URE — Interim / Quarterly Report 2021

May 24, 2021

URE Company Profile

May 20, 2021

About URE

==> picture [324 x 278] intentionally omitted <==

• Merged：Oct. 2018

• ：

• Mkt Cap US$ 1.28 Billion

 Employee ： 1,623

 Product ： Solar Cell, Solar Module and Solar System, ESS products

2

URE Executive Team

==> picture [165 x 158] intentionally omitted <==

==> picture [165 x 158] intentionally omitted <==

Dr. Wen-Whe Pan CEO

Dr. Sam Hong Chairman & CSO

==> picture [165 x 158] intentionally omitted <==

==> picture [147 x 161] intentionally omitted <==

----- Start of picture text -----

Mr. Jack Chen
----- End of picture text -----

==> picture [118 x 148] intentionally omitted <==

Mr. Andy Shen President of Solar Business

Mr. Adam Hsu AVP of Taiwan System

VP of Oversea System

3

URE Cell – Industry-Leading

URE cells won Taiwan Excellent PV Award for 5 consecutive years (2014~2018, 2020)

==> picture [185 x 198] intentionally omitted <==

• Awarded mono cell with the highest efficiency

• The first solar company to develop P- type PERC bifacial cell and N-type HJT cell

• Types of solar cells:

• Mono PERC

• BiFi (Bifacial)

• • N-type NHJT

4

Taiwan No.1 Modules

==> picture [76 x 69] intentionally omitted <==

==> picture [94 x 219] intentionally omitted <==

==> picture [147 x 66] intentionally omitted <==

==> picture [145 x 222] intentionally omitted <==

==> picture [66 x 58] intentionally omitted <==

==> picture [78 x 66] intentionally omitted <==

==> picture [70 x 66] intentionally omitted <==

==> picture [64 x 58] intentionally omitted <==

==> picture [58 x 56] intentionally omitted <==

The only Taiwan module manufacturer awarded with:

• Taiwan Excellence Award, Taiwan Excellent PV Award and VPC.

• Taiwan Excellent PV Award for 8 consecutive years with the .

• highest-efficiency module

• Bloomberg Tier 1 list and .

• DNV-GL Top Performer list

5

Strategy on System Development

• C&I systems: rooftops of offices and factories

• Ground-mounted systems (Utility Scale)

• Highlight systems

6

2021/5/20

Projects – USA

==> picture [153 x 91] intentionally omitted <==

==> picture [277 x 231] intentionally omitted <==

==> picture [153 x 106] intentionally omitted <==

==> picture [153 x 109] intentionally omitted <==

Commercial Rooftop System

• Location: various states

• • Total solar system: 150 MW

Ground-Mounted System • Location: New Hampshire • Total solar system: 25 MW

Highlight System

Location: Indianapolis Airport Total solar system: 25 MW The largest airport solar system

19 7

7

Projects – UK

==> picture [170 x 352] intentionally omitted <==

==> picture [202 x 119] intentionally omitted <==

==> picture [101 x 81] intentionally omitted <==

==> picture [93 x 81] intentionally omitted <==

==> picture [94 x 82] intentionally omitted <==

==> picture [102 x 84] intentionally omitted <==

Residential Rooftop System

• Location: Manchester

• • Total solar system: 8 MW

Ground-Mounted System

Location: Wales, Shropshire, Cumbria, etc.

Total solar system: 30 MW

8

Projects – Taiwan

==> picture [156 x 281] intentionally omitted <==

==> picture [151 x 101] intentionally omitted <==

==> picture [151 x 104] intentionally omitted <==

==> picture [145 x 90] intentionally omitted <==

Ground-Mounted System

• Location: Changhua

• • Total solar system: 100 MW

Water-Surface Project

• Location: Taoyuan, Hsinchu

• • Total solar system: 17 MW

Highlight System

• Location: Kaohsiung

• • Total solar system: 1 MW

9

Projects - Middle East

==> picture [199 x 307] intentionally omitted <==

==> picture [213 x 160] intentionally omitted <==

Rooftop System

• Location: Dubai

• Total solar system: 12 MW

• • The largest rooftop system in Middle East area.

==> picture [448 x 137] intentionally omitted <==

19 10

URE ESS products

Industrial Home Portable

==> picture [55 x 161] intentionally omitted <==

==> picture [121 x 86] intentionally omitted <==

==> picture [212 x 145] intentionally omitted <==

==> picture [78 x 65] intentionally omitted <==

UPS Cell

==> picture [130 x 142] intentionally omitted <==

11

2021/5/20

1Q21 Financial Results

1Q21 YoY Comparison

Consolidated Income Statement

(NT$ million)

Net Sales Gross Profit Operating Expense Operating Profit Profit Before Tax Net income EPS

==> picture [453 x 342] intentionally omitted <==

----- Start of picture text -----

1Q 2021 1Q 2020 YoY
Amount % Amount % %
3,005 100 2,987 100 0.6
-47 -1.6 -281 -9.4 -83.3
414 13.8 463 15.5
-461 -15 -745 -25 -38.2
-551 -18 -706 -24 -22
-554 -18 -713 -24 -22
-0.2 -0.26
----- End of picture text -----

Thank You