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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): August 20, 2025 (August 15, 2025)

 

T1 Energy Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   333-274434   93-3205861
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

1211 E 4th St.

Austin, Texas 78702

(Address of principal executive offices, including zip code)

 

Registrant’s telephone number, including area code: 409-599-5706

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.01 par value   TE   The New York Stock Exchange
Warrants, each whole warrant exercisable for one Common Stock at an exercise price for $11.50 per share   TE WS   The New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 


 

Item 2.02. Results of Operations and Financial Condition.

 

On August 20, 2025, T1 Energy Inc., a Delaware corporation (the “Company”), issued a press release announcing its financial results for the second quarter ended June 30, 2025.

 

The information set forth under Item 9.01 of this Current Report on Form 8-K is incorporated herein by reference.

 

The information in this Item 2.02, including the Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

Jaime Eduardo Gualy, 56, was appointed by the Company as its Chief Operating Officer (“COO”), effective August 15, 2025. Mr. Gualy previously served as the Company’s Executive Vice President of Corporate Development since January 2025 and as a consultant to the Company since May 2024. Mr. Gualy is the Founder and Managing Partner of Brittmoore Advisors, LLC, a strategic consulting firm specializing in energy. Previously, he co-founded and served as Chief Commercial Officer at Stagecoach Renewables LLC, a company backed by Apollo Global Management focused on acquiring renewable royalties. Additionally, Mr. Gualy was a Managing Director for a boutique energy investment bank and served in senior investment manager roles at Macquarie Capital, Carlyle Blue-Wave, and others.

 

The Company and Mr. Gualy are still finalizing the terms of his compensation for his new role as COO of the Company and such arrangements will be separately announced when finalized.

 

There are no family relationships between Mr. Gualy and any director or other executive officer, nor are there any transactions to which the Company was or is a participant and in which Mr. Gualy has a material interest subject to disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. Gualy and any other persons pursuant to which he was selected as an officer.

 

Item 7.01. Regulation FD Disclosure.

 

The Company is also furnishing a Second Quarter 2025 Earnings Call presentation, dated August 20, 2025 (the “Presentation”), attached as Exhibit 99.2 to this Current Report on Form 8-K, which may be referred to on the Company’s second quarter 2025 conference call to be held on August 20, 2025. The Presentation will also be available on the Company’s website at https://www.t1energy.com.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.   Description
99.1   Press Release, dated August 20, 2025, reporting T1 Energy Inc.’s financial results for the second quarter ended June 30, 2025.
99.2   Second Quarter 2025 Earnings Call presentation.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

1


 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

  T1 Energy Inc.
       
  By: /s/ Daniel Barcelo
    Name:  Daniel Barcelo
    Title: Chief Executive Officer and Chairman of the Board
       
  Dated: August 20, 2025  

 

 

2

 

EX-99.1 2 ea025386501ex99-1_t1energy.htm PRESS RELEASE, DATED AUGUST 20, 2025, REPORTING T1 ENERGY INC.'S FINANCIAL RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2025

Exhibit 99.1

 

    News Release

 

T1 Energy Reports Second Quarter 2025 Results

 

Austin, TX and New York, NY, August 20, 2025, T1 Energy Inc. (NYSE: TE) (“T1,” “T1 Energy,” or the “Company”) has reported financial and operating results for the second quarter 2025 and will hold a conference call today.

 

Headlines

 

§ T1 announces transformative agreement with Corning Incorporated. T1 signed a deal to purchase solar wafers produced by Corning Incorporated (NYSE: GLW) in Michigan, which advances the Company’s FEOC compliance effort, boosts development of a domestic solar supply chain and is expected to position T1 as preeminent supplier of American solar modules at time of rising demand.

 

§ T1 signed a 437 MW 2025 sales agreement with one of the largest U.S. utilities. The Company has been fielding a noticeably elevated cadence of inbound customer inquiries following the passage of the One Big Beautiful Bill (“OBBB”). During the third quarter, T1 entered into a merchant sales contract with a major U.S. utility for deliveries commencing in Q3 2025. With this sales agreement, T1 is now sold out for 2025 at G1_Dallas based on the low end of the Company’s 2.6 GW production plan.

 

§ G2_Austin development progressing. T1’s project development team continues to advance the Company’s $850 million, 5 GW U.S. solar cell plant—the largest planned capital investment in the U.S. polysilicon solar supply chain, according to Rystad Energy. The project is on track to start construction in Q3/Q4 of 2025. As previously disclosed, T1 has elected to develop G2_Austin in two stages of 2.5 GW each. T1 is advancing multiple financing processes to fund G2, including traditional project financing through a consortium of lenders, a mezzanine financing tranche, customer offtake contract deposits, and potential project investments by strategic partners. There is no change to T1’s expectation to start production from the first phase of G2_Austin in Q4 2026. Start of construction remains subject to progress toward achieving compliance with FEOC regulations under the OBBB.

