GENERAC HOLDINGS INC. (GNRC) Business

Item 1. Business

Overview

Founded in 1959, Generac is a leading global designer, manufacturer, and provider of a wide range of energy technology solutions. Generac provides power generation equipment, energy storage systems, energy management devices & solutions, and other power products and services serving the residential, commercial, data center, telecom, rental, and industrial markets. The Company’s broad portfolio of energy technology offerings for homes and businesses enables its mission to Power a Smarter World and lead the evolution to more resilient, efficient, and innovative energy solutions.

We have a long history of providing power generation products across a variety of applications, and we maintain one of the leading positions in the North American market for power equipment with an expanding presence internationally. We believe we have one of the widest ranges of products in the power generation marketplace, including residential, commercial, and industrial standby generators, as well as portable and mobile generators used in a variety of applications. The recent introduction of our large-megawatt diesel generator line-up has substantially increased our served addressable market, allowing us to participate in the supply-constrained data center market which is expected to grow significantly over the coming years due to the mass adoption of artificial intelligence. Over the last few years, we have also been focused on building out ecosystems of energy technology products, solutions, and services for homes and businesses, allowing us to fully integrate our product portfolios together into common platforms and user interfaces and enabling end users to better manage their energy resilience and costs. We have also been leveraging our leading position in the growing market for natural gas fueled generators, which we believe represents a cleaner fuel compared to diesel, to develop solutions for applications beyond standby power, allowing us to participate in multi-purpose microgrid projects for C&I customers. As the traditional centralized utility model evolves over time, we believe that a more decarbonized, digitized, and decentralized grid infrastructure will develop, and our energy technology solutions are uniquely and strategically positioned to participate in this next-generation grid.

Given our competitive strengths in our traditional power generation markets, we believe we are well-positioned to execute on the growing opportunity for backup power for homes and businesses, where increased penetration is being driven by multiple mega-trends that are resulting in poorer power quality for end users. In addition, our focus on more resilient, efficient and innovative energy solutions has increased our served addressable market, and as a result, we believe we can provide products that can help offset rising energy costs as the traditional utility grid suffers from significant supply/demand imbalances over time.

Company History

Generac Power Systems, Inc. was founded in 1959 to commercialize a line of affordable portable generators that offered superior performance and features. Its success through the years has been built upon engineering expertise, manufacturing excellence and innovative approaches to the market. This has driven our growth into becoming a leading provider of power equipment for a variety of applications within residential, commercial, and industrial markets.

In the 1980’s, we expanded beyond portable generators into the industrial power generation market with the introduction of our first stationary generators that provided up to 200kW of power output. We introduced our first residential standby generator product line in 1989 and expanded our industrial product offering and global distribution in the 1990’s, forming a series of alliances that rapidly increased our sales. Our growth accelerated in the 2000’s as we expanded our purpose-built line of residential and commercial automatic standby generators and implemented our multi-layered, omni-channel distribution philosophy. Throughout the 2000’s, a number of high-profile power outage events also helped to increase the awareness and need for backup power and home standby generators. In February 2010, we completed our initial public offering (IPO) of the Company’s common stock, helping to increase awareness of Generac and our products and positioning the Company for future growth. Since then, we have scaled our sales & marketing capabilities and systems, while also building the Generac brand into one of the leading names in backup power in the US.

Soon after going public, we accelerated the Company’s transition from primarily a North America focused, emergency backup generator company into a more diversified industrial technology company with the addition of new and adjacent product categories and an expanded global presence, primarily through a series of acquisitions. It was during this time in the 2010’s that we formed and built out our International segment, which expanded our operations and capabilities globally to gain access to power generation markets outside the United States.

In 2018, we continued to evolve our enterprise strategy by driving further share gains in new and existing markets, capitalizing on our leadership in natural gas gensets, establishing our connectivity strategy, and providing the foundation for the Company’s initial acquisitions within the energy technology space. Our current “Powering a Smarter World” strategic plan has driven focus on energy resilience, energy efficiency, and critical infrastructure. This strategy has continued the evolution of Generac’s product offering, pairing traditional and renewable power generation, conversion, and storage technologies with new monitoring and management capabilities to provide ecosystems and solutions for the dynamic challenges presented by today’s energy landscape. In addition, this strategy continues to drive innovation in the form of new product development, including the 2025 launches of our next-generation home standby generator, our large mega-watt diesel generators for higher power applications such as data centers, our new PWRcell 2 energy storage system, and our new Generac-branded microinverters.

Our long history takes us from a small manufacturer in rural Wisconsin with an idea to innovate the power generation market in the United States, to a scaled multi-national, diversified, energy technology company with a well-established brand synonymous with back-up power.

2

Table of Contents

Key Mega-Trends and Strategic Growth Themes

Our “Powering a Smarter World” strategic plan serves as the framework for the significant investments that we have made, and will continue to make, to capitalize on the long-term growth prospects of Generac. Our enterprise strategy is derived from certain key mega-trends that we believe will drive various strategic growth themes for our business. Those mega-trends and growth themes are as follows:

Key Mega-Trends:

Strategic Growth Themes:

Power quality issues continue to increase. Power disruptions are an important driver of consumer awareness for backup power and have historically influenced demand for generators both in the United States and internationally. Increased frequency and duration of major power outage events, that have a broader impact beyond a localized level, increases product awareness and may drive consumers to accelerate their purchase of a standby or portable generator during the immediate and subsequent period. Energy storage systems offer similar resiliency advantages to consumers (at least for short duration power outages and for limited circuits) and demand for these products can benefit from these same awareness drivers. The optional standby market for C&I power generation is also driven by power quality issues and the related need for backup power.

The impact of climate change has received increased global focus in recent years, and an aging and under-invested electrical grid infrastructure remains highly vulnerable to potentially more severe and volatile weather. Additionally, growth in renewable power sources (such as solar and wind) is resulting in increased intermittency of supply as traditional thermal generation assets are retired, further impairing the reliable supply of electricity. At the same time, power demand is expected to meaningfully accelerate due to (i) the rapid adoption of artificial intelligence and related data center energy requirements, (ii) the re-industrialization of North America, and (iii) the electrification of a wide range of consumer and commercial products, including transportation, HVAC systems, and other major appliances. These developments are causing a growing supply/demand imbalance for grid operators across the world, which has led to high-profile examples of rolling blackouts and calls for utility customers to reduce consumption to maintain grid integrity. In fact, the North American Electric Reliability Corporation has labeled significant portions of the United States and Canada as being at high or elevated risk of resource adequacy shortfalls in the 2025-2029 period due in part to these supply/demand dynamics. We believe utility supply shortfalls and related warnings may continue in the future, resulting in further power quality issues for the world’s electrical grid. Finally, certain utilities are adopting preventative power shutoff policies to reduce the risk of wildfires caused by their electrical distribution equipment, predominately in the western part of the United States. Taken together, we expect these factors to continue driving increased awareness of the need for backup power for homes and businesses which will continue to create demand for Generac’s products across the portfolio.

