Maxeon Solar Technologies Wins Apex Award for "Sustainable Business" at United Nations Global Compact Network Singapore's Award Ceremony

SINGAPORE, Nov. 8, 2023 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN), a global leader in solar innovation and channels, announced today that it has received the award of 'Sustainable Business' at the United Nations Global Compact Network Singapore's (GCNS) Apex Award ceremony celebrating the best companies in Singapore for sustainability. The ceremony was held on November 3, 2023, in the presence of Singapore's Minister for Sustainability and the Environment, Grace Fu.

The Singapore Apex Corporate Sustainability Awards are one of the most prestigious awards in Singapore for corporate sustainability and recognize companies whose business operations or solutions exemplify the Ten Principles of the United Nations Global Compact, in the areas of environment, human rights, labor, and anti-corruption. The annual award spotlights companies that have taken decisive steps to advance the Sustainable Development Goals (SDGs) and aims to inspire more organizations to share the respoTAIWnsibility of achieving a more sustainable future. In particular, the judges noted that alongside being a leader in sustainable solar technology, Maxeon takes social factors in its supply chain seriously and has taken strenuous measures to ensure that its supply chain is free of forced labor. This comes shortly after the United Kingdom's Sheffield Hallam University, a leader in the international study of forced labour, found that Maxeon has zero exposure to forced labour risks in its "OVER-EXPOSED: Uyghur Region Exposure Assessment for Solar Industry Sourcing" report.

Maxeon Solar Technologies' CEO, Bill Mulligan, said: "Maxeon is a mission-driven Company, and we are thrilled that our sustainability efforts have been recognized by the Global Compact Network Singapore. We plan to continue to be a leader in sustainability in the solar industry, both in Singapore and globally."

Global Compact Network Singapore's Executive Director Esther Chang said: "Maxeon has been an enthusiastic and dedicated member of the Global Compact family since 2020. As one of our award recipients, they serve as a prime example of businesses thinking boldly and innovatively to help us make significant strides toward the SDGs. They are achieving this by collaborating with ecosystem partners to come up with new solutions and to amplify their impact. We look forward to continuing our work together to advance the sustainability agenda in Singapore and beyond."