Shoals Technologies Group, Inc. Releases Inaugural Environmental, Social and Governance (ESG) Report

– Inaugural report highlights company’s accomplishments and approach to ESG strategy –

PORTLAND, Tenn., Dec. 15, 2022 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (Nasdaq: SHLS), a leading provider of electrical balance of system (“EBOS”) solutions for solar, battery storage, and electric vehicle charging infrastructure, today announced the publication of its 2021 Environmental, Social, and Governance (ESG) Report.

The report, which captures data and findings predominantly from the period between January 1st and December 31, 2021, was compiled using a three-step approach to identify, prioritize, and verify ESG risks and opportunities specific to Shoals. This process involved the consideration of widely-accepted ESG frameworks including the Value Reporting Foundation’s Sustainable Accounting Standards Board (SASB) Standards, as well as the United Nations Sustainable Development Goals (UN SDGs).

“Integrating environmental, social, and governance practices is core to the way we operate and approach our strategic goals,” said Jason Whitaker, CEO of Shoals. “Whether creating opportunities for solar energy and eMobility or building an inclusive work environment, we are rising to the challenges of our collective sustainability ambitions and the interests of the people and communities around us.”

The report highlights Shoals’ efforts prioritizing environmental stewardship, social commitments, and governance responsibilities, which include:

• Aligning to five UN SDGs , illustrating successful efforts in driving tangible solutions to overcome global challenges such as climate change, scaling clean energy, and expanding economic opportunities among others.
• Making our production and installation of our products safer for our employees and partners.
• Embracing diversity, equity, and inclusion throughout our Company.
• Upholding strong ethical standards and integrity across all our business activities with our Code of Ethics and Whistleblower Policy.

The full report is publicly accessible on Shoals’ website at the following link: www.shoals.com/esg

About Shoals Technologies Group, Inc.
Shoals Technologies Group, Inc. is a leading provider of electrical balance of systems (EBOS) solutions for solar, storage, and electric vehicle charging infrastructure. Since its founding in 1996, the Company has introduced innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability. Shoals Technologies Group, Inc. is a recognized leader in the renewable energy industry whose solutions are deployed on over 20 GW of solar systems globally. For additional information, please visit: https://www.shoals.com.

Contacts
Investors:
Email: investors@shoals.com
Phone: 615-323-9836

Media:
Email: media@shoals.com

Forward-Looking Statements

This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements include information concerning the new officers’ potential contributions, our possible or assumed future results of operations, business strategies, technology developments, financing and investment plans, dividend policy, competitive position, industry and regulatory environment, potential growth opportunities and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” "seek," “should,” “will,” “would” or similar expressions and the negatives of those terms.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include changes to Jason Whitaker’s, our Chief Executive Officer, circumstances, inability to find a new Chief Executive Officer, the impact of the announcement of the Chief Executive Officer succession and other officer appointments or departures on the Company’s stock and its employees, suppliers and customers, and other risks and uncertainties described in the Company’s most recent Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on forward-looking statements. Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date of this press release. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.