Third Quarter 2012 Review and Update December 11, 2012

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Financial Highlights of 3Q 2012 Categories Third Quarter 2012 Shipments (MW) 239.5 (+3.8%) q/q Revenue (US$ mil) 153.7 (-9.9%) q/q Gross Margin (%) -5.8% NON-GAAP Earnings per Basic ADS 1 ($0.57) GAAP Earnings per Basic ADS ($0.61) Note: All non-GAAP numbers exclude the accounting impact from the adoption of ASC 815-40, which relates to the accounting treatment for the convertible bonds. Non-GAAP financial results for prior quarters have been adjusted for comparability with the current quarter. Peter Thank you for the time and your interest in Hanwha SolarOne. Let me begin with some of the investment highlights for the Company… (bullet points on the slide)

Financial Trends Gareth Our quarterly module shipment has increased significantly over the last 4 quarters. We are guiding 130-140MW for Q1 (17-26% increase from Q4), of which about 30% (vs. 6.3% last quarter) will be from our module processing business, which has a higher gross margin Revenue reached $183.5MM in Q4. We did not give guidance on Q1 revenue, but we expect ASP to decline ~5% on constant currency, so you should be able to get to our Q1 revenue number For gross margin, you can see that our current level is higher than what we had back in 2007-2008 during the boom time. We expect GM to remain at similar level (high teens) in Q1. You should also note that our module processing business, which has a higher gross margin, will contribute more to our Q1 results Note: 3Q11 and 4Q11 exclude non-cash provisions All non-GAAP numbers exclude the accounting impact from the adoption of ASC 815-40, which relates to the accounting treatment for the convertible bonds. Non-GAAP financial results for prior quarters have been adjusted for comparability with the current quarter. 4

Geographic distribution Module Revenue by Shipping Destination Geographic distribution 3Q 2012 Germany is the largest (39%) but fell significantly due to July 1 incentive reductions Asia Pacific region continued to grow and accounted for 22% of total shipments US growth regained momentum to 13% of total shipments Peter Quality of our customers – significant players in our industry Doubling of customers in Q4 to 40 Diversification of customers; hence it is important to build our team We believe we are different from our competitors since half of our products are customized to the needs of our customers. These products lead to higher margins and require a longer lead time to quality Residential alone still represents approximately 60% of the total market Germany is an important market, but that is where we invoice our clients, about 50% of those modules are installed outside of Germany 5

Cost Structure Gareth COGS per watt: we have discussed this in detail just now Opex: we have been doing better than our peers in previous quarters. For Q4, opex as % revenue went up as we expanded our team to better prepare ourselves in growing our business in the new markets. We expect this to come down to 7-8% in Q1 and 6-7% for full year 2010. Interest expense per watt: has come down significantly, at $0.03 per watt level in Q4 Notes: 1 Excluding module processing business and non-cash provisions totaling $0.45 in 4Q11 On Non-GAAP basis which excludes the impact related to the convertible bond fair value adjustment 4Q11 operating expenses includes $8.5 million provision for advanced payment associated with long-term supply contract ; 2Q11 operating expenses includes $5 million for management severance. 6

Balance Sheet Total Cash of US $256 million Net debt to equity of 89.3% Gareth Notes: Excludes restricted cash. All non-GAAP numbers exclude the accounting impact from the adoption of ASC 815-40, which relates to the accounting treatment for the convertible bonds. Non-GAAP financial results for prior quarters have been adjusted for comparability with the current quarter. 7

Recent Milestones New president and chief technology officer appointed QoQ shipment growth Continued Non-Poly processing cost reduction Shipments to China and US gaining momentum Peter Quality of our customers – significant players in our industry Doubling of customers in Q4 to 40 Diversification of customers; hence it is important to build our team We believe we are different from our competitors since half of our products are customized to the needs of our customers. These products lead to higher margins and require a longer lead time to quality Residential alone still represents approximately 60% of the total market Germany is an important market, but that is where we invoice our clients, about 50% of those modules are installed outside of Germany Synergies with Hanwha Q.CELLS begin 8

Signs of Industry Rationalization A number of company failures reduce manufacturing capacity Chinese banks tightening credit standards squeezing out marginal players Signs that leading competitors will take a more rational approach to pricing and sacrifice volume for profitability Momentum developing in important new growth markets, particularly China and Japan Peter Quality of our customers – significant players in our industry Doubling of customers in Q4 to 40 Diversification of customers; hence it is important to build our team We believe we are different from our competitors since half of our products are customized to the needs of our customers. These products lead to higher margins and require a longer lead time to quality Residential alone still represents approximately 60% of the total market Germany is an important market, but that is where we invoice our clients, about 50% of those modules are installed outside of Germany 9

Q.CELLS Acquisition Provides Synergies Enhanced scale with combined capacity of 2.3GW Strong brand, high quality products and excellent technology Potential to price at a premium Improved leverage with suppliers Peter Quality of our customers – significant players in our industry Doubling of customers in Q4 to 40 Diversification of customers; hence it is important to build our team We believe we are different from our competitors since half of our products are customized to the needs of our customers. These products lead to higher margins and require a longer lead time to quality Residential alone still represents approximately 60% of the total market Germany is an important market, but that is where we invoice our clients, about 50% of those modules are installed outside of Germany Expertise in downstream activities and an important source of cells in the face of duties in the US and maybe Europe 10

Three Paths to Growth Volume Based Growth Value Based Growth Targeting the utility industry for higher sales volume Economies of scale leading to better bargaining power & cost competitiveness Value Based Growth Traditional PV products are quickly becoming low-cost commodities. We will achieve growth by selling higher value products to residential and commercial markets with a strong brand. Downstream Growth Create value downstream by bundling balance of system components, reach customers through a variety of channels and expand our project development, EPC and O&M business.

R&D for high quality/high performance Development Item Description New Product launching New product (E-Star plus) will be launched in 2013 - Light weight, high endurance, maximized efficiency - Cost competitiveness via increased power output per module Anti PID Anti PID product will be launched in 2013 - Completed TUV certificate - Develop optimized BOM for Anti PID module for long-term reliability Extreme Environment Anti-salt module : Sales of modules suitable for sea shore started - Supplied to Japan. Total of 80MW will be supplied to Marubeni project Desert module : Under development for Middle East market Higher Efficiency High efficiency wafer (Better wafer) development Increase module output by wafer sorting improvement

New Market Potential Market could reach 8GW in 2013 HSOL sets conservative shipment target of 150MW in 2013 China Market Japan Market Estimated market size of over 3GW in 2013 HSOL estimates shipments at 100MW+ in 2013 Signed 155MW deal for 1H 2013 delivery The company’s and South Africa’s largest solar deal to date South Africa Market USA Market Estimated market size of 4GW in 2013 2013 HSOL estimated shipments can more than triple to 250MW or higher.

Market Guidance FY 2012 825~850MW <$0.50W $100 million Shipments Non-poly Processing Cost by yr.-end <$0.50W $100 million Gareth capacity expansion (150MW of additional module capacity to 700MW by April, 4 new cell lines brining our cell capacity up to 480MW in July) we are confident of our business and have revised our 2010E shipment upwards to 600MW (from 500MW previously). We expect 130-140MW for Q1 about 30% of our Q1 shipment will be from our module processing business. For 2010 full year, it will be 20-30% Our capex for the year will be around $95 million Capital Expenditure 14

Thank You