Slide 1: 1Q 2026 Earnings Presentation
1Q26 EARNNINGS PRESENTATION May 6, 2026 1Q 2026 EARNINGS PRESENTATION 0
Slide 2: Disclaimer
DISCLAIMER 1Q26 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 currently available to our management. Forward-looking statements inclu
Slide 3: Generating Energy With Integrity
GENERATING ENERGY WITH INTEGRITY 1Q26 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 99 GW Headquartered
Slide 4: Business Update
1Q26 EARNNINGS PRESENTATION BUSINESS UPDATE Kevin G. Hostetler Chief Executive Officer — Neil Manning President & Chief Operating Officer 3
Slide 5: 1Q 2026 Financial Highlights
1Q 2026 FINANCIAL HIGHLIGHTS 1Q26 EARNNINGS PRESENTATION �223.4M �63.0M �68.7M REVENUE GROSS PROFIT ADJUSTED GROSS PROFIT(2) (1%) vs 4Q25 +226% growth vs 4Q25(1) +24% growth vs 4Q25 +15% volume growth vs 4Q25 28.2% Gross Margin 30.7% Adj. Gross Margin(2) +1,960 bps improvement vs 4Q25(1) +620
Slide 6: 1Q 2026 Business Updates
1Q 2026 BUSINESS UPDATES “Array’s SkyLink system provides the 1Q26 EARNNINGS PRESENTATION flexibility needed without excess complexity. The eight linked-row architecture allows better layout optimization on complex sites. The COMMERCIAL HIGHLIGHTS wireless, zero trenching design is expected to reduc
Slide 7: Strategic Priorities Guiding Profitable Growth And Global Scale
STRATEGIC PRIORITIES GUIDING PROFITABLE 1Q26 EARNNINGS PRESENTATION GROWTH AND GLOBAL SCALE Q1 execution delivered tangible progress across innovation, international expansion, and customer value creation Introduced DuraTrack D2STM internationally, aligning to customer needs and reinforcing differen
Slide 8: Previewing DuraTrack D2S First Commercial Installation: Spain
PREVIEWING DURATRACK D2STM 1Q26 EARNNINGS PRESENTATION FIRST COMMERCIAL INSTALLATION: SPAIN Dual-row tracker solution with patented passive wind stow technology for international markets PATENTED PASSIVE WIND STOW LEADING TERRAIN TECHNOLOGY ADAPTABILITY Energy production benefit of up to 4%(1) Incor
Slide 9: Global Commercial Momentum
GLOBAL COMMERCIAL MOMENTUM 1Q26 EARNNINGS PRESENTATION Momentum improved in Q126 as we strengthened regional execution, expanded qualified pipeline visibility, and progressed wins in key growth markets NORTH AMERICA EMEA APA momentum continues to grow across both Rebuilding the book with key wins an
Slide 10: Commercial Execution Strength
COMMERCIAL EXECUTION STRENGTH 1Q26 EARNNINGS PRESENTATION Commercial execution improvements are reinforcing backlog quality, pricing discipline, and margin durability INCREASED TECHNICAL AND DRIVING MEASURABLE PRODUCT-LED SELLING RECORD ORDERBOOK as of Q1’26 IMPROVEMENTS IN THE ORDERBOOK Increased f
Slide 11: Financial Update
1Q26 EARNNINGS PRESENTATION FINANCIAL UPDATE H. Keith Jennings Chief Financial Officer 10
Slide 12: 1Q 2026 Financial Highlights
1Q 2026 FINANCIAL HIGHLIGHTS 1Q26 EARNNINGS PRESENTATION Quarter Over Quarter Strong start to the year generating meaningful improvement in profit quarter over quarter REVENUE (1%) (1) Gross Profit (GAAP) Adj. Gross Profit Revenue Gross Margin (GAAP) Adj. Gross Margin (1) ADJ. GP +24% $76.4 $80.1 $3
Slide 13: 1Q 2026 Financial Results
1Q 2026 FINANCIAL RESULTS 1Q26 EARNNINGS PRESENTATION Strong results exceeded expectations in revenue, adjusted EBITDA(1) and adjusted EPS(1) ($ in millions, except EPS Data) 1Q26 4Q25 1Q25 Financial Revenue $223.4 $226.0 $302.4 Highlights Gross margin 28.2% 8.6% 25.3% 1Q26 Adjusted Gross Margin(1)
Slide 14: Reaffirming 2026 Full Year Guidance
