Fluence Energy Inc-A 2025年度报告

To our shareholders, To meet this evolving demand, Fluence continues to leadthrough innovation. In 2025, we introduced Smartstack™,designed to deliver industry-leading energy densityand signiĝcantly reduce total cost of ownership for ourcustomers. Since its introduction, the offering has beenmet with strong customer interest, reĞ ecting marketdemand for solutions that combine a compact footprint,competitive economics, and advanced performancecapabilities as energy storage deployments increase inscale and complexity. Fiscal year 2025 was a year of meaningful transformationfor Fluence. As market conditions shifted and governmentpolicies evolved, we focused on strengthening thefundamentals of our business and sharpening how weoperate. We believe our accomplishments made Fluencemore resilient and strongly positioned us to capture thegrowing opportunities across the energy storage sector. We generated approximately $2.3 billion in revenue,despite delays to our project delivery schedule as wescaled our U.S. supply chain and the pacing of contractsignings in a changing policy environment. Even withthese factors, our focus on execution and commitment toproĝ tability was reĞ ected in a record gross proĝ t marginof 13.1% and we ended the year with $1.3 billion in totalliquidity1, also a record level, reinforcing our bankabilityas a counterparty for our customers and our ability tomanage near-term challenges while continuing to investconĝ dently in our future. Our domestic manufacturing strategy remains acornerstone of our ability to serve this growth in theUnited States. We are strengthening our U.S. domesticsupply chain through facilities in Utah, Tennessee, Arizona,and Texas to meet the accelerating demand for U.S.-made content. We continue to lead in the availability ofdomestically produced solutions, which we expect willenable our customers to beneĝt from tax credits underthe One Big Beautiful Bill Act and help insulate them fromĞ uctuations in tariff policy. Our momentum strengthened as the year progressed. Inthe fourth quarter, we executed $1.4 billion in orders, thelargest quarterly total in our history, bringing ourĝscalyear-end backlog to a record $5.3 billion. This provides uswith high conĝdence in our future revenue and reĞ ects anotable shift in the economics of energy storage, in boththe United States and abroad. As battery costs decline,customers are able to deploy storage at scales that werenot feasible just a few years ago. Turning toĝscal year 202Ĩ, we remain poised to harvestincreasing demand for our product, with Smartstack tooffer, a team equipped to deliver, and a focused operatingmodel. The opportunities in front of us are signiĝcant, andwe are prepared to meet them. Thank you, our shareholders, for your continued supportand belief in the work we are doing. Together, we aretransforming the way we power our world. Looking broadly at the market, we are witnessing a stepchange in demand driven by the continued penetration ofrenewable energy, increasing demand for longer-durationenergy storage, and the increasing economics of energystorage. This has been ampliĝed by the sudden increasein demand for electricity to feed artiĝ cial intelligence andthe expansion of the proposed data centers required tosupport this emerging technology. These facilities requiremassive amounts of reliable, continuous power, and energystorage is increasingly viewed as essential infrastructureto support them. We plan to remain actively engagedwith this new customer set representing over 30 GWh ofanticipated opportunity duringĝscal year 202Ĩ. Julian NebredaPRESIDENT AND CHIEF EXECUTIVE OFFICER Forward-Looking Statements This Annual Report contains forward-looking statements within the meaning of the federal securities laws. See thediscussion under “Cautionary Statement Regarding Forward-Looking Information” in our enclosed Annual Report on Form10-6for theĝscal year ended Septemberĥ0Ņ202ħ. Advancing Our Product Platform forLong-Term Value In February 202ħŅwe introducedSmartstackŅour neñt-generation systemplatform. Smartstack increases systemenergy density by approñimatelyĥ0ƥcompared to traditional AC conĝgurationsŅenabling more capacity within eñistingsite footprints. Its modular design reĞectsour focus on improvingĞeet performanceŅreducing pro³ect eñecution compleñityŅandsupporting long-term operating efĝciencyfor customers. Paired with Smart Service Plans andindustry-leading safety and cybersecurityŅSmartstack is designed for reliabilityŅresilienceŅand long-term value creation. Product of the Year2025 Energy Storage Awards Presented by Solar>ediaŅpublisher of the globalindustry platformnergy-Storage.?ewsŅthenergyStorage Awards recogniøe and celebrate eñcellenceŅinnovationŅand dedication across the energy storageindustryŅhighlighting outstanding achievementsby companiesŅpro³ectsŅand individuals driving thesector forward. Delivering Domestic Certainty Inĝscal year 202ħŅwe advanced oura.S. domesticmanufactur