Annual Report

Full-year summary for stakeholders: financial performance, highlights, people, and outlook.

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1
The cover of an annual report is read by people who will read nothing else. Make the year legible from across a room.
2
One sentence from the letter, not the whole letter. If the audience remembers a single line from this deck, it should be this one.
3
Margin plus growth together is the story. Either alone is unremarkable in this sector.
4
Compound annual growth of about 29% across five years. The 2023 slowdown was the grid connection delay, worth naming before someone asks.
5
Margin follows fleet age, not scale. Assets built before 2022 now run at nearly twice the margin of the newest sites.
6
Storage grows fastest and earns least. That is expected at this stage and it is the segment to watch in 2026.
7
Transition from financial results to how they were produced.
8
On-schedule delivery across nine sites is genuinely unusual in this industry. Do not bury it in the middle of the list.
9
The injury rate is the number the board asks about first. Have the prior year in your head: it was 0.61.
10
An annual report without this slide is marketing. Include it, own it, and do not over-explain any single item.
11
Guidance is a range for a reason. If asked what moves us to the top or bottom, the answer is interconnection timing.
12
Four priorities, and each maps to something earlier in this deck. Close by pointing back to those slides rather than adding new material.

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