Segen Training November 2017

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Martin Terry
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1 Segen Training November 2017

Company Overview A leading Chinese solar cell and module manufacturer Headquarters Date est.

end of 2017 3 GW silicon wafer by end of 2017 2016: 5.2GW 2017: 6.0 6.

2 Company Overview A leading Chinese solar cell and module manufacturer Headquarters Date est. / IPO Shanghai, China May 2005 / February 2007 (NASDAQ: JASO) Business Highlights First-tier c-si module brand Successful transformation into a major solar module producer World class quality with industry leading conversion efficiency Bankable brand with 15 GW of products shipped Annual Capacity Shipments Products Employees 6 GW solar module by end of GW solar cell by end of GW silicon wafer by end of : 5.2GW 2017: GW High efficiency mono-crystalline and multi-crystalline cells and modules. Average conversion efficiency of CYPRESS2 cells in mass production: Monocrystalline: 19.9% PERC Mono: 21% Multicrystalline: 18.6% 15,000 as of March

Sales Point Tier 1A BNEF s Bankability Survey Results 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% First Solar Hanwha SolarOne JA Solar Trina Solar Yingli Hanwha Q-Cells Jinko Solar Canadian Solar

3 Sales Point Tier 1A BNEF s Bankability Survey Results 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% First Solar Hanwha SolarOne JA Solar Trina Solar Yingli Hanwha Q-Cells Jinko Solar Canadian Solar Panasonic Renesola SunPower 100% 93% 93% 93% 93% 87% 87% 80% 80% 80% 80% 7% 7% 7% 7% 13% 13% 20% 20% 20% 20% REC Solar 80% 7% 13% Sharp 73% 27% Solar Frontier 73% 7% 20% Mitsubishi 67% 33% Kyocera 67% 20% 13% Source: Bankable Not Bankable Never Heard PV Module Bankability : who to trust Bloomberg New Energy Finance PV Tech Top 5 solar module Manufacturers 2016 Source: PV TECH based on final shipment guidance from third quarter financial results. (1) 2

4 Sales Point Tier 1A EUPD TOP BRAND Mark Solar Module Super League (SMSL) Group of big-six c-si Module suppliers. Canadian, Hanwha, JA Solar, Jinko, Trina + Longji (mono silicon manufacturer ) + GCL the world's largest solar poly crystalline silicon manufacturer, 3

Sales Point Tier 1A JA Solar has offices in global PV bases (China, Germany, Japan, Australia, USA) and has a strong footprint in all major PV market markets.

5 Sales Point Tier 1A JA Solar has offices in global PV bases (China, Germany, Japan, Australia, USA) and has a strong footprint in all major PV market markets. JA Solar has a leading Position in the major markets such as China (Top 3 supplier), Japan (Top 3 Supplier), Australia (#1 Supplier), LATAM (Top 3 supplier), EU (Top 3 Supplier). UK (Top 3 Supplier ) JA Solar Module Shipment Global Distribution 2015 Chinese PV Modules Shipped to Europe Jan-Oct 2016 Americas, 3 % EU, 11% Other, 3% China, 43% JA Solar 8.1% APAC, 40% Source: Bloomberg New Energy Finance (1) 4

6 Stringent Quality Leader Thresher Test 5

7 Financial Security Liquidity Ratio Debt Ratio Source: Q2 Financial reports 6

8 JA Production Ningjin Cell and Module Facility Hebei Province Cell: 2500 MW Module: 600 MW Zhangjiakou module Facility Hebei Province Under the construction Yanjiao Wafer Facility Hebei Province 1500 MW Lianyungang Wafer Facility Jiangsu Province 1500 MW Headquarters in Beijing Office in Shanghai Xingtai Module Facility Hebei Province 1600 MW Fengxian Module Facility Shanghai City 1500 MW Lab partnership with TÜV and Intertek Hefei Module Facility Anhui Province 3300 MW Yangzhou Cell and R&D Facility Jiangsu Province 3000 MW JA Malaysia Cell Facility 1000MW 7

9 Product Range HIGH VALUE POLY SMART 1500V GLASS BLACK HIGH POWER MONO 8

10 Product Range Poly Crystalline 5BB Poly Crystalline module JA CYPRESS Cells 270Wp/275Wp 35mm Frame Full JA Standard (3x IEC Thresher) PID Passivation layer and AR coating to cell - reduced current leakage 5BB Decreases Current loss Value, Bankability 4BB cell 5BB cell 9

pattern Power, Performance Incident light Reflected light (light lost) Light absorbed Light absorbed PERC technology adds a

