Spruce Power announced that Debora Frodl will be retiring, and Sarah Sclarsic will be stepping down, from the Company's board of directors (the “Board”) effective December 31, 2022. Ms. Frodl is retiring after serving as a Company director since May 2018, and as Chair since December 2020. She has also served as chair of the Nomination and Governance Committee and as a member of the Audit Committee.

Ms. Sclarsic, who has served on the board since December 2020 as a member of the Audit Committee, is departing to pursue opportunities through a climate technology venture capital firm that she co-founded in 2021. Simultaneous to Ms. Frodl's retirement and Ms. Sclarsic's resignation, the board has elected current director Chris Hayes as the new Chair, effective January 1, 2023. Mr. Hayes has served as a director of the Company since May 2018.

Chris has more than twenty years' experience in clean energy and sustainability and is founder and managing partner of Alturus, which invests in sustainable infrastructure projects.