#1Meyer Burger Scaling Solar Manufacturing Corporate Presentation July 2023 MEYER BURGER#2Disclaimer IMPORTANT: The following applies to this document, which has been prepared by Meyer Burger Technology AG (the "Company" and together with its subsidiaries, the "Group") solely for information purposes in relation to the Group (the "Information"). The Information does not purport to contain all information required to evaluate the Company or the Group and/or its financial position. Certain financial information (including percentages) has been rounded according to established commercial standards. The Information is intended to provide a general overview of the Group's business and does not purport to deal with all aspects and details regarding the Company and the Group. The Information does not constitute a recommendation regarding any investment in, or loans or securities of, the Company or any other member of the Group. 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MEYER BURGER 2#370 years of experience, including 40 years in PV 1953 1970 1981 2002 Hans Meyer & Willy Burger founded Meyer Burger, focusing on machines for the watch industry 2020 LASAN 17.3 80 2006 2008 2013 2016 2017 2019 Entry into the semiconductor industry Entry into the solar industry 2021 2022 Market launch of the first DS262 wire saw for the solar industry IPO on the SIX Swiss Exchange on November 23, 2006 Start of the development of heterojunction technology Start of development of SmartWire (SWCT®) technology EXPECTED MILESTONES Transformation from PV machine supplier to PV module and cell manufacturer 2023E 2024E 2025E+ DESRN Acquisition of existing facilities for cell and module manufacturing in Saxony and Saxony-Anhalt Opening of initial 400 MW heterojunction/ SmartWire solar cell and solar module manufacturing and ramp-up ☑ MEYER BURGER Off-take agreement with DESRI, 3.75 GW of utility modules between 2024-2029, with option for DESRI to increase to 5 GW Expansion of production capacity to approximately 1.4 GW per year Expansion of production capacity to approximately 3.4 GW per year planned Further expansion of production capacity envisaged Introduction of the mono wafer standard by the diamond wire saw DW288 Series 3 55 GW of installed PERC capacity globally achieved Start of the development of HJT perovskite tandem cells and modules 3#4New captive business model since 2020 A sustainable business transformation • Leading R&D with in-house process and equipment development Equipment and technology exclusively for Meyer Burger's own use MEYER BURGER MEYER DURGER HELS Equipment MEYER BURGER • Safeguards intellectual property and competitive advantage • Captures value of technology for Meyer Burger MEYER BURGER • Creates strategic independence MEYER BURGER Customers Cells Modules 4#5Meyer Burger implements its gigawatt growth strategy with strong financial basis - at the existing sites and in the U.S. Meyer Burger raised EUR ~1.05B financing in 2020-2023 Grants 25 Debt 125 Equity 475 EUR 1,045M 360 Factoring 60 Convertible • • • • After strategic repositioning in summer 2020, raised first equity tranche of CHF 165M Bankable business case - expansion financed by syndicated loan and factoring facility Additional equity and green convertible bond for financial flexibility and expedited growth raised in summer 2021 Successful equity raise of CHF 250M in 2022 Successful placement if a EUR 216M green convertible bond for phase 2 expansion financing and for further financial flexibility in 2023 MEYER BURGER 5#6Following the successful build-up of our 0.4 GW capacity, we are continuing our international capacity growth Cell and module production Meyer Burger planned installed nameplate production capacity, year-end [GW] Cell Module 1.4 1.4 1.0 1.0 0.4 0.4 3.4 3.4 2021 2022 2023e 2024e 4.1 4.1 2025e¹ 6.9 6.9 2026e1 1) Scenario, depending on policy support, e.g. EU Innovation Fund Roadmap: • • • Approximately 1 GW cell and module nameplate capacity installed in Thalheim and Freiberg, Germany, respectively, in 2022 A further ~0.4 GW cell and module capacity expected to become available at the same German sites in 2023 Expansion by another ~2 GW of cell production in Colorado Springs, U.S. by 2024, and module production in Goodyear, Arizona planned (thereof up to 1.4 GW for long-term offtake with DESRI, BayWa and Ingka) MEYER BURGER 6#7. Increasing Goodyear capacity by ~400 MW and replicating DESRI offtake agreement Planned capacity expansion • • Module: increasing Goodyear annual capacity from approximately 1.6 GW to approximately 2 GW with minimal incremental CAPEX Cell: additional equipment for higher cell volume required in Colorado (Colorado Springs, U.S.) Key offtake parameters for incremental volume Customers: two new major developers/offtakers (BayWa and Ingka Investments / IKEA) Term: multi-year starting in 2025 Down payments: down payment