 

 


 

§ Committee on Foreign Investment in the United States (“CFIUS”) provided notification of no jurisdiction over proposed transaction between T1 and Trina Solar. Earlier in 2025 and as noted previously, T1 and Trina jointly filed a voluntary notice with CFIUS. During the second quarter, CFIUS informed the parties that the transaction was not subject to CFIUS jurisdiction.

 

§ T1 is focused on ensuring Section 45X tax credit eligibility. Following the passage of the OBBB, T1’s top strategic priority for 2025 is achieving compliance with FEOC-related requirements to maintain access to the Section 45X Production Tax Credits. T1 is confident in its ability to align the Company’s business plan, strategy, capital structure and supply chain with the OBBB.

 

“Interest in domestic solar is accelerating on several fronts since early July. We’re seeing increased commercial sales, the pace of offtake agreement discussions is quickening, demand from hyperscale AI projects is phenomenal, and there’s growing interest in our G2_Austin solar cell project,” said Daniel Barcelo, T1’s Chief Executive Officer and Chairman of the Board. “It is clear the time to build a domestic solar supply chain is right now. That’s what we’re delivering.”

 

Highlights of Second Quarter 2025 and Subsequent Events

 

§ G1_Dallas reaches 1 GW production milestone. T1 surpassed the 1 GW cumulative production milestone at G1_Dallas in the second quarter. With the recent commercial momentum from the most recent 473 MW sales agreement announced this morning, T1 is now sold out for 2025 based on the low end of the Company’s production plan of 2.6 GW. As of August 2025, T1 has produced more than 1.2 GW of modules at G1 during 2025.

 

§ T1 advances planned G2_Austin 5 GW U.S. solar cell manufacturing project. In June, the Company announced the selection of Yates Construction as the contractor for pre-construction services and site preparations for its planned $850 million, G2_Austin solar cell facility. Yates joins SSOE Group, which has been providing project engineering for G2_Austin since December 2024. T1 also secured a long-term tax abatement from Milam County, Texas, for the facility.

 

Business Outlook and Guidance

 

§ Maintaining 2025 EBITDA guidance of $25 - $50 million, forecast risks skewing to downside. T1’s 2025 full-year EBITDA guidance of $25 - $50 million is unchanged. A mix shift towards merchant sales agreements in H2 2025, the emergence of near-term uncertainties related to implementation of AD/CVDs, reciprocal tariffs, supply chain impacts, and customer safe harboring backlogs have skewed risks towards or below the low-end of the guidance range. T1’s guidance range assumes 2025 G1_Dallas production of 2.6 GW and no additional merchant sales in H2 2025. There are no changes to T1’s projected $650 - $700 million annual run-rate EBITDA estimate based on optimized production at G1_Dallas and G2_Austin.

 

§ Update on European Portfolio Optimization. T1 accelerated the wind down of its legacy European operations in the second quarter. The Company has subsequently initiated a strategic communications campaign to highlight the potential value of Giga Arctic repurposed as a data center or AI infrastructure hub, subject to the restoration of previously granted power access by the Norwegian state-owned power grid operator. T1 intends to continue to pursue value maximizing opportunities for its European portfolio and will continue to provide updates as warranted.

 

2


 

Q2 2025 Results Overview

 

§ T1 Energy reported a net loss attributable to common stockholders for the second quarter 2025 of $32.8 million, or $0.21 per diluted share compared to a net loss of $27.0 million, or $0.19 per diluted share for the second quarter of 2024. Net loss from continuing operations was $31.8 million, or $0.20 per diluted share for the second quarter of 2025 compared to $10.3 million or $0.07 per diluted share for the second quarter of 2024. Net loss from discontinued operations was less than $0.1 million or $0.00 per diluted share for the second quarter of 2025 compared to $16.8 million or $0.12 per diluted share for the second quarter of 2024.

 

§ As of June 30, 2025, T1 had cash, cash equivalents, and restricted cash of $46.7 million.

 

Presentation of Second Quarter 2025 Results

 

A presentation will be held Wednesday, August 20, 2025, at 8:00 am Eastern Daylight Time to discuss financial and operating results for the second quarter. The results and presentation material will be available for download at https://ir.t1energy.com.

 

To access the conference call, listeners should proceed as follows:

 

1. Click on the call link and complete the online registration form.

 

2. Upon registering, you will receive dial-in information and a unique PIN to join the call as well as an email confirmation with details.

 

3. Select a method for joining the call:

 

a. Dial in: A dial in number and unique PIN are displayed to connect directly by phone.

 

b. Call Me: Enter your phone number and click “Call Me” for an immediate callback from the system. The call will come from a U.S. number.

 

The call will also be available by clicking the webcast link.

 

About T1 Energy

 

T1 Energy Inc. (NYSE: TE) is an energy solutions provider building an integrated U.S. supply chain for solar and batteries. In December 2024, T1 completed a transformative transaction, positioning the Company as one of the leading solar manufacturing companies in the United States, with a complementary solar and battery storage strategy. Based in the United States with plans to expand its operations in America, the Company is also exploring value optimization opportunities across its portfolio of assets in Europe.

