Channel expansion to promote high-quality solar in fast growing markets

SINGAPORE, Oct. 29, 2020 — Maxeon Solar Technologies, Ltd., (NASDAQ:MAXN), a global leader in solar innovation, today announced the launch of the SunPower Advantage Installer Program, a new initiative designed to help fuel the momentum of solar in certain rapidly growing European markets and to equip installers with tools to meet increasing demand for premium residential and commercial solar. The SunPower Advantage Installer Program has been introduced in Norway, Sweden, Denmark, Poland, Portugal and Spain.

"Maxeon has a great history of developing strong sales channels throughout the EMEA and APAC regions for over a decade," said Jeff Waters, CEO at Maxeon Solar Technologies. "The new SunPower Advantage Installer Program is the result of years of listening to installer needs, and it is just the first step in a wider expansion strategy that will extend our downstream footprint in high-growth residential and commercial markets".

The new initiative helps solar installers stay at the leading edge of technology and innovation, growing their business through specialized education and supporting the deployment of first-rate solar solutions.

The SunPower Advantage Installer Program includes:

• Specialized Training – Educational modules will be delivered through a virtual platform to ensure professional installers are able to capitalize on the highest SunPower brand standards and installation expertise to build new business;
• Expert Knowledge – A regular distribution of the latest news, technology and new product insights will allow installers to stay updated and ready to take advantage of market developments;
• Labour Reimbursement Program – Qualifying SunPower Advantage Installers will be eligible for our Labour Reimbursement Program, which offers a rebate payment to offset a portion of the service/labor costs incurred by the installer during panel replacements under warranty;
• Best-in-Class Reward System – Each time installers register their purchased modules through a scan app, they get points which are credited on their account, which can be redeemed for items in the SunPower Advantage Installer reward catalogue.

On completion of the specialized educational modules, installers are evaluated on their technical knowledge and competence, with passing scores qualifying them to proudly display the SunPower Advantage Installer badge.

"The SunPower Advantage Installer Program will enhance the already superior customer experience and state-of-the-art installations that our installers provide day in day out. A highly trained, qualified and expert installer network is a key to customer peace of mind."

The SunPower Advantage Installer Program is free of charge to the installers. More details are available here or on the SunPower Advantage Program website.

About Maxeon Solar Technologies
Maxeon Solar Technologies (NASDAQ: MAXN) is Powering Positive Change™. Headquartered in Singapore, Maxeon designs and sells SunPower® brand solar panels across more than 100 countries and 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™ visit us at www.maxeon.com, on LinkedIn and on Twitter @maxeonsolar.

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: (a) our plans and expectations for our products and planned products, including the timing and scope of planned launches and rollouts, and anticipated demand; (b) our expectations regarding our industry and market factors, including anticipated demand and volume; (c) our 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 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 for more information.

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