Investor Presentation

Multi Metric Performance Ambitious Extreme Business as Usual 甲 P Total Deployment Material Lifecycle Demand Wastes Energy Demands Net Energy Balance Energy Scenario TW bmt bmt TWh TWh Unitless PV ICE 191 10.1 5.1 PERC SHJ 188 8.2 2.1 122,000 7,569,000 144,000 7,044,000 50 63 188 7.8 2.0 116,000 7,719,000 67 TOPCon 188 8.0 2.1 119,000 7,644,000 65 IRENA reg. loss 265 11.0 4.2 Long-Lived 145 8.7 3.2 107,000 7,333,000 193,000 6,995,000 37 70 High Efficiency 263 12.2 8.1 Circular 401 9.3 1.2 150,000 7,699,000 52 154,000 7,034,000 47 High Eff + Long-life 189 9.0 4.7 Long Life + Recycling 152 8.8 2.9 112,000 7,328,000 110,000 7,740,000 71 66 Recycled Si + Long-life 227 8.2 1.3 147,000 7,041,000 49 Circular + Long-life 272 8.9 1.5 148,000 7,040,000 49 Circular + High Eff 401 7.2 1.9 137,000 7,051,000 52 Minimize Maximize bmt = billion metric tonnes Benefit Harm COLORADO SCHOOL OF MINES ONREL | 20

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