 

To learn more about T1, please visit www.T1energy.com and follow us on social media.

 

Investor contact:

 

Jeffrey Spittel

EVP, Investor Relations and Corporate Development This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

jeffrey.spittel@T1energy.com

Tel: +1 409 599-5706

 

Media contact:

 

Russell Gold

EVP, Strategic Communications
russell.gold@T1energy.com

Tel: +1 214 616-9715

 

3


 

Cautionary Statement Concerning Forward-Looking Statements:

 

All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation with respect to the Company’s financial, production and operational guidance; the expected benefits of the agreement with Corning, including boosting the U.S. solar supply chain and the advancement of the Company’s FEOC compliance efforts; the positioning of the Company as a preeminent supplier of American solar modules at time of rising demand; the impact of the OBBB on customer demand; the timeline for start of construction and development of G2_Austin and potential financing sources for the project; the Company’s ability to align its business plan, strategy, capital structure and supply chain with the OBBB to maintain 45X tax credits eligibility; rising demand in domestic solar; the impact on the Company of uncertainties related to implementation of AD/CVDs, reciprocal tariffs, supply chain impacts, and customer safe harboring backlogs; and the Company’s wind down of its legacy European operations in a manner that maximizes value. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual future events, results, or achievements to be materially different from the Company’s expectations and projections expressed or implied by the forward-looking statements. Important factors include, but are not limited to, those discussed under the caption “Risk Factors” in (i) T1’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2025, as amended and supplemented by Amendment No. 1 on Form 10-K/A filed with the SEC on April 30, 2025, (ii) T1’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025 filed with the SEC on May 15, 2025, as amended and supplemented by Amendment No. 1 on Form 10-Q/A filed with the SEC on August 18, 2025, (iii) T1’s Quarterly Report on Form 10-Q for the period ended June 30, 2025, filed with the SEC on August 19, 2025, (iv) T1’s Post-Effective Amendment No. 1 to the Registration Statement on Form S-3 filed with the SEC on January 4, 2024, and (v) T1’s Registration Statement on Form S-4 filed with the SEC on September 8, 2023 and subsequent amendments thereto filed on October 13, 2023, October 19, 2023 and October 31, 2023.

 

All of the above referenced filings are available on the SEC’s website at www.sec.gov. Forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company assumes no obligation to update such forward-looking statements, all of which are expressly qualified by the statements in this section, whether as a result of new information, future events or otherwise, except as required by law.

 

T1 intends to use its website as a channel of distribution to disclose information which may be of interest or material to investors and to communicate with investors and the public. Such disclosures will be included on T1’s website in the ‘Investor Relations’ section. T1, and its CEO and Chairman of the Board, Daniel Barcelo, also intend to use certain social media channels, including, but not limited to, X, LinkedIn, and Instagram, as means of communicating with the public and investors about T1, its progress, products, and other matters. While not all the information that T1 or Daniel Barcelo post to their respective digital platforms may be deemed to be of a material nature, some information may be. As a result, T1 encourages investors and others interested to review the information that it and Daniel Barcelo posts and to monitor such portions of T1’s website and social media channels on a regular basis, in addition to following T1’s press releases, SEC filings, and public conference calls and webcasts. The contents of T1’s website and its and Daniel Barcelo’s social media channels shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

 

4


 

T1 ENERGY INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

(Unaudited)

 

    June 30,
2025
    December 31,
2024
 
ASSETS            
Current assets:            
Cash and cash equivalents   $ 8,451     $ 72,641  
Restricted cash     31,054       4,004  
Accounts receivable trade, net - related parties     34,584        
Government grants receivable, net     44,657       687  
Inventory     326,222       274,549  
Advances to suppliers     146,107       164,811  
Other current assets     2,402       1,569  
Current assets of discontinued operations     51,048       64,909  
Total current assets     644,525       583,170  
Restricted cash     7,159        
Property and equipment, net     296,729       285,187  
Goodwill     60,923       74,527  
Intangible assets, net     256,575       281,881  
Right-of-use asset under operating leases     147,991       111,081  
Total assets   $ 1,413,902     $ 1,335,846  
LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY                
Current liabilities:                
Accounts payable   $ 73,167     $ 61,708  
Accrued liabilities and other     63,354       91,346  
Deferred revenue     90,943       48,155  
Derivative liabilities     805       14,905  
Current portion of long-term debt     46,758       42,867  
Current portion of long-term debt - related party     66,500       51,500  
Payables to related parties     130,654       52,534  
Current liabilities of discontinued operations     39,616       51,009  
Total current liabilities     511,797       414,024  
Long-term deferred revenue     28,000       32,000  
Convertible note - related party     80,698       80,698  
Operating lease liability     139,624       101,787  
Long-term debt     166,371       188,316  
Long-term debt - related party     230,880       238,896  
Deferred tax liability     14,233       21,227  
Other long-term liabilities     8,236       21,761  
Total liabilities     1,179,839       1,098,709  
Commitments and contingencies                
Redeemable preferred stock                
Convertible series A preferred stock, $0.01 par value, 5,000 issued and outstanding as of both June 30, 2025 and December 31, 2024 (includes accrued dividends and accretion of $1,869 and $87 as of June 30, 2025 and December 31, 2024, respectively)     50,157       48,375  
Stockholders’ equity:                
Common stock, $0.01 par value, 155,938 issued and outstanding as of June 30, 2025 and 155,928 issued and outstanding as of December 31, 2024     1,559       1,559  
Additional paid-in capital     975,161       971,416  
Accumulated other comprehensive loss     (19,428 )     (58,975 )
Accumulated deficit     (773,386 )     (725,238 )
Total equity     183,906       188,762  
Total liabilities, redeemable preferred stock and equity   $ 1,413,902     $ 1,335,846  

