On December 6, 2024, First Solar entered into two Tax Credit Transfer Agreements with Visa Inc. The first agreement, a Fixed Transfer Agreement, involves the sale of $645M in advanced manufacturing production tax credits for $615.98M, payable in two installments: $400M on December 6, 2024, and $215.98M due on December 30, 2024.The second agreement, a Variable Transfer Agreement, allows for the sale of up to an additional $225M in tax credits. The purchase price for these credits is set at $0.955 per $1.00 of transferred credits, with payment due on February 28, 2025. The final amount of tax credits to be sold under this agreement will be determined by First Solar at a later date.These tax credits are generated from the production and sale of certain module components in the United States during 2024, as per Section 45X of the Internal Revenue Code. Both agreements are subject to customary conditions, including the absence of default by First Solar and the accuracy of its representations and warranties.

On December 6, 2024, First Solar entered into two Tax Credit Transfer Agreements with Visa Inc. The first agreement, a Fixed Transfer Agreement, involves the sale of $645M in advanced manufacturing production tax credits for $615.98M, payable in two installments: $400M on December 6, 2024, and $215.98M due on December 30, 2024.The second agreement, a Variable Transfer Agreement, allows for the sale of up to an additional $225M in tax credits. The purchase price for these credits is set at $0.955 per $1.00 of transferred credits, with payment due on February 28, 2025. The final amount of tax credits to be sold under this agreement will be determined by First Solar at a later date.These tax credits are generated from the production and sale of certain module components in the United States during 2024, as per Section 45X of the Internal Revenue Code. Both agreements are subject to customary conditions, including the absence of default by First Solar and the accuracy of its representations and warranties.