Solaris Energy Infrastructure (SEI) investor relations material

Executive summary

• Achieved exceptional commercial and operational execution in Q1 2026, advancing long-term growth strategy and expanding business base, particularly in power solutions for data centers and industrial clients.

• Revenue grew 55% year-over-year to $196.2 million for Q1 2026, driven by strong expansion in the Solaris Power Solutions segment and major new contracts in the AI data center market.

• Secured over 2 GW of power generation under long-term contracts with three leading technology companies, including a new 10-year, 600+ MW contract, with more than half contracted in the last two months for 10-15 year terms.

• Closed two strategic transactions, including the Genco Acquisition and NovaLT16 Turbine Acquisition, expanding generation capacity by over 40% to 3,100 MW and diversifying equipment supplier base.

• Enhanced turnkey solution capabilities, including generation, distribution, storage, and balance of plant, deepening customer integration and increasing project returns.

Financial highlights

• Q1 2026 revenue reached $196.2 million, up from $126.3 million year-over-year and $180 million in Q4 2025.

• Adjusted EBITDA for Q1 2026 was $95.1 million, up from $57.9 million year-over-year and $69 million in Q4 2025.

• Net income attributable to common shareholders was $20.7 million, or $0.32 per diluted share; adjusted pro forma EPS was $0.44.

• Solaris Power Solutions operated over 900 MW during the quarter, with Adjusted EBITDA up more than 30% sequentially to $72 million.

• Logistics Solutions segment averaged 104 fully utilized systems, generating $23 million in Segment-Adjusted EBITDA.

Outlook and guidance

• Raised Q2 2026 Adjusted EBITDA guidance to $83–93 million (previously $76–84 million); Q3 2026 guidance set at $80–95 million.

• Power Solutions segment Q2 2026 Adjusted EBITDA guidance: $72–81 million; Logistics Solutions: $22–24 million.

• Pro forma generation capacity expected to reach 3,100 MW with recent and planned additions, providing visibility into earnings and cash flow for the next 10–15 years.

• Pro forma Adjusted EBITDA for 3.1 GW delivered and operating could exceed $1 billion annually, with further upside from scope expansion.

• Effective tax rate on pro forma pre-tax income projected at 26%.