Company Presentation November, 2008 1 Confidential
Disclaimers This presentation does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of Trina Solar Limited (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. The information herein has been prepared by the Company solely for use in this presentation. No The information herein has been prepared by the Company solely for use in this presentation. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives will be liable (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation. 2 Confidential
Company Overview The Solar Challenge Trina Solar Strategy and Roadmap Sales and Marketing Sales and Marketing Financial Performance 3 Confidential
Company Snapshot Module Capacity 350 ● Founded in 1997, in Changzhou, China ● 200 – 206MW module production in 2008* ● $800 – 850M of revenue in 2008* 150 ● 5,000 employees worldwide** 75 ● Listed on the NYSE under TSL ticker ● One single manufacturing campus 2006 2006 2007 2007 2008 2008 Our Advantage: Vertically Integrated Business Model System Ingot Wafer Cell Module * Guidance Q3 2008 **End of 3Q08 4 Confidential
History & Milestones Named fastest growing company in the Deloitte Technology Fast 50, China 2007 First commercial Built first BIPV demo IPO: 20/12/06 shipments Cell Supply for house in China Partnership Launch of BIPV and Participated in first with Lisa UMG-Si module lines Trina Solar Ltd. Trina Solar Ltd. Renewable Energy Renewable Energy Airplanes Airplanes founded Law in China 1997 1999 2003 2005 2006 2007 2001 2008 2009 2006 Launched Wafer Launched Cell Reach 350MW Built 39 PV manufacturing manufacturing capacity Plants in Tibet ISO 9002 Standard Trina Solar Research Center Launched Proud sponsor Ingot manufacturing of Espanyol Barcelona 5 Confidential
Global Footprint Markets with sales Trina offices in 2008 San Francisco Munich (in process) Barcelona Changzhou (HQ) China, Germany, Spain, USA, Shanghai Shanghai Italy, Benelux, Greece, UK, Italy, Benelux, Greece, UK, S. Africa, S. Korea, Czech, Norway, Austria, Australia, Canada, Portugal… More than 12 nationalities from Investors from USA, 4 different continents Listed on the NYSE Europe and Asia represented within Trina Solar 6
International Management Experienced Management Team with Significant Industry and International Expertise � Former Exec. VP of Finance of Spreadtrum (NASDAQ:SPRD) Terry Wang Chief Financial � Former Controller at one of the world's largest NASDAQ-listed Officer semiconductor assembly and testing companies Jifan Gao Founder, Sean Tzou � 20 years of experience in supply chain and operations management Chairman & CEO � Experience as corporate VP in charge of Asia-Pacific Services at Chief Operating Officer Solectron Steven Zhu � 18 years of � Founder of a wireless communications company in China VP of Procurement & management and � Previous experience with IBM Business Dev. entrepreneurial experience � Standing Vice Arturo Herrero � Previous experience as a global procurement manager at BP Solar Chairman of the VP of Sales and � BA in Economics, Electrical Engineering and MS in Marketing New Energy Marketing Chamber of Commerce of the � 17 years manufacturing management experience in semiconductor- Gary Yu All-China related industries. VP of Manufacturing Federation of � Managing Director of Wuxi Lite-On Technology Industry and Commerce � 21 years experience in Quality Management Anthony Chia � Senior Manager, Former Quality Assurance at Motorola Singapore VP of Quality and China 7 Confidential
Company Overview The Solar Challenge Trina Solar Strategy and Roadmap Sales and Marketing Sales and Marketing Financial Performance 8 Confidential
What Change Do We Need? CHANGE NEEDED A radical change is needed in the energy sector that: � Is environmentally sustainable � Is economically feasible � Offers a rapid transition (10 – 20 years) � Can be implemented immediately on a large scale � Will offer long term solutions in the energy sector � Can be implemented at the end-user level 9 Confidential