3

Table of Contents

Home standby penetration opportunity is significant. Many potential customers are still not aware of the costs and benefits of automatic backup power solutions. With only approximately 6.75% penetration of the addressable market of homes in the United States (which we define as single-family detached, owner-occupied households with a home value of over $175,000, as defined by the U.S. Census Bureau's 2023 American Housing Survey for the United States), we believe there are significant opportunities to further penetrate the residential standby generator market both domestically and internationally. In addition to the mega-trends supporting growth of the category, we believe by expanding and developing our distribution network, continuing to invest in new product lines and technologies, and optimizing our marketing efforts, we can continue to build awareness and increase penetration for our home standby generators.

Substantial capital investments in new data centers and accelerating adoption of artificial intelligence. As a result of the development of artificial intelligence and the expected benefits of this technology, there is significant capital investment being made to build out data center infrastructure, which is expected to further accelerate adoption of artificial intelligence capabilities. Backup power solutions are a necessary part of this substantial investment in data centers. Given the significant power requirements and the mission-critical nature of these data centers, demand for large backup power generators is expected to grow at a dramatic rate for the foreseeable future. Due to all of these factors, the market for large-megawatt backup generators has become significantly supply-constrained. This presents a very large incremental opportunity for our recently introduced large-megawatt diesel generator offering. As we continue to ramp our capacity and capabilities for large megawatt generators, we believe that we are well positioned to take share in this market over time given (i) our long-standing historical focus on backup power generation, (ii) our global presence in markets around the world, (iii) our ability to provide customized product solutions via our extensive sales, engineering, and project management resources, and (iv) our robust aftermarket support through a combination of direct service teams and our global service network provided by our industrial distributor partners. Given the scale and mission-critical nature of these applications, this level of support is necessary to capture market share and serve these customers. Additionally, we believe these large data center power loads will contribute to the growing supply/demand imbalance across the broader electrical grid, resulting in continued power quality issues and increased demand for backup power solutions for all homes and businesses. Finally, we believe the significant growth in data center power consumption will cause higher power prices, driving growth in the market for solar, storage, and intelligent energy management solutions.

Increasingly critical nature of digital infrastructure. As the number of “connected” devices continues to rapidly increase and wireless networks are considered critical infrastructure in the United States, network reliability and up-time are necessary for our increasingly connected society. This will require highly resilient cell tower sites across the network, and therefore, necessitates the need for backup power sources on site at these cell towers. Generac is the leading supplier of backup power to the telecommunications market in the United States. As more mission-critical data is transmitted over wireless networks, we believe the penetration rate of backup generators on cell towers must increase considerably to maintain a higher level of reliability across the network. We have relationships with key Tier 1 carriers and tower companies globally, in addition to having distribution partners to provide local service support to the global market. We believe these factors coupled with Generac’s ability to customize solutions to each customer’s needs help us to maintain our strength within the global telecommunications market.

Natural gas generators, a continuing growth opportunity. We believe natural gas will continue to be an important and cleaner transition fuel of the future, compared to diesel, as the world continues to shift towards lower emission power generation sources. Demand for natural gas generators continues to represent an increasing portion of many C&I end markets, as the benefits of natural gas power generation are very compelling relative to traditional diesel fueled generators for certain end users. We also continue to explore and expand our capabilities within new gaseous generator market opportunities, including continuous-duty, prime rated, distributed generation, demand response, microgrids, and overall use as a Distributed Energy Resource (DER) in areas where grid stability is needed. Many of these applications are made possible by our natural gas generators having the capability to participate in available grid services programs, helping to offset the purchase price of the equipment over the product’s lifespan. Expanding our natural gas product offering into larger power nodes is another way that we are increasing the addressable market for natural gas generators. As a leader in natural gas power generation, we believe we are well positioned to capitalize on this strategic growth theme.

Solar, storage, and energy management markets will continue to develop despite phasing out of government subsidies and incentives. We believe the electric utility landscape will undergo significant changes in the decade ahead due to accelerating demand growth, grid instability and power quality issues, environmental concerns, permitting challenges, and the continuing performance and cost improvements in renewable energy and energy storage technologies. Importantly, we expect that a confluence of factors will continue to drive power prices meaningfully higher in the future. As a result, on-site power generation from renewable sources and cleaner-burning natural gas generators are projected to become more prevalent as will the need to monitor, manage, and store this power – potentially developing into a significant market opportunity as utility customers seek alternative solutions to combat rising power prices. In addition, battery storage can also provide customers with another source of power resiliency for shorter duration outages.

4

Table of Contents

Solar and storage markets have historically been supported by subsidies and investment tax credits for consumers and businesses to help advance the adoption of clean energy technologies.  Further, production tax credits are being offered to businesses that meet certain domestic manufacturing requirements in the production of renewable energy products. On July 4, 2025, the United States signed into law the One Big Beautiful Bill Act (OBBBA). The OBBBA accelerates the phase-out of tax incentives for the solar market and includes certain domestic supply chain requirements to qualify for these incentives. While this phase-out of tax incentives will negatively impact the solar and storage markets in the near term, we believe the overall mega-trends that drive the solar, storage, and energy management markets will continue and provide sufficient incentive for long-term, value-creating investments for market participants in this space. Given the significant long-term market opportunity, we believe it is important to build out our capabilities in energy technology and continue to develop our residential ecosystem of products and solutions. In addition, we plan to leverage our strong competencies in the residential standby generator market to increase our market position in the residential solar, storage, and energy management markets.

See “Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations – Business Drivers and Operational Factors” of this Annual Report on Form 10-K for additional drivers that influence demand for our products and other factors that can affect our results of operations.

Enterprise Strategy

The mega-trends and strategic growth themes that we have identified support our enterprise strategy, “Powering A Smarter World,” and our purpose statement, “To lead the evolution to more resilient, efficient, and innovative energy solutions.” As we continue to execute our strategic plan into the future, we are focused on three key objectives: (i) improve energy resilience and independence, (ii) optimize energy efficiency and consumption, and (iii) innovate to protect and build critical infrastructure. These objectives are further explained as follows:

Improve energy resilience and independence. Increase power reliability through onsite generation and storage solutions that provide resiliency for homes, businesses and communities.

