Maxeon's SunPower One Home Energy Solution Now Available in Europe and Australia

- The Company will showcase its ecosystem of residential energy products as part of an installerroadshow in 13 cities across Europe

SINGAPORE,Sept. 28,2023 -- Maxeon Solar Technologies,Ltd. (NASDAQ:MAXN),a global leader in solar innovation and channels,today announced that its SunPower One ecosystem of products and services is now available through authorized dealers and installers in Belgium,France,Italy,Spain,and Australia. To celebrate this milestone,the Company has organized a European tour where installers can receive training and observe hands-on demonstrations as well as acquire the necessary certifications to install SunPower One products. The roadshow kicks off in Antwerp,Belgium,and will continue for two months across Europe,stopping in 13 cities.

SunPower One is on tour!

Following this phase,the company plans to roll-out the SunPower One ecosystem to other countries across Europe in the final quarter of 2023 and to additional markets in 2024.

SunPower One is an ecosystem of industry-leading products that enable consumers to take control of their domestic energy consumption and optimize the use of the clean energy they produce. The suite of products within the ecosystem includes the company's high-efficiency residential solar panels,the new all-in-one SunPower Reserve storage system,the upcoming SunPower Drive EV charging solution and a range of other energy services and integrations.

All of these products and services are tied together by a reimagined consumer experience inside the SunPower One app for homeowners. The SunPower One app goes beyond just monitoring the output of a homeowner's solar panels,and proactively offers users energy insights that show in detail the devices that are consuming electricity in the home,highlighting opportunities to better utilize PV production,battery capacity,and EV charging scheduling to enhance financial savings.

In June 2023,Maxeon announced a collaboration with Samsung Electronics Co.,Ltd. to integrate the SunPower One app into the SmartThings' connected home platform so that homeowners will be able to automatically manage even more devices around the home to optimize their energy consumption.

"Homeowners are now seeking more control over their energy consumption and they recognize the value of investing in top-quality,high-performing energy systems," said Mark Babcock,Chief Revenue Officer at Maxeon Solar Technologies. "With Maxeon's high performance solar panels as the underlying,enabling technology,SunPower One gives homeowners much more control over the amount of energy their home uses and allows them to use it more efficiently."

"We are thrilled about the new SunPower One offer for Italy as it combines the superior performance of the best-of-breed solar panel technology with other hardware and software to create a full ecosystem – all packaged under one single brand for a unique,seamless experience," saidDaniele Botti,Managing Director at Kennew,SunPower Elite Partner,Italy. "Maxeon is once again demonstrating that it is a pioneer not just in solar solutions but also in energy management."

"The new SunPower One brings a distinctive proposition in our product and solutions portfolio and will help us approach our customers in a different manner,with a complete premium offering defined by a very compelling value proposition for home-owners in search of a brand they can trust on as well as products that help them become smarter actors of the energy transition. In addition to the benefits of enhanced energy efficiency,it also strengthens the relationship between customers and installers,allowing us to suggest to our customers opportunities to optimize the use of their systems,and even expand them when time is right," commented Daniel Vanwetswinkel,Chairman at SolarPower partners,Belgium.

SunPower One will also provide a modern and efficient experience for SunPower installers with one single app to commission all the products and services within the SunPower One ecosystem. This will streamline commissioning times for SunPower Reserve and Drive to industry-leading benchmarks or better,allowing installers to finish their jobs faster and increase their business velocity. SunPower One also includes a new digital experience to better support the installer sales cycle,including one consolidated account from which to access marketing collateral,product training,and warranty registration.

"Moving beyond panels is not just about introducing new products but leveraging our technological prowess to accelerate the adoption of clean energy. Our investments in improving the digital experience of our customers,combining industry-leading easy-to-install hardware with innovative services,and expanding the solution with integrations like Samsung SmartThings all help to solve pain points for consumers and installers," said Ralf Elias,Chief Product Officer at Maxeon.

During the SunPower One Tour,besides technical training and products certification for installers,homeowners will have the chance to interact with SunPower One complete Home Energy Management and get the real SunPower One experience. To know more: info@sunpoweroneontour.com.

Australian customers will get the latest about the SunPower One Home Energy Experience at Maxeon's booth,VV131,during All Energy Australia,this October 25-26.

About Maxeon Solar Technologies

Maxeon Solar Technologies (NASDAQ:MAXN) is Powering Positive Change™. Headquartered inSingapore,Maxeon designs and manufactures Maxeon® and SunPower® brand solar panels,and has sales operations in more than 100 countries,operating under the SunPower brand in certain countries outsidetheUnited States. The Company is a leader in solar innovation with access to over 1,000 patents and two best-in-class solar panel product lines. Maxeon products span the global rooftop and solar power plant markets through a network of more than 1,700 trusted partners and distributors. A pioneer in sustainable solar manufacturing,Maxeon leverages a 35-plus-year history in the solar industry and numerous awards for its technology. For more information about how Maxeon is Powering Positive Change™ visit us atwww.maxeon.com,on LinkedIn and on Twitter @maxeonsolar.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,as amended,and Section 21E of the Securities Exchange Act of 1934,including,but not limited to,statements regarding anticipated partnership,product and service launch timing and our expectations regarding ramp,customer acceptance and demand,market traction,upsell and expansion opportunities; the company's expectations of the timing,utility,performance and success of its product offering strategy in existing and new markets; the Company's expectations regarding the environmental and sustainability benefits of its product offering; the company's expectations and plans for short- and long-term strategy,including our anticipated areas of focus and investment,market expansion and product and technology focus. 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 Securities and Exchange Commission ("SEC") from time to time,including our most recent report on Form 20-F,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 https://corp.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.

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