Slide 1: Q1 2022 Earnings Call
OTCQX: TGEN Q1 2022 EARNINGS CALL MAY 12, 2022 1
Slide 2: Management
MANAGEMENT Benjamin Locke - CEO Robert Panora – COO & President Abinand Rangesh – CFO & Treasurer Jack Whiting – General Counsel & Secretary 2
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and accompanying documents contain “forward-looking statements” which may describe strategies, goals, outlooks or other non- historical matters, or projected revenues, Income, returns or other financial measures, that may include words such as "believe," "expe
Slide 4: Agenda
AGENDA Tecogen Overview 1Q 2022 Results Earnings Takeaways Market Update Q&A 4
Slide 5: Providing resiliency and energy savings with a cleaner environmental footprint
Units Shipped Providing resiliency and energy savings with a cleaner environmental footprint 5
Slide 6: Distributed Generation Emissions and Clean Cooling
DISTRIBUTED EMISSIONS GENERATION Near zero NOx and CO 3 rd in number of emissions systems for microgrids installed in gasoline, propane and North America natural gas engines CLEAN COOLING Chillers with lower operating cost and lower greenhouse gas footprint compared to an equivalent electric chiller
Slide 7: Facts About Us
FACTS ABOUT US 200,000+ 3,000+ 2.1M+ 52M+ METRIC TONS OF CO2 DISTRIBUTED KWH GENERATED PRODUCT RUN SAVED GENERATION AND HOURS CHILLERS SHIPPED 7
Slide 8: Revenue Segments
REVENUE SEGMENTS PRODUCT SALES SERVICES Sales of combined heat and We service most purchased power, and clean cooling Tecogen equipment in operation systems to building owners. through long term maintenance Key market segments include agreements through 11 service multifamily residential, health CLE
Slide 9: 1Q 2022 Results
1Q 2022 RESULTS $ in thousands 1Q' 22 1Q' 21 Change % Revenue Products $ 3,939 $ 2,123 $ 1,817 Highlights Service 2,917 3,281 (364) • Net Income of $0/share Q1 2022 Energy Production 582 653 (72) Total Revenue 7,438 6,057 1,381 22.8% • Net Income $89k Gross Profit • Cash and equivalents balance of $
Slide 10: 1Q 2022 Adjusted EBITDA Reconciliation
1Q 2022 ADJUSTED EBITDA RECONCILIATION Quarter Ended, March 31 Non-GAAP financial disclosure (in thousands) 2022 2021 Net income (loss) attributable to Tecogen Inc. $ 89 $ 1,767 EBITDA: Earnings Before Interest, Taxes, Interest expense, net 1 6 Depreciation & Amortization Income tax expense 4 8 EBIT
Slide 11: 1Q 22 Performance by Segment
1Q 22 PERFORMANCE BY SEGMENT 1Q 2022 Revenues ($ thousands) 1Q' 2022 1Q' 2021 Change % Revenues Cogeneration $ 2,174 $ 47 4526% Product Revenue increased 86% QoQ Chiller 1,607 1,457 10% Engineered accessories 158 619 -74% • Significant increase in cogeneration revenues Total Product Revenues 3,939 2
Slide 12: 1Q'22 Earnings Takeaways
1Q’ 22 EARNINGS TAKEAWAYS Business Segments Recovering from COVID Challenges • Q1 Product Revenue $3.9 mm Backlog by Customer Type Multi-Family • Q1 ending backlog of $9.4 million. Current backlog at $9.2 million Residential • Continued penetration into cannabis and controlled environment Healthcare
Slide 13: Market Update: Impact of Gas Prices
MARKET UPDATE: IMPACT OF GAS PRICES Electrical Capacity Constraints Nationwide Improved ROI as electricity prices increase Electrical production predominantly fossil fuel based in USA so as gas prices rise, electricity prices rise Presently we have seen electricity prices rise 20% or more in CA, NY
Slide 14: Pathway to Growth
PATHWAY TO GROWTH Special Board Committee formed to investigate expanded business opportunities for Controlled Environment Agriculture. Clean Microgrids using CHP in combination with other energy technologies including solar and battery Tecochill Hybrid Drive Air-Cooled Chiller to be launched at AHR
Slide 15: Q&A
Q&A Company Information Tecogen, Inc 45 First Ave Waltham, MA 02451 www.Tecogen.com Contact information Benjamin Locke, CEO 781.466.6402 Benjamin.Locke@Tecogen.com 15