Slide 1: Shareholder Letter Q1 FY2027
Shareholder Letter Q1 FY2027 July 30, 2026
Slide 2: Financial Highlights
Financial Highlights Performance Through Q1 FY27 Revenue ($M) Adjusted EBITDA ($M) Adjusted Free Cash Flow ($M) 935 864 +8% 233 +8% 105 +50% 215 25% 25% EBITDA % 70 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 GAAP Adjusted Financial Highlights Gross Profit ($M) Gross Profit ($M) • 8% YoY growth
Slide 3: Dear Nextpower Shareholder
NX Horizon-XTR™ terrain following tracker Dear Nextpower Shareholder, We are pleased to share highlights from the first quarter of fiscal year 2027. On our earnings conference call, we will provide short opening remarks followed by a Q&A session. We look forward to speaking with you on our call, sch
Slide 4: Delivering more value for customers through integrated solutions
customers comprehensive, integrated solutions comprising announced strategic initiatives across trackers, foundations, foundations, trackers, eBOS, module frames, power conditioning, digital, eBOS, robotics, module frames, power conditioning, storage, digital, robotics, and a suite of associated lif
Slide 5: Q1 FY2027 Results
Q1 FY2027 Results Q1 revenue increased 8% YoY to $935 million, with adjusted EBITDA of $233 million, also up 8% over the same period. Geographic revenue mix for the quarter was approximately 83% U.S. and 17% Rest of World, compared with 69% U.S. and 31% Rest of World for Q1 FY26. We once again deliv
Slide 6: Business Highlights
Business Highlights Corporate Updates • Expanded into energy storage solutions through the acquisition of Prevalon, broadening Nextpower’s opportunity across solar-plus-storage, standalone storage, and data center power infrastructure (closed in July 2026) • Added inverter and power conversion capab
Slide 7: Fiscal Year 2027 Outlook
Fiscal Year 2027 Outlook For FY27, we have increased our revenue outlook to be in the related benefits to return toward more normalized levels. In Q2 range of $4.1 billion to $4.4 billion. Adjusted EBITDA is expected specifically, we expect margins to reflect the initial impact of to be in the range
Slide 8: Major Growth Initiatives: Expanding Our Platform to Enhance Customer Value
Major Growth Initiatives: Expanding Our Platform to Enhance Customer Value Over the past three months we have announced three new major growth initiatives in the areas of power conversion, energy storage, and an expansion of our European market footprint. With these acquisitions, Nextpower will be a
Slide 9: Targeted Acquisitions Expand Our Market Access and Technology Platform
Targeted Acquisitions Expand Our Market Access and Technology Platform Each initiative adds an established product, team, or market channel that addresses a clear customer need and accelerates our route to market. We believe Nextpower can strengthen these businesses by applying our customer relation
Slide 10: Power Conversion: A Key Customer Pain Point
Power Conversion: A Key Customer Pain Point Our decision to enter the power conversion space began with Apex inverters have now achieved full UL certification to our customers. For years, as we worked with leading developers, complement their existing IEC qualification, allowing Nextpower EPCs, util
Slide 11: Solutions for Utility-scale Solar
The logic of this acquisition follows the same customer-led playbook that has guided our M&A strategy to date: listen to customers, identify critical pain points, invest in differentiated technology, and scale via Nextpower's leading global footprint and trusted customer relationships. Solutions for
Slide 12: Energy Storage: The Next Growth Frontier
Nextpower battery storage paired with NX Horizon® solar tracker in the Atacama desert, Chile Energy Storage: The Next Growth Frontier With the acquisition of Prevalon Energy, which closed The logic behind the Prevalon acquisition was also customer- approximately two weeks ago, Nextpower entered the
Slide 13: Expanded European Footprint and Platform Cross-Sell
Zimmermann PV-Group's Fixed Tilt-PV Mounting System in Osterberg, Germany Expanded European Footprint and Platform Cross-Sell We expect our announced acquisition of Zimmermann PV-Steel Zimmermann brings a proven go-to-market platform to Nextpower, Group, when closed, to expand Nextpower’s product po
