© Copyright 2011, First Solar, Inc.

Jim BrownPresident, Head of Global Sales

Solar PVA Critical Component of KSA’s Energy Solution

2

© C

opyr

ight

201

1, F

irst S

olar

, Inc

.

• Formed in 1999 and launched production in 2002– NASDAQ listed. $5bn market cap today– Shipment of 5 GWs to date

• Premiere PV Energy Solutions Provider– A partner to Energy Buyer through shared focus on energy

value – World-class capabilities in module manufacturing, project

development, EPC, O&M, and project financeSolutions that span the value chain of a solar power plant

• Lowest cost PV manufacturer in the world– Broke $1/watt barrier in Q4 2008– $0.74/watt as of Q3 2011

• Largest thin-film module manufacturer in the world

• Proprietary technology and environmental leadership

First Solar Overview

First Solar 290 MW Agua Caliente project, Arizona

Place most recent Agua photo here

3

© C

opyr

ight

201

1, F

irst S

olar

, Inc

.

PV Solar is cheaper today than oil-fired electricity at market prices of oil.

Natural Gas ($0.75/MMBtu)

Natural Gas ($4/MMBtu)

Crude Oil ($2.65/bbl)

Crude Oil ($60/bbl)

Crude Oil ($100/bbl)

Diesel OCGT ($5/bbl)

Diesel OCGT ($80/bbl)

Diesel Gen-Set ($5/bbl)

Diesel Gen-Set ($80/bbl)

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

Source: FS analysis. * At utility-scale level In Saudi Arabia

Subsidized electricity price Non-subsidized electricity priceEach column ranges from 10-80% capacity usage of power plant

TODAYFS can achieve this electricity

price* = ~$0.12-0.15/kWh

$/kWh Electricity Price Ranges by Fuel Type2010 Fossil Fuel Subsidies: $410 Billion2010 Renewable Subsidies: $60 Billion

4

© C

opyr

ight

201

1, F

irst S

olar

, Inc

.

Snapshot of solar PV at 10 GW in 2020

Crude Oil, HFO & Diesel Natural Gas Solar PV

Diesel HFO Crude Oil Natural Gas

Source: FS analysis, ECRA, SEC, IEA. Note: Daily load/output is modeled as hourly average per 24-hour period. * Based on comparison with oil-fired power plant at heat rate of 10,000 BTU/kWh.

Winter Summer

2009 Annual Generation Profile

2020 Annual Generation Profile

Today’s Energy profile in Saudi: Over 65% of electricity generated from oil-burning power plants

Solar Guarantee in Saudi Arabia: For every sunny day, 10 GW of solar will

displace over 100,000 bbls of oil per day or over 40 million bbls of oil per year. `

Fast fwd to 2020

Energy demand soars

How much oil will Saudi be burning?

5

© C

opyr

ight

201

1, F

irst S

olar

, Inc

.

Consequences of Burning Oil for Electricity

6

© C

opyr

ight

201

1, F

irst S

olar

, Inc

.

Coordinated deployment of a diverse solar portfolio adds energy and reinforces the transmission grid

Large-scale (>100 MW) PV plants should be proximate to transmission infrastructure

Smaller (<50 MW) PV plants can provide grid support by being co-located with loads and substations

PV-diesel hybrids and other off-grid / small-grid PV applications can cost-effectively satisfy medium and small loads

Representative Portfolio of Solar Assets

7

© C

opyr

ight

201

1, F

irst S

olar

, Inc

.

• Cost competitive today

• Fastest path to new utility-scale electricity

• Enables realization of the full potential of Saudi Arabia’s oil

• Strategic deployment of solar improves transmission

• Immediate and high value job impact

• Optimized energy structure which will fuel economic growth

Final Thoughts on Solar Opportunity