Nextpower Inc. Class A Common Stock AGM 2026

Hello, everyone, and thank you for joining Nextpower's 2026 annual shareholder meeting. This is our fourth annual shareholder meeting since our IPO. We want to thank our customers, partners, and shareholders for their continued confidence and support. Finally, we thank our entire Nextpower team for their dedication, customer focus, and professionalism. In today's meeting, I will provide a brief company update, then pass the meeting over to Lindsey Wiedmann, our Chief Legal and Compliance Officer, who will conduct the formal portion of the meeting, including a review of the proposals and other order of business. At the close of the meeting, we will take any questions that have been submitted through the shareholder portal. Let me begin with our vision, a world electrified by clean energy, and our mission, to be the trusted partner delivering the world's most intelligent, reliable, and productive clean power technology.

Over the past year, we've continued to make meaningful progress toward that vision by expanding the ways we help our customers solve increasingly complex energy challenges. During the period, we further strengthened our global leadership position in solar tracking while continuing to execute on our strategy of combining engineering-driven mechanical and electrical innovation with digital technologies to deliver operational benefits and long-term economic value for our customers. 2025 marked our eleventh consecutive year as the global leader in solar tracker market share, while also maintaining our leadership position in the U.S. To date, we have deployed more than 160 gigawatts of solar tracker technology worldwide, earning the trust of customers across more than 50 countries and reinforcing our position as the industry's most trusted technology partner.

This past November, we also reached an important milestone in our company's evolution with the transition from Nextracker to Nextpower. Our new name reflects the broader strategy we've been executing over the past several years, building an integrated technology platform that extends beyond solar tracking through organic innovation and strategic acquisitions. As our customers continue to ask us to do more, we've expanded our portfolio to include foundations, steel panel frames, electrical balanced systems, software, robotics, power electronics, and most recently, energy storage. Together, these capabilities enable us to deliver greater value across the entire life cycle energy project. We also continue delivering strong financial and operational performance.

During the year, we achieved record revenue, expanded backlog to more than $5.5 billion, excluding our energy storage business, which brings over $300 million of additional backlog, maintained a strong balance sheet, and continued generating healthy profitability and cash flow. These results reflect disciplined execution, strong customer demand, and the increasing contribution of our expanding technology platform. Looking ahead, we remain energized by the opportunities before us. Global electricity demand continues to grow, driven by electrification, artificial intelligence, data centers, industrial expansion, and the need for more resilient energy infrastructure. We believe Nextpower is uniquely positioned to help meet these evolving needs through our expanding portfolio of technologies, global execution capabilities, and unwavering commitment to customer success. Thank you for your continued trust and support. We remain focused on disciplined execution, innovation, and creating long-term value for our customers and shareholders.

With that, I'll hand the meeting over to Lindsey Wiedmann, who will guide us through the formal portion of today's agenda.

Good morning. Welcome, and thanks for joining us for Nextpower's 2026 annual meeting of shareholders. My name is Lindsey Wiedmann, chief legal and compliance officer of Nextpower and secretary and chair of this annual meeting, which I will now call to order. First, I would like to acknowledge that we are hosting this annual meeting virtually, and a recording of the webcast will be posted on our website for a period of time after the meeting. With the virtual format, we believe that we are able to provide more of our shareholders with the opportunity to participate in today's meeting. An agenda that outlines the order of business for the meeting has been made available. Before we begin, I'd like to remind you of the rules of conduct for this meeting.

A copy of the rules of conduct that govern today's meeting can be found in the meeting materials section of the web portal for today's virtual meeting. We ask that you abide by these rules in order to facilitate an orderly meeting. In addition, we are joined by Barry Shoemake from Deloitte, our independent registered public accounting firm. Richard Leza from the Carideo Group is participating on this webcast and will act as the Inspector of Elections for the meeting. Mr. Leza has signed an oath of office, which will be filed with the minutes of this meeting. This meeting is being held in accordance with Nextpower's bylaws and Delaware law. During the official portion of today's meeting, we will address the matters described in our proxy statement dated July 7, 2026.

We will open the polls, then each of the proposals will be presented in the order set forth in the proxy statement. If you have not already voted by proxy or if you've already voted and wish to change your vote during the meeting, you may submit your vote online at any time while the polls remain open. Please remember, if you have already voted by proxy, it is not necessary to vote again. The polls will then be closed, the votes tabulated, and the preliminary results will be announced. We'll then adjourn the official portion of the meeting. We will hold a Q&A session to address questions from shareholders after we complete the official portion of the meeting. You must be logged into the meeting portal as a shareholder to submit a question.

Shareholders can enter questions at any point during this webcast through the online portal using the text box on your screen. If you have a question, we encourage you to submit it now. Questions must conform to the guidelines set forth in the rules of conduct in order to be addressed. Thank you in advance for your cooperation. Now, turning to the formal business of the meeting. I have an affidavit of distribution from Broadridge in their capacity as Nextpower's mailing agent for this meeting, certifying that notice of this meeting has been duly given and that a notice of internet availability of proxy materials, including the proxy statement and annual report, has been delivered to every shareholder of record as of the close of business on June 22, 2026, the record date of the meeting.

I have been advised by the Inspector of Elections that the holders of shares representing at least a majority of the voting power of our Class A common stock are present or represented by proxy here today, and the requisite quorum for each proposal is therefore present. Accordingly, this meeting is authorized to transact the business set forth in the proxy statement. We have four proposals to consider at this meeting, each of which is described in the proxy statement. We will discuss these proposals momentarily. First, however, I remind you that if you have already voted and do not intend to make any changes, there is no need for you to cast a vote today. Your vote will be counted automatically without any further action on your part.

Any shareholder present who has not voted or who wishes to change their vote may vote at this meeting by using the voting link. At this time, the polls are open. You may vote at any time during our discussion of the proposals on the agenda. The polls will close after the last proposal has been presented. Proposal 1, election of directors. The first proposal on the agenda is to elect our Class 1 directors to serve for a 3-year term expiring at the 2029 annual meeting of shareholders, or until their successor is duly elected and qualified, or their earlier death, resignation, or removal. The Class 1 director nominees are Mark Menezes, Dan Shugar, William Watkins, and Howard Wenger. The qualifications of each nominee are set forth in the proxy statement. No other director nominees have been properly submitted for election pursuant to our bylaws.

Therefore, no other nominees may be accepted at this time. The vote required to elect the Class 1 directors is a plurality of the votes cast, which means that the 4 individuals nominated for election to the board of directors receiving the highest number of votes will be elected. Shareholders do not have the right to cumulate their votes in the election of the directors. The board of directors recommends a vote for the election of each of the nominees. Proposal 2, ratification of independent registered public accounting firm. The second proposal on the agenda is to ratify the selection of Deloitte as our independent registered public accounting firm for the fiscal year ending March 31, 2027. We are joined today by a representative of Deloitte, and they will be available through the Q&A session after the official portion of the meeting to respond to appropriate questions.