Copyright 2016, First Solar, Inc.

Forward-Looking Statements During the course of this presentation the Company will make projections and other statements that are forward-looking statements within the meaning of the federal securities laws. The forward-looking statements in this presentation are based on current information and expectations, are subject to uncertainties and changes in circumstances, and do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially from those statements, including the risks as described in the Company s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this presentation or with respect to the announcements described herein. 2 Copyright 2016 First Solar, Inc.

2015 Highlights Technology, Manufacturing & Operations: Record Cell Efficiency of 21.5% (Announced Feb 2015) Record Module Efficiency of 18.6%* (Announced Jun 2015) Full Fleet Average Efficiency Improved to 15.6%, a 160 basis point improvement Full Fleet Module Cost per Watt Decrease of >15% Installed 1.8GWs of Modules Bookings/Pipeline Record Bookings of 3.4GW dc & Record Shipments of 2.9GW dc Achieved Book-to-Bill Ratio of ~1.2 (vs 1.0 target) Financial Record Revenue of $3.6 billion Earnings per fully diluted share of $5.37 Ending Cash of $1.8 billion Launch of 8point3 Energy Partners * 18.6% aperture area efficiency. 18.2% full area conversion efficiency. 4 Copyright 2016 First Solar, Inc.

World Record CdTe Solar Cell: 22.1% 22.1% Cell Efficiency The record-setting cell was constructed using materials and processes found in the manufacturing environment at our Perrysburg, Ohio factory. Results certified at Newport TAC Lab Documented in the U.S. Department of Energy s NREL Best Research Cell Efficiencies 5 Copyright 2016 First Solar, Inc.

Expected Module Shipments (1) (GW DC ): Systems + Third-party Module 5.0 GW 4.0 GW 3.7 GW 3.4 GW.2 GW 4.4 GW 3.0 GW 2.0 GW 1.0 GW.0 GW 2.9 GW (2) Dec 31, 2014 2015 Shipments 2015 Bookings Q1'16 QTD Bookings Feb 23, 2016 (3) The above table presents the actual module shipments for 2015 through Dec 31, 2015, new module volume bookings through Feb 23, 2016, and the expected module shipments beyond Dec 31, 2015. A module is considered to be shipped when it leaves one of our manufacturing plants. Expected module shipments do not have a direct correlation to expected revenues as expected module shipments do not represent total systems revenues and do not consider the timing of when all revenue recognition criteria are met including timing of module installation. (1) Expected Module Shipments includes systems projects and contracted 3 rd party module-only and module plus sales. Systems projects include (a) contracted/sold (b) with PPA but not yet sold and (c) no PPA and not yet sold, but electricity to be sold on an open contract basis. (2) Reflects bookings from Jan 1, 2016 to Feb 23, 2016. (3) Balance includes remaining shipment volumes as of Dec 31, 2015 and bookings through Feb 23, 2016. Shipments from Jan 1 to Feb 23, 2016 not deducted. 6 Copyright 2016 First Solar, Inc.

Expected Revenue (1) : Systems + Third-party Module $10.0 B $7.3 B $3.5 B $7.0 B $5.0 B $3.8 B $0.0 B (2) (3) Dec 31, 2014 2015 Net Sales 2015 & YTD 2016 Bookings Feb 23, 2016 (1) Expected Revenue includes revenue projections from both systems projects and contracted 3 rd -party module-only & module plus sales. Systems projects include (a) contracted/sold (b) with PPA but not yet sold and (c) no PPA & not yet sold, but electricity to be sold on an open contract basis. Expected Revenue from projects not yet sold/contracted and with no PPA and not yet sold are based on internal projected selling prices. Excludes O&M & electricity sales revenue. (2) Net Sales through Dec 31, 2015 and a $0.3B reduction for projects contributed to 8point3 where remaining revenue will not be recognized. (3) Reflects 2015 additions and year-to-date 2016 additions through Feb 23, 2016. (4) The Feb 23, 2016 balance includes (i) $1.7B of expected remaining revenues from contracted/sold projects including revenues from projects under construction to the extent that the revenue has not been recognized under GAAP as of Dec 31, 2015 and (ii) expected revenues from contracted 3 rd -party module-only and module plus sales, systems projects which have PPAs,but are not yet sold/contracted and systems projects with no PPA and not yet sold, but electricity to be sold on an open contract basis as of Feb 23, 2016. Excludes O&M and electricity sales. Excludes impact of potential adjustments for future YieldCo dropdowns. (4) 7 Copyright 2016 First Solar, Inc.

