Siliken is a global integrated solar photovoltaic company with presence in manufacturing, sales, distribution, and project development. The corporate presentation highlights: 1) Siliken has over 400MW of module manufacturing capacity across plants in Mexico, Romania, Canada, and Spain. 2) Quality and technology are strategic strengths, shown through proprietary manufacturing processes, certification achievements, and independent laboratory test results ranking Siliken modules highly. 3) The company has a global sales presence in over 20 countries through subsidiaries and distributors, allowing it to serve ground and rooftop installation markets worldwide.

1. Corporate Presentation 2012

2. Content
1. Solar photovoltaic global market 3
2. Siliken Group 8
3. Siliken strategic strengths 15
2

3. 1. Solar photovoltaic global market
3

4. Solar will lead the renewable energies
growth in the next decade with a 42% of share
Installed volume forecast by renewable energy 2010-2030 (GW-%) Renewable energies investment 2005-2030 (Bill. USD)
GW
3,000 Billions $
CCS
Geothermal Wind
1% 450
3% Heat
2,500 offshore 400
Biofuels
350
2,000 Wind 45% Biomass
300 waste
250
1,500
200 Solar
1,000 150
Wind 42%
Solar Wind
100 Offshore
500 Wind
Solar 50 Wind
Wind Solar Biomass & 9%
waste 0
0
2010 2015 2020 2030 2005 2010 2015 2020 2025 2030
Solar installations will lead the renewable energies growth with an estimated volume of 1.100GW in the next 20 years. That is
equivalent to 57GW/year, more than double what has been installed in 2011.
Sources: Bloomberg New Energy Finance ‘11 4

5. Within the Solar sector, Photovoltaic leads
the yearly installed capacity in the EU and is
the second renewable world wide
Yearly installed capacity by energy in EU 2011 (MW) 2011 World wide capacity installed by renewable energy (MW)
25.000 MW
45.000 MW
Renewables
installations
20.000 MW
Fossil fuel
installations 37.000 MW
15.000 MW Decommissioned
30.000 MW
10.000 MW
23.000 MW
5.000 MW
15.000 MW
0
7.000 MW
-5.000 MW
0
-10.000 MW
Sources: EPIA/EWEA 5

6. Photovoltaic levelized cost of energy (LCOE) has
decreased 50% in two years, and in the short
term will be highly competitive vs. fossil fuel
LCOE of different energies Q4 2009 ($/MWh) LCOE of different energies Q1 2012 ($/MWh)
Marine- Wave - 799
Marine - Wave $/MWh $/MWh
Marine- Tidal - 740
Marine - Tidal STEG- Parabolic Trough +5%
PV - c-Si STEG- LFR +5%
STEG- Parabolic Trough + Storage +5%
PV - Thin Film
STEG- Tower & Heliostat +6%
PV - c-Si Tracking Wind- Offshore +1%
STEG - Parabolic Trough + Storage STEG- Tower & Heliostat w/storage +6%
STEG - Parabolic Trough PV- c-Si -13%
Wind - Offshore
PV- Thin Film -12% PV is the only
Biomass Gasification
- - technology that is
Biomass - Anaerobic Digestion PV - c-Si Tracking -8% decreasing costs (Q4
Biomass Anaerobic Digestion
- 2011 vs Q1 2012)
Biomass - Gasification -
Biomass Incineration
- +3%
Biomass - Incineration
Municipal Solid Waste -
Wind - Onshore Geothermal Binary Plant
- -
Landfill Gas Wind- Onshore +4%
Municipal Solid Waste Small Hydro -
Large Hydro -
Geothermal - Binary Plant Geothermal Flash Plant
- -
Geothermal - Flash Plant Landfill Gas -
Natural Gas CCGT Nuclear -
Coal Fired -
Coal Fired
Natural Gas CCGT +7%
0 50 100 150 200 250 300 350 400 0 100 200 300 400 500
LCOE Carbon: 21 USD Carbon: NEF Estimates Central Scenario LCOE BNEF 2011 EU-ETS EUA Forecast Q1 2012 Central Scenario Q4 2011 Central Scenario
Consolidation is bringing module prices down further and “grid parity’ is being achieved in the world's sunny regions with high retail power
prices, unleashing unlimited market potential.
Sources: Bloomberg New Energy Finance ’11-’12, Q-cells ‘11 6

7. Photovoltaic sector will employ above 1m people
by 2020, generating more employment than wind
and thermal together
Employment in wind and solar sectors worldwide, 2011 and 2020
1,200,000
1,000,000
800,000
600,000 2011
2020
400,000
200,000
0
Onshore wind Offshore wind PV Solar thermal
By 2020, the photovoltaic sector should be employing 1.020.000 full-time
workers, nearly 350.000 more than 2011, and a rise of 51%.
Sources: Bloomberg New Energy Finance ‘12 7

8. 2. Siliken Group
8

9. Siliken is a global company integrated in the value chain of the solar photovoltaic industry, with the
commitment and determination to increase its capacity in each stage of the value chain. We
develop and implement innovative and guaranteed energy solutions displaying the highest levels of
quality, performance and profitability for the end customer.
Our motto defines our position:
9