 

5


 

T1 ENERGY INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except per share amounts)

(Unaudited)

 

    Three months ended June 30,     Six months ended  June 30,  
    2025     2024     2025     2024  
Net sales   $ 66,465     $     $ 66,465     $  
Net sales - related party     66,302             119,754        
Total net sales     132,767             186,219        
Cost of sales     100,006             135,677        
Gross profit     32,761             50,542        
Selling, general and administrative     61,972       13,684       103,364       28,688  
Loss from continuing operations     (29,211 )     (13,684 )     (52,822 )     (28,688 )
Other (expense) income:                                
Warrant liability fair value adjustment     (220 )     52       1,347       198  
Derivative liabilities fair value adjustment     1,048             26,277        
Interest (expense) income, net     (8,045 )     1,148       (17,898 )     2,553  
Foreign currency transaction (loss) gain     (30 )     20       (44 )     574  
Other (expense) income, net     (1,369 )     2,128       (1,335 )     3,722  
Total other (expense) income     (8,616 )     3,348       8,347       7,047  
Loss from continuing operations before income taxes     (37,827 )     (10,336 )     (44,475 )     (21,641 )
Income tax benefit (expense)     5,979       (11 )     8,492       (11 )
Net loss from continuing operations     (31,848 )     (10,347 )     (35,983 )     (21,652 )
Net loss from discontinued operations, net of tax     (61 )     (16,814 )     (12,165 )     (34,199 )
Net loss     (31,909 )     (27,161 )     (48,148 )     (55,851 )
Net loss attributable to non-controlling interests           174             321  
Preferred dividends and accretion     (891 )           (1,782 )      
Net loss attributable to common stockholders   $ (32,800 )   $ (26,987 )   $ (49,930 )   $ (55,530 )
                                 
Weighted average shares of common stock outstanding - basic and diluted     155,938       140,107       155,936       139,905  
Net loss per share from continuing operations - basic and diluted   $ (0.20 )   $ (0.07 )   $ (0.23 )   $ (0.15 )
Net loss per share from discontinued operations - basic and diluted   $     $ (0.12 )   $ (0.08 )   $ (0.24 )
Net loss per share attributable to common stockholders - basic and diluted   $ (0.21 )   $ (0.19 )   $ (0.32 )   $ (0.40 )
                                 
Other comprehensive loss:                                
Net loss   $ (31,909 )   $ (27,161 )   $ (48,148 )   $ (55,851 )
Foreign currency translation adjustments     13,482       4,862       39,547       (21,182 )
Total comprehensive loss     (18,427 )     (22,299 )     (8,601 )     (77,033 )
Comprehensive loss attributable to non-controlling interests           174             321  
Preferred dividends and accretion     (891 )           (1,782 )      
Comprehensive loss attributable to common stockholders   $ (19,318 )   $ (22,125 )   $ (10,383 )   $ (76,712 )

 

6


 

T1 ENERGY INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

    Six months ended June 30,  
    2025     2024  
Cash flows from operating activities:            
Net loss   $ (48,148 )   $ (55,851 )
Adjustments to reconcile net loss to cash used in operating activities:                
Share-based compensation expense     5,220       5,044  
Depreciation and amortization     43,598       4,578  
Change in fair value of derivative liabilities     (26,277 )      
Gain on sale of property and equipment     (5,675 )      
Accretion of discount on long-term debt     7,923        
Reduction in the carrying amount of right-of-use assets     3,259       732  
Warrant liability fair value adjustment     (1,347 )     (198 )
Deferred income taxes     (6,994 )      
Share of net loss of equity method investee     425       334  
Foreign currency transaction net unrealized gain     251       (1,188 )
Other     2,882        
Changes in assets and liabilities:                
Inventory     (51,673 )      
Advances to suppliers and other current assets     29,904       2,038  
Accounts receivable trade     (34,584 )      
Government grants receivable     (43,970 )      
Accounts payable, accrued liabilities and other     75,035       310  
Deferred revenue     38,788        
Net cash used in operating activities     (11,383 )     (44,201 )
Cash flows from investing activities:                
Proceeds from the return of property and equipment deposits     1,202       22,735  
Purchases of property and equipment     (51,943 )     (29,099 )
Proceeds from the sale of property and equipment     50,000        
Net cash used in investing activities     (741 )     (6,364 )
Cash flows from financing activities:                
Repayment of debt     (14,874 )      
Debt fees paid     (3,760 )      
Net cash used in financing activities     (18,634 )      
Effect of changes in foreign exchange rates on cash, cash equivalents, and restricted cash     777       (3,640 )
Net decrease in cash, cash equivalents, and restricted cash     (29,981 )     (54,205 )
Cash, cash equivalents, and restricted cash at beginning of period     76,645       275,742  
Cash, cash equivalents, and restricted cash at end of period   $ 46,664     $ 221,537  

