Desafios no Mercado CLAUDIO LOUREIRO

Company Overview Headquarters  Beijing, China Date est. / IPO  May 2005 / February 2007 (NASDAQ: JASO) 8.5 GW solar module Capacity in 2018  7 GW solar cell 5 GW silicon wafer  2014: 3.1 GW  2016: 5.2GW Shipments  2015: 4.0 GW  2017: 7.6GW Employees  14,492 as of March 2018 Industry Leader Solid Finance Business  Optimized Vertically Integrated Model Highlights  Global Market Coverage and Diversified Customer Base Advanced Innovation High conversion efficiency Products Advantages  High reliability High yield efficiency

Advanced Innovation Global leader of PV cell technologies through innovation and invention The first company in the world started mass producing and commercializing selective emitter, MWT, and PERC structured PV cells The first company in the world applied double-printing technology to all cell manufacturing lines Industry front runner of PV module performance based on proprietary technical approaches The efficiency of independent innovation main products-Cypress 5 cell is 0.4% higher than the industry average. The conversion efficiency of PERCIUM mono cell is 1.3% higher than the industry main products. The conversion efficiency of RIECIUM mono cell is 0.6% higher than the industry main products.

Product Advantages – High Reliability 100% in-house automatic module manufacturing to guarantee product quality and performance Manufacturing Process, Quality, and Facility Certified by TÜV SÜD, CTF and ETL, and Third- Parties Agencies Including PI-Berlin and Solar-IF Long-term Reliability Tests Mechanical load test 5400Pa to 10000Pa (about 2×IEC standard) HAST test DH1000 （85℃ and 85% RH) to 121℃ 3 times atmospheric pressure and 100%RH Thresher test (about 3×IEC standard)  Environment Endurance Tests Ammonia Resistance Test Salt Mist Spray Test, S02 Resistance Test, Dust and Sand Test Hot-Dry Climate, Damp-Heat Climate, and Plateau Climate Conditions

Product Advantages – High Reliability 100% Mass-production of PID-resistant Cell and Double 85 Anti-PID 96 hours test standard for All Modules PID: Potential Induced Degradation Excellent Quality Management System and Product Quality Assurance 1

Product Advantages – High Yield Efficiency Outstanding Low-light Performance The modules are classified into three current category Current class—H (high) Current class—M (middle) Current class—L (low)

After Sale Service Product Warranty Additional Insurance Options 12-year warranty on materials and workmanship 25-year linear power warranty（>80%） Additional Insurance Options

Industry Leader Cell Module ——more than 27GW cumulative shipments by the end of 2017 Q4 Shipments(MW） Shipment Ratio (%) 8000 7628 358 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 7000 6000 5167 Cell 5000 314 3991 4000 265 3058 7270 3000 2072 651 4853 1695 1702 2000 1463 Module 3726 898 763 1210 2407 1000 1246 939 1174 277 509 217 485 2008 2009 2010 2011 2012 Module 2013 Cell 2014 2015 2016 2017 2009 2010 2011 2012 2013 2014 2015 2016 2017

Global Leading Bankable Module Brand 2017 Top Bankable Module Brands by BNEF survey Rank PV Module Manufacturer 'Bankable' 'Never Heard' 'Not Bankable' 1 Canadian Solar 100% 0% 2 First Solar 3 JA Solar 4 Jinko Solar 5 Kyocera 6 SunPower 7 Trina 8 LG Electronics 94% 6% 9 Panasonic 10 Solar Frontier 11 Hanwha Q CELLS 12 REC Group 88% 13 Hyundai Heavy 81% 13% 14 Sharp 75% 19% 15 Renesola 25% 16 Talesun 69% 17 ET Solar 63% 18 Suntech 56% 38% Source: BNEF

Solid Finance for Future Growth ——Altman-Z scores of solar companies pure players First Solar, 3.18 Longi, 2.36 JA Solar, DAQO, 1.44 1.60 Jinko, 1.22 CSIQ, 0.70 Hareon, REC Silicon, -0.04 -4.35 Eging, 2.34 HQCL, 1.29 GCL Poly, 0.58 GCL System, 1.48 S-Energy, 0.90 SunPower, -0.19 Yingli, Asia Americas Europe -3.80 Source: “BNEF：Q1 2018 Global PV Market Outlook” 16

Optimized Vertically Integrated Polysilicon Silicon Wafer 5 GW Cell 7 GW Module 8.5 GW System

State-of-The-Art Production Facilities Ningjin Cell and Module Facility Hebei Province Cell: 2500 MW Module: 600 MW Baotou Facility Inner Mongolia Zhangjiakou module Facility Hebei Province Under the construction Under the construction Xingtai Module Facility Hebei Province 1900 MW Headquarters in Beijing Fengxian Module Facility Shanghai City 1900 MW Lab partnership with TÜV and Intertek Yangzhou Cell and R&D Facility Jiangsu Province Office in Shanghai 3300 MW JA Malaysia Cell Facility 1200MW Lianyungang Wafer Facility Jiangsu Province 2500 MW Hefei Module Facility Anhui Province 4100 MW Yanjiao Wafer Facility Hebei Province 2000 MW JA Vietnam Wafer Facility 500MW

Global Market Coverage ——A global sales network over 100 countries External shipments by region (% of total MW shipped) 2016 Europe Others 1% North 5% Americas 9% South America 10% China 53% APAC 22% 2017 Others 3% Europe 7.8% North America 14.9% South America 0.3% China 48.4% APAC 45.6%

Diversified Customer Base – 80 MWp in DG @ Brazil 14

Selected Projects 15 Ituverava 260MW Project Bahia, Brazil 260 MW Largest Solar Installation in Israel, Arava Desert and Negev Desert, Israel 35 MW 30MW Project in Japan Tomakomai, Japan 30 MW India 115 MW project in Telangana Telangana, India 115 MW 15

Challenges #1/2/3... FINANCE! - better interest rates OTHERS: EDUCATION - knowledgeable workforce TECHNOLOGY - What is coming is not what is available PRICING - think CAPEX

Harvest the Sunshine Premium Cells, Premium Modules Thank you ! May 4, 2018