Third Quarter 2012Review and Update

December 11, 2012

The market and industry information contained in this presentation has not been independently verified. No representation or warranty, whether express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions con-tained herein. Neither Hanwha SolarOne Co., Ltd, or the Company, nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this pre-sentation.

This presentation contains statements that reflect the Company’s beliefs and expectations about the fu-ture. These forward-looking statements are based on a number of assumptions about the Company’s operations, and are subject to risks, uncertainties and other important factors, many of which are be-yond the Company’s control, and, accordingly, actual results may differ materially from the results dis-cussed in these forward-looking statements.

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2

Safe Harbor Statement

Categories Third Quarter 2012

Shipments (MW) 239.5 (+3.8%) q/q

Revenue (US$ mil) 153.7 (-9.9%) q/q

Gross Margin (%) -5.8%

NON-GAAP Earnings per Basic ADS 1 ($0.57)

GAAP Earnings per Basic ADS ($0.61)

3

Note:

1 All non-GAAP numbers exclude the accounting impact from the adoption of ASC 815-40, which relates to the accounting treatment for the convertible bonds. Non-GAAP financial results for prior quarters have been adjusted for comparability with the current quarter.

Financial Highlights of 3Q 2012

Note: 1 3Q11 and 4Q11 exclude non-cash provisions2 All non-GAAP numbers exclude the accounting impact from the adoption of ASC 815-40, which relates to the accounting treatment for the convertible

bonds. Non-GAAP financial results for prior quarters have been adjusted for comparability with the current quarter.

4

Financial Trends

0

100

200

300

3Q11 4Q11 1Q12 2Q12 3Q12

225.4

155.4127.7

168.7 153.7

US$

m

Revenues

(2.25)

(1.50)

(0.75)

0.00

3Q11 4Q11 1Q12 2Q12 3Q12

(0.55)

(1.62)

(0.51) (0.46) (0.57)

%

Non-GAAP Net Income / Basic ADS2

050

100150200250

3Q11 4Q11 1Q12 2Q12 3Q12

200.9 189.1160.7

230.7 239.5

MW

Module Shipment

(30.0)

(20.0)

(10.0)

0.0

10.0

3Q11 4Q11 1Q12 2Q12 3Q12

2.8

(20.1)

(9.4)

6.3

(5.8)%

Gross Margin1

• Germany is the largest (39%) but fell significantly due to July 1 incentive reductions

• Asia Pacific region continued to grow and accounted for 22% of total shipments

• US growth regained momentum to 13% of total shipments

5

Module Revenue by Shipping Destination

Geographic distribution

Germany57%

UK 5%

Italy4%

Spain4%

Australia3%

Korea/China/

Japan 7%

USA7%

Others13%

2Q 2012

Germany, 39%

USA, 13%

Korea; 6%

China; 11%

Italy; 6%

Bel-gium, 5%

Hol-land; 5%

Others, 15%

3Q 2012

Notes: 1 Excluding module processing business and non-cash provisions totaling $0.45 in 4Q112 On Non-GAAP basis which excludes the impact related to the convertible bond fair value adjustment3 4Q11 operating expenses includes $8.5 million provision for advanced payment associated with long-term supply contract ; 2Q11 operating expenses

includes $5 million for management severance. 6

Cost Structure

0

0.5

1

1.5

3Q11 4Q11 1Q12 2Q12 3Q12

1.351.16

0.920.72 0.71

US$

/WBlended COGS Per Watt1

0

0.05

0.1

3Q11 4Q11 1Q12 2Q12 3Q12

0.040.05

0.07

0.03

0.05

US$

/W

Interest Expense Per Watt2

0

15

30

45

3Q11 4Q11 1Q12 2Q12 3Q12

12

40.9

18.114

20.2

%

Operating Expenses as % of Revenue3

0

0.5

1

1.5

3Q11 4Q11 1Q12 2Q12 3Q12

1.13 1.030.78 0.71 0.67

US$

/W

Production Cost Using Internal Wafers

Notes: 1 Excludes restricted cash.2 All non-GAAP numbers exclude the accounting impact from the adoption of ASC 815-40, which relates to the accounting treatment for the convertible

bonds. Non-GAAP financial results for prior quarters have been adjusted for comparability with the current quarter. 7

Balance Sheet

0

50

100

150

3Q11 4Q11 1Q12 2Q12 3Q12

80 82 83 77

126

Days

Days Sales Outstanding

0

20

40

60

80

3Q11 4Q11 1Q12 2Q12 3Q12

5953

6960 63

Days

Days Inventory Outstanding

• Total Cash of US $256 million

• Net debt to equity of 89.3%

• New president and chief technology officer appointed

8

Recent Milestones

• Continued Non-Poly processing cost reduction

• Shipments to China and US gaining momentum

• QoQ shipment growth

• Synergies with Hanwha Q.CELLS begin

• A number of company failures reduce manufacturing capacity

9

Signs of Industry Rationalization

• Signs that leading competitors will take a more rational approach to pricing and sacrifice volume for profitability

• Momentum developing in important new growth markets, particularly China and Japan

• Chinese banks tightening credit standards squeezing out marginal players

10

Q.CELLS Acquisition Provides Synergies

• Enhanced scale with combined capacity of 2.3GW

• Strong brand, high quality products and excellent technology

• Potential to price at a premium

• Improved leverage with suppliers

• Expertise in downstream activities and an important source of cells in the face of duties in the US and maybe Europe

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Three Paths to Growth

Volume Based Growth

• Targeting the utility industry for higher sales volume

Economies of scale leading to better bargaining power & cost competitiveness

Value Based Growth

• Traditional PV products are quickly becoming low-cost commodities. We will achieve growth by selling higher value products to residential and commercial markets with a strong brand.

Downstream Growth

• Create value downstream by bundling balance of system components, reach customers through a variety of channels and expand our project development, EPC and O&M business.

12

New Product launching

Anti PID

Development Item Description

Extreme Environ-ment

Higher Efficiency

• New product (E-Star plus) will be launched in 2013 - Light weight, high endurance, maximized efficiency

- Cost competitiveness via increased power output per module

• Anti PID product will be launched in 2013 - Completed TUV certificate

- Develop optimized BOM for Anti PID module for long-term reliability

• Anti-salt module : Sales of modules suitable for sea shore started - Supplied to Japan. Total of 80MW will be supplied to Marubeni project

• Desert module : Under development for Middle East market

• High efficiency wafer (Better wafer) development

• Increase module output by wafer sorting improvement

R&D for high quality/high performance

13

New Market Potential

• Market could reach 8GW in 2013

• HSOL sets conservative shipment target of 150MW in 2013

• Estimated market size of over 3GW in 2013

• HSOL estimates shipments at 100MW+ in 2013Japan Market

China Market

South Africa Market

• Signed 155MW deal for 1H 2013 delivery

• The company’s and South Africa’s largest solar deal to date

USA Market• Estimated market size of 4GW in 2013

• 2013 HSOL estimated shipments can more than triple to 250MW or higher.

14

Market Guidance

FY

2012

Shipments

Non-poly Processing Cost by yr.-end

825~850MW

<$0.50W

Capital Expenditure$100 million

Thank You