 

7

 

EX-99.2 3 ea025386501ex99-2_t1energy.htm SECOND QUARTER 2025 EARNINGS CALL PRESENTATION

Exhibit 99.2

 

 


_0 1 TM Q2 2025 Earnings Call August 20, 2025 T1 Energy _ Q2 2025 Earnings Call G1_Dallas Pictured: Production lines at G1_Dallas _0 2 TM T1 Energy _ Q2 2025 Earnings Call Important Notices Forward Looking Statements This presentation contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . All statements, other than statements of present or historical facts included in this presentation, including, without limitation, with respect to T1 Energy Inc.'s ("T1") strategy of developing an integrated U.S. solar and storage leade r, power U.S. AI development and energy dominance and establishing a domestic solar supply chain; the policy and regulatory developments, including the AD/CVD investigation and Section 232 cases that may impact T1’s operation and financia l p erformance and the solar industry, and T1’s ability to strengthen its competitive position in alignment with recent policy changes; T1’s ability to comply with the requirements of Public Law 119 - 21 (commonly known as the One Big Beautiful Bill Act) as enacted on July 4, 2025 (the “OBBB”) within the given deadlines under the OBBB; T1’s ability to build commercial traction with U.S. customers; T1’s ability to generate meaningful long - term shareholder value; T1's project financing and development of G2_Austin and related timeline; T1’s financial and operating performance and guidance; the growth of U.S. electricity demand; T1’s commercial presence and ability to grow its U.S. customer base; T1’s ability to meet its production plan and pursue strategic partnerships; the expected benefits to T1 and its customers on the expanded supply agreement with Corning, as well as the expected ability to support a total of nearly 6,000 American jobs between the c omp anies’ U.S. facilities; timing of deliveries under the Corning agreement and T1’s ability to provide customers with surety of supply via traceable, American - made components; T1’s commitment to domestic content, including securing a domestic val ue chain with target that includes at least 50+% content/components from entities that do not qualify as prohibited foreign entities before year - end 2025, and achieve 70+% U.S. Bill of Materials by year - end 2026; T1’s capital formati on opportunities; the ramp up of production and revenues at G1_Dallas; discussions with utilities/developers to explore strategic partnerships; T1’s action plan in relation to recent policy changes including the OBBB, Section 232 investi gat ion and AD/CVD and reciprocal tariffs; T1’s ability to maintain 45X eligibility, build out T1’s U.S. supply chain and align the Trina relationship with the OBBB tax credit eligibility criteria; T1’s liquidity profile and monetization of Section 45X PTC s; T1’s ability to meet its strategic road map on compliance, vertical integration and cash flow, are forward - looking statements. These forward - looking statements involve significant risks and uncertainties that could cause the actual results to differ mater ially from the expected results. Most of these factors that could impact T1's results are outside T1’s control and are difficult to predict. Additional information about factors that could materially affect T1 is set forth under the “Risk Facto rs” section in ( i ) T1's Annual Report on Form 10 - K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2025, as amended and supplemented by Amendment No. 1 on Form 10 - K/A filed with the SEC on April 30, 2025, (ii) T1’s Quarterly Report on Form 10 - Q for the quarterly period ended March 31, 2025 filed with the SEC on May 15, 2025, as amended and supplemented by Amendment No. 1 on Form 10 - Q/A filed with the SEC on Aug ust 18, 2025, (iii) T1's Quarterly Report on Form 10 - Q for the period ended June 30, 2025, filed with the SEC on August 19, 2025, (iv) T1’s Post - Effective Amendment No. 1 to the Registration Statement on Form S - 3 filed with the SEC on Jan uary 4, 2024, and (v) T1’s Registration Statement on Form S - 4 filed with the SEC on September 8, 2023 and subsequent amendments thereto filed on October 13, 2023, October 19, 2023 and October 31, 2023, each of which are available o n t he SEC’s website at www.sec.gov . Except as otherwise required by applicable law, T1 disclaims any duty to update any forward - looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this presentation. Should any underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward - looking statements. T1 intends to use its website as a channel of distribution to disclose information which may be of interest or material to in ves tors and to communicate with investors and the public. Such disclosures will be included on T1’s website in the ‘Investor Relations’ section. T1, and its CEO and Chairman of the Board, Daniel Barcelo, also intend to use certain social me dia channels, including, but not limited to, X, LinkedIn and Instagram, as means of communicating with the public and investors about T1, its progress, products, and other matters. While not all the information that T1 or Daniel Barcelo post t o t heir respective digital platforms may be deemed to be of a material nature, some information may be. As a result, T1 encourages investors and others interested to review the information that it and Daniel Barcelo posts and to monitor such por tio ns of T1’s website and social media channels on a regular basis, in addition to following T1’s press releases, SEC filings, and public conference calls and webcasts. The contents of T1’s website and its and Daniel Barcelo’s social media cha nne ls shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

