Company Presentation October 2010 Disclaimers & Safe Harbour - - PowerPoint PPT Presentation

Company Presentation

October 2010

Disclaimers & Safe Harbour Statement

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 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. This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability and marketability of its products; the future trading of the securities

• f the Company; the period of time for which the Company's current liquidity will enable the Company to fund its
• perations; general economic and business conditions; the volatility of the Company's operating results and financial

condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company

• perates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring

events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

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• 1. A Global Solar Player
• 2. World Class Manufacturing
• 3. Trina Solar Strategy
• 4. Market and Sales

1_Source: Navigant Consulting, Solar Outlook 01-2010 2_Source: Company releases

The Roadmap to Leadership Module Shipments

20061 2007 1 20081 2009 2 2010 (est.)2 4

Module Shipments, in MW

399

900-930 On track to be among the largest PV module suppliers

27 76 201

Top 20

435 180 363 309 498 458 1,112 704

Growing into an industry leader while maintaining strong financials. Growing into an industry leader while maintaining strong financials.

Top 6

Top 15 Top 10

Company Snapshot

• Founded in 1997, in Changzhou, China
• $845.1mm in Revenue in FY09
• >11,000 employees worldwide1
• Listed on the NYSE (under TSL ticker)
• One single manufacturing campus

Our Advantage: Vertically Integrated Business Model

Ingot Wafer Cell Module System Over 1GW of modules shipped since 2006

1_As of August 2010 2_ Estimate provided in Trina Solar Q2 2010 Earnings Call

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Italy 19-21%

Estimated shipments in 2010 Estimated shipments in 20102

2

900-930 MW

Czech Rep. 4-6% Germany 29-31% Spain 10-12% Italy 19-21% Belgium 7-9% France 4-6% USA 13-15% China 3-5% ROW 2-3%

Module Capacity Expansion

Module Shipments (MW) Main facts

170 290Wp 170 290Wp Module Power Range Wafer Thickness Cell Efficiency1 Polysilicon Usage 180 µm 180 µm Up to 19.5% mono Up to 18.0% multi Up to 19.5% mono Up to 18.0% multi 6.0g/W in 1Q10 6.0g/W in 1Q10

1_Test production line basis 2_ Cell and Module Capacity by end of August 2010

6 Module Capacity (MW)

27 75 201 399 900-930

2006 2007 2008 2009 2010

Long-Term Expansion Plans

Integrated manufacturing capabilities allows better control of

cost quality yield product development

• cycle time
• Trina Photovoltaic Park Facility Site

Strategic location of key suppliers Suppliers bring benefits like cost savings

East Campus (Phases 2 and 3)

500+MW production facility Single manufacturing campus Increased degree of vertical integration and

automation

Phase 1

• Finished -

Trina PV Park Facility Site

Phase 2

(Current) Phase 3

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7 R&D and manufacturing cluster

Cluster effect Sharing research/test lab capabilities

Top Management Team

Jifan Gao

Chairman and Chief Executive Officer

Jifan Gao

Chairman and Chief Executive Officer

• 20+ years of experience in finance and accounting
• Former Exec. VP of Finance of Spreadtrum (NASDAQ:SPRD)
• Former Controller at one of the world's largest NASDAQ-listed semiconductor

assembly and testing companies

Terry Wang

Chief Financial Officer

Terry Wang

Chief Financial Officer

• 20+ years of management and entrepreneurial experience
• Visionary founder of Trina Solar Ltd, in 1997
• Standing Vice Chairman of the New Energy Chamber of Commerce of the All-China

Federation of Industry and Commerce

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8 Stephanie Shao

Chief Human Resource Officer

Stephanie Shao

Chief Human Resource Officer

• Over 15 years of global experience in Fortune 500 Companies in managing key HR

functional areas and Marketing Management across industries and geographies

• Proven record in building people and organizational capabilities and business

partnership to support global business growth

• Ph.D in Social & Organizational Psychology from Rutgers University and Executive

Education in Marketing Management from Columbia Business School

• 1. A Global Solar Player
• 2. World Class Manufacturing
• 3. Trina Solar Strategy
• 4. Market and Sales

Our Competitive Advantage

The Best $/kWh Value

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1_ TUV Reinland's Energy Yield 2008 (period from June 1 to September 30, 2008) 2_ see slide 12 for more details 3_ Test production line basis

Modules ranked by TUV Rheinland (GER)1 and Desert Knowledge Center

(AUS)2 tests as one of the best performing module compared with other leading international brands