for incremental CAPEX as well as substantial recurring annual down payments for working capital Further economically attractive expansion Contractual offtake structure successfully pioneered with DESRI now replicated with new blue chip customers (BayWa and Ingka Investments / IKEA) Compared to DESRI agreement, higher and earlier down payments also cover required CAPEX Expansion to overall approximately 3.4 GW triggers incremental economies of scale that further dilute fixed costs and improve operational margins Additional IRA tax credits to be expected through U.S. module production (partially shared with customers) Further strengthening of Meyer Burger's U.S. footprint Negotiations with further strategic offtake partners in the U.S. and Europe on the back of the offtake model continue to be ongoing MEYER BURGER 7#8Global energy crisis drives further growth in renewable energy, especially in the solar sector Solar energy propelled by energy crisis, but global supply chains need to become more resilient Expected global solar market size by region [GW] 450 • Solar demand has shown to be robust despite significant 400 uptick in cost of all system components, including modules, and despite supply chain disruptions 350 300 • Cost increase is driven by high material prices. Polysilicon as a key driver, remains volatile 250 +12.8% CAGR • War in Ukraine, natural gas shortage and high energy prices in 2022 have further fueled demand for solar 200 150 Almost exclusive regional concentration of PV supply chain in Asia, and the resulting high degree of dependency is becoming a concern for many customers 100 50 0 MEYER BURGER +18.4% CAGR Europe Asia Pacific North America MENAT Sub-Saharan Africa · Central & South America 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Source: Apricum - The Cleantech Advisory, Q1 2022, center scenario, Q1 2023 Europe + U.S., center scenario 8#9Production continuously running, supply chains being further de-risked Modules produced [MW] 321 30 2021 FY MEYER BURGER 108 2022 H1 2022 FY Ongoing production and parallel capacity expansion on track • • • • • A total of 321 MW was produced in 2022 Ramp-up of the second production line commenced in September 2022 Additional production lines (as part of the ongoing 1.4 GW expansion) are expected to eliminate bottlenecks and improve operational performance Supply chain risks are being actively managed in order to maintain continuous production and enable timely ramp-up Meyer Burger continues to de-risk its supply chain (e.g., European wafer supply contracts signed) 9#10Sequentially entering market segments, as we grow available volume Target segments (entered sequentially) 1 Residential rooftop¹ 2 Commercial & industrial rooftop 3 Utility-scale Main market segment • Fully established • Selling through our distributor network 1) Includes small commercial systems MEYER BURGER · Pursuing high-value and strategically relevant projects from Q2/2022 • Modules to be produced in Goodyear, AZ • Offtake agreement signed with three • Won iconic SC Freiburg 2.4 MW stadium project, already installed Planning to expand sales team and customer base • different customers (at least 5.35 GW from 2024-2029) Discussing further long-term agreements with potential strategic partners 10#11Rooftop product with strong unique selling proposition The best. From here. For tomorrow. 1) Compared to currently standard PERC modules offered in market; 2) Maximum figures per data sheet, actually produced and delivered efficiency may be lower; 3) Actual performance depends on application scenario, mode of installation, environmental conditions and other factors; 4) As evidenced by, inter alia: confirmed by Fraunhofer ISE to cause less CO2 emissions per kWh produced compared to conventional standard modules (based on lifecycle assessment); received environmental protection grant from Germany state of Saxony- Anhalt based on environmentally friendly production characteristics; polysilicon in wafers used coming from European manufacturers Wacker, among others; code of conduct for suppliers with respect to environmental and social standards, human rights ☑ MEYER BURGER Strong arguments to buy Meyer Burger module: 4 High performance: Higher efficiency 1 (up to 21.8%), more energy per area 1, 3 High quality: Low degradation and long lifetime (>92% warranty after 25 years) Appealing aesthetics: Almost uniform black appearance "Made in Germany": Cells and modules produced in Germany Swiss innovation: Proprietary next- generation PV technology platform Relatable corporate "story": Strong media presence and credibility Sustainability: High social, environmental standards.4 Module free of toxic lead 11#12Innovation as a driver - Meyer Burger's solar roof tiles Meyer Burger sees great growth potential in the market for integrated solar roof tiles • • • • At the Intersolar trade fair in October 2021, the