Slide 1: First Solar Q1'24 Earnings Call
First Solar Q1’24 Earnings Call May 1, 2024
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: First Quarter 2024 Update
| First Quarter 2024 Update Year to date bookings of 2.7 GW at ASP of 31.3 cents per watt, excluding adjusters Demand Total bookings backlog of 78.3 GW extending through 2030 Total bookings opportunities of 72.8 GW; 29.4 GW mid-to-late stage Production: S6 2.4 GW / S7 1.2 GW Manufacturing(1)
Slide 4: Facilities Update
| Facilities Update © 2024 Copyright First Solar, Inc. Ohio Expansion and R&D Facility Alabama Louisiana Expected 2024 Expected 2024 Expected 2025 4
Slide 5: Expected Module Volume Sold (GWDC)
| Expected Module Volume Sold (GWDC): 85.0 78.3 GW 2.7 GW 2.7 GW 78.3 GW [6.7] GW 0.0 GW 78.3 GW 9.9 GW 80.0 75.0 70.0 65.0 60.0 48.3 GW 55.0 50.0 45.0 40.0 35.0 (9.3) GW 30.0 25.0 20.0 15.0 10.0 5.0 - Dec 31, 2023 (1) YTD Volume Sold as of YTD Net Bookings as of Mar 31, 2024 (4) QTD Net-Bookings Ma
Slide 6: Potential Booking Opportunities
| Potential Booking Opportunities Total bookings opportunities Mid-to-Late stage opportunities 1.2 1.0 0.3 10.8 3.3 59.8 25.8 © 2024 Copyright First Solar, Inc. 3.7 GW of opportunities confirmed, but not booked 72.8 GW Opportunity 29.4 GW Opportunity 6
Slide 7: Income Statement Highlights
| Income Statement Highlights (In millions, except per share amounts)(1) Q1 2024A Q4 2023A Q1 2023A QoQ Change YoY Change Net sales $794 $1,159 $548 ($364) $246 Gross profit % 43.6% 43.3% 20.4% 0.2% 23.1% Selling, general and administrative 46 57 44 (11) 2 Research and development 43 44 31 (1) 12 Pr
Slide 8: Balance Sheet Highlights
| Balance Sheet Highlights Q1 2024A (In millions)(1) Q1 2024A Q4 2023A Q1 2023A QoQ Change YoY Change Cash and marketable securities(2) $2,011 $2,121 $2,287 (110) (276) Accounts receivable 670 661 299 9 371 Inventories - current and noncurrent 1,236 1,087 1,005 149 231 Property, plant and equipment,
Slide 9: 2024 Guidance as of May 1, 2024
| 2024 Guidance as of May 1, 2024 (1) Prior Current Expected Earnings Cadence Net Sales $4.4B to $4.6B Unchanged “From an earnings cadence perspective, we Gross Margin ($)(2) $2.0B to $2.1B Unchanged expect our net sales and cost of sales profile, excluding the benefit of Section 45X tax Operating E
Slide 10: Policy Update
| Policy Update Structural overcapacity in China • China ended 2023 with 861 GW of capacity, versus FY 2023 worldwide deployment of 390 GW 1 drives volatility, undermines US, • Average utilization rates of Chinese large capacity factories declined to 23% in February 2024 2 Europe and India industria
Slide 11: Summary and Highlights
| Summary and Highlights 2.7 GW of YTD net bookings at ASP of 31.3 cents per watt, excluding adjusters Demand Current contracted backlog of 78.3 GW Opportunity pipeline of 72.8 GW, including 29.4 GW mid-to-late stage Record Q1 production of 3.6 GW Alabama, Louisiana, and Ohio expansions on
Slide 12: Copyright and trademarks
© 2024 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