The New SunPower Maxeon 5 AC Module System Now Shipping in Europe

The company continues to execute on product expansion strategy

Advanced solar solution ready to address customer needs and new demand dynamics

SINGAPORE, Dec. 10, 2020 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. , a global leader in solar innovation operating the SunPower brand worldwide except the United States and Canada, today announced that the new Maxeon 5 AC Module is immediately available through authorized SunPower dealers and installers in Belgium, France, Germany, Luxemburg, Malta, the Netherlands and Switzerland. The new Maxeon 5 AC Module is an improved offering that enhances safety and increases energy production for homeowners.

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"European customers are becoming more and more demanding with their solar purchases, recognizing the importance of investing in top quality and high performing solar for their increasing domestic energy demand," said Vincent Maurice, General Manager DG EMEA at Maxeon Solar Technologies. "At Maxeon, our objective is to provide our customers with industry-leading power, performance and production efficiency. The new Maxeon 5 AC can provide up to 50% more energy than conventional solar systems over 25 years, and superior output in real-world conditions."

The new Maxeon 5 AC Module will provide SunPower dealers and installers with the advantages of improved capital management, through simplified logistics and operations and accelerated design. In short, a faster, simpler, safer and more cost-effective installation.

"We are excited about the new Maxeon 5 AC Module as it combines the world's most advanced microinverter technology from Enphase with the superior performance of the SunPower Maxeon solar cell technology," said Peter van Laere, General Manager at ABC Zonnepanelen, the Netherlands. "As an EPC Contractor, we aim to exceed customers' expectations by providing the best solar system designed specifically for their needs, one that maximizes energy production with a relatively short payback period. The Maxeon and Enphase coupling allows us to offer an off-the-shelf solution to meet those goals."

"The new Maxeon 5 AC Module will completely change the way we approach our customers, with a premium offering defined by an extremely competitive value proposition, backed by combined 25 year warranties that will stand the test of time, and an AC architecture that will easily allow system expansion at a later date," commented Luc Pasquier, General Manager at 6nergies, France. "As an installer, we will save money from simplified design, purchasing, warehousing and transport, as well as faster installation cycle times. This is the best product on the market for all."

"We selected the new Maxeon 5 AC Module as the exclusive technology for our bundled residential solar offer as we think it creates a paradigm shift in the performance of solar energy," added Paulo De Araujo, co-owner of Courant Naturel, France. "This innovative concept maximizes the energy production regardless of the type of roof or space constraint. The flexibility and ease-of-installation of the new Maxeon 5 AC Module provides an ideal solution for the French solar market."

"We truly believe that our AC modules are the future of residential solar in Europe, and today we are taking an important step to accelerating adoption. This is just the first phase of our AC module expansion strategy in the region, as we plan to roll-out the technology to other countries in the first quarter of 2021," concluded Vincent Maurice.

For more information, visit https://sunpower.maxeon.com/int/products/sunpower-maxeon-5-ac-module [https://c212.net/c/link/?t=0&l=en&o=3008226-1&h=3508316171&u=https%3A%2F%2Fsunpower.maxeon.com%2Fint%2Fproducts%2Fsunpower-maxeon-5-ac-module&a=https%3A%2F%2Fsunpower.maxeon.com%2Fint%2Fproducts%2Fsunpower-maxeon-5-ac-module].

About Maxeon Solar Technologies Maxeon Solar Technologies is Powering Positive Change(TM). Headquartered in Singapore, Maxeon designs, manufactures and sells SunPower® brand solar panels in more than 100 countries, operating the SunPower brand worldwide except the United States and Canada. The company is the leader in solar innovation with access to over 900 patents and two best-in-class solar panel product lines. With operations in Africa, Asia, Oceania, Europe and Mexico, Maxeon products span the global rooftop and solar power plant markets through a network of more than 1,100 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. For more information about how Maxeon is Powering Positive Change(TM) visit us at www.maxeon.com [https://c212.net/c/link/?t=0&l=en&o=3008226-1&h=2877976243&u=https%3A%2F%2Fwww.maxeon.com%2F&a=www.maxeon.com], on LinkedIn [https://c212.net/c/link/?t=0&l=en&o=3008226-1&h=2338347807&u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fmaxeon%2F&a=LinkedIn] and on Twitter @maxeonsolar [https://c212.net/c/link/?t=0&l=en&o=3008226-1&h=277305880&u=https%3A%2F%2Ftwitter.com%2FMaxeonSolar&a=%40maxeonsolar].

Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the availability, safety, cost competitiveness, estimated energy production, and other benefits of our Maxeon 5 AC Modules independently and as related to other competitive systems. 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 SEC from time to time, including our Form 20-F, which was declared effective by the SEC on August 4, 2020, 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 www.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.

© 2020 Maxeon Solar Technologies, Ltd. All Rights Reserved. MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd. Visit www.maxeon.com/trademarks [https://c212.net/c/link/?t=0&l=en&o=3008226-1&h=3487423087&u=http%3A%2F%2Fwww.maxeon.com%2Ftrademarks&a=www.maxeon.com%2Ftrademarks] for more information.

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Photo - https://mma.prnewswire.com/media/1372487/SunPower_Maxeon_5_AC_Module_System.jpg [https://c212.net/c/link/?t=0&l=en&o=3008226-1&h=2105275165&u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1372487%2FSunPower_Maxeon_5_AC_Module_System.jpg&a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1372487%2FSunPower_Maxeon_5_AC_Module_System.jpg] Logo - https://mma.prnewswire.com/media/1275353/Maxeon_Logo_Open_Blue_RGB2_Logo.jpg [https://c212.net/c/link/?t=0&l=en&o=3008226-1&h=1601205256&u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1275353%2FMaxeon_Logo_Open_Blue_RGB2_Logo.jpg&a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1275353%2FMaxeon_Logo_Open_Blue_RGB2_Logo.jpg]

CONTACT: Investor Contact: The Blueshirt Group, Gary Dvorchak, CFA, gary@blueshirtgroup.com, Mobile: +1 (323) 240-5796 or Media Contact: Anna Porta, Anna.Porta@Maxeon.com, Mobile: +39 (345) 7706205

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