Slide 1: First Solar Q3'22 Earnings Call
First Solar Q3’22 Earnings Call October 27, 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: Third Quarter 2022 Update
| Third Quarter 2022 Update Bookings, Year to date bookings of 43.7 GW; 16.6 GW since previous earnings call Production, Q3 2022 production of approximately 2.4 GW Shipments Q3 2022 shipments of approximately 2.8 GW Manufacturing 112% fleet-wide capacity utilization; 114% when adjusted for p
Slide 4: Manufacturing and R&D expansion
| Manufacturing and R&D expansion Recent Investment 25.0 Year-End Nameplate Manufacturing Capacity (GW) August 30, 2022 21.0 21.7 20.5 • $200m to upgrade Ohio 3.3 3.3 20.0 manufacturing capacity by 3.3 0.9 GW 15.6 • $1 billion for new 3.5 GW 15.0 6.7 7.0 3.0 6.6 greenfield plant, to be located in lo
Slide 5: Expected Module Shipments (GWDC)
| Expected Module Shipments (GWDC): 58.1 GW 9.9 GW 33.8 GW 21.4 GW (7.0) GW Dec 31, 2021 YTD Shipments as of YTD Net-Bookings as of QTD Net-Bookings October 27, 2022(4) September 30, 2022(1) September 30, 2022(2) Q4 2022(3) The above table presents the actual module shipments for 2022 through Septem
Slide 6: Q3 Potential Booking Opportunities
| Q3 Potential Booking Opportunities Total Booking Opportunities Mid-to-Late Stage Booking Opportunities 0.8 8.4 3.3 5.7 4.0 19.2 80.3 62.5 © 2022 Copyright First Solar, Inc. 2.3 GWDC of opportunities confirmed, but not booked 113.6 GWDC Opportunity 70.6 GWDC Opportunity 6
Slide 7: Income Statement Highlights
| Income Statement Highlights (In millions, except per share amounts) (1) Q3 2022A Q2 2022A Q3 2021A QoQ Change YoY Change Net sales $629 $621 $584 $8 $45 Gross profit (loss) % 3.3% (3.7%) 21.4% 7.0% (18.1%) Selling, general and administrative 46 39 43 7 3 Research and development 29 25 25 4 4 Produ
Slide 8: Balance Sheet Highlights
| Balance Sheet Highlights (In millions) (1) Q3 2022A Q2 2022A Q3 2021A QoQ Change YoY Change Cash and marketable securities(2) $1,937 $1,853 $1,940 84 (3) Accounts receivable(3) 361 490 273 (129) 88 Inventories - current and noncurrent 1,050 1,049 884 1 166 Property, plant and equipment, net 3,124
Slide 9: 2022 Guidance as of October 27, 2022
| 2022 Guidance as of October 27, 2022 Prior Current Net Sales $2.55B to $2.8B $2.6B to $2.7B Gross Profit (1,2) $115M to $165M $75M to $110M Operating Expenses(3) $350M to $365M $345M to $360M Operating Income(2,4,5) $5M to $70M $(30)M to $20M Earnings (Loss) Per Share $(0.25) to $0.25 $(0.65) to $
Slide 10: Summary & Highlights
| Summary & Highlights Q3 2022 loss per share of 46 cents Financial Reduce FY 2022 earnings guidance primarily to reflect unforeseen logistics costs Year-end 2022 net-cash guidance midpoint raised by $400 million Q3 2022 production of 2.4 GW, and shipments of 2.8 GW Operational Previously
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