Breakthrough PV System for Commercial Rooftops

March 2009

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• $1.5 billion of customer contracts • Internal equipment design & mfg enables

rapid ramp• Commercial shipments July 08 start• Ramping Fab 1: 110MW• Launching Fab 2: 500 MWp (U.S. DOE)

Reliable & Robust Product Design

Reliable & Reliable & Robust Robust Product Product DesignDesign

Execution Confidence & Commercial Operation

Execution Execution Confidence & Confidence & Commercial Commercial OperationOperation

Experienced Management Team

Experienced Experienced Management Management TeamTeam

• Fortune 500 leadership • Global high-tech, thin-film

manufacturing track record

PV Systems Optimized for Commercial Roofs

PV Systems PV Systems Optimized for Optimized for Commercial Commercial RoofsRoofs

• Proprietary cylindrical module design• High electricity output per rooftop• Fast, easy, low-cost installation• Light-weight, no roof penetrations• Low cost per kilowatt hour

• Warranty: 5Yr. product / 25Yr. performance• Truly hermetic, watertight CIGS package• UL and IEC certified (GSE Approved, Italy)• Independent energy yield models for project

financing• Substantial positive field performance and

accelerated lifetime results

Solyndra, Inc.We manufacture photovoltaic systems for the commercial rooftop market

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Management TeamProven Ability to Execute

Dr. Chris GronetFounder, Chief Executive Officer

• VP Applied Materials: grew $1.2B thermal processing business in <6 yrs• Founder, G-Squared Semiconductor (RTP, sold to Applied Materials)• Pioneered new PV concepts at SERA Solar (1980-84)

Bill StoverChief Financial Officer

• CFO Micron Technology, global semiconductor memory manufacturer• >20 years finance and operational experience in capital intensive, high volume, low

cost, international semiconductor processing, assembly and test

Dr. Kelly TrumanVP Marketing, Sales & Bus. Dev.

• VP Marketing, ReVera, semiconductor metrology start-up• Applied Materials: GM wafer clean business, Marketing Man. Dir. for thermal

processing • >20 years semi & thin film development, marketing & general management

Ben BiermanVP Global Operations

• VP, Coherent Technologies, Laser Systems • Applied Materials: Deputy GM Thermal Systems, Man. Dir. Engineering• Lam Research: Managing Director, Supply Chain & Supplier Quality Engineering • > 20 years thin film engineering, operations and manufacturing

Design + Manufacturing of Semi Equipment

Dr. Raman AchutharamanVP Front End Process Technology

Chris LaneVP Production Equipment

Dan MarohlVP Front End Engineering

Leadership Team: Public Company Management and Execution

High-Volume, Low-Cost Manufacturing

Pat O’BrienVP Manufacturing Operations

Dr. Erik WestreVP Quality and Reliability

Dr. Chris SpindtVP Integration

Administrative

John ScottVP Business Development

Ben SchwartzActing General Counsel

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LESKO\Ratings Agency Pres\S and P\03 Presentation to Solyndra.ppt

Conventional Photovoltaic System

Higher Solar Electricity Output Per Rooftop at Lower Cost of Electricity

5

Cylindrical Module Enhances Light Collection

• Direct light: samecross-section at all angles

• Diffuse light: enhanced collection from all angles

• Reflected light: from the roof

High energy yield in horizontal orientation

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Collection of Sunlight Reflected from Roof

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Solyndra ProductCylindrical Modules in Panel, with Mounts Included

Panel: 40 cylindrical modules in frameProduct: Panel + mounts

Cylindrical thin film cells in glass modules

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Solyndra PV Array High Energy Density (per Total Rooftop Area)

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Customer Installation: Utah, USA

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Customer Installation: California, USA

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Simple, Low Cost InstallationNo Rooftop Attachments or Ballast Required Up to 208 km/h

Conventional PV

Solyndra

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LESKO\Ratings Agency Pres\S and P\03 Presentation to Solyndra.ppt

Packaged System: Panel & Simple Mounting Hardware

• Non-penetrating and self-ballasted • Up to 3x faster installation• Up to 2x lower installation cost

vs.

