Risk Factors Update Summary

• Expanded manufacturing capacity by approximately 8 GW, including new facilities in Alabama, Louisiana, and Ohio.
• Addition of new technologies like crystalline silicon, hybrid perovskites, and tandem solar cells.
• Increased module efficiency target to 28% by 2030, enabled by multi-junction technology.
• Investment of approximately $2.7 billion in expanding manufacturing capacity by 8 GW.
• Enhanced sustainability with faster energy payback time, 180x energy return, and lower carbon and water footprints.
• Implementation of the CuRe program to improve semiconductor structure by replacing copper.
• Commitment to science-based targets for reducing GHG emissions by 34% by 2028 and achieving net-zero by 2050.
• Introduction of new regulations impacting ESG practices and reporting requirements.
• Addition of new manufacturing facility in India with an expected capacity of 3.2 GW.
• Potential risks related to cybersecurity incidents and breaches, including ransomware attacks.
• Introduction of new minimum module efficiency thresholds in India to access the market.
• Impact of climate-related physical risks on manufacturing operations and supply chains.
• Inclusion of recycled content in Series 7 modules and emphasis on sustainability practices.
• Uncertainty regarding international tax laws and the potential impact on effective tax rates.