The document provides an investor overview of SPI Energy Co., Ltd., a solar energy company that operates solar project development, electricity production, residential solar solutions, and solar industry investments businesses around the world. It outlines SPI's business segments and assets, financial information, management team, and presents SPI as an undervalued investment opportunity in the growing solar industry given its large portfolio of solar assets.

1. SPI Energy Co., Ltd.
(NASDAQ GS: SPI)
Investor Overview// July 2020
Spigroups.com

2. This presentation contains certain “forward-looking statements” relating to the business
of the Company, its subsidiaries and the industries the Company operates in. Such
forward-looking statements can be identified by the use of forward-looking terminology
such as “believes”, “expects” or similar expressions. The forward-looking statements
contained in this presentation include statements regarding the Company’s ability to
execute its growth plan and meet revenue and sales estimates, and market acceptance
of its products and services. These statements involve known and unknown risks and
uncertainties, including, but not limited to, general business conditions, managing
growth, and political, regulatory and other risks. All forward-looking statements are
expressly qualified in their entirety by this Cautionary Statement and the risks and other
factors detailed in the Company's reports filed with the U.S. Securities and Exchange
Commission. The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities law.
FORWARD-LOOKING STATEMENTS

3. Key Stats
(as of July 9, 2020)
Recent Price $1.20
Market Cap $17.53M
Shares Outstanding 14.61M
Float 6.82M
Ave. Volume (90-day) 663,758

4. Company Overview
SPI Energy has been a leading solar project developer, delivering competitive,
clean energy solutions to customers across the world for over 15 years.
• Operates in four business segments
 Develops & builds Solar Projects such as solar farms and sells those
projects for a substantial profit
 Solar electricity Production
 Sells Solar module & battery systems to residential and commercial
customers
 Solar Industry Related Investments
• Owns 43+ MW global portfolio with stable cash flow
• Building 40+MW portfolio in USA & Japan with ongoing financial
relationships with BlackRock, AES, Kyocera, etc.

5. Value Proposition
SPI Energy is a solar company with a 15-year
history trading at less than 1/5th of Revenue (ttm)
(fiscal 2019 $97.9M).
With assets valued at nearly $200M and a current
market cap of less than $20M, the stock is trading
well below peer group multiples.
The Company has shown significant improvement
with decreasing losses year-over-year with a trend
towards near-term profitability.

6. 6
$114.60
$121.50
$125.60
$97.88
$0
$20
$40
$60
$80
$100
$120
$140
2016 2017 2018 2019
Fiscal Year
Revenue (in Millions)

7. Business Segments
Solar Related Investments
Solar Electricity Production
Residential Solar Solution

8. Business Model
2. Solar Electricity Production (IPPs)
• Large solar assets portfolio in Greece, Italy, and UK.
• Over $100M investment in the portfolio of Global Solar projects which generate stable income for up
to 20 years
• Expect to Spin – off IPO
4. Solar Industry Related Investments
• Strategic Investments in Solar related industries, such as Agriculture and other high-electricity
consumed industries to enhance long-term profitability
1. Solar Project Development
• Strong Profitability with Solar development portfolio ongoing in Hawaii, Oregon & Japan
• Establishing more opportunities in the United States
3. Residential Solar Solution
• Solarjuice, one of the leading wholesale distributors of solar panels and storage in Australia and
Asia Pacific
• Building manufacturing facility in United States to deliver MADE IN USA Panel and Storage
products

9. Solar Development Portfolio - BT (Build & Transfer)
Data Collection &
Opportunity Assessment
Strategy & Detail, and
Planning & Development
Financing &
Construction
Operation & Transfer

10. Solar Development Portfolio - (Oregon)
• 18MW-DC portfolio in Greater Portland Area.
• Projects have been submitted to the State of Oregon
Community Solar Program in Portland General Electric
(PGE) Territory.
• Community Solar allows homeowners and businesses to
subscribe to an offsite solar farm for their electricity.
• Creates demand for developers like SPI to build solar
farms at utility rates and sell at commercial utility rates,
allowing for a high margin business.
Community Solar

11. Solar Development Portfolio - (Hawaii)
Hawaii Tranche 1 projects (Total 6.9MW)
• Completes the sales of 5 projects in Oahu
Island, with total 3.3MW
Hawaii Tranche II projects (Total 4.7MW)
• Continues to provide positive cashflow
• PV System Completed
• Substation construction being finalized
• Substation completion expected in Q2 2020
Hawaii Tranche III projects (Total 10.27MW)
• Latest system size from 9.4MW to 10.27MW.
• Final completion in Q4 2021
• More potential to increase to 10.27 MW
system size

