Promissory Note Exchange Agreement dated September 13, 2017

The undersigned holder hereby agrees to exchange each of its existing and currently outstanding Promissory Notes (aggregate principal amount and accrued interest equal to $3,504,197.45 as of September 13, 2017) issued by Ascent Solar Technologies, Inc., a Delaware corporation (the “Company”) (the “Existing Notes”) in exchange for one newly issued Promissory Note of the Company (the “New Note”) having a principal amount of $3,504,197.45. The New Note shall have a maturity date of September 13, 2020, and shall have such other terms and conditions as are mutually agreed to by the holder and the Company.

Date: September 13, 2017

By: LT Asia Management Ltd

By: /s/ Ashley Ong         

Name: Ashley Ong          

Title: Director, LT Asia Management Ltd        

By: /s/ Victor Lee

Name: Victor Lee

Title: President & CEO