Exhibit,Title,Label,Value,Unit,Method / note,Sources
1,"Observed pack prices: different segments, same survey year",Global: all uses,108,"US$/kWh, 2025",BNEF survey observations for 2025. Packs only; these are not complete installed-project prices or current executable quotations.,https://about.bnef.com/insights/clean-transport/lithium-ion-battery-pack-prices-fall-to-108-per-kilowatt-hour-despite-rising-metal-prices-bloombergnef/
1,"Observed pack prices: different segments, same survey year",Stationary storage,70,"US$/kWh, 2025",BNEF survey observations for 2025. Packs only; these are not complete installed-project prices or current executable quotations.,https://about.bnef.com/insights/clean-transport/lithium-ion-battery-pack-prices-fall-to-108-per-kilowatt-hour-despite-rising-metal-prices-bloombergnef/
2,The price bridge that a tender must disclose,Pack quotation,"Cells, module/pack structure and stated pack scope; identify energy denominator.",Decision framework,BaiyX analytical procurement framework. Scope varies by contract; no universal percentage markup is assumed.,
2,The price bridge that a tender must disclose,Integrated system,"Add defined power conversion, enclosure, cooling, controls and safety scope.",Decision framework,BaiyX analytical procurement framework. Scope varies by contract; no universal percentage markup is assumed.,
2,The price bridge that a tender must disclose,Installed project,"Add civil/electrical works, grid interface, testing, logistics and commissioning.",Decision framework,BaiyX analytical procurement framework. Scope varies by contract; no universal percentage markup is assumed.,
2,The price bridge that a tender must disclose,Lifetime service,"Add operating costs, augmentation, downtime exposure and end-of-life obligations.",Decision framework,BaiyX analytical procurement framework. Scope varies by contract; no universal percentage markup is assumed.,
3,Hypothetical annual contribution versus discharge price,Sale $80/MWh,0.9327272727272727,US$ million per year,"Illustrative calculation, not observed returns: 90 MWh net/cycle × 300 cycles; charging $40/MWh; round-trip efficiency 88%. Before O&M, degradation, network charges, taxes and finance.",
3,Hypothetical annual contribution versus discharge price,Sale $100/MWh,1.4727272727272727,US$ million per year,"Illustrative calculation, not observed returns: 90 MWh net/cycle × 300 cycles; charging $40/MWh; round-trip efficiency 88%. Before O&M, degradation, network charges, taxes and finance.",
3,Hypothetical annual contribution versus discharge price,Sale $120/MWh,2.0127272727272727,US$ million per year,"Illustrative calculation, not observed returns: 90 MWh net/cycle × 300 cycles; charging $40/MWh; round-trip efficiency 88%. Before O&M, degradation, network charges, taxes and finance.",
4,Hypothetical contribution lost with fewer completed cycles,300 cycles,1.4727272727272727,US$ million per year,Same cycle economics as the preceding scenario. A proportional opportunity reduction is assumed; actual outage value depends on timing.,
4,Hypothetical contribution lost with fewer completed cycles,285 cycles,1.399090909090909,US$ million per year,Same cycle economics as the preceding scenario. A proportional opportunity reduction is assumed; actual outage value depends on timing.,
5,Three questions that determine warranty value,Trigger,Can the owner prove failure using agreed measurements and accessible records?,Decision framework,BaiyX analytical due-diligence framework; it is not a legal opinion on any warranty.,
5,Three questions that determine warranty value,Remedy,"Does the obligation cover parts, labour, transport, recommissioning and timing?",Decision framework,BaiyX analytical due-diligence framework; it is not a legal opinion on any warranty.,
5,Three questions that determine warranty value,Recovery,"Does the named issuer have resources, enforceable obligations and usable security?",Decision framework,BaiyX analytical due-diligence framework; it is not a legal opinion on any warranty.,
5,Three questions that determine warranty value,Residual exposure,What cash and outage costs remain with the owner while a claim is resolved?,Decision framework,BaiyX analytical due-diligence framework; it is not a legal opinion on any warranty.,
6,Hypothetical offer normalisation reverses the headline ranking,A: complete scope,15.0,US$ million,"Illustrative offers only. B adds $0.6m grid equipment, $0.3m commissioning and $0.5m spares/licences to $13.8m. No market-price claim.",
6,Hypothetical offer normalisation reverses the headline ranking,B: quoted headline,13.8,US$ million,"Illustrative offers only. B adds $0.6m grid equipment, $0.3m commissioning and $0.5m spares/licences to $13.8m. No market-price claim.",
6,Hypothetical offer normalisation reverses the headline ranking,B: comparable scope,15.2,US$ million,"Illustrative offers only. B adds $0.6m grid equipment, $0.3m commissioning and $0.5m spares/licences to $13.8m. No market-price claim.",
7,Hypothetical debt-service coverage is sensitive to sale price,Sale $80/MWh,0.5919191919191918,Times annual debt service,Illustrative calculation: deduct $0.4m recurring operating expenses and reserves from contribution; divide by $0.9m annual debt service. This is not a financing forecast.,
7,Hypothetical debt-service coverage is sensitive to sale price,Sale $100/MWh,1.1919191919191918,Times annual debt service,Illustrative calculation: deduct $0.4m recurring operating expenses and reserves from contribution; divide by $0.9m annual debt service. This is not a financing forecast.,