Slide 1: First Solar Q3'24 Earnings Call
First Solar Q3’24 Earnings Call October 29, 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: Third Quarter 2024 Update
| Third Quarter 2024 Update Year to date net bookings of 4.0 GW; 0.4 GW of net bookings since previous earning call Demand Total bookings backlog of 73.3 GW extending through 2030 Total bookings opportunities of 81.4 GW; 23.5 GW mid-to-late stage Production(1): S6 2.3 GW / S7 1.5 GW Manufact
Slide 4: Sustainability Report: 2023 Highlights
| Sustainability Report: 2023 Highlights © 2024 Copyright First Solar, Inc. 4
Slide 5: Select IP Challenges
China Active claims | Select IP Challenges Other US Settled claims FSLR Pursuing (to date) TOPCon (US) TOPCon (US) TOPCon (US) TOPCon (US) TOPCon (US) PERC (EU) TOPCon PERC (EU) PERC (EU) (EU) PERC (EU) TOPCon (US) © 2024 Copyright First Solar, Inc. Shingled (EU) PERC (EU) xBC (EU) First Solar Adani
Slide 6: Expected Module Volume Sold (GWDC)
| Expected Module Volume Sold (GWDC): 78.3 GW 9.0 GW 85.0 3.5 GW 72.8 GW 0.5 GW 73.3 GW 80.0 75.0 70.0 65.0 60.0 55.0 50.0 45.0 40.0 35.0 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 September 30, 2024 (4) QTD Net-Bookings October 29, 2024 (6) Septembe
Slide 7: Potential Booking Opportunities
| Potential Booking Opportunities Total bookings opportunities Mid-to-Late stage opportunities 1.10.7 0.3 5.4 2.3 74.2 20.9 © 2024 Copyright First Solar, Inc. 3.9 GW of opportunities confirmed, but not booked 81.4 GW Opportunity 23.5 GW Opportunity 7
Slide 8: Income Statement Highlights
| Income Statement Highlights (In millions, except per share amounts)(1) Q3 2024A Q2 2024A Q3 2023A QoQ Change YoY Change Net sales $888 $1,010 $801 $(122) $87 Gross profit % 50.2% 49.4% 47.0% 0.8% 3.2% Selling, general and administrative 46 47 50 (1) (4) Research and development 50 52 41 (2) 9 Prod
Slide 9: Balance Sheet Highlights
| Balance Sheet Highlights Q3 2024A (In millions)(1) Q3 2024A Q2 2024A Q3 2023A QoQ Change YoY Change Cash and marketable securities(2) $1,286 $1,754 $1,840 $(468) $(554) Accounts receivable 762 648 754 114 8 Inventories - current and noncurrent 1,520 1,302 1,144 218 376 Property, plant and equipmen
Slide 10: 2024 Guidance as of October 29, 2024
| 2024 Guidance as of October 29, 2024 (1) Prior Current Net Sales $4.4B to $4.6B $4.10B to $4.25B Gross Margin ($)(2) $2.0B to $2.1B $1.95B to $2.00B Operating Expenses(3) $455M to $485M $445M to $475M Operating Income(4) $1.5B to $1.6B $1.48B to $1.54B Earnings Per Diluted Share $13.00 to $14.00 $
Slide 11: Summary and Highlights
| Summary and Highlights Year to date net bookings of 4.0 GW; 0.4 GW of net bookings since previous earning call Demand Current contracted backlog of 73.3 GW Opportunity pipeline of 81.4 GW, including 23.5 GW mid-to-late stage Inaugurated the Alabama Facility in Q3 2024 and Louisiana expansi
Slide 12: © 2024 Copyright First Solar, Inc.
© 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, 12 Series 6 CuRe, and the Series 6 CuRe logo are trademarks of First