USSaudiForum - Plenary Session - Ahmad Chatila - Renewable Energy and Sustainability

SunEdison

Ahmad Chatila, President & CEO

US-Saudi Business Forum

Los Angeles, CA

September 18, 2013

P. 2 | SunEdison

Disclaimer on Forward Look Statements

DISCLAIMER ON FORWARD LOOKING STATEMENTS: With the exception of historical information, the matters disclosed in this presentation are forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties are described in the Company’s filings with the Securities and Exchange Commission (SEC), including its 2011 Form 10-K, and Q1 2012, Q2 2012 and Q3 2012 Form 10-Qs. These forward-looking statements represent the Company’s judgment as of the date of this presentation. The Company disclaims, however, any intent or obligation to update these forward-looking statements.

P. 3 | SunEdison

Agenda

1. Introduction & History

2. Market Trends

3. Manufacturing Technology

4. Solar Power Applications

P. 4 | SunEdison

>50 Years as a Technology Leader

M E M C

1959 Monsanto Electronic Materials Company (MEMC) formed

1962 Czochralski (CZ) silicon crystal process developed

1965 MEMC develops polishing process for silicon wafers

1975 First commercial production of 100mm wafers

1984 Commercialized 200mm wafers

1989 MEMC acquired by E.ON affiliate1991 300mm wafers developed

1995 MEMC IPO on the NYSE

2002 Significant 300mm expansion

2004 Crossed $1B revenue mark; acquired Taisil

2005 First 300mm production in Taiwan2006 Entered the solar PV wafer market on a large scale

2007 MEMC added to S&P 500; began solar wafer deliveries

2009 Acquired SunEdison and expanded into solar energy market

2010 Acquired Solaicx and Continuous Czochralski (CCZ) technology

2011 SunEdison one of the largest global solar PV companies

P. 5 | SunEdison

Global Presence

Utsunomiya, Japan

St. Peters, Missouri

Novara, Italy

Hsinchu, Taiwan

Chonan, South KoreaPortland, Oregon

Manufacturing Facilities Sales & Support Offices SunEdison Offices

Belmont, CaliforniaBeltsville, MarylandAthens, GreeceBangkok, ThailandBarcelona, Spain Chennai, IndiaDenver, Colorado Dubai, U.A.E.

Lecce, ItalyMadrid, SpainMilan, ItalyMinden, NevadaPennsauken, New JerseyPortland, Oregon Prescott, Arizona Recife, BrazilSacramento, Califormia

Chonan, South KoreaHsinchu, TaiwanIpoh, MalaysiaKuala Lumpur, MalaysiaKuching, MalaysiaNovara, Italy

Pasadena, TexasPortland, OregonSt. Peters, MissouriSherman, TexasUtsunomiya, Japan

Hsinchu, TaiwanNovara, Italy Paris, France Shanghai, ChinaSanta Clara, California

Sherman, Texas SingaporeSeoul, South Korea St. Peters, MissouriTokyo, Japan

Ipoh, Malaysia

Pasadena, Texas*

Kuala Lumpur, Malaysia

Kuching, Malaysia

San Francisco, California San Juan, Puerto Rico Sao Paulo, BrazilSantiago, ChileSeoul, South Korea Shanghai, China SingaporeTokyo, JapanToronto, Canada

* Indicated locations are Polysilicon manufacturing facilities

Sherman, Texas

P. 6 | SunEdison

Electricity Markets Will Drive Solar Industry

Sources: IHS, EPIA

Historic Subsidy-driven Solar Markets

Future Economy-driven Electricity Markets

Countries with (a) large electricity markets and (b) high irradiation levels

• Also markets with new generation capacity needs (growth or substitution)

Countries at ‘grid parity’ (segment-dependent)• Political support still expected

Potential market = Millions people huge annual electricity demand

Markets enabled through public policy measures• E.g. ITC, FiTs, ROCs, GCs, tenders, etc.

Over 100 GW of PV installed worldwide

Transition period 2-5 years

Past

Future

P. 7 | SunEdison

Addressable Solar PV Market is Large

ROW

Middle East

LatAm

Germany

Japan

India

China

USA

2020

105

2019

89

2018

76

2017

64

2016

55

2015

47

2014

41

2013

33

2012

31

Annual Installations (GWs)

Source: 2012-2016 installations based on IHS, GTM and SunEdison. 2017-2020 extrapolated from 2015-2016 growth rate

Addressable Market Through 2020 Nears:

500 GW, and

$1 Trillion (cumulatively)

P. 8 | SunEdison

Transition Toward Distributed Generation

20

24

2015

47

9

17

20

2014

41

9

15

15

2013

33

8

12

12

2012

31

7

11

1222

33

45

2019

894

18

29

38

2018

763

15

25

32

2017

64

11

22

27

2016

55

13RSC

Utility-Scale

DG

2020

1055 Off-Grid

Source: 2012-2016 installations based on IHS, GTM and SunEdison. 2017-2020 extrapolated from 2015-2016 growth rate Utility (>10MW), Commercial (10kw-10MW), Residential (<10Kw)

