Slide 1: 3Q 2025 Earnings Presentation
3Q25 EARNNINGS PRESENTATION November 5th, 2025 3Q 2025 EARNINGS PRESENTATION 1
Slide 2: Disclaimer
DISCLAIMER 3Q25 EARNNINGS PRESENTATION FORWARD LOOKING STATEMENTS NON-GAAP FINANCIAL INFORMATION This presentation contains forward-looking statements that are based on our management’s beliefs and assumptions and on information This presentation includes certain financial measures that are not pres
Slide 3: Generating Energy with Integrity for a Sustainable World
GENERATING ENERGY WITH INTEGRITY 3Q25 EARNNINGS PRESENTATION FOR A SUSTAINABLE WORLD ARRAY TECHNOLOGIES Demonstrated track record of delivering Leading the way to a brighter, smarter future power across the globe for 30+ years A global leader advancing the future of clean energy Headquartered in Alb
Slide 4: Business Update
3Q25 EARNNINGS PRESENTATION BUSINESS UPDATE Kevin G. Hostetler Chief Executive Officer — Neil Manning President & Chief Operating Officer 4
Slide 5: 3Q 2025 Highlights
3Q 2025 HIGHLIGHTS 3Q25 EARNNINGS PRESENTATION $393.5M $105.7M $110.5M REVENUE GROSS PROFIT ADJUSTED GROSS PROFIT(1) $16.9M of revenue from APA 26.9% Gross Profit Margin 28.1% Adj. Gross Margin(1) +9% vs. 2Q25, +70% vs. 3Q24 +9% vs. 2Q25, +35% vs. 3Q24 +10% vs. 2Q25, +35% vs. 3Q24 +56% YoY Vol
Slide 6: APA Product Portfolio and APA Solar Updates
APA PRODUCT PORTFOLIO APA SOLAR UPDATES 3Q25 EARNNINGS PRESENTATION Engineered Foundation Solutions Integration Update On track with integration goals, including: Process, policies, systems alignment and optimization Leveraging ARRAY’s scale and relationships to drive C-PILE SCREW HELICAL procuremen
Slide 7: Commercial Momentum
Propelling innovation COMMERCIAL MOMENTUM 3Q25 EARNNINGS PRESENTATION through voice of the customer OmniTrack , SkyLink, Hail XP Strengthening orderbook post-OBBB → growth in new product adoption, Significant momentum in SmarTrack® software deployments improving book-to-bill momentum, and enhanced c
Slide 8: Supply Chain Resiliency
SUPPLY CHAIN RESILIENCY 3Q25 EARNNINGS PRESENTATION Through effective supply chain optimization less than 20% of a typical BOM currently exposed to tariffs and expect less than 14% by end of year Supply Chain Strategy KEY PORTION of US SOURCING LOCATIONS COMPONENTS BOM Flexible and dynamic sourcing:
Slide 9: Financial Update
3Q25 EARNNINGS PRESENTATION FINANCIAL UPDATE H. Keith Jennings Chief Financial Officer 9
Slide 10: 3Q 2025 Financial Highlights
3Q 2025 FINANCIAL HIGHLIGHTS 3Q25 EARNNINGS PRESENTATION Year Over Year Performance driven by volume growth from commercial execution REVENUE +70% (1) Gross Profit (GAAP) Adj. Gross Profit Revenue ADJ. GP +35% Gross Margin (GAAP) Adj. Gross Margin (1) $393.5 $362.2 $105.7 $110.5 $97.1 $100.8 $78.3 $
Slide 11: 3Q 2025 Financial Results
3Q 2025 FINANCIAL RESULTS 3Q25 EARNNINGS PRESENTATION Strong results exceeded expectations in revenue, adjusted EBITDA(1) and adjusted EPS(1) ($ in millions, except EPS Data) 3Q25 2Q25 3Q24 Financial Revenue $393.5 $362.2 $231.4 Performance Gross margin 26.9% 26.8% 33.8% 3Q Revenue growth of 70% ove
Slide 12: Leverage & Liquidity
LEVERAGE & LIQUIDITY 3Q25 EARNNINGS PRESENTATION Total available liquidity maintained over $365M post acquisition of APA Solar with Net Debt leverage of 2.1X Current Leverage Net Available Liquidity Corporate Ratings: B1 (Stable) / B+ (stable) As of September 30, 2025 ($ millions) As of September 30
