SunPower Invests in America's Clean Energy Transition with Three New Grants

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SunPower announces new grant programs to ensure solar benefits all Americans

Positive

• SunPower Foundation investing in projects for a solar-for-all future
• Grants available for workforce development, industry equity, and solar adoption in underserved communities

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• None.

SunPower Foundation seeking applications for clean energy education and workforce training programs that target underrepresented groups

RICHMOND, Calif., Sept. 6, 2023 /PRNewswire/ -- SunPower (NASDAQ:SPWR), a leading residential solar technology and energy services provider, today announced three new grant programs to ensure solar benefits all Americans. These grants are funded by SunPower Foundation, the company's philanthropic arm, with the intent to foster an equitable clean energy transition.

"The climate crisis most severely impacts individuals from underserved communities that are less prepared and have limited financial resources to address these impacts," said Maribelle Bostic, head of diversity, equity and inclusion at SunPower. "A livable climate is a fundamental human right which relies on the adoption of clean energy solutions. SunPower Foundation invests in projects that move us closer to a solar-for-all future and mitigate climate change in a meaningful way."

The funding is available for 501(c)(3) nonprofit organizations that are advancing clean energy equity across the U.S., including:

1. Workforce Development Grant for increasing workforce diversity in solar by providing career opportunities for women, minorities and people of color. This includes training programs, career awareness and STEM education.
2. Minority and Women Owned Business Enterprise (MWBE) Grant for ensuring industry equity and supporting entrepreneurs in solar with coaching and business development.
3. Solar Accessibility, Affordability, and Resiliency Grant for helping communities that have been historically underserved or impacted by climate disasters adopt solar solutions.

This effort builds on the progress SunPower has made toward its 25x25 commitments to make the economic and resiliency benefits of solar and battery storage available to all Americans. Qualified entities can apply for grants between $5,000 to $100,000 annually. The initial application window is open now and through Oct. 20; recipients will be announced by the end of the year.

Since inception, SunPower Foundation has awarded over $1 million in grants to expand access to solar. Previous recipients include GRID Alternatives, Habitat for Humanity of Greater Sacramento and Solar Energy International (SEI) among others. To apply or learn more, visit www.sunpower.com/foundation.

About SunPower
SunPower (NASDAQ:SPWR) is a leading solar, storage and energy services provider in North America. SunPower offers solar + storage solutions designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners. 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 expected business plans and timing and cost savings. 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. Factors that could cause or contribute to such differences include, but are not limited to, regulatory changes and the availability of economic incentives promoting use of solar energy and fluctuations or declines in the performance of our solar panels and other products and solutions. 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 reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpower.com. 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.

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SOURCE SunPower Corp.