CENTER FOR EXCELLENCE: world class in-house testing center Modules ranked by TUV Rheinland (GER)1 and Desert Knowledge Center

(AUS)2 tests as one of the best performing module compared with other leading international brands

CENTER FOR EXCELLENCE: world class in-house testing center A single campus to ensure optimal yield and quality throughout the entire

manufacturing process

Efficient management of our supply chain A single campus to ensure optimal yield and quality throughout the entire

manufacturing process

Efficient management of our supply chain Cell efficiency: Achieved 18.8% for mono & 17.5% for multicrystalline end of

20093

Goal: reach up to 19.5% mono and 18.0% multi by end of 2010 3 Cell efficiency: Achieved 18.8% for mono & 17.5% for multicrystalline end of

20093

Goal: reach up to 19.5% mono and 18.0% multi by end of 2010 3 Maintained healthy financials all year round, for a FY09 Gross Margin of

28.1%

As of June 30, 2010, the Company had $685.3 million in cash and cash

equivalents and restricted cash.

Maintained healthy financials all year round, for a FY09 Gross Margin of

28.1%

As of June 30, 2010, the Company had $685.3 million in cash and cash

equivalents and restricted cash.

Our Facilities

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• 1. A Global Solar Player
• 2. World Class Manufacturing
• 3. Trina Solar Strategy
• 4. Market and Sales

Trina Solar Strategy

Portfolio strategy

Expand product line to serve more customer segments and markets worldwide Large product line from 175Wp to 290Wp New products tailored for residential and utility systems

Reliability & technology

Internal reliability testing on module & materials Accelerated Life Testing reliability tests 25yr warranty Working closely with UL, ICIM, TUV and customers Full vertical integration to ensure top quality at each step

Customer focus

• rganization

Local sales & technical team to support sales On-line after sales service launched Develop global & diversified customer base to mitigate risk and reduce currency exposure

DELIVER THE BEST VALUE TO CUSTOMERS & INVESTORS

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Solutions for all applications

RESIDENTIAL COMMERCIAL INDUSTRIAL UTILITY

RELIABLE PRODUCTS

Positive tolerance for all products

(0+3%)

Ongoing research and testing to

minimize Micro-cracks

LID testing Experimenting with module color to

provide customers with custom solutions

Certificates for all major markets (TUV,

UL, ICIM, VDE, JET and SGS)1

Offer a 5-year manufacturing

warranty, 10-year output warranty (90%) and 25-year output warranty (80%)

Products For Every Segment

Residential Commercial Utility

Product Portfolio

Mono-Series Multi-Series Design-Series

TSM-DC01 TSM-PC05 TSM-PC14 TSM-DC01 Black TSM-PC05 Black Wattage range: 175 240 Wp Module Efficiency: up to 14.70% 48, 60, 72 high efficiency Mono cells Wattage range: 220 290 Wp Module Efficiency: up to 14.95% 60, 72 high efficiency multi cells Wattage range: 175 235 Wp Module Efficiency: up to 14.50% 60 high efficiency multi cells or 72 high efficiency mono cells TSM-DC05 TSM-DC03

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New Product - TSM-DC80

Quad MAX NEW square MONO crystalline cell with advanced production process: 1. Two high temperature thermal processes 2. Additional printing and cleaning step 3. Uses special paste for cell surface Conversion efficiency: up to 18.8% Average efficiency: 18.2% TSM-DC80 The QuadMAX module Module conversion efficiency of up to 15.6% Modules using QuadMAX technology have up to 8% more power

• utput

Aesthetic appearance of QuadMAX cell provides ideal design solutions for residential rooftop applications

18.8% cell efficiency1

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1_ up to 18.8% , test production line basis

Quality, guaranteed by rigorous in-house testing

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Mechanical Loading Test UV Test Power Determination Test

CENTER FOR CENTER FOR EXCELLENCE EXCELLENCE

• Over 30 in-house tests, allows internal testing in accordance

with IEC standards and those of internationally-trusted testing bodies

• Long-term Strategic Partnership with TUV Rheinland Group,

Underwriters Laboratories Inc (UL) and China General Certification Centre (CGC).

• Material & Electrical testing to increase panel durability and

prolong product lifetime

• Allows Trina Solar to confidently offer customers our

customers product and manufacturing warranties

Sample Tests

Overview of Quality Tests

Environmental Reliability Testing:

Trina Solar puts a selection of PV modules through extreme environmental testing to ensure reliability and performance in the worlds most unforgiving environments. This allows Trina Solar to confidently provide our customers with a 25 year output warranty.