Slide 13: 2025 Full Year Guidance Update
2025 FULL YEAR GUIDANCE UPDATE 3Q25 EARNNINGS PRESENTATION Previous Guidance FY2025 (Excludes APA) Updated Guidance (includes APA) REVENUE $1.180B - $1.215B $1.25B - $1.28B ADJUSTED GROSS MARGIN 28% - 29% 27% - 28% ADJUSTED EBITDA $185M - $200M $185M - $195M ADJUSTED NET INCOME PER COMMON SHARE $0.6
Slide 14: Investment Highlights
INVESTMENT HIGHLIGHTS 3Q25 EARNNINGS PRESENTATION Leading solution in high demand market Significant AI datacenter growth and manufacturing onshoring in US expected to drive demand Solar leads the industry as the quickest and least expensive way to deploy energy developments, less than half the lowe
Slide 15: Appendix
APPENDIX 3Q25 EARNNINGS PRESENTATION 15
Slide 16: Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS 3Q25 EARNNINGS PRESENTATION Array Technologies, Inc. As of (in thousands, except per share and share amounts) (Unaudited) September 30, 2025 December 31, 2024 Assets Current Assets Cash and cash equivalents $ 221,516 $ 362,992 Restricted cash 1,587 1,149 Account
Slide 17: Condensed Consolidated Statement of Operations
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS 3Q25 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) (Unaudited) 2025 2024 2025 2024 Revenue $ 393,491 $ 231,406 $ 1,058,097 $ 640,575 Cost of reve
Slide 18: Condensed Consolidated Statement of Cash Flows
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 3Q25 EARNNINGS PRESENTATION Array Technologies, Inc. Nine Months Ended September 30, (in thousands) (Unaudited) 2025 2024 Operating activities Net income (loss) $ 93,511 $ (113,491) Adjustments to reconcile net income to cash provided by operating activ
Slide 19: Adjusted Gross Profit Reconciliation
ADJUSTED GROSS PROFIT RECONCILIATION 3Q25 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands, except percentages) (Unaudited) September 30, 2025 June 30, 2025 September 30, 2024 Revenue $ 393,491 $ 362,243 $ 231,406 Cost of revenue 287,820 265,119 153,091 Gross profit 1
Slide 20: Adjusted G&A Reconciliation
ADJUSTED G&A RECONCILIATION 3Q25 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands) (Unaudited) September 30, 2025 June 30, 2025 September 30, 2024 General and administrative expense $ 52,248 $ 44,954 $ 40,149 Equity based compensation (4,647) (3,898) (2,023) Certain l
Slide 21: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION 3Q25 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands) (Unaudited) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Net income (loss) $ 33,503 $ 43,262 $ 16,746 $ (126,903) $ (141,354) $
Slide 22: Adjusted Net Income Reconciliation
ADJUSTED NET INCOME RECONCILIATION 3Q25 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands, except per share amounts) (Unaudited) September 30, 2025 June 30, 2025 September 30, 2024 Net Income (loss) $ 33,503 $ 43,262 $ (141,354) Preferred dividends and accretion 15,144
Slide 23: Free Cash Flow Reconciliation
FREE CASH FLOW RECONCILIATION 3Q25 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands) (Unaudited) September 30, 2025 June 30, 2025 September 30, 2024 Net cash provided by operating activities $ 27,363 $ 43,841 $ 44,935 Purchase of property, plant and equipment (5,513)
Slide 24: Thank You
3Q25 EARNNINGS PRESENTATION THANK YOU investors@arraytechinc.com 24