Suniva

S . energy independence NORCROSS, Ga. S . merchant manufacturer of high-efficiency monocrystalline silicon solar cells (“Suniva” or the “Company”), today announced the completion of an $835 million capital raise comprising both debt and equity financing. The financing was provided by a group of top-tier financial partners, including Suniva’s largest shareholder and long-term backer, Lion Point Capital, and consists of senior secured credit facilities provided by funds managed by Goldman Sachs Alternatives and I Squared Capital, a second lien credit facility provided by JBA Asset Management, and equity investments by Electron Capital Partners, Orion Infrastructure Capital (OIC), and Rubric Capital Management, along with certain other investors.

S . S . energy independence. Roth Capital Partners served as lead private placement agent to Suniva. Gibson , Dunn & Crutcher LLP served as legal counsel to Roth. Rodman & Renshaw served as a financial advisor to Suniva. P. Morgan acted as the sole structuring agent to Suniva. Kilpatrick Townsend & Stockton LLP served as legal counsel to Suniva. 5 GW high-efficiency monocrystalline silicon solar cell manufacturing facility, which is currently under development in Laurens County, South Carolina , will more than quadruple its capacity, with completion expected in late 2027 and full ramp expected in 2028.

The shell of the 621,468 square foot building is already complete. The fully-funded project represents an approximately $600 million investment and an anticipated 564 new advanced manufacturing jobs, creating a major industrial anchor for South Carolina’s Upstate region. Suniva’s existing, fully operational facility in Norcross, Georgia , is already delivering 1 GW of high-efficiency monocrystalline silicon solar cell manufacturing capacity. S . solar cell manufacturers. S . solar players for the majority of its planned future production. The Company expects the new Laurens County capacity to be highly competitive as it comes online.

Connor Arras, Managing Director, Climate Credit at Goldman Sachs Alternatives, said, "Suniva is scaling from a position of strength. They're already producing at commercial scale, have locked in critical domestic supply relationships, and have long-term customer commitments covering their planned output. Combined with a fully funded expansion, that gives us confidence in Suniva's ability to become an even more important supplier to America's solar industry as the country works toward domestic supply chain independence." South Carolina Governor Henry McMaster, commented, “With the addition of 564 jobs in advanced manufacturing and energy, Suniva’s commitment to this major expansion in the Palmetto State will create new opportunities for our workforce and help bolster energy independence in the United States .

” David Rosenblum, Fund Partner, I Squared Capital, said: “This financing reflects I Squared Capital’s expertise as a global investor in critical infrastructure, and our conviction in Suniva as a strong project developer with a clear path to scale. ” “Laurens County is excited to welcome Suniva and their first South Carolina operation to our community. The investment commitment and job creation are a testament to our business-friendly environment. We look forward to a great partnership with Suniva for many years to come,” said Laurens County Council Chairman Jeff Carroll.

C. whose products help to power the world, deepening our expertise in advanced energy. We’re excited for the opportunities they will create in our region and look forward to watching them grow,” said Upstate SC Alliance President and CEO John Lummus. S . S . solar cells. -owned solar cell manufacturer at commercial scale, we believe Suniva is uniquely well positioned in the market. S . energy independence," said Tony Etnyre, CEO of Suniva, Inc. -based source. S . ” Suniva announced on June 8, 2026 that it signed a definitive reverse merger agreement (the “Merger Agreement”) pursuant to which Suniva will merge with a wholly-owned subsidiary of SUNation Energy, Inc.

(Nasdaq: SUNE ) (“SUNation”), a leading provider of residential and commercial solar energy systems, battery storage solutions, and comprehensive energy services. The combined company is expected to operate under the Suniva name and continue SUNation’s listing on the Nasdaq Capital Market. ABOUT SUNIVA Headquartered in metro Atlanta, Georgia , Suniva is the leading American manufacturer of high-efficiency crystalline silicon photovoltaic (PV) solar cells. -owned and operated solar cell manufacturer in the country, the company is known for its high-quality products, industry-leading technology, reliability, and high-power density.

com . ABOUT SUNATION ENERGY SUNation Energy, Inc. (Nasdaq: SUNE ) is a leading provider of sustainable solar energy, battery storage, backup power and related energy services to households, businesses and municipalities, with a focus on high–electricity-cost markets. Through its portfolio of brands, including SUNation, Hawaii Energy Connection and E-Gear, SUNation offers an end-to-end product set spanning residential and commercial solar, battery storage, grid services, roofing and high-margin service and maintenance for both its own systems and “orphaned” systems installed by other providers.

SUNation’s largest markets include New York and Hawaii. com . FORWARD-LOOKING STATEMENTS This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that are not historical facts and may be identified by words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “project,” “target,” “design,” “will,” “would”, “could”, “should”, “may”, “forecast”, “potential”, “target” and similar expressions.

These statements include, but are not limited to, statements regarding: the projected funding status, capacity, and completion and production ramp schedule of Suniva’s Laurens County project; the benefits of the project to Laurens County, including job creation projections, the State of South Carolina and the nation’s energy infrastructure and independence; the efficacy of Suniva’s supply chain and long-term product offtake agreements to achieve their intended purposes; and any statements regarding the proposed merger of SUNation and Suniva. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.

S. Securities and Exchange Commission (the “SEC”) and to be described in the Form S-4 and related proxy statement/prospectus. These forward-looking statements speak only as of the date of this press release. Suniva and SUNation expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in expectations or any change in events, conditions or circum-stances on which any such statement is based, except as required by law. NO OFFER OR SOLICITATION This communication is for informational purposes only and does not constitute (i) a solicitation of a proxy, consent or approval with respect to any securities or in respect of the proposed transactions or (ii) an offer to sell or buy, or the solicitation of an offer to sell or buy, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, email, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.

NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESS RELEASE IS TRUTHFUL OR COMPLETE. S. Securities and Exchange Commission (“ SEC ”) in connection with the proposed transactions. In connection with the proposed Merger transaction, SUNation intends to file with the SEC a registration statement on Form S-4 that will include a proxy statement of SUNation and a prospectus (the “ proxy statement/prospectus ”). INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

gov . com/ ), where anyone will be able to obtain free copies of the proxy statement/prospectus and other documents filed by SUNation with the SEC and stockholders are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transactions. PARTICIPANTS IN THE SOLICITATION SUNation, Suniva and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from SUNation’s shareholders in respect of the proposed transaction.

Information regarding SUNation’s directors and executive officers is set forth in SUNation’s most recent Annual Report on Form 10-K, including any information incorporated by reference, as filed with the SEC on March 23, 2026, as supplemented by its periodic SEC reports thereafter. Additional information regarding the participants in the solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. com For SUNation Energy: Scott Maskin Chief Executive Officer, SUNation Energy, Inc.

com James Brennan Chief Financial Officer, SUNation Energy, Inc.