Homes, businesses, and communities are experiencing a deterioration in the reliable supply of electricity due to a number of factors including: climate change impacts driving more severe and volatile weather leading to increased power outages; a capacity constrained legacy power infrastructure that’s still predominantly a one-way system; power infrastructure being impaired by under-investment making it more susceptible to power outages; regulatory and legislative actions focused on carbon intensity, coupled with the continued adoption of more intermittent renewable power sources; and a dramatic increase in power demand that could outpace supply growth due to accelerating power requirements of data centers and artificial intelligence, electrification trends, and the re-industrialization of North America. We believe that Generac’s broad portfolio of back-up power products and solutions can directly address these challenges for homes and businesses. Our residential and C&I products begin with emergency standby generators that can be supplemented with portable and mobile power generators. We have also built out an offering of battery energy storage systems (BESS) for behind-the-meter residential and C&I applications. These onsite generation and storage solutions provide peace of mind and protection against power outages by delivering energy resilience and independence for end users. Many of these solutions are capable of being connected to the grid and can help support overall grid reliability and resiliency when enrolled in grid services programs.

Optimize energy efficiency and consumption. Enable efficient power generation and consumption through monitoring, management and energy optimizing solutions.

Multiple entrenched trends are expected to drive accelerated demand growth for electricity in the coming years. The combination of accelerating demand growth together with significant investments in maintaining, upgrading, and decarbonizing the power grid is likely to cause meaningful increases in the cost of electricity, ultimately driving home and business owners to adopt solutions to help offset the impact of these rising costs.

Generac has developed a full ecosystem of energy management products and solutions to address the challenges of higher power prices by generating power on-site, improving energy efficiency, and optimizing energy consumption for end users. This ecosystem starts with our ecobee smart home energy management devices as the central hub and user interface for the system. Our newly launched Generac branded microinverters are fully integrated into this ecosystem and unlock the ability to generate solar power on-site, enabling homeowners to lower their power bills and reduce their reliance on centralized utilities. Our PWRcell battery storage solutions are also integrated into our residential energy ecosystem, allowing end users to store power that is often generated on-site to optimize the timing of consumption. With this capability, home owners can discharge power from their battery at times when utility rates are at their highest, thereby saving money on their utility bills. Our PWRcell battery storage systems and ecobee smart thermostats can also participate in available grid services programs that are offered by certain utilities, helping to improve the efficiency of the broader electrical grid. In addition, we offer Wallbox EV charging equipment and other load management devices to our distribution partners to help end users manage their utility costs by optimizing energy efficiency and consumption.

5

Table of Contents

We continue to build out our system level controls by leveraging our deep software development capabilities. For our residential products, we have developed a common platform and user interface to link the connectivity platforms for all of our installed products, including ecobee and MobileLink, in order to create a seamless consumer experience to monitor, manage, and control their energy generation, storage, and consumption. For our C&I products, we are developing a similar ecosystem of controls that are building off Deep Sea’s industrial controls, Blue Pillar’s IoT network solutions, and Ageto’s multi-asset microgrid control technology. These advanced control capabilities provide the foundation for the continued build out of a common system-level platform for our C&I customers to monitor, manage, and control all of their DERs (including non-Generac assets as well), helping businesses to better optimize their energy efficiency and consumption.

Innovate to protect and build critical infrastructure. Offering innovative solutions that enable, protect, and help build energy production, data centers, telecommunications, transportation, and other critical infrastructure.

Critical infrastructure systems around the world are evolving and becoming more sensitive to power reliability challenges. As society becomes increasingly dependent on digital products, services, and capabilities, data centers and their related infrastructure are becoming mission-critical in nature and will therefore require complete resiliency coverage for their power utilization, making backup power generation equipment an essential component of these systems.

Generac’s recent entrance into the data center end market was enabled by the introduction of our large mega-watt diesel generator product line, representing a massive incremental market opportunity for the Company. Given the secular trends supporting data center capital investments and the critically under-supplied market for large megawatt backup power generators, we expect this significant market opportunity to continue growing for the foreseeable future.

Reliability and uptime of telecommunications equipment is also becoming more essential as society becomes increasingly “connected” with their cell phones and more mission-critical data travels over wireless networks. As a leader in providing backup power generators for wireless cell towers around the world, we believe we can play an important role in helping to protect and build this critical telecommunications infrastructure.

In addition, our broad offering of C&I mobile products (including mobile light towers, mobile power generators, mobile heaters, mobile energy storage systems and hybrid generators) plays a key role in the completion of infrastructure construction projects, such as roads, highways, bridges, and airports. Finally, our C&I products are also commonly used to provide backup power to a variety of other critical infrastructure that are vital for a safe and healthy society, such as water and wastewater systems, healthcare facilities, and other municipal infrastructure.

Products and Solutions

We design, manufacture, and distribute a broad range of energy technology products and solutions. We have one of the broadest offerings of stationary, portable, and mobile power generators with single-engine outputs ranging between 800W and 3,250kW. We have developed a line of energy storage systems for use in residential solar-plus-storage applications, as well as microinverters for residential solar energy production. We also have a line of C&I Battery Energy Storage Systems and mobile energy storage systems that serve global C&I markets. We have a selection of energy monitoring and management devices and controls that serve as the central hub for our residential and C&I energy ecosystems. We design and manufacture other power products, including light towers and a broad line of outdoor power equipment, which includes a variety of property maintenance equipment powered by both engines and batteries. We classify our products and services into three categories based on similar ranges of power output geared for varying end customer uses: Residential products, C&I products, and Other products and services. The following summary outlines these categories, including their key attributes and customer applications.

Residential Products

Our residential automatic standby generators, which predominantly operate on natural gas and liquid propane, range in output from 7.5kW to 150kW and are permanently installed with an automatic transfer switch, which we also manufacture. Air-cooled engine home standby generators range in outputs from 7.5kW to 28kW and serve as an emergency backup for small to medium-sized homes. In 2025, we launched the latest generation lineup of our air-cooled home standby generators, which represents the most comprehensive platform update for the category in more than a decade. Liquid-cooled engine generators serve as emergency backup for larger homes and small businesses and range in output from 22kW to 150kW.

