GlobeNewswire Inc | Sep 16, 2021 10:45AM EDT

September 16, 2021

FORT WASHINGTON, Pa. and SAN JOSE, Calif., Sept. 16, 2021 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE: TOL), the nations leading builder of luxury homes, and SunPower Corp. (NASDAQ: SPWR), a leading solar technology and energy services provider,today announced a multi-year exclusive agreement in which SunPower will be the only provider of solar technology to Toll Brothers homes and communities across California. This exclusive agreement combines SunPower solar, storage and additional services, and is the first of its kind for both companies. The agreement contains preferred terms for solar and storage offerings in California and nationally.



With this new strategic affiliation, nearly every home Toll Brothers builds in California will include a SunPower Equinox home solar system, which generates more power in less space with fewer visible parts than traditional solar electric systems.In addition to providing the most efficient solar power available to home buyers, the agreement will allow Toll Brothers to expand availability of solar storage offerings with SunPowers innovative SunVault storage system. This will provide home buyers with more reliable power, reduce peak-time electricity charges, and serve as a back-up home power source in case of a utility outage.



The exclusive agreement also provides a framework for expansion of the terms to additional states in which Toll Brothers and SunPower operate.



We are excited to partner with SunPower to provide leading solar technology solutions to our home buyers in Toll Brothers communities across California, said Seth Ring, Executive Vice President of Toll Brothers. This partnership underscores Toll Brothers commitment to a cleaner environment, while providing our home buyers with additional options for renewable and reliable power, including backup home energy storage.



Toll Brothers is known for quality craftsmanship and high standards, so joining together to provide their customers with the best quality and aesthetics available in solar and storage is a natural fit, said Matt Brost, Senior Director of New Homes Sales at SunPower. Together we can offer new home buyers the ability to generate electricity sustainably and peace of mind that theyll be able to keep the lights on.



In April 2021, Toll Brothers released its inaugural Environmental, Social and Governance (ESG) Report. For more information, visit www.TollBrothers.com/ESG.

About Toll Brothers

Toll Brothers, Inc., a FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company was founded over 50 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol TOL. The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations.



2021 marks the 10th year Toll Brothers has been named to FORTUNE magazines Worlds Most Admired Companies list. Toll Brothers has also been honored as Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year by Professional Builder magazine. For more information visit TollBrothers.com.



About SunPower

Headquartered inCalifornia'sSilicon Valley, SunPower (NASDAQ:SPWR) is a leading Distributed Generation Storage and Energy Services provider inNorth America. SunPower offers the only solar + storage solution designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners, businesses, governments, schools and utilities. For more information, visitwww.sunpower.com.





Sent by Toll Brothers via Regional Newswire (TOLL-REG)





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Andrea MeckToll Brothers215-938-8169ameck@tollbrothers.com