Slide 1: First Solar Q1'23 Earnings Call
First Solar Q1’23 Earnings Call April 27, 2023
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: First Quarter 2023 Update
| First Quarter 2023 Update ▪ Year to date bookings of 12.1 GW; 4.8 GW since previous earnings call Demand ▪ Total bookings backlog of 71.6 GW extending through 2029 ▪ Total bookings opportunities of 113 GW; 73 GW mid-to-late stage ▪ 2.36 GW produced Series 6 (1) ▪ 475 watt top bin, 467 watt average
Slide 4: Facilities Update
| Facilities Update India Ohio Expected Expansion 2H 2023 Expected 2024 Alabama R&D Expected Facility 2024 / 2025 Expected © 2023 Copyright First Solar, Inc. 2024 4
Slide 5: Expected Module Volume Sold (GWDC)
| Expected Module Volume Sold (GWDC): 85.0 80.0 [6.7] GW 75.0 70.0 9.9 GW 9.9 GW 69.4 GW 2.2 GW 71.6 GW 65.0 61.4 GW 1.9 GW 60.0 48.3 GW 55.0 50.0 45.0 40.0 35.0 (9.3) GW 30.0 25.0 20.0 15.0 10.0 5.0 - Dec 31, 2022 (1) YTD Volume Sold as of YTD Net Bookings as of Mar 31, 2023 (4) QTD Net-Bookings Ap
Slide 6: Potential Booking Opportunities
| Potential Booking Opportunities Total bookings opportunities Mid-to-Late stage opportunities 0.3 5.6 5.2 2.7 4.0 18.9 83.0 65.6 © 2023 Copyright First Solar, Inc. 4.7 GWDC of opportunities confirmed, but not booked 112.7 GWDC Opportunity 72.6 GWDC Opportunity 6
Slide 7: World Record CadTel Research Cell with CuRe Technology
| World Record CadTel Research Cell with CuRe Technology Improvements Record Cell Attributes1 √ CuRe Technology √ Efficiency √ Temperature Coefficient √ Year 1 Degradation √ Long Term Degradation © 2023 Copyright First Solar, Inc. Estimated up to 6% lifetime energy2 22.3% improvement over previous r
Slide 8: Income Statement Highlights
| Income Statement Highlights (In millions, except per share amounts)(1) Q1 2023A Q4 2022A Q1 2022A QoQ Change YoY Change Net sales $548 $1,002 $367 ($454) $181 Gross profit % 20.4% 6.0% 3.1% 14.4% 17.3% Selling, general and administrative 44 43 37 1 7 Research and development 31 31 27 (1) 3 Product
Slide 9: Balance Sheet Highlights
| Balance Sheet Highlights (In millions)(1) Q1 2023A Q4 2022A Q1 2022A QoQ Change YoY Change Cash and marketable securities(2) $2,287 $2,590 $1,558 (303) 729 Accounts receivable(3) 325 355 322 (30) 3 Inventories - current and noncurrent 1,005 882 1,079 123 (74) Property, plant and equipment, net 3,8
Slide 10: 2023 Guidance as of April 27, 2023
| 2023 Guidance as of April 27, 2023 (1) Prior Current Net Sales $3.4B to $3.6B Unchanged Gross Margin ($)(2) $1.2B to $1.3B Unchanged Operating Expenses(3) $415M to $440M Unchanged Operating Income(4) $745M to $870M Unchanged Earnings Per Share $7.00 to $8.00 Unchanged Net Cash Balance(5) $1.2B to
Slide 11: Summary and Highlights
| Summary and Highlights ▪ Year to date bookings of 12.1 GW Demand ▪ Total contracted backlog of 71.6 GW extending through 2029 ▪ Record Q1 production of 2.5 GW, including 170 MW of new Series 7 technology Manufacturing & ▪ India, Ohio expansion, Alabama, and R&D facility construction on schedule Te
Slide 12: Copyright and trademarks
© 2023 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