Spruce Power proposes settlement of derivative shareholder litigation; hearing July 31, 2024

SPRUCE POWER HOLDING CORP

Court preliminarily approved stipulation on April 22, 2024; final fairness hearing set for July 31, 2024.
Settlement requires Spruce Power to adopt/maintain corporate governance reforms as detailed in Exhibit A.
No monetary recovery for stockholders; fee and expense amount for plaintiffs' counsel to be set by court.
Service awards up to $2,000 each to four plaintiffs, payable from any approved fee and expense amount.
Upon final approval, Delaware derivative action will be dismissed with prejudice and litigation demand withdrawn.

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