First Solar, Inc.

Filing receipts

“The following table shows research and development expense for the three months ended March 31, 2026 and 2025: Three Months Ended March 31, (Dollars in thousands) 2026 2025 Three Month Change Research and development $ 66,944 $ 52,389 $ 14,555 27.8 % % of net sales 6.4 % 6.2 % Research and development expense for the three months ended March 31, 2026 increased compared to the three months ended March 31, 2025 primarily due to (i) higher costs related to spare parts purchases as well as higher depreciation expense resulting from our continued investments in R&D facilities and equipment, (ii) higher employee compensation expense resulting from an increase in headcount , and (iii) higher utili...”

“The following table shows selling, general and administrative expense for the three months ended March 31, 2026 and 2025: Three Months Ended March 31, (Dollars in thousands) 2026 2025 Three Month Change Selling, general and administrative $ 65,331 $ 53,164 $ 12,167 22.9 % % of net sales 6.3 % 6.3 % Selling, general and administrative expense for the three months ended March 31, 2026 increased compared to the three months ended March 31, 2025 primarily due to purchases of renewable energy credits related to our commitment to responsible solar manufacturing.”

“This increase was partially offset by (iii) a higher volume of modules sold qualifying for the advanced manufacturing production credit under Section 45X of the IRC, which decreased cost of sales by $117.9 million; (iv) decreased logistics costs of $38.5 million, which included lower detention and demurrage charges; and (v) module cost reductions, which decreased cost of sales by $33.3 million.”