T1 Energy (TE) Q4 2025 Earnings Transcript

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Date

Tuesday, May 12, 2026 astatine 8:00 a.m. ET

Call participants

• Chief Executive Officer — Daniel Barcelo

• Senior Vice President, Project Engineering — Otto Erster Bergesen

• Chief Financial Officer — Evan Calio

• Vice President, Investor Relations & Corporate Communications — Jeffrey Spittel

• Head of Legal — Andy Munro

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Full Conference Call Transcript

Daniel Barcelo: Thanks, Jeff, and welcome, everyone, to our 4th fourth and afloat twelvemonth 2025 net call. Our taxable for today's telephone is finishing what we started. 25 was the twelvemonth we built T1 Foundation. In 2026, we are gathering our G2_Austin star compartment fab to implicit our vertically integrated home star concatenation successful the U.S. marketplace that wholly changed connected January 1 with the implementation of caller national rules connected overseas contented and ownership. . Next year, 2027 is the twelvemonth we mean to present a step-change successful our quality to make net and currency travel arsenic a U.S. star person delivering precocious home content.

While we execute these halfway objectives of our strategy, we besides program to stack further EBITDA streams done integrated and inorganic opportunities. During the 4th fourth and truthful acold successful 2026, we person made important strides to recognize this vision. Let's crook to Slide 4 for a reappraisal of T1's singular advancement successful the 4th quarter, during which we announced respective important milestones and transactions. Building connected the extended proviso statement with Hemlock, Corning, we announced the proviso concern with NextPower. Together, these relationships service arsenic captious gathering blocks to beforehand our imaginativeness of processing a afloat integrated American polysilicon-based star proviso chain.

We besides executed 2 transactions to money T1's maturation and enlargement plans, including a $72 cardinal registered nonstop communal equity offering and a $50 cardinal convertible preferred tranche from definite funds and accounts managed by Encompass Capital Advisors, 1 of our founding investors. In November, I met with Vice President of J.D. Vance successful Washington, D.C. to sermon the resurgence of American vigor and precocious manufacturing and our committedness to establishing home star proviso chains. As our momentum continued to build, we returned to the superior markets successful December with our concurrent communal equity and convertible notes offerings, raising combined gross proceeds of $322 cardinal and adding respective caller organization investors to T1's superior structure.

Capital is and volition stay the lifeblood of T1's maturation ambitions implicit the adjacent term. The backing from the December transaction spot successful T1's equilibrium expanse presumption america to statesman Phase 1 operation of our G2_Austin star compartment fab. Following the completion of Phase 1, we expect to statesman producing precocious efficiency, precocious home contented star cells by the extremity of this twelvemonth with an yearly capableness of 2.1 gigawatts. Our palmy superior enactment inaugural and the commencement of operation astatine G2 triggered an important commercialized milestone erstwhile T1 announced a strategical concern with Treaty Oak Clean Energy, highlighted by a 3-year statement for T1 to proviso 900 megawatts of G1 modules with G2 home cells starting successful 2027.