Solyndra Conventional PVPenetrating Non/Minimally-Penetrating

or

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LESKO\Ratings Agency Pres\S and P\03 Presentation to Solyndra.ppt

Fast, Easy, Economic Installation

Connect Mounting Hardware Easy Panel Transport

Install ClipPlace, Plug In DC Connectors and Ground Strap

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Benefits of Tubular Package

• 1.5X concentration–Optical coupling agent between

tubes acts as a lens to concentrate light from any direction

–Less PV material required; reduces manufacturing cost

• Hermetic Seal –Watertight package isolates CIGS

thin film materials from moisture–Eliminates major issue for CIGS

and ensures long-term stability

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Additional Benefits of Cylindrical Modules & Panel Structure

•Minimal building orientation impact on kWh production–Only ~1% less energy if 45 deg

from N-S tube orientation–No impact on rooftop coverage

•Further increases to kWh production–Panels run cooler due to convective

cooling–Less impact of soiling: ~ ½ that of

conventional panels

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Large Market: Commercial Rooftops

• >3 billion m2 of flat commercial rooftop area for PV in US alone: 150 GWp

• >100 million m2 of reflective “cool roofs” installed annually in US: 5 GWp/yr

• Distributed generation

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Channels & Customers$1.5B in Announced Contracts + Other Sales

•PV Integrators–Lower installation cost–More revenue per installation–Less time per installation: higher

throughput & lower overhead

•Roofing Companies–Lower cost when roof is installed at the

same time as PV–Synergistic: reflected light enhances PV

generation, PV makes Cool Roof “cooler”–Solyndra PV simple for roofers to install

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Commitment to Reliability and Quality• Solyndra products are certified to IEC61646 / 61730 requirements (Europe)

and UL 1703 requirements (North America).• All European shipped products have the CE Mark.

Certification Status

Complete191Complete182Complete173Complete165Complete157Complete150

UL 1703CEC ListingIEC 61730IEC 61646IEC 61730-2CE MarkFire Class C

Power Rating(Watts/Panel)

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Independently Validated Energy Yield Forecasting

>20 international sitesCalifornia, Florida, Arizona, Pennsylvania,

Indiana, Maryland, Utah, New Jersey,Germany, France, Singapore, Spain

Theory

Experience

Bankable Energy Forecasts For

Project Financing

3 Independent Engineering Firms w/ Expert Energy Models

30 Yr. Weather Data

Roof Aging Studies

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Capacity Expansion: Fab 1Fremont, California

• Ramping to 110 MWp per year• 300,000 ft2 complex, >500 employees• Products UL & IEC certified 5-08• Commercial shipments started 7-08

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Capacity Expansion: Fab 2Fremont, California

• 500 MWp per year• 30 acre site• Groundbreaking 2009

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Highly Automated Factory

• Rapid replication

• Higher yields

• Extensive in-line testing & data tracking

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Investors >$600M equity raised to date from outstanding investors to fund our growth & ramp

Argonaut Private Equity

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March 20, 2009 Solyndra Offered $535 Million Loan Guarantee by the U.S. Department of Energy Fremont, CA,– Solyndra, Inc. announced today that it is the first company to receive an offer for a U.S. Department of Energy (DOE) loan guarantee under Title XVII of the Energy Policy Act of 2005. Solyndra, a Fremont, California-based manufacturer of innovative cylindrical photovoltaic systems, will use the proceeds of a $535 million loan from the U.S. Treasury’s Federal Financing Bank to expand its solar panel manufacturing capacity in California.

$535M DOE Loan Guarantee For Fab 2

•Access to Growth Capital •Accelerated Manufacturing Scale •Validation of Product Quality

Solyndra at the White House

Washington Post, 3/24/09

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Solyndra Delivers…A System Optimized for Commercial RooftopsA System Optimized for Commercial RooftopsA System Optimized for Commercial Rooftops

• Higher annual electricity output per rooftop• Higher annual electricity output per rooftop

• Fast, easy, economic installation • Fast, easy, economic installation

• Light-weight & non-penetrating system • Light-weight & non-penetrating system

• Bankable kWh production• Bankable kWh production

• Low total system cost and COE• Low total system cost and COE