Investor Presentation

1 3-SOLAR PV CAPEX Solar PV CAPEX evolution and 2022 estimates Tiers 1 Module capacities (GW) EUR Modules Trackers 2020 Post Covid Price W 2021 Cost per MW Price W 0.193 193,000 0.25 Cost per MW 250,000 H2 2022 Price W Cost per MW 0.23 2020 2021 2022 230,000 Longi 24 45 Jinko 19 30 0.086 86,000 0.1 100,000 0.09 90,000 JA Solar 15 30 Trina Solar 15 35 Inverters 0.040 40,000 0.042 42,000 0.042 42,000 Canadian Solar 11.3 20 Risen Energy 10 20 Cable 0.035 35,000 0.043 43,000 0.043 43,000 Q Cell 6.5 First Solar 5.7 Logistics 0.009 9,000 0.06 60,000 0.035 35,000 Civil works 0.027 27,000 0.027 27,000 0.027 27,000 GCL-SI Rest 3.5 8 5 6.7 44 44 154 244 Others BoP 0.01 10,000 0.013 13,000 0.013 13,000 58% ↑ Total 400,000 0.535 535,000 0.480 480,000 Total new Solar PV Installed capacity (GW) IEA forecast Expected to continue growing in 2022 135 183 228 Exchange rate 1.14 1.21 1.05 • 2022 Containers inflation during 2021 was related mainly to covid quarantines in China and US main logistics ports. Depending on covid situation in 2022 those measures are smoothly relaxed and the situation is back to normal. ⚫ BNEF claims that Chinese polisilicon production will tripple in 2022, to allow equivalent production of 500GW per year. More polysilicon for panels Forecast production of polysilicon (mill. of tons). 3 2 1 0 2021 2022 Company estimate and data from Bloomberg. Grenergy renovables 21

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