Maxeon Solar Technologies, Ltd. (the Company) appointed Shen Haoping to serve as a member of the Board and as a member of the Company's Coordination Committee. Mr. Shen is a designee of Zhonghuan Singapore Investment and Development Pte. Ltd. (TZE), pursuant to the Shareholders Agreement dated August 26, 2020 between the Company, TZE and TotalEnergies Solar INTL SAS and TotalEnergies Gaz Electricité Holdings France SAS, and is replacing Zhang Changxu, whose resignation from the Board was effective immediately upon Mr. Shen's appointment.

Simultaneously with Ms. Zhang's resignation and Mr. Shen's appointment, Mr. Sean Wang has been appointed as a member of the Company's Compensation Committee and removed as a member of the Company's Coordination Committee. Mr. Shen serves as a director designated by TZE on Maxeon's Board of Directors and member of its Coordination Committee. He is the Vice Chairman and CEO of TCL Zhonghuan Renewable Energy Technology Co.

Ltd., a public company listed at Shenzhen Stock Exchange. Currently Mr. Shen is also a board member and Senior Vice President of TCL Technology Group Corporation. He was awarded the 2015 National Model Worker by the Chinese government and earned the best CEO award by Forbes China in 2022.

Mr. Shen has many years of experience in the design and manufacturing of semiconductor and photovoltaic mono silicon materials. He has presided over several national and provincial R&D projects and led TZE to win the industry and government honors such as municipal science and technology progress award, China patent excellence award, national innovation-oriented enterprise and Forbes China potential enterprise. Under Mr. Shen's leadership, TZE has built a world leading photovoltaic silicon ingot and wafer R&D, manufacturing and sales organization.

Previously he also served as General Manager and other leadership positions of Tianjin HuanOu Semiconductor Materials Technology Co., Ltd. Mr. Shen received his Bachelor's Degree in semiconductor physics from Lanzhou University.