Spruce Power (SPRU) Announces $50M Share Buyback

Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce”) today announced that its board of directors has authorized a share repurchase program (the "Share Repurchase Program") to repurchase up to $50 million of Spruce’s common stock on or before May 15, 2027, beginning upon the expiry of its current share repurchase program on May 15, 2025. The Board believes that the authorization of the Share Repurchase Program will enable Spruce to opportunistically return value to shareholders.

The Share Repurchase Program authorizes Spruce to effect repurchases through open market transactions, privately negotiated transactions, Rule 10b5-1 trading plans and/or Rule 10b-18 trading plans, and other means. Spruce is not obligated to repurchase any specific number of shares or dollar amount and may discontinue the Share Repurchase Program at any time. The timing, number, and purchase price of share repurchases, if any, will be determined by Spruce’s management in its discretion and will depend on a number of factors, including the market price of the shares, general market and economic conditions, and other alternatives available to Spruce.

Under Spruce’s previous share repurchase program, which commenced on May 15, 2023, through May 12, 2025, Spruce repurchased an aggregate of 1,870,827, shares at a weighted average price of approximately $4.33 per share, inclusive of transaction costs.

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