Copyright 2016 First Solar, Inc. Analyst Day, April 5th Agenda Strategic Priorities Update Technology & Operations Update Business Outlook Q&A with executive management team Location: New York City Public webcast available at investor.firstsolar.com 10

Copyright 2016 First Solar, Inc. Q4 15 & 2015 Operations Overview Metric Q4 15 Q4 15 vs Q3 15 Q4 15 vs Q4 14 2015 2015 vs 2014 Production (MW DC ) 761 16% 50% 2,518 Capacity Utilization 100% 6 pts 16 pts 92% Conversion Efficiency (Fleet Average) 16.1% 30 bps 170 bps 15.6% 36% 11 pts 160 bps Conversion Efficiency (Best Line) 16.4% Unchanged 160 bps 12

Copyright 2016 First Solar, Inc. P&L Summary Key Income Statement Data Q4 15 Q/Q Y/Y 2015 Y/Y (in millions, except gross profit % and net income per share data) (Unaudited) Net sales $942-26% -7% $3,579 6% Gross profit % 24.6% (13.5 ppt) (6.2 ppt) 25.7% 1.4 ppt Research and development $37 24% 5% $131-9% Selling, general and administrative $63 17% -11% $255 1% Production start-up $0-100% -100% $17 229% Operating income $132 ($266) ($67) $517 $95 Income tax benefit ($15) ($64) ($26) ($6) ($37) Net income $164 ($185) ($50) $546 $150 Share count Diluted 102.3 0% 1% 101.8 0% Net income per share Diluted $1.60 ($1.81) ($0.30) $5.37 $1.47 13

Copyright 2016 First Solar, Inc. Key Balance Sheet and Cash Flow Data Q4 15 Q3 15 Q4 14 Q/Q Y/Y ($ in millions) (Unaudited) Assets & Liabilities Cash and marketable securities $1,830 $1,810 $1,991 $20 ($161) Accounts receivable, trade $501 $329 $135 $172 $366 Accounts receivable, unbilled and retainage $59 $241 $77 ($182) ($18) Inventories $380 $379 $505 $1 ($125) Balance of systems parts $137 $104 $125 $33 $12 Project assets and deferred project costs current and noncurrent $1,299 $1,128 $840 $171 $459 Restricted cash current and noncurrent $80 $103 $125 ($23) ($45) Investments in unconsolidated affiliates and joint ventures $400 $299 $255 $101 $145 Long-term debt current and noncurrent $289 $285 $213 $4 $76 Cash Flow Net cash provided by operating activities $53 $21 $928 $32 ($875) Free cash flow (1) $20 ($17) $858 $37 ($838) (1) Refer to the back of this presentation for reconciliation of Operating Cash Flow to Free Cash Flow. 14

Copyright 2016 First Solar, Inc. 2016 Guidance Update as of February 23, 2016 2016 Guidance Prior Current Net Sales $3.9B to $4.1B $3.8B to $4.0B Gross Margin (%) 16% to 18% 17% to 18% Operating Expenses $380M to $400M Unchanged Operating Income $260M to $330M Unchanged Effective Tax rate 16% to 18% Unchanged Earnings Per Share (1) $4.00 to $4.50 Unchanged Net Cash Balance (2) $2.0B to $2.3B $1.9B to $2.2B Operating Cash Flow (3) $500M to $700M $400M to $600M Capital Expenditures $300M to $400M Unchanged Shipments 2.9GW to 3.0GW Unchanged (1) Includes a gain of approximately $200 million, net of tax, from the expected sale of an equity method investment and share of 8point3 earnings (2) Cash and marketable securities less expected debt at the end of 2016 (3) Does not include approximately $450 million from the expected sale of an equity method investment treated as an investing cash flow 15

Copyright 2015 First Solar, Inc. Financial Results Record 2015 Net Sales of $3.6B and Q4 Net Sales of $942M 2015 EPS of $5.37 and Q4 EPS of $1.60. Maintain 2016 EPS Guidance to $4.00 to $4.50 Technology and Operation Roadmap New record cell efficiency of 22.1% Q4 full fleet average efficiency of 16.1% vs 15.8% in Q3 15 Lead line efficiency at 16.4% in Q4 15 Pipeline Additions Record 2015 Bookings of 3.4GW dc. Over 160MW booked year-to-date 2016 Potential Booking Opportunities increased to 20.3GW dc 16 Q4 15 Results Summary

