power electronic applications

1. TM
March 2007
Power-One (PWER)
Investor Presentation

2. 2
Mission Statement
To be recognized as the leader in system-level
power and power management solutions from
AC to the IC in the communications and high-
technology markets, utilizing our technical
leadership to deliver comprehensive low-cost
solutions; providing increasing value to
customers, employees, and investors

3. 3
Power-One Power Supplies Are Everywhere
Over 25 million power supplies shipped & now SILICON…
Our products convert, process & purify electricity to the
high levels of quality, reliability, & precise direct current
required by the digital economy

4. 4
Power Conversion Products for Communications &
High-technology Infrastructure Markets
DC/DC Power
Plus Digital Power Management
Controls Power on the
Printed Circuit Board
AC/DC Power
Powers Telecom, Networking
& Industrial Equipment
Controls Power at the
System Cabinet

5. 5
Power-One Today
• 30+ years of success
• One of the world’s top power supply companies
–Broad-line power conversion supplier – 100’s of
standard product families
–Over 2,500 employees
–Top brand name & quality reputation
–Industry leading Gross Margins
• Five acquisitions since 1999
• Highly-automated worldwide manufacturing
• Strong balance sheet (~$45M cash, ~$80M debt)
• ’06 Sales ~$338M – 29% Growth
• Investing ~$7M/yr in R&D for silicon design
Today, Power-One is the technology leader in power;
a consolidator; and a developer of silicon products
(Now 4000!)
(Now six!)
($530-550M in ‘07)

6. 6
NEWS FLASH! Power-One Announced Acquisition
of a Power Conversion Company
• Power Electronics Group of Magnetek, Inc. for $84M in late
October ’06
• Expected to increase revenue by over 50% with overall
purchase price of only 0.5x forecasted 2007 sales
• The acquisition is strategic and accretive
– Accretive in Q1 of 2007
– 90% of products are digitally based with micro/DSP’s
• Synergies expected to be additive to earnings per share
~$0.07per share in 2007
~$0.30 per share in 2008
• Q4 ’07 exit rate: Expect sales ~ $150M and ~ EPS $0.10
• January ’07 changes:
– U.S. factory will be shutdown; products moved to low cost areas
– Dr. Alex Levran joins Power-One as CTO from Magnetek

7. 7
Overall Transaction Assets
• Three main factories
– 230K sq. ft. in Shenzen (Bao’an) China
– 180K sq. ft. in Valdarno, Italy (Includes
R&D and Admin, with low-cost “feeder
plant” in Hungary)
– 50K sq. ft. in Chatsworth, CA
• Best-in-class R&D Center
(80+ experienced engineers)
• Custom product capability
• New applications, like Alternative
Energy (AE) & digital control for
motors
• High-volume purchasing leverage
Chatsworth, California
Valdarno, Italy
Shenzhen, China

8. 8
Strategic Synergies & Importance
• The acquisition is strategic and accretive
– Forecasting EPS in 2007 to be ~ $0.20 per share
– Expect to exit ’07 at a quarterly run-rate of a range around $150
million in sales and $0.10 EPS
– Primary drivers for margin improvement are synergies in
purchasing and manufacturing
• Size and purchasing power of larger company
– Now the 7th largest power supply company in the world
– Economy-of-scale to compete with larger competitors
• High-volume, low-cost China operation
• Adds Custom products (largest & fastest-growing
market) and augments top customer base
• R&D resources and technologies
• Alternative Energy initiative

9. 9
Acquisition Highlights How Power Conversion &
Power Management Are Changing to Digital
• Products range from smart motor driver
and control circuits to large 50KW power
modules
• 90% of products are digital
implementations with micro/DSP and
software
– Fewer competitors - less commoditization
– Higher margins over time
– Greater functionality - market diversity
– Higher performance
– Software-driven with reduced parts count;
higher reliability
• Augments Power-One’s board-level Z-
One®
digital power management
capabilities
Digital
Smart Appliance
Control & Management
DSP-based Motor Controls

