Neo Solar Power Corp. (3576 TT)
Professional maker of QUALITY solar cells

Company Presentation
November 2010

Safe Harbor Statement
This presentation may contain various forward-looking statements andinclude assumptions concerning Neo Solar Power Corp. (NSP) operations,future results and prospects. These forward-looking statements are basedon current expectations and are subject to risk and uncertainties. NSP
provides the following cautionary statement identifying important factors
which, among others, could cause the actual results or events to differ
materially from those set forth or implied by the forward-looking statements
and related assumptions.
Such factors and other risks are discussed in greater detail in the NSP’sfilings with the Securities and Futures Bureau of the Financial Supervisory
Commission, Executive Yuan, R.O.C. and the Taiwan Stock Exchange Corp.

Neo Solar Power Corp.

– Quantum Leap to Gigawatt –Outlinel Company and Business Overview
l Operation Highlightsl Financial Performance

NSP Corporate Overview
NSP (3576 TT) is a leading Taiwanese solar energy company and one of the world’s
largest PV cells manufacturers. NSP is engaged in development, manufacture and saleof high quality PV cells and modules to worldwide markets, including Europe, Asia,Japan, and North America.

Key Factsn World Tier 1 solar cell makern Founded in 2005, headquarter in Hsinchu, Taiwann Shares outstanding (11/12/2010): 285M
n Market Cap (11/12/2010): US$700M
n Annual Capacity:

800MW (FY2010) / 1.2GW (FY2011)n Products: Mono- / Multi-Crystalline Solar Cells and Modules
n Employees: 1400 +Operation Sites
FAB 1: Installed capacity 100MW

TypeCellModuleLocation

Installed CapacityMax. (MW)FAB 1:Hsinchu, Taiwan

100

FAB 2 & HQ:
Hsinchu Science Park,Taiwan

700

FAB 3:Tainan, Taiwan

400+ (FY 2011)(3400 Max.)

Hsinchu, Taiwan

50

FAB 2: Installed capacity 700MW

FAB 3: Installed capacity 400MW (Max. 3.4GW)

Experienced Executive Team

Dr. Quincy Lin, Chairman and CEOnnn

Over 30 years of experience in high tech management
Senior Vice President of TSMC – world’s largest semiconductor foundry
Ph.D. in Business Administration, MBA, BS in Electronics Engineering

Dr. Sam Hong, President and COOnnn

7 NSP Proprietary

Over 30 years of experience in photovoltaic solar energyGeneral Director of PV Solar Energy Division at the Industry Technology ResearchInstitute (ITRI); VP & Plant Director of Sinonar Solar Cell Co.
Ph.D. in Electrical Engineering

Experienced Executive Team
Andy Shen, Sr. Vice President of Worldwide Sales & Marketing
nnnOver 25 years of industry experience in semiconductor engineering, sales, andmarketing
Senior Director, TSMC; President, TSMC-Europe
Master of Business Administration; MS in Electrical Engineering

Dr. Alex Wen, Sr. Vice President of OperationnnOver 15 years of experience in silicon-material technology
Manager, Industrial Technology Research Institute (ITRI)

Marco Hu, Sr. Vice President of Strategy Development
nnn

8 NSP Proprietary

Over 30 years of experience in high-tech production management & generalmanagement
President , Tynsolar; Product Marketing Manager at HP; Planning Manager &Production Manager at TI
BS in Electronics EngineeringCompany Milestones
2010

2009

• Broke ground for FAB 3 in Tainan, Taiwan with designed capacity of 3.4 GW• Ranked world 14th largest cell manufacturer (Gartner, 2009)• Launched two high efficiency products, Multi-Crystalline “Super 17”
and Mono-crystalline “Perfect 18”• SOC launched mass production with designed annual capacity of 50MW
•1st listed on TSE Main Board in 2009 (2009/1/12)• Launched two high efficiency products “Super cell” and ”Perfect cell”• Ranked world 20th largest cell manufacturer (Photon 2009)• Ranked 6th Fast-Growing Technology Company in Asia (Deloitte 2009)• Ranked top 3 Best Growth Manufacturer (Common Wealth 2009)2008• Taiwan 3rd largest cell maker• Revenues topped at NT$10.18 billion (US$336 mil.)• Ranked top 5 in revenue growth, top 6 in profit growth (Business Today 2008)

2007• Broke ground for FAB 2 & HQ in Hsinchu, Taiwan• Best 2007 ROE (33.74%) & ROA (22.08%) among Taiwan listed peers

2006• 1st line at FAB 1 reached 100% utilization• Break-even achieved in the same year just two years into operations

2005• Company foundedStrategically Positioned in Supply Chain
Poly-silicon

Wafer

Solar Cell

Module800MW50MW

Systemn NSP is well positioned in supply chain with superior process management
and quality control
n NSP’s management has years of experiences in semiconductor and solar
industries with technical expertise that covers all disciplines of the PV industry
n NSP is well recognized by worldwide customers in terms of the high quality
products, significant expansion plan, and fast growing revenue* Numbers shown under the graph are annual capacities to the end of 2010.

