SolarEdge Technologies : Quarter Ended March 31, 2021 Slides

First Quarter 2021

Earnings Summary

May 3, 2021

Safe Harbor

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: the expected impact of the COVID-19 pandemic and related public health measures on our business, results of operations, financial condition and liquidity; our possible or assumed future results of operations; future demands for solar energy solutions; business strategies; technology developments; new products and services; 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 on Form 10-K and our quarterly reports on Form 10-Q, noting that many of the risks, uncertainties and other factors identified therein are, and will be, amplified by the COVID-19 pandemic. .

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.

This presentation describes non-GAAP revenues, gross margin, operating expenses, operating income, net income and non-GAAP net diluted earnings per share, which are not measures prepared in accordance with U.S. GAAP (i.e. "Non-GAAP" measures). The Non-GAAP measures are presented in this presentation as we believe that they provide investors with a means of evaluating and understanding how SolarEdge's management evaluates the company's operating performance. These Non-GAAP measures should not be considered in isolation from, as substitutes for, or superior to financial measures prepared in accordance with U.S. GAAP.

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First Quarter Key Metrics

	182K
	Inverters Shipped		1.69 GW
3.7M			Systems Shipped
Power Optimizers

Shipped
$405.5M
	Revenues GAAP

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Financial Results for Quarter

GAAP Revenue of $405.5 million

Revenue from solar products of $376.4 million

Total cash and investments, net of debt, $515.2 million GAAP gross margin of 34.5%

Non-GAAP gross margin of 36.5%

Record Non-GAAP gross margin from sales of solar products 39 GAAP operating income of $44.1 million

Non-GAAP operating income of $71.9 million GAAP net income of $30.1 million Non-GAAP net income of $55.5 million GAAP net diluted earnings per share of $0.55

Non-GAAP net diluted earnings per share of $0.98 Cash flow from operation of $24.1 million

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Noteworthy

Quarter over quarter revenue growth with record revenues in Australia, Italy and France

Continued growth in residential shipments in all geographies, including record residential revenues in the Netherlands and Australia

Initial signs of recovery in commercial, with quarter over quarter megawatts and revenue increase across all regions, following three consecutive quarters of decline in shipments

Residential battery on track for first deliveries in second quarter of 2021 Rollout of 120kw inverter with Synergy technology underway

Full powertrain kits delivered to Stellantis (formerly Fiat Chrysler Automobiles) for E-Ducato light commercial vehicle

Managing supply chain challenges in order to meet growth in demand

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