A Letter from our President and CEO Since the publication of our inaugural Environmental, Social, and Governance (ESG) report in 2020, we have made strides in managing our emissions footprint, cultivating a diverse and inclusive workplace, and raising awareness of ESG issues across the business. I am pleased to report the ongoing success of our ESG e昀昀orts in 2023 as we continued to make best-in-class renewable home energy systems with a laser focus on product innovation, quality, and customer experience. Enphase was founded in 2006 with its purpose: “Advancing a sustainable future for all.” We are the world’s leading supplier of microinverter-based solar and battery systems. Our systems are helping millions of people gain access to clean, a昀昀ordable, and reliable Badri Kothandaraman energy. As you read this report, you will see our purpose is infused into every part of our President and CEO business. We acknowledge our responsibility to reduce our emissions footprint, focus on our customers and partners, and ensure our employees and the people and communities we serve are treated with transparency and respect, all while continuing to deliver products that are productive, reliable, smart, simple, and safe. “We aim to support a cleaner, Since inception, we have shipped more than 73 million solar microinverters and 1.2 GWh ® more reliable, and better- of IQ Batteries. Approximately 4.0 million Enphase-based systems have been deployed performing grid to help improve in more than 150 countries. Approximately 25.2 GW DC power of Enphase microinverters quality of life, and to have been installed in solar systems, preventing 56 million metric tons of carbon dioxide equivalent (MTCO 1 e) – the equivalent of providing energy to 7.3 million homes for one year. collaborate with a wide range of 2 stakeholders to advance policy 2023 was a challenging year as our industry su昀昀ered through a period of slowdown in outcomes in support of clean overall demand, primarily due to high interest rates in the United States and California’s Net energy across the world.” Energy Metering (NEM) 3.0, and macroeconomic conditions in Europe. I am proud of the hard work and resilience shown by our employees around the world who worked tirelessly to deliver innovative products and services to our customers as we navigated through the global slowdown. We maintained our operational excellence throughout 2023 and our culture playbook is a reminder of how we work together to achieve results. We aim to support a cleaner, more reliable, and better-performing grid to help improve quality of life and to collaborate with a wide range of stakeholders to advance policy outcomes in support of clean energy across the world. The passing of the In昀氀ation Reduction Act (IRA) by the U.S. Congress in 2022 enabled us to begin manufacturing in the United States, bring back high-technology jobs, and advance the country’s clean energy economy. During 2023, we began shipments from our new contract manufacturing partners in the United States, including Flex in South Carolina and Salcomp in Texas. In 2023, we introduced our products into more countries. We started shipping our IQ8™ Microinverters into 21 countries worldwide. Our IQ Batteries are shipping to customers in North America, Belgium, Austria, France, the Netherlands, Switzerland, Spain, Portugal, Sweden, Denmark, and Greece. We also introduced our latest Enphase® Energy System, powered by IQ8 Microinverters and the IQ Battery 5P. The IQ Battery 5P delivers the best 1 Estimate based on Enphase managed systems data as of December 31, 2023 grossed up for non-managed systems based on performance monitoring data; CO e calculations based on U.S. Environmental Protection Agency (U.S. 2 4 EPA) Greenhouse Gas (GHG) Equivalencies Calculator.