Document:

EX-4.6

 Exhibit 4.6 

FIRST SUPPLEMENTAL INDENTURE 

This First Supplemental Indenture (this “Supplemental Indenture”), dated as of November 21, 2017 (the “Effective
Date”), is by and among Sunnova Energy Corporation (the “Issuer”) and Wilmington Trust, National Association, as trustee (the “Trustee”), relating to those certain 12.00% Senior Secured Notes due 2018 (each
a “Note” and collectively, the “Notes”) of the Issuer, issued pursuant to the Indenture, dated as of April 24, 2017 (the “Indenture”), by and between the Issuer, the Trustee and Wilmington
Trust, National Association, as collateral trustee. 
 INTRODUCTION 

WHEREAS, the Board of Directors of the Issuer has approved the Issuer’s issuance of up to $40,000,000 of a new series of senior
convertible preferred equity (together with the proceeds of any liquidation preference, whether now existing or hereinafter accruing, in respect thereof, the “Senior Convertible Preferred Equity”) pursuant to the Certificate of
Incorporation of the Issuer (as amended and restated from time to time, the “Restated Certificate”), attached hereto as Exhibit A-1, and as further described pursuant
to that certain Unanimous Written Consent in Lieu of a Meeting of the Board of Directors of the Issuer, dated as of November 6, 2017, attached hereto as Exhibit A-2; 

WHEREAS, the Board of Directors of the Issuer has approved and the holders of the Notes have consented to the Issuer’s incurrence of up
to $15,000,000 in new subordinated indebtedness (together with any PIK payments in respect thereof, the “New Subordinated Indebtedness”) pursuant to the promissory note (the “New Subordinated Indebtedness Note”)
attached hereto as Exhibit B; 
 WHEREAS, the Issuer wishes that the Trustee acknowledge and agree to a limited waiver of the notice
period set forth in Section 3.03 of the Indenture in order to waive the requirement that the Issuer provide notice to the Trustee at least 30 days in advance of the redemption date (as contemplated therein) and instead provide such notice at
least 15 days in advance of the redemption date, subject to the terms and conditions hereof; 
 WHEREAS, the Issuer wishes that the Trustee
acknowledge and agree, if and to the extent that each of the issuance of the Senior Convertible Preferred Equity, any future issuances of Equity Interests permitted under Section 4.07(b)(ii) of the Indenture and the execution, delivery and
performance of any related subscription agreements with the Sponsors constitute a Default or a breach of any limitation set forth in the last sentence of Section 4.07 of the Indenture, that such breach or Default is deemed to be waived; 

WHEREAS, the Issuer wishes that, in connection with the bring down of the representations and warranties set forth in the Note Documents
pursuant to Section 3 hereof; 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 WHEREAS, Section 9.03 of the Indenture provides that a waiver to the Indenture shall
become effective upon the requisite consents of the holders of the Notes, the receipt by the Trustee of the Opinion of Counsel and Officers’ Certificate required under Sections 9.05 and 14.04 of the Indenture and the execution by the Trustee of
the waiver; and WHEREAS, all actions and documents required for the execution and delivery of this Supplemental Indenture have been provided and this Supplemental Indenture is authorized pursuant to the Indenture, as applicable. 

NOW, THEREFORE, the Issuer and the Trustee hereby agree as follows: 

Section 1. Defined Terms; Other Definitional Provisions. As used in this Supplemental Indenture, each of the terms defined
in the opening paragraph and the Recitals above shall have the meanings assigned to such terms therein. Each term defined in the Indenture and used herein without definition shall have the meaning assigned to such term in the Indenture, unless
expressly provided to the contrary. Article, Section, Schedule, and Exhibit references are to Articles and Sections of and Schedules and Exhibits to this Supplemental Indenture, unless otherwise specified. The words “hereof”,
“herein”, and “hereunder” and words of similar import when used in this Supplemental Indenture shall refer to this Supplemental Indenture as a whole and not to any particular provision of this Supplemental Indenture. The term
“including” means “including, without limitation”. Paragraph headings have been inserted in this Supplemental Indenture as a matter of convenience for reference only and it is agreed that such paragraph headings are not a part of
this Supplemental Indenture and shall not be used in the interpretation of any provision of this Supplemental Indenture. 
 Section 2.
Consent and Acknowledgement 
 (a) Subject to the terms and conditions of this Supplemental Indenture and pursuant to
Section 9.02 of the Indenture, the Issuer and the Trustee acknowledge and agree that (i) the issuance of the Senior Convertible Preferred Equity, (ii) any future issuances of Equity Interests of the Issuer to the Sponsor or any
portfolio company of the Sponsor that conform to the requirements of Section 4.07(b)(ii) of the Indenture and (iii) the execution, delivery and performance of any related subscription agreements with the Sponsor for such Equity Interests,
if and solely to the extent that such actions are prohibited under the last sentence of Section 4.07 of the Indenture, such breach of such prohibition (and the resulting Default) is hereby deemed to be waived; provided, however,
that (1) the foregoing shall not permit issuances of Equity Interests of the Issuer to any portfolio company of the Sponsor to the extent that such portfolio companies would beneficially own more than twenty percent (20%) in the aggregate of
the outstanding Voting Stock of the Issuer (calculated on a fully diluted basis) and (2) nothing contained in this Supplemental Indenture shall be deemed to permit the Issuer to declare or pay any dividend or make any distribution on account of
any such Equity Interests or to make any cash payment to the holders of any such Equity Interests, except, for the avoidance of doubt, as permitted by Section 4.04 of the Indenture. 

(b) The parties hereby acknowledge and agree that, together with the funding of the Preferred Stock Commitment on October 3, 2017 in
accordance with Section 4.20(a) of the Indenture, upon the funding of the Senior Convertible Preferred Equity on or about the date hereof resulting in net proceeds of at least $40,000,000 to the Issuer, the Issuer shall have satisfied the
covenant to fund an additional subscription by any or all of the Issuer’s stockholders for Equity Interests of the Issuer (other than Disqualified Stock) resulting in net proceeds to the Issuer (taken together with the amount funded in respect
of the Preferred Stock Commitment) of at least $80,000,000 in accordance with Section 4.20(b) of the Indenture. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
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 (c) The parties agree, to the extent the incurrence of the New Subordinated Indebtedness is,
or when incurred was, a breach or a Default of Sections 4.03 and 4.07 of the Indenture, such breach or Default is deemed to be waived. 
 (d)
The Trustee acknowledges the terms and conditions of the New Subordinated Indebtedness and consents to the Issuer’s entry into, incurrence of and performance of its obligations thereunder (the consents and waivers set forth in Section 2(c)
and this Section 2(d), collectively, the “Consent and Waiver”); provided, however, that the Consent and Waiver is specific to the New Subordinated Indebtedness as described and authorized under this Supplemental Indenture and,
until the Notes have been paid in full, no refinancing, modification or cash payment (whether at Maturity or otherwise) of the New Subordinated Indebtedness or transfer or assignment of the rights or obligations with respect thereto by the Issuer or
the Sponsors shall be permitted hereunder and any such refinancing, modification, transfer, cash payment or assignment shall be a breach of the Indenture and this Agreement. 

