Slide 1: First Solar Q2'23 Earnings Call
First Solar Q2’23 Earnings Call July 27, 2023
Slide 2: Important Information
| Important Information Cautionary Note Regarding Forward Looking Statements This presentation contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this presentation, other than statements of
Slide 3: Second Quarter 2023 Update
| Second Quarter 2023 Update Year to date bookings of 21.1 GW; 8.9 GW since previous earnings call Demand Total bookings backlog of 77.8 GW extending through 2030 Total bookings opportunities of 78.3 GW; 48.5 GW mid-to-late stage 2.4 GW produced Series 6 (1) 475 watt top bin, 468 watt aver
Slide 4: Facilities Update
| Facilities Update India Ohio Expected Expansion 2H 2023 and R&D Facility Expected 2024 Alabama 5th US Expected Facility 2024 Expected © 2023 Copyright First Solar, Inc. 2026 4
Slide 5: Expected Module Volume Sold (GW)
| Expected Module Volume Sold (GW): 7.5 GW 77.8 GW 85.0 80.0 75.0 13.6 GW 70.3 GW 70.0 65.0 61.4 GW 4.7 GW 60.0 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 - Dec 31, 2022 (1) YTD Volume Sold as of YTD Net Bookings as of June 30, 2023 (4) QTD Net-Bookings July 27, 2023 (6) June 30, 2023 (2)
Slide 6: Potential Booking Opportunities
| Potential Booking Opportunities Total bookings opportunities Mid-to-Late stage opportunities 0.2 2.2 3.2 1.8 5.5 15.9 57.0 41.0 © 2023 Copyright First Solar, Inc. 6.7 GW of opportunities confirmed, but not booked 78.3 GW Opportunity 48.5 GW Opportunity 6
Slide 7: 2023 Sustainability Report: 2022 Highlights
| 2023 Sustainability Report: 2022 Highlights © 2023 Copyright First Solar, Inc. 7
Slide 8: Income Statement Highlights
| Income Statement Highlights (In millions, except per share amounts)(1) Q2 2023A Q1 2023A Q2 2022A QoQ Change YoY Change Net sales $811 $548 $621 $262 $190 Gross profit (loss) % 38.3% 20.4% (3.7%) 17.9% 42.0% Selling, general and administrative 46 44 39 2 7 Research and development 37 31 25 6 12 Pr
Slide 9: Balance Sheet Highlights
| Balance Sheet Highlights Q2 2023A (In millions)(1) Q2 2023A Q1 2023A Q2 2022A QoQ Change YoY Change Cash and marketable securities(2) $1,899 $2,287 $1,853 (389) 46 Accounts receivable(3) 668 325 490 344 179 Inventories - current and noncurrent 1,013 1,005 1,049 9 (36) Property, plant and equipment
Slide 10: 2023 Guidance as of July 27, 2023
| 2023 Guidance as of July 27, 2023 (1) Prior Current Net Sales $3.4B to $3.6B Unchanged Gross Margin ($)(2) $1.2B to $1.3B Unchanged Operating Expenses(3) $415M to $440M $450M to $475M Operating Income(4) $745M to $870M Unchanged Earnings Per Share $7.00 to $8.00 Unchanged Net Cash Balance(5) $1.2B
Slide 11: Summary and Highlights
| Summary and Highlights Year to date bookings of 21.1 GW Demand Total contracted backlog of 77.8 GW extending through 2030 Record Q2 production of 2.8 GW, including 425 MW of new Series 7 technology India, Ohio expansion, Alabama, and R&D facility construction on schedule Manufacturing Bi
Slide 12: Trademark notice
© 2023 Copyright First Solar, Inc. First Solar, the First Solar logo, and Leading the World’s Sustainable Energy Future are trademarks of First Solar, Inc., registered in the U.S. and other countries. Series 6, Series 6 Plus, CuRe, Series 6 CuRe, and the Series 6 CuRe logo are trademarks of First So