Our smartest We ramped up shipments of IQ8 Microinverters worldwide and introduced a new high-power variant microinverters yet for emerging residential markets Throughout 2023, we signicantly expanded the distribution of our IQ8 Microinverters, reaching 21 countries worldwide. In 2024, we plan to introduce IQ8 Microinverters into several additional countries across Europe and Asia. In 2023, we introduced the IQ8P Microinverter, boasting a peak output AC power of 480 W tailored for residential segments in emerging markets. Designed to support panels of up to 650 W DC, we launched IQ8P in Brazil, Mexico, India, and Vietnam, with plans for further expansion in 2024. “We believe our commitment to high Another variant of the IQ8P Microinverter, featuring a new 3-phase cabling quality, rapid shutdown capability, system, caters to small commercial 208 V solar installations ranging from 20 and microgrid-forming capability to 200 KW and is currently shipping to customers in North America. With the positions us well to serve the small global small commercial market estimated at over 11 GW, we are condent in commercial market.” the value our microinverter systems bring to business owners and installers. We believe our commitment to high quality, rapid shutdown capability, and microgrid-forming capability positions us well to serve the small commercial market. We started shipping our IQ Smart EV Chargers in the United States and Canada We launched our IQ® Smart EV chargers in the United States and Canada in the fourth quarter of 2023. The Wi-Fi enabled charger is now integrated ® into the Enphase Energy System. This enables use cases such as self- consumption and green charging and allows homeowners visibility into their systems through their Enphase App. Looking ahead, we are developing IQ Smart EV chargers for Europe. In addition, we are diligently working on our bi-directional EV charger that we expect to introduce in 2025. IQ8 family of microinverters deliver up to 480 W peak AC power 12 ENPHASE CEO LETTER TO SHAREHOLDERS 2023 13