Financial sustainability We managed well in 2023 with our 昀椀nancial discipline through a di昀케cult global environment. $2.3billion Revenue was $2.29 billion in 2023, compared to $2.33 billion in 2022. We shipped 15.5 million microinverters in 2023, compared to 15.4 million in 2022. Our non-GAAP gross revenue in 2023 margin expanded to 45.3%1, exclusive of the IRA net bene昀椀t, and our non-GAAP gross margin further increased to 47.1%1, inclusive of the IRA net bene昀椀t, by manufacturing our microinverters in the United States. Our balance sheet remained very strong in 2023. We generated approximately $586.0 15.5million million dollars of free cash 昀氀ow in 2023 and exited the year with $1.70 billion dollars in cash, cash equivalents and marketable securities, up over $80.0 million dollars year-over-year, microinverters shipped in 2023 while repurchasing 3.3 million shares of our common stock for approximately $410.0 million dollars. 47.1% A responsible investment non-GAAP gross margin in 2023 We are proud of the reputation we have built as a global leader in home energy management systems and sustainability. In 2023, we were pleased to be recognized by several third- party organizations for success in aligning our business with international sustainable development goals, including placement on both the Corporate Knights Global 100 and Newsweek’s America’s Greenest Companies lists. Our performance among third-party ESG ratings agencies also continued to improve in 2023, with Enphase earning an ESG ‘Prime’ rating from Institutional Shareholder Services (ISS), a ‘AA’ ESG rating from Morgan Stanley Capital International (MSCI), and reduced risk rating from Sustainalytics. We remain committed to meeting and exceeding the qualifying thresholds for sustainable investment under various criteria such as the United Nations Global Compact (UNGC), the United Nations Sustainable Development Goals (UN SDGs), the EU Sustainable Finance Disclosure Regulation (SFDR), and the EU taxonomy for sustainable activities. 1 See Appendix for reconciliation to comparable GAAP measures 18