Slide 1: First Solar Q2'22 Earnings Call
First Solar Q2’22 Earnings Call July 28, 2022
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 2022 Update
| Second Quarter 2022 Update Bookings, Year to date bookings of 27.1 GW; 10.4 GW since previous earnings call Production, Q2 2022 production of approximately 2.2 GW Shipments Q2 2022 shipments of approximately 2.5 GW Manufacturing 112% fleet-wide capacity utilization; 114% when adjusted for
Slide 4: Expected Module Shipments
| Expected Module Shipments(1) (GWDC): 44.3 GW 8.2 GW 18.9 GW 21.4 GW (4.2) GW Dec 31, 2021 YTD Shipments as of YTD Net-Bookings as QTD Net-Bookings July 28, 2022(5) June 30, 2022(2) of June 30, 2022(3) Q3 2022(4) The above table presents the actual module shipments for 2022 through June 30, 2022, n
Slide 5: Potential Booking Opportunities
| Potential Booking Opportunities Total Booking Opportunities Mid-to-Late Stage Booking Opportunities 5.7 4.2 20.6 9.7 26.2 3.9 © 2022 Copyright First Solar, Inc. 2.1 GWDC of opportunities confirmed, but not booked 52.5 GWDC Opportunity 17.8 GWDC Opportunity 5
Slide 6: Legacy Systems Business Events
| Legacy Systems Business Events Japan Platform 2022 Guidance Q2 2022 2022 Guidance (in millions) (as of April 28, 2022) Actuals (as of July 28, 2022) Gain on Sale of Businesses, Net $270 - $290 $245 $245 Tax Expense $(26) $(13) $(14) After-tax Gain on Sale of Businesses $244 - $264 $232 $231 Luz de
Slide 7: Income Statement Highlights
| Income Statement Highlights (In millions, except per share amounts)(1) Q2 2022A Q1 2022A Q2 2021A QoQ Change YoY Change Net sales $621 $367 $629 $254 ($8) Gross (loss) profit % (3.7%) 3.1% 27.7% (6.8%) (31.4%) Selling, general and administrative 39 37 36 2 3 Research and development 25 27 24 (2) 1
Slide 8: Balance Sheet Highlights
| Balance Sheet Highlights (In millions)(1) Q2 2022A Q1 2022A Q2 2021A QoQ Change YoY Change Cash and marketable securities(2) $1,853 $1,558 $2,052 295 (199) Accounts receivable(3) 490 322 598 168 (108) Inventories - current and noncurrent 1,049 1,079 830 (29) 220 Property, plant and equipment, net
Slide 9: 2022 Guidance as of July 28, 2022
| 2022 Guidance as of July 28, 2022 Prior Current Net Sales $2.4B to $2.6B $2.55B to $2.8B Gross Profit (1,2) $155M to $215M $115M to $165M Operating Expenses(3) $365M to $380M $350M to $365M Operating Income(2,4,5) $55M to $150M $5M to $70M Earnings (Loss) Per Share $0.00 to $0.60 $(0.25) to $0.25
Slide 10: Summary & Highlights
| Summary & Highlights Q2 2022 earnings per share of $0.52 Financial Updated guidance to reflect two discrete legacy systems events Midpoint of module revenue and gross margin guidance remains unchanged Q2 2022 production of 2.2 GW Operational Q2 2022 shipments of 2.5 GW Year-to-date boo
Slide 11: © 2022 Copyright First Solar, Inc.
© 2022 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