REAFFIRMING 2026 FULL YEAR GUIDANCE 1Q26 EARNNINGS PRESENTATION FULL YEAR ENDING DECEMBER 31, 2026 2Q26 ENDING JUNE 30, 2026 Revenue $1.4B - $1.5B Revenue $300M - $320M Adjusted EBITDA(1) $200M - $230M Adjusted Net Income Per Common Share(1) $0.65 - $0.75 Assumptions: FY Adjusted Gross Margin (1): 2
Slide 15: Disciplined Execution Supporting Sustainable Value Creation
DISCIPLINED EXECUTION SUPPORTING 1Q26 EARNNINGS PRESENTATION SUSTAINABLE VALUE CREATION Capitalizing on attractive long-term solar growth Utility-scale solar remains the lowest-cost of new electricity generation globally(1) Positioned to benefit from durable demand drivers, including electrification
Slide 16: Appendix
APPENDIX 1Q26 EARNNINGS PRESENTATION 15
Slide 17: Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS 1Q26 EARNNINGS PRESENTATION Array Technologies, Inc. As of (in thousands, except per share and share amounts) (Unaudited) March 31, 2026 December 31, 2025 Assets Current Assets Cash and cash equivalents $ 200,702 $ 244,388 Restricted cash 1,291 1,596 Accounts re
Slide 18: Condensed Consolidated Statement Of Operations
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS 1Q26 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended March 31, (in thousands, except per share amounts) (Unaudited) 2026 2025 Revenue $ 223,412 $ 302,363 Cost of revenue Cost of product and service revenue 154,794 222,296 Amortization
Slide 19: Condensed Consolidated Statement Of Cash Flows
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 1Q26 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended March 31, (in thousands) (Unaudited) 2026 2025 Operating activities Net income $ 1,997 $ 16,746 Adjustments to net income: Provision for bad debts 195 1,671 Deferred tax (benefit) e
Slide 20: Adjusted Gross Profit Reconciliation
ADJUSTED GROSS PROFIT RECONCILIATION 1Q26 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands, except percentages) (Unaudited) March 31, 2026 December 31, 2025 March 31, 2025 Revenue $ 223,412 $ 226,044 $ 302,363 Cost of revenue 160,408 206,714 225,935 Gross profit 63,00
Slide 21: Adjusted G&A Reconciliation
ADJUSTED G&A RECONCILIATION 1Q26 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands) (Unaudited) March 31, 2026 December 31, 2025 March 31, 2025 General and administrative expense $ 50,404 $ 57,465 $ 43,945 Equity-based compensation (3,941) (4,228) (2,798) Certain legal
Slide 22: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION 1Q26 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands) (Unaudited) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Net income (loss) $ 1,997 $ (145,746) $ 33,503 $ 43,262 $ 16,746 Preferred dividends and
Slide 23: Adjusted Net Income Reconciliation
ADJUSTED NET INCOME RECONCILIATION 1Q26 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands, except per share amounts) (Unaudited) March 31, 2026 December 31, 2025 March 31, 2025 Net income (loss) $ 1,997 $ (145,746) $ 16,746 Preferred dividends and accretion 15,537 15,4
Slide 24: Free Cash Flow Reconciliation
FREE CASH FLOW RECONCILIATION 1Q26 EARNNINGS PRESENTATION Array Technologies, Inc. Three Months Ended (in thousands) (Unaudited) March 31, 2026 December 31, 2025 March 31, 2025 Net cash (used in) provided by operating activities $ (29,421) $ 43,640 $ (13,059) Purchase of property, plant and equipmen
Slide 25: Leverage & Liquidity
LEVERAGE & LIQUIDITY 1Q26 EARNNINGS PRESENTATION Total available liquidity of ~�550M with Net Debt leverage of 2.7X LEVERAGE LIQUIDITY Corporate Ratings: B1 (Stable) / B+ (stable) As of March 31, 2026 ($ millions) As of March 31, 2026 ($ millions) Amount xEBITDA(1) Cash & Cash Equivalents $200.7 Cas
Slide 26: Thank You
1Q26 EARNNINGS PRESENTATION THANK YOU investors@arraytechinc.com 25