Maxeon Provides Strategic Business Update

Core Insights - Maxeon Solar Technologies is focusing on transforming its business to better compete in the challenging solar market, prioritizing the delivery of high-quality solar panels and renewable energy solutions [2] - The company has strategically restructured its business to concentrate exclusively on the U.S. market, enhancing its growth potential through planned onshore manufacturing [3][4] Business Restructuring - Maxeon has sold non-U.S. assets, resulting in approximately $94 million in proceeds, which strengthens its focus on the U.S. residential, commercial, and utility power plant markets [4] - The company is establishing alternative manufacturing and supply chains that are not affected by recent tariffs and trade barriers [8] Regulatory Challenges - U.S. Customs & Border Protection (CBP) denied Maxeon's protests regarding detained shipments of its solar panels, citing insufficient documentation despite the company's compliance with the Uyghur Forced Labor Prevention Act [5][6] - Maxeon is considering contesting CBP's decision in the U.S. Court of International Trade to affirm its compliance with UFLPA [5] Manufacturing Initiatives - Maxeon is committed to developing its U.S.-based manufacturing facilities, including an Albuquerque facility that will utilize next-generation technology [10] - The company is actively identifying additional domestic component vendors to support its diversified manufacturing operations [10] Commitment to Compliance and ESG - Maxeon emphasizes its commitment to compliance with UFLPA and maintains high standards of transparency and ethical practices in its supply chain [9]