10. 10
Alternative Energy Initiative In Power Inverters
Using Digital Technology to Innovate
Solar – Wind – Fuel Cells
• High reliability and efficiency
power converters
• High power-density & compact
size
• Primary energy source control
• Grid interactive control
• System level control
Wind Power
Converters
Photovoltaic
Inverters
Compact Fuel
Cell Power
Conditioners

11. 11
Quarterly Revenue
48
56
60
66
56
69
64 67 69
73
67
72
67
63
67
64 65
79 79
116
130
$0
$20
$40
$60
$80
$100
$120
$140
Q1-
02
Q2-
02
Q3-
02
Q4-
02
Q1-
03
Q2-
03
Q3-
03
Q4-
03
Q1-
04
Q2-
04
Q3-
04
Q4-
04
Q1-
05
Q2-
05
Q3-
05
Q4-
05
Q1-
06
Q2-
06
Q3-
06
Q4-
06
Q1-
07
(est)
($M)
Q1 07 estimate range is between $125 to $135M

12. 12
Power-One’s History & Strategic Direction
1997
A technology leader in
powering communications.
Integrated five acquisitions,
developed silicon & digital
power mgt.
Founded as
AC/DC
power
conversion
company
1973
Strategic shift to
communications
infrastructure
markets &
acquisitions
Acquired
Melcher
Acquired
IPD
Acquired
HC
Acquired
Powec
Power Systems (North America)
DC/DC Bricks (North America)
DC/DC Conversion (Europe)
Power Systems (Europe/Asia)
AC/DC – North America
Initial
Public
Offering
(IPO)
Silicon
Initiative
Acquired
di/dt
High-density Bricks & POL’s
Silicon R&D Center Startup
Silicon
Division
Silicon POL’s + 1st Power Mgt.
Strategic Direction
Acquired
PEG of MAG
Custom Products & China Mfg.
Entered
Server/Storage
markets &
acquired Custom
capability
1998 1999 2000 2001 2002 2003 2004 2005 2006

13. 13
30+ Years of Innovation in Power
• 1972 – 1st linear standard
• 1989 – 1st in configurable high power AC/DC
• 1993 – 1st DC/DC open frame converter
• 1995 – 1st dual ½ brick (DC/DC Converter)
• 1995 – 1st dual ¾ brick
• 1995 – 1st 50 Amp ¾ brick
• 1995 – 1st planar transformer
• 2000 – 1st 100 Amp AC/DC power supply in a 1U height
• 2001 – 1st 150 Amp ¾ brick
• 2001 – 1st Surface Mount ¼ brick
• 2002 – 1st 1/8th brick
• 2002 – 1st Surface Mount 1/8th brick
• 2002 – 1st triple-output scalable, sequenceable ½ brick
• 2004 – 1st in digital power & conversion (Z-One® IBA)
• 2004 – 1st 97% efficient isolated DC/DC Converter
• 2005 – 1st 340W 1/8th DC/DC Brick Bus Converter
• 2006 – 1st to control both analog & digital with Z-Series

14. 14
Power-One’s New Global Footprint
Dominican Rep.
Carlsbad, CA
Switzerland
Australia
Singapore
Penang, Malaysia
Shekou, Shenzhen, China
Manufacturing Centers
R&D Centers
Camarillo, CA
Slovakia
Andover, MA
Ireland
San Jose, CA
Baoan, Shenzhen, China
NEW Mfg Centers
NEW R&D Centers
Italy
Hungary
Chatsworth, CA
Dallas, TX

15. 15
Power-One’s Customers …
Acquisition Augments Premier Customer Base
Bottom Row Shows Significant Additions to PWER Base

