Spruce Power Wins Competitive Multi-Year Spruce PRO Contract, Expanding Solar and Storage Services in North Carolina

Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, announced a partnership with EnerWealth Solutions, a North Carolina-based solar development company, to launch the state’s first residential solar plus storage lease program.

The partnership is designed to create a robust and growing pipeline of solar and storage projects across North Carolina, bringing affordable, resilient clean energy to thousands of homeowners. The inclusive lease model requires no upfront costs or credit checks, includes a production guarantee with maintenance, and features on-site battery storage for added reliability.

Chris Hayes, Chief Executive Officer of Spruce, said, “This new Spruce PRO customer win leveraged our decade-plus experience in management of our wholly owned residential solar assets. We see growing market interest in our suite of services, which we tailor for third-party owners of distributed generation assets. The agreement is a great example of how our strength in servicing reduces project risk and helps secure financial backing for project development. With Spruce PRO managing the administration, EnerWealth is better able to focus its resources on solar origination. We are delighted to support EnerWealth in its calling, and pleased to work with an organization that shares our values.”

Ajulo Othow, CEO & Founder of EnerWealth Solutions, said, “EnerWealth is a local, mission-driven company focused on supporting homeowners. We believe solar energy should be accessible and affordable to all and are committed to bringing clean energy opportunities to homeowners through our offering of the first solar plus storage lease in North Carolina. We appreciate that Spruce Power customized a servicing solution to meet our needs.”

Through its Spruce PRO channel, Spruce will deliver the operational infrastructure that enables EnerWealth to scale rapidly while maintaining exceptional homeowner experiences. This includes billing and collections, homeowner support, remote monitoring and remote technical support; all backed by Spruce’s experience managing approximately 145,000 residential solar assets nationwide.

Spruce Power | www.sprucepower.com

EnerWealth Solutions | www.enerwealthsol.com