Donovan Schafer

Pavel Molchanov

Philip Shen

William Grippin

Andrew Percoco

Brian Lee

Maheep Mandloi

- Maxeon Solar Pte. Ltd. (MSPL) and Zhonghuan Hong Kong Holding Limited (TZE HK) entered into an Amended Bilateral Development Services Agreement, effective **July 1, 2025**, to continue collaborating on **MAX8 Technology** research and development.  **[1796898_0001193125-25-209150_maxn-ex99_1.htm:0]** **[1796898_0001193125-25-209150_amended_bilateral_agreem.htm:1]** **[1796898_0001193125-25-209150_maxn-ex99_1.htm:3]** 
- Under the amended terms, **TZE HK will fund a greater share of research and development costs**, including all labor costs across all regions (Philippines, US, Singapore, China) and 50% of non-labor costs, a change from the previous 50/50 non-labor cost split and regional labor cost split.  **[1796898_0001193125-25-209150_amended_bilateral_agreem.htm:1]** **[1796898_0001193125-25-209150_maxn-ex99_1.htm:3]** 
- The amended agreement shifts **strategic control of the project to TZE HK**, with MSPL responsible for execution, and eliminates the joint management committee that was previously responsible for project supervision.  **[1796898_0001193125-25-209150_amended_bilateral_agreem.htm:2]** **[1796898_0001193125-25-209150_maxn-ex99_1.htm:6]** 
- **Intellectual property ownership has been reallocated**, making TZE HK the **sole owner of all Foreground IP**, except for US Patents which remain jointly owned, and TZE HK will lead patent prosecution outside the US.  **[1796898_0001193125-25-209150_amended_bilateral_agreem.htm:2]** **[1796898_0001193125-25-209150_maxn-ex99_1.htm:9]** **[1796898_0001193125-25-209150_maxn-ex99_1.htm:10]**

Maxeon Solar Technologies (MAXN)