SPRUCE POWER
Spruce Power Partners with Treehouse to Accelerate Expansion into Home Battery Storage, Opening a New Avenue of Growth

Spruce Power Holding Corporation (NYSE: SPRU), a leading owner and operator of distributed residential solar energy assets across the United States, today announced a strategic partnership with Treehouse, a software-enabled installation platform for electrification projects, to accelerate Spruce's expansion of offerings into the rapidly growing home battery storage (BESS) market. The partnership builds on the company's Spruce Pro servicing platform, extending its reach beyond solar into battery energy storage.

Strategic Highlights

• Expands Total Addressable Market: Enters the rapidly scaling home battery storage market, one of the fastest-growing sectors in clean energy.
• Capital-Light Growth Model: Monetizes Spruce's existing solar fleet through battery upgrades without requiring asset ownership or heavy capital investment.
• New Recurring Revenue Streams: Expands Spruce's revenue potential through its partnership-driven battery storage (BESS) program, creating long-term value through installation activity and enhanced customer engagement, while enabling homeowners to benefit from emerging grid participation opportunities.
• Customer Retention & Value Lift: Deepens customer relationships, boosts lifetime value, and enhances long-term brand loyalty.
• Strategic Positioning: Reinforces SPRU's leadership in distributed clean energy while setting the stage for homeowner participation in future grid-balancing and virtual power plant initiatives.

This partnership unlocks a powerful new growth engine for Spruce, one that delivers high margin, capital-light revenue by enabling battery upgrades and long-term customer value creation through its partnership with Treehouse. Together, the two companies will roll out a nationwide program to offer Spruce's extensive customer base a seamless path to upgrade existing solar systems with energy storage, delivering resilience, control, and long-term energy savings.

"Battery storage is the next wave of value creation in distributed energy, and Spruce is built to lead it," said Chris Hayes, CEO of Spruce Power. "Our partnership with Treehouse gives us the ability to rapidly activate our massive installed base and capture the upside of storage adoption, without the capital intensity of traditional deployment. It's a strategic win that accelerates both growth and profitability."

Through Treehouse's proprietary software and proven hands-on expertise in home electrification, Spruce customers will gain access to best-in-class battery solutions with a turnkey, streamlined upgrade experience, from system design and permitting through to installation by Treehouse's team of licensed electricians. Spruce customers can get started at https://pages.treehouse.pro/spruce

"Treehouse is proud to partner with Spruce in pursuit of our shared vision of home energy systems that deliver backup power and lower energy costs for customers," said Eric Owski, Co-Founder and CEO at Treehouse. "With ever lower battery prices and Treehouse's software-enabled installation process, there's never been a better opportunity for Spruce customers to protect their homes from outages and increase the value of their energy systems."

With more than 85,000 residential solar systems under management nationwide, Spruce Power is uniquely positioned to drive battery adoption at scale, creating new opportunities for growth and value creation, while empowering homeowners to participate in emerging grid services opportunities such as virtual power plants (VPPs).

About Spruce Power

Spruce Power Holding Corporation (NYSE: SPRU) is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners to benefit from rooftop solar power and battery storage. Our power as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company owns the cash flows from approximately 85,000 home solar assets and contracts across the United States. For additional information, please visit www.sprucepower.com.

About Treehouse

Treehouse is a software-enabled installation platform for electrification projects. The company's mission is to accelerate the decarbonization of the places we live and work by simplifying the electrification journey. By operating as a centralized, end-to-end partner, Treehouse helps companies - including auto retailers and manufacturers, fleet providers, utilities, and electrification hardware manufacturers - scale electrification programs nationwide and deliver seamless, delightful installation experiences for customers. Treehouse has raised more than $25M in financing to date from investors and partners including Flourish Ventures, Eaton, Veriten, MassMutual Ventures and more.

Forward Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and rules promulgated thereunder. Forward-looking statements generally are characterized by the use of certain words or phrases (and their derivatives) such as "believe," "continue," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "goals," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include statements regarding the Company's initiatives and future opportunities with respect to battery storage and the expected benefits with respect to participating in the home battery energy storage market. These statements are based on our current plans and strategies, as well as various assumptions, whether or not identified in this press release, and on the current expectations of management, all of which management believes are reasonable as of the date of this report, and reflect our current assessment of the risks and uncertainties related to the Company's business and are made as of the date of this press release. Although we believe that our expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of our existing knowledge about the Company's business and operations, there can be no assurance that actual future results, performance or achievements of, or trends affecting, us will not differ materially from any future results, performance, achievements or trends expressed or implied by such forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by forward-looking statements, including but not limited to: expectations regarding the growth of the solar industry and home battery storage; uncertainties relating to the solar energy industry and the energy storage market; the ability to identify and complete strategic acquisitions or strategic relationships; s; the ability to develop and market new products and services; the effects of pending and future legislation; the highly competitive nature of the Company's business and markets; the ability to execute on and consummate business plans in anticipated time frames; litigation, complaints, product liability claims, government investigations and/or adverse publicity; cost increases or shortages in the materials necessary to support the Company's products and services; the introduction of new technologies; the impact of natural disasters and other events beyond our control, such as hurricanes, wildfires or pandemics, on the Company's business, results of operations, financial condition, regulatory compliance and customer experience; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; risks related to the rollout of the Company's business and the timing of expected business milestones; the effects of competition on the Company's future business; the availability of capital, including the availability and cost of borrowings; and the other risks discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 31, 2025, subsequent Quarterly Reports on Form 10-Q and other documents that the Company files with the SEC in the future. These factors are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can the Company assess the impact of all such risk factors on its business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.