Presentation at the US-Saudi Business Opportunities Forum (Dec 5-7, 2011, Atlanta, GA). Jim Brown, President, Global Sales First Solar, presented at the panel titled, "Nuclear and Renewable Energy: Building Resources for the Future." His presentation was called "Solar PV: A Critical Component of KSA’s Energy Sollution.

1. Solar PV
A Critical Component of KSA’s Energy Solution
Jim Brown
President, Head of Global Sales
© Copyright 2011, First Solar, Inc.

2. First Solar Overview
• Formed in 1999 and launched production in 2002
– NASDAQ listed. $5bn market cap today
– Shipment of 5 GWs to date
Place most recent Agua
• Premiere PV Energy Solutions Provider
photo here
– A partner to Energy Buyer through shared focus on energy
value
– World-class capabilities in module manufacturing, project
development, EPC, O&M, and project finance
Solutions that span the value chain of a solar power plant
First Solar 290 MW Agua Caliente project, Arizona
• Lowest cost PV manufacturer in the world
© Copyright 2011, First Solar, Inc.
– 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
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3. PV Solar is cheaper today than oil-fired electricity at market prices of oil.
$/kWh Electricity Price Ranges by Fuel Type
2010 Fossil Fuel Subsidies: $410 Billion
$0.60  Subsidized electricity price 2010 Renewable Subsidies: $60 Billion
 Non-subsidized electricity price
Each column ranges from 10-80% capacity usage of
$0.50 power plant
TODAY
$0.40
FS can achieve this electricity
price* = ~$0.12-0.15/kWh
$0.30
$0.20
© Copyright 2011, First Solar, Inc.
$0.10
$0.00
Natural Gas Natural Gas Crude Oil Crude Oil Crude Oil Diesel OCGT Diesel OCGT Diesel Gen-Set Diesel Gen-Set
($0.75/MMBtu) ($4/MMBtu) ($2.65/bbl) ($60/bbl) ($100/bbl) ($5/bbl) ($80/bbl) ($5/bbl) ($80/bbl)
Source: FS analysis. * At utility-scale level In Saudi Arabia
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4. Snapshot of solar PV at 10 GW in 2020
2009 Annual Generation Profile
 Diesel
 HFO
 Crude Oil Today’s Energy profile in Saudi: Over 65% of
 Natural Gas electricity generated from oil-burning power
plants
Fast fwd to 2020
Energy demand soars
2020 Annual Generation Profile
How much oil will
 Crude Oil, HFO & Diesel Saudi be burning?
 Natural Gas
 Solar PV
© Copyright 2011, First Solar, Inc.
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. `
Source: FS analysis, ECRA, SEC, IEA. Note: Daily load/output is modeled
Winter Summer as hourly average per 24-hour period. * Based on comparison with
oil-fired power plant at heat rate of 10,000 BTU/kWh. 4

5. Consequences of Burning Oil for Electricity
© Copyright 2011, First Solar, Inc.
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6. Coordinated deployment of a diverse solar portfolio adds energy and
reinforces the transmission grid
Representative Portfolio of Solar Assets
PV-diesel hybrids and other off-grid / small-grid PV
applications can cost-effectively satisfy medium and
small loads
Smaller (<50 MW) PV plants can provide grid support
by being co-located with loads and substations
© Copyright 2011, First Solar, Inc.
Large-scale (>100 MW) PV plants should be
proximate to transmission infrastructure
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7. Final Thoughts on Solar Opportunity
• 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
© Copyright 2011, First Solar, Inc.
• Immediate and high value job impact
• Optimized energy structure which will fuel
economic growth
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