease is attributable to U.S. Revenue production issues ~$450 million of production delays, primarily from the Houston facility Outlook ~$65 million of penaltie
Slide 4: FY 2026 Adjusted EBITDA Outlook
• Now expecting an Adjusted EBITDA 1 loss of approximately $200 FY 2026 million vs. a loss of ~$ 10 million in previous guidance Adjusted • Approximately two - thirds of the increased attributable to missed project milestones expected loss is EBITDA ~$65 million of gross margin on revenues shifted i
Slide 5: Next Steps
• Strengthening execution Bernerd Da Santos named EVP and COO — ex- AES COO, supply chain turnaround leader Plan to put into place corrective action plan with clear target milestones Plan to develop new framework for contract manufacturers and production schedules Work to improve end - to- end plann
Slide 6: Non-GAAP Financial Measures
Non - GAAP Financial Measures We present our operating results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). We believe ce rtain financial measures, such as Adjusted EBITDA, which are non - GAAP measures, provide users of our financial statements with supplemental