Slide 1: First Solar Q1'21 Earnings Call
First Solar Q1’21 Earnings Call April 29, 2021
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: Module Segment Update
| Module Segment Update Manufacturing 2.4 GW of year-to-date production(1); consistently producing 455 watt modules Updates Second Series 6 factory in Malaysia exited ramp period; nameplate manufacturing capacity to 7.9 GW Delivered strong manufacturing results despite planned and unplanned do
Slide 4: Systems Segment Update
| Systems Segment Update In March completed the sales of the Sun Streams 2, 4, and 5 projects Project In April completed the sale of the Sun Streams 3 project Sales Across these four projects, Longroad Energy intends to utilize approximately 1 GW of Series 6 modules, of which 785 MW represent
Slide 5: Expected Module Shipments (GWDC)
| Expected Module Shipments(1) (GWDC): Systems + Third-Party Module 0.9 GW 14.8 GW 11.8 GW 3.9 GW (1.8) GW(2) Dec 31, 2020 YTD Shipments as of YTD Net-Bookings as QTD Net-Bookings Apr 29, 2021(5) Mar 31, 2021 of Mar 31, 2021(3) Q2’21(4) The above table presents the actual module shipments for 2021 t
Slide 6: Mid-to-Late Stage Booking Opportunities
| Mid-to-Late Stage Booking Opportunities: By Geography Other Europe South America North America India © 2021 Copyright First Solar, Inc. 7.8 GWDC Opportunity Mid-to-Late Stage Only 6 First Solar Proprietary & Confidential - Finance/Accounting/RND
Slide 7: Quarterly Income Statement Highlights
| Quarterly Income Statement Highlights (In millions, except per share amounts)(1) Q1 2021A Q4 2020A Q1 2020A QoQ Change YoY Change Net sales $803 $609 $532 $194 $271 Gross profit % 23.0% 26.2% 17.0% (3.2%) 6.0% Selling, general and administrative 52 63 59 (11) (7) Research and development 20 23 26
Slide 8: Quarterly Balance Sheet Highlights
| Quarterly Balance Sheet Highlights (In millions)(1) Q1 2021A Q4 2020A Q1 2020A QoQ Change YoY Change Cash and marketable securities(2) $1,797 $1,794 $1,598 3 198 Accounts receivable(3) 817 292 411 525 406 Inventories (current and noncurrent) 755 769 662 (13) 93 Property, plant and equipment, net 2
Slide 9: 2021 Guidance as of April 29, 2021
| 2021 Guidance as of April 29, 2021 Prior Current Net Sales $2.85B to $3.0B $2.85B to $3.025B Gross Margin ($)(1) $710M to $775M $695M to $775M Operating Expenses(2) $285M to $300M Unchanged Operating Income(3,4) $545M to $640M Unchanged Earnings Per Share $4.05 to $4.75 Unchanged Net Cash Balance(
Slide 10: Summary & Highlights
| Summary & Highlights Q1’21 EPS of $1.96 per share $1.5 billion net cash(1) position Financial Module segment gross margin in line with Q1 guidance Closed sales of U.S. Project Development and North American O&M businesses Reiterate 2021 EPS guidance of $4.05 to $4.75 Second Series 6 fa
Slide 11: Copyright and trademarks
© 2021 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