Component Testing:

Trina Solar carefully tests the performance of each module component both individually and together in order to maximize electrical output while minimizing the degradation of the module

• ver its lifetime.

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Damp Heat Test Damp Heat Test Mechanical load Test Mechanical load Test Wet Leakage Test Wet Leakage Test UV Preconditioning Test UV Preconditioning Test Corrosive Atmosphere Test Corrosive Atmosphere Test Impact Testing Impact Testing Outdoor Exposure Test Outdoor Exposure Test Highly Accelerated Stress Test Highly Accelerated Stress Test Humidity Freeze Test Humidity Freeze Test Insulation Test (Dry & Wet) Insulation Test (Dry & Wet) Thermal Cycling Test Thermal Cycling Test Hot-spot Endurance Test Hot-spot Endurance Test Materials & components testing Materials & components testing Measurement

• f NOCT

Measurement

• f NOCT
• Q. C.

throughout Manufacturing Process

• Q. C.

throughout Manufacturing Process Micro-crack Testing Micro-crack Testing Flash Testing Flash Testing Electrical Component Testing Electrical Component Testing Bypass Diode Test Bypass Diode Test

The Best $/kWh Under The Sun

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Results of the Photon Test, September 2009 (in kWh/kWp)

Trina Solar panels are among the worlds top performers. Trina Solar panels are among the worlds top performers.

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Even in the harsh Australian desert, Trina Solar panels outperformed competitors. Even in the harsh Australian desert, Trina Solar panels outperformed competitors.

Average Daily output, 2009 (Jan-Dec), in kWh/kWp How much more electricity do you get by using Trina Solar modules? How much more electricity do you get by using Trina Solar modules?

Trina vs.

BP Mono +8.0% SPWR +4.7% BP Poly +4.5% Kyocera

• 1.3%

Source: Data collected by the Desert Knowledge Australia, a public initiative supported by the Australia Energy Ministry

Desert Knowledge Australia test results

Alice Springs

The Best $/kWh Under The Sun

• 1. A Global Solar Player
• 2. World Class Manufacturing
• 3. Trina Solar Strategy
• 4. Market and Sales

Global Operations

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Zurich Europe HQ Changzhou, Jiangsu Corporate HQ & Factory Munich Sales Office San Jose, CA

• N. America HQ

Madrid

Sales & Marketing

Seoul, S. Korea Sales Office Tokyo, Japan Regional HQ Beijing Sales Office Milan Sales Office Corporate & Regional Headquarters Regional Sales & Marketing Branches Shanghai, China Corporate

10 branch locations, 11,000+ employees 10 branch locations, 11,000+ employees

Regionalized Decision Making

23 Benefits of regionalized decision making:

Closer proximity to customers and markets Improved, region-based Customer Service Increased reactivity to market demand Consistent Global Brand Management Closer-to-Market Product Feedback

Recruited local teams of experienced

experts

New warehouses in Europe and North

America for greater flexibility

Regional headquarters

CHINA SWITZERLAND USA JAPAN

Offices

KOREA GERMANY ITALY SPAIN

Market Strategy

Customer Focus

Wholesalers and Distributors PV System Integrators / Large installers

Brand Development

PV System Owners and Financiers

Solid position in: Germany, Italy, Spain and Belgium Strong development in: France, Czech Rep., Australia, US Growing in: Korea, China, India, Thailand

Geographical Distribution: 22 Countries Large diversified customer base Active medium-large size customers Rapid adaptation to market requirements Well developed channel strategy Local focus to provide excellent service and effective brand management Manage Brand Recognition Increased Influence Over End Customer

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Geographic Diversification

25

25

EUROPE USA & Others

Italy 18% Belgium 14% Spain 32%

2008 2008

201 MW

ROW 10-5%

2009 2009

399 MW

1_Estimate

Italy 19-21% Spain 13-15%

2010 20101

1

900-930 MW

Germany 24% Spain 32% Italy 18% Belgium 14% ROE 3% China 4% ROW 5% Germany 33% Spain 12% Italy 20% Belgium 21% France 7% USA 2% China 3% ROW 2% Czech Rep. 4-6% Germany 29-31% Spain 10-12% Italy 19-21% Belgium 7-9% France 4-6% USA 13-15% China 3-5% ROW 2-3%

Serving customers in 22 countries

Global Market Overview

GERMANY FiT decreases encourages

geographic diversification of customer base

ITALY Strong growth in 09 CZECH REP. Outstanding 09 growth to

continue into 2010

USA Market picking up in 2010, major growth of

utility segment

CANADA Ontario FiT to support steady growth CHINA National Feed-in-Tariff expected to spur

PV growth

INDIA Strong emerging market

2009 PV Market estimate: 7.3 GW 26

Source: internal estimates

26

Regional Market Outlook: Europe

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Key European Markets in 2010 EUROPEAN MARKET OUTLOOK

Germany to remain biggest World

market despite FIT digression.

