Slide 1: Q2 FY2026 Earnings Presentation
Q2 FY2026 Earnings Presentation May 7, 2026 © Fluence Energy Inc. All rights reserved. |
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements The statements herein and referenced on the Company’s earnings call that loss of significant customers or their inability to perform under contracts; technology agreements; our inability to license rights to use technologies on are not historical facts are forwa
Slide 3: Today’s Agenda
1 Strategy Update Today’s Julian Nebreda, President & CEO Agenda
Slide 4: Q2 2026 Executive Summary
Q2 2026 Executive 1 Order intake of ~$2 billion through May 6, 2026, more than double the same period in 2025 Summary 2 Q2’26 adjusted gross margin1 of 11.1% 3 Reaffirming FY2026 Revenue, ARR, and adjusted EBITDA guidance ranges 4 Quarter-ending total liquidity2 of ~$900 million, including ~$413 mil
Slide 5: ~$2 Billion of Orders Booked through May 6th
~$2 Billion of Orders Booked through May 6th; ~70% of FY2025 Achieved with 5 Months Left Order Intake ($ Mn) 2920 ~$2,900 >2x Order Intake Momentum • ~$2 billion including over ~$2,000 $600 million of order intake during third quarter to date • Approximately 50% of FY’26 orders signed with first-tim
Slide 6: Significant Progress with Data Center Customers
Significant Progress with Data Center Customers Key Updates 1• Master supply agreements (MSA) executed with 2 major hyperscalers • Fluence chosen from a process involving multiple participants • Initial order expected during Q3’26 • Expanding multi - year revenue growth opportunity 2 Overall data ce
Slide 7: ~35% Pipeline Growth Year-to-Date, Driven by U.S. Market
~35% Pipeline Growth Year - to- Date, Driven by U.S. Market Pipeline by Quarter ($B) 3/31 Pipeline by Market 5% $31.5 $30.1 18% $23.4 $31.5 Billion 16% 61% Q4’25 Q1’26 Q2’26 US RoW Australia Germany © Fluence Energy, Inc. All rights reserved. | 7
Slide 8: Longstanding Experience in BESS and Strong Incumbent Advantage
Longstanding Experience in BESS and Strong Incumbent Advantage Fluence Business is Centered on Customers • Designs that turn commodities into solutions • Unique combination of market, technical, and hands - on experience • On the cutting edge of BESS use cases • Expertise in maximizing customer bene
Slide 9: First Smartstack Project Commences Operation
First Smartstack Project Commences Operation Differentiated Product Design: Smartstack • Highest density available • First modular design • Ease of maintenance • High reliability • Utilize broad range of battery cells, including pouch • Fire Safety & Cyber Security built - in © Fluence Energy, Inc.
Slide 10: Established U.S. Domestic Supply Chain Fully Compliant with OBBBA
Established U.S. Domestic Supply Chain Fully Compliant with OBBBA, Including PFE Restrictions 1 Current production of domestic cells from Smyrna, TN • Continued access to OBBBA- Module Manufacturing compliant battery cells UTAH Cell 2 Second domestic cell supply Manufacturing Inverter Manufacturing
Slide 11: Today’s Agenda: Financial Update
Today’s Agenda 2 Financial Update Ahmed Pasha, SVP & CFO
Slide 12: Second Quarter FY2026 Financial Performance
Second Quarter FY2026 Financial Performance All figures in $ million, unless specified1 Q2’25 Q2’26 HIGHLIGHTS 1 Revenue $432 $465 1 ~$80 million of revenue moved into Q3 primarily driven by temporary Gross Profit $43 $47 shipping delays at ports. Shipments received in April, no further delays in Gr
Slide 13: Continuing Focus on Double Digit Adjusted Gross Margins
Continuing Focus on Double Digit Adjusted Gross Margins Rolling 12 Month Adjusted Gross Margin%1,2 13.2% 13.4% 13.7% 12.9% 13.1% 12.4% 12.3% 12.4% 9.4% 7.6% 6.6% 4.1% 3.3% 0.7% - 4.5% Q4’2 2 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 1) Rolling 12 Month Adjus
Slide 14: ~$900.0 Million of Total Liquidity to Support our Growth Plans