11 Product Range PERC Mono Crystalline (White Backsheet) 5BB Mono crystalline PERC module - Advanced cell structure with passivated back side - Black (35mm) Frame - 295/300Wp - Design without backside bar thanks to an increased number of fingers on the cell pattern Power, Performance Incident light Reflected light (light lost) Light absorbed Light absorbed PERC technology adds a passivation layer on rear of the cell to allow a steadier flow of electrons. Layer acts as a mirror and lengthens the light path in the cell. 10

12 Relative efficiency (%) Product Range PERC Mono Crystalline (White Backsheet) cont.. Superior performance under low irradiation Temperature Coefficient - Low energy photons with longer wavelength collected - Back layer of cell induces an electric field to confine the carriers in the base. - Power is a function of (among other factors) temperature and diffusivity of the carriers. Power loss of a PERCIUM cell is less than of a conventional cell % Pmax Coeffcient Relative module efficency comparison under different irradiance % % Conventional Mono Conventional Poly PERCIUM Mono % 99.00% 98.00% 97.00% 96.00% 95.00% 94.00% 93.00% Irradiance (W/M 2 ) 11

wavelength photons) - 295/300Wp - Full JA Standard quality checked (3x IEC Thresher)

13 Product Range All Black Modules 5BB Black Mono crystalline PERC module - Black Backsheet Black Frame - Strict color control systems - Low Light Performance (low energy/high wavelength photons) - 295/300Wp - Full JA Standard quality checked (3x IEC Thresher) Power, Performance, Aesthetics 5BB Black Mono crystalline module 280/285Wp Uniform appearance 12

Product Range Smart Modules SolarEdge Smart Junction box integrated module - SE OPJ300 type: junction box embedded at factory Cost effective solution compared to the add-on one - Available in

14 Product Range Smart Modules SolarEdge Smart Junction box integrated module - SE OPJ300 type: junction box embedded at factory Cost effective solution compared to the add-on one - Available in Poly/Mono/Black Mono JA and SE warranty wrap Module power optimization MPPT optimization on all single modules ground mounted system: 2-5%; commercial 2-10%, residential 2-25% Minimize shadings effect and lower mismatch loss Constraint free design: maximum space optimization Safety features Fire safety Module-level voltage shutdown to ease maintenance 13

significantly the cost of O&M Next generation of SE embedded solution New P400J design (Q1-Q2

15 Product Range Smart Modules O&M benefits Easy of install 100% remote and instant web monitoring Defect identification Remote troubleshooting and field maintenance capability Reduce significantly the cost of O&M Next generation of SE embedded solution New P400J design (Q1-Q2 2018) Removable Cover with power optimizer Thinner design so can be used with 35mm frames Simple replacement 14

16 Product Range Smart Modules JAP60S05-270/SC POLY CRYSTALLINE CELL 5 bus bar Cell. 35mm frame. 270Wp per Panel (STC) Silver Frame / White Backsheet Value Poly SolarEdge product. JAM60S07-295/PR MONO CRYSTALLINE CELL WITH PERC TECHNOLOGY 5 Bus bar Cell. 35mm Frame. 295Wp per Panel (STC) Black Frame/ Black Backsheet. High power module. High performance. Premium Good Aesthetics. JAM60S07-280/SC MONO CRYSTALLINE CELL 5 Bus bar Cell. 35mm Frame. 280Wp per Pane (STC) Black Frame/ Black Backsheet. Good Aesthetics. Good Value. 15

17 Product Range Power Pipeline Forecast 2018 POLY POLY 5BB POLY 5BB SE MONO SK BK SE SK SK BLACK PERC BLACK SE PERC BLACK PERCIUM 1500V MODULES 1500V or DG Poly 1500V or DG Mono Power (in W) 16

18 Change to Codes 5BB modules & New name methodology Manufact urer Cell type Number of cells Module type Module key characteristics code - Module power / Cell technology JA M: Mono P: Poly D: Dual glass S: Single glass 00: No backsheet 01: White backsheet 02: Black backsheet 03: Half cell & white backsheet 04: Tigo & white backsheet 05: SolarEdge & white backsheet 06: TG & black backsheet 07: SE & black backsheet - XXX / SC: standard cell PR: PERC BP: Bifacial PERC IB: IBC - Available starting from November Increase power output by 2W on average - Similar electrical parameters of 5BB modules compared to 4BB modules 17

Diamond wire slicing Wire Wire Containing already the abrasive particles The slurry used to cut silicon is

has been chemically bonded is run at high speed. All mono wafers are sliced using diamond wire saws.