As the product category leader, we believe we have the broadest line of home standby generators in the marketplace. Our ability to innovate with new products, features, and capabilities is a key differentiator that helps us maintain our leadership position in the home standby category. Every home standby generator that we offer is equipped with Mobile Link™. This remote monitoring capability is a standard feature that allows our customers to check the status of their generator remotely from their smart phone or tablet, and also provides the capability to similarly receive maintenance and service alerts. This remote monitoring information can also be accessed by our dealers to help them monitor their installed base of products and proactively support their customers. The data that is provided by this remote monitoring functionality also allows us to better understand our products in the field, helping to optimize both product quality and customer satisfaction. We also offer propane tank monitoring solutions which drive further incremental value and peace of mind to owners of our home standby generators that use propane as a fuel source.

6

Table of Contents

In 2021, we acquired ecobee, a leader in sustainable smart home solutions such as smart thermostats and home monitoring products, all designed with a focus on energy conservation, convenience, peace of mind and comfort. ecobee’s smart home energy management devices and complementary sensors intelligently optimize heating and cooling systems, often the largest energy consuming system within a home, to deliver significant energy savings for homeowners. ecobee also offers a line of smart doorbell cameras, which are fully integrated with ecobee’s products and help to drive increased consumer engagement with their platform. The capabilities provided by ecobee, paired with our existing Mobile Link remote monitoring system, provide the foundation for Generac’s connectivity infrastructure and enable the build-out of our residential energy management ecosystem. Importantly, we are leveraging ecobee’s technologies and software development expertise to develop a user interface at the center of our home energy ecosystem that will allow homeowners to monitor and control Generac’s entire suite of products using a common platform. Our home standby generators and propane tank monitors are now fully integrated with the ecobee interface, allowing for a more dynamic user experience for homeowners.

In 2020, we launched a line of home energy storage systems marketed under the Generac brand and using the PWRcell™ brand name. This system captures and stores electricity from solar panels or other power sources and helps reduce home energy costs while also protecting homes from shorter duration power outages. PWRcell systems can range in size from 9kWh up to 72kWh of storage capacity, depending on how many battery modules are installed with any given system. In 2025, we launched the PWRcell 2 Series, the next generation of our PWRcell energy storage system, which includes significant improvements in performance and capability as compared to the first generation. Importantly, PWRcell 2 incorporates seamless integration with our home standby and portable generators, allowing homeowners to realize the favorable economics of energy storage systems while also having a “bottomless battery” via generator backup. In 2025, we also introduced the PWRmicro, our first Generac branded microinverter that enables on-site solar power generation by converting DC power output from solar panels to AC power that can be used in the home. This product represents Generac’s entrance into the solar-only market, unlocking incremental market opportunities for our energy technology solutions. Our next-generation clean energy products and solutions, including PWRcell 2 and PWRmicro, are also fully integrated with the ecobee platform. We believe the integration of our products and solutions into a single cohesive ecosystem will drive additional peace of mind, comfort, energy efficiency, and ultimately lower utility bills for homeowners. Our ecosystem approach to our residential installed products is yet another differentiator that demonstrates our innovative approach to the market.

All of our residential energy technology products and home standby generators come with grid-connection capabilities, enabling consumers to connect and enroll their DERs in available grid services programs. These utility-sponsored programs, when and where offered, can provide value to homeowners in the form of lower utility costs, while also helping to provide grid operators with incremental capacity to address supply/demand imbalances on the grid.

We also provide a broad product line of portable and inverter generators that range in size from 800W to 18kW, as well as various portable battery solutions that provide clean, emission-free power at the push of a button. These products can be used on a limited basis for home backup, construction, and recreational purposes. Our portable and inverter generators are targeted at homeowners, professional contractors, and recreational users, with price points ranging between the consumer value end of the market through the premium end. In addition, we offer manual transfer switches to supplement our portable generator product offering.

We also manufacture a broad product line of outdoor power equipment referred to as “chore products”, which are used in property maintenance applications for larger-acreage residences, commercial properties, municipalities, and farms. These products include trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, pressure washers and water pumps. Chore products are largely sold in North America through direct-to-consumer online catalogs, retail hardware stores, and outdoor power equipment dealers, primarily under the DR® brand name.

Residential products comprised 53.9%, 56.6% and 51.3%, respectively, of total net sales in 2025, 2024 and 2023.

Commercial & Industrial Products

We offer a full line of C&I generators that are sold around the world. We are a leader in cleaner-burning natural gas fueled generators, and also have a full offering of C&I generators that are fueled by diesel and Bi-FuelTM. We believe we have one of the broadest product offerings in the industry with power outputs ranging from 10kW up to 3,250kW. In 2025, we continued our new product development efforts by introducing a new line of large mega-watt diesel generator products to address the significant data center market opportunity and other verticals that have larger-scale back-up power requirements.

Our light-commercial standby generators and related transfer switches include a full range of affordable systems from 22kW to 150kW, providing three-phase power sufficient for most small and mid-sized businesses such as grocery stores, convenience stores, restaurants, gas stations, pharmacies, retail banks, smaller health care facilities, and other small-footprint retail applications. Our light-commercial generators predominantly run on natural gas and liquid propane.

7

Table of Contents

We design and manufacture a broad product line of configured stationary generators and related transfer switches for various industrial standby, continuous-duty, and prime-rated applications. Our single-engine industrial generators range in output from 10kW up to 3,250kW, include stationary and containerized mobile packages, and can include our Modular Power Systems (MPS) technology that extends our product range up to much larger multi-megawatt systems through an integrated paralleling configuration. Over the past several years, we have introduced larger and higher-powered gaseous-fueled generators, with the highest output of 1,000kW for a single-engine set.

Our industrial standby generators are primarily used as emergency backup for larger applications such as data centers, healthcare, telecom, datacom, commercial office, retail, distribution centers, manufacturing, and municipal, among others. In recent years, we have seen interest in utilizing our gaseous-fueled generators in "beyond standby" applications, including distributed generation and microgrid projects, and have developed purpose-built products for these applications that have grid-connected capability. This functionality allows the owner of the equipment to offset the up-front capital cost of the equipment by monetizing the asset over its useful life.

Our MPS technology combines the power of several smaller generators to produce the output of a larger generator, providing our customers with redundancy and scalability in a cost-effective manner. For larger industrial applications, our MPS products offer customers an efficient, affordable way to scale their standby power needs, while offering superior reliability given their built-in redundancy which allows individual units to be taken off-line for routine maintenance while retaining coverage for critical circuits.

