-- In its first full quarter, the company commits to world's largest corporate 
sustainability initiative

Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar 
innovation, today joined the United Nations Global Compact ( 
https://c212.net/c/link/?t=0&l=en&o=3011211-1&h=3082742923&u=https%3A%2F%2Funglobalcompact.org%2F&a=United+Nations+Global+Compact 
), the world's largest voluntary corporate sustainability initiative. The 
company committed to be a Signatory of the Global Compact in its first full 
quarter of operations from its global headquarters in Singapore, having become 
an independent entity at the end of August 2020.  

Logo - 
https://mma.prnewswire.com/media/1275353/Maxeon_Logo_Open_Blue_RGB2_Logo.jpg

As a special initiative of the UN Secretary-General, the United Nations Global 
Compact is a call to companies everywhere to align their operations and 
strategies with ten universal principles in the areas of human rights, labour, 
environment and anti-corruption, and to take action in support of the United 
Nations Sustainable Development Goals (the Global Goals or SDGs). It includes 
more than 10,000 companies and 3,000 non-business signatories based in over 160 
countries, and more than 60 Local Networks.

"With less than ten years left to meet the UN's 2030 Agenda on sustainable 
development, renewable energy will be a key engine powering both Singapore's 
and the world's decarbonization agenda," said Esther Chang, Executive Director, 
Global Compact Network Singapore. "At Global Compact Network Singapore, 
enabling businesses to transition smoothly to a low-carbon future through 
community and capacity building is a key priority. We warmly welcome Maxeon 
Solar Technologies to the United Nations Global Compact and look forward to 
working alongside them to take decisive action for the SDGs."

As part of its sustainability commitment to solving global issues, Maxeon will 
align its Environmental, Social, Governance (ESG) strategy with the United 
Nations SDGs as it continues to deliver industry-leading technologies to enable 
its customers' decarbonization initiatives. This global framework lays out 17 
goals adopted in 2015 by all 193 Member States of the UN. According to the 
recent foreword from the UN Secretary-General in The Sustainable Development 
Goals Report 2020 ( 
https://c212.net/c/link/?t=0&l=en&o=3011211-1&h=729917967&u=https%3A%2F%2Funstats.un.org%2Fsdgs%2Freport%2F2020%2F&a=The+Sustainable+Development+Goals+Report+2020 
), the ongoing COVID-19 pandemic is threatening lives and livelihoods, exposing 
and exacerbating existing inequalities and injustices making the aspirations of 
achieving the Global Goals even more challenging.

"By broadening our sustainability strategy to the United Nations Global Compact 
and Sustainable Development Goals, we can make an even greater impact on the 
communities we serve in more than 100 countries - especially in this 
unprecedented time when urgent action to support the SDGs is key," said Jeff 
Waters, CEO of Maxeon Solar Technologies, in a blog posted today ( 
https://c212.net/c/link/?t=0&l=en&o=3011211-1&h=1446612132&u=https%3A%2F%2Fwww.maxeon.com%2Fblog%2Fwhy-were-joining-united-nations-global-compact&a=blog+posted+today 
). "It's a commitment inspired by our company purpose, Powering Positive Change 
(TM) ( 
https://c212.net/c/link/?t=0&l=en&o=3011211-1&h=2041604192&u=https%3A%2F%2Fapc01.safelinks.protection.outlook.com%2F%3Furl%3Dhttps%253A%252F%252Fwww.maxeon.com%252Fcompany%252Fpurpose-values%26data%3D04%257C01%257CMichaelJohn.Tonsing%2540maxeon.com%257C7d60c5e2ef224414484c08d88fe8ab7f%257Cac8a6e24a7604d82ac1bf51cb55a9227%257C1%257C0%257C637417576775836576%257CUnknown%257CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%253D%257C1000%26sdata%3DNYmVRF8mSV13gDkPOtS%252FTq3wn0dfBlqnqZbv5aHg04c%253D%26reserved%3D0&a=Powering+Positive+Change 
)-- our steadfast belief that, by constantly improving ourselves, we help 
create a better future for our planet, our stakeholders and our business."

To deliver its external commitments to the UN Global Compact, Maxeon has 
bolstered its internal team naming Lindsey Wiedmann, Chief Legal Officer, as 
the company's Global Environment, Social, Governance (ESG) Executive Leader. 
Wiedmann will head a team of ESG experts with direct experience with the UN 
Global Compact. Matthew Kasdin, Director, Senior Counsel, was a Legal Advisor 
to the UN Global Compact and Principles for Responsible Investment (PRI) 
initiatives, and was a member of the UN Development Program Stakeholder 
Advisory Committee on Climate Change. He was recently joined by Alvin Seo, 
Global ESG Lead, who was one of ten people worldwide honored in 2019 as an 
United Nations Global Compact SDG Pioneer ( 
https://c212.net/c/link/?t=0&l=en&o=3011211-1&h=1018763325&u=https%3A%2F%2Fwww.unglobalcompact.org%2Fsdgs%2Fsdgpioneers%2F2019%2Falvin&a=United+Nations+Global+Compact+SDG+Pioneer 
) to recognize individuals in businesses championing sustainability and 
mobilizing companies to be a force for good.

"At Maxeon, we are driven by the opportunity to give people everywhere the 
power to make a positive impact on our world, with intense focus on 
decarbonizing our planet.  We are proud of our legacy in raising the bar for 
the entire solar industry, and eager to join the UN Global Compact and continue 
this important work with like-minded organizations and companies that 
prioritize environmental, social and governance stewardship through the 
advancement of the Sustainable Development Goals," concluded Wiedmann.      

For more on Maxeon's ESG effort, please visit: https://www.maxeon.com/esg. 

About Maxeon Solar Technologies 
Maxeon Solar Technologies (NASDAQ:MAXN) is Powering Positive Change(TM). 
Headquartered in Singapore, Maxeon designs, manufactures and sells SunPower® 
brand solar panels in more than 100 countries, operating the SunPower brand 
worldwide except the United States and Canada. The company is a leader in solar 
innovation with access to over 900 patents and two best-in-class solar panel 
product lines. A Signatory to the UN Global Compact and supporter of UN Global 
Goals, Maxeon is a forerunner in solar sustainability with industry-first green 
credentials in panels and a fleet of five LEED-certified facilities. With 
operations in Africa, Asia, Oceania, Europe and Mexico, Maxeon products span 
the global rooftop and solar power plant markets through a network of more than 
1,100 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 ( 
https://c212.net/c/link/?t=0&l=en&o=3011211-1&h=3261642948&u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fmaxeon%2F&a=LinkedIn 
) and on Twitter @maxeonsolar ( 
https://c212.net/c/link/?t=0&l=en&o=3011211-1&h=1502591427&u=https%3A%2F%2Ftwitter.com%2FMaxeonSolar&a=%40maxeonsolar 
).

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 extent and effectiveness of the company's 
efforts to align its Environmental, Social, Governance (ESG) strategy with the 
United Nations Sustainable Development Goals and its ability to achieve these 
goals. These forward-looking statements are based on our current assumptions, 
expectations and beliefs and involve 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 SEC from time to time, including our Form 20-F, which was declared 
effective by the SEC on August 4, 2020, 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.

(C)  2020 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.

SOURCE:  Maxeon Solar Technologies, Ltd.

CONTACT: Investor:
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         Gary Dvorchak, CFA
         gary@blueshirtgroup.com
         Mobile: +1-(323)-240-5796; or

         Media: 
         Anna Porta
         Anna.Porta@Maxeon.com
         Mobile: +39-(345)-7706205