(e) The Issuer and the Trustee hereby consent to a limited waiver of the notice period in Section 3.03 of the Indenture in order to waive
the requirement that the Issuer provide notice to the Trustee at least 30 days in advance of the redemption date (as contemplated therein) and instead provide such notice at least 15 days in advance of the redemption date. 

(f) With respect to the Notice of Conditional Full Redemption, dated September 14, 2017, delivered by the Issuer to the holders of Notes
(as it may be supplemented from time to time), and the related notice in the form of an Officers’ Certificate, the Issuer and the Trustee hereby consent to a limited waiver of the notice period in Section 3.05(b) of the Indenture in order
to waive the requirement that the Issuer provide notice to the Trustee at least 5 Business Days prior to the date on which the Trustee will provide notice to holders (as contemplated therein) and instead provide such notice on the same Business Day
on which the Trustee will provide notice to holders of Notes, subject to the terms and conditions hereof and provided that the Trustee has received a draft of the notice in form satisfactory to it prior to the date such notice is to be sent by the
Trustee. 
 Section 3. Representations and Warranties 

(a) The Issuer hereby represents and warrants that: (i) after giving effect to this Supplemental Indenture and the First Amendment to
Purchase Agreement, dated as of the date hereof, by and among the Issuer and the holders of the Notes, the representations and warranties contained in Article III of the Purchase Agreement and in each other Note Document are true and correct
in all material respects, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall be true and correct in all respects, on and as of the
Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects, except for any representation and warranty that is qualified
by materiality or reference to Material Adverse Effect, which such representation and warranty shall 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
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be true and correct in all respects, as of such earlier date; (ii) after giving effect to this Supplemental Indenture, no Event of Default has occurred and is continuing; (iii) the
execution, delivery and performance of this Supplemental Indenture are within the corporate power and authority of Issuer and have been duly authorized by appropriate corporate action and proceedings; (iv) this Supplemental Indenture
constitutes the legal, valid, and binding obligation of the Issuer enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors
generally and general principles of equity; (v) there are no governmental or other third party consents, licenses and approvals required in connection with the execution, delivery, performance, validity and enforceability of this Supplemental
Indenture; and (vi) the security interests under the Security Documents are valid and subsisting and secure the Issuer’s obligations under the Notes Documents. 

Section 4. Acknowledgements and Agreements. 

(a) The Issuer does hereby adopt, ratify, and confirm Indenture and the other Note Documents and acknowledges and agrees that the Indenture and
the other Note Documents are and remain in full force and effect, and the Issuer acknowledges and agrees that its respective liabilities and obligations under the Indenture and the other Note Documents are not impaired in any respect by this
Supplemental Indenture. 
 (b) The Issuer hereby also agrees and acknowledges that no course of dealing and no delay in exercising any right,
power, or remedy conferred to the Trustee Indenture or in any other Note Documents or now or hereafter existing at law, in equity, by statute, or otherwise shall operate as a waiver of or otherwise prejudice any such right, power, or remedy. 

(c) For the avoidance of doubt, the Issuer hereby also agrees and acknowledges that Section 2 above shall not operate
as a waiver of or otherwise prejudice any of the rights and remedies of the Trustee otherwise other than as expressly provided in Section 2. The Trustee hereby expressly reserves all of its rights, remedies, and claims
under the Note Documents. Nothing in this Supplemental Indenture shall constitute a waiver or relinquishment of (i) any Default or Event of Default under any of the Note Documents, (ii) any of the agreements, terms or conditions contained
in any of the Note Documents (other than this Supplemental Indenture), (iii) any rights or remedies of the Trustee with respect to the Note Documents (other than this Supplemental Indenture) or (iv) the rights of the Trustee to collect the
full amounts owing under the Note Documents as and when such amounts are due and payable under the terms of the Note Documents. 
 (d) This
Supplemental Indenture is a Note Document for the purposes of the provisions of the other Note Documents. Without limiting the foregoing, any breach of representations, warranties, and covenants under this Supplemental Indenture shall be a Default
or Event of Default, as applicable, under the Indenture. 
 (e) The Issuer shall indemnify and hold harmless the Trustee from and against any
and all damages, losses, costs, and expenses (including, without limitation, legal fees and expenses) relating to this Supplemental Indenture in accordance with Section 7.07 of the Indenture. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
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 (f) The Issuer covenants and agrees to pay the Trustee’s fees and expenses in
connection with the execution and delivery of this Supplemental Indenture in accordance with Section 7.07 of the Indenture. 

Section 5. Conditions to Effectiveness. This Supplemental Indenture shall become effective and enforceable against the
parties hereto on the Effective Date, with respect to the consents granted in Sections 2(a) and 2(b) herein, and as of August 25, 2017, with respect to the consents granted in Sections 2(c) through 2(f) herein, upon
the satisfaction of the following conditions precedent: 
 (a) the Trustee shall have received this Supplemental Indenture duly executed by
the Issuer and the Trustee; 
 (b) the Issuer shall have paid on the Effective Date all costs and expenses which are payable pursuant to
Section 7.07 of the Indenture; and 
 (c) the Trustee shall have received the documents required to be delivered to it pursuant to the
Indenture, including evidence of the consent of Cede & Co., nominee for The Depository Trust Company, to the execution and delivery of this Supplemental Indenture. 

Section 6. Counterparts. This Supplemental Indenture may be signed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Transmission by facsimile or other electronic transmission of an executed
counterpart of this Supplemental Indenture shall be deemed to constitute due and sufficient delivery of such counterpart. 
 Section 7.
Successors and Assigns. This Supplemental Indenture shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted pursuant to the Purchase Agreement and Indenture. 

Section 8. Invalidity. In the event that any one or more of the provisions contained in this Supplemental Indenture shall
for any reason be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Supplemental Indenture. 

Section 9. Governing Law. This Supplemental Indenture shall be governed by and construed in accordance with the internal
procedural and substantive laws of the State of New York, without giving effect to the choice of law provisions of such state that would cause the application of the laws of any other jurisdiction. 

