Memorandum of Understanding with United Utilities Environmental Services (UUES) Riyadh intended to localize solar EBOS manufacturing

Shoals Technologies Group, Inc. ("Shoals") (Nasdaq: SHLS), a global leader in electrical balance of system ("EBOS") solutions for the energy transition market, announced today that it has executed a non-binding memorandum of understanding (MoU) with UUES to work together in developing localized solar solutions for KSA and the region. As part of the MoU, Shoals and UUES will work to establish a business to localize solar EBOS manufacturing for the region.

The Kingdom of Saudi Arabia has planned to develop up to 130 GW of renewable power generation in the next six years, with solar power being a significant portion. In a market that lacks the trade skills required to execute on this ambitious target, Shoals believes its plug-and-play, prefabricated EBOS solutions will help to accelerate this development.

"I am delighted to be partnering with UUES, a highly capable and agile company that is well established in the region with the right relationships," said Gary Uren, Senior Vice President and General Manager for International Business at Shoals. "We believe this new partnership demonstrates the vast potential to grow our business on a global scale."

"After visiting its facilities in Tennessee, I was convinced that Shoals has what is needed to see the Kingdom deliver on its bold objectives for Solar," stated Samer Mazloum, CEO of UUES. "Shoals' approach of pre-designing and pre-fabricating the solar EBOS will greatly speed up installation time and avoid installation failures that have plagued the region."

Shoals' product localization will include solutions that have been successful in the United States at improving the reliability of utility scale projects, improving the IRR for developers, and eliminating the need for a skilled workforce to install EBOS on utility scale solar projects.

About Shoals Technologies Group, Inc.

Shoals Technologies Group, Inc. is a leading provider of electrical balance of systems (EBOS) solutions for the energy transition market. Since its founding in 1996, the Company has introduced innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability. Shoals Technologies Group, Inc. is a recognized leader in the renewable energy industry whose solutions are deployed on over 70 GW of solar systems globally. For additional information, please visit: www.shoals.com.

About United Utilities Environmental Services, Inc.

UUES is a regional leader involved in the water and power sectors. With offices in the three major regions of the Kingdom of Saudi Arabia and a headquarters in Riyadh, UUES serves its clients throughout the MENA region providing solutions such as desalination plants, wastewater treatment plants, as well as power generation solutions.

UUES investors including the Attar family have signaled their support for the partnership and will assist the business as it develops the necessary capabilities that will enable the Kingdom to succeed in its core Vision 2030. Mohammad Saddik Attar, UUES Board Member, is quoted saying; "this partnership continues our journey with globally recognized businesses and brands and will support the country's objectives of introducing technological solutions and help deliver environmental sustainability for the Kingdom of Saudi Arabia".