We also offer a full line of industrial transfer switches to meet varying needs from light commercial applications all the way up to the most demanding mission-critical installations. In recent years, we have significantly increased and upgraded our industrial transfer switch product offering, which we believe will help to enhance our attachment rate and related market share for these products. Generac’s innovative feature set and flexible platforms offer a variety of switching configurations to meet almost any project needs.

We design and manufacture a broad product line of C&I mobile products such as light towers and mobile generators, which provide temporary lighting and power for various end markets around the world (such as road and commercial construction, energy, mining, military, and special events). We also offer commercial mobile pumps, heaters, and dust-suppression equipment for a wide variety of applications. Our mobile products are typically sold globally to national and regional rental companies who then rent the equipment to the end user.

We have continued to expand our portfolio of energy technology solutions for C&I applications as well. In 2021, we acquired Off Grid Energy, a European based manufacturer of mobile energy storage systems predominantly used in the rental markets. In 2023, we acquired REFU, a European based provider of stationary C&I BESS solutions and related inverter products, which expanded our product offering to enter certain C&I BESS markets around the world. In 2024, we strengthened our position in the North American C&I BESS market with the acquisition of SunGrid’s C&I BESS product offering, based out of Canada. In addition, we acquired Ageto in 2024, a leading provider of microgrid controllers that seamlessly integrate, optimize and manage DERs. We believe that combining these collective products and solutions with our traditional generator product offerings will allow us to capture market share in the developing markets for C&I BESS and multi-asset microgrids.

Our C&I BESS solutions are primarily targeted at “behind-the-meter” applications for on-site energy storage. We expect to leverage our leading position as a provider of traditional stationary generators to gain share in the global C&I BESS market. This expertise is particularly beneficial for multi-asset microgrid solutions that combine generators with energy storage assets, providing facility owners with the many benefits of behind-the-meter storage with longer duration outage protection. These microgrids can also include Generac’s other energy management assets and control systems, helping to build out a full ecosystem of capabilities for these applications.

We also continue to develop other energy technology products, including mobile battery-powered light towers and hybrid mobile solutions that pair a battery with a diesel engine to reduce emissions and noise pollution.

Through our Deep Sea subsidiary, we have expanded our capabilities in the design and manufacture of advanced controls for a wide range of C&I power generation applications. In addition, our natural gas C&I stationary generators have grid-connection capabilities, enabling our customers to generate an incremental return-on-investment by connecting and enrolling their generator as a DER in grid services applications where available. Finally, we continue to provide various gaseous-engine control systems and accessories, which are used in our natural gas generators, as well as sold to other gas-engine manufacturers and aftermarket customers.

C&I products comprised 34.6%, 32.3% and 37.2%, respectively, of total net sales in 2025, 2024 and 2023.

8

Table of Contents

Other Products and Services

Our “Other products and services” category primarily consists of aftermarket service parts and product accessories sold to our customers, installation and maintenance services, extended warranty revenue, grid services and other software-related subscription revenue, remote monitoring subscription revenue, and other project management service offerings provided by our owned industrial distributors.

Included in this “Other products and services” category are certain recurring revenues that are generated by ecobee, Blue Pillar, Ageto, and our Mobile Link software platform, as follows:

ecobee recognizes service revenue in certain circumstances when a homeowner enrolls their smart thermostat in a grid services program offered by their utility. When authorized, ecobee can provide utilities direct connection to a homeowner’s smart thermostat, thereby allowing control of a significant portion of the home’s electrical load. In exchange for this capability, utilities pay ecobee for that connection.

The 2022 acquisition of Blue Pillar expanded our C&I connectivity capabilities and provides a standard protocol for all of our C&I products to be connected. In addition to connectivity device hardware sales, Blue Pillar recognizes software subscription and support revenue resulting from the monitoring and management capabilities its platform provides to customers.

The 2024 acquisition of Ageto further enhanced our advanced microgrid control capabilities. In addition to its controls hardware, Ageto’s solutions include software-as-a-service contracts for site level system integration and control of end customer energy assets that make up a microgrid.

Finally, our expansive Mobile Link platform provides remote monitoring services for our residential home standby customers and “Fleet” services for our residential home standby dealers, whereby we collect subscription revenue for these services on a recurring basis.

"Other products and services" comprised 11.5%, 11.1% and 11.5%, respectively, of total net sales in 2025, 2024 and 2023.

Distribution Channels and Customers

We distribute our products through a variety of distribution channels to drive awareness of our product categories and brands, and to ensure our products reach a broad, global customer base. This omni-channel distribution network includes independent residential dealers and contractors, industrial distributors and dealers, national and regional retailers, e-commerce partners, electrical/HVAC/solar wholesalers, solar installers, catalogs, equipment rental companies, and other equipment distributors. We also sell direct to certain national and regional account customers, as well as to individual consumers or businesses who are the end users of our products. We have commercial sales branches located around the world to provide access to local markets and help build out distribution relationships across the globe.

We believe our global distribution network is a competitive advantage that has strengthened over the years as we continue to add, expand and develop the various distribution channels through which we sell our products. We offer a broad set of tools, programs, factory support, training, and sales leads to help our distribution partners be successful. Our network is well balanced with no single customer providing more than 4% of our net sales in 2025.

For over two decades, we have established the industry's largest network of factory direct independent generator dealers in North America. This residential dealer network is made up of electrical and HVAC contractors across the US and Canada. These dealers sell, install and service our residential and light commercial generators to end users. Over the years, we have made significant investments to grow this dealer network, and we will continue to make those investments in the future given the importance of this channel. We continue to focus on a variety of initiatives to more effectively market and sell our home standby products and better align our dealer network with Generac. We will continue to increase awareness of home standby generators through our enhanced marketing efforts, while also improving customer lead quality as we schedule in-home consultations. We will increase our capabilities to nurture sales leads, while also developing our dealers to help improve close rates and lower our cost per contract over time. Over the years, we have made significant investments in our proprietary in-home selling system for residential dealers that we call “Power Play”. We are continuously making enhancements to this platform, again with the objective of improving the customer experience and overall close rates. Additionally, our remote monitoring platform allows our residential generator dealers to monitor their installed base of customers through a feature that we call “Fleet”, enabling them to offer a more proactive experience to service a customer’s generator. By offering the best product line, pricing, marketing, tools, programs, and customer support, we believe we have built the strongest dealer network in the home standby generator industry.

9

Table of Contents

Our retail distribution channel includes thousands of locations across the globe and includes a variety of national and regional home improvement chains, electronics retailers, clubs, buying groups, hardware & farm supply stores, and outdoor power equipment dealers. These physical “brick & mortar” retail locations are supplemented by a large presence of e-commerce retailers that also sell our products online. The retail channel primarily sells our residential standby and portable generators, as well as our outdoor power equipment and ecobee products. The placement of our products at retail locations drives significant awareness for our brands and the overall home standby generator product category.