Section 10. Record Date. The Issuer informs the Trustee that the voting record date for purposes of this Supplemental
Indenture shall be November 7, 2017 (the “Record Date”). 
 Section 11. Entire Agreement. THIS
SUPPLEMENTAL INDENTURE, THE INDENTURE AND THE OTHER NOTE DOCUMENTS CONSTITUTE THE ENTIRE UNDERSTANDING AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY PRIOR AGREEMENTS, WRITTEN OR ORAL, WITH RESPECT THERETO.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
 [The remainder of this page has been left blank intentionally.] 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
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	ISSUER:
	
	SUNNOVA ENERGY CORPORATION
		
	By:	 	 /s/ Jordan Kozar

	Name: Jordan Kozar
	Title:   Chief Financial Officer

 Signature Page to 

Supplemental Indenture 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
			
	TRUSTEE:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Shawn Goffinet

	Name: Shawn Goffinet
	Title:   Assistant Vice President

 Signature Page to 

Supplemental Indenture 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Exhibit A-1 

Certificate of Incorporation 

[Attached] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

Delaware 
 The First
State 
 I, JEFFREY W. BULLOCK, SECRETARY OF STATE OF THE STATE OF DELAWARE, DO HEREBY CERTIFY THE ATTACHED IS A TRUE AND CORRECT COPY OF
THE RESTATED CERTIFICATE OF “SUNNOVA ENERGY CORPORATION”, FILED IN THIS OFFICE ON THE NINTH DAY OF NOVEMBER, A.D. 2017, AT 1:11 O`CLOCK P.M. 

A FILED COPY OF THIS CERTIFICATE HAS BEEN FORWARDED TO THE NEW CASTLE COUNTY RECORDER OF DEEDS. 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 FIFTH AMENDED AND RESTATED 

CERTIFICATE OF INCORPORATION 

OF 
 SUNNOVA ENERGY
CORPORATION 
 Sunnova Energy Corporation, a corporation organized and existing under the laws of the State of Delaware, hereby
certifies: 
 FIRST. The name of the corporation is Sunnova Energy Corporation. The corporation’s original Certificate of Incorporation
was filed with the Secretary of State of the State of Delaware on October 22, 2012. The corporation’s Amended and Restated Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on November 21,
2012. The corporation’s Second Amended and Restated Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on December 20, 2013. The corporation’s Third Amended and Restated Certificate of
Incorporation was filed with the Secretary of State of the State of Delaware on March 16, 2016. The corporation’s Fourth Amended and Restated Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on
April 24, 2017. 
 SECOND. This Fifth Amended and Restated Certificate of Incorporation was duly adopted in accordance with Sections
242 and 245 of the General Corporation Law of the State of Delaware, and in accordance with Article Fourth, restates, integrates and amends the provisions of the corporation’s Certificate of Incorporation, as amended and restated. 

THIRD. Upon the filing of this Fifth Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware,
the series of stock that was designated as the “Convertible Preferred Stock” in the Fourth Amended and Restated Certificate of Incorporation shall be redesignated as the “Series A Convertible Preferred Stock”. All references to
the previously designated “Convertible Preferred Stock” in this Fifth Amended and Restated Certificate of Incorporation have been adjusted to reflect the foregoing. 

FOURTH. This Fifth Amended and Restated Certificate of Incorporation hereby amends and restates the corporation’s Fourth Amended and
Restated Certificate of Incorporation to read in its entirety as set forth in Annex A hereto. 
 [REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 IN WITNESS WHEREOF, the undersigned has executed this Fifth Amended and Restated Certificate of
Incorporation on this 9th of November 2017. 
  

			
	SUNNOVA ENERGY CORPORATION
		
	By:	 	 /s/ William J. (John) Berger

		 	Name: William J. (John) Berger
		 	Title: Chief Executive Officer

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Annex A 

FIFTH AMENDED AND RESTATED 

CERTIFICATE OF INCORPORATION 

OF 
 SUNNOVA ENERGY
CORPORATION 
  
  

ARTICLE I 
 NAME 

Section I.1 The name of the Corporation is “Sunnova Energy Corporation” (the “Corporation”). 

ARTICLE II 
 REGISTERED
AGENT 
 Section II.1 The address of the registered office of the Corporation in the State of Delaware is 251 Little Falls Drive,
Wilmington, New Castle County, Delaware 19808. The registered agent at that address is Corporation Service Company. 
 ARTICLE III

 PURPOSE 
 Section
III.1 The nature of the business and the purposes to be conducted and promoted by the Corporation shall be to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (as
amended from time to time, the “DGCL”). 
 ARTICLE IV 

AUTHORIZED CAPITAL STOCK 

Section IV.1 The total number of shares of capital stock which the Corporation shall have the authority to issue shall be (i) one hundred
and sixteen million (116,000,000) shares of convertible preferred stock having a par value of $0.01 per share (“Convertible Preferred Stock”), (a) of which one hundred and five million (105,000,000) shares are designated as the
“Series A Convertible Preferred Stock” and (b) of which eleven million (11,000,000) shares are designated as the “Series B Convertible Preferred Stock”; and (ii) one hundred and eighty million
(180,000,000) shares of common stock having a par value of $0.01 per share (“Common Stock”). The voting power, preferences and relative participating, optional or other special rights and the qualifications, limitations or
restrictions of the above classes of stock are as specified below. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-1 

 Section IV.2 COMMON STOCK 

The Corporation shall have two classes of Common Stock: Series A Common Stock and Series B Common Stock. The Corporation shall have the
authority to issue one hundred and sixty million (160,000,000) shares of Series A Common Stock and twenty million (20,000,000) shares of Series B Common Stock. 

The designations and the powers, preferences and rights of the Common Stock are as follows 

(a) Voting. 

(i) The holders of shares of Series A Common Stock shall be entitled to one vote for each share of Series A Common Stock upon
all matters presented to the stockholders and shall have the right to vote for the election of directors and for all other purposes; provided, however, that except as otherwise required by law, holders of Series A Common Stock, as
such, shall not be entitled to vote on any amendment to this Certificate of Incorporation that relates solely to the terms of one or more outstanding series of Convertible Preferred Stock, if the holders of such affected series are entitled, either
separately or together with the holders of one or more other such series, to vote thereon pursuant to the Certificate of Incorporation or pursuant to the DGCL. 

(ii) The holders of shares of Series B Common Stock shall be nonvoting and shall not have the right to vote on any matter
involving the Corporation, except as required by applicable law. 
 (iii) The number of authorized shares of Common Stock, or
of any class or classes of Common Stock, may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of shares of capital stock of the Corporation representing a majority of the
votes represented by all outstanding shares of capital stock of the Corporation entitled to vote, irrespective of the provisions of Section 242(b)(2) of the DGCL. 

