Established in 2005, ET Solar Group has emerged as a global one-stop solar solution provider. Our business is divided into manufacturing and solar system solutions. Our leading technology, coupled with high-quality products and services, enables ET Solar to offer cost efficient turn-key system solutions and services to specialized PV investors.

1. ET Solar, Inc.
Company Introduction 2014

2. Safe Harbor Statement
This presentation has been prepared by ET Solar Group. (the “Company”)
solely to facilitate the understanding of the Company’s business model and
growth strategy. The information contained in this presentation has not been
independently verified. No representation, warranty or undertaking, express
or implied, is made as to, and no reliance should be placed on, the fairness,
accuracy, completeness or correctness of the information or the opinions
contained herein. None of the Company or any of its affiliates, advisers or
representatives will be liable (in negligence or otherwise) for any loss
howsoever arising from any use of this presentation or its contents or
otherwise arising in connection with the presentation.

3. CONTENTS
 Part 1 About ET
 Part 2 ET Business
 Part 3 Why ET
 Part 4 ET Performance

4. ABOUT ET – Leading Complete Solar Power Solutions Provider
3,000 staff
700 customers $700 million annual revenue
3 GW global installation
Established in 2005, ET Solar Group has emerged as a global one-stop solar solution
provider. Our business is divided into manufacturing and solar system solutions. Our
leading technology, coupled with high-quality products and services, enables ET Solar to
offer cost efficient turn-key system solutions and services to specialized PV investors.
Top 500 Private enterprise of China 2012
Top 100 most influenced enterprise in clean energy industry
Top 500 global clean energy enterprise 2011
8% of revenue invested in R&D

5. ABOUT ET - Our History & Milestones
2012
2013
2013.04 ET solutions project reference over 300MW
2013.03 Global PV module installation reached 2GW
2012.11 ET Solar Japan branch established in Tokyo
2012.07 Listed as global tier 1 PV manufacturer by Bloomberg
2012.04 US$ 238 million credit facility received from Bank of Communications
2012
2011
2011.12 ET module capacity reached 1GW
2011.10 US$ 1.27 billion credit facility received from CITIC Bank
2011.03 ET PV module shipment reached 1GW
2009-2010
2010.10 Subsidiary ET Solutions s.r.l established in Italy
2010.07 Green Equity established in Luxemburg
2009.04 Subsidiary ET Solar Energy Limited founded in Taizhou, China
2008.08 Subsidiary ET Solutions AG founded in Germany
2008.05 Get US$ 50 million private equity fund
2007.03 Subsidiary ET Solar Inc. founded in California, USA
2007-2008
2005-2006
2006.12 ET Solar brand established, renamed of ET Solar Industry Ltd.
2005.05 ET Solar first module production line commenced
2005.01 Predecessor of the company CNS founded

6. ABOUT ET - RPS Philosophy
ET Solar is an innovation-based and customer-focused company, with a deep understanding
that value and quality guide our decision-making.
CUSTOMERS
AT THE
FOREFRONT
Safety
Adaptability
Performance
RELIABILITY Profitable
Transparent
Bankable
PROFITABILITY
Innovative
Leadership
Stewardship
SUSTAINABILITY

7. ABOUT ET - Global Presence
New Jersey , US
Rotterdam , Netherlands Felxtion , UK
Vercelli , Italy
Taizhou , China
California , US
Global network & local service

8. ET Solar - US Facilities
 ET USA Headquarters Office - San Francisco, CA
 East Coast Office – Branchburg, NJ
 Service – San Francisco, CA
 Warehouses
 Fremont, California
 Long Beach, California
 Aiea, Hawaii
 Oahu, Hawaii
 Branchburg, New Jersey

9. Complete Product Suite for all Applications
P648 module
(48 poly cells)
AC module
(micro-inverter built-in)
Residential BIPVUtility scaleCommercial Customized
Anti-glare
(texturized glass surface)
M660 module
(60 mono cells
EU only)
Binary star
(dual-junction box)
P660 module
(60 poly cells)
Transparent module
(transparent backsheet)
Double glass
module
Anti-Salt
spray
Off- grid

10. PHOTON Laboratory - 2013 Results
 ET modules generate more revenue grade power per first-cost investment ($/W) than 151 modules reported!
 Mono
 Top (new) - Sopray Energy, SR-190 @ 94.0% - not sold in the US, 190 W platform uncommon.
 Second - Risen Energy, SYP190S @ 93.8% - not sold in the US, 190 W platform uncommon.
 Third - ET Solar, ET-M660WW @ 93.4% - 60-cell, 250 W, common platform, available world-wide
 Poly
 Excluding availability & platform/application, ET Solar ET-P660WW reached 92.2% and ranked #2!
 #1 had 1% more PR (more expensive, limited capacity)

