T1 Energy Inc Q2 FY2025 earnings call

• The One Big Beautiful Bill passed, preserving stackable, transferable Section 45X tax credits through 2032, aiding T1's competitiveness. • Strategic agreement with Corning announced, expanding U.S. supply chain and supporting domestic jobs. • Completed CFIUS review of Trina transaction, providing flexibility. • Supported solar antidumping and Section 232 investigation to protect U.S. manufacturers. • Secured 473-megawatt merchant sales agreement for 2025 deliveries, sold out low end of 2.6 gigawatt production plan. • G2_Austin project progressing with two phases, targeting Q4 2026 first production, with project development team preparing for construction. • Expanding U.S. supply chain to enhance competitive position, sourcing materials from domestic and non-FEOC suppliers. • Active commercial pipeline with various gigawatt-sized pursuits in different stages.

No specific product segment financial performance with absolute terms and revenue contribution % provided.

• Maintained 2025 EBITDA guidance of $25 million to $50 million, but near-term risks skew downside due to factors like merchant sales margins, AD/CVD impacts, and safe harbor project timing. • Integrated annual EBITDA run rate guidance for 5-gigawatt G1_Dallas and fully operational G2_Austin remains $650 million to $700 million.

• Higher mix of merchant agreements in 2025 with lower margins. • Uncertain near-term impacts on cost and contract economics from AD/CVD, reciprocal tariffs, and contract interpretations. • Timing uncertainties associated with safe harbor projects among customers.

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