SPRUCE POWER HOLDING CORP

Spruce Power Holding Corporation is a leading owner and operator of distributed solar energy assets across the United States, providing subscription-based services to approximately 84,000 home solar assets and customer contracts. The company focuses on the ownership and maintenance of home solar energy systems for homeowners in the U.S. Its core solar service offerings generate revenue primarily through three channels. First, it leases home solar energy systems and sells electricity generated by these systems to homeowners under long-term Customer Agreements, which require recurring monthly payments. Second, it sells solar renewable energy credits (SRECs) generated by its home solar energy systems through third-party contracts at contracted prices. Third, Spruce Power services third-party owned solar energy systems via its Spruce Pro servicing platform, which provides portfolio managed services to third-party owners and to Spruce Power's own portfolio of home solar energy systems. These portfolio managed services include billing and collections/asset recovery, account support services, financial asset management, homeowner support and servicing technology, asset operations, and transaction and execution services related to SRECs. Additionally, Spruce Power generates cash flows and earns interest income from customer contracts related to the SEMTH Master Lease. The company operates through subsidiary fund companies, referred to as the Funds, which own and operate its portfolio of home solar energy systems. These systems are subject to solar lease agreements (SLAs) and power purchase agreements (PPAs), collectively known as Customer Agreements, with residential customers.