ReneSola : Power Environmental, Social and Governance (ESG) Report 2021

Green energy solutions to power our world

Disclaimer:

This document is a work-in-progress, subject to changes and intended to be viewed as a reference only

SAFE HARBOR STATEMENT

This presentation may contain forward-looking statements, and management may make additional forward-looking statements in response to your questions. These statements are made under the ''safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes,"

"estimates," "confident," and similar language. Statements that are not

historical facts, including statements concerning our beliefs, forecasts, estimates, and expectations, are forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks relating to operations that may fluctuate from period to period; PRC-governmental policy changes; intense competition from other solar companies; PRC economic, political, and social conditions as well as government policies that may affect our business. Other risks are outlined in our public filings with the Securities and Exchange Commission, including our annual report (Form 20-F).

The forward-looking statements made in this presentation relate only to events or information as on the date when the statements were made. Except as required by law, we undertake no obligation to publicly update or revise any forward-lookingstatements-whether due to new information, future events, or otherwise-after the date when the statements are made, or to reflect the occurrence of unanticipated events.

ABOUT THIS REPORT

Overview

Our first Sustainability Report aims to enhance transparency by communicating our sustainability efforts to a vast network of stakeholders including our suppliers, vendors, clients, and other interested parties. It also serves as a tool to disclose our achievements against the UN Sustainable Development Goals (SDGs), and Global Reporting Initiative (GRI) framework "Referenced" to highlight ways to create greater environmental, social, and governance (ESG) values.

Reporting Period, Scope & Standards

This report summarizes our ESG performance and activities during the period of 2020 and 2021. It covers the ESG activities of all ReneSola Power operations across our headquarters in Stamford, Connecticut and professional teams in 10 countries. All figures are for 2021 unless stated otherwise.

Contact Information

For any inquiries, please contact our Investment Relations Department: [e-mail]

www.renesolapower.com

2

Table Of Contents

Introduction

CEO Letter	04
About ReneSola Power	05
History Development	06
Services & Products	07
2021 Data Highlights	08

Sustainability

Sustainability Strategy	11
Sustainable Development Goals (SDGs)	12
Importance of Sustainability	13
Areas of Action	15
Stakeholder Engagement	16
Materiality Assessment & Process	17
Situational Assessment	19

Governance

Our Board Of Directors	21
Structure & Framework	22
ESG Oversight	23

Management Approach	24
Operational Compliance	25
Ethics	28
Cybersecurity & Data Privacy	29

Environment

Energy	32
Emissions	33
Waste	35
Biodiversity	36
Supply Chain	37

Social

Covid-19 Response	39
Health & Safety	40
Diversity & Inclusion	41
Community Investing	46
Participation & Membership	50
Appendix (GRI Content Index)	52

www.renesolapower.com	3

Introduction	Sustainability	Governance

Letter From Our

CHIEF EXECUTIVE OFFICER

At ReneSola Power, we take pride in our mission of providing clean, low-carbon, sustainable energy solutions that combat climate change. The years 2020 and 2021 had unprecedented, global challenges for ReneSola Power. The novel COVID-19 virus changed everyday life for our employees, customers, and communities. As we enter the Decade of Action, our commitment to achieving the United Nations Sustainable Development Goals (SDGs) remains steadfast.

Sustainability

Our role to shape the future of sustainability is one we take seriously. Now more than ever, addressing the climate crisis is of paramount concern. We must build a sustainable, equitable world for future generations. This report reflects our commitment to achieving these goals. I am proud to see the progress we have made in environmental stewardship, social solidarity, and corporate governance.

Moving forward, we are focused on two key objectives: global energy sustainability and building on our ESG targets. In tandem, we commit to approaching our financial policies with sustainability in mind, and transparently disclosing relevant risks and opportunities. We have aligned our ESG strategies with the UN SDGs. Sustainability is an essential aspect of our strategic thinking, business development, and long-term value creation, as showcased in our first Sustainability Report.

Business and Operational Growth

Throughout 2021, we executed operations where we progressed on our mission to become the leading global solar project.

Environment	Social	Appendix

2021 Highlights

• We accelerated business growth with full-year revenue up 8% year-over-year to $79.7 million and GAAP net income per American Depository Share (ADS) at $0.10 per ADS, up 77% from 2020.
• We significantly strengthened our financial position and balance sheet by raising $290 million in a follow-onequity offering (January 2021) and reducing debt throughout the year.
• We increased our project development business' mid-to-late-stage project pipeline from 1 GW to 2.2 GW, 10% higher than our original target of 2.0 GW.
• We sold a total of 128 MW of solar projects in 2021. This included multiple projects in the USA, Poland, Spain, and Hungary.
• In Q4 2021, we repurchased approximately $18 million (approximately 3 million ADS, or 4%) of our total ADS outstanding.

Since our strategic restructuring in September 2017, we have transitioned to a pure downstream player with a focus on developmental projects globally. We take pride in developing and operating small-scale utility and community solar projects with high Feed-in Tariffs (FiT). Owning and operating commercial projects with a high internal rate of return (IRR) allows us to invest time in projects we truly care about.

As always, we strive to maintain a corporate culture that reflects our values. I look forward to your continued support as we embark on this collective effort to transform the future of our planet.

Yumin Liu

CEO, Member, Board of Directors, ReneSola Power

www.renesolapower.com	4

Introduction

Sustainability

Governance

Environment

Social

Appendix

ABOUT RENESOLA POWER

Our Operational Footprint

ReneSola Power targets several countries and regions that have a rapidly growing market for solar power projects. Improved clarity in government policies indicates that this growth is likely to continue. We have built local professional teams in 10 such countries around the world, including the USA, Poland, U.K., Hungary, Spain, France, Germany, Italy, and China, and are actively pursuing opportunities in emerging markets in Europe, including the Czech Republic.

Our Projects

ReneSola Power develops clean and renewable energy for utilities, and commercial, industrial, and residential consumers. We deliver innovative and reliable solar and battery assets to long-term institutional investors and International Power Producers (IPPs). Our project development process includes site selection, solar resources and grid analysis, battery solution development, engineering design and system optimization, grid interconnection, permitting, and power purchase agreement (PPA) sourcing.

Our Clients

We sell our developed projects or Special Purpose Vehicles (SPVs) mainly to purchasers who include large utility companies, other IPPs, and global investors (asset management funds, pension funds, and tax equity investors). Our community solar gardens are solutions for government entities, municipalities, schools, hospitals, residential customers, and people searching to decrease electricity costs. We continue to focus on profitable markets, including the USA and Europe, where we see tremendous opportunities for high-quality projects and growth.

120,000

Metric Tons of Carbon Reduction in 2021

From

~880 MW

Projects developed

Equivalent to a Production 1,300,000 MWh of Power Annually

Power Generated Equivalent to

Greenhouse gas		CO2 emissions from ~90		Carbon sequestered by
emissions from ~2.3		Million gallons of		~1.1 Million acres of U.S.
Billion Miles driven by an		gasoline consumed		forests in one year
average passenger vehicle

www.renesolapower.com	5