NSP’s Competitive Advantages
High Quality & Reliability

Competitive Manufacturing Costs

n Lowest Power Lossn Lowest Light Induced
Degradationn Low Breakage Raten One of the lowest manufacturingcosts in the worldn Rigorous semiconductor
manufacturing disciplines

Strong Customer &Supplier PartnershipTechnology Leadershipn Tier 1 customer base withGlobal presencen Technical collaboration
with customers & suppliersn Leverage PV device physics &semiconductor process technology
n High conversion efficiency
n New product development

l Company and Business Overview
l Operation Highlightsl Financial PerformanceShipment (MW)Outstanding Shipment Trend
500
450400350300250200150100500

NSP Shipment Trend

500+

2007-2010(E) CAGR: 148.4%350
20110235.9
2007

2008

NSP Shipmwt Growth (YoY)
Global Market Demand Growth (YoY)** Source: EPIA

2009
2008
184%
131%

1Q-3Q10
2009
96%
22%

2010(E)
150%
78%

n NSP maintains a high shipment growth and consistently outpaces theglobal market growth by over 100% since 2009n Cell shipment targeted at over 500MW for 2010

Expanding Global Market Share
14000
12000
Unit: MW10000

NSP Global Market ShareNSP Shipment (MW)Global Demand(MW)NSP Global Market Share

4.00%
2007-2010(E) CAGR: 40.8%

2.74%
8000
1.70%

6000
1.38%
4000
2000
35.9 2600

102 6000

200 7300

500 +13000

20072008

2009

2010(E)

05.00%
4.50%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%

* Source: EPIAn Increasing production output and expanding customer base resulted in greater market share

Aggressive Capacity Expansion

1500

Capacity (MW)

FAB 1
1000

FAB 2

FAB 3

1.2+ GW

400

2007-2011(E) CAGR: 111.5%

800 MW

500

700

700

210 MW

240 MW

60

120
90

140
100

1001002007200820092010

2011(E)

0NSP Technology Roadmap

nn

Leveraging PV devices & semiconductor processes to create technology differentiation andcompetitiveness on cost & quality
Current Patent status: 9 granted and 12 pendingTechnology Development Strategy

17 NSP ProprietarynContinuous cell efficiency
improvementn

Process optimizationn

New technology & materialdevelopmentnReliability as centerpiecenDrive for grid parity

Environment, Safety & Healthn

Excellent safety recordnISO 9001, 14001, OHSAS 18001 certified by TUVn

All products RoHS compliantn

Greenhouse gas emissions verification (on-going)n

Product carbon footprint verification (on-going)

18 NSP Proprietary

NSP Market Strategynnnnn

Strengthen NSP brand of high quality and superior performance
Continue to expand customer base in Europe and Asia
Scale up the business in North America and Japan
Manage a balanced global presence by partnering with leading PV
powerhouses
Identify and cultivate new stars

l Company and Business Overview
l Operation Highlightsl Financial Performance

Highlights for 1Q-3Q10Strong Revenue Growth• 3Q10 revenues up 31% from 2Q10, up 88% YOY• 1Q-3Q10 revenues NT$13.36 billion (US$440 Mil.), up 92% YOY• Monthly revenues consecutively achieve record highs since April

Outstanding Profit and Gross Margin• Gross margin of 22.8% for 3Q10, up from 17.4% in 2Q10
• Net income of NT$1.96 billion (US$65 mil.) for 1Q-3Q10,up from NT$699 million (US$23 mil.) loss in 1Q-3Q09• EPS of NT$8.95 for 1Q-3Q10, a close second among Taiwan-based cell makersSolid Financial structure• Debt to asset ratio 36.97% in 1Q-3Q10, lower from 52.68% in 1H10
• Cash and cash equivalent NT$6.9 billion (US$227 mil.) for 1Q-3Q10,
up from NT$3.1 billion (US$102 mil.) in 1H10
• Operating cash flow NT$1.18 billion (US$39 mil.) in 3Q10,
totaled NT$1.94 billion (US$ 65 mil.) for 1Q-3Q10$1 USD=$30.33 NTD as of Nov. 17, 2010

Income Statements

NTD$ Million

2007

2008

2009

1Q-3Q09

1Q-3Q10

3,662

10,176

10,301

6,954

13,362Gross Income (Loss)

587

839

28-447

2,577

Operating Income (Loss)

504

524

-268

-659

1,968

Net Profits (Loss)

548

831

-1139

-699

1,956

EPS (NT$/shares)

