SOLAREDGE TECHNOLOGIES - NASDAQ | SEDG PRESENTED BY: RONEN FAIER - SOLAREDGE TECHNOLOGIES, INC.
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SolarEdge Technologies
NASDAQ | SEDG
Presented by: Ronen Faier
August 2018
© SolarEdge
Forward Looking Statements Use of Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements include information, among other things, concerning: our possible or assumed future results of operations; future demands for solar energy solutions; business strategies; technology developments; financing and investment plans; dividend policy; competitive position; industry and regulatory environment; general economic conditions; potential growth opportunities; and the effects of competition. Forward-looking statements are only predictions based on our current expectations and are inherently subject to risks and uncertainties. They should not be considered guarantees of future results, which could differ materially from the results set forth in, contemplated by, or underlying this presentation. Factors that could cause actual results to differ materially from our expectations are described in the reports filed by SolarEdge with the Securities and Exchange Commission and we encourage you to review our filings carefully, especially the sections entitled “Risk Factors” in our annual report Form. SolarEdge undertakes no duty or obligation to update any forward-looking statements contained in this presentation as a result of new information, future events or changes in its expectations. 2 © SolarEdge
SolarEdge in Numbers
8.5GW of 27.9M
our systems power optimizers
shipped
shipped
worldwide
Over 680,000 monitored 1.2M
systems around the world inverters shipped
Presence
in 23
countries 1,176 employees
131 awarded patents and 191
additional patent applications
3 © SolarEdge
Q2/2018 in Numbers
36.1%
Gross Margin
$227.1M
Revenue
$40.6M Non-GAAP Net Income
$43.9M
Cash Flow From Operations
$437.6M Cash and investments Balance
$34.6M GAAP Net Income
4 © SolarEdge
Global PV Market Forecast
160.0
143.1
136.8
140.0
123.6
120.0 114.9
102.3
100.0 93.5
77.8
80.0
60.0 56.4
42.9
37.9
40.0 31.1
27.0
20.0
0.0
2011 2012 2013 2014 2015 2016 2017 2018E 2019E 2020E 2021E 2022E
5 Source: IHS, PV Installations-tracker-q2-2018 © SolarEdge
Global Installations by Region
Global Installations (GWdc)
160
140
2%
2%
120 2%
3%
100 1%
1%
65% 73%
80 0%
64%
61%
60 55%
30%
20%
40
23% 15%
18% 19%
20
12% 15%
9%
14% 14% 10% 11%
71% 57% 29%
0
2016 2017 2018 2019 2020 2021 2022
Europe Total Americas Total Asia Pacific Total Africa and Middle East Total
6 Source: IHS, PV Installations-tracker-q2-2018 © SolarEdge
Inverter Installations by Installation Type (GW)
Global PV Installations, By installation type
160
140
120
100 61%
67%
58%
80 49%
43%
60 32%
24%
40 26% 31%
39% 32%
42%
20 47%
57%
7% 21% 15% 11% 10% 8% 8%
0
2016 2017 2018 2019 2020 2021 2022
Residential (
Inverter Shipments by Power Class
100%
90%
80% 40% 38% 37% 35%
45% 41%
70% 55%
60%
50%
40% 51%
45% 46% 48% 49%
30% 45%
34%
20%
10%
10% 13% 12% 12% 12% 12%
9%
0%
2016 2017 2018 2019 2020 2021 2022
Microinverters Single-Phase Three-Phase Low Power Three-Phase High Power
8 Pv inverter market-tracker-Q2 2018 © SolarEdge
Innovative Architecture
Traditional String Inverters Microinverters DC Optimized Inverter System
One central inverter One inverter per module Simplified central inverter
No module-level optimization Module-level optimization Module-level optimization
No module-level intelligence Limited scalability Improved scalability
Energy loss Cost and scalability
Limited roof utilization Questionable reliability
No module-level monitoring Monitoring requires additional
Safety hazards hardware
9 © SolarEdge
Innovative Solution
Safe DC Power Fixed Voltage Cloud-based
Optimizer Inverter Monitoring Platform
Enhanced Safety Higher Power Design Lower O&M Cost,
Solutions Yield Flexibility Efficient Monitoring
10 © SolarEdgeTop Global Inverter Company
World PV Inverter Supplier Rankings World single-phase PV inverter supplier
($ Revenues) market share estimates (MW shipments)
RANK COMPANY CHANGE RANK COMPANY CHANGE
1 Huawei +1
2 SMA -1
1 SolarEdge -
2 SMA -
3 Sungrow +1
3 Ginlong +9
4 SolarEdge -1 4 Goodwe +7
5 ABB +1 5 Omron -2
6 Schneider Electric +2 6 Enphase Energy -2
7 Omron +2 7 Growatt +2
8 Fronius +3 8 Panasonic -3
9 Goodwe +6 9 SAJ +6
10 Enphase -3 10 Fronius -2
Source: IHS PV Inverter Market Tracker Q2, 2018
11 © SolarEdgeEstablished Global Reach
Presence in 23 countries Regional service centers
247 direct customers Over 20,000 installers Systems installed in 133 countries
12 © SolarEdgeRapid Growth
Annual Revenue ($M) SolarEdge U.S. Residential Inverter
Market Share (MW)
44.9 %
1.7%
2012 Q1/2018
13 Source: GTM Research © SolarEdgeTechnology Roadmap
Single phase inverters Three phase inverters HD-Wave Inverter
With HD-Wave with synergy technology Technology
INVERTER GEN1 INVERTER GEN2 Technology Up to 100kW (3ph)
3kW – 6kW (1ph) 2.2kW – 7.6kW (1ph) 2.2kW – 7.6kW
5kW – 20kW (3ph)
Efficiency
Power Rating
$/Watt
OPTIMIZER GEN1 OPTIMIZER GEN2 OPTIMIZER GEN3 OPTIMIZER GEN4 OPTIMIZER GEN5
2010 2011 2013 2015 2017 FUTURE…
14 © SolarEdgeOne Inverter for All Applications
The SolarEdge StorEdge One inverter replaces multiple separate management devices
inverter combines energy Home Energy
PV Storage Backup
Management
management of all features
into one inverter
Simple design
Fast installation
Centralized energy
management
Designed to work together;
seamless and synchronized
Monitoring platform displays
production, consumption,
self-consumption & battery
status on a single dashboard
15 © SolarEdgeA Complete Residential Solution
A single solution for PV, storage, smart energy and EV charging
Power Optimizer
Smart Energy
Smart Energy
Relay
Single Three
Inverter phase phase
Smart Energy
Hot Water
Smart Energy
Socket
Monitoring Platform EV-
StorEdge™ ready
EV Charging
16 © SolarEdgeRevenue Growth
(CY Ending Dec 31, USD millions)
17 © SolarEdgeGross Margin Expansion
(CY Ending Dec 31)
18 © SolarEdgeOperating Expenses
% Of Revenue
(CY Ending Dec 31)
19 © SolarEdgeOperating Profitability
(CY Ending Dec 31, USD millions)
20 © SolarEdgeNet Profitability
* Q1-18 and Q4-17 includes one time transition tax of $0.8 and $18.7M respectively
(CY Ending Dec 31, USD millions)
21 © SolarEdgeNet Profitability — Non GAAP
(CY Ending Dec 31, USD millions)
22 © SolarEdgeCash Flow from operating activities
$43.9M cash flow from
operations in Q2 2018
$437.6M cash and investments
(as of June 30, 2018)
Scalable CAPEX light
manufacturing model
Debt free
(CY Ending Dec 31, USD millions)
23 © SolarEdgeNASDAQ | SEDG
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