Annual Installations (GWs)Market Segment Shift

Toward Distributed Generation (DG) & Residential & Small Commercial (RSC)

• Higher value segments

Utility to see competition from other central generation sources

P. 9 | SunEdison

Business and Served Markets

Ingot Wafers Cells / Modules Systems

Ingot Wafers Semiconductors Electronics

Polysilicon

Semiconductors

Solar PV

MEMC

MEMC

Single CrystallineHigh Efficiency

Multi Crystalline

Std Efficiency

MEMC

Semi & solar grade, FBR granular and Siemens chunk

~$100 per unit

<$1per unit

P. 10 | SunEdison

Company 15,16,17

Com

pan

y 1

8

Company 14

Com

pany

12

Co

mpa

ny 1

3

Com

pan

y 9

Com

pany

6

Com

pany

7

Com

pany

5

Com

pany

2

Polysilicon Capacity & Demand

Com

pan

y 4

Other companies

Com

pany

1

Com

pany

10

Com

pany

11

Com

pany

8

Company 3

Variable Cost of Production($/kg)

Volume (MT/yr)

CurrentSpot Prices$17-19/kg

50k 100k 150k 200k 250k 300k0

$40

$30

$20

$10

Source: Bloomberg New Energy Finance Note: Demand estimates 197k to 230k MT in 2013; electronics market is estimated at 27k MT.

Solar Poly Demand BNEF 1Q13 Forecast190k MT – 230k MT

SMP 10k MT FBR Capacity with Industry Leading Cost

<$15/kg all in

SMP JV 4Q13 Ramp at Industry Leading Costs (All In)

High Pressure Fluidized Bed Reactors (FBRs) produces flowable and high packing density process Greatly improves productivity Lowers CapEX

P. 11 | SunEdison

Mono at Multi Cost

CCz enables “continuous pull”

Tighter resistivity forms the basis for higher efficiencies

MCLT is Minority Carrier Life Time

CCz PullerConceptual Illustration

Recharge basket

Silicon Melt

ContinuousRecharge

$0

$5

$10

$15

$20

$25

$30

$35

DSS (Multi)

Cz (Mono)

CCz (Mono)

Fully Loaded Conversion Cost ($/kg)

Conversion Cost ($/kg)

Range

P. 12 | SunEdison

Diamond Coated Wire (DCW) Wafering

DCW Wire

Post wafering, prior to separation

Std Slurry Cut

DCW$0.00

$0.10

$0.20

$0.30

$0.40

Wafer Cost ($/wafer)

~25%

Leading the Transition to DCW Nearly twice the cutting speed No slurry, lower kerf loss Lower overall wafering cost

P. 13 | SunEdison

System Economics

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

E

1Q

E

2Q

E

3Q

E

4Q

E

2007 2008 2009 2010 2011 2012 2013

$0.00

$1.00

$2.00

$3.00

$4.00Module ASP

Module ASPs dropped faster than BoS cost

PV modules were ~2/3rd the system cost in 2008

Now the module is only ~1/3rd the system cost

Higher module efficiency reduces BoS cost efficiency is increasingly more important

2008

BoS

Module

2010

PV Module vs BoS Cost

Source: Module ASP blended average of prices reported by top tier suppliers.

2012

Solar PV system cost

P. 14 | SunEdison

“440 Goal” – 400Wp at $0.40/Wp by 2016

“440 Goal” 400Wp Module

at $0.40/Wp

by 2016

Note : Cost includes opex, silicon, son-silicon, depreciation, warranty and inbound freight and excludes corporate general & admin. expenses)

P. 15 | SunEdison

Innovative Financing StructuresSunEdison has an unparalleled track record in creating bankable and replicable structures to finance aggregated solar portfolios that are widely accepted by the market ($2.5 bn in total financing)

SunE Solar Fund I/IIProject Finance Partnership

23 Project Aggregation

SunE Solar III/IVProject Finance Sale-Leaseback

195 Project Aggregation

SunE Solar V, V-B, V-CProject Finance Sale-Leaseback

33 Project Aggregation

SunE Alamosa1Project Finance Sale-Leaseback

8.2 MW Substation PV Plant

SunE Solar VIProject Finance Sale-Leaseback4 Project Aggregation (4.9 MW)

SunE Solar VIIProject Finance Sale-Leaseback4 Project Aggregation (3.6 MW)

