Meyer Burger makes significant progress in relocating its core business to
the USA

Meyer Burger Technology AG / Key word(s): Agreement
Meyer Burger makes significant progress in relocating its core business to
the USA

25-Jun-2024 / 06:45 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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Ad hoc announcement pursuant to Art. 53 LR
Thun, Switzerland - June 25, 2024


Meyer Burger makes significant progress in relocating its core business to
the USA

  * Ramp-up of solar module production in Goodyear, Arizona, begins
    following successful factory audit.

  * Strategic partnership with leading U.S. technology group to expand
    activities in the USA in the pipeline.

  * Fourth long-term offtake agreement signed with a new major customer for
    a total volume of 1.75 gigawatts over three years with an option to
    extend for a further two years.

  * Financing of solar cell plant in Colorado making progress, completion of
    45X financing targeted by mid-third quarter.

Meyer Burger's new solar module plant in Goodyear, Arizona, starts
production. The factory audit according to UL testing standards required for
the official start of production was passed without any deviations. The
solar cells required for module production have already been produced at the
German site in Thalheim (town of Bitterfeld-Wolfen) for some time and will
continue to be supplied from there. The Thalheim site will be needed for the
foreseeable future to ensure the ramp-up in the U.S., at least until the
solar cell line in Colorado Springs, Colorado, is up and running. The exact
timing for the start of solar cell production in the U.S. will depend on the
closing of the 45X financing.

Strategic partnership initiated with leading U.S. group

A commercial agreement was negotiated to the point of signature with a U.S.
industry and technology leader and a term sheet for a potential investment
in Meyer Burger was exchanged. This planned strategic collaboration will
enable the company to produce a solar module that is manufactured in the US
with an increasing share of domestic components. Meyer Burger is working on
binding agreements, which are expected to be finalized in the third quarter.

Further offtake agreement for up to 600 megawatts per year

Meyer Burger has concluded a further three-year offtake agreement: a major
US energy company will purchase highly efficient solar modules from the
Goodyear plant with an annual capacity of up to 600 megawatts from January
2026. The contract includes an option for the customer to extend the
contract by a further two years and will become effective once the financing
of the solar cell plant in Colorado Springs has been completed.

Progress on financing

Meyer Burger reports progress on financing: The due diligence of a major
U.S. bank on a monetization under Article 45X of the Inflation Reduction Act
(IRA) has been completed. The loan agreements are currently being negotiated
and the company is aiming for closing and disbursement by the middle of the
third quarter. In this context, Meyer Burger also expects to receive the
export financing from a major German bank for the expansion of solar
production in the USA.

The final application for the loan from the US Department of Energy (DOE) to
finance the solar cell plant in Colorado Springs has been submitted and is
currently under review.


Media contacts

Meyer Burger Technology AG
Anne Schneider
Head Corporate Communications
M. +49 174 349 17 90
anne.schneider@meyerburger.com


Alexandre Müller
Investor Relations
M. +41 43 268 3231
alexandre.mueller@meyerburger.com


About Meyer Burger Technology AG
www.meyerburger.com

Meyer Burger researches, develops and produces the latest generation of
highly efficient solar cells and solar modules based on patented
Heterojunction/SmartWire technology. As one of the few manufacturers
worldwide, the company also manufactures its own production equipment, which
ensures high quality and efficiency in production.

Meyer Burger's headquarters are located in Thun (Switzerland). The company
operates research centers and machine factories in Hohenstein-Ernstthal
(Germany), Hauterive and Neuchâtel (Switzerland). The highly automated
production of solar cells and solar modules takes place in Thalheim
(Germany) and in the future in Goodyear and Colorado Springs (USA). The
company has its own accredited test center for solar modules in Freiberg
(Germany). This is the key to the long service life and high precision of
Meyer Burger solar modules. There are sales offices in Europe, the USA,
Australia and Asia.

Around 1 100 people work for Meyer Burger worldwide. The company was founded
in 1953 in Switzerland. As a provider of production systems, the company has
shaped the development of the global photovoltaic industry along the entire
value chain in recent decades and has set essential industry standards. A
large part of the solar modules produced worldwide today are based on
technologies developed by Meyer Burger.

The registered shares of Meyer Burger Technology AG are listed on the SIX
Swiss Exchange (ticker: MBTN).

Additional features:


File: https://eqs-cockpit.com/c/fncls.ssp?u=100fdb79b765cd606e947aabaf5870d3
File description: 20240625_MBTN_Agreement_EN

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End of Inside Information

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   Language:       English
   Company:        Meyer Burger Technology AG
                   Schorenstrasse 39
                   3645 Gwatt
                   Switzerland
   Phone:          +41 033 221 28 00
   E-mail:         mbtinfo@meyerburger.com
   Internet:       www.meyerburger.com
   ISIN:           CH0108503795
   Valor:          A0YJZX
   Listed:         SIX Swiss Exchange
   EQS News ID:    1932015

End of Announcement EQS News Service
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1932015 25-Jun-2024 CET/CEST