Spruce Power Wins Competitive Spruce PRO Backup Servicing Agreement Expanding to Puerto Rico, Cementing Status as the Go-To End-to-End Solar Portfolio Servicer

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 multi-year backup servicing agreement with Sunvida, a premier Puerto Rico-based solar financing options platform. The Spruce PRO backup servicing partnership will initially include data storage, data validity and reporting, with the potential for an expanded relationship over time.

“Many financial organizations supporting residential solar development are taking action to require backup servicing. Spruce’s proven and highly efficient service offering positions us well to reduce project risk and win new business,” said Chris Hayes, Chief Executive Officer of Spruce. “This agreement enables Spruce to establish relationships with great new partners like Sunvida that maintain operations both in Puerto Rico and the continental United States. It also underscores our ability to serve asset owners and financial partners of all types from regional investors to Third Party Owners and Fortune Global 50 companies.”

“Sunvida is dedicated to making solar and energy storage accessible in Puerto Rico given our year-round sunshine, the high cost of power from traditional sources and grid availability challenges. We understand the needs of this community, and are entirely committed to providing our customers with exceptional quality, availability and continuity,” said Frank Lopez, President & CEO at Sunvida. “We are pleased to secure Spruce as a backup service provider given its experience and capabilities as we take the steps needed to ensure resilience and quality assurance for our platform.”

Puerto Rico is among the leading U.S. states and territories for residential solar energy adoption on a per capita basis.

Spruce PRO offers a suite of services that can be tailored for third-party owners of distributed generation assets, including financial and asset management operations, customer service support, and environmental commodities trading. For more information on Spruce PRO, please visit https://sprucepower.com/pro/.

Spruce Power | www.sprucepower.com

SunVida | www.sunvida.com