preview of our envisaged solar roof tile product was a crowd magnet Expansion of existing module portfolio planned with a roof- integrated high-performance solar system that can be installed easily just like traditional roof tiles Meyer Burger expects to be able to increase the overall demand for solar roof tiles with this highly innovative product and to strengthen the company's sustainable business development Solar roof tiles already been certified according to IEC 61215 and IEC 61730, further roofing standard testing passed (e.g., wind/rain test) First pilot installation and first distribution agreement achieved in Q4 2022, first volume sales planned in H2/2023 MEYER BURGER 12#13The next-generation heterojunction technology in the works according to our communicated R&D roadmap Full-size interdigitated back contact HJT 60 cell module prototype Development on track: . • • Phase I: Today's technology, power classes available, best cell efficiencies >25% in mass production. Phase II: HJT-IBC, currently in pilot testing at Meyer Burger Research in Neuchâtel, use in production targeted from 2025 onwards ● • • In-house development of equipment for production of next- generation cells and modules based on HJT technology Increased performance, continuous cost reduction leading Ultra-low degradation Commercial module efficiency of >23% expected in mass manufacturing Phase III: HJT+Perovskite tandem in development with research partners CSEM, Fraunhofer ISE, HZB Berlin, University of Stuttgart MEYER BURGER 13#14Meyer Burger aims to drive the solar module product evolution in utility segment from 2024 Planned product features: • • • Standard utility sizes based on 72 M10 • (182 x 182 mm2) solar cells. Specific new features driving expected performance: glass-glass product combining >90% bifaciality and white module front-side STC-rated power of up to 575 W Extended warranties; certifications for bankability MEYER BURGER ☑MEYER BURGER 14#15New unified product platform delivers value for customers and Meyer Burger - glass is the "ultimate backsheet" New unified product platform from 2024 . Customer advantages – increasing value - • All products to be built with glass as backsheet • Back side can be colored (white, black) or kept transparent ● Same module technology for residential and utility module MEYER BURGER . Lower degradation, better longevity and longer warranty compared to glass/foil backsheet products • • • • Unified product dimensions – white, black and bifacial variants can be seamlessly swapped Lower weight than current glass/glass product, similar to glass/foil product Higher system voltage (1,500 V) Meyer Burger advantages - reducing cost/complexity • . Less product variations reduce overhead and complexity in production, procurement, logistics and engineering Higher production throughput after line optimization Even more coherent strategic positioning as "quality leader" 15#16Industry policy announcements and potential financial support for solar industry relaunch in the European Union TCTF MATCHING CLAUSE (effective) With the TCTF, the European Commission has lifted some state aid restrictions Matching clause under the TCTF makes CAPEX/OPEX support for up to 100% of an investment possible (Nr. 86) Prerequisite: Aid offered by other third country (e.g., through U.S. Inflation Reduction Act) Project must meet a range of conditions (location etc.). The TCTF only provides the state aid framework, Member States need to set up the necessary schemes All funding under the matching clause needs individual state aid notification and approval from the European Commission European Commission ■ NZI-A PREMIUM (in EU Parliament & Council now) " The Net Zero Industry Act (NZI-A) is a regulation proposed by the European Commission. European Parliament and Council still need to approve. Adjustments possible, approval is likely by end of 2023 NZI-A would offer additional support with a Net Zero Resilience Premium (Article 21) and through advantages in renewable energy auctions (Art. 19+20) Member states would be required to establish premium funding for sustainable & resilient products for end consumers: 5% extra on prices that end customer pay for „net-zero resilience" modules Member states would be required to adjust auction results according to net-zero resilience criteria Parts of premiums would then be expected to trickle down to the manufacturer Securing a share of the premium through pricing will be key to additional OPEX support MEYER BURGER 16#17. Outlook 2023 • Ongoing expansion projects in Germany and the U.S., with increased target to achieve approximately 3.4 GW nameplate capacity by end of 2024 Targets for 2023: ~800 MW production Fast track addition of further capacities depending on industry policy implementation in Europe and the U.S. MEYER BURGER 17#18☑ MEYER BURGER With the right energy, anything is possible.