16. 16
Why Customers Select Power-One
• Comprehensive product selection
– Full range of options for power technology
solutions. 100’s of products to fit any application
• Designed-in technology solutions
– Vision-One process used to strengthen
engineering relationships
– Newer technologies facilitate strong partnerships,
especially on-board designs
• Reliable products at competitive prices
– Only 2-5% of system cost, but “mission critical to
performance”
• Logistics and customer support
– Sophisticated Oracle ERP systems
– EDI links to customers
• Strong financial partner
– Excellent balance sheet
– Investing in infrastructure and R&D

17. 17
2005/2006 =Major Restructuring/Sales Growth
2007= Integration Execution and Leverage
2005: Goal of profitability achieved in Q3 & Q4
• Reduction of >$30M in overhead & SG&A
• High-cost Norway functions moved to low-cost Slovakia & China
• Telecom Power Systems combined with embedded business
2006: Return of Growth
• Return of sales growth was #1 goal
• Server & Storage and Power Systems growth has been dramatic in 2006
• Original goal of 10-15% growth in ‘06 was at high-end without acquisition
2007: Executing the acquisition integration plan
• Acquisition will increase sales dramatically to $530-550M
• Material costs and synergy are highest priority to improve profits
• Acquisition management teams are fully operational and motivated
• Shutdown Chatsworth, CA facility & move products to low-cost areas
• Dr. Alex Levran joined as CTO in January ‘07

18. 18
Core Business Successes
Power Systems – Telecom & Cell Base Station Backup Power
• Turned around our Telecom Systems Business to
now one of the fastest growth lines in Power-One
• Seeing more new opportunities & strong Bookings
(esp. in Europe, Middle East, Russia).
• Datacom & Telecom continue to converge – there
are many more new opportunities for rectifiers with
existing OEMs
• Outdoor Cabinet for wireless that was developed
in ’06 is a new market for Power-One
• Gaining Market Share in Telecom Power Systems
• Supply Agreement with Ericsson announced in
2006 is starting to generate sales

19. 19
Core Business Successes
Embedded Products – AC/DC Power Supplies
• More aggressive in custom products business
– Gained access to larger accounts in Storage/Server market
– Strategy: standard platforms to develop customs, which lowers cost,
risk, and time to develop
• Best distribution network – Award from Arrow for largest
sales of all products in the Electro-Mechanical (EM) category
• Good upside when ATE/Semi Equipment market improves
• New Product Introductions cement leadership, like the Best-
in-Class, High-Density, Front-Ends (FNP Series of products)
• Penetrated two of the largest Server/Storage companies and
working on others
• “Supplier of the Year” Award for ALL products from Xyratex
• Sun Computer “Meritorious Achievement Award” presented to
Power-One. Only 17 companies were honored

20. 20
Core Business Successes
Embedded Products – DC/DC Converters
• Growing market share in our space
• World-class leadership
– One of the broadest DC/DC converter portfolios in the industry. We
can control almost any application
– High-density bricks (latest example is 1/8th brick with 30A and best
thermal performance in its class)
– “Y” POLs (standard analog) continuing to gain traction
• Using standard platforms for development of
custom DC/DC bricks and POLs
• Reduced costs attained from moving U.S.
manufacturing to Dominican Republic and Asia

21. 21
Where Power-One Excels
• Worldwide Mfg. and R&D (Asia, Americas & Europe)
• Worldwide Customer Service and Support Including Field
Applications, Sales & Sophisticated IT Infrastructure (EDI)
• Technology:
– In-house silicon development and packaging capabilities
– Digital Power Management, Z-One® Digital IBA, the first complete
power conversion AND power management solution
– Density leadership in DC-DC bricks and POLs
– Leadership in AC Front Ends and Telecom Power Systems
– Industry’s highest efficiency and power density
• Competitive on a world class level
• We are a complete supplier from AC to the IC

