SunPower : Download 2021 ESG report

ESG Report

2021

Environmental

Social

Governance

ESG REPORT 2021

Note Concerning Forward-Looking Statements

This ESG report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding: (a) our expectations for our products, including performance, adoption, and anticipated consumer impacts; (b) our expectations for growth in our industry and markets, and our positioning for success; (c) our future policy goals and areas of focus in political advocacy; (d) our future product sourcing plans; and (e) our plans for future initiatives, including supplier diversity. 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: (1) potential disruptions to our operations and supply chain that may result from epidemics or natural disasters, including impacts of the COVID-19 pandemic; (2) competition in the solar and general energy industry and downward pressure on selling prices and wholesale energy pricing; (3) regulatory changes and the availability of economic incentives promoting use of solar energy; (4) the success of our ongoing research and development efforts and our ability to commercialize new products and services, including products and services developed through strategic partnerships; and (5) challenges managing our acquisitions, joint ventures and partnerships, including our ability to successfully manage acquired assets and supplier relationships. 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 report 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.

02

ESG REPORT 2021

A Message from Our CEO

Peter Faricy

CEO

At SunPower, ESG is more than just a component of our business- it's integral to our mission, our identity, and our long-term success. Our mission is to change the way our world is powered, creating

a more sustainable future and delivering clean, affordable energy to homeowners in every corner of the country. It's not enough just to be a clean energy company. We believe that clean energy should be accessible to all regardless of their zip code or socioeconomic status, and we are leveraging our strengths to deliver that promise to consumers.

SunPower's ESG commitments include goals to reduce carbon emissions throughout our business, increase diversity across our workforce, support minority-owned businesses through a dealer diversity program, and contribute thousands of employee volunteering hours.

We believe that every action we take should be guided by our values, and we expect to be held accountable- by our customers, partners, investors and employees-as we work towards a brighter future.

As a company, we took important steps in 2021 towards reaching our ESG goals and setting new standards for our industry. We announced our 25x25 Initiative in September, establishing clear targets to increase the diversity of our workforce, expand solar access to those in historically disadvantaged communities, and ensure industry equity for women and people of color by 2025. In December, we launched SunPower Financial, a financial services institution that will make clean energy more affordable and accessible for U.S. homeowners. We recognize the hard and important work that needs to be done to improve diversity and equity in

every aspect of the consumer solar experience, and we look forward to reaching our long-term benchmarks.

This is a critical moment to stem the effects of climate change and transition to clean, renewable energy. We are playing an important role in ensuring this transition is within reach for everyone. As the nation's longest- standing solar energy company,

we understand our responsibility in leading this transition. We will do everything in our power to foster solar adoption among U.S. consumers and build a more sustainable planet.

Thank you for your support as we work together on this mission.

03

ESG REPORT 2021

About 05

2021 Highlights • Our Footprint • Our Mission • Our Purpose

Our Values • Financial Highlights • Policy and Market Developments

Our Goals 14

Goals Table • SunPower's 25x25 Pledge

Decarbonizing Our U.S. Freight and Fleet

Environment 18

Environmental Impact • Legacy of Sustainability Leadership Greenhouse Gas (GHG) Emissions • Energy Management Electric Fleet and Green Logistics • Water Management Waste Management and Product Recycling

Supplier Sustainability Guidelines • Conflict Minerals

Social 28

Diversity, Equity and Inclusion • Health and Safety

Caring for Our Workforce • Community Engagement

Governance 42

Board of Directors • Snapshot • Corporate Governance Principles Business Code of Conduct and Ethics • Related Party Transactions Whistleblower Protection • Risk Management • Data Security and Privacy

Innovation 48

SunPower Financial • Wallbox EV Charger • Virtual Power Plant Eureka Grove Community

Contact 53

Appendix 55

04

ESG REPORT 2021

About

Based in San Jose, California, SunPower Corporation (NASDAQ:SPWR) is a residential solar company making the experience of buying and managing clean energy simpler and more accessible for a wider variety of homeowners. With the highest-quality solar + storage solutions and unparalleled customer service, SunPower allows customers to take control of home energy use, providing a path to a more sustainable future.

About 05