SunPower Appoints Marketing Director to Reintroduce Solar Power to Homeowners

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SAN JOSE, California, December 28, 2021 / PRNewswire / – SunPower Corp. (NASDAQ: SPWR), a leading provider of solar technology and energy services, today announced the appointment of veteran consumer marketing June Sauvaget as the company’s chief marketing officer (CMO) .

As the adoption of solar energy accelerates – on track to grow by more than 25% year over year according to Wood Mackenzie – the typical owner of solar energy is transforming to include consumers of all generations, regions and income groups. Despite continued growth, residential solar is still in its infancy, used by less than 4% of households. A seasoned expert in the intersection of product, brand and experience, Sauvaget will help guide SunPower to engage the new and future solar user.

“Today’s announcement underscores our continued commitment to inspire more homeowners to choose SunPower when and where they decide to go solar,” said Pierre Faricy, CEO, SunPower. “June has a proven track record of building some of the world’s most iconic consumer brands and her leadership will be essential in reimagining the way solar companies market, innovate and operate. “

Sauvaget brings more than two decades of experience in introducing and scaling global brands to international markets, including serving as Global Head of Consumer and Product Marketing for Spotify. She introduced the music streaming platform to new audiences, including the launch of the service in Asia, Middle East and Africa. Prior to Spotify, Sauvaget worked with Shiseido and Gap to grow in high priority emerging markets. Sauvaget will strive to solidify SunPower’s position as an accessible supplier of solar and battery-powered storage to homeowners from all walks of life, including historically marginalized communities.

SunPower Business and Industry Solutions Business Update
As part of its growing focus and investments in its residential and light commercial operations, the company announced earlier this year that it is exploring strategic options for its commercial and industrial solutions (CIS), which serves the public and private. As a result of this review, SunPower has decided to continue selling the CIS business. This decision was made to optimize the deployment of SunPower’s capital, while allowing CIS to better leverage its growing addressable opportunities such as community solar storage and front-end storage. SunPower is in advanced talks regarding a potential sale of its CIS business. The company is looking to finalize talks as early as Q1 2022, with a primary focus on residential in 2022 and beyond.

“Solar power is becoming an integral part of the fabric of America and, with the right partner, the business enterprise has the opportunity to tackle climate change on a bigger stage. The potential buyer shares CIS strategic and financial goals as a champion of affordable, reliable products and clean energy solutions with the appropriate expertise, track record and capital resources for large-scale solar and storage projects Added Faricy.

About SunPower
Based in Silicon Valley, California, SunPower (NASDAQ: SPWR) is a leading provider of storage and distributed generation energy services in North America. SunPower offers the only company-designed and guaranteed solar + storage solution that empowers customers to control power consumption and resiliency during power outages while delivering savings to homeowners, businesses, governments, schools and public services. For more information visit www.sunpower.com.

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 anticipated market trends and growth, our anticipated sale of CIS, including the timing and certainty, the anticipated benefits of the transaction, our positioning and that of CIS for success in the future, our plans to liquidate existing businesses and our planned future areas of intervention. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performances or achievements materially different from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, challenges in executing a CIS sale transaction and other key transactions for our strategic plans, including regulatory challenges. , logistics and others that may arise; potential disruptions to our operations that may result from epidemics or natural disasters, including the impacts of the Covid-19 pandemic; and changes in the political environment, and the availability of economic incentives for our products. In addition, the planned sale of the CIS business may not be completed within the expected time frame or may not be completed at all and the ultimate results and impact of any transaction will depend on a number of factors, including the negotiation of final agreements and any third party, regulator, and other approvals that may be required in this regard. A detailed discussion of these factors and other risks that affect our business is included in the documents we file from time to time with the Securities and Exchange Commission (SEC), including our most recent reports on Form 10-K and 10-Q, in particular under the heading “Risk factors”. Copies of these documents are available online from the SEC or in the SEC Filings section of our Investor Relations website at investors.sunpower.com. All forward-looking statements contained 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 SunPower Corporation. All rights reserved. SUNPOWER and the SUNPOWER logo are trademarks or registered trademarks of SunPower Corporation in the United States.

SOURCE SunPower Corp.

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