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Singapore, November 17, 2021 /PRNewswire/ - Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar energy innovation and channels, announced today that it has signed an agreement to provide it with up to 400 megawatts of solar energy. Efficiency double-sided performance 5 UPP solar panels for the construction of the Danish Fields solar power plant project near Houston, Texas, USA. The project will require modules to be delivered between the end of 2022 and the third quarter of 2023.

Maxeon’s 21% efficiency Performance 5 UPP solar panels provide excellent value through a proprietary shingled design, which improves reliability and efficiency, enhances durability to reduce system life energy costs, and in partial shades and Partial shading and other actual conditions are better than the temperature of the traditional panel output. The Performance 5 UPP module is particularly suitable for the needs of power plant developers and is part of a comprehensive and efficient product portfolio. Maxeon is expected to launch next-generation Performance series modules in 2022. These next-generation Performance series modules will continue to differentiate Maxeon's technology from other utility-scale modules available.

Jeff Waters, CEO of Maxeon Solar Technologies, said: "We commend TotalEnergies for using our high-performance modules to ensure long-term value and low-carbon energy for Texas homes and businesses." "Innovative and long-standing. Tested performance is a hallmark of our advanced Performance technology, which now powers more than 7 GW of installations worldwide. In addition, our transparency and commitment as a module supplier ensures that companies like TotalEnergies can maintain their competitiveness and projects Execution timetable. We see great opportunities in the power plant market in the United States and elsewhere, and believe that Maxeon has unique advantages to provide owners and operators with maximum energy production and reliable long-term investment returns."

It is expected that the Danish Fields solar power plant project will utilize Maxeon's new Performance series module capacity, which will serve the US solar market. The production line will utilize the large-scale G12 monocrystalline PERC solar cells produced by Maxeon in Malaysia and will be assembled at Maxeon's plant in Mexicali, Mexico.  

To learn more about Maxeon's fifth-generation shingled double-sided solar panels for solar power plants and our latest technological innovations, please visit our website.

About Maxeon Solar Technologies Maxeon Solar Technologies (NASDAQ: MAXN) is powering Positive Change™. Headquartered in Singapore, Maxeon designs and manufactures Maxeon® and SunPower® brand solar panels, and has sales operations in more than 100 countries/regions, and conducts business under the SunPower brand in some countries/regions outside the United States. The company is a leader in solar energy innovation, with more than 1,000 patents and two first-class solar panel product lines. Maxeon products cover the global rooftop and solar power plant market through a network of more than 1,200 trusted partners and distributors. As a pioneer in sustainable solar manufacturing, Maxeon has a 35-year history in the solar industry and has won numerous awards for its technology. For more information on how Maxeon is driving Positive Change™, please visit us at www.maxeon.com, LinkedIn and 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 timing and the company’s expectations for the success and profitability of its expansion strategies and plans. Projects in existing and new markets; the company's expectations of customer demand, pricing trends, and growth forecasts; the company's expectations of future performance based on our technology prospects, sales channel reservations and pipelines, and the operational efficiency of our supply chain; and The company's expectation of future revenue from contract orders, including advance payments. These forward-looking statements are based on our current assumptions, expectations and beliefs, and involve significant risks and uncertainties, which may cause results, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. These factors and other risks affecting our business are discussed in detail in the documents we file with the U.S. Securities and Exchange Commission ("SEC") from time to time, including our recent report on Form 20-F, especially under the heading "Project 3.D. . Risk factors." Copies of these documents are available online from the SEC, or in the "Finance and Filing" 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 based on new information or future events.

© 2021 Maxeon Solar Technologies, Ltd. All rights reserved. MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd. Please visit https://corp.maxeon.com/trademarks for more information.

Source: Maxeon Solar Technologies, Ltd.

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