Complete Solaria Secures Additional Strategic Financing Ahead of Forthcoming Business Combination

Complete Solaria, Inc. (“Complete Solaria” or the “Company”), a leading solar technology, services, and installation company, today announced it has received an additional $10 million of investment in its interim bridge financing, bringing the total raised for its interim bridge financing to $40 million. This capital raise, anchored by notable industry investors, is being made in support of Complete Solaria’s previously announced proposed business combination with Freedom Acquisition I Corp. (“Freedom”) (NYSE: FACT), a publicly traded special purpose acquisition company, and demonstrates confidence in the Company’s growth strategy and ability to generate shareholder value.

In addition, Complete Solaria recently announced an adjustment in valuation for existing security-holders from $450 million to $225 million, in recognition that public solar company valuations have decreased since the initial announcement of the proposed business combination in October 2022. Complete Solaria’s anchor investors and management team believe this provides an attractive entry point for investors.

About Complete Solaria

Complete Solaria is a solar company with unique technology and an end-to-end customer offering, which is expected to include financing, project fulfilment, and customer service, allowing it to sell more products across more markets and enable more options for customers wishing to make the switch to a more energy-efficient lifestyle. To learn more, visit: https://www.completesolaria.com.

Upon closing of the proposed business combination with Freedom, which is expected to take place in the third quarter of 2023, subject to approval by Freedom’s shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions, the combined company is expected to be listed under the new ticker “CSLR”.

About Freedom

Freedom is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Freedom is led by Executive Chairman Tidjane Thiam, who previously served as CEO of Credit Suisse and Prudential. Senior management of Freedom also includes Chief Executive Officer Adam Gishen and Edward Zeng, a proven entrepreneur with a strong track record of creating value for investors across financial services, technology and energy transition sectors. To learn more about Freedom, visit www.freedomac1.com.