Our wholesale network distributes our residential and light-commercial generators, as well as our residential energy storage systems, on a two-step basis. The channel consists of selling branches of both national and local distribution houses for electrical, HVAC, and solar equipment on a wholesale basis. These branches typically sell to electricians, HVAC businesses, and solar installers who are not in our direct dealer network. This channel provides access to a broader range of installers who might not want to become a dealer and buy direct from the factory. As part of our efforts to increase sales and installation bandwidth for home standby generators, we have established an Aligned Contractor Program that provides certain benefits to contractors that purchase our products through this wholesale network and agree to participate in more advanced product and service training. We believe that this program will further align Generac with these independent contractors which is important to increase bandwidth during surge periods of demand in local markets.

In recent years, we have been establishing a base of solar contractors that sell, install and service our PWRcell energy storage systems. We believe we will continue to build out this distribution channel over time by leveraging our decades of expertise in growing our residential generator dealer network. In addition, we believe we can increase mindshare with additional solar installers by enhancing our marketing efforts to drive incremental leads, expanding our clean energy product offering, and integrating our full suite of residential products into a common energy management ecosystem.

In addition, certain of our residential products (such as DR branded chore products, portable generators, ecobee smart thermostat & security products, and parts & accessories) are sold direct to individual consumers, who are the end users of the product. Consumers can buy these products online via our various branded websites, or by calling our customer support hotlines.

Our industrial products are distributed through industrial power generation dealers that cover particular regions around the world. Over the past several years, we have been strengthening our industrial dealer network globally through acquisitions and organic means. Since 2020, we have acquired a number of our industrial distributors in certain regions of the United States in order to accelerate investments and increase market share in those markets. Industrial dealers provide C&I end users with ongoing sales, installation, service and product support. They also help maintain the local relationships with commercial electrical contractors, specifying engineers, and regional buying offices for national accounts. We also sell to certain Engineering, Procurement & Construction (EPC) companies that specialize in managing more complex power generation projects, including microgrids and “beyond standby” applications.

We also sell our industrial products direct to certain end-user customers of our products covering a variety of end market verticals both domestically and internationally. This includes data centers, telecommunication, retail, banking, energy, healthcare, convenience stores, grocery stores, restaurants, governments, and other commercial & industrial applications. We have developed a diverse, global sales force that calls on these opportunities directly and helps customize solutions to each customer’s needs in their local markets. We believe that having direct relationships with these customers, coupled with local support from our global industrial dealer network, is an important advantage when serving these customers.

The distribution for our C&I mobile products includes global, national, regional, and specialty equipment rental companies, equipment distributors, and construction companies which primarily serve non-residential building construction, road construction, energy, special events, municipal, and general rents & hire markets around the world.

Research and Development

Our focus on a broad range of energy technology products and solutions drives technological innovation, advanced engineering & software development capabilities, and specialized manufacturing competencies. Research and development (R&D) has been a core competency for Generac since our inception and today includes a staff of approximately 1,200 engineers working on numerous projects around the world. These professionals are focused on introducing new products, developing new technologies and product enhancements, as well as maintaining product competitiveness by reducing manufacturing and supply chain costs, improving safety, increasing reliability & performance, while also ensuring compliance with regulatory standards. We have significant experience using natural gas engines in our products and have developed specific expertise with fuel systems and emissions technologies. In the residential and light commercial markets, we have developed proprietary engines, alternators, cooling packages, fuel & emissions systems, and controls which help drive innovation while also enhancing the margin profile of those products.

More recently, we have also built out engineering expertise in BESS and power conversion that we are leveraging to compete in clean energy markets. In addition, we have significantly increased our software development capabilities across a variety of applications, including energy management, system-level microgrid controls, and remote monitoring. We have made significant investments in developing a common connectivity and data platform to advance our energy management ecosystems for both residential and C&I markets. Combining advanced software development with our broad engineering capabilities will enable us to develop innovative solutions and ultimately compete in energy technology markets.

We also have engineering and product management resources focused on evaluating and developing alternative technologies that are emerging and could become commercially viable over the long-term, such as fuel cells and hydrogen-fueled products. We have a long history of driving product innovation into the markets that we serve, and as a result, believe we can maintain our leadership position as an energy technology solutions provider.

10

Table of Contents

Intellectual Property

We are committed to research, development, and product innovation, and rely on a combination of patents and trademarks to help establish and protect our proprietary rights. Our patents protect certain features and technologies we have developed for use in our products including fuel systems, air flow, electronics and controls, noise reduction, engines, energy management, energy monitoring, energy storage, and load management. We believe the existence of these patents and trademarks, along with our ongoing processes to register additional patents and trademarks, help protect our intellectual property rights and enhance our brands and competitive position. We also use proprietary manufacturing processes that require customized equipment. With our continuous focus on research and development, we expect to develop new intellectual property on an ongoing basis.

See “Item 1A. Risk Factors” of this Annual Report on Form 10-K for additional factors related to intellectual property rights that can affect our business.

Manufacturing

We operate numerous manufacturing plants, distribution facilities, and inventory warehouses located throughout the world. We also store finished goods at third-party logistics providers in the United States that accommodate material storage and rapid response requirements of our customers. See “Item 2 – Properties” of this Annual Report on Form 10-K for additional details regarding the locations and activities of our principal operations.

Over the last few decades, we have developed significant manufacturing capabilities in the power generation industry, including engines, alternators, sheet metal fabrication, and controls. We have a heavy focus on vertical integration using certain proprietary manufacturing processes, and we outsource certain components and complete products where we can leverage scale to optimize cost and quality.

In recent years, we have added manufacturing capacity through significant investments in automation, including alternator production, engine assembly, robotic lasers & welding, sheet metal fabrication, and other assembly line automation. We have also increased capacity by starting up new manufacturing facilities and adding on to existing locations, helping to expand our manufacturing footprint and meet increased demand for our products around the world. Given the significant data center opportunity, we expect to increase our manufacturing, test cell, and packaging capacity even further to be able to win market share and serve data center customers globally. Our ability to rapidly increase manufacturing capacity has been critical to our growth over the years.

For our energy technology products, our engineering and technical teams are closely aligned with our contract manufacturing partners in order to leverage their expertise and capital investments involving electrical component manufacturing.