 


 


_0 3 TM Participants and Agenda T1 Energy _ Q2 2025 Earnings Call Daniel Barcelo Chairman of the Board and Chief Executive Officer Evan Calio Chief Financial Officer Jaime Gualy Chief Operating Officer ▪ Key messages ▪ Business updates ▪ Concluding remarks ▪ 2025 operating and financial guidance unchanged ▪ Financial summary ▪ Policy overview ▪ T1’s OBBB compliance road map Prepared Remarks Q&A J eff Spittel EVP, Investor Relations and Corporate Development Andy Munro Chief Legal & Policy Officer ▪ Corning supply agreement _0 4 TM T1 Energy _ Q2 2025 Earnings Call Key Messages Time to Build: T1 is executing its strategy to build an integrated U.S. solar + storage leader Expanding T1’s U.S. supply chain ▪ Announced transformative strategic agreement with an affiliate of Corning Incorporated to source U.S. - made solar wafers Policy developments align with T1’s position and strategy ▪ One Big Beautiful Bill (“OBBB”) preserves Section 45X tax credits through 2032 and maintains stacking and transferability ▪ T1 cleared CFIUS review and is confident in ability to comply with FEOC requirements in the OBBB ▪ Launches of AD/CVD and Section 232 cases support T1’s U.S. advanced manufacturing strategy Building commercial traction with major U.S. customers ▪ Executed 473 MW module sales agreement for H2 2025 deliveries with major utility ▪ T1 is now sold out of 2025 inventory at G1_Dallas under the 2.6 GW low - end of 2025 production guidance Positioning T1 to generate meaningful long - term shareholder value ▪ Advancing G2_Austin development in two phases of 2.5 GW with start of phase one production planned for Q4 2026 ▪ Maintaining 2025 EBITDA guidance of $25 - $50 million; H2 2025 risks skewed to or below the downside of range ▪ T1’s vision is to power U.S.

 


AI development and energy dominance _0 5 TM T1 Energy _ Q2 2025 Earnings Call Time To Build: AI Needs Power Now T1 is positioned to power the AI - driven U.S. electricity demand growth super - cycle AI is transforming the trajectory of U.S. electricity demand growth ▪ After 20 years of negligible growth, the emergence of AI and other structural trends are expected to catalyze a U.S. electricity super - cycle Solar + storage is required to power U.S. AI development ▪ Rapid demand growth requires timely deployment of new generation capacity ▪ Solar + storage installations remain the fastest and most cost - effective solution to deploy to the grid T1 has a significant role to play as a leading U.S. solar manufacturer ▪ T1 is building a significant sales channel with U.S. utilities, developers, and IPPs based on interest in T1’s products and expanding U.S. supply chain ▪ T1 is implementing its plan to establish domestic solar supply chain ▪ Establishing domestic solar manufacturing supply chains is fundamental to safeguarding U.S. energy security U.S. Electricity Demand is Growing Meaningfully Source: Rystad Energy, June 2025.

 


_0 6 TM T1 Energy _ Q2 2025 Earnings Call Commercial Update Sig ned 473 MW sales agreement with major U.S. utility ▪ Deliveries commence in Q3 2025 ▪ Customer has interest in significant G2_Austin volumes T1 is sold out under 2025 G1_Dallas low - end of 2025 production plan ▪ Expanding customer universe and recent spot sales underscore T1’s commercial traction ▪ Fielding elevated level of inbound safe - harboring inquiries post OBBB Pursuing strategic partnerships supported by long - term offtakes ▪ T1 is in active dialogues with large U.S. utilities, IPPs, and project developers ▪ Demonstrated compliance with FEOC regulations is expected catalyst for long - term G1/G2 offtake agreements T1 is maturing its commercial presence and growing its U.S.

 


customer base T1 Commercial Pursuit Funnel for G1/G2 Opportunity set of 58.8 GW _0 7 TM T1 Energy _ Q2 2025 Earnings Call T1’s Expanded Supply Agreement with Corning Major step forward in T1’s plan to establish a domestic solar value chain Summary of transaction: ▪ T1 will source hyper - pure polysilicon and solar wafers produced by Corning at its Michigan campus, which includes Hemlock Semiconductor ▪ Wafer supply is expected to commence with the anticipated H2 2026 start of production at G2 Expected benefits to T1 and customers: ▪ Significant step towards achieving FEOC Bill of Materials compliance before year - end 2025 ▪ Aligns with T1’s strategy to competitively differentiate as a domestic manufacturer of high - efficiency solar modules ▪ Provides customers with surety of supply via traceable, American - made components Investing in advanced American manufacturing: ▪ Expect to support a total of nearly 6,000 American jobs between the companies’ U.S. facilities ▪ Building a secure U.S. solar value chain to benefit from OBBB policy framework ▪ Maturing the U.S. polysilicon supply chain is equally critical for the domestic semiconductor industry T1’s Expanding U.S.

