Slide 1: Plug Power Inc. June 2022
Copyright 2021, Plug Power Inc. Plug Power Inc. NASDAQ: PLUG June 2022
Slide 2: Forward-looking statements
2 This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power including but not limited to statements about Plug Power’s expectations regarding its future results
Slide 3: Andy Marsh, President and Chief Executive Officer
Andy Marsh President and Chief Executive Officer
Slide 4: Plug's Building Blocks to Become Industry Leader in a $10T+ Hydrogen Economy
4 Plug’s Building Blocks to Become Industry Leader in a $10T+ Hydrogen Economy Driving adoption in core, on-road, and stationary power markets Strong balance sheet to accomplish goals organically and through strategic acquisitions to become an undeniable leader in hydrogen economy Investing in capab
Slide 5: Global Green Hydrogen Network
5 5 Global Green Hydrogen Network • 13 North American plants with Green Hydrogen generation of 500-tons per day by 2025 • Announced Green Hydrogen plant locations at California, Georgia, Louisiana, New York and Texas • YE2022 producing 70 TPD • YE2023 producing 200 TPD • Announced 35TPD Green Hydrog
Slide 6: Electrolyzer sales funnel already $15B+ and growing
6 Electrolyzer sales funnel already $15B+ and growing Projects TPD eFuel/methanol Ammonia Vehicle refueling Blending/heating Renewable energy storage Refining
Slide 7: Strategic Acquisitions Have Vertically Integrated Plug's Green Hydrogen Systems
7 • Provider of highly engineered EPC solutions, and best-in-class capabilities to build electrolyzer systems. • Cryogenic manufacturing capabilities facilitating growth of tanker capacity & reducing tanker costs by 50% • $500MM annual revenue opportunity by 2025 • Reduces Plug’s hydrogen plant OpEx
Slide 8: Continued Growth in Material Handling, Expansion into Other Fuel Cell Applications
8 Stationary applications Path to $1.6B in 2025 Continued Growth in Material Handling Expansion into other Fuel Cell Applications Class 6 trucks Forklifts Delivery Vans (Hyvia) Heavy Duty vehicles Stationary applications
Slide 9: Signed partnerships in Europe, the US and Asia Pacific
9 Have signed partnerships in Europe, the US and Asia Pacific
Slide 10: End-to-end green hydrogen ecosystem
10 10 Plug is building an end- to-end green hydrogen ecosystem, from production, storage and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy.
Slide 11: Expanding manufacturing capabilities, including PEM technology Gigafactory
Plug continues to expand manufacturing capabilities, including the world’s first PEM technology Gigafactory 7M+ Bi-Polar Plates 60,000+ Fuel Cell Stacks 1+GW Of Electrolyzers Green H2 Onsite generation 2.5+ Gigawatts output 7M+ MEAs Gigafactory Annual Capacity ✓ Plug will be world-class manufacturer
Slide 12: What will Plug financials look like in 2025?
12 What will Plug financials look like in 2025? $3B in Annual Sales Operating Income 17%+ 20%+ EBITDA Global Hydrogen Solution Platform Differentiated Market Position in Large Global Markets Diversified Technology Company Generating Significant Earnings & Cash Flows A Global Hydrogen Ecosystem Marke
Slide 13: Paul Middleton, Chief Financial Officer
Paul Middleton Chief Financial Officer
Slide 14: Plug's Building Blocks to Drive Targets
14 Plug’s Building Blocks to Drive Targets Develop New Global Markets/Channels • Pedestal MH customers, JVs, Europe platform, etc. • Geographic Markets 1 Develop New Products & Scale Manufacturing Capabilities • New Products - Stationary, On Road, Electrolyzers • Giga factories, Frames, ACT, Liquefi
Slide 15: Revenue Map from Point A to B
15 Revenue Map from Point A to B (millions) 2021 ~$470M ~$10M ~$1B ~$.5B ~$1.4B 2025 ~$20M Material Handling New Markets (EV and Stationary) Green Hydrogen Market (Fuel and Electrolyzers) Market Tail Winds Regulatory Social Cost Curve Develop market channels - customers & partners Leveraging the glo
Slide 16: Growth & Focused Cost Management Driving Gross Margin and OPEX Leverage
16 16 Growth & Focused Cost Management Driving Gross Margin and OPEX Leverage Continual Innovation Improving Performance & Reducing Costs Vertical Integration Improve Performance, Reduce Costs and Lead Times Supply Chain Leverage Improve Performance, Reduce Costs and Lead Times Leveraging OPEX Prude
Slide 17: Hydrogen Investments Accelerating Growth and Margin Expansion
17 Hydrogen Investments Accelerating Growth and Margin Expansion Projections ($ in millions) $64M $502M $3B Forecast 2014 2021 2025 30% CAGR ~50% CAGR 2022 Plug Revenue Forecast of $925M represents ~84% growth over 2021. • Gross Margin Break-Even in 2022 • Operating Profitability in 2023 • Free Cash
Slide 18: Q&A
Q&A Andy Marsh - President and Chief Executive Officer Paul Middleton - Chief Financial Officer Sanjay Shrestha - GM, Energy Solutions & Chief Strategy Officer Ole Hoefelmann - GM, Electrolyzer Solutions Jose Luis Crespo- GM, Fuel Cell Applications / Global Accounts
Slide 19: Investor Relations contact
Director of Investor Relations Roberto Friedlander rfriedlander@plugpower.com Corporate Headquarters 968 Albany Shaker Road, Latham, New York, 12110 plugpower.com