SunPower (SPWR) investor relations material

Executive summary

• The annual meeting will be held virtually on November 2, 2026, with voting on key proposals including director elections, a reverse stock split, and auditor ratification.

• The company underwent significant changes, including acquisitions and a name change, and is listed on Nasdaq under SPWR.

• Stockholders of record as of September 18, 2026, are eligible to vote, with 320,300,345 shares outstanding.

• Proxy materials are available both by mail and online, and voting can be done via internet, phone, mail, or during the meeting.

Voting matters and shareholder proposals

• Proposal 1: Election of 11 director nominees to serve until the 2027 annual meeting.

• Proposal 2: Approval of an amendment to effect a reverse stock split at a ratio between 1-for-5 and 1-for-35, at the board's discretion.

• Proposal 3: Ratification of BDO USA, P.C. as the independent registered public accounting firm for fiscal year ending January 3, 2027.

• Stockholder proposals for the 2027 meeting must be submitted by May 31, 2027, for inclusion in the proxy statement.

Board of directors and corporate governance

• The board consists of 12 members, with 7 deemed independent under Nasdaq rules.

• Board committees include Audit, Compensation, and Nominating and Corporate Governance, each with defined responsibilities and independent members.

• The roles of Chairman and CEO are combined; a Lead Independent Director is designated.

• Corporate governance guidelines and a code of ethical business conduct are in place.