Shoals Technologies Group (SHLS) JP Morgan Energy, Power and Renewables Conference summary

Project timing and industry trends

• Project delays are occurring for various reasons, with no single cause across sites; industry publications and EIA data are highlighting these delays.

• Despite delays, demand remains strong, with record levels of quote activity and confidence in Q2 guidance.

• Delays are not leading to market share loss; sales cycles are long, and market outperformance continues.

• No significant impact from recent AD/CVD cases due to ample panel supply; some short-term delays from domestic content alignment.

• Election risk is not a major concern for customers; industry growth is expected to continue regardless of political outcomes.

Competitive position and customer engagement

• Market share remains strong, with opportunities to grow wallet share among existing customers.

• Customer engagement is high, and the company is leveraging warranty issues as touchpoints to strengthen relationships.

• No incremental warranty charges for two quarters; remediation and litigation processes are ongoing.

Legal and regulatory updates

• ITC litigation against competitors is progressing, with an initial determination expected July 12 and a final ruling in November.

• The ITC case seeks to bar importation of infringing products; damages would be pursued separately in district court.