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Actionable news in ENPH: Enphase Energy, Inc.,

2 © 2015 Enphase Energy, Inc Agenda

The following excerpt is from the company's SEC filing.

Paul Nahi Enphase Energy vision Martin Fornage Technology for cost reduction

Greg Steele Engineering for cost reduction

Darien Spencer Operations and automation for cost reduction Stefan Zschiegner Product cost reduction roadmap Raghu Belur Home energy systems roadmap

Stefan Zschiegner Enlighten demo

© 2015 Enphase Energy, Inc.

President and CEO

Enphase focus and priorities

Enphase is executing on its strategy to address market-driven cost pressures in the near term, while positioning the company for long-term growth:

[1] Significantly reduce the cost of a solar system through product cost reduction and simplification of the installation process

[2] Create a total energy solution for homes and businesses through the development of new products, features and services

Enphase goals

[1] Invest in our next generation technology to reduce costs by 50% in 24 months, towards $0.10 per Watt

[2] Provide our partners with best-in-class power electronics, storage solutions, communications, and load control all managed by a cloud based energy management system

Enphase in more than 375,000 systems in 95 countries

Martin Fornage

Chief Technology Officer

Enphase 10 years of innovation

First predictive digital control system

First custom chip

First Mixed signal ASIC

Next Gen power train control design

Next Gen power train first operation

Next Gen enclosure prototypes

2006 2015

First microinverter system introduced

million units shipped,

Enphase expands globally

Fourth-generation technology introduced

AC battery announced

Fifth-generation

Introduced

9 © 2015 Enphase Energy, Inc.

Microinverter design constraints are difficult to balance

Cost Reliability

Efficiency Certifications

EMC Thermal

10 © 2015 Enphase Energy, Inc.

General design philosophy

The System approach is critical

System behavior is defined by Software

Distributed architecture wins

Digital control wins

11 © 2015 Enphase Energy, Inc.

The approach to inverter system design

Choose a low noise, high efficiency power train

Move to a polymeric enclosure

Simplify the wiring

Simplify the installation

12 © 2015 Enphase Energy, Inc.

Enphase power train and control

Advanced power train features

Fully resonant, soft-switched, bidirectional, single-stage converter

Worlds first sub-cycle control capability

Much improved EMC signature

WBG semiconductors can be used to further reduce cost and increase efficiency

Additional integration opportunities

13 © 2015 Enphase Energy, Inc.

Polymeric enclosure

Low-noise power train allows for polymeric enclosure

Reduced mechanical stress on components

Lowest transformation cost

Higher freedom of design

Improved thermal performance

No ground wire

Embedded bulkhead connectors reduce number of cables needed

14 © 2015 Enphase Energy, Inc.

2-wire cable system

Polymeric enclosure enables a 2-wire A

Less than half the weight per inverter

Easier installation

More flexible

Much smaller bend radius

4-wire

15 © 2015 Enphase Energy, Inc.

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