TPI Composites (TPICQ) investor relations material

Executive summary

• Filed for Chapter 11 bankruptcy on August 11, 2025, to facilitate financial and operational restructuring; continues to operate as debtor-in-possession under court supervision.

• Sold Turkish operations in September 2025, representing a major strategic shift and reclassified as discontinued operations.

• Common stock delisted from Nasdaq and began trading on OTC Pink Market as of August 19, 2025.

Financial highlights

• Net sales for Q3 2025 were $234.4M, down 9.6% year-over-year; nine-month sales rose 7.4% to $712.1M.

• Net loss from continuing operations was $116.2M for Q3 2025 (vs. $43.8M prior year); nine-month net loss from continuing operations was $229.6M (vs. $172.4M prior year).

• Adjusted EBITDA for Q3 2025 was $(47.0)M; free cash flow for the nine months was $(128.1)M.

• Gross margin was negative at (19.9)% for Q3 2025, reflecting significant operational challenges.

• Unrestricted cash and equivalents at September 30, 2025, were $29.5M, down from $143.3M at year-end 2024.

Outlook and guidance

• Substantial doubt exists about the ability to continue as a going concern for at least twelve months due to ongoing bankruptcy and liquidity challenges.

• Management is actively pursuing restructuring but cannot assure successful emergence from bankruptcy.

• U.S. wind market outlook is pressured by policy uncertainty and phase-out of tax credits; global demand for wind energy remains but faces competitive and inflationary headwinds.