11. ET Solar Generates More Power
• Comparisons between
– Data Sheets (ALL)
– PAN Files where available (ET, Astronergy)
– Photon Lab Data (2013)
ET Solar Trina Yingli Canadian Solar Astronergy Jinko
Performance Warranty (Specification Sheet)
Performance Warranty (% 25 years) 81.4% 80.7% 80.7% 80.0% 80.0% 80.0%
% Savings -0.9% -0.9% -1.7% -1.7% -1.7%
Performance
Module Eff % (Data Sheet) 15.4% 15% 15.3% 15.5% 15.2% 15.3%
% Savings/Loss -2.6% -0.6% 0.6% -1.3% -0.6%
Annual Energy Harvest (PV Syst, kWh/kW) 1867 1818 1823 1808 1822 1831
% Savings/Loss -2.6% -2.4% -3.2% -2.4% -1.9%
Annual Energy Harvest (Photon Lab, kWh/kW) 1074 1047 1039 1078
% Savings/Loss -2.5% -3.2% 0.4%
n/a n/a

12. ET Solar Generates More Revenue Grade Power
• 1 MW, Los Angeles, 250 W Modules
• 3%/Yr Electricity rate escalator
• 0.5%/Yr Degradation
• PV Syst generated data (PAN Files & Data Sheets)
Performance Inputs ET Solar Trina Yingli Canadian Solar Astronergy Jinko
Annual Output for Year 1 (kWh)
Degradation Factor
System lifetime (Years), PPA Term
Retail rate ($/kWh)
Rate Escalator
1,867,000 1,818,000 1,823,000 1,808,000 1,822,000 1,831,000
0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
25.00 25.00 25.00 25.00 25.00 25.00
$0.15 $0.15 $0.15 $0.15 $0.15 $0.15
3% 3% 3% 3% 3% 3%
Revenue
% Savings/Loss
$ Savings/Loss
$/W Savings/Loss
$9,547,319 $9,296,747 $9,322,315 $9,245,609 $9,317,201 $9,363,225
-2.6% -2.4% -3.2% -2.4% -1.9%
-$250,572 -$225,004 -$301,710 -$230,117 -$184,094
-$0.25 -$0.23 -$0.30 -$0.23 -$0.18

13. WHY ET – Solutions & Services
Complete
Solutions
Top Quality
Manufacturing
Leading
PV Industry
focus
across the chain and
for continuous
expansion of EPC
segment
Cost-efficient turn-key system solutions & services to partners
and specialized PV investors

14. WHY ET – Total transparency on quality, our commitment
2012 quality check points increased
from 173 to 379 since 2008
100% Visual check 100% Electrical test 100% EoL test
Outdoor test by
Quality management Factory audit Third party test
Certification

15. WHY ET – HIGHLY BANKABLE
ET Solar modules are also bankable at many other leading banks
And the list is growing …
Global Tier 1 PV company rated by

16. ET PERFORMANCE
Financial Growth 2010-2012
Shipments 2008-2013E
Unit: Mln USD
Unit: MW

17. ET PERFORMANCE - References
• May 2011
• Size: 3.3 MWp
Chignolo PO, Italy
• June 2012
• Size: 5 MWp
• Financing bank: Saar LB
Tirepied, France Carbuniesti I&II, Gorj, Romania
• To be commissioned June 2013
• Size: 20 MWp
• December 2012
• Size: 7.5 MWp
Port Allen, Kauai, USA
• Europe
• North America
• December 2012
• Size: 2.3 MWp
Denver, CO, USA
• Asia
• December 2012
• Size: 1.2 MWp
North East Victoria, Australia
• December 2012
• Size: 15 MWp
Anhui, China
Rätzlingen, Germany
• June 2012
• Size: 11.2 MWp
• Financing bank: Deutsche Kreditbank
More references at www.etsolar.com

18. Reference Project
Installer: FLS Energy
Location: North Carolina, USA
System size: 21 MWp
System Type: Utility
“We very much enjoy our cooperation with ET Solar that provides high quality
products, excellent service, and strong technical expertise …with such a
trusted business partner, we are very confident with continuing to expand our
business strongly in the region.”
Chris Dunbar, Vice President and COO of FLS Energy.

