Abb's Acquisition on Power-One

Topics: Photovoltaics, Renewable energy, Photovoltaic module Pages: 7 (2351 words) Published: July 10, 2013
13/5/10

www.sec.gov/Archives/edgar/data/1042825/000110465913031359/a13-10532_2defa14a.htm

Safe-harbor statement April 23, 2013 This presentation includes forward-looking information relating to the acquisition of Power-One by ABB. Such forward-looking statements are based on current expectations but are subject to risks and uncertainties, many of which are difficult to predict and are beyond the control of ABB, which could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among other risks and uncertainties, there can be no guarantee that the acquisition will be completed, or if it is completed, that it will close within the anticipated time frame. Additional risks and uncertainties relating to the acquisition include: required regulatory approvals may not be obtained in a timely manner, if at all; the anticipated benefits of the acquisition, including synergies, may not be realized; and the integration of Power-One operations with those of ABB may be materially delayed or more costly or difficult than expected. Forward-

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www.sec.gov/Archives/edgar/data/1042825/000110465913031359/a13-10532_2defa14a.htm looking statements in this presentation should be evaluated together with the many uncertainties that affect ABB’s business, particularly those identified in the cautionary factors discussion in ABB’s Annual Report on Form 20-F for the year ended Dec. 31, 2012. ABB undertakes no obligation to publicly update any forwardlooking statement, whether as a result of new information, future events, or otherwise. Additional information In connection with the meeting of Power-One stockholders to be held with respect to the proposed merger, Power-One will file a proxy statement with the Securities and Exchange Commission (the “SEC”). INVESTORS AND SECURITYHOLDERS ARE ADVISED TO READ THE PROXY STATEM ENT WHEN IT BECOM ES AVAILABLE BEFORE M AKING ANY VOTING OR INVESTM ENT DECISION WITH RESPECT TO THE PROPOSED M ERGER BECAUSE IT WILL CONTAIN IM PORTANT INFORM ATION. Investors and security holders will be able to obtain a free copy of the proxy statement (when available) and other relevant documents filed by Power-One with the SEC from the SEC’s website at http://www.sec.gov and from Power-One by directing a request to Power-One, Inc., 740 Calle Plano, Camarillo, California, 93012, USA.

Creating a global leader in solar inverters A deal fulfilling our strategic goals in renewables April 23, 2013

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Power-One and ABB: Creating a global leader in a $10+ billion industry1 April 23, 2013 Solar Photovoltaic (PV), becoming a major force, impacting the global energy mix An industry set for long-term growth primarily led by emerging markets Solar inverters are the attractive and intelligent part of the PV value chain Power-One, No. 2 in solar inverters; comprehensive and competitive portfolio Complements ABB’s growing inverter business and leadership in power electronics Combined with ABB’s sales and service channels, R&D resources and “bankability”,

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www.sec.gov/Archives/edgar/data/1042825/000110465913031359/a13-10532_2defa14a.htm the deal creates a global player in the fastestgrowing renewable energy sector Scores on all ABB strategic M &A vectors – products, markets, geography 12017 estimate

Transaction highlights April 23, 2013 Consideration Cash consideration of 6.35 per share 57% premium to 19 April 2013 closing; 50% premium to the 90-day average $1,028 million equity value1, $762 million enterprise value2 Expected financial impact EV/Rev 2012 multiple of...
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