(b) Dividends. The holders of the Common Stock shall be entitled to such dividends in respect thereof (on a pro rata
basis based upon the number of then-outstanding shares of Common Stock) as may from time to time be declared by the Board of Directors of the Corporation (the “Board of Directors”), but only when and as declared by the Board of
Directors, out of any funds legally available for declaration of dividends, and subject to any provisions of this Certificate of Incorporation, any Certificate of Designation and any resolutions of the Board of Directors adopted pursuant to
authority contained herein and therein requiring that dividends be declared, paid or set aside upon the outstanding shares of Convertible Preferred Stock of any series or upon the outstanding shares of any other class of capital stock ranking senior
to the Common Stock as to dividends or that the Corporation fulfill any obligations it may have with respect to the redemption of any outstanding Convertible Preferred Stock as a condition to the declaration and/or payment of any dividend on the
Common Stock; provided, however, that no dividends may be declared, paid or set aside upon the outstanding shares of Common Stock unless and until all declared and unpaid dividends upon the outstanding shares of Convertible Preferred
Stock, if any, have been paid. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-2 

 (c) Liquidation. In the event of the voluntary or involuntary
liquidation, dissolution or winding up of the affairs of the Corporation, the holders of the Common Stock shall be entitled to share pro rata (based upon the number of then-outstanding shares of Common Stock) in the net assets available for
distribution to holders of Common Stock after satisfaction of the prior claims of the holders of shares of Convertible Preferred Stock of any series and shares of any other class of capital stock ranking senior to the Common Stock as to assets, in
accordance with the provisions of this Certificate of Incorporation, any Certificate of Designation and any resolutions of the Board of Directors adopted pursuant to authority herein contained. 

(d) Uncertificated Shares. Nothing in this Certificate of Incorporation or any Certificate of Designation limits or will
be interpreted to limit the power of the Board of Directors under the DGCL to provide that some or all of any or all classes or series of Convertible Preferred Stock or Common Stock shall be uncertificated. 

Section IV.3 CONVERTIBLE PREFERRED STOCK 

One hundred and five million (105,000,000) shares of the authorized and unissued Convertible Preferred Stock of the Corporation are hereby
designated as the “Series A Convertible Preferred Stock” (the “Series A Preferred Stock”) and eleven million (11,000,000) shares of the authorized and unissued Convertible Preferred Stock of the Corporation are hereby
designated as the “Series B Convertible Preferred Stock” (the “Series B Preferred Stock”). 
 The designations
and the powers, preferences and rights, and restrictions, qualifications and limitations, of the Convertible Preferred Stock are as follows: 

(a) Dividends. 

(i) From and after the date of the issuance of any shares of Series A Preferred Stock, dividends in the amount of 6% per annum
on the sum of the Series A Preferred Original Issue Price (as defined below) plus the amount of previously accrued dividends, measured quarterly, shall accrue on such shares of Series A Preferred Stock (subject to appropriate adjustment in the event
of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series A Preferred Stock) (all such accrued dividends, the “Accruing Series A Preferred Dividends”). Accruing Series A Preferred
Dividends shall accrue quarterly, whether or not declared, and shall be cumulative; provided, however, that except as set forth in the following sentence of this Section IV.3(a)(i) or in
Section IV.3(b)(i), such Accruing Series A Preferred Dividends shall be payable in cash only when, as and if declared by the Board of Directors and the Corporation otherwise shall be under no obligation to pay such Accruing
Series A Preferred Dividends. The Corporation shall not declare, pay or set aside any dividends on Common Stock (other than dividends on shares of Common Stock payable in shares 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-3 

 
of Common Stock) unless (in addition to the obtaining of any consents required elsewhere in the Certificate of Incorporation) the holders of the Series A Preferred Stock then outstanding shall
first receive, or simultaneously receive, a dividend on each outstanding share of Series A Preferred Stock in an amount equal to the sum of (i) the amount of the aggregate Accruing Series A Preferred Dividends then accrued on such share of
Series A Preferred Stock and not previously paid, and (ii) that dividend per share of Series A Preferred Stock as would equal the product of (1) the dividend payable on each share of Series A Common Stock and (2) the number of shares
of Series A Common Stock issuable upon conversion of a share of Series A Preferred Stock, in each case calculated on the record date for determination of holders entitled to receive such dividend. The “Series A Preferred Original Issue
Price” shall mean $5.3246735 per share, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series A Preferred Stock. 

(ii) From and after the date of the issuance of any shares of Series B Preferred Stock, the Company shall automatically
increase the Series B Preferred Original Issue Price (as defined below) of each outstanding share of Series B Preferred Stock, on a quarterly basis, by an amount equal to 14% per annum (the “Series B PIK Accretion”). The
“Series B Preferred Original Issue Price” shall mean $3.73 per share, subject to appropriate adjustment for any Series B PIK Accretion and in the event of any stock dividend, stock split, combination or other similar
recapitalization with respect to the Series B Preferred Stock. 
 (b) Liquidation, Dissolution or Winding Up; Certain
Mergers, Consolidations and Asset Sales. 
 (i) Preferential Payments to Holders of Convertible Preferred Stock.
Upon voluntary or involuntary liquidation, dissolution or winding up of the Corporation or any Deemed Liquidation Event (as defined below), subject to the rights of any class or series of capital stock of the Corporation ranking senior to the
Convertible Preferred Stock in respect of payments on liquidation, dissolution or winding up of the Corporation or any Deemed Liquidation Event: 

(A) Each holder of shares of Series B Preferred Stock then outstanding shall be entitled to payment out of the assets of the
Corporation available for distribution to its stockholders, prior and in preference to the holders of Series A Preferred Stock, Common Stock and any other class or series of capital stock of the Corporation ranking junior to the Series B Preferred
Stock by reason of their ownership thereof in respect of payment on liquidation, dissolution or winding up or any Deemed Liquidation Event, in an amount per share of Series B Preferred Stock (such amount, the “Series B Liquidation
Preference”) equal to the greater of (1) the Series B Preferred Original Issue Price, or (2) such amount per share as would have been payable had all shares of Series B Preferred Stock been converted into Series A Common Stock
pursuant to Section IV.3(d) immediately prior to such liquidation, dissolution, winding up or Deemed 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-4 

 
Liquidation Event (the amount payable pursuant to this sentence is hereinafter referred to as the “Series B Preferred Liquidation Amount”). If upon any such liquidation,
dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Series B Preferred Stock the full amount to
which they shall be entitled under this Section IV.3(b)(i)(A) Section IV.3(b)(i), the holders of shares of Series B Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the
respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full. 

