Slide 1: Tecogen Q3 2025
Tecogen Q3 2025 NYSE American: TGEN November 13th 2025
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and accompanying documents contain “forward-looking statements” which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, Income, returns or other financial measures, that may include words such as "believe," "expec
Slide 3: Table of Contents
Table of Contents Data Center Update Factory Capacity and Use of Capital Q3 Results On-Site Cogeneration Service Company Financials
Slide 4: Data Center Updates: Significant Traction with Bigger Opportunities
Data Center Updates Significant Traction with Bigger Opportunities Potential Customer that gave LOI for 6 Stx Chillers is now specifying Tecogen for 3 projects – timing is subject to data center tenant being signed Multiple established data center developers have provided Tecogen with their data cen
Slide 5: Why Are Data Centers Interested in Tecogen's Cooling?
Why Are Data Centers Interested in Tecogen’s Cooling ? Power for Cooling vs Ambient Temperature 100MW AI Load 50 45 As Ambient Temperature Increases: 40 • Power allocated to electrical cooling is 35 40MW at 120F vs 25 MW at 90F 30 MW 25 • Constraining power available for IT 20 15 10 5 0 30 60 90 120
Slide 6: How do data centers plan to use Tecogen's chillers?
How do data centers plan to use Tecogen’s chillers ? Switch to Natural Gas Cooling as Ambient Temperature Rises 45 160 40 140 Natural gas operation 35 • Cap power for cooling 120 and use it for AI loads Ambient Temperature 30 100 25 80 20 60 15 Daily High Temp 40 10 Daily High Power 20 5 0 0 1/1/202
Slide 7: Market Need + Manufacturing Capacity = Growth
Market Need + Manufacturing Capacity = Growth Updates Contract Manufacturing + Factory Layout Changes • Currently modifying factory layout to increase throughput, expect to be completed by year end • Working with contract manufacturers – expect first articles before year end Other Strategic Options
Slide 8: Backlog & Cash
Backlog & Cash Cash • $14m Backlog • $4m (Including Las Vegas prepaid 10 year service and not including LOI for data center customers) • $2.5m to $3.5m of cannabis projects continue to delay (Expected late Q4) Related Party Loan • Repaid from offering proceeds 8
Slide 9: 3Q 2025 Results
3Q 2025 Results QoQ Change 3Q Revenues ($ thousands) 2025 2024 % Revenues Cogeneration $ 515 $ 1,294 -60% Chiller 2,235 38 5782% Engineered accessories 234 59 297% Key Points Total Product Revenues 2,984 1,391 115% Services Revenues 3,943 3,850 2% • Revenue increased 28% Energy Production 256 389 -3
Slide 10: 3Q 2025 Adjusted EBITDA Reconciliation
3Q 2025 Adjusted EBITDA Reconcilliation Key Points • Reduction in margin and increased Opex Quarter Ended, September 30 drove the loss Non-GAAP financial disclosure (in thousands) 2025 2024 Net loss attributable to Tecogen Inc. (2,131) $ (930) Interest expense, net (51) 23 Income tax expense 3 0 Dep
Slide 11: 3Q 2025 Performance by Segment
3Q 2025 Performance by Segment $ in thousands 3Q'25 3Q'24 QoQ Change % Product Margin Revenues Products $ 2,984 $ 1,391 $ 1,593 • Product margin in line with expectations Services 3,943 3,851 92 Energy Production 256 389 (133) Total Revenue 7,183 5,631 1,552 27.6% Gross Profit Products 1,099 594 505
Slide 12: Summary
Summary LOIs for pilot projects New leads for sizeable projects Capital raised to strengthen balance sheet And increase manufacturing capacity Complete data center chiller line including unique dual power source chiller