22. 22
Market Drivers & Power-One’s Competitive Position
Product Choices
Both Standard & Custom.
Silicon to Systems offer
“One-Stop-Shop”
Vendor Consolidation
Customers Demand
Strong Balance Sheet
& Global Operations.
DPA  IBA Digital
Distributed Pwr. Arch.
Is Moving to
Intermediate Bus Arch.
& Digital Pwr. Mgt.
Global Market Trends
The Power-One Advantage
• Leading Technology – from Silicon
to Systems
• Broad Product Line: Standard +
Custom
• Leading Brand – Top Quality &
Support
• Proven Consolidation Capabilities
• Global Blend of Outsourcing
& Vertical Mfg.
• Few Competitors Can Compete at
Larger Customers. (Top Customers
dominate TAM)

23. 23
Growth Opportunities
Communications &
Industrial Markets
Standard Products
Power Systems
(Indoor)
AC/DC Power Supplies
DC/DC Bricks
Server & Storage
Markets
Custom Products
Power Systems
(Outdoor & Access)
AC/DC Front-ends
Analog POLs
Z-One® Digital Power
-Digital POLs
-Digital Power Mgt.
NEW OPPORTUNITIES
1. New Markets
2. New Products
3. Digital Power
CORE GROWTH
1. Technology Leadership
2. High Density/Efficiency
3. Broad Product Portfolio
Acquisitions

24. TM
A Digital Power
Revolution
Conversion … Communications… Control
Digital Power Revolution--- ZZZZ

25. 25
What Do Customers Want and
Why The Inflection Point Now…..
1. More and more lower voltages are
needed by our customers
2. Number of outputs are increasing
3. Power management functions are
escalating, as are # of components
4. Power takes too much space & costs
too much
5. Power is getting more complex –
integration has been non-existent

26. 26
Power Management and Power Conversion…
Two Separate Markets
Conversion Control (Pwr. Mgt.)
Communication?

27. 27
Power Management and Power Conversion
Becomes One … with Digital Technology
Conversion
Control (Pwr. Mgt.)
Communication
Goal: 20% Market Share in 5 Years

28. 28
The “Z” Strategy & Opportunity …
Win by Changing the Rules of the Game
• Our Goal: Comprehensively solve our customers’
power management problems
• Be first to market – and gain share
• Establish leadership position … with a new
approach to power management
• Silicon strategy + IP for higher margins and
sustainable competitive advantage
• Attack new markets with disruptive technology

29. 29
“BRICK”
DC/DC
Converter
Analog
Controller
V5
48 V “BRICK”
DC/DC
Converter
POL
3.3V
V1
POL
3.0V
V2
POL
2.5V
V3
POL
1.8V
V4
POL
POL POL
V6 V7
The “Before” – Unmanageable with Analog

30. 30
DPM
“BRICK”
DC/DC
Converter
48 V
The “After”: Z-One® DIGITAL IBA™
V1 V2 V3 V4
V5 V6 V7
Z-POL
Z-POL
Z-POL
Z-POL
Z-POL
Z-POL
Z-POL
I2C
from
Host
System

31. 31
8-output Power System Comparison
Z-One®
Digital IBA
IBA with Analog
Power Mgmt
200+
600+
~10 in2
8 Weeks
Limited
~$100+
9
<100
3.8 in2
3 Days
~$90
Virtually
Unlimited

32. 32
Z-One® Architecture Benefits of Z-7000
• Any voltage, any current, any configuration; architecture is highly adaptive &
flexible; system reconfiguration on-the-fly
• Real-time telemetry – continually monitors temperature, current, and voltage for
precise and optimized control
• Open architecture communications with industry-standard I2C interface bus
and affiliate program with BOTH module mfg. and silicon partners
• More reliable and flexible fault management strategies
• 90% reduction in time to market, development, # of components & board traces
Z-Series
Digital
Power
Manager
Z-Point Of Load
Converters

33. 33
And Now … Power Management for Free
with No-bus™ Z-1000 POLs
• NO bus, NO protocol, NO memory, NO software and NO
programming are required
• NO external controllers are needed:
– Power management features are inherent in Power-One
developed silicon
– Based upon proven “Z” silicon technology
• Lower price point for “No-Bus” Z-1000 Series allows entry
into lower-end applications. Simple, yet fully featured:
– No other POL on the market has near the performance
– Configurable output voltages from 0.5 to 5.5v
– Manage sequencing with configurable delays, tracking and cascading
between multiple outputs
– Can measure output current and temperature via monitoring pins
– Parallel up to ten Z-POL converters

