Sunnova Energy International : Analyst Day 2022

ANALYST DAY 2022

Rodney McMahan

Vice President, Investor Relations

Analyst Day 2022

Disclaimers

• This presentation and the accompanying oral presentations contain 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 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 presentation include, but are not limited to, statements regarding our level of growth, number of targeted markets, future net contracted customer value, technological developments, future number of customers, service levels, future financial and operating performance, including our outlook and guidance, demand for Sunnova's products and services, future business opportunities, maintenance and growth of our dealer and sub-dealer network, and the future of solar energy and energy storage services. 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 risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, supply chain uncertainties, results of operations and financial position, our competition, changes in regulations applicable to our business, fluctuations in the solar and home-building markets, availability of capital, our ability to attract and retain dealers and customers and manage our dealer and strategic partner relationships, the ability to successfully integrate the SunStreet acquisition, the ability of Sunnova to implement our plans, forecasts and other expectations with respect to SunStreet's business and realize the expected benefits of the acquisition. The forward-looking statements contained in this presentation are also subject to other risks and uncertainties, including those more fully described in Sunnova's filings with the Securities and Exchange Commission, including Sunnova's annual report on Form 10-K for the year ended December 31, 2021, The forward-looking statements in this presentation 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.
• In addition to financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation and the accompanying oral presentation include certain non-GAAP financial measures, including Recurring Operating Cash Flow. Non-GAAP measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP. Non-GAAP measures have limitations as analytical tools, and they should not be considered in isolation or as a substitute for analysis of other GAAP financial measures. Recurring Operating Cash Flow is a non-GAAP measure that helps management, investors and analysts in evaluating Sunnova's liquidity and ability to service our contractual obligations. This measurement is not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of liquidity. The GAAP measure most directly comparable to Recurring Operating Cash Flow is net cash used in operating activities. Recurring Operating Cash Flow has limitations as an analytical tool,and should not be considered in isolation or as a substitute for analysis of Sunnova's results as reported under GAAP. In addition, Recurring Operating Cash Flows is not necessarily comparable to Recurring Operating Cash Flows as calculated by other companies. Sunnova is unable to reconcile projected Recurring Operating Cash Flow to the most comparable financial measure calculated in accordance with GAAP because of fluctuations in interest rates and their impact on our unrealized and realized interest rate hedge gains or losses. Therefore, the reconciliation of projected Recurring Operating Cash Flow to projected net cash provided by (used in) operating activities is not available without unreasonable effort.
• This presentation includes operational metrics such as number of customers, employees, markets, strategic partners, dealers and builders as well as net contracted customer value. These operational metrics are not necessarily comparable to the same or similar metrics as calculated by other companies. This presentation and the accompanying oral presentation also contain market data, statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to such information. Some data are also based on Sunnova's good faith estimates, which are derived from our review of internal sources as well as the independent sources described above. Although Sunnova believes these sources are reliable, we have not independently verified the accuracy or completeness of the information contained in the industry publications and other publicly available information. Accordingly, Sunnova makes no representations as to the accuracy or completeness of that information nor do we undertake to update such information after the date of this presentation.

Analyst Day 2022

© 2022 Sunnova Energy International, Inc. All rights reserved.

Presenters

William J. (John) Berger

Chairman, President and Chief

Executive Officer

Sunnova: 2012

Previously: SunCap Financial, Standard Renewable Energy

Chris Hayden

Executive Vice President,

Chief Information Officer

Sunnova: 2016

Previously: Stream Energy, TXU Energy, Ernst & Young

Michael Grasso

Executive Vice President,

Chief Marketing and Growth Officer

Sunnova: 2018

Previously: Sunrun, TXU Energy, USAA, AT&T

Robert Lane

Executive Vice President,

Chief Financial Officer

Sunnova: 2019

Previously: Spark Energy, Emerge Energy Services

Analyst Day 2022

8:30 - 10:15

Rodney McMahan, Vice President Investor Relations

William J. (John) Berger, Chairman, President and CEO

Michael Grasso, Executive Vice President,

Chief Marketing & Growth Officer

10:15 - 10:30

Break

Thursday, Nov 17, 2022

10:30 - 11:30

Chris Hayden, Executive Vice President, Chief Information Officer

Rob Lane, Executive Vice President, Chief Financial Officer

11:30 - 12:15

Analyst Day 2022