19. Reference Project
Installer: Strata Solar
Location: North Carolina, USA
System size: 23 MWp
System Type: Utility
“ET Solar is providing these Strata projects with quality product and excellent
value, ” “We selected ET Solar for their competitive price and high-efficiency
solar modules. Moreover, we benefit from ET Solar's outstanding customer
services where for example their New Jersey office gives immediate feedback
to our questions.”
Markus Wilhelm, CEO Strata Solar.

20. Reference Project
Project: Harvard Business School
Installer: Solect Energy
Location: Boston, MA
System size: 320 modules, 80kW
System Type: Commercial Rooftop
“The project’s complexity included a multi-tiered roof with many mechanical units and
attachments resulting in shading on various parts of the arrays throughout the day.
The AC solar panel solution was an ideal fit to deliver maximum system production
and efficiency.”
Scott Howe, Partner, Solect Energy

21. Reference Project
Installer: NextEnergySolar
Location: Bay Area, CA
Module Manufacturer: ETSolar
System Size: 60 modules
System Type: Ground
System Size: 15kW
Serves 70% of customer’s electricity
needs
“We are all looking for a product with easier installation, reliability, and higher
performance. This AC module with a full 25 year replacement warranty is a selling driver.
ET is on the cutting edge at the right price. After installing the ET660250BAC module my
company is seeing a profit and my customers are smiling too”, Randy Kauffman, CEO
NextEnergy

22. Reference Project
Installer: Solar Energy Solutions
Location: Wisconsin Rapids, WI
Module Manufacturer: ETSolar
System Size: 27 modules, 6.75kW
System Type: Residential Roof
"The end-customer is extremely pleased with performance so far. And with subzero
temperatures we saw an AC performance high of 6,203.30 kW which is 92% of our
installed DC capacity, even with a terrible sun angle this time of year.“
Brandon Magsam, Co-Founder of SES Solar

23. › 2012 by Samuel Engineering
› 2.3MW with 7600 300W PV modules
› ET-P672 solar modules
› Samuel Engineering financed and
owns the project.
› Dave Thorn/ Project Manager
› 303.567.7623 (P)
› dthorn@samuelengineering.com
Colorado, USA
Reference Project

24. › 2011
› 17.49 rooftop system
› ET-P660230 solar modules
Woodbine, NJ
› 2011 Brite Idea Energy
› 238.28KW rooftop system
› ET-P660230 solar modules
› Jennifer Washburn
› 866-524-8556
› Jenniferw@briteideaenergy.com
Ocean City, NJ
Reference Project

25. › Dec 2011
› 245.1KW rooftop system
› ET-P660230 solar modules
Millville, NJ
Newark, NJ
› 2009 by ALM
› 910 KW rooftop and canopy system
› ET-P672280 solar modules
› Pat J. Ruccio /President
› 973-402-2211
› Pruccio@almelect.com
Reference Project

26. › 2012 by Turning Mill Energy
› 661KW ground mount + Canopy system
› ET-P660245 solar modules
› Tony Johnson/Vice President
› 508-888-4383 (O)
› tjohnson@turningmillenergy.com
› Bank Reference:
› Andrew F. Eldridge /Senior Vice President
and Commercial Lending Officer
› Phone: 508.568.1218
› aeldridge@mycapecodbank.com
Cape Cod, MA
Reference Project

27. › 2011
› 409KW rooftop system
› ET-P672280 solar modules
Harlysville, PA
› 2011 by Tecta Solar
› 510KW rooftop system
› ET-P672275 solar modules
› Jay Levin/Director of Operation
› 267-337-6595
› jlevin@tectaamerica.com
Lansdale PA
Reference Project

28. Reference Project
› 2012 by Solect
› 1MW ground mount system
› ET-P672290 solar modules
› Kenneth Driscoll/President
› 508-598-3511 (O)
› kdriscoll@solectenergydev.com
Southborough, MA
› 2012
› 475 kW rooftop system
› ET-P660235 solar modules
Northborough, MA

29. › 2012 by JKB Energy
› 1MW and 0.7MW, total 1.7MW
system
› ET-P672 solar modules
› Financed by American Agricultural
Credit http://www.agloan.com/
› Jayson Moser / VP of Design and
Procurement
› jayson@jkbenergy.com
› 209.668.5303 office
California
Reference Project

30. Thank You!

31. ET Solar – US Organization Structure