Investor Presentation
Spruce is a leading third-party owner
(TPO) and operator of residential
rooftop solar systems in the U.S.
Offering a Differentiated Distributed Generation
(DG) Solar Business Model
✓ 'Power as a Service' model
✓ Serve as both owner and operator of rooftop solar
systems
✓ Organically built, in-house solar servicing business
Proven growth through acquisition strategy
✓ Comprehensive home energy management provider
(battery storage, EV charging)
72K+
Home Solar Systems & Contracts (1)
413MW
Clean Power Generation Capacity(1)
13 Years
Wtd Avg. Remaining Contract Life (1)
Over $280 Million
Net Portfolio Value(1)(2)
$3.42
Net Portfolio Value + Total Cash per
Share(3)
(1)
(2)
(3)
As of 12/31/22, pro forma the acquisition of the Spruce Power 4 Portfolio announced on March 23, 2023.
See Appendix for definition of Net Portfolio Value.
Based on cash and restricted cash of $217 million as of 12/31/2022 pro forma the acquisition of the Spruce Power 4 Portfolio
announced March 23, 2023, and 147.9 million shares outstanding as of 12/31/2022.
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