Item 1.01. Entry into a Material Definitive Agreement.

On February 14, 2020, SunPower Corporation (the "Company") entered into a Debenture Repurchase Agreement (the "Repurchase Agreement") with Total Solar INTL SAS, a French société par actions simplifiée ("Total"). Pursuant to the Repurchase Agreement, the Company agreed to purchase from Total, and Total agreed to sell to the Company, an aggregate principal amount of $56.439 million of the Company's 0.875% senior convertible debentures due 2021 (the "2021 Debentures"), for a cash purchase price equal to $965 per $1,000 principal amount of the 2021 Debentures. The repurchase is expected to close on February 21, 2020.

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