Communication
It is our goal to provide you with appropriate updates as we work through each phase of the process. We will provide you with email updates, organize All Hands
Meetings, and cascade messaging down through your leadership.
Culture Survey
As part of the integration planning process, we will participate in a company-wide culture survey that will launch on August 10. The survey will consist
of a set of 100 questions necessary to cover all of the major dimensions and management practices that can help ensure a successful integration. Please encourage your teams to participate and allow them the opportunity to complete the survey. We
anticipate completing the survey should take no more than 30 minutes.
Thank you for continuing to move Vivint Solar forward as we work to fully recover
from the impacts of Covid-19 and prepare for the acquisition by Sunrun.
David Bywater
CEO, Vivint Solar
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited
to, statements based upon or relating to Sunrun Inc.s (Sunrun) and Vivint Solar, Inc.s (Vivint Solar) expectations or predictions of future financial or business performance or conditions. Forward-looking
statements generally relate to future events or future financial or operating performance. In some cases, you can identify forward-looking statements by terms such as may, will, should, would,
expects, plans, anticipates, could, intends, target, projects, contemplates, believes, estimates, predicts,
potential, will be, will likely result or continue or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking
statements may include, but are not limited to, statements concerning the expected benefits of the transaction; cost synergies and opportunities resulting from the transaction; Sunruns leadership position in the industry; the availability of
rebates, tax credits and other financial incentives including solar renewable energy certificates, or SRECs, and federal and state incentives; regulations and policies related to net metering and interconnection limits or caps and decreases to
federal solar tax credits; determinations by the Internal Revenue Service of the fair market value of Sunruns and Vivint Solars solar energy systems; changes in regulations, tariffs and other trade barriers and tax policy; the retail
price of utility-generated electricity or electricity from other energy sources; federal, state and local regulations and policies governing the electric utility industry and developments or changes with respect to such regulations and policies; the
ability of Sunrun and Vivint Solar to manage their supply chains (including the availability and price of solar panels and other system components and raw materials) and distribution channels and the impact of natural disasters and other events
beyond their control; the ability of Sunrun and Vivint Solar and their industry to manage recent and future growth, product offering mix, and costs (including, but not limited to, equipment costs) effectively, including attracting, training and
retaining sales personnel and solar energy system installers; Sunruns and Vivint Solars strategic partnerships and expected benefits of such partnerships; the sufficiency of Sunruns and Vivint Solars cash, investment fund
commitments and available borrowings to meet anticipated cash needs; the need and ability of Sunrun and Vivint Solar to raise capital, refinance existing debt and finance their respective obligations and solar energy systems from new and existing
investors; the potential impact of interest rates on Sunruns and Vivint Solars interest expense; the course and outcome of litigation and investigations and the ability of Sunrun and Vivint Solar to consummate the transactions
contemplated by the definitive transaction agreement in a timely manner or at all. These statements are not guarantees of future performance; they reflect Sunruns and Vivint Solars current views with respect to future events and are
based on assumptions and estimates and subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from expectations or results projected or implied by
forward-looking statements. These risks include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive transaction agreement or the failure to satisfy the closing
conditions; the possibility that the consummation of the proposed transactions is delayed or does not occur, including the failure of the parties stockholders to approve the proposed transactions; uncertainty regarding the timing of the
receipt of required regulatory approvals for the merger and the possibility