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Maxeon Solar Technologies Provides Premium Commercial Solar to Betty Barclay Group Headquarters in Germany

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SINGAPORE, June 28, 2021 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN), a global leader in solar innovation and channels, announced today that its industry-leading SunPower Maxeon solar panels are powering the Headquarters of Betty Barclay Group, a leading international retailer of modern women's wear, located in Nußloch, in south-west Germany.

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Covering a surface area of about 3,800 square meters, the 750kWp installation featuring 1724 SunPower Maxeon solar panels, is expected to yield an estimated 765,000 kWh of clean solar energy each year, equivalent to 460,000 kg of annual CO₂ emissions avoided. Betty Barclay Group estimates that more than 90% of the electricity produced, or about 700,000 kWh per year, will be used on-site, with the remaining 10% being fed into the local electricity grid. As a result, Betty Barclay Group will be able to meet about one fourth of its annual electricity needs with this solar system, reducing its own energy cost and profiting from clean energy delivered to local users, for 25 years or more.

Robert Küper, Chief Executive Officer of Betty Barclay Group, mentions the role of the company's philosophy in this undertaking: "At Betty Barclay, we see our responsibility to use natural resources as sparingly and in as much an environmental friendly manner as possible, true to our company claim ʻWe Respect – Humans and Natureʼ. This does not just apply to our products, but to the entire organization. Our solar rooftop installation is an integral part of our sustainability strategy, at the same time it makes economic sense for us. The high efficiency and 25-year product and performance warranty means more energy and cost savings for us in the long term."

Solar Activ, a SunPower Premier Partner since 2012, was chosen to implement the solar installation. Next to the quality of SunPower Maxeon solar panels, their comprehensive guidance and technical expertise were deciding factors for Betty Barclay Group. Due to the challenging conditions of the installation site, a flat roof made of steel rails and concrete tiles, Solar Activ designed a custom mounting system that ensured wind resistance requirements, and delivered an aesthetically pleasing result.

Manuel Peter, founder and managing director of Solar Activ, clarifies the company's approach: "Our goal is to understand our customers and their exact needs to design individual solutions that fit their specific requirements. In doing so, we focus on high-end products of the highest quality. SunPower Maxeon panels are unmatched in efficiency, reliability, durability and robustness, providing higher value to our customers." Peter also praised the sustainability of SunPower Maxeon panels, which earned the Cradle to Cradle Certified—Bronze designation after going through a rigorous evaluation of sustainable practices.

"We value our long-term relationships with sales and installation organizations like Solar Activ, with the commercial and technical expertise needed to satisfy the requirements of our increasingly sophisticated customer base," said Karsten Mosch, National Sales Director Germany, Maxeon Solar Technologies. "Germany is one of largest solar markets, and also one of Maxeon's first. For more than 35 years, our technology has enabled customers to go green and gain independence from fluctuating electricity prices by producing their own long-term solar energy. The winning combination of our leading-edge technology and our qualified partner network enables us to offer superior-quality solar solutions that address increasing self-consumption trends in Germany and in Europe, allowing for a more sustainable future for us and the generations to come."

Maxeon Solar Technologies continues to experience robust demand for its market-leading solar panels with partners like Solar Activ. Increasingly, many commercial and industrial companies in Europe are embracing solar energy as part of their environmental sustainability vision.

To learn more about the leading efficiency and greater returns offered by Maxeon Solar Technologies, please visit https://sunpower.maxeon.com/de/.

About Maxeon Solar TechnologiesMaxeon 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, operating under the SunPower brand in certain countries outside the United 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 1,200 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 the company's expectations regarding customer demand, pricing trends and growth projections; our technology outlook, including anticipated efficiencies of our modules, continued success in technological innovations, delivery of products with features customers demand, and future performance of our modules; and the company's strategic goals and plans, including relationships with existing customers, suppliers and partners, and our ability to maintain them. 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 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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