Q4 2012 Supplemental Earnings Call

Presentation

Investor Relations February 26, 2013

Disclaimers & Safe Harbor Statement

This presentation does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of Trina Solar Limited (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever.

The information herein has been prepared by the Company solely for use in this presentation. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives will be liable (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation. This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; the volatility of the Company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

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Categories Fourth Quarter 2012 Full Year 2012

Module and System Deliveries 415 MW (+9.0% QoQ) 1.6 GW (+5.4% YoY)

Revenue (US$) $302.7 mil (+1.6% QoQ) $1.30 bil (-36.7% YoY)

Overall gross margin (%) 1.9%(1) 4.4%(1)

Operating margin (%) -23.3% -20.4%

Earnings per ADS -1.23 -3.77

Fourth Quarter and Fiscal Year 2012 Performance Overview

(1) Includes write-downs and provisions

31.0

20.3

29.0

2.4 5.6

7.1% 5.8%

8.4%

0.8% 1.9%

Q4 11 Q1 12 Q2 12 Q3 12 Q4 12

Gross Profit and Gross Margin

Gross Profit (US$, million) Gross Margin

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Q4 11 Q1 12 Q2 12 Q3 12 Q4 12

436

350 346

298 303

425

380

419

380 415

Quarterly Revenue and Shipment

Revenue (US$, million) Shipment (MW)

Value

Areas

Jun 30, 2012

(MW) 1

Sep 30, 2012

(MW) 1

End of Q4, 2012

(MW) 1

End of Q1, 2013

(MW) 1

Modules 2,400 2,400 2,400 2,400

Cells 2,400 2,400 2,400 2,400

Wafers 1,200 1,200 1,200 1,200

Ingots 1,200 1,200 1,200 1,200

Financial Highlights & Outlook

FY 2013 Guidance

PV Module and System Delivery (MW) 420 - 430 MW 2 - 2.1 GW

Overall gross margin (%) Low single digit * −

Annualized Manufacturing Capacity

Q1 2013 Guidance

1. Based on average manufacturing yield

Obtained new CDB loan facilities in total amount of $250 million

Reduced inventory by $48.6 million, and accounts receivables by

$79.1 million, to $318.5 million and $390.2 million respectively

Repurchased $5.0 mil of July 2013 convertible senior notes,

resulting in a $0.6 mil gain (Dec. 2012: $83.6 mil CB principle balance)

Efficient manufacturing and supply chain management improved

production costs, which was affected by under-utilization

(Total $0.61 per watt, Si and non-Si, excluding inventory effects)

* Includes write-downs and provisions

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Strong Balance Sheet

($ mm) Dec. 31 , 2012 Sep. 30 , 2012 Dec. 31 , 2011

Cash and Cash Equivalents, & Restricted Cash 918 703 896

Accounts Receivable 390 469 467

Inventories 319 367 250

Current Portion of advances to suppliers 58 70 63

Net PP&E 893 903 920

Total Assets 2,865 2,861 2,877

Total Debt 1,374 1,209 1,037

Short-term Debt 959* 778* 389

Long-term Debt 415 431 648*

Total Liabilities 1,983 1,891 1,732

Shareholders' Equity 882 969 1,145

Selected Financials Highlights

*Includes Senior Convertible notes due July. 2013

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USA 14.5%

Germany 38.9%

Italy 3.1%

China 13.5%

Australia 8.2%

India 7.1%

UK 2.5%

Japan 3.3% ROE 8.1%

ROW 0.8%

USA, 22.5%

Germany, 12.9%

Italy, 2.1%

China, 32.4%

Australia, 7.4%

Greece, 2.8%

UK, 4.6%

Japan, 7.2%

ROE, 4.0% ROW, 4.1%

Sales Revenue Breakdown by Regions

1. Geographical breakdown based on country record of sale, not end-installation

2. Includes sales to multi-regional developers

4Q 2012 Operational highlights:

Increased sales in growth markets: China, US, Japan, UK

Normalized G&A expense reduction from 2H-2012 streamlining and cost-cutting

Positive Operating Cashflow: $74.6 million

Cash Balances increased $215 million (to $918 million)*

Q3 2012: US$ 298.0 million Q4 2012: US$ 302.7 million

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* Cash and Cash Equivalents and Restricted Cash (December 31, 2012 )

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FY 2012 Shipment Breakdown by Outlook

FY 2012 FY 2011

1. Geographical breakdown based on country record of sale, not end-installation

USA 21.5%

Germany 37.0%

Italy 12.8%

Spain 13.2%

China 7.1%

ROE 3.2%

ROW 3.2% Belgium 2.0%

Commercial Strategies:

Continue expansion in new growth markets, e.g. China, Japan, Latin America, and the Middle East

Increased project related opportunities as PPA pricing approached with local grid costs

Projects Systems Business targeted 20% of 2013 Gross Revenue

USA 25.5%

Germany 33.1%

Italy 6.1%

Australia 6.1%

China 12.9%

ROE 5.7%

ROW 4.5%

UK 3.1%

Japan 3.0%

Global Operations

Zurich

Europe HQ

Changzhou, Jiangsu

Corporate HQ & Factory Munich

San Jose, CA

N. America HQ

Madrid

Seoul, S. Korea

Tokyo, Japan

Regional HQ

Be

ijin

g

Milan

Corporate & Regional Headquarters

Regional Sales & Marketing Branches

Shanghai, China

Sydney, AUS & NZ office

Singapore

APMEA HQ

Abu Dhabi, UAE

Uru

mq

i

Ch

en

gd

u

China

Midlands, UK

Johannesburg

Penang

Santiago, Chile

Over 20 sales and service locations worldwide

Ontario, Canada

New Delhi, India

Bangkok, Thailand

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Q&A Session

• Jifan Gao, Chief Executive Officer

• Terry Wang, Chief Financial Officer

• Zhiguo Zhu, SVP and President of Trina Solar Module Business Unit

• Thomas Young, Vice President Investor Relations

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www.trinasolar.com

CHINA

KOREA

JAPAN

U.S.A.

GERMANY

ITALY

SPAIN

SWITZERLAND

AUSTRALIA