Slide 1: September 2011
NASDAQ: PLUG September 2011 The content of this presentation is PLUG POWER INC. PROPRIETARY AND CONFIDENTIAL. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means - electronic, mechanical, photocopying, recording or otherwise - witho
Slide 2: Plug Power Inc. Safe Harbor Statement
Plug Power Inc. Safe Harbor Statement 2 This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to expectations regarding revenues and product orders and shipments for 2011. These statements are base
Slide 3: Executive Summary
Executive Summary 3 Plug Power is the marketshare leader in alternative energy solutions for the Material Handling market First mover advantage - 85% market share for fuel cell powered lift trucks Proven value proposition with compelling financial return Customers include leading Fortune 500 Revenue
Slide 4: GenDrive Value Proposition
GenDrive ® Value Proposition More Power. More Productivity. More of the Time. Greenfield IRR Payback Reduce Increase < 1 yr carbon productivity ~$3M in footprint up up to 15% savings* to 80% 4 *Brownfield IRR >15% with payback <2 years; >$1M in savings typically
Slide 5: Global TAM for Fuel Cell Powered Forklift Trucks $19.9 Billion
Global TAM for Class 1 – 5 Fuel Cell Powered Forklift Trucks $19.9 Billion Market Class 1 Class 2 Class 3 Sit-down Lift Trucks Stand-up Reach Trucks Rider Pallet Trucks 5
Slide 6: Good things come from...
—————=—— Good things ome from Walmart>\< SySCO Wegmans WinCo WHOLE FedEx. PeG e) Nene Kimberly-Clark oS oer plug power
Slide 7: Customer Success
Customer Success 7 3 sites on 100% hydrogen by end of Q3 2011 - Houston, Front Royal and Philadelphia Commitment for 5 additional sites - Boston, Long Island, San Antonio, Los Angeles, and Riverside No battery infrastructure Multi-distribution center commitment Investigating opportunities for using
Slide 8: Customer Success
Customer Success 8 Three sites with over 300 forklift trucks powered by Plug Power Eliminated need to change out lead acid batteries Expected GHG reduction up to 72%, compared to batteries charged from the grid Negotiating future deals in North America Operates 100+ DCs with close to 20,000 forklift
Slide 9: Customer Success
Customer Success 9 Site Success • Greer, South Carolina: 86 units • Mix of Class-1, -2 and -3 • First BMW plant to use fuel cell-powered forklift trucks New facility built without battery infrastructure Entire fleet deployed with GenDrive ® fuel cell power units Affirming global commitment to sustai
Slide 10: Commercial Progress: Hydrogen Refueling and GenDrive
Commercial Progress: Hydrogen Refueling and GenDrive 10 By End of 2011 (Projected): ~3,000 GenDrive units deployed 20,000-30,000 kg of Hydrogen dispensed weekly 1,200 GenDrive products deployed 6,000-10,000 refuelings each week Over 95% of all NA refuelings are being done with Plug Power products
Slide 11: Shipments, Revenue, Gross Margin and EBITDAS Guidance
1,600 — 2,300 20 Shipments (units) 3,400 — 4,400 Revenue ($ mil) $19.5M Fil) pas ole on Gross Margin on 75 15 Product Sales single digits tow eee (%) EBITDAS (§ mil) ($39.1M) ee ae breakeven Operating Cash $40.8M used mid teens — 5 to +5 ($ mil) : low 20’s use lug power
Slide 12: Gross Margin Improvement
Gross Margin Improvement 2011 - Gross margin positive 2012 - Gross margin - 20% plus Standardized Improved Reduction componentry leverage with in materials across suppliers product lines 12
Slide 13: Conclusion
Conclusion 13 First mover advantage - 85% marketshare Global market of $19.9B Revenue growth guidance 80-100% in 2011 and 2012 Tripled Product/Service revenue year over year Record 2010 and Q1 2011 orders with Q2 having largest backlog in company history Expected profitability in 2012 30%+ gross mar