FUELCELL ENERGY INC

Index to Item 1. BUSINESS Page Forward-Looking Statement Disclaimer 4 Risk Factor Summary 6 General Information 8 Overview 9 Our Market Opportunity and Value Proposition 9 Our Markets 11 Our Business Strategy 11 Recent Restructuring 12 Our Business Model 12 Our Product Platform and Applications 13 Competition 16 Our Commitment to Sustainability 17 Research and Development 17 Proprietary Rights and Licensed Technology 19 Manufacturing and Service Facilities 20 Raw Material Sourcing and Supplier Relationships 21 Engineering, Procurement and Construction 22 Services and Warranty Agreements 22 Government Regulation and Public Policy 22 Significant Customers 24 Human Capital Management and Development 24 Available Information 25 3 Table of Contents Forward-Looking Statement Disclaimer This Annual Report on Form 10-K contains statements that the Company believes to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the PSLRA ). All statements other than statements of historical fact included in this Form 10-K, including statements regarding the Company’s future financial condition, future results of operations, plans, objectives, expectations, future performance, future business operations and business prospects, are forward-looking statements.