(B) After the payment of all preferential amounts required to be paid to the holders of Series B Preferred Stock, each holder
of shares of Series A Preferred Stock then outstanding shall be entitled to payment out of the assets of the Corporation available for distribution to its stockholders, prior and in preference to the holders of Common Stock and any other class or
series of capital stock of the Corporation ranking junior to the Series A Preferred Stock by reason of their ownership thereof in respect of payment on liquidation, dissolution or winding up or any Deemed Liquidation Event, in an amount per share of
Series A Preferred Stock (such amount, the “Series A Liquidation Preference”) equal to the greater of (1) the sum of (x) the Series A Preferred Original Issue Price, plus (y) any Accruing Series A Preferred Dividends
accrued but unpaid to the date fixed for liquidation, dissolution or winding up or of the Deemed Liquidation Event (it being understood that the Series A Liquidation Preference as of any date shall for all purposes hereunder be deemed to include
Accruing Series A Preferred Dividends that have accrued thereon, whether or not declared, since the dividend payment date immediately preceding the date of such liquidation, dissolution or winding up or Deemed Liquidation Event to the extent unpaid
as of such date) or (2) such amount per share as would have been payable had all shares of Series A Preferred Stock been converted into Series A Common Stock pursuant to Section IV.3(d) immediately prior to such liquidation, dissolution,
winding up or Deemed Liquidation Event (the amount payable pursuant to this sentence is hereinafter referred to as the “Series A Preferred Liquidation Amount”). If upon any such liquidation, dissolution or winding up of the
Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Series A Preferred Stock the full amount to which they shall be entitled
under this Section IV.3(b)(i)(B), the holders of shares of Series A Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in
respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-5 

 (ii) Payments to Holders of Common Stock. In the event of any
voluntary or involuntary liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, after the payment of all preferential amounts required to be paid to the holders of shares of Convertible Preferred Stock, the remaining
assets of the Corporation available for distribution to its stockholders shall be distributed among the holders of shares of Common Stock, pro rata based on the number of shares held by each such holder. 

(iii) Deemed Liquidation Events. 

(A) Each of the following events shall be considered a “Deemed Liquidation Event” unless the holders of at
least 75% of the outstanding shares of Series A Preferred Stock and Series B Preferred Stock (with the shares of Series A Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been converted
into Series A Common Stock pursuant to Section IV.3(d) (whether or not such shares of Series B Preferred Stock are then convertible)) elect otherwise by written notice sent to the Corporation at least three (3) days prior to the effective date
of any such event: 
 (1) a merger or consolidation in which 

(I) the Corporation is a constituent party or 

(II) a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to
such merger or consolidation, except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to
represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (1) the surviving or resulting
corporation; or (2) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; or 

(2) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related
transactions, by the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or the sale or disposition (whether by merger, consolidation or otherwise) of one
or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-6 

 
its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of
the Corporation; 
 provided, however, that a transaction or series of related transactions shall not constitute a Deemed
Liquidation Event if its sole purpose is to change the state of the Corporation’s incorporation or to create a holding company that will be owned in substantially the same proportions by the stockholders who held the Corporation’s
securities immediately prior to such transaction or series of related transactions. 
 (B) The Corporation shall not have
the power to effect a Deemed Liquidation Event referred to in Section IV.3(b)(iii)(A)(1)(1) unless the agreement or plan of merger or consolidation for such transaction (the “Merger Agreement”) provides that the consideration
payable to the stockholders of the Corporation shall be allocated among the holders of capital stock of the Corporation in accordance with Section IV.3(b)(i) and Section IV.3(b)(ii). 

(C) In the event of a Deemed Liquidation Event referred to in Section IV.3(b)(iii)(A)(1)(II) or Section
IV.3(b)(iii)(A)(2), if the Corporation does not effect a dissolution of the Corporation under the DGCL within ninety (90) days after such Deemed Liquidation Event, then (i) the Corporation shall send a written notice to each holder of
Convertible Preferred Stock no later than the ninetieth (90th) day after the Deemed Liquidation Event advising such holders of their right (and the requirements to be met to secure such right) pursuant to the terms of the following clause
(ii) to require the redemption of such shares of Convertible Preferred Stock; and (ii) if the holders of at least 75% of the then outstanding shares of Series A Preferred Stock and Series B Preferred Stock (with the shares of Series A
Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been converted into Series A Common Stock pursuant to Section IV.3(d) (whether or not such shares of Series B Preferred Stock are
then convertible)) so request in a written instrument delivered to the Corporation not later than one hundred twenty (120) days after such Deemed Liquidation Event, the Corporation shall use the consideration received by the Corporation for
such Deemed Liquidation Event (net of any retained liabilities associated with the assets sold or technology licensed, as determined in good faith by the Board of Directors), together with any other assets of the Corporation available for
distribution to its stockholders, all to the extent permitted by Delaware law governing distributions to stockholders (the “Available Proceeds”), on the one hundred fiftieth (150th) day after such Deemed Liquidation Event, to
redeem all outstanding shares of Convertible Preferred Stock at a price per share equal 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-7 

 
to Series A Preferred Liquidation Amount or the Series B Preferred Liquidation Amount, as applicable. Notwithstanding the foregoing, in the event of a redemption pursuant to the preceding
sentence, if the Available Proceeds are not sufficient to redeem all outstanding shares of Convertible Preferred Stock, the Corporation shall ratably redeem each holder’s shares of Convertible Preferred Stock to the fullest extent of such
Available Proceeds in conformity with the priorities set forth in Section IV.3(b)(i) and Section IV.3(b)(ii), and shall redeem the remaining shares as soon as it may lawfully do so under the DGCL governing distributions to
stockholders. Prior to the distribution or redemption provided for in this Section IV.3(b)(iii)(C), the Corporation shall not expend or dissipate the consideration received for such Deemed Liquidation Event, except to discharge expenses
incurred in connection with such Deemed Liquidation Event or in the ordinary course of business. 
 (D) If the amount deemed
paid or distributed under this Section IV.3(b)(iii) is made in property other than in cash, the value of such distribution shall be the fair market value of such property, determined as follows: 

(1) For securities not subject to investment letters or other similar restrictions on free marketability, 

(I) if traded on a securities exchange, the value shall be deemed to be the average of the closing prices of the securities on
such exchange or market over the thirty (30) day period ending three (3) days prior to the closing of such transaction; 

(II) if actively traded over-the-counter, the
value shall be deemed to be the average of the closing bid prices over the thirty (30) day period ending three (3) days prior to the closing of such transaction; or 

(III) if there is no active public market, the value shall be the fair market value thereof, as determined in good faith by
the Board of Directors of the Corporation. 
 (2) The method of valuation of securities subject to investment letters or
other similar restrictions on free marketability (other than restrictions arising solely by virtue of a stockholder’s status as an affiliate or former affiliate) shall take into account an appropriate discount (as determined in good faith by
the Board of Directors) from the market value as determined pursuant to clause (1) above so as to reflect the approximate fair market value thereof. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-8 

