Maxeon to supply Origis Energy with 400MW of solar modules

Origis will acquire high-efficiency shingled bifacial Performance line solar modules for utility-scale projects in the United States.

Maxeon Solar Technologies announced it will supply Origis Energy with about 400MW of its high-efficiency shingled bifacial Performance line solar modules for use in utility-scale projects in the United States.

Maxeon was spun off from SunPower in August 2020, when the two companies became independent. Solar modules of the Performance line are based on Maxeon's shingled cell technology, which was initially developed by SunPower. 83 issued patents protect the technology. According to Maxeon, the 425W modules utilise bifacial mono-PERC solar cells on big format eight-inch G12 wafers and have a 20.6 percent efficiency.

Origis Energy is a solar and energy storage company that specialises in solar and energy storage projects for utility, commercial, and industrial clients. Origis, headquartered in Miami, Florida, has built more than 4GW of solar and energy storage capacity through 170 projects globally. Additionally, the company offers financial services, engineering, procurement, and construction (EPC), as well as operations, maintenance, and asset management.

"Maxeon continues to be a leader in sustainability activities, including its environmental, sustainability, and governance leadership" (ESG). All Origis stakeholders, from investment partners to utilities and corporate energy customers, place a premium on ESG factors. We look forward to a fruitful partnership with the Maxeon team," stated Guy Vanderhaegen, Chief Executive Officer and President of Origis Energy.

Module deliveries will begin in June 2023 and end in December 2023.

Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar innovation and distribution, announced today that it will supply approximately 400 megawatts (MW) of its high efficiency shingled bifacial Performance line solar modules to Origis Energy, one of America's top ten solar and energy storage developers. Module deliveries will begin in June 2023 and end in December 2023.

"This 400 MW contract with Maxeon Solar Technologies is critical in completing Origis' substantial solar portfolio. Maxeon technology will assist us in ensuring that our solar plants fulfil performance targets in order to supply clean, competitively priced electricity to our consumers throughout the United States "Guy Vanderhaegen, Origis Energy's Chief Executive Officer and President, stated. "Additionally, Maxeon remains a pioneer in sustainability activities, exemplified by its leadership in the areas of Environment, Sustainability, and Governance (ESG). All Origis stakeholders, from investment partners to utilities and corporate energy customers, place a premium on ESG factors. We look forward to collaborating with the Maxeon team in the future."

The Performance line solar modules are manufactured using advanced, proprietary techniques and incorporate Maxeon's shingled cell technology, which is covered by 83 awarded patents. The Performance line utilises bifacial mono-PERC solar cells manufactured on large format eight-inch G12 wafers to deliver industry-leading efficiency, greater shadow tolerance, and unmatched durability, all of which contribute to lower system lifetime energy costs.

"We are honoured to have been chosen as a long-term partner by Origis Energy," stated Jeff Waters, CEO of Maxeon Solar Technologies. "Origis' investment in our Performance line demonstrates the technology's superior performance, longevity, and dependability, as well as its competitiveness, over conventional solar panels. Additionally, it demonstrates utility-scale clients' confidence in our ability to keep our commitments."

MAXEON SOLAR TECHNOLOGIES ABOUT MAXEON SO

MAXEON SOLAR TECHNOLOGIES, INC. (NASDAQ: MAXN) is a company dedicated to Powering Positive ChangeTM. Maxeon, headquartered in Singapore, designs and produces solar panels under the Maxeon® and SunPower® brands and operates sales activities in more than 100 countries, with select markets outside the United States operating under the SunPower name. With over 1,000 patents and two best-in-class solar panel product lines, the company is a market leader in solar innovation. Maxeon products are distributed globally through a network of over 1,400 trusted partners and distributors. Maxeon is a pioneer in sustainable solar manufacturing, with a 35-year experience in the solar sector and multiple technology awards. Visit www.maxeon.com, LinkedIn, or Twitter @maxeonsolar for more information about how Maxeon is Powering Positive ChangeTM.

Concerning Origis Energy

Origis Energy enables utility, commercial, industrial, and public sector clients to access clean and cost-effective solar and energy storage solutions. Origis has worked to protect the interests of all stakeholders in 170 projects globally, totaling more than 4 GW of produced solar and energy storage capacity to date. Origis Energy, headquartered in Miami, FL, provides investors and clean energy users in the United States with expertise in solar and energy storage development, financing, engineering, procurement, and construction (EPC), as well as operations, maintenance, and asset management.

Future-Oriented 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 about the timing and expectations of the company's expansion strategy and planned projects in existing and new markets; the company's expectations regarding customer demand, pricing trends, and growth projections; and the company's expectations regarding future performance. These forward-looking statements are based on our current assumptions, expectations, and beliefs and are subject to significant risks and uncertainties that could cause actual results, performance, or achievement to differ materially from those expressed or implied in these forward-looking statements. A more thorough explanation of these and other risks affecting our company can be found in periodic filings with the Securities and Exchange Commission ("SEC"), most recently in our most recent report on Form 20-F, specifically under the heading "Item 3.D. Risk Factors." Copies of these filings are available online through the SEC or on our Investor Relations website under the Financials & Filings section at https://corp.maxeon.com/financials-filings/sec-filings. All forward-looking statements contained in this press release are based on information currently available to us, and we disclaim any duty to update them in light of new information or future events.