VIKRAM SOLAR, THE ONLY INDIAN MANUFACTURER RECOGNIZED AS ‘TOP PERFORMER’ IN THE PVEL PV RELIABILITY SCORECARD FOR ITS ADVANCED TECHNOLOGY IN HALF-CUT CELL MULTI-BUSBAR SOLAR MODULES

May 21, 2022

kolkata

• Listed as ‘Top Performer’ for the 4th consecutive year and 5 times in last 6 years
• First Indian solar manufacturer to be recognized in PVEL PV Module Reliability Scorecard in 2017

Kolkata, May 20, 2022: Vikram Solar, one of India’s leading module manufacturers and comprehensive EPC solar solutions provider, once again claimed the position of the ‘Top Performer’ in the PV Evolution Labs (PVEL) PV Module Reliability Scorecard 2022. Vikram Solar’s bifacial multi-busbar (MBB) module- Prexos with up to 500 watt (W) half-cut cell emerged as top performing in the international quality and performance benchmarks by PVEL.

Mr. Gyanesh Chaudhary, Vice Chairman and Managing Director, Vikram Solar shared, “Vikram Solar was the first Indian solar manufacturer to be listed in PVEL PV Module Reliability Scorecard in 2017. Our quality, innovation, consistent performance and reliability proves that our products are technologically advanced and establish industry benchmarks. Investment in technology and quick adoption of sunrise technologies enable us to stay ahead of the curve. We have been concordant in claiming top positions in half-cut cell with multi- busbar fitting in all solar product since 2021. We are proud to earn this recognition as one of the Top Performers. PVEL testing and our consistent performance testify Vikram Solar’s commitment to deliver reliable and robust products for our clients. I am proud of the team for making Vikram Solar one of the leading solar companies delivering benchmark sustainable energy solutions worldwide, through world class technology and innovation.”

Vikram Solar has been recognized as Top Performer in the coveted ‘PVEL PQP Reliability Scorecard 2022’ list for the 4th consecutive year and 5 times in the last 6 years. Vikram Solar was featured in the ‘PVEL PV Module Reliability Scorecard 2022’ as the ‘only’ Indian module manufacturer presenting technologically advanced high-efficiency half-cut cell multi-busbar modules with 500 W capacity. This year, Vikram Solar is the only Indian company to have three cell variants module listed in the scorecard- 120/144/156 cells, fit for all solar segments- Rooftop, Commercial &Industrial (C&I) and Utility scale.

Vikram Solar’s Prexos modules have been ranked Top Performer across the categories- Damp Heat, Potential-induced degradation (PID) and Light induced degradation (LID) + Light and elevated temperature-induced degradation (LETID). The test results exceeded the quality and performance benchmarks.

Tristan Erion-Lorico, VP of Sales and Marketing at PVEL said “Vikram Solar’s half-cut 500 W modules have achieved recognition as Top Performer in the PV Module Reliability Scorecard. PVEL’s rigorous testing regime offers vital knowledge about solar PV module reliability and long-term performance. Vikram Solar receiving a position in the list for the fourth consecutive year is a testament of their focus on quality and performance.”

The Product Qualification Program (PQP) assessment was done by PVEL, a leading independent test lab for the downstream solar and energy storage industry. The rankings are based on results from rigorous,

comprehensive testing programs. Top Performing modules showed less than 2% degradation for the entirety of the test sequence.  The PVEL 2022 scorecard can be accessed on the web link:   The 2022 PVEL PV Module Reliability Scorecard

 About Vikram Solar:

Vikram Solar Limited is one of the leading solar energy solutions provider, specializing in efficient photovoltaic (PV) module manufacturing and comprehensive EPC solutions. With an international presence across 32 countries, portfolio of 1.42 GW (commissioned + under execution) and 1,899 employees the company is an active contributor in shaping the global solar revolution. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturer in India with cumulative production capacity of 2.5 GW*. According to Bloomberg New Energy Finance, the company is a Tier-1 PV module manufacturer and a consistent ‘Top Performer’ in PVEL’s PV module reliability scorecard. As a fully forward-integrated Solar EPC solutions provider, Vikram Solar deploys world-class technology to design, install and commission solar projects. *The company has a robust distribution network connecting more than 40 cities, ensuring the availability of solar products and solutions across 600+ locations Pan-India. Website: www.vikramsolar.com  *as on 31^st December 2021

For further information, please contact:

Asha Bajpai | Vikram Solar Limited| Mobile: +91 98207 83566 | Email: press@vikramsolar.com

Disclaimer: Vikram Solar Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, JM Financial Limited at https://www.jmfl.com/ and Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com, and the websites of the stock exchanges at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.

These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The equity shares mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”).

The equity shares may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States.