CAP expected to be reached in Italy in

2010.

French FIT changes to support growth

• f agricultural sector & medium size PV

plants.

Spain to remain a small market BUT

very strong customers acting internationally.

Belgium to decrease its size BUT very

strong customers acting internationally

TRINA ACTIONS

New European HQ in Zurich. Expanded Sales Team in Germany. New sales office in Milano &

Madrid

Growing portfolio of Czech clients. Partnership with French top

distributors.

Worlds Largest Commercial

Rooftop installation in Belgium (40MW) with Invictus.

Trina Sales Presence 205 kW in Galargues, (South Eastern France) 26 MW in Murcia, Spain 20 kW in a Rome school, Italy 3,3 MW PV plant in Bavaria, Germany 100 kW in Arcadia, Greece 40 MW rooftop in Belgium

Sample projects throughout Europe

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Regional Market Outlook: USA

Key 16 State Markets in 2010 US MARKET PROSPECTS

Strong growth in 2010

driven by state RPS requirements

ARRA funding to boost

renewable energy sector

Project financing slowly

improving

Rapid growth of utility-

scale projects

TRINA ACTIONS

New Regional Headquarters

established in San Jose, CA

Completed 2 MW ground-

mounted system at Colorado State University

Partnerships with key national

distributors, developers, and utilities

Sales and customer services

reps in each region

Trina Sales & Marketing Presence 2 MW ground-mount Colorado State University 2.4 MW rooftop Atlantic City Convention Center

Large-scale ground- mount Large-scale rooftop

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Regional Market Outlook: Asia-Pacific

Key APAC Markets in 2010

APAC MARKET PROSPECTS

Australian market begins

period of rapid growth under strong state Feed-in Tariffs

Chinese market expected to

take off in 2010

Indias National Solar

Mission spurs market growth

New FiT encourages smooth

growth of Japanese residential market

TRINA ACTIONS

New Sales Offices in Japan

& Korea

Partnership with RFI, one of

Australias largest solar distributor

Growing project pipeline in

China

Sales and customer service

reps in each region

31.5 kW ground-mount Alice Springs, Australia 700 kW ground-mount Tibet, China 1.8 MW ground-mount Naju City, Korea

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Project Installations (1/2)

Spain 26MW

10th largest installations in the world 1

• 1. Source: pvresources.com, as of April 3, 2009
• 2. As of April 3, 2009

USA 2.4MW

Americas largest single rooftop installation 2

Netherlands 83kW

2007 largest PV system in the Netherlands

Italy 4.7MW

Largest PV rooftop system in Italy 2

Germany 3.3MW

Saves 2,200 tons of CO2a year

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Project Installations (2/2)

Australia 31.5kW Greece 100kW Korea 1.8MW

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Antwerp, Belgium 40MW

Marketing Activities: New Sponsor of Renault F1 Team

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Global Ambassador of Solar PV: help elevate the

status and accelerate the global adoption of solar PV

Bring PV to the wider audience of global sports

enthusiasts

Trina Solar technologies will be integrated into the

• perations and ongoing upgrades of the Renault

teams Enstone facilities

Contribute to the greening of the Renault F1 team

and the F1 sporting community

F1 Race Tracks in all major markets

Increased Brand Recognition & Global Partnerships

Marketing Activities

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Sponsorship of Lisa Airplane:

Developed 100% eco-friendly airplane, called the Hy-Bird. The plane will be flown around the globe, in stages.

Sponsored the Belgian European Pavilion at the Shanghai World Expo 2010

Customer Events

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Organized customer events at the most important trade shows in Europe, Asia, and North America Organized customer events at the most important trade shows in Europe, Asia, and North America Locations of Customer Events: Valencia, Spain Munich, Germany Los Angeles, USA Tokyo, Japan Shanghai, China Changzhou, China and more to come

www.trinasolar.com CHINA JAPAN KOREA U.S.A. SWITZERLAND GERMANY ITALY SPAIN