34. 34
“BRICK”
DC/DC
Converter
48 V
The No-Bus™ Z-1000
Power Management for Free
V1 V2 V3 V4
V5 V6 V7
Z-POL
Z-POL
Z-POL
Z-POL
Z-POL
Z-POL
Z-POL

35. 35
Free Power Management Features
Comparison - Modules
Feature
Z-1000
“No-bus”
Digital
Lynx™ II
& POLA
Analog
Operates w/o Needing an Ext. Power Mgt. Controller* Yes No*
Current Share Yes No
Output Over-voltage Protection Yes No
Power Good Yes No
Frequency Synchronization Yes No
Current & Temperature Measure Yes No
Startup into Pre-biased Output Yes No
Sequencing Fixed No
Tracking Fixed Limited
Speed of Transient Response Config. Fixed
Interleave Config. No
Fault Propagation Between Outputs Config. No
Approximate Cost of POL Module $10 $10*
Lynx™ is a trademark of Tyco Electronics Power Systems, Inc
* Note: If Analog Power Management Is Used by Customer,
$5-15 of Analog Components Would be Required

36. TM
No-Bus™ Z-1000
Digital Power
Advertisement

37. 37
Z-OneTM
Digital IBA
No-BusTM
Z-1000 POLs
Z-7000 POLs and
Digital Power Manager (DPM)
Power
Management
Interface Hardware configurable I2
C programmable
Features No external controller
or bus required
DPM provides unprecedented
power management options
Parameter
Selection
What * Vout
* Turn-on Delays
* Feedback loop compensation
* Interleave
* Vout * Protections
* Turn-on delays * Power Good
* Feedback loop * Slew rates
compensation * Frequency
* Interleave * Fault mgt.
How
Pin strapping and only one trim
resistor and capacitor
I2
C programming capabilities
include a wizard-driven GUI
Telemetry
What Current and temperature Voltage, current and temperature
How Digital and analog signals Via I2
C bus
Z-OneTM
Digital IBA operates
autonomously in any system. Unlike
other power management solutions
it does not require users to provide
an I2
C interface, host processor, or
non-volatile memory.
Choices in Cost and Functions

38. 38
2nd Generation Digital Power Manager – ZM7300
• One IC replaces entire module
– (1/6th the footprint)
• Increased functionality
• Controls non-Z converters, e.g., fans, VRMs
– Four non-Z-One devices can be controlled and monitored
– Monitoring & enable lines synchronized with Z-POLs
– Industry standard 100khz and 400khz I2C comm. bus
– Supports hot-swapping of circuit boards

39. 39
ZM7300 Now Control Non-Z Converters!
ZPOL ZPOL ZPOL
Analog
POL
LDO
Nega-
tive Vo
VRM
ZPOL
DPM
ZM7300 SD Line
I2C
EN EN EN EN
PGood
PGood PGood PGood
• Four enable lines synchronized with Z-POLs
• Four power good inputs for monitoring of non-Z Devices
• Can control any converter or other device with enable signal (e.g., fan)
• Enable turn-on/off delays and polarity are programmable via GUI

40. 40
Z-One Digital (IBA) Outperforms & Is Less Costly
Cost
Performance
Analog
IBA
Competitive
Std. POLs
(No Pwr. Mgt.)
Full-Featured
Digital Power
Z-7000
“No-bus” Digital
Power Mgt.
Z-1000 POLs
POL Market is >$1B with ~15% Growth
2nd Gen
Digital Power
Controls
Analog
Discrete
Analog
Solutions
(No Pwr. Mgt.)