 (3) If holders of at least 75% of the then outstanding shares of Series A
Preferred Stock and Series B Preferred Stock (with the shares of Series A Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been converted into Series A Common Stock pursuant to Section
IV.3(d) (whether or not such shares of Series B Preferred Stock are then convertible)) object to the valuation determined by the Board of Directors, then the value shall be the fair market value as mutually determined by the Corporation and such
holders of Convertible Preferred Stock, and if the Corporation and such holders are unable to reach agreement, then the fair market value shall be established by an independent nationally recognized investment bank reasonably acceptable to both the
Corporation and such holders of Convertible Preferred Stock. 
 (E) In the event of a Deemed Liquidation Event pursuant to
Section IV.3(b)(iii)(A)(1)(I), if any portion of the consideration payable to the stockholders of the Corporation is payable only upon satisfaction of contingencies (the “Additional Consideration”), the
Merger Agreement shall provide that (a) the portion of such consideration that is not Additional Consideration (such portion, the “Initial Consideration”) shall be allocated among the holders of capital stock of the Corporation
in accordance with Section IV.3(b)(i) and Section IV.3(b)(ii) as if the Initial Consideration were the only consideration payable in connection with such Deemed Liquidation Event; and (b) any Additional Consideration which becomes
payable to the stockholders of the Corporation upon satisfaction of such contingencies shall be allocated among the holders of capital stock of the Corporation in accordance with Section IV.3(b)(i) and Section IV.3(b)(ii) after taking
into account the previous payment of the Initial Consideration as part of the same transaction. For the purposes of this Section IV.3(b)(iii)(E), consideration placed into escrow or retained as holdback to be available for
satisfaction of indemnification or similar obligations in connection with such Deemed Liquidation Event shall be deemed to be Additional Consideration. 

(c) Voting. On any matter presented to the stockholders of the Corporation for their action or consideration at any
meeting of stockholders of the Corporation (or by written consent of stockholders in lieu of meeting): 
 (i) Each holder of
outstanding shares of Series A Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of Series A Common Stock into which the shares of Series A Preferred Stock held by such holder are convertible as of the
record date for determining stockholders entitled to vote on such matter. Except as provided by law or by the other provisions of the Certificate of Incorporation, holders of Series A Preferred Stock shall vote together with the holders of those
shares of Series B Preferred Stock and Common Stock entitled to vote on a particular matter, as a single class. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-9 

 (ii) Notwithstanding anything to the contrary, until the expiration or early
termination of the waiting period pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the acquisition of Series B Preferred Stock by Energy Capital Partners III-C, LP
(“ECP III-C”) as contemplated by the Subscription Agreements (the “Series B Subscription Agreements”), dated as of November 9, 2017, by and between the Corporation, one
the one hand, and ECP III-C and the other holders of the Series B Preferred Stock, on the other hand (the “HSR Act Approval”), each holder of outstanding shares of Series B Preferred Stock
shall not be entitled to any voting rights. Upon obtaining HSR Act Approval, each holder of outstanding shares of Series B Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of Series A Common Stock
into which the shares of Series B Preferred Stock held by such holder are convertible as of the record date for determining stockholders entitled to vote on such matter (with the shares of Series B Preferred Stock voting on an “as converted
basis” as if such shares had been converted into Series A Common Stock pursuant to Section IV.3(d) (whether or not such shares of Series B Preferred Stock are then convertible)). Except as provided by law or by the other provisions of
the Certificate of Incorporation, holders of Series B Preferred Stock shall vote together with the holders of those shares of Series A Preferred Stock and Common Stock entitled to vote on a particular matter, as a single class. 

(d) Optional Conversion. The holders of the Convertible Preferred Stock shall have conversion rights as follows (the
“Conversion Rights”): 
 (i) Right to Convert. 

(A) Conversion Ratio. 

(1) Each share of Series A Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from
time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and non-assessable shares of Series A Common Stock as is determined by dividing the
Series A Preferred Original Issue Price by the Series A Preferred Conversion Price (as defined below) in effect at the time of conversion. The “Series A Preferred Conversion Price” shall initially be equal to $5.3246735. Such
initial Series A Preferred Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Series A Common Stock, shall be subject to adjustment as provided below. 

(2) Upon obtaining HSR Act Approval, each share of Series B Preferred Stock shall be convertible, at the option of the holder
thereof, at any time and from time to time, at or after the earlier of (i) November 9, 2018, and (ii) immediately prior to the consummation of a “Sale of the Company” (as defined in the Investors Agreement (as defined
below)), and without the payment 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-10 

 
of additional consideration by the holder thereof, into such number of fully paid and non-assessable shares of Series A Common Stock as is determined by
dividing the Series B Preferred Original Issue Price by the Series B Preferred Conversion Price (as defined below) in effect at the time of conversion. The “Series B Preferred Conversion Price” shall initially be equal to $3.73.
Such initial Series B Preferred Conversion Price, and the rate at which shares of Series B Preferred Stock may be converted into shares of Series A Common Stock, shall be subject to adjustment as provided below. 

(B) Termination of Conversion Rights. In the event of a liquidation, dissolution or winding up of the Corporation or a
Deemed Liquidation Event, the Conversion Rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of the applicable series of
Convertible Preferred Stock. 
 (ii) Fractional Shares. No fractional shares of Series A Common Stock shall be issued
upon conversion of the Convertible Preferred Stock. In lieu of any fractional shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the fair market value of a share of Series A
Common Stock as determined in good faith by the Board of Directors. Whether or not fractional shares would be issuable upon such conversion shall be determined on the basis of the total number of shares of Convertible Preferred Stock that the holder
is at the time converting into Series A Common Stock and the aggregate number of shares of Series A Common Stock issuable upon such conversion. 

(iii) Mechanics of Conversion. 

(A) Notice of Conversion. In order for a holder of Convertible Preferred Stock to voluntarily convert shares of
Convertible Preferred Stock into shares of Series A Common Stock, such holder shall (i) provide written notice to the Corporation’s transfer agent at the office of the transfer agent for the Convertible Preferred Stock (or at the principal
office of the Corporation if the Corporation serves as its own transfer agent) that such holder elects to convert all or any number of such holder’s shares of Convertible Preferred Stock and, if applicable, any event on which such conversion is
contingent and (ii) if such holder’s shares are certificated, surrender the certificate or certificates for such shares of Convertible Preferred Stock (or, if such registered holder alleges that such certificate has been lost, stolen or
destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such
certificate), at the office of the transfer agent for the Convertible Preferred Stock (or at the principal office of the Corporation if the Corporation serves as its own transfer agent). Such 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-11 

 
notice shall state such holder’s name or the names of the nominees in which such holder wishes the shares of Series A Common Stock to be issued. If required by the Corporation, any
certificates surrendered for conversion shall be endorsed or accompanied by a written instrument or instruments of transfer, in form reasonably satisfactory to the Corporation, duly executed by the registered holder or his, her or its attorney duly
authorized in writing. The close of business on the date of receipt by the transfer agent (or by the Corporation if the Corporation serves as its own transfer agent) of such notice and, if applicable, certificates (or lost certificate affidavit and
agreement) shall be the time of conversion (the “Conversion Time”), and the shares of Series A Common Stock issuable upon conversion of the specified shares shall be deemed to be outstanding of record as of such date. The
Corporation shall, as soon as practicable after the Conversion Time (i) issue and deliver to such holder of Convertible Preferred Stock, or to his, her or its nominees, a notice of issuance of uncertificated shares and may, upon written
request, issue and deliver a certificate for the number of full shares of Series A Common Stock issuable upon such conversion in accordance with the provisions hereof and, may, if applicable and upon written request, issue and deliver a certificate
for the number (if any) of the shares of Convertible Preferred Stock represented by any surrendered certificate that were not converted into Series A Common Stock, (ii) pay in cash such amount as provided in Section IV.3(d)(ii) in lieu
of any fraction of a share of Series A Common Stock otherwise issuable upon such conversion and (iii) pay all applicable declared but unpaid dividends on the shares of Convertible Preferred Stock converted. 