Key Quarterly Financial Data Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 ($ in millions, except gross profit % and net income (loss) per share data) (Unaudited) Q4'15 Q/Q Q4'15 Y/Y Net sales $ 1,007.9 $ 469.2 $ 896.2 $ 1,271.2 $ 942.3-26% -7% Gross profit % 30.8% 8.3% 18.4% 38.1% 24.6% (13.5 ppt) (6.2 ppt) Research and development 34.9 34.8 29.5 29.6 36.7 24% 5% Selling, general and administrative 70.9 67.7 70.9 53.7 62.9 17% -11% Production start-up 3.2 6.7 7.0 3.2 - -100% -100% Operating income (loss) 199.2 (70.1) 57.1 397.8 131.8 $ (266.0) $ (67.4) Income tax expense (benefit) 10.5 (6.0) (33.3) 48.5 (15.3) $ (63.8) $ (25.8) Net income (loss) $ 214.4 $ (60.9) $ 93.9 $ 349.3 $ 164.1 $ (185.2) $ (50.3) Share count - Diluted 101.5 100.4 101.6 102.3 102.3 0% 1% Net income (loss) per share - Diluted $ 1.90 $ (0.61) $ 0.92 $ 3.41 $ 1.60 $ (1.81) $ (0.30) Share-based compensation expense $ 11.7 $ 12.1 $ 8.9 $ 12.2 $ 11.8-3% 1% Capital expenditures 73.3 55.3 38.8 45.2 27.2-40% -63% Cash, cash equivalents, and marketable securities $ 1,991.1 $ 1,484.6 $ 1,775.2 $ 1,809.5 $ 1,830.3 1% -8% Supplemental Data Net cash provided by (used in) operating activities $ 928.0 $ (417.9) $ (17.1) $ 21.0 $ 53.1 $ 32.1 $ (874.9) + Excess tax benefits from share-based compensation arrangements 3.3 7.7 8.6 7.0 (5.6) $ (12.6) $ (8.9) - Purchases of property, plant and equipment (73.3) (55.3) (38.8) (45.2) (27.2) $ 18.0 $ 46.1 = Free cash flow ** $ 858.0 $ (465.5) $ (47.3) $ (17.2) $ 20.3 $ 37.5 $ (837.7) MW Produced 509.0 540.3 562.8 653.8 761.2 16% 50% Average conversion efficiency 14.4% 14.7% 15.4% 15.8% 16.1% 30 bps 170bps ** Total amounts may not foot due to rounding 18

Copyright 2016 First Solar, Inc. Use of Non-GAAP Financial Measure Free Cash Flow This presentation includes information regarding Free Cash Flow, which is a financial measure not prepared in accordance with U.S. generally accepted accounting principles (GAAP). Free Cash Flow is defined as Net Cash Provided by (Used in) Operating Activities plus Excess tax benefits from share-based compensation arrangements minus Capital expenditures (purchases of property, plant and equipment). The Company uses Free Cash Flow to evaluate its businesses, and this measure is considered an important indicator of the Company s liquidity and ability to pursue opportunities to enhance shareholder value, including its ability to reduce debt and make strategic investments. A general limitation of a Free Cash Flow measure is that it is not prepared in accordance with GAAP and thus may not be comparable to similarly titled measures of other companies due to differences in methods of calculation and excluded items. Actual Data $M Years Ended* Quarters Ended 2013 2014 2015 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Net cash provided by (used in) operating activities 856.2 681.0 (360.9) 66.5 222.4 375.1 192.2 (318.2) 118.4 (47.2) 928.0 (417.9) (17.1) 21.0 53.1 + Excess tax benefits from share-based compensation arrangements 35.1 31.2 17.7 24.9 30.8 (21.7) 1.1 11.7 4.5 11.7 3.3 7.7 8.6 7.0 (5.6) - Purchases of property, plant and equipment (282.6) (257.5) (166.4) (71.7) (85.2) (69.5) (56.2) (50.8) (62.4) (71.0) (73.3) (55.3) (38.8) (45.2) (27.2) = Free cash flow 608.7 454.6 (509.6) 19.7 167.9 283.9 137.1 (357.3) 60.5 (106.6) 858.0 (465.5) (47.3) (17.2) 20.3 *Year ended data may not sum due to rounding 19