© Copyright 2013, First Solar, Inc.

Arizona’s Energy Future August 21, 2014

© Copyright 2014, First Solar, Inc.

First Solar Overview

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First Solar at a Glance

Driving innovation across entire value chain and plant solution

Cost competitive with conventional energy sources today

Partner of choice for leading utilities and global power buyers

Over 8GW installed worldwide and over 3GW contracted pipeline

Founded in 1999 and publicly traded on Nasdaq (FSLR)

Strongest financial stability & bankability in the industry

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8GW+ Global Installations

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First Solar's Integrated Solar Power Solutions

Clean, Affordable, Sustainable Utility-Scale PV

Module Manufacturing

Project Development

Engineering,Procurement,Construction

Operations &Maintenance

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Partnering with Leading Global Power Buyers

Track record of delivering to leading utilities and energy investors

We are very proud to be working with First Solar, who has a reputation for the delivery of world class renewable energy projects internationally.

Michael Librizzi, General Manager Midwest for WBHO Civil

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Coal NuclearU.S. (NG) Japan (LNG)

U.S. (NG)

Gas Peaking EU (NG)

Japan (LNG) India

Diesel Australia EU

First Solar $0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

Cost Competitive with Conventional Energy Sources Today

Sources: Coal and Nuclear: Bloomberg New Energy Finance LCOE Update: Q2 2013; Gas Combined Cycle, Gas Peaking, and Diesel: Lazard LCOE Sensitivity Analysis June 2013; First Solar: Internal data. (a) Does not include cost of carbon capture. (b) NG = natural gas. LNG = liquefied natural gas. Data assumes natural gas prices of $10 in Northern Europe and $18 in Japan (all in US$ per MMBTU). (c) Assumes diesel prices of $3.00 for India, $4.30 for Australia, and $7.00 for Northern Europe (all in US$ per gallon). Diesel assumes a high end capacity factor of 30% representing intermittent utilization and low end capacity factor of 95% representing base load utilization, O&M cost of $15 per KW/year, heat rate of 10,000 BTU/KWh and total capital costs of $500-$800 per KW of capacity.

a b b cGas Combined Cycle

© Copyright 2014, First Solar, Inc.

Solar in Arizona

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site: Gila Bend, AZ

size: 17 MW

owner: Arizona Public Service, AZ Sun Program

PALOMA SOLAR

Utility-Owned Generation in the Southwest

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site: Yuma County, AZ, USA

size: 290MW

owners: NRG Energy andMidAmerican Solar

AGUA CALIENTE

Reliable bulk power generation utilizing advanced plant controls and forecasting