The New SunPower Maxeon 5 AC Module Now Available in Australia

Australia's first factory-integrated AC Module ready to change the residential solar system paradigm

SINGAPORE,Feb. 2,2021 --Maxeon Solar Technologies,Ltd. (NASDAQ:MAXN),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 its authorised partner channel in Australia. The new Maxeon 5 AC Module is the first module to offer a factory-integrated microinverter to enhance safety and increase reliable energy production for Australian homeowners.

The new Maxeon 5 AC Module.

"Australians are smart consumers who want their home solar systems to be powerful and reliable," said Chris O'Brien,Vice President and Managing Director of Australia at Maxeon Solar Technologies. "Thanks to the new Maxeon 5 AC Module,we are offering Australia's most powerful residential module integrated with an individual microinverter,fully wrapped with Australia's strongest 25-year product warranty. This system provides homeowners with enhanced performances to maximise their savings."

The new Maxeon 5 AC Module will provide Maxeon's partners with the advantages of improved capital management,through simplified logistics and operations and accelerated design cycles. For homeowners this advanced solar solution can provide up to 50% more energy than conventional solar systems over 25 years,with superior output in real-world conditions.

"The new Maxeon 5 AC Module offers a greater value proposition to homeowners,ensuring long-term performance and reliability and combined 25-year warranties that will stand the test of time," commented Trent Amber,Director of AG Solar,Australia. "The AC architecture allows each customer to receive a custom designed system that will easily allow expansion or storage if their energy needs grow or change in the future."

"This exceptional concept delivers maximum power production regardless of the type,size or shape of the roof," said Kurt Pamvouxoglou,Director of City to Surf Solar. "A simplified system design combined with the flexibility and ease-of-installation of the new Maxeon 5 AC Module makes it an optimal solution for the Australian solar market. We are excited about offering Maxeon 5 AC Modules to our customers."

"Maxeon continues to execute on its product expansion strategy,delivering state-of-the-art products that have innovation ingrained in their DNA," complemented O'Brien. "With the introduction of Australia's first ever factory-integrated AC module,we believe this is the future of residential solar. This module technology will shift the paradigm of home solar and will provide Australians with the peace of mind they are looking for when investing in a high-quality photovoltaic system."

For more information,visit https://sunpower.maxeon.com/au/solar-panel-products/sunpower-maxeon-5-ac-module.

About Maxeon Solar Technologies

Maxeon Solar Technologies (NASDAQ:MAXN) is Powering Positive Change™. 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 a 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 LinkedInand 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 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.

© 2021 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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