10. From the innovation and quality control in the
manufacturing to the high level of distribution
services, customer commitment and satisfaction
PV Manufacturing and R&D PV Sales Distribution and Services
• We are one of the few • We hold collaboration • We are firmly committed to • We also supply all the • We offer a fully integrated
companies integrated in agreements with several of the quality as a form of components needed to create a "turnkey" product, from design
the manufacture of Solar market's leading differentiation. photovoltaic installation: power to construction through to
Silicon with FBR manufacturers. Design, engineering and converters, structures, hooks, con operation and maintenance.
technology. modules manufacturing are all nection boxes, etc.
• However, we are committed to carefully controlled to ensure • We have a vast experience of
• Proprietary FBR design high efficiency cells as that our solutions provide higher • Siliken has sales presence in 5 ground and rooftop installations
technology allows for one of the most important levels of performance. continents with its own in countries such as Spain,
differentiation using high- innovation projects that we are subsidiaries, sales offices and Italy, Germany, France and the
quality granular polysilicon. currently working on. • More than 400MWp* of module sales network. US, giving us a Know How that
capacity through two big benefits our customers.
manufacturing hubs in Mexico
and Romania, and plants in
Canada and Spain.
*400Mwp; 3 shifts for semi-automatic lines, 5 shifts for automatic lines 10

11. We focus on the manufacturing and own distribution
of photovoltaic modules and components
Siliken has more than 11 years experience in the
manufacturing, distribution and sale of photovoltaic
modules, components and solutions.
We currently have presence in more than 20
countries in Europe, Asia and America with our own
commercial and manufacturing structure.
11

12. We deliver all in one customized solutions with
free engineering and technical support
Siliken designs the complete energyBox kit for
you, providing free system design and customization
support to adapt the solution to your residential or
industrial requirements. All components guarantee is
managed by Siliken.
12

13. Development & Turnkey projects:
engineering, execution, operation and
maintenance
We handle the construction, operation and maintenance of both ground
and rooftop installations. Our projects can be 100% financed, are
technically impeccable and provide the very best quality guarantees.
13

14. Siliken has a private equity
shareholder, ensuring the group's long-term
viability and financial
strength
Siliken volume sold by country 2004-2011 (MW) Siliken Shareholders Structure
182
Canada
Others
163 USA 8%
ROW Founding
Greece
UK
Partners
33%
France
91
59%
Italy
57
44
Germany
16
5
2 Spain
2004 2005 2006 2007 2008 2009 2010 2011
 The Zriser Group is the family office of the
Serratosa Lujan family.
Zriser Group
 It covers several investment vehicles and its
Private Equity investment strategy is wide-ranging, with interests
Siliken sales 2004-2011 (Mill€)
in the capital market, private equity, the property
market and in industry.
368
336
255 Founding  Carlos Navarro  Alfredo Puche
Partners  Gonzalo Navarro  Francisco Clavel
152 154
53
17 Other  The 8% of "other shareholders" includes
5 employees, relatives and friends of the
shareholders
2004 2005 2006 2007 2008 2009 2010 2011 company.
14

15. 3. Siliken strategic strengths 2012
15

16. Globality
Quality
Technology
Loyalty
16

17. More than 400MWp* of module capacity
through two big manufacturing
hubs in N. America and Europe
Romania 200MWp
capacity
Spain 70MWp*
capacity
Mexico 130MWp *Most of the capacity in Spain will be relocated in Romania
capacity
Modules manufacturing Plants
Modules manufacturing Hubs
*400Mwp; 3 shifts for semi-automatic lines, 5 shifts for automatic lines 17

18. Siliken has sales presence world wide through
own subsidiaries and sales network...
Subsidiary commercial office
Commercial presence without subsidiary
Siliken Siliken
France Germany
Siliken
Italy
Siliken
Spain
Siliken
USA
Siliken Siliken
Mexico Japan
Siliken Siliken
Brazil Singapore
18

19. ...allowing us to cover both ground and rooftop
installation markets at a global level
*Ask for the siliken’s project dossier
19

20. Quality
Technology
Loyalty
Globality
20

21. In-house design, engineering and proprietary
manufacturing know-how ensure the highest quality
and performance of our products
Quality certificates
Our modules are subjected to strict quality controls at every stage of the production
process to verify and ensure our standards of quality are met.
ISO 9001 ISO 14001 CE Mark IEC 61215 IEC 61730 IEC61701 IEC 62716 UL 1703 ULC/ORD-C 1703 MCS AS/NZS 5033 Israel Electric JET
Corporation
In process of
certification
21

