Slide 1: First Solar Q2'21 Earnings Call
First Solar Q2’21 Earnings Call July 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: Second Quarter 2021 Highlights
| Second Quarter 2021 Highlights ● Manufacturing ■ Started site preparation for previously announced 3.3 GW factory in Ohio ■ Announced additional 3.3 GW capacity expansion in India; contingent upon permitting and approval of government incentives that are satisfactory to First Solar ■ Factories are
Slide 4: Module Segment Update
| Module Segment Update Have been permitted and able to maintain manufacturing operations in Malaysia and Vietnam to-date COVID-19 Update The rise in COVID-19 cases and potential government and other restrictions present ongoing risk to our production, supply chain, and technology implementation
Slide 5: Expected Module Shipments (GWDC)
| Expected Module Shipments(1) (GWDC): Systems + Third-Party Module 17.1 GW 2.0 GW 11.8 GW 6.9 GW (3.6) GW(2) Dec 31, 2020 YTD Shipments as of YTD Net-Bookings as QTD Net-Bookings Jul 29, 2021(5) Jun 30, 2021 of Jun 30, 2021(3) Q3’21(4) The above table presents the actual module shipments for 2021 t
Slide 6: Potential Booking Opportunities: By Geography
| Potential Booking Opportunities: By Geography Total bookings opportunities Mid-to-Late stage opportunities 0.8 0.3 0.3 0.8 1.0 1.0 7.4 0.3 17.3 6.8 © 2021 Copyright First Solar, Inc. 0.4 GWDC of opportunities confirmed, but not booked 26.8 GWDC Opportunity 9.2 GWDC Opportunity 6
Slide 7: Capacity Expansion Expectations
| Capacity Expansion Expectations United States (Ohio) India (Tamil Nadu)(1) Production Start First half of 2023 By year end 2023 Capacity 3.0 GW by year end 2023 | 3.3 GW in 2025 3.0 GW by year end 2024 | 3.3 GW in 2025 ‘23 Production 2 GW to 3 GW in total between Ohio 3 and India Capex / C
Slide 8: Quarterly Income Statement Highlights
| Quarterly Income Statement Highlights (In millions, except per share amounts)(1) Q2 2021A Q1 2021A Q2 2020A QoQ Change YoY Change Net sales $629 $803 $642 ($174) ($13) Gross profit % 27.7% 23.0% 21.4% 4.7% 6.3% Selling, general and administrative 36 52 52 (16) (15) Research and development 24 20 2
Slide 9: Quarterly Balance Sheet Highlights
| Quarterly Balance Sheet Highlights (In millions)(1) Q2 2021A Q1 2021A Q2 2020A QoQ Change YoY Change Cash and marketable securities(2) $2,052 $1,797 $1,642 255 410 Accounts receivable(3) 598 817 352 (219) 246 Inventories (current and noncurrent) 830 755 703 74 127 Property, plant and equipment, ne
Slide 10: 2021 Guidance as of July 29, 2021
| 2021 Guidance as of July 29, 2021 Prior Current Net Sales $2.85B to $3.025B $2.875B to $3.1B Gross Margin ($)(1) $695M to $775M $695M to $760M Operating Expenses(2) $285M to $300M Unchanged Operating Income(3,4) $545M to $640M $545M to $625M Earnings Per Share $4.05 to $4.75 $4.00 to $4.60 Net Cas
Slide 11: Summary & Highlights
| Summary & Highlights Year-to-date diluted EPS of $2.73 per share Financial Q2’21 net cash(1) of $1.8 billion 2021 EPS guidance of $4.00 to $4.60 per share Started site preparation for previously announced 3.3 GW factory in Ohio Announced additional 3.3 GW capacity expansion in India; con
Slide 12: © 2021 Copyright First Solar, Inc.
© 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