41. 41
Results for Z-One Digital Power
• We have a significant head-start on the competition
• The Z-series disruptive architecture is a true revolution in power
• Licensed technology (second sourcing)
– Module 2nd source in Dec. ’04 with C&D Technologies (top 5 supplier)
– Semiconductor Z-affiliate announced with Atmel in July’05; and with Micrel LDO
(Low Drop-Out) regulator IC in Sept ‘06
– Silicon Labs joined the Z-Alliance in August ‘06
– Meeting with other potential partners
• Customers who implement the “Z” can offer products with additional
system features and benefits; and with faster TTM (time to market)
• New markets opened, e.g., Storage & Server, Military, Aerospace &
Security (total POL market exceeds $1.0 billion)
• Core business is growing as a result of the “Z”
• ~80 Z-One® board-level design wins & growing (now with top-tier cust.)
• Significantly more embedded in the customers’ systems architecture

42. 42
Strategic Initiatives
Execute on acquisition implementation
Invest in most advanced power technologies
– Silicon-based products; Protect IP
– Leading position in DC/DC bricks; new POL converters
– Advanced AC/DC front-ends for DPA/IBA markets
– High-density Power Systems for telecom/ISP/infrastructure
– Alternative Energy initiative
Broaden portfolio into high-end data infrastructure
– Gain further traction in Storage/Server markets with the “Z”
– Custom AC/DC power supplies & DC/DC converters
– New Telecom Power System’s outdoor cabinet
Continue to reduce overall cost structure
Bottom and top-line growth

43. 43
Summary & “Take-a-ways”
• 2006 was a return to growth; 2007 is a year of execution and leverage
• Telecom Power Systems is now a high-growth business
• Server & Storage design wins have turned into revenue
• Z-One® digital power management gaining momentum
• Power-One is a consolidator and can compete with biggest
competitors; now # 7 in worldwide sales.
• Power-One is the only significant “Pure Power” play
• High synergistic & strategic value in acquisition: very quickly accretive
• Power-One forecasts Q1 ‘07 range to be between $125-135M with
acquisition, $530-550M in 2007
• Forecasting EPS in 2007 to be approximately $0.20 per share
• Expect to exit ’07 at a quarterly run-rate of a range around $150M in
sales and $0.10 EPS

44. TM
A Digital Power
Revolution
Changing the Shape of Power
Z- Digital Power Revolution

45. TM
Thank You!

46. 46
This presentation includes forward-looking statements within the meaning of the Safe Harbor
provisions of the Private Securities Litigation Reform Act of 1995 that can be identified by the
use of forward-looking words such as “will” or “estimate” or comparable words. These
statements are subject to a number of factors, risks and uncertainties that could cause actual
results to differ materially from those projected. Risks and uncertainties include, but are not
necessarily limited to: the Company’s success in securing customer acceptance and adoption
of the Company’s products and technologies; the Company’s success in integrating the newly
acquired Magnetek PEG operations into the Company’s overall operations; the Company’s
success in achieving anticipated cost savings from projected synergies relating to the
Magnetek PEG acquisition; the size and pace of growth and improvement in target and
potential markets; the Company’s success in establishing and maintaining adequate and
qualified manufacturing sources for supply of products; constraints and limitations in the
supply chain(s) for critical components contained in Company products; the Company’s ability
to achieve and sustain gross margins at levels anticipated and noted as comparable to “silicon-
based” companies; the Company’s ability to continue spending at prior or desired levels for
research and development related to the products and technologies discussed in this
presentation; competitor advances and successes in comparable, alternative or competing
technologies; the Company’s success in securing protection for intellectual property
incorporated into the Company’s products and/or enforcing such intellectual property against
use of same by competitors; intellectual property claims or rights of third parties which are
unknown to the Company, and/or which are asserted in the future against the Company. In
addition, we refer you to the Company’s most recent SEC financial filings, to include the
Company’s report(s) filed with the SEC on Form 10-K and/or 10-Q for disclosure and
discussion, where applicable or additional risk factors.
Disclaimer & Forward Looking Statements