Aug 2, 2022

SunPower Confidential and Proprietary | © 2022 SunPower Corporation

Safe Harbor Statement

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding: (a) expectations regarding demand and our future performance based on bookings, backlog, demand, lead generation, installations, and pipelines in our sales channels and for our products, and our ability to meet consumer demand; (b) our plans and expectations with respect to our strategic partnerships and initiatives, including our strategic relationship with IKEA and our agreements with KB Home and Dream Finders Homes, and the anticipated impacts on our business and financial results; (c) our strategic plans and areas of investment and focus, and expectations for the results thereof, including improved customer experience, development of new products and services, resiliency, and cost savings; (d) expectations for performance against our key strategic pillars, including anticipated impacts on our business and financial performance; (e) our expectations regarding projected demand and growth in 2022 and beyond, and our positioning for future success; (f) our expectations for industry trends and factors, and the impact thereof on our business and strategic plans; and (g) our fiscal 2022 guidance, including customer growth, adjusted EBITDA per customer before platform investment, platform investment, Adjusted EBITDA, and assumptions related to each, including cost inflation, customer pricing increases, expected increases in attach rates for our products, reduction in sales and marketing opex per customer, and other factors.

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) regulatory changes and the availability of economic incentives promoting use of solar energy; (2) potential disruptions to our operations and supply chain that may result from epidemics or natural disasters, including impacts of the COVID-19 pandemic, and other factors; (3) competition in the solar and general energy industry, supply chain constraints, interest rates, and pricing pressures;

  1. changes in public policy, including the imposition and applicability of tariffs; (5) our dependence on sole- or limited-source supply relationships, including for our solar panels and other components of our products; (6) risks related to the introduction of new or enhanced products, including potential technical challenges, lead times, and our ability to match supply with demand while maintaining quality, sales, and support standards; (7) 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; (8) our liquidity, indebtedness, and ability to obtain additional financing for our projects and customers; and (9) 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 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.

©2022 2

Today's Agenda

1. CEO Update

Peter Faricy, CEO

2. Financial Update

Manavendra Sial, EVP Chief Financial Officer

3. Q&A

Q2 2022 Business Highlights

Revenue growth accelerating on higher sales and pricing

19,700

Record customers added in Q2, 51% YoY growth.1 Revenue growth accelerated again 63% YoY.

117%

YoY Q2 customer growth within SunPower Direct.

19,000

Retrofit Home customers in backlog.2

19%

SunVault™ Q2 bookings attach rate within SunPower Direct channel. Highest in CA (24%) and FL (32%).

34,000

New Homes customers in backlog,including multifamily.2

87%

Higher loan bookings volume Q2 YoY for SunPower Financial™.

  1. Record all-time-high. "Organic" YoY customer growth of 32% ex-Blue Raven Solar.
  2. Backlog calculated as of July 22.

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Top-of-Funnel Lead Generation Engine Firing on all Cylinders

Bookings growing rapidly with stronger pricing, pointing to a strong 2H

Leads

Gross

Appointments

Bookings

Q2 vs Q1

Q2 YoY

10%

>70%

8%

>70%

16%

>70%

©2022 5

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SunPower Corporation published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 12:31:05 UTC.