Suppliers of Raw Materials, Components and Equipment

Our primary raw material inputs are steel, copper and aluminum, all of which are purchased from third parties and, in many cases, are part of machined or manufactured components. We procure certain diesel engines, cooling packages, and alternators for our larger C&I products from various suppliers around the world. For our home standby generators where we have significant scale, we have a large global supply chain that manufactures certain components, and then we complete final assembly in our factories in the United States. In certain instances, we purchase complete finished goods from third-party suppliers, including from contract manufacturers. Given our broad offering of energy technology solutions, advanced electronic components and micro-processors are now a larger supply chain consideration. In addition, batteries are a significant supply chain input for our energy storage systems for residential and C&I behind-the-meter applications.

Over multiple decades, we have developed an extensive network of reliable suppliers in the United States and around the world. Our strategic global sourcing teams continuously evaluate the quality and cost structure of our purchased components & equipment, and assess the capabilities and capacity of our supply chain. We select our sourcing partners based on this evaluation. For certain products, we do not have internal manufacturing capabilities and rely on a small number of contract manufacturers to build these products or supply these components, including but not limited to certain energy technology products and components.

Similarly, we have diversified the geographic reach of our global supply chain partners. More recently, we have evolved this global supply chain in order to partially mitigate the impact of certain trade tariffs that have been assessed on imports coming into the United States. This will continue to be a focus in the future as we take actions to offset the impact of these tariffs, and we will continue to monitor ongoing developments with any new trade tariffs that may be implemented.

See “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Annual Report on Form 10-K for additional information regarding the impact of other macroeconomic factors on our results of operations.

See “Item 1A. Risk Factors” of this Annual Report on Form 10-K for additional factors that can influence our supply of raw materials, components and equipment.

11

Table of Contents

Competition

In our traditional power generation markets, we face competition from a variety of large, diversified industrial companies, as well as smaller generator manufacturers or packagers around the world. The competitive landscape varies between our Residential and C&I power generation products. We face a different set of competitors for our mobile equipment and engine-powered tools as well. In recent years, our competitive landscape has expanded as we enter certain energy technology markets, including solar inverters, battery storage systems, smart thermostats, and grid services.

In the overall generator market, many of the traditional participants compete in only certain portions of the market, targeting specific applications within their larger, diversified product mix. In addition, for certain competitors, power generation is typically a smaller piece of their business, and therefore, is less prioritized from a strategic standpoint. Generac’s primary focus is on power generation and storage equipment with a key emphasis on standby, portable and mobile products and broad capabilities across residential, light-commercial and industrial markets. We believe that our core focus on power generation and storage drives product innovation and provides us with competitive advantages to win in the marketplace. We also believe our broad product offering, diverse omni-channel distribution model, and strong factory support provide additional advantages as well.

The following is a list of competitors by product class:

Residential products – Competitors include Rehlko (formerly known as Kohler Power), Briggs & Stratton, Honda, Champion, Techtronics International, Harbor Freight, Husqvarna, Ariens, Tesla, Enphase, Solar Edge, Google, Resideo, The Toro Company, EcoFlow, and Emerson, along with a number of other domestic and foreign competitors; certain of which also have broad operations in other manufacturing businesses.

C&I products – Competitors include Caterpillar, Cummins, Rehlko (formerly known as Kohler Power), IGSA, MTU (Rolls Royce), AKSA, MultiQuip, Wacker, Doosan, Atlas Copco, Himoinsa, Woodward, Planelec, and Co-map, as well as other domestic and foreign competitors that package engines and alternators into power generation equipment in local markets around the world.

Other products – Relative to service parts and extended warranty revenue, all of the above-named companies are primary competitors.

Overall, we compete primarily based on brand reputation, quality, reliability, pricing, innovative features, breadth of product & solution offering, product availability and factory support. In a continuously evolving market, we believe our scale and broad capabilities position us well to remain competitive.

Government Incentives and Regulation, including Environmental Matters

Generac’s presence in energy technology solutions has increased our exposure to renewable energy mandates and investment tax credits from certain government incentives. These incentives cover a wide range of clean energy products and solutions, including solar inverters, battery storage systems, grid services, and grid-edge devices. They include both investment tax credits to owners of these systems and production tax credits to manufacturers of these products. The availability, size, and outlook for such incentives can impact the markets for these products and solutions.

In July 2025, the United States passed the One Big Beautiful Bill Act that accelerates the phase-out of tax incentives for the solar market and includes certain domestic supply chain requirements to qualify for these incentives. While this phase-out of tax incentives will negatively impact the solar and storage markets in the near term, we believe the overall mega-trends that drive the solar, storage, and energy management markets will continue, supporting customer interest and demand for these products over the long-term as grid capacity is strained and energy costs rise.

As a manufacturing company, our operations are subject to a variety of federal, state, local and foreign laws & regulations covering environmental, health and safety matters. Applicable laws & regulations include those governing, among other things, emissions to air, discharges to water, noise, and safety, as well as the generation, handling, storage, transportation, treatment, and disposal of hazardous waste and other materials. In addition, our products are subject to various laws & regulations relating to fuel requirements, labeling, and marketing.

Our products sold in the United States are regulated by the U.S. Environmental Protection Agency (EPA), California Air Resources Board (CARB) and various other state and local air quality management districts. All of our engines and engine-driven products sold in the U.S. are regulated, and these governing bodies continue to pass regulations that require us to meet more stringent emission standards. In addition, certain of our products are subject to safety standards as established by various other standards and rulemaking bodies, including the U.S. Consumer Product Safety Commission (CPSC), among others. Similarly, other countries have varying degrees of regulation for our products, depending upon product application and fuel types.

See “Item 1A. Risk Factors” to this Annual Report on Form 10-K for additional legal and regulatory factors that can affect the products we sell and the results of our operations.

12

Table of Contents

Sustainability Practices

We published a report on our sustainability practices in April 2025. This report details certain measures that align with our “Powering a Smarter World” enterprise strategy and our purpose statement: 'To lead the evolution to more resilient, efficient, and innovative energy solutions.' The information provided within the sustainability report is not part of this report, and is therefore not incorporated herein by reference. A copy of our 2024 Sustainability & Impact Report is available on our Investor Relations webpage at Generac.com. We plan to publish an updated report on our sustainability practices in April 2026 that coincides with the filing of our annual Proxy Statement.

