Slide 1: Investor Presentation May 2025
INVESTOR PRESENTATION MAY 2025
Slide 2: Disclaimer
DISCLAIMER Forward Looking Statements This presentation contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements include information concerning our possible or assumed future re
Slide 3: About Array
ABOUT ARRAY 3
Slide 4: Our History
OUR HISTORY 1989 2004 2013 2018 Ron Corio develops first ARRAY Technologies begins ARRAY Technologies ships ARRAY introduces solar tracker for the shipping trackers to utility- DuraTrack® HZ tracker to a SmarTrack Wattsun concentrator scale projects across Europe 265 MW site in California, optimizat
Slide 5: Generating Energy with Integrity
GENERATING ENERGY WITH INTEGRITY FOR A SUSTAINABLE WORLD Putting passion Respecting Problem-solving through into action what’s right technology and teamwork ARRAY TECHNOLOGIES Leading the way to a brighter, smarter future Demonstrated Track Record of Delivering Power Across the Globe for 30+ Years
Slide 6: Current Market Dynamics
CURRENT MARKET DYNAMICS Utility-scale solar is the most cost effective and fastest growing energy source 84% 5X 50% 2024 new U.S. Electric generation Peak demand Additional electricity Solar and Solar + Battery(1) growth rates(2) production required by 2035(2) Driven by U.S. manufacturing Exceeding
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS 2025 First Quarter $302.4M $80.1M 26.5% Revenue Adjusted Gross Profit(1) Adjusted Gross Margin (1) Up 97% from 1Q24, Outperformed expectations Expected compression due Up 10% from 4Q24 despite impacts of project mix to lower margin project mix $2.0B 143% $348M Orderbook YOY Volu
Slide 8: 2025 Full Year Guidance Maintained
2025 FULL YEAR GUIDANCE MAINTAINED Adjusted Net Income Revenue Adjusted Gross Margin (1)(2) Adjusted EBITDA (1)(2) per common share (1)(2) $1.05B - $1.15B 29% - 30% $180M - $200M $0.60 - $0.70 Includes Adjusted G&A Effective tax between $144M and $152M rate of 24% - 25% $30M-$35M of Capital Expendit
Slide 9: Array's Global Supply Chain: Regionally Tailored & Resilient
ARRAY’S GLOBAL SUPPLY CHAIN: REGIONALLY TAILORED & RESILIENT Optimized to drive lowest cost for customers ARRAY’s regionally tailored supply chain is ideally suited to mitigate numerous potential impacts Our longstanding U.S.-centric supply chain minimizes effects of geopolitical issues includin
Slide 10: Product & Innovation Updates
PRODUCT & INNOVATION UPDATES Continued momentum on recently launched products, field validation of solutions, and new opportunities SmarTrackTM SkyLink Repowering 2000 V & Hail XPTM Launched in Q3 2024 ► Our first commercial ► Nearly 3.5x growth in ► Significant market ► ARRAY DuraTrack® and install
Slide 11: Our Products
OUR PRODUCTS 11 11
Slide 12: Technology Solutions
TECHNOLOGY SOLUTIONS We offer an evolving suite of solar tracker products all powered by SmarTrack® software DuraTrack® OmniTrackTM STI H250TM The gold standard in solar All the benefits of DuraTrack + Pioneering dual-row tracker tracking technology MORE with a strong global reputation Best project
Slide 13: DuraTrack
DuraTrack® 1 AC MOTOR DRIVES UP 200x FEWER COMPONENTS 25% LESS LABOR TO TO 2MW THAN CLOSEST INSTALL Proven, industrial-grade COMPETITOR Flexibly linked, rotating driveline components with articulating u-joints Portfolio of mounts to support Zero scheduled maintenance: most all PV modules on the Quic
Slide 14: OmniTrack
OmniTrackTM 1° TORQUE TUBE SLOPE 20% - 95% 1% -18% REDUCTION IN SAVINGS IN STEEL CHANGE BETWEEN PILES GRADING COST Leading terrain adaptability Less grading = less schedule risk Reduction in pile steel cost from from permitting delays and faster utilizing shorter piles More slope without sacrifice t
Slide 15: STI H250
STI H250TM 2 ROWS PER 17% N-S and E-W 120 MODULES PER DC MOTOR SITE DESIGN FLEXIBILITY MOTOR Self-powered with autonomous Up to 60 modules per row and 120 PV module per motor Up to 17% E-W flexibility between Reduced number of key linked rows and unlimited Designed for PV modules in 1 components vs
Slide 16: SkyLink
DuraTrack with SkyLinkTM 8 ROW LINKED -40°C to 60°C OPERATING 0BATTERIES OmniTrack with ARCHITECTURE TEMPERATURE RANGE REQUIRED SkyLinkTM SkyLink’s eight row architecture PV-powered control system allows for greater flexibility within Designed to meet the needs of enables movement regardless of a si
Slide 17: DuraTrack Hail XP
DuraTrack HailXPTM 77° HIGH ANGLE ~2% - 4% ENERGY GAIN FROM 120 MODULES STOW PASSIVE WIND PER ROW Powerful AC motors can drive MITIGATION High Power Density trackers to cross the flat position No need to make a risky decision (0°) to stow quickly away from the to stow for hail OR wind – Hail XP Larg
Slide 18: Software & Services Portfolio
SOFTWARE & SERVICES PORTFOLIO TERRAIN ADAPTIVE BACKTRACKING Optimize tracker row angles for maximum energy production, minimize shading on other rows during low sun hours, and minimize shading effects on sloped terrain DIFFUSE WEATHER RESPONSE Move trackers to a flat, horizontal position to enable g
Slide 19: Summary
SUMMARY 19 19
Slide 20: Why Customers Choose Array
WHY CUSTOMERS CHOOSE ARRAY We are Committed to Customers We are Dependable We are a Market Leader ARRAY is with you from concept to Our design philosophy minimizes failure Our trackers and software package yield commissioning and beyond with our best- points and builds trackers to withstand th
Slide 21: Why Invest in Array?
WHY INVEST IN ARRAY? 1 Gain Exposure to Fastest 2 3 …With a Company That Has …And Focus on Future Growing Energy Source… a Strong Position… Shareholder Returns By the end of this decade, solar PV is Trackers growing faster and winning Strong organic growth and profitability set to become the l
Slide 22: Appendix
APPENDIX 22 22
Slide 23: Adjusted Gross Profit Reconciliation
ADJUSTED GROSS PROFIT RECONCILIATION ($ in thousands) Three Months Ended March 31, 2025 2024 Revenue 302,363 153,403 Cost of revenue 225,935 98,313 Gross profit 76,428 55,090 Gross margin 25.3% 35.9% Amortization of developed technology 3,639 3,639 Adjusted gross profit 80,067 58,729 Adjusted gross