ENPHASE ENERGY, INC. 401K PLAN Contribution & Employer Match

ENPHASE ENERGY, INC. 401K PLAN Average Participant Retirement Account Value

ENPHASE ENERGY, INC. 401K PLAN Estimated Average Employee Contribution Amount

• Each year, participants may contribute up to 100% of pre-tax annual compensation, as defined in the Plan.
• Participants are permitted to irrevocably designate a portion of all of the deferral contributions as Roth contributions.
• Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
• The Plan contains automatic enrollment and automatic escalation provisions for participants hired or rehired on or after June 1, 2021 who have not made a deferral election.
• The initial pre-tax deferral contribution is 5 percent of eligible compensation, and the contribution increases by 1 percent on January 2 of each subsequent year until a maximum deferral rate of 10 percent is reached.

• During the year ended December 31, 2024, the Company contributed a discretionary match contribution of 50 percent of each participant’s elected contributions during the plan year, up to a maximum match of $3,000.

• A participant is always fully (100 percent) vested in his or her salary reduction account, rollover contribution account, and employer safe harbor contributions, plus actual earnings thereon.
• Employer match contributions of participants who are employed at least one hour in any plan year subsequent to December 31, 2021, are 100% vested.
• For participants terminated prior to January 1, 2022, employer match contributions vest over a six-year graded vesting schedule in which 20% of the employer contribution vests after two years of service, and an additional 20% vests after each year of service thereafter, until the participant is fully vested upon accumulating six years of service.