(B) Reservation of Shares. The Corporation shall, at all times when the Convertible Preferred Stock shall be
outstanding, reserve and keep available out of its authorized but unissued capital stock, for the purpose of effecting the conversion of the Convertible Preferred Stock, such number of its duly authorized shares of Series A Common Stock as shall
from time to time be sufficient to effect the conversion of all outstanding Convertible Preferred Stock; and if at any time the number of authorized but unissued shares of Series A Common Stock shall not be sufficient to effect the conversion of all
then outstanding shares of the Convertible Preferred Stock, the Corporation shall take such corporate action as may be necessary to increase its authorized but unissued shares of Series A Common Stock to such number of shares as shall be sufficient
for such purposes, including, without limitation, engaging in best efforts to obtain the requisite stockholder approval of any necessary amendment to the Certificate of Incorporation. Before taking any action which would cause an adjustment reducing
the Series A Preferred Conversion Price or the Series B Preferred Conversion Price, as applicable, below the then par value of the shares of Series A Common Stock issuable upon conversion of the Convertible Preferred Stock, the Corporation will take
any corporate action which may, in the opinion of its counsel, be necessary in order that the Corporation may validly and legally issue fully paid and non-assessable shares of Series A Common Stock at such
adjusted Series A Preferred Conversion Price or Series B Preferred Conversion Price, respectively. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-12 

 (C) Effect of Conversion. All shares of Convertible Preferred Stock
which shall have been surrendered for conversion as herein provided shall no longer be deemed to be outstanding and all rights with respect to such shares shall immediately cease and terminate at the Conversion Time, except only the right of the
holders thereof to receive shares of Series A Common Stock in exchange therefor, to receive payment in lieu of any fraction of a share otherwise issuable upon such conversion as provided Section IV.3(d)(ii) and to receive payment of any
dividends declared but unpaid thereon. Any shares of Convertible Preferred Stock so converted shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without
the need for stockholder action) as may be necessary to reduce the authorized number of shares of Convertible Preferred Stock accordingly. 

(D) No Further Adjustment. Upon any such conversion, no adjustment to the Series A Preferred Conversion Price shall be
made for any declared but unpaid dividends on the Series A Preferred Stock surrendered for conversion or the Series A Common Stock delivered upon conversion. 

(E) Taxes. The Corporation shall pay any and all issue and other similar taxes that may be payable in respect of any
issuance or delivery of shares of Series A Common Stock upon conversion of shares of Convertible Preferred Stock pursuant to this Section IV.3(d). The Corporation shall not, however, be required to pay any tax which may be payable in respect
of any transfer involved in the issuance and delivery of shares of Series A Common Stock in a name other than that in which the shares of Convertible Preferred Stock so converted were registered, and no such issuance or delivery shall be made unless
and until the person or entity requesting such issuance has paid to the Corporation the amount of any such tax or has established, to the reasonable satisfaction of the Corporation, that such tax has been paid. 

(iv) Adjustments to Conversion Price for Diluting Issues. 

(A) Special Definitions. For purposes of this ARTICLE TV, the following definitions shall apply: 

(1) “Options” shall mean rights, options or warrants to subscribe for, purchase or otherwise acquire Common
Stock or Convertible Securities. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-13 

 (2) “Series B Convertible Preferred Original Issue Date”
shall mean the date on which the first share of Series B Preferred Stock was issued. 
 (3) “Convertible
Securities” shall mean any evidences of indebtedness, shares or other securities directly or indirectly convertible into or exchangeable for Common Stock, but excluding Options. 

(4) “Additional Shares of Common Stock” shall mean all shares of Common Stock issued (or, pursuant to
Section IV.3(d)(iv)(C) below, deemed to be issued) by the Corporation after the Series B Convertible Preferred Original Issue Date, other than (x) the following shares of Common Stock and (y) shares of Common
Stock deemed issued pursuant to the following Options and Convertible Securities (clauses (x) and (y), collectively, “Exempt Securities”): 

(I) shares of Common Stock or Convertible Preferred Stock issued or issuable under the Purchase and Exchange Agreement, dated
as of March 16, 2016, by and among the Corporation and the initial holders of Convertible Preferred Stock party thereto (the “Purchase and Exchange Agreement”) or under the Series B Subscription Agreements (or any preemptive
rights with respect thereto); shares of Common Stock, Options or Convertible Securities issued by reason of a dividend, stock split, split-up or other distribution on shares of Common Stock that is covered by
Section IV.3(d)(v), (vi), (vii) or (viii); 
 (II) shares of Common Stock,
Options or Convertible Securities issued or issuable upon conversion of any of the Convertible Preferred Stock, or as a dividend or distribution on the Convertible Preferred Stock; 

(III) shares of Common Stock, Options or Convertible Securities issued or issuable upon the conversion of any Convertible
Security (but only to the extent that the original issuance of such Convertible Security was subject to adjustment pursuant to this Section IV.3(d)(iv)); 

(IV) shares of Common Stock, Options or Convertible Securities issued or issuable to employees or directors of, or consultants
or advisors to, the Corporation or any of its subsidiaries (including any shares of Common Stock, Options or Convertible Securities issued upon the conversion or exchange thereof) pursuant to any plan, agreement or arrangement approved by the Board
of Directors; 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-14 

 (V) shares of Common Stock, Options or Convertible Securities issued or
issuable pursuant to the acquisition of another entity by the Corporation by merger, purchase of substantially all of the assets or a business line, unit or division or other reorganization or pursuant to a joint venture agreement, provided that
such issuances are approved by the Board of Directors; or 
 (VI) shares of Common Stock, Options or Convertible Securities
issued or issuable in any firmly underwritten public offering of shares of Common Stock, Options or Convertible Securities of the Corporation pursuant to a registration statement under the Securities Act of 1933 (an “IPO”). 

