Partnership Reinforces Commitment to U.S. Solar Manufacturing and American Jobs

Shoals Technologies Group, Inc. ("Shoals") (Nasdaq: SHLS), a global leader in electrical balance of systems ("EBOS") solutions for the energy transition market, announced its continued commitment to investment in domestic manufacturing in Alabama with First Solar, Inc. (Nasdaq: FSLR). This partnership enables the two companies to support the continued reshoring of domestic supply chains for the U.S. solar industry.

"Our longstanding partnership with First Solar is something we are really proud of at Shoals," Brandon Moss, CEO of Shoals stated. "We appreciate First Solar's confidence in our commitment to quality products to support the re-shoring of the solar supply chain. With this ongoing commitment, we are poised to support the growth in domestic electricity demand."

First Solar has demonstrated that the commitment to American solar manufacturing delivers economic benefits and middle-class jobs in communities in Alabama, as evidenced by their recent inauguration of a $1.1 billion Alabama facility, which created over 800 direct manufacturing jobs in the state. First Solar's additional 3.5 GW of solar manufacturing facility, combined with their existing U.S. manufacturing footprint, is supported in part by Shoals' custom junction boxes, manufactured in Alabama. First Solar's Alabama facility, together with three First Solar operating facilities in Ohio, help solidify First Solar's position as the largest solar manufacturer in the Western Hemisphere. In 2023, First Solar also announced a $1.1 billion investment in a fifth U.S. facility, located in Louisiana.

"I want to congratulate Shoals Technologies on their partnership with First Solar, marking another important step in reshoring America's solar supply chain," Muscle Shoals, Alabama Representative, Robert Aderholt stated. "It's great to see Alabama-made products, like the junction boxes being produced here, playing a key role in strengthening our domestic energy technology manufacturing sector. First Solar's $1.1 billion Alabama facility is a testament to the innovation and economic growth happening in our state. I look forward to continuing to support policies that bring jobs and industry back home."

The long-term growth alignment with First Solar enables Shoals to continue to invest in American jobs at its Alabama facility, while also supporting the expansion of attractive market segments.
"As America stands on the brink of major economic growth, it's more important than ever to quickly roll out all kinds of homegrown power generation technology to fuel this progress," Representative Dale Strong said. "I'm glad to see Shoals Technologies Group and First Solar teaming up to make sure Alabama-made technology is driving our energy future and contributing to our nation's success."

About Shoals Technologies Group
Shoals Technologies Group 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 is a recognized leader in the renewable energy industry. For additional information, please visit: https://www.shoals.com.