Bloom Energy Sets Sights on Profitability in 2024 Through Cost Cuts and Margin Focus

Focused on improving financial health in 2024 - reducing cash burn by 70%, lowering CapEx, reducing inventory investment, raising prices, consolidating facilities, reducing costs.

Targeting positive cash flow in next 12 months through margin improvements, working capital reductions, tempering spending on new platforms.

Revenue growth expected in 2024 but at lower rate than historical trends due to focus on pricing, margins, cash management.

Strong electrolyzer backlog for 2024, margin improvements expected. Large scale projects pushing more into 2025.

Conditional approval of $1.6 billion DOE loan facility expected by end of March. Not dependent on this for 2024 operations. Will support project investments in 2H 2024 & beyond.