Item 4 — Purpose of Transaction
Item 4 of the Schedule 13D is hereby supplemented by adding the following: Closing of Sale Transaction The sale of 100% equity interest in SunPower Philippines Manufacturing Ltd, a Cayman incorporated legal entity and wholly owned indirect subsidiary of the Issuer, to TCL Zhonghuan Renewable Energy Technology Co Ltd. and/or its subsidiaries, the Issuer's controlling shareholder (collectively, "TZE"), was consummated on February 28, 2025 (the "Closing Date"), pursuant to the terms of that Sale and Purchase Agreement (the "SPA") entered into by and between SunPower Technology Ltd., a subsidiary of the Issuer ("SPT"), and Lumetech PTE Ltd., a subsidiary of TZE ("Purchaser"), on January 26, 2025. As previously disclosed, on the Closing Date, the Issuer and Purchaser also entered into the Procurement Agency Agreement, and Purchaser and a subsidiary of the Issuer entered into the Transitional Services Agreement and the Bilateral Development Services Agreement, respectively. The transactions contemplated under the SPA received the requisite consents and approvals, including the ODI Approval. Capitalized terms used but not otherwise defined herein, shall have the meanings ascribed to them in Amendment No. 11. For a detailed description of the terms of the SPA and certain related transactions, refer to the information set forth in Amendment No. 11. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may from time to time and at any time in the future, depending on various factors, including, without limitation, the outcome of any discussions referenced above, the Issuer's financial position and strategic direction, actions taken by the Board, price levels of the Ordinary Shares, other investment opportunities available to the Reporting Persons, conditions in the securities markets and general economic and industry conditions, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation: (i) acquiring additional Ordinary Shares and/or other securities of the Issuer; (ii) disposing of any or all of their Ordinary Shares and/or other securities of the Issuer; (iii) engaging in hedging or similar transactions with respect to the securities of the Issuer; (iv) causing or facilitating changes to the capitalization, corporate structure or governing documents of the Issuer; (v) acquiring additional assets of the Issuer and/or its subsidiaries, or (vi) proposing or considering, or changing their intention with respect to, one or more of the actions described in subsections (a) through (j) of Item 4 of the Schedule 13D.