TOYO Strikes Sales Agreement With U.S. Polysilicon Manufacturer To Secure Raw Materials For Solar Production

TOYO Co., Ltd (NASDAQ:TOYO) (OTC:TOYWF),  ("TOYO" or the "Company"), a solar solution company, today announced that it has signed a sales contract with a U.S. polysilicon manufacturer(the "Supplier"), to secure domestically sourced critical raw materials for TOYO's solar manufacturing operations. This agreement adds U.S.-sourced polysilicon to TOYO's existing non-Foreign Entity of Concern ("FEOC") overseas supply, strengthening TOYO's dual-source strategy and ensuring a stable and regulatory compliant supply for its solar manufacturing operations.

Under the sales contract, the Supplier agreed to provide TOYO with polysilicon produced in the U.S., strengthening TOYO's ability to meet growing demand in the U.S. solar market. The sales contract has a term of one year. This partnership establishes a robust and diversified polysilicon supply chain, supporting both TOYO's cell manufacturing in Ethiopia and module production in the United States.