 


Solar Supply Chain _0 8 TM T1’s Commitment to Domestic Content T1 is positioned to address growing customer demand for high - performance solar modules built with U.S. components Domestic supply chain build out underway ▪ Announcement of U.S. wafer supply agreement with Corning is first major step towards FEOC Bill of Materials compliance for 2026 ▪ Advancing initial 2.5 GW phase for G2_Austin, T1’s U.S. solar cell facility ▪ Evaluating additional capital light opportunities to expand T1’s U.S. supply chain footprint through strategic partnerships Strategy aligns with customer demand ▪ Customer inbound inquiries for G1 modules and G2 cells have increased noticeably since passage of OBBB ▪ T1’s customers have pipeline of safe harbored projects through 2029/2030 ▪ Developers want surety of supply and domestic content ▪ Simplifies project execution and enhances project returns T1’s Projected 2027 U.S. Bill of Materials T1 believes it is the ideal safe harboring partner for U.S.

 


developers T1 Energy _ Q2 2025 Earnings Call _0 9 TM T1 Energy _ Q2 2025 Earnings Call G2_Austin Update T1 is moving forward with the first development phase of its planned U.S. solar cell manufacturing facility G2 Austin Rendering G2_Austin development plan ▪ As disclosed previously, T1 is pursuing two phase development of G2_Austin of 2.5 GW each ▪ Total projected capex of $850 million, making it largest planned capital investment in polysilicon solar manufacturing in U.S., according to Rystad Energy ▪ Finalizing selection of exclusive Production Line Equipment vendor ▪ Targeting start of construction in Q3/Q4 2025 Advancing G2_Austin capital formation initiatives in parallel ▪ Progressing traditional project financing with consortium of G1_Dallas lenders ▪ Launched mezzanine financing process ▪ Second $50 million tranche of preferred stock with certain funds and accounts managed by Encompass Capital Advisors LLC available ▪ Customer offtake discussions with prospective strategic partners ongoing _0 10 TM T1 Energy _ Q2 2025 Earnings Call G1_Dallas Operations Update Revenues expected to ramp in H2 2025 with customer deliveries Production status ▪ Produced 1,222 MW of solar modules in 2025 through August 11 th , 2025 ▪ Maintaining 2025 production plan of 2.6 – 3.0 GW ▪ One of three production line conversions to TOPCon complete – producing PERC modules at the request of a customer from remaining two lines Sales update ▪ T1 generated Q2 2025 sales of $132.8 million ▪ T1 is in discussions with several large utilities/developers to explore strategic partnerships tied to multi - year offtake contracts * Q3 TD 2025 production/sales through August 11, 2025 G1_Dallas 2025 Production and Sales Summary

 


 


_0 11 TM T1 Energy _ Q2 2025 Earnings Call Policy Overview ▪ The Section 45X tax credits are available through 2032, providing a key incentive for T1 to accelerate U.S. supply chain development strategy ▪ Key stackability and transferability provisions of Section 45X preserved, in alignment with T1’s vertical integration plan T1 is strengthening its competitive position in alignment with recent policy changes OBBB Continuity ▪ Align operations and supply chain to achieve compliance with all FEOC eligibility requirements ▪ Develop G2_Austin to augment domestic content leadership in tandem with Corning U.S. wafer agreement ▪ Work with developers to facilitate qualification for 10% domestic content ITC bonus T1’s Action Plan ▪ U.S. Secretary of Commerce has initiated an investigation into the use of foreign - sourced polysilicon and derivatives, including solar wafers, cells and modules ▪ Commerce officials have indicated a preference to expedite the investigation and potential remedies Section 232 Investigation ▪ Solar 4 AD/CVD case has been initiated covering certain imports from Indonesia, Laos and India ▪ Reciprocal tariffs apply to several countries that are entrenched in the global solar and polysilicon supply chains AD/CVD and Reciprocal Tariffs ▪ T1’s expanded supply contract with Corning intended to provide a competitive advantage over U.S. producers using foreign - sourced polysilicon and components ▪ T1 has submitted public comments to the Commerce Department expressing support for Section 232 tariffs ▪ T1 believes it will be the leading U.S. solar manufacturer sourcing U.S. polysilicon T1’s Action Plan/Position ▪ T1 has declared its support for AD/CVD duties on the record in the Solar 4 case ▪ Express broad support for tariffs that are intended to benefit U.S.

