Slide 1: Tecogen FY 2025
Tecogen FY 2025 NYSE American: TGEN March 18, 2026
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 Vertiv Partnership Update Data Center Sales Pipeline Q4 Results On-Site Cogeneration Service Company Financials
Slide 4: Vertiv Partnership Update
Vertiv Partnership Update In the design phase of projects with 25MW to 50MW of our chillers • Equal to 50 to 100 units of the 150-ton Dual Power Source chiller Currently Negotiating Master Partnership Agreement • Expands existing marketing agreement Working on technology demonstration project We may
Slide 5: Tecogen Data Center Opportunity Pipeline
Tecogen Data Center Opportunity Pipeline Data Center MWs Chiller Type Number Status 1MW Dual Power - 150 ton 2 Vertiv demo project. 1MW Dual Power - 150 ton 2 to 4 Existing data center expansion. Site expects to be operational H1 2027 8 to 13, Final stages of negotating with tenant. Expect phase 1 -
Slide 6: Manufacturing Capacity Update
Manufacturing Capacity Update Qualified sheet metal and refrigeration contract manufacturer • First article has been completed • Contract manufacturer already builds similar assemblies in hundreds of units per year Qualified electrical assembly companies • First articles have been received and quali
Slide 7: Strategic Priorities
Strategic Priorities Last 9 months - Focused Effort on Key Priorities • Technology – Data Center Dual Power Source Chiller • Increased marketing spend to data centers • Manufacturing throughput expansion • NYC service group – revenue and margin expansion Cash • Currently at $10m – strategic initiati
Slide 8: 4Q 2025 Results
4Q 2025 Results Tecogen, Inc. Consolidated P&L - QTD QTD QTD % Change Key Points 12/31/2025 12/31/2024 2025 vs 2024 Revenues • Product revenue lower in Q4 due to delays Product $ 460,522 $ 1,441,910 -68.1% Services 4,462,823 4,083,492 9.3% on a couple of projects Energy Production 394,652 550,121 -2
Slide 9: 4Q 2025 Adjusted EBITDA Reconciliation
4Q 2025 Adjusted EBITDA Reconcilliation Tecogen, Inc. QTD QTD % Change Key Points Adjusted EBITDA - QTD 12/31/2025 12/31/2024 2025 vs 2024 Net Income (Loss) $ (3,993,780) $ (1,186,067) 236.7% • Adjusted EBITDA loss worse due to higher Interest Expense, Net 38,697 30,762 25.8% costs Income Tax Expens
Slide 10: 4Q 2025 Performance by Segment
4Q 2025 Performance by Segment Tecogen, Inc. Product Margin Segment Analysis - QTD QTD QTD % Change • Limited product revenue in Q4 due to 12/31/2025 12/31/2024 2025 vs 2024 delayed projects. Products Segment Revenue $ 460,522 $ 1,441,909 -68.1% Cost of Sales 492,219 995,921 -50.6% Gross Profit (31,
Slide 11: FY 2025 Results
FY 2025 Results Tecogen, Inc. YTD YTD Consolidated P&L - YTD % Change 12/31/2025 12/31/2024 2025 vs 2024 Revenues Product Services $ 9,133,450 $ 16,616,523 4,443,996 16,074,870 105.5% 3.4% Key Points Energy Production Total Revenues 1,323,737 27,073,710 2,100,670 22,619,536 -37.0% 19.7% • Product re
Slide 12: FY 2025 Adjusted EBITDA Reconciliation
FY 2025 Adjusted EBITDA Reconcilliation Key Points • Adjusted EBITDA loss increased YoY due Tecogen, Inc. YTD YTD % Change to higher costs Adjusted EBITDA - YTD 12/31/2025 12/31/2024 2025 vs 2024 Net Income (Loss) $ (8,248,755) $ (4,760,238) 73.3% Interest Expense, Net 150,289 90,304 66.4% Income Ta
Slide 13: FY 2025 Performance by Segment
FY 2025 Performance by Segment Tecogen, Inc. Product Margin Segment Analysis - YTD YTD YTD % Change • Margin flat or slightly higher on product 12/31/2025 12/31/2024 2025 vs 2024 Products Segment Revenue $ 9,133,450 $ 4,443,996 105.5% Cost of Sales 6,097,501 3,014,655 102.3% Service Margin Gross Pro
Slide 14: Summary
Summary Multiple positive developments including demo project with Vertiv Tecogen’s pipeline is solid, team working flat out to close data center and non-data center business Investments made into increasing throughput, marketing and improving margin. Expect to have cash burn reduced by Q2