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Reference is made to that certain indenture, dated as of June 20, 2024 (the “Indenture”), among Maxeon Solar Technologies, Ltd. (the “Company”), the guarantors party thereto, Deutsche Bank Trust Company Americas, as trustee, DB Trustees (Hong Kong) Limited, as the collateral trustee (the “Collateral Trustee”) and, solely with respect to the Philippine collateral, RCBC Trust Corporation__,__ as supplemental collateral trustee, relating to the Company’s Adjustable-Rate Convertible Second Lien Senior Secured Notes due 2028 (the “Notes”). Capitalized terms used but not otherwise defined in this notice shall have the meanings ascribed to such terms in the Indenture.

In accordance with the proviso to the definition of “Default Settlement Method” in the Indenture, the Company has elected to change the Default Settlement Method to Physical Settlement effective as of July 2, 2024. This notice is intended to serve as notice under Section 5.03(A)(iii) of the Indenture of a change in the Default Settlement Method under the Indenture