~$900.0 Million of Total Liquidity 1 to Support our Growth Plans All figures in $ million, unless specified KEY POINTS 1 Used $220 million of total liquidity1 during Q2 to purchase inventory to $516 support second-half deliveries mn $929 2 Expect additional investment in mn inventory during Q3 befor
Slide 15: Reaffirming FY2026 Guidance
Reaffirming FY2026 Guidance FY 2025 FY 2026 All figures in $ million, unless specified Actuals Guidance KEY POINTS $3,200 - $3,600 Revenue $2,263 Midpoint $3,400 1 FY 2026 guidance covered by backlog 2 Production in line with plan; deliveries tracking as expected. Adjusted EBITDA1 $19 $40 - $60 Midp
Slide 16: Key Takeaways
Key Takeaways 1 Strong Foundation Record $5.6 billion backlog expected to grow; FY’26 guidance reaffirmed, fully funded with ~$900 million of total liquidity1 2 U.S. Orders Accelerating ~$2 billion of orders year to date, ~50% of which are from new customers, which is double the amount executed over
Slide 17: Today’s Agenda
1) Strategy Update Tod ay’ S Julian Nebreda, President & CEO Agenda 2) Financial Update Ahmed Pasha, SVP & CFO @ Q&A FLUcNCe ‘A Siemens and A€S Company
Slide 18: Appendix
Appendix aReNee
Slide 19: Smartstack’s Modular Design Can Fit Customer Specs
Smartstack’s Modular Design Can Fit Customer Specs Smartstack Battery Cell FROM Cell Supplier 1 (US) Cell Supplier 2 Battery Module Cell Supplier 3 Battery Pod Cell Supplier 4 Cell Supplier 5 • Initially ships with 7.5 MWh • Upgradable as requirements change Smartstack’s split architecture separates
Slide 20: Extreme Power Usage Fluctuations of Data Centers
Extreme Power Usage Fluctuations of Data Centers Source: Company Estimates; McKinsey © Fluence Energy, Inc. All rights reserved. | 20
Slide 21: OBBBA Provides Upside to Storage; Supports FLNC’s Strategy
OBBBA Provides Upside to Storage; Supports FLNC’s Strategy Long-term ITC availability, limits on Chinese competition, and incentives for domestic content favor FLNC Section 48E ITC (claimed by FLNC customers) based on start construction safe harbor year HIGHLIGHTS OF OBBBA 75% • Section 48E ITC for
Slide 22: PFE Restrictions for Manufacturing are Complex but Workable
PFE Restrictions for Manufacturing are Complex but Workable Amount of Non-PFE Content Required for Section 45X Advanced Manufacturing Tax Credit Increases Over Time Section 45X Cell/Module PFE Content Restrictions 85% 85% 85% KEY HIGHLIGHTS 80% • Section 45X for cells, modules and 70% 65% inverters
Slide 23: Current Tariffs on Chinese Battery Imports
Current Tariffs on Chinese Battery Imports Current Effective Tariffs1 3.4% 10% Imports On or Before 7/24/26 Section 122 tariff Base tariff (expires after July 24, 2026) 38.4% 25% N/A Imports After 7/24/26 Section 301 tariff on Anti - dumping/ cells, modules or integrated systems countervailing (AD/C
Slide 24: Definitions
Definitions ITEM DEFINITION Backlog represents the unrecognized revenue value of our contractual commitments, which include deferred revenue and amounts that will be billed and recognized as revenue in future periods. The Company’s backlog may vary significantly each reporting period based on the ti
Slide 25: Non-GAAP Financial Measures
Non - GAAP Financial Measures Included in this presentation and discussed in the earnings call are certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted Gross Profit, and Adjusted Gross Profit Margin, which are designed to complement the financial information presented in accordan
Slide 26: Non-GAAP Financial Measures & Reconciliations
Non - GAAP Financial Measures & Reconciliations 1 ($ in millions) FY’23 FY’24 FY’25 Q1’25 Q2’25 Q1’26 Q2’26 ($ in millions) FY’23 FY’24 FY’ 25 Q1’ 25 Q2’ 25 Q1’26 Q2’26 GROSS PROFIT 141.0 341.1 295.8 21.2 42.6 23.1 46.6 NET INCOME (LOSS) (104.8) 30.3 (68.0) (57.1) (41.9) (62.6) (29.2) Gross Profit M