Solar Is Part Of The Solution “ Solar energy could make a significant contribution to reducing CO2 emissions […] & would help avoid around 3Gtns of CO2 up to 2030” * 40 min. of sun ~ 1 year of energy Today ~0.5% 64% Electricity produced from Trina Solar modules over the last 4 years could have power 78,000 houses ** 10 *Source: Sustainability report, Sarasin Bank Nov. 2007 ** Based on 310MW of modules produced as of end of 2Q08, for a house consumption of 5,500kWh/year
State of the PV Market Global PV installations ~8GW Road to grid parity** 2009 Hawaii 2010 Japan 2011 2011 Cyprus Cyprus 2012 Italy, S. California 2013 Spain, Portugal 2014 Germany 2015 New York, Greece, Netherlands PV prices must go down significantly Global demand in 2008: 4.7GW * to reach grid parity faster *Source: Thomas Weisel Partners LLC, Oct. ‘08 11 ** For residential systems, internal estimates
Evolution of the Solar Demand PV regulations EEG Amendment #1 Amendment #2 Germany 2 nd Royal Decree Spain R.D. 3 R.D.4 Million Roof pgrm Cal. Solar Initiative California Italy FIT #1 FIT #2 (MW) France FIT #1 Source: Internal estimates 12 Confidential
Emerging European PV Markets MAIN MARKETS NETHERLANDS SECONDARY MARKETS 33 €ct 15 years (including EMERGING MARKETS annual adjustments) BELGIUM CAP 2009: 15 MW 30 €ct 20 years CZECH REPUBLIC No CAP 52 €ct 20 years GERMANY Digression up to 5% per year per new systems 32- 33 €ct 20 years No CAP No CAP SLOVAKIA 45 €ct 45 €ct FRANCE FRANCE LUXEMBOURG LUXEMBOURG Starting in Jan. 2009 30-40 (+17 BIPV) €ct 36- 41€ct 15 years 12 years 20 years CAP: 540 MW SLOVENIA Revision ini 2015 First 5 five years 37 €ct, SWITZERLAND second 5 years 35 €ct, 10 followings years 32 €ct 32-60 €ct 25 years 20 years 8% annual drop for new BULGARIA installations from 2010 FIT annually adjusted to the 38-40 €ct 12 years inflation rate. SPAIN Revision in 2009 32- 34 €ct 25 years 500 MW for 2009 GREECE ITALY 40-50 €ct 20 years 36- 49 €ct 20 years PORTUGAL CAP: 850 MW CAP: 1200 MW 35-65 €ct New draft from 2010: CYPRUS Revision in 2016 Payment fix during 15 years FIT digression & CAP (35 €ct) & 5 years (65 €ct) elimination 20-38 €ct 15 years CAP 150 (GM) / 50 (RF) MW Confidential
Emerging APAC and NA Markets CANADA (ONTARIO) 26 €ct 20 years Government working on new FIT rates SOUTH KOREA 30-40 €ct 15 years INDIA 19-24 €ct USA for on-grid system JAPAN 5 Year Plan Subsidies to be set in Net metering available in 44 (2007-2012) April 2009 states + D.C. Tax credits Grant programs Loan programs CHINA Tax exemption programs Tax exemption programs Subsidies in process, 8 years Tax rebate expected for 2009 AUSTRALIA Green Australian proposal Fit per kW/h established by the Ministry of Energy Period: 20 years Limit of the annual CAP: fixed per 5 years, then it can be reduced until 10% per year. No size limitation Draft of the proposal presented in May 2008. Support Programs Solar Home: Rebate of € 4 per peak watt of output. Remote Renewable Power: Up to 50 % of the capital cost of generation National Solar Schools: € 91,45 mill. for 8 years (750 kW/year). Confidential
Company Overview The Solar Challenge Trina Solar Strategy and Roadmap Sales and Marketing Sales and Marketing Financial Performance 15 Confidential
Strategic Focus Trina Solar Strategy Main Strategic Levers � Stable plant and capacity expansion Growth Strategy � Secured silicon and non silicon supply � Strategic supplier co-location (Changzhou-Trina PV Park) � Reduce wafer thickness and kerf loss � Increase cell efficiency Technology/Quality Strategy � Strong process control in ingot-wafer-cell-module development � Best in class quality – top 3 TUV ranking � Decrease silicon feedstock cost � Reduce non silicon material cost Cost Strategy � Lower processing cost – benefit VERTICAL INTEGRATION Large diversified customer base � Active medium-size customers � Market Strategy Speed to market supported by integrated business model � Well developed channel strategy � Local focus to promote and manage brand � Rapid capacity and market expansion, providing best in class technology and driving down cost 16 Confidential
Module Capacity Expansion Module Capacity & Production Growth Main facts Capacity 350 MW mono & multi Module Power Range 180 – 240Wp 17% mono Cell Efficiency 16% multi Wafer Thickness Wafer Thickness 180µm Secured LT contracts Polysilicon with 7 suppliers 17 Confidential
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