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

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.