(B) No Adjustment of Conversion Price. No adjustment in the Series A Preferred Conversion Price or the Series B
Preferred Conversion Price shall be made as the result of the issuance or deemed issuance of Additional Shares of Common Stock if the Corporation receives written notice from the holders of at least 75% of the then outstanding shares of Series A
Preferred Stock and Series B Preferred Stock (with the shares of Series A Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been converted into Series A Common Stock pursuant to Section
IV.3(d) (whether or not such shares of Series B Preferred Stock are then convertible)) agreeing that no such adjustment shall be made as the result of the issuance or deemed issuance of such Additional Shares of Common Stock. 

(C) Deemed Issue of Additional Shares of Common Stock. 

(1) If the Corporation at any time or from time to time after the Series B Convertible Preferred Original Issue Date shall
issue any Options or Convertible Securities (excluding Options or Convertible Securities which are themselves Exempt Securities) or shall fix a record date for the determination of holders of any class of securities entitled to receive any such
Options or Convertible Securities, then the maximum number of shares of Common Stock (as set forth in the instrument relating thereto, assuming the satisfaction of any conditions to exercisability, convertibility or exchangeability but without
regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or, in the case of Convertible Securities and Options therefor, the conversion or exchange of such Convertible
Securities, shall be deemed to be Additional Shares of Common Stock issued as of the time of such issue or, in case such a record date shall have been fixed, as of the close of business on such record date. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-15 

 (2) If the terms of any Option or Convertible Security, the issuance of
which resulted in an adjustment to the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) pursuant to the terms of
Section IV.3(d)(iv)(D), are revised as a result of an amendment to such terms or any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms
pursuant to anti-dilution or similar provisions of such Option or Convertible Security) to provide for either (1) any increase or decrease in the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any
such Option or Convertible Security or (2) any increase or decrease in the consideration payable to the Corporation upon such exercise, conversion and/or exchange, then, effective upon such increase or decrease becoming effective, the Series A
Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) computed upon the original issue of such Option or Convertible Security (or upon the
occurrence of a record date with respect thereto) shall be readjusted to such Series A Preferred Conversion Price or the Series B Preferred Conversion Price, as applicable, as would have obtained had such revised terms been in effect upon the
original date of issuance of such Option or Convertible Security. Notwithstanding the foregoing, no readjustment pursuant to this clause (2) shall have the effect of increasing the Series A Preferred Conversion Price or the Series B Preferred
Conversion Price to an amount which exceeds the lower of (i) the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in
effect immediately prior to the original adjustment made as a result of the issuance of such Option or Convertible Security, or (ii) the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred
Conversion Price (in the case of the Series B Preferred Stock) that would have resulted from any issuances of Additional Shares of Common Stock (other than deemed issuances of Additional Shares of Common Stock as a result of the issuance of such
Option or Convertible Security) between the original adjustment date and such readjustment date. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-16 

 (3) If the terms of any Option or Convertible Security (excluding Options
or Convertible Securities which are themselves Exempt Securities), the issuance of which did not result in an adjustment to the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion
Price (in the case of the Series B Preferred Stock) pursuant to the terms of Section IV.3(d)(iv)(D) (either because the consideration per share (determined pursuant to Section IV.3(d)(iv)(E)) of the Additional Shares
of Common Stock subject thereto was equal to or greater than the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) then in
effect, or because such Option or Convertible Security was issued before the Series B Convertible Preferred Original Issue Date), are revised after the Series B Convertible Preferred Original Issue Date as a result of an amendment to such terms or
any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms pursuant to anti-dilution or similar provisions of such Option or Convertible Security) to provide for either
(1) any increase in the number of shares of Common Stock issuable upon the exercise, conversion or exchange of any such Option or Convertible Security or (2) any decrease in the consideration payable to the Corporation upon such exercise,
conversion or exchange, then such Option or Convertible Security, as so amended or adjusted, and the Additional Shares of Common Stock subject thereto (determined in the manner provided in Section IV.3(d)(iv)(C)(1) shall be
deemed to have been issued effective upon such increase or decrease becoming effective. 
 (4) Upon the expiration or
termination of any unexercised Option or unconverted or unexchanged Convertible Security (or portion thereof) which resulted (either upon its original issuance or upon a revision of its terms) in an adjustment to the Series A Preferred Conversion
Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) pursuant to the terms of Section IV.3(d)(iv)(D), the Series A Preferred Conversion
Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) shall be readjusted to such Series A Preferred Conversion Price (in the case of the Series A Preferred
Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) as would have obtained had such Option or Convertible Security (or portion thereof) never been issued. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-17 

 (5) If the number of shares of Common Stock issuable upon the exercise,
conversion and/or exchange of any Option or Convertible Security, or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, is calculable at the time such Option or Convertible Security is issued or amended but
is subject to adjustment based upon subsequent events, any adjustment to the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock)
provided for in this Section IV.3(d)(iv)(C) shall be effected at the time of such issuance or amendment based on such number of shares or amount of consideration without regard to any provisions for subsequent adjustments (and any subsequent
adjustments shall be treated as provided in clauses (2) and (3) of this Section IV.3(d)(iv)(C)). If the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any Option or
Convertible Security, or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, cannot be calculated at all at the time such Option or Convertible Security is issued or amended, any adjustment to the Series A
Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) that would result under the terms of this Section IV.3(d)(iv)(C)) at the time of
such issuance or amendment shall instead be effected at the time such number of shares and/or amount of consideration is first calculable (even if subject to subsequent adjustments), assuming for purposes of calculating such adjustment to the Series
A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) that such issuance or amendment took place at the time such calculation can first be
made. 
 (D) Adjustment of Conversion Price Upon Issuance of Additional Shares of Common Stock. In the event the
Corporation shall at any time after the Series B Convertible Preferred Original Issue Date issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued pursuant to
Section IV.3(d)(iv)(C)), without consideration or for a consideration per share less than the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in
the case of the Series B Preferred Stock) in effect immediately prior to such issue, then the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B
Preferred Stock) shall be reduced, concurrently with such issue, to a price (calculated to the nearest one-hundredth of a cent) determined in accordance with the following formula: 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-18 

 CP2 = CP1* (A + B) ÷ (A + C). 
 For purposes of the foregoing formula, the following
definitions shall apply: 
 (1) “CP2” shall mean the
Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately after such issue of Additional Shares of Common Stock;

 (2) “CP1” shall mean the Series A Preferred Conversion
Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately prior to such issue of Additional Shares of Common Stock; 

(3) “A” shall mean the number of shares of Common Stock outstanding immediately prior to such issue of Additional
Shares of Common Stock (treating for this purpose as outstanding all shares of Common Stock issuable upon exercise of Options outstanding immediately prior to such issue or upon conversion or exchange of Convertible Securities (including the
Convertible Preferred Stock) outstanding (assuming exercise of any outstanding Options therefor) immediately prior to such issue); 

(4) “B” shall mean the number of shares of Common Stock that would have been issued if such Additional Shares of
Common Stock had been issued at a price per share equal to CPI (determined by dividing the aggregate consideration received by the Corporation in