Enphase Energy, Inc. Enters into Tax Credit Transfer Agreement

Enphase Energy, Inc. has entered into a Tax Credit Transfer Agreement with a financial institution, agreeing to sell up to $150,000,000 of advanced manufacturing production tax credits generated in calendar year 2026. The purchase price for these tax credits will not exceed $139,500,000, with payments structured over four installments in 2026 and 2027, subject to customary conditions. The agreement includes standard covenants, indemnification, and termination clauses typical for such transactions. The company anticipates these credits will be generated from the production and sale of eligible components in the U.S. under Section 45X of the Internal Revenue Code.