Slide 14: Financial Highlights
NX Horizon® supports higher bifacial energy production through design features that increase backside irradiance and minimize structural shading Financial Highlights Shareholder Letter Q1 FY2027 Page 14
Slide 15: Financial Results
Financial Results Q1 FY27 revenue increased to a record $935 million, representing a growth of 8% YoY and 6% sequentially. The geographic mix of total revenue for Q1 was 83% U.S. and 17% Rest of World. Our revenue mix is comprised predominantly of solar tracker system sales. In addition, in Q1 we re
Slide 16: Financial Results
Financial Results Q1 saw solid execution that exceeded our gross margin targets, benefiting from accelerated TrueCapture® growth and tariff recoveries. Q1 adjusted EBITDA was $233 million, representing growth of 8% compared to the prior year driven by higher gross margins, partially offset by higher
Slide 17: Financial Results
Financial Results Our Q1 adjusted effective tax rate of approximately 21% benefited For Q1 FY27, weighted average diluted share count was from an overall mix of profit at applicable tax rates across the approximately 155 million shares, and adjusted diluted EPS regions we serve, executed tax credits
Slide 18: Financial Results: Balance Sheet and Capital Allocation
Financial Results Our strong balance sheet, solid cash flow generation, and ample liquidity remain competitive advantages. We closed the quarter with over $1.2 billion in total cash and cash equivalents and no debt. Capital Allocation We operate a capital-efficient business and remain focused on mai
Slide 19: Forward Looking Statements
Forward Looking Statements This shareholder letter contains forward-looking statements within the performance or other events to differ materially from our expectations meaning of Section 27A of the Securities Act of 1933, as amended, and include: the demand for solar energy and, in turn, our produc
Slide 20: Use of Adjusted Financial Information
Use of Adjusted Financial Information An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedules III, IV and V attached to this Shareholder Letter, and can be found, along with other financial information including the Q1 FY27 earnings press
Slide 21: Schedule I: Condensed Consolidated Statements of Operations
Nextpower Inc. Schedule ISchedule I Nextpower Inc. Unaudited condensed Unaudited condensedconsolidated statementsofof consolidated statements operations operations (In(Inthousands, thousands, except except per pershare sharedata) data) Three-month periods ended July 3, 2026 June 27, 2025 Revenue $ 9
Slide 22: Schedule II: Condensed Consolidated Balance Sheets
Nextpower Inc. Schedule II Schedule II Unaudited condensed consolidated Nextpower Inc. balance sheets (In thousands) Unaudited condensed consolidated balance sheets (In thousands) As of July 3, 2026 As of March 31, 2026 ASSETS Current assets: Cash and cash equivalents $ 1,213,898 $ 1,094,976 Account
Slide 23: Schedule III: Condensed Consolidated Statements of Cash Flows
Nextpower Inc. ScheduleSchedule III III Nextpower Inc. Unaudited condensed consolidated statements of cash flows Unaudited condensed consolidated statements of cash flows (In thousands) (In thousands) Three-month periods ended July 3, 2026 March 31, 2026 June 27, 2025 Cash flows from operating activ
Slide 24: Schedule IV: Reconciliation of GAAP to Non-GAAP Financial Measures
Nextpower Inc. Schedule IV Schedule IV Reconciliation of GAAP to Non-GAAP Nextpower Inc. financial measures Reconciliation (In thousands,ofexcept GAAPpercentages to Non-GAAPand financial measures per share data) (In thousands, except percentages and per share data) Three-month periods ended July 3,
Slide 25: Schedule V: Notes
Nextpower Inc. Schedule V Notes To supplement Nextpower’s unaudited selected financial data • a better understanding of how management plans and presented consistent with U.S. Generally Accepted Accounting measures the Company’s underlying business; and Principles (“GAAP”), the Company discloses cer