19 Poly wafer structure 0.1RMB/W Change to Wafer Process Diamond wire sliced solar cells Slurry method slicing (using saw wire) Diamond wire slicing Wire Wire Containing already the abrasive particles The slurry used to cut silicon is typically a mixture of an abrasive grain (usually Silicon carbide) suspended in a carrier fluid (oil based liquids). Fixed abrasive (diamond wire) slicing - A wire to which diamond abrasive particles or a similar material has been chemically bonded is run at high speed. All mono wafers are sliced using diamond wire saws. Poly wafers switching to use diamond wire saws by end of the year Difference in wafer characteristics: the wafer surface become more smooth. A need to apply a special solvent for texture to create the pyramid structure for the cell. Why? = Lowers cost: Wafer cutting is 4x quicker Mono wafer structure

Monocrystalline wafer has only one crystal structure due to the inherent characteristics of the material.

20 0.1RMB/W Change to Wafer Process Why present this? Wafers sliced with diamond wire (instead of slurry method) product a slight glistening effect compared to Slurry cut wafer/cells Monocrystalline wafer has only one crystal structure due to the inherent characteristics of the material. It is easy to texture the front surface of the wafer to form the pyramid structure needed to absorb more lights. Poly crystalline cells has many crystals structure, after the diamond slicing the surface become more smooth (less pyramids structure) and it is difficult to texture it.

Product Range (to order) 1500V Modules IEC 1500V rated module - 50% Longer Strings 33% less cables/combinor boxes/fuses/inverters up to 2% total BOS saving /30% lower operation cost [GTM Research:

21 Product Range (to order) 1500V Modules IEC 1500V rated module - 50% Longer Strings 33% less cables/combinor boxes/fuses/inverters up to 2% total BOS saving /30% lower operation cost [GTM Research: cost savings $0.05/W] - Less voltage loss, enables higher efficient inverters - Backsheet change - Junction box/cables rated 1500V - Passed 96-hour PID test (85% RH85 at-1500v). Available in Poly/Mono BOS Components available 20

- Extended Warranty - UV/DH/PID resistance - POE/EVA - Poly 2017

22 Product Range (to order) Double Glass Double Glass module - Half Tempered Glass as backsheet (rather than polymer Backsheet) V - Extended Warranty - UV/DH/PID resistance - POE/EVA - Poly 2017 Longer strings, longer (and lower annual ) warranty, Lower shipping costs 21

Product Range (to order) Seaside /Water Front Modules Harsh

BOM to resist salty mist corrosive moisture.

EVA backsheet) - Passed double IEC61701 Class6 salt mist test.

23 Product Range (to order) Seaside /Water Front Modules Harsh Environment Resistant module - Assembled using especially selected BOM to resist salty mist corrosive moisture Additional anti PID resistance layers (cells, glass, frame, EVA backsheet) - Passed double IEC61701 Class6 salt mist test. Sea front, Coastal (50-500m from sea), floating solar, high stress environments Special request module 22

New Products 2018 Half cell modules Half

secondary reflection - Half current of each

with full size module - Lower temperature

performance - Less shading effect shading

24 New Products 2018 Half cell modules Half cell - 60 and 72 cell portrait mode - Higher output power (60-cell +5-10Wp; 72-cell Wp) - More space between cells more secondary reflection - Half current of each bus bar, internal loss reduced by ¾ compared with full size module - Lower temperature coefficient - Better mechanical load performance - Less shading effect shading Regular <5% output left shading Half cell 60 cell 50% output left 23

Bi-facial front side New Products Bifacial modules

Energy boost depending on bottom surface reflectivity

standard modules in lower light (winter) - Cost of

adoptable on normal cell lines and can be mainstream.

25 Bi-facial front side New Products Bifacial modules Bifacial - Increased power yield difference from 8-15% vs. standard - High resistance to harsh environmental - Energy boost depending on bottom surface reflectivity and installation height - Increased % gain vs. standard modules in lower light (winter) - Cost of progress not so much higher (unlike n-type) so easily adoptable on normal cell lines and can be mainstream. Bi-facial rear side Cell efficiency >21% Rated Power: 290Wp/350Wp Cell Efficiency >15% Rated Power: 200Wp/240Wp 24

26 25

27 Partnerships 26

28 谢谢您! c 27

Years. Solar Business Day 2017 January 25th, Driebergen, Netherlands. PV Production Trends Frank Niendorf, General Manager Europe, Jinko Solar

Years. Solar Business Day 2017 January 25th, Driebergen, Netherlands. PV Production Trends Frank Niendorf, General Manager Europe, Jinko Solar Years Solar Business Day 2017 January 25th, Driebergen, Netherlands PV Production Trends Frank Niendorf, General Manager Europe, Jinko Solar Company Overview Largest PV Module Manufacturer Worldwide (2016)