12. Previous Development Experience
0.71MW in Sacramento, CA 0.51MW in Los Angeles, CA 0.53MW in New Jersey, NJ
6.35MW in Japan 47.73MW in UK 5.88MW in Italy

13. Solar Electricity Production Business (IPPs)-
Orange Power
Independent Power
Producer (IPP)
Sell energy
Sell energy
Power Grid
Solar Electricity Production
 Over $100m investment in Greece, Italy, and UK
 Expected to generate stable operating cash flows per year
 43 MW capacity internationally
 SPI Orange Power Plans to Spin-off IPO

14. Current Structure
Sinsin Renewable
Investment Ltd.
(Malta)
Photovoltaica
Parka Veroia 1
Malta Ltd.
Photovoltaica
Parka
Veroia 1 AE
Solar Power Inc.
UK Services Ltd.
Emotion Energy
Solar One Ltd.
Cairnhill Solarfield
Ltd.
Italsolar S.r.l.
Veltimo Ltd
(Cyprus)
Orion Energy SA
Astraios Energy
SA
Jasper PV
Makedonia SA
Thermi Sun SA
Heliohrisi SA
Heliostixio SA
SP Orange Power
(Cyprus)
SP Orange Power
(HK) Limited
SPI Energy
(Cayman)
SPI Solar Inc.
Greece Italy UK
Solar Electricity Production Business (IPPs)-
Orange Power – Current Structure Solar Electricity Production

15. Proposed Listing Structure
Sinsin Renewable
Investment Ltd.
(Malta)
Photovoltaica
Parka Veroia 1
Malta Ltd.
Photovoltaica
Parka
Veroia 1 AE
Solar Power Inc.
UK Services Ltd.
Emotion Energy
Solar One Ltd.
Cairnhill Solarfield
Ltd.
Italsolar S.r.l.
Veltimo Ltd
(Cyprus)
Orion Energy SA
Astraios Energy
SA
Jasper PV
Makedonia SA
Thermi Sun SA
Heliohrisi SA
Heliostixio SA
SP Orange Power
(Cyprus)
SP Orange Power
(Cayman)
SPI Energy
(Cayman)
Greece Italy UK
Solar Electricity Production Business (IPPs)-
Orange Power- Proposed Listing Structure Solar Electricity Production

16. Solar Electricity Production Business (IPPs)-
Orange Power
Country Project name
Gross capacity
(MW)
Connection date FIT terms
Greece
Sinsin Renewable
Investment Limited
26.6
February to
October 2013
EUR0.14-
0.38/kWh1
Heliostixio SA 1.082 Jul-2012 EUR0.215/kWh
Heliohrisi SA 1.988 Jul-2012 EUR0.215/kWh
Thermi Sun SA 4.4 Jul-2012 EUR0.215/kWh
Total 34.07
* Sinsin Renewable has been deconsolidated because of the arbitration of 360MW EPC contracts failing to be
awarded to SPI by Sinsin. There is a claim by SPI against Sinsin Renewable.
Solar Electricity Production

17. Solar Electricity Production Business (IPPs)-
Orange Power
Country Project name
Gross capacity
(MW)
Location Connection date FIT terms
UK
Cairnhill Solarfield 3.09 Turiff Feb-2016 1.3 ROCs
Thompson 4.97 Standish, Wigan Mar-2016 1.3 ROCs
Subtotal 8.06
Italy
SunRoof I 0.48 Aprilia (Giardini)
Dec-2009
EUR0.22-
0.35/kWhItalsolar 0.99 Laterza
Subtotal 1.47
Global Total 43.6
Solar Electricity Production

18. One of the largest providers of solar and clean energy products and solutions in the Pacific
region:
 Gained significant market share in Australia since launch in 2009
 5,000+ B2B accounts since established and 700 active customers ordering monthly
 Delivered 600+ MW Panels, 1400+MW Inverters, and 40+MW Batteries
* Pending Lawsuit against certain minority stockholders of our 80% owned subsidiary in Australia
SolarJuice Business
Residential Solar Solution

19. SolarJuice Business
Residential Solar Solution

20. Solar Industry Related Investments
Umining Business
 Multiple locations at Milwaukee
and Canada
 Plan to develope Solar project
Nearby or cooperate with local
Electricity company to lower the
electricity cost
Solar Related Investments
OpalStorage Business
 An advanced Battery Energy
Storage System (BESS+)
 Unique design includes not only the
battery, BMS and inverter in the
cabinet
 Investment in Ensync and have JV
manufacturing facility at Wuhu,
Anhui, China
1 2 Cooperation and
sourcing in ChinaFactory re-operation