22. Siliken modules quality is globally recognized
through independent laboratory tests
Photon Laboratory 2011 Photon Laboratory 2010 TÜV Laboratory 2008
36 Leading manufacturers 23 Leading manufacturers 14 Leading manufacturers
assessed assessed assessed
Aleo Solar Schott Solar BP Solar Solarworld BP Solar
Bisol S-Energy Canadian Solar Inc. Sunrise Solartech Energy Solutions
BP Solar Sharp Evergreen Solar Sunways PV Tech Kyocera
Canadian Solar Inc. Shell Solar First Solar Trina Solar REC Scan Module
CH Solar Siliken Frankfurt CS Solar Winergy Solar P. Siliken
CNPV Solar Power Solar-Fabrik Isofoton Sheuten Solar
Conergy Solarfun Kioto Photovoltaics Sharp Electronics
CSG PVTech Solarworld Kyocera SolarWatt AG
Emmvee Solar Sonalis Mage Solar SolarWorld AG
Evergreen Solar Sun Peak Photowatt Solon AG
First Solar Sunrise Solartech PV Power Tech. Sovello AG
Frankfurt CS Solar Sunways PV Tech Schott Solar Suntech Power
Isofoton Trina Solar S-Energy 3S Swiss Solar
Kioto Photovoltaics Upsolar Sharp Trina Solar
Kyocera Winergy Solar P. Shell Solar
Mage Solar Siliken
Nexpower Tech Solar-Fabrik
Perfectenergy Solarfun
Photowatt
PV Power Tech.
REC
2nd Siliken 1st Siliken 2nd Siliken
22

23. Photon laboratory ranked Siliken modules as the
highest performance modules in 2010 and 2nd in 2011
Ranking of accumulated performance evolution of 23 module Ranking of accumulated performance evolution of 36 module
brands during PHOTON test 2010 brands during PHOTON test 2011
1,000
1,050
1,100
1,000
1,050
1,100
1,150
1,200
kWh/kWp
700
750
800
850
900
950
800
850
900
950
kWh/kWp
Siliken
Siliken REC Solar
Kioto…
Siliken
Siliken
NextPower T.
Winergy Solar CH Solar
Trina Solar CSG PV Tech
Frankfurt CS Solar CNPV
Winergy Solar
Mage Solar
Solarworld
S-Energy Bisol
PV Power T. CSG PV Tech
First Solar
Upsloar
Trina Solar
Solarworld
Conergy
Sunrise Solartech Aleo Solar
Photowatt
Shell
First Solar
Evergreen
Evergreen
Solarfun Sovello AG
CSI Shell
Isofotón Solar-fabrik
Canadian Solar
BP Solar
Isofotón
Kyocera Kyocera
Schott Solar Solar-fabrik
Schott Solar
Solar-fabrik
Sunways
Sunways BP Solar
Sharp Sharp
Photowatt
1st Siliken 2nd Siliken
Sources: Comparative studies carried out by the Photon laboratory in 2010, 2011 23

24. Technology
Loyalty
Globality
Quality
24

25. Innovation its the way to achieve further cost
reductions assuring a sustainable PV market growth
Silicon purification factory with High efficiency cell laboratory
FBR Proprietary technology
We are one of the few integrated global companies to have its The in-house development of high-efficiency monocrystalline
own high-purity solar-grade silicon production plant, allowing solar cells is one of the most important projects that we
us to guarantee maximum quality in all of our processes currently have underway and will provide even greater levels of
throughout the entire chain and transform the initial raw integration, guaranteeing maximum quality.
material into installations and projects that generate clean
energy all over the world.
25

26. In an overcapacity market, only the players with the
lowest production cost will supply the demand
Polysilicon capacity Vs cash costs of main manufacturers 2012 ($/kg)
Optimistic demand 2012 (32GW)
Cash costs
40$/kg
($/kg)* Conservative demand 2012 (28GW)
Tier 3-4
35$/kg
Renesola
REC MEMC
siemens
Tokuyama
30$/kg
29$/kg
LDK
27$/kg
25$/kg Wacker Daqo
Hemlock
23$/kg
OCI
21$/kg 1
Siliken REC
20$/kg FBR FBR
GCL
17$/kg
16$/kg
15$/kg
13$/kg
10$/kg
0$/kg
10.000 13.500 57.000 53.000 46.000 46.000 22.000 12.000 24.000 150.000
425.000
CAPACITY
220.000 245.000
Including semiconductors demand (tpa)
*Cash costs includes, manufacturing costs, utilities, SG&A & labour costs. Does not include depreciation and financial costs
1 Siliken FBR cash cost: According to the feasibility study from Fluor 2011 (80 reactors of 125 tpa capacity in China)
Sources: Bloomberg New Energy Finance 2011, companies BBDD, Morgan St., Credit Suisse 26

27. Loyalty
Globality
Quality
Technology
27

28. Our customers are the most important
engine of growth for our company
Siliken staff, technological Our success cannot
innovation, experience, knowledge and continue to spread
globality are placed at the service of our without the success of
customers with the aim of improving our customers.
conditions and growing together.
28

29. We guarantee the highest level of quality with
a local, efficient and committed service
Pre and After-sales service
Probably one of the most over-used yet under-valued terms. Guaranteeing service
quality to our customers is a commitment that is firmly embedded within the culture of
our team, because the true value of a company is in the last link of the chain: the link to
our customers.
29

30. Ronda Isaac Peral y Caballero, 14
Parque Tecnológico – 46980 Paterna – Valencia - España
Tel.: +34 902 412 233
Fax: +34 960 709 265