Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading energy services company, today announced the pricing of its Hestia I securitization, which indirectly benefits from a partial guarantee provided by the U.S. Department of Energy (DOE) Loan Programs Office (LPO).

“Project Hestia stands as a testament to Sunnova and the DOE’s unwavering commitment to spearheading transformative initiatives that benefit customers, empower communities, and enhance the overall energy landscape in the United States,” said William J. (John) Berger, founder and Chief Executive Officer of Sunnova. “This successful pricing of Project Hestia’s first securitization showcases our continuing dedication to pioneering sustainable, reliable, and cost-effective energy solutions.”

“With this securitization, Project Hestia has set remarkable benchmarks for both credit ratings and cost of capital within our sector,” said Robert Lane, Chief Financial Officer of Sunnova. “Hestia I achieved a weighted average spread of 197 basis points over the benchmark interest rate through the BB level. With the indirect benefit DOE partial loan guarantee, Sunnova has not only made history by issuing the first residential solar offering with an expected AAA rating for its senior tranche notes but has also, upon close, successfully attracted 20 new fixed income investors to our ABS channel.”

The securitization consists of $219.6 million in indicatively rated AAA (sf)/AA+(sf) 5.75% notes and $24.4 million in indicatively rated BB (sf) 8.25% notes. The notes carry a weighted average life of approximately 5.01 years through the Anticipated Repayment Date in November of 2030 and will have a rated final maturity in December 2050. The notes are not directly guaranteed by DOE.

The notes are backed by a diverse portfolio of rooftop solar systems, battery storage systems, and combined rooftop plus storage systems distributed across more than 20 states and territories. The transaction is expected to close by November 8, 2023, subject to customary closing conditions.

The notes have not been and will not be registered under the Securities Act of 1933, as amended, or applicable state securities laws, and, unless so registered, such securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation of an offer or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer of the notes will be made only by means of a private offering circular.

Sunnova was advised by ATLAS SP Partners and Citi on the transaction. Baker Botts acted as legal advisor to Sunnova and Kramer Levin acted as legal advisor to the financial advisors.

FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’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 Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding the expectations in connection with the offering, the benefits of the Hestia program, the size and terms of the offering, the credit ratings of the notes, and the anticipated closing date of the offering. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including supply chain uncertainties, results of operations and financial position, Sunnova’s competition, changes in regulations applicable to Sunnova’s business, fluctuations in the solar and home-building markets, availability of capital and Sunnova’s ability to attract and retain dealers and customers and manage its dealer and strategic partner relationships. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the U.S. Securities and Exchange Commission, including Sunnova’s annual report on Form 10-K for the year ended December 31, 2022 and subsequent quarterly reports on Form 10-Q. The forward-looking statements in this press release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.

About Sunnova Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading 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 www.sunnova.com.

Sunnova Media Contact: Srishti Ahuja Tandon Srishti.ahujatandon@sunnova.com Sunnova Investor Contact: Rodney McMahan 877-770-5211 IR@sunnova.com

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