Working Capital Facilities

Project Finance LoanSolar Loan Program (NJ)11 Project Aggregation

SunE Solar IXProject Finance Sale-Leaseback10.1 MW Substation PV Plant

SunE Solar XProject Finance Sale-Leaseback

$60 million

Direct Lease Kohl’s Department Stores

10 Project Aggregation

Global Solar Fund/Joint VentureLevered Equity

$1.5 billion

Rovigo, Italy€276 mm, 70 MW

Joint Venture

Catalonia, SpainEquity Placement

3 Project Aggregation (4.4 MW)

Puglia, ItalyLevered Equity

10 Project Aggregation (9.5 MW)

Catalonia, SpainProject Finance Loan2 Project Aggregation

Recovery Zone Facility Bonds20+ Project Aggregation

SunE Sky First Light, LP Project Finance Loan

9.0 MW PV Plant (Ontario)

Project Finance Loan37.0 MWs PV Plants (Ontario)

Private Equity Financings

15

SunEdison Confidential & Proprietary

P. 16 | SunEdison

Solar Applications across industries

Commercial

REITs & Developers

Public Sector

Utility

16

SunEdison Confidential & Proprietary

P. 17 | SunEdison

Commercial Scale Projects

Whole Foods Market WalMartStaples, Inc.

AT&T Kohl’s P&G

Anheuser- Busch

Macy’s SuperValu

P. 18 | SunEdison

Utility Scale Projects

Rovigo, Italy – 70 MW Karadzhalovo, Bulgaria – 60 MW Colorado, USA – 8 MW

MASDAR City, U.A.E. – 1 MW Cádiz, Spain – 2.3 MW Campania, Italy – 20 MW

P. 19 | SunEdison

Growing Global Market Share

2009 2010 2011 2012

MWs 40 167 296 450

Share 0.7% 1% 1.4% 1.8%

Global Rank 11 5 4 2

source: IMS

P. 21 | SunEdison

Horticulture Department , Rajasthan Number of Pumps allotted to SunEdison : 230 Beneficiary: Farmers Type of Irrigation: Drip System Size : 3 HP (3kW)

P. 22 | SunEdison

Solar for Transforming Lives Through Innovation

P. 23 | SunEdison

SunEdison Company HighlightsSunEdison Is a Global Leader in Semiconductor Products and Solar Energy

Formed in 1959

Listed on NYSE (WFR), Member of Fortune 1000

5,000+ employees in 25 global locations

Manufacturing plants on 3 continents and client operations on 5 continents

≈1 GW of PV developed and installed worldwide (4Q12)

2.6GW of projects pipeline and backlog (4Q12)

KEY MILESTONES

1959 Monsanto Electronic Material Company formed

1962 CZ silicon crystal process developed

1975 First commercial production of 100mm wafers

1995 MEMC I.P.O. on the NYSE

2003 SunEdison signs first solar PPA (Power Purchase Agreement)

2006 Announced entry into solar wafer market on a large scale

2009 MEMC acquires leading solar project developer SunEdison

2010 Acquired Solaicx and Continuous Czochralski (CCZ) technology

2010 SunEdison builds largest PV plant in Europe (70 MW)

2011 MEMC announces solar cell and module partnerships

2013 MEMC announces name change to SunEdison

P. 24 | SunEdison

SunEdison – Experience and Reach917 MW of PV Interconnected ≈2.6 GW of PV Pipeline**

2007 2008 2009 2010 2011 20120

100200300400500

26 32 40

167

296

450Interconnected PV Volume (MW/year)

● SunEdison connected 450 MW in 2012.● Cumulative 921 solar power systems

interconnected

Geographical Diversification*

USA: 439 MW

Bulgaria: 60 MW Canada: 63 MW

India: 54 MW

Spain: 29MW

Italy: 199 MW

Thailand: 26 MW

Korea: 32 MW

Brazil: 0.5 MW

UAE: 1 MW

● SunEdison has ≈2.6 GW of pipeline and continues to work of ‘green-field’ development for new projects

*Figures refer to projects in operation and under construction; **A solar project is classified as "pipeline" where SunEdison has a signed or awarded PPA or other energy off-take agreement or has achieved each of the following three items: site control, an identified interconnection point with an estimate of the interconnection costs, and an executed energy off-take agreement or the determination that there is a reasonable likelihood that an energy off-take agreement will be signed.

Mexico: 0.3 MW

US

48%EMEA & LA 21%

Emerging Markets

17%

Canada

14%

10 ≤ MW <50

33%

1 ≤ MW <10

10%

MW≥100

26%

MW <1 9%

50 ≤ MW <100

22%

Pipeline by Region

Pipeline by Project Size

P. 25 | SunEdison

SunEdison is the RIGHT Partner in Solar PV

Technology

Economics

Quality Brand

Industry leading PV Performance Roadmap Manufacturing technology and capabilities Holistic view for system level performance

Lower capital cost per unit capacity Market leading production costs Durable cost model over business cycles

Committed Partner for Long Term Success >1GW installed base w/ after market support Experience over broad technology base