 


solar manufacturing, investment in technology transfer and onshoring T1’s Action Plan/Position _0 12 TM T1 Energy _ Q2 2025 Earnings Call T1’s Countdown to Compliance Playbook Maintaining 45x eligibility is T1’s top strategic priority for 2025 ▪ Establish a Bill of Materials of 50+% Non FEOC content/components before year - end 2025 ▪ Build on early mover advantage from the Corning/Hemlock U.S. wafer agreement ▪ Position T1 to integrate U.S. supply chain from polysilicon to modules ▪ Pursue ‘synthetic’ capital light partnership opportunities to accelerate domestic supply chain development ▪ Competitively differentiate T1 as a TOPCon module manufacturer who can provide U.S.

 


developers with surety of FEOC compliant sup ply at scale Build Out T1’s Non - FEOC Supply Chain ▪ Comply with ownership, governance, debt and IP requirements ▪ Make any necessary adjustments, including in Trina relationship, to ensure compliance Additional FEOC - Related Requirements _0 13 TM T1 Energy _ Q2 2025 Earnings Call Risks to H2 2025 financial performance skewing towards or below low - end of range Maintaining 2025 Operating and Financial Guidance Production: Maintaining 2025 production guidance of 2.6 – 3.0 GW ▪ T1 is sold out for 2025 based on 2.6 GW production plan EBITDA: Maintaining 2025 full - year guidance of $25 - $50 million ▪ Risks in H2 2025 skewed to or below low - end of forecast range ▪ Higher mix of merchant sales agreements in H2 2025 ▪ Uncertainties posed by AD/CVD impacts on costs and contract economics ▪ Potential reciprocal tariff impacts on supply chain ▪ Working with customers to match deliveries under existing contracts/agreements with project safe harboring G1/G2 integrated: no changes to guidance of $650 - $700 million ▪ Heightened customer interest in T1’s U.S.

 


cells and domestic content post OBBB ▪ Achieving FEOC compliance is prerequisite to unlock long - term offtake contracts T1 2025E Guidance Summary Operting and Financial Guidance Summary 2025E Integrated G1_Dallas + G2_Austin (both phases) Run Rate Annual Module Production (GW) 2.6 - 3.0 5.0 Estimated EBITDA ($MM) $25 - $50 $650 - $700 _0 14 TM T1 Energy _ Q2 2025 Earnings Call Summary of T1 financial position T1 Financial Summary T1 revenues ramped in Q2 2025 with G1 fully operational ▪ Generated Q2 revenues of $132.8 million from G1_Dallas ▪ Timing of Q2 customer shipments later than initially anticipated T1’s liquidity profile supports growth ambitions ▪ Unrestricted cash balance at end of Q2 reflects timing of payments/receipts ▪ T1 made significant investments in inventory during Q2 to satisfy growing customer demand ▪ Expect to begin monetizing Section 45X PTCs in Q3 2025 ▪ Amendment to make second tranche of $50 million preferred stock with certain funds and accounts managed by Encompass Capital Advisors LLC available T1 Balance Sheet Summary As of 30 - Jun - 24 As of 30 - Jun - 25 $ in millions $222 $47 Cash, cash equivalents, and restricted cash $13 $598 Other current Assets $327 $297 Net, property, plant & equipment $47 $472 Other Assets $644 $1,414 Total Assets $35 $512 Current Liabilities $46 $668 Other liabilities $0 $50 Preferred Stock $562 $184 Shareholders’ equity $644 $1,414 Total Liabilities & Equity _0 15 TM T1 Energy _ Q2 2025 Earnings Call T1’s Strategic Road Map Positioning T1 as an Advanced American Manufacturing leader in the U.S. solar + storage market ▪ OBBB introduced FEOC criteria that solar manufacturers must meet by year - end 2025 to maintain eligibility for 45X tax credits ▪ T1 cleared CFIUS review and work on domestication of supply chain has been underway for 18+ months. Based on this head start, T1 is confident in ability to comply with the OBBB requirements. ▪ Expanded Corning/Hemlock agreement is a major step forward to reach the FEOC supply chain threshold by year - end 2025 ▪ The OBBB, Section 232 probe, and reciprocal tariffs align with T1’s strategy to establish a domestic solar supply chain ▪ Capital formation initiatives fund G2_Austin construction ▪ Expand domestic value chain with target of 70%+ U.S. Bill of Materials by year - end ▪ Ramp sales and production at G1_Dallas ▪ Build long - term customer offtake portfolio for G1/G2 through strategic partnerships ▪ Engage with strategic partners to explore opportunities to invest in T1’s assets ▪ Construct and start production of first 2.5 GW phase of G2_Austin ▪ Initiate construction of second 2.5 GW phase of G2_Austin ▪ Bring second 2.5 GW phase of G2_Austin online ▪ Achieve integrated G1/G2 EBITDA run - rate of $600 - $700 million ▪ Commercialize solar + storage development strategy to support AI infrastructure 2025: Countdown to Compliance 2027: Establish Cash Flow Powerhouse 2026: Bridge to Vertical Integration