5.98

5.52-5.99

-3.82

8.95

Revenue, Net$1 USD=$30.33 NTD as of Nov. 17, 2010

Balance Sheet Summary

NTD$ Million

2007

2008

2009

1Q10

2Q10

3Q10

596

1,149

3,995

3,870

3,440

6,942

Current Assets

2,239

5,902

6,119

6,707

7,282

11,477

Total Assets

4,086

10,964

11,698

12,77015,03019,944Current Liabilities

1,454

1,706

2,741

3,403

4,718

6,300

Total Liabilities

1,454

5,458

6,000

6,773

7,966

7,373

Total Shareholders' Equity

2,632

5,507

5,683

5,978

7,064

12,571

Cash & Cash Equivalent$1 USD=$30.33 NTD as of Nov. 17, 2010

Revenues Trend

16000

10,176
10,301(USD 336) (USD 339)

12000
10000

4000

NT$ Million(USD$ Million)

2,190 (72)
2,113 (70)2,004 (66)1,764 (58)1,635 (54)1,489 (49)
1,350 (44)1,131 (37)

1,500
1,000

3,662
(USD 121)Monthly Revenues (FY 2010)

2,500
2,000

6,954(USD 229)

8000
6000

2%

2007-2009 CAGR: 67.7%

13,368(USD 441)YOY:
9

NT$ Million (USD$ Million)

14000

Net Revenues

975 (32)902 (29)

500

2000

002007

2008

2009

1Q-3Q09 1Q-3Q10

JanFebMarAprMayJunn Monthly revenues continue to hit historical high since April 2010
$1 USD=$30.33 NTD as of Nov. 17, 2010

JulAugSep

Oct

Profit and EPS Trend
EPS (NT$/shares)

1,964(USD 65)

NT$ Million (USD$ Million)

Net Income

5.98

8.95

6.12

1700
1200
700

548(USD 18)

831(USD 27)-1,139(USD -38)

200-300

2007

2008

2009

-5.99
1Q-3Q10

2007

2008

2009

1Q-3Q10-800-1300

n NSP reported an impressive EPS of NT$8.95 for 1Q-3Q10, a close second among Taiwan-based cellmanufacturers$1 USD=$30.33 NTD as of Nov. 17, 2010

Quarterly Margin Trend
Quarterly Gross Margin

30%
25%

22.80%

20%
15%

14.30%

15.80%

4Q09

1Q10

17.40%

9.60%

10%
5%
0%
3Q09

2Q10

3Q10

n Steady growth in gross margin was attributed to the expanding economies of scale and high efficiency

cellsRevenues by Region

60%

EuropeAsia (Excluding Japan)

North America & Japan

50%
40%

49% 49%

48%

48%

46%

47%

30%
20%
10%

7%

4%2%0%
2008

2009

1Q-3Q10n Very strong customer base in Europe and Asian Secured major customers in North America and Japan in 2010
n Global presence with calculated regional participation

Financial Ratio

Items
Cash & Cash Equivalent
Shareholders’ Equity
Debt to Asset Ratio
ROAROEFY 2009
NT$4.1 billion
NT$5.7 billion
47.42%-8.40%-20.36%

1Q-3Q10
NT$6.9 billion
NT$12.6 billion
36.97%
9.81%
15.56%n NSP has strong cash position of NT$6.9 billion (US$227mil.) up to the end of 3Q10, top among

Taiwan-based cell manufacturers
n NSP continues to grow with solid financial structure while maintaining relatively low debt ratio

and upholding highest cash position$1 USD=$30.33 NTD as of Nov. 17, 2010

Investment Highlights
nnnnnnnnn

World-class solar cells with high performance and high quality
First solar cell manufacturer in Taiwan that applies semiconductor
management to solar industry
Comprehensive technical expertise including silicon materials, wafers, solarcells, device designs and modules to continually drive down costs
Proprietary process technology backed by strong research and development
capability
Superior conversion efficiency and economies of scale help NSP to become
one of the lowest cost cell makers in the worldExceptional growth history and considerable potential in sales and profit
Name brand recognition by worldwide customers
Solid financial structure with low debt ratio and strong cash position
Experienced management team from the semiconductor industry

Top Line Guidancen

1Q-3Q total shipment is 350MW, 180% increase from same period in2009

nShipment & Capacityn 2010 expected shipment: over 500MW
n2010 expansion : added 560MW in Fab 2l Total Capex: NT$4.1 billion (US$135 mil.)n2011 expansion : to add 400MW in Fab 3
l Total Capex: NT$5.0 billion (US$165 mil.)$1 USD=$30.33 NTD as of Nov. 17, 2010

Neo Solar Power Corp.

– Quantum Leap to Gigawatt –Thank You
Neo Solar Power Corp.
No. 7, Li-Hsin 3rd Rd. , Hsinchu Science Park , Hsinchu , Taiwan
Tel: +886.3.5780011 Fax: +886.3.5781255
www.neosolarpower.com