• New Partnership with Electric Vehicle Charging Software Provider
• Announces Membership in the European Solar PV Industry Alliance

SINGAPORE, June 12, 2023 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar innovation and channels, today announces that it will be attending Intersolar Europe 2023, where it will showcase its latest solar panel technologies and new energy solutions at Booth A2.430. The company will also launch a new partnership with electric vehicle charging software company, ev.energy, in which the two organizations will collaborate to help consumers unlock more benefits from their SunPower Drive, Maxeon's electric vehicles (EV) mobility solution.

Ralf Elias, Maxeon's Chief Product Officer, said: "This new cooperation with ev.energy is an exciting extension of the SunPower One ecosystem, expanding our proposition for consumers and enabling them to take the clean energy produced by their Maxeon panels on the road in their electric vehicles."

The partnership with ev.energy marks another addition to Maxeon's SunPower One open and flexible suite of products and services, which also includes SunPower Reserve, the company's home energy storage system, Insights service, and SunPower One home energy management solutions, allowing customers to be in control of their energy usage and save money. As an exclusive benefit to SunPower One, customers who purchase SunPower Drive will have access to ev.energy mobility & home energy management services, enabling solar surplus charging, smart tariff charging, smart scheduling, and other intelligent use cases that help drive savings and make the most of their solar-produced energy.

Maxeon will also be showcasing its flagship Maxeon line of panels, which provide leading energy density, high energy yield, and superior shade tolerance as well as a 40-year power and product warranty. Alongside the Maxeon line, the company will be revealing its newest generation of Performance line solar panels, with high efficiency TOPCon cell technology offering improved aesthetics, increased mono or bifacial power generation, and a lower temperature coefficient for enhanced power density.

Additionally, Maxeon will announce that it has become a member of the European Solar PV Industry Alliance (ESIA) to better support the growth of a resilient solar value chain in the EU. The company is currently taking an active role in three working groups of the ESIA; "Non-pricing criteria": to emphasize the importance of ESG and human rights standards across the supply chain, "Supply chain": to ensure that the EU is capable of producing 30GW at each step of the supply chain by 2025; and "Financing": to fill OPEX and CAPEX gaps across the value chain and provide proposals for financing support and mechanisms and bring the European Solar Manufacturing back.

"The EU has set incredibly ambitious targets to grow a mature, domestic solar PV industry in just a few years. So, together with over 100 organizations, we're joining this race. Where we can, we want to be part of that effort towards Powering Positive Change™. With this crucial step, Maxeon confirms its desire to actively participate in the creation of a European photovoltaic ecosystem, bringing its experience and expertise as a consolidated manufacturer of high-efficiency modules," commented Mark Babcock, Chief Revenue Officer at Maxeon Solar Technologies. 

About Maxeon Solar Technologies

Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) is Powering Positive Change™. Headquartered in Singapore, Maxeon designs and manufactures Maxeon® and SunPower® brand solar panels, and has sales operations in more than 100 countries, operating under the SunPower brand in certain countries outside the United States. Maxeon is a leader in solar innovation with access to over 1,000 patents and two best-in-class solar panel product lines. Maxeon products span the global rooftop and solar power plant markets through a network of more than 1,700 trusted partners and distributors. A pioneer in sustainable solar manufacturing, Maxeon leverages a +35-year history in the solar industry and numerous awards for its technology.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding our technology outlook and future performance; the anticipated partnership and product and service launch timing and our expectations regarding ramp, customer acceptance and demand, market traction, upsell and expansion opportunities; and the Company's expectations of the timing and success of its expansion strategy in existing and in new markets; the Company's expectations and plans for short- and long-term strategy, including our anticipated areas of focus and investment, market expansion, product and technology focus and projected growth and profitability. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements.  A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission ("SEC") from time to time, including our most recent report on Form 20-F, particularly under the heading "Item 3.D. Risk Factors." Copies of these filings are available online from the SEC or on the Financials & Filings section of our Investor Relations website at https://corp.maxeon.com/financials-filings/sec-filings. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

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