Obtains interim approval for $90 million in debtor-in-possession financing from certain of its corporate bondholders to support operations throughout sale process

Receives Court approval on asset sale agreements with ATLAS SP Partners and Lennar Homes, LLC

Sunnova Energy International Inc. (“Sunnova” or the “Company”) today announced that it has received approval for a series of strategic transactions intended to support a value-maximizing sale process as part of its ongoing Chapter 11 proceedings. This announcement marks an important next step following the Company’s, and certain of its subsidiaries’, voluntary chapter 11 filings in the United States Bankruptcy Court for the Southern District of Texas (the “Court”) on June 8, 2025.

“These transactions serve as a critical step forward in Sunnova’s constructive restructuring and reflect the committed support from our key financial stakeholders,” said Paul Mathews, Chief Executive Officer of Sunnova. “With this additional capital in place, we are positioned to maintain uninterrupted service to our customers, fulfill our obligations to employees by paying wages and benefits, and continue operating our core business throughout the sale process. I’m proud of our team’s dedication and encouraged by the momentum we’re building toward a value-maximizing outcome for all our stakeholders.”

Secures Debtor-in-Possession Financing from Corporate Bondholders

Sunnova has received Bankruptcy Court approval authorizing entry into a $90 million debtor-in-possession (“DIP”) financing agreement with a group of the Company’s corporate bondholders to support operations during the chapter 11 sale process. The Court has granted interim approval for Sunnova to immediately access $15 million of these funds. This financing will enable the Company to continue core operations in the ordinary course, including monitoring, managing, and servicing customers’ systems, and meeting post-petition obligations to partners and stakeholders.

Court Approval on ATLAS SP Partners and Lennar Homes, LLC Transactions

On June 11, 2025, Sunnova received Court approval on its agreement with ATLAS SP Partners and certain of the Company’s warehouse lenders through which Sunnova will receive $15 million. Additionally, on June 12, 2025, the Company received Court approval on its agreement with Lennar Homes, LLC, through which Lennar will acquire certain assets related to Sunnova’s New Homes business for aggregate consideration of approximately $16 million. Sunnova intends to use the proceeds from these transactions to support its operations during the chapter 11 process.

Stakeholders can find additional information regarding the Company’s chapter 11 process at https://www.sunnova.com/lp/financialrestructuring and at https://restructuring.ra.kroll.com/Sunnova. Stakeholder with questions can contact the Company’s claims agent, Kroll, by calling (888) 975-5436 (U.S. and Canada toll free) or +1 (646) 930-4686 (International) or emailing SunnovaInfo@ra.kroll.com.

Advisors

Kirkland & Ellis LLP and Bracewell LLP are serving as legal counsel, Alvarez & Marsal is serving as financial advisor, Moelis & Company LLC is serving as investment banker, and C Street Advisory Group is serving as strategic communications advisor to the Company.

Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP are serving as legal counsel and Evercore Inc. is serving as investment banker to the DIP lenders.

About Sunnova

Sunnova Energy International Inc. is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence™. For more information, visit http://www.sunnova.com.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “going to,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern the Company’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding the debtors’ continued operation of the business in the ordinary course throughout the sale process and as “debtors-in-possession”; the Company’s expectation to enter into certain agreements and any assumptions underlying any of the foregoing. All statements, other than statements of historical fact, are forward-looking statements. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the Company’s ability to fund its planned operations and its ability to continue as a going concern; the adverse impact of the chapter 11 cases on the Company’s business, financial condition and results of operations; the Company’s ability to improve its liquidity and long term capital structure and to address its debt service obligations; the Company’s ability to maintain relationships with customers, employees and other third parties as a result of the chapter 11 cases; the effects of the chapter 11 cases on the Company and the interests of various constituents, including holders of the Company’s common stock; the Company’s ability to obtain court approvals with respect to motions filed or other requests made to the Court throughout the course of the chapter 11 cases; the length of time that the Company will operate under chapter 11 protection and the continued availability of operating capital during the pendency of the chapter 11 cases; risk associated with third-party motions in the chapter 11 cases; the Company’s ability to maintain the listing of its common stock on The New York Stock Exchange, and the resulting impact of a delisting; and the risks and other important factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as amended, and subsequent Quarterly Reports on Form 10-Q. These forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

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