21. Solar Industry Related Investments
CBD & Hemp Business
 Started test-round production of
CBD Crude OIl in Q1 2020 at the
facility of over 250,000 SQFT on
25 Acres land at Orange Cove, CA
 Plan to build Solar project onsite
to lower the electricity cost
Alfalfa Business
 US Department of Agriculture
approved Export license
 Solid customer base, including
strategic partnerships with large
dairy companies in Asia
 Plan to build 5MW Solar project
onsite to enhance profitability
Solar Related Investments
 JollyFarming Inc. is the Agriculture
Business Unit of the company
 Processing plants with state of art
equipment in Arizona and Central
California
 In Private capital raising, expect to
spin-off IPO

22. Accomplished Management Team
Hoong Khoeng Cheong
Chief Operating Officer
& Director
 Ex-Chairman of the
Management Board and Chief
Executive Officer of a publicly-
listed company
 30 years of engineering and
operation experience in the
solar and electronics industries
 Master of Science in computer
integrated manufacturing from
Nanyang Technological
University, Singapore
Denton Peng
Chairman & CEO
 Founded LDK in 2005 and was the
chairman of the board and its CEO
till 2014
 Graduated from Beijing University
Guanghua School of Management
with an executive MBA degree
Jack Lee (Singapore)
Vice President of Global Project
Development
 Jack has vast experience in
various industries especially in
electrical and infrastructure for
the last 25 years.
 Experienced manager in energy,
industry infrastructure
project/maintenance and solar
PV construction.
 Well-versed in project
transaction with numerous
successful deals and project
financing in Southeast Asia, the
UK and the US.

23. Accomplished Management Team
Vassilis Orfanos (Greece)
Vice President of European
Assets Management
October 1996 - August 2011, Technical
Consultant of the Chairman and
Maintenance Manager at Th. Vassilakis
Group of companies (AEGEAN Airlines,
HERTZ, SEAT, SAAB, OPEL, FORD).
 January 2012 - today, Construction
Manager and Operation Manager of
SPI in Greece, managing 34MWp
solar projects
Jacky Ju (Hong Kong)
Vice President of Corporate
Development & Assistant to Chairman
 Jacky Ju was graduated from
Shanghai Jiao Tong University.
 He has 10 Years Experience in
investment bank and advisory
firms at AMTD Group and E&Y
and PwC.
 He specialize in M&A, investment,
business and consulting in
business transformation, change
management, operation strategy
and management etc.

24. Historical Income Statements
Consolidated Statements of Operations Data
2016 2017 2018 2019
($ in thousands, except share and per share data)
Revenue 114,602 121,520 125,582 97,883
Total cost 102,532 111,428 114,525 90,693
Gross profit 12,070 10,092 11,057 7,190
Total operating expenses 103,670 19,371 14,009 26,361
Operating income (loss) -91,600 -9,279 -2,952 -19,171
Total other income (expense) -9,823 -17,098 -2,853 4,115
Loss from continuing operations before income taxes -101,423 -26,377 -5,805 -15,056
Income taxes expense 606 137 332 92
Loss from continuing operations -102,029 -26,514 -6,137 -15,148
Loss from discontinued operations, net of tax -118,939 -64,445 -6,122 -
Net loss -220,968 -90,959 -12,259 -15,148
Net loss per common share: Basic and Diluted -34 -13 -2 -1.20
Note: SPI completed the disposition of China business on Dec 10, 2018

25. Balance Sheet
2018 2019
($ in thousands)
Assets
Total Cash 4,141 2,764
Total Current Assets 73,883 56,489
Net property, plant and equipment 21,150 33,768
Total non-current assets 114,845 122,354
Total Assets 188,728 178,853
Liabilities & stockholders’ equity
Total Current Liabilities 166,531 170,017
Total non-current liabilities 22,127 14,311
Total stockholders’ equity -3,921 -8,184
Total liabilities and stockholders’ equity 188,728 178,853

26. Investment Overview
1. International Solar Assets Valued at $200M
2. Potential Spin off IPO for SPI Orange Power
3. Strong Revenue Base and Trend Towards Near-Term Profitability
4. Top Three Provider of Solar Power In Australia, Various Global Projects
5. High Potential Investments in Up-And-Coming Industries
6. Strong, Experienced International Management Team
7. Trading at Huge Discount under Peer Group Multiples

27. SPI Energy Co., Ltd.
(NASDAQ GS: SPI)
Company Location
Investor Contact Investor Presentation
July 2020Dave Gentry, CEO
RedChip Companies
407-491-4498
dave@redchip.com
4677 Old Ironside Drive, Suite 190,
Santa Clara, CA 95054