SUNPOWER ANNOUNCES NEW WORLD-RECORD SOLAR CELL EFFICIENCY

Full-Scale Prototype Produced at 24.2 Percent

SunPower announced today that it has produced a full-scale solar cell with sunlight to electricity conversion
effciciency of 24.2 percent at its manufacturing plant in the Philippines. This is a new world record, confirmed by the U.S. Department of Energy’s National Renewable Energy Lab (NREL), for large area silicon wafers.

This new world record demonstrates SunPower’s ability to extend our lead in manufacturing the world’s highest
efficiency solar cells. SunPower’s patented and proprietary, high-efficiency solar cell technology drives down the cost osolar energy by increasing the energy production from each solar panel.

Improved cell efficiency reduces the levelized cost of energy by increasing the energy production from each wafer manufactured into a SunPower solar cell. For the same reason, increased efficiency
reduces the cost per watt and cost per kilowatt-hour for feedstock and materials, depreciation and other
manufacturing expenses, installation time, land and system operations, and related maintenance.

“As we celebrate SunPower’s 25th anniversary this year, I am thrilled to see the company achieve technology milestones that were inconceivable only a few years ago,” said Dr. Richard Swanson, SunPower founder and chief technology officer. “SunPower’s research and development and engineering teams have increased cell
efficiency by a full four percentage points over the last five years while radically driving down manufacturing costs. We are extremely proud of their continued success.”

SunPower continues to drive towards greater efficiencies, effectively minimizing the required footprint of our systems. This will give customers the ability to get maximum financial returns around their local feed in tariffs, within the limitations of their roof space.

Regards,
SunPower Australia Team