Human Capital

“Our People” are one of the foundational elements of our Powering a Smarter World enterprise strategy, reflecting the belief that our values and culture are essential to delivering long-term success. Grounded in our Corporate Values —Agility, Innovation, Integrity, Teamwork, Accountability, Customer—we foster a culture of engagement that strengthens our company and empowers employees to take action, grow, and achieve. We believe our success is directly connected to the professional development, engagement, and well being of our employees.

Some examples of key human capital programs and initiatives include:

Health, wellness and safety – Employee health and safety is the Company’s top priority. Generac’s total rewards program is based on the four pillars of physical, financial, emotional, and social. These programs are designed to meet the varied and evolving needs of our diverse workforce. We maintain an employee wellness program, incentivize healthy-living activities, and develop and administer company-wide policies to help ensure the safety of each employee and compliance with government agencies and other standards.

Talent development & employee engagement – Our success is directly tied to our employees and what we can accomplish together. We prioritize creating opportunities to help employees build careers and then support their growth as part of a meaningful and valuable employee experience. We conduct internal career development activities as well as partner with third party educational resources to offer on the job learning, collaborative work experiences and formal learning programs to support the progression and advancement of our workforce. Further, we maintain an ongoing global employee engagement initiative with targeted action plans by region, function, and business groups. Action plans and their progress are measured by global employee engagement surveys. A global human capital management system enables Generac management to improve talent decisions, proactively manage careers, scale globally, and maintain compliance. We are an equal opportunity employer whose hiring and promotion practices comply with applicable laws, and we do not condone employment discrimination in any form.

As of December 31, 2025, we employed 9,400, including part-time and temporary employees. Of those, approximately 4,200 employees were directly or indirectly involved in manufacturing. Domestically, we have had an “open shop” bargaining agreement for the past 50 years that covers one Wisconsin facility. That facility is subject to a collective bargaining agreement that expires October 17, 2026, and is subject to Wisconsin’s Right to Work law.  Three additional smaller facilities are subject to a collective bargaining agreement for its technicians. That collective bargaining agreement expires October 31, 2027, and is subject to a Union Security provision. Additionally, certain plants in Mexico, Italy, Germany, and Spain are operated under various local or national union groups or works councils. Our other facilities are not unionized.

Available Information

Our principal executive offices are located at S45 W29290 Highway 59, Waukesha, Wisconsin, 53189 and our telephone number is (262) 544-4811. The Company’s website is www.generac.com. Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports (if applicable) are available free of charge through the “Investor Relations” portion of our web site, as soon as reasonably practicable after they are filed with the Securities and Exchange Commission (SEC). The information provided on these websites is not part of this report and is therefore not incorporated herein by reference.

13

Table of Contents

Information About Our Executive Officers

The following table sets forth information regarding our executive officers:

Aaron P. Jagdfeld has served as our Chief Executive Officer since September 2008, as a director since November 2006 and was named Chairman in February 2016. Prior to becoming Chief Executive Officer, Mr. Jagdfeld worked for Generac for 15 years. He began his career in the finance department in 1994 and became our Chief Financial Officer in 2002. In 2007, he was appointed President and was responsible for sales, marketing, engineering and product development. Prior to joining Generac, Mr. Jagdfeld worked in the audit practice of the Milwaukee, Wisconsin office of Deloitte and Touche. Mr. Jagdfeld holds a Bachelor of Business Administration in Accounting from the University of Wisconsin-Whitewater.

York A. Ragen has served as our Chief Financial Officer since September 2008. Prior to becoming Chief Financial Officer, Mr. Ragen held Director of Finance and Vice President of Finance positions at Generac. Prior to joining Generac in 2005, Mr. Ragen was Vice President, Corporate Controller at APW Ltd., a spin-off from Applied Power Inc., now known as Enerpac Tool Group. Mr. Ragen began his career at Arthur Andersen in the Milwaukee, Wisconsin office audit practice. Mr. Ragen holds a Bachelor of Business Administration in Accounting from the University of Wisconsin-Whitewater.

Erik Wilde began serving as our President, Domestic C&I in July 2016. Mr. Wilde was Vice President and General Manager of the Mining Division for Komatsu America Corp., a manufacturer of construction, mining, and compact construction equipment, from 2013 until he joined Generac. Prior to that role, he held leadership positions as Vice President of the ICT Business Division and Product Marketing at Komatsu America Corp. beginning in 2005. Mr. Wilde holds a Bachelor of Business Administration in Management from Boise State University and an M.B.A. from the Keller Graduate School of Management.

Raj Kanuru is our Executive Vice President, General Counsel & Secretary and is the Company’s principal legal and compliance officer, roles that he has held since joining Generac in 2013. Prior to joining Generac, Mr. Kanuru served as in-house counsel at Caterpillar Inc. for almost 14 years within various leadership roles, including in Caterpillar’s Securities, Regulatory and Tax group, in Caterpillar Financial, and in Caterpillar’s Energy & Transportation group. From 2009 to 2013, Mr. Kanuru served as Vice President, General Counsel and Secretary of Progress Rail Services Inc., and its subsidiaries (a Caterpillar company). He began his legal career as a senior associate in the tax consulting practice of Arthur Andersen LLP. Mr. Kanuru holds a Bachelor of Science in Finance degree from Birmingham-Southern College and received his Juris Doctor degree from the University of Alabama.

Norman Taffe began serving as President, Energy Technology in August 2022. Prior to joining Generac, Mr. Taffe was Executive Vice President North America Residential of SunPower Corporation from 2018 to 2021. Prior to this, Mr. Taffe was Executive Vice President - Products and Vice President of Power Plant Products and Solutions from 2013 to 2018. Mr. Taffe also worked in various engineering and marketing management capacities at Cypress Semiconductor from 1989 to 2012, including Executive Vice President – Consumer & Computation Devices from 2005 to 2012. Mr. Taffe holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an Executive MBA from Harvard Business School.

Kyle Raabe has served as our President, Consumer Power since November 2019. Prior to rejoining Generac, Mr. Raabe was Senior Vice President of North American Sales, Demand Planning and Sales Operations from 2018 through 2019 and Vice President of Sales for the Commercial Security and Safety groups from 2015 through 2018 at The Master Lock Corporation, a manufacturer of locks, combination padlocks and other security products. Prior to working at The Master Lock Corporation, Mr. Raabe led multiple groups at Generac Power Systems from 2007 through 2015 as Director of Wholesale and Dealer Distribution, Vice President Wholesale Distribution Sales and Vice President, Industrial Distribution Sales. Before joining Generac, Mr. Raabe served at Veolia North America, Environmental Services leading Midwest Regional Service Operations. Mr. Raabe holds a BA, Biological Science from Lawrence University.