Page 1

SunPower Reports Third Quarter 2021 Results FOR IMMEDIATE RELEASE Contacts : Investors Mike Weinstein 510-260-8585 Mike.Weinstein@sunpower.com Media Sanah Sadaruddin 832-630-3707 Sanah.Sadaruddin@sunpower.com Strong third quarter Residential demand with record lead generation . Growing demand for storage , third quarter storage bookings run rate at $ 80 million , on track for $ 100 million run rate by year end . Reported third quarter financials consistent with previous October 5th business update . Geographic expansion with Blue Raven brings solar to more homeowners across U.S. SAN JOSE , Calif . , November 3 , 2021 - SunPower Corp. ( NASDAQ : SPWR ) , a leading solar technology and energy services provider , today announced financial results for its third quarter ended October 3 , 2021 . Residential demand remains strong with record lead generation and 14,200 new customers , up 29 % versus a year earlier . New homes market accelerated growth with 5,700 new customers in the quarter , more than double when compared to the previous year . " Our decision to increase our focus on the residential market was validated by strong sequential third quarter solar and storage demand and deployment , combined with continued margin expansion , " said Peter Faricy , CEO of SunPower . " The time is now for homeowners to adopt solar energy and storage , with flexible financing options and favorable clean energy incentives currently under consideration by Congress that make it easier for consumers to help fight against the increasing impact of climate change . Along with our recent acquisition of Blue Raven Solar and new leadership hires , there is a bright future for the next phase of SunPower . " Making Solar Accessible to All To meet the goals of a clean energy future in which nearly half of the U.S. is powered by solar , policymakers and corporations must work together to make solar accessible for all customers . With 108 MW of Residential bookings in the quarter , up 36 % versus the prior year , the company's total residential install base has grown to nearly 390,000 , not including 20,000 from the recent acquisition of Blue Raven Solar in October . SunPower's recent efforts to further expand the reach of solar include : Geographic expansion into underpenetrated areas including the Northwest and Mid - Atlantic regions with Blue Raven Solar . Continued leadership in the new homes market with two new agreements with homebuilders , including a multi - year exclusive agreement with Toll Brothers to provide solar , storage and services to new homes and communities .