SunSpec Alliance Members Meeting February 12, 2013 Solar Frontier Update

Solar Frontier 1  World’s largest CIS thin-film panel manufacturer with systems services  100% subsidiary of Showa Shell Sekiyu  30+ years legacy in PV  980MW production capacity in Japan  600MW+ supplied worldwide  ~1,500 employees

Parent Company Profile 2 Billion Yen Change Revenue2,3462,771 (+18%) Operating Profit (+ 64%) EBIT (+ 56%) Net Income (+ 45%) Showa Shell Sekiyu K.K. Core Businesses: Oil & Solar Year of Establishment: 1985 (Amalgamation of Showa Oil Co., Ltd. & Shell Sekiyu K.K.) Stock Exchange: TYO:5002 Financial Ratings: A- (R&I), A+ (JCR) Employees: 1,007

3 Showa Shell Sekiyu K.K. CIS Solar Business ●Production and sales of CIS photovoltaic modules Power Business ●Retails and wholesale of electric power Other businesses ●Home security services ●House cleaning services Oil Business Non-oil Business 510,000bbl/day

History 4 R&D crystalline-Si amorphous-Si CIS 2005 Commitment to CIS production 1993 Start CIS research funded by NEDO 2004 Showa Shell Solar established 2006 Shell Solar Japan established 2007 Commercial production in Miyazaki Plant Production at 2 nd plant begins; Atsugi R&D Cent e r open s 2011 Launched world’s largest CIS plant 1GW Scale Technical partnership with Arco Solar 1983 Started c-Si production 1986 Launched Showa Arco Solar JV with Arco Solar 1990 Showa Arco Solar renamed Showa Solar Energy Showa Shell starts PV R&D 1987 Co-founded JPEA Shell Solar acquired Siemens Solar 2010 New Global Name Solar Frontier 1974 Oil crisis sparks joint solar project with Japanese government 2003

Regional Sales Channels 5 Global Sales Profile Sales to date600 MW+ Large Supply Agreement Triple-digit (Germany) Largest Project Agreement 150MW (USA) Americas Solar Frontier Americas Inc Freedom Circle Santa Clara, CA USA Europe Solar Frontier Europe GmBH Bavariafilmplatz 8, Grunwald bei Munchen, Germany Middle East Solar Frontier K.K. Scientific & Technical Office Eastern Cement Tower #306 King Fahd Road Al Khobar Saudi Arabia Asia Solar Frontier K.K. Daiba Frontier Building Daiba, Minato-ku, Tokyo Japan

Key Technology Advantages 6 Solar Frontier’s unique CIS thin-film technology offers the following benefits: 1.Outperforms Other Panels  Efficiency boost after light exposure  Strong in high-temperatures and low-light  Average 5% higher performance 2.Superior Reliability  100% Made in Japan  Highly automated production  Highest quality materials  No microcracks or cell solder joints 3.Most Environmentally-friendly  Energy Payback Time 0.69 years, 16.8gCO 2 /kWh  Lead & cadmium free  Reusable packaging

Highest Thin-Film Conversion Efficiency 7 30cm x 30cm sub-module © Solar Frontier K.K. World Record

Highest Conversion Efficiency Today 8 © Solar Frontier K.K. Tokyo, January 8, 2013 － Solar Frontier, in joint research with Japan’s New Energy and Industrial Technology Development Organization (NEDO), has achieved a world record-breaking energy conversion efficiency of 19.7% for cadmium-free, thin-film solar cells measuring approx. 0.5 cm2, as measured by the National Institute of Advanced Industrial Science and Technology (AIST). It has been ten years since the previous record of 18.6% was set. This world record was achieved using cells cut from a 30cm x 30cm substrate, rather than specifically-developed small area cells, demonstrating high potential for further increases. 19.7%

R&D and MF Achievement in 4 years 9© Solar Frontier K.K.

CIS: 5% more kWh per rated capacity 10© Solar Frontier K.K. CONFIDENTIAL CIS c-Si CdTe

Softbank Field Tests 11© Solar Frontier K.K. Credit Suisse: “This data shows that the panels made by Showa Shell Sekiyu subsidiary Solar Frontier performed best in 10 of 12 monthly test cases.”

Product Development Roadmap 80 1,000 1,500 3 rd Plant 900MW 150W 13.3% AA Module eff. 12.2% GEN2 GEN1 GEN3 Total Prod. Capacity (MW) AA-Efficiency (%) AA=Aperture Area nd Plant 60MW 1 st Plant 20MW 92.5W 13.0% AA Module eff. 11.6% GEN1:Existing technology based upon selenization, CIGSS absorber, Cd-Free GEN2: Large substrate, High quality CIGSS crystals with Voc and FF improvement 160W 14.2% AA Module eff. 13.0% GEN Now Future GEN3: Innovative crystal growth. Refined module and circuit design. Optical tuning 170W 15.0% AA Module eff. 13.9% Applied 16.3% AA 17% AA Lab Technology Applied 4 th plant GEN2 Tech GEN3 Tech On 30cm x 30cm module Achieved Product Development Roadmap 12 RAC _02 Unrestricted

Corporate Presentation | October 2011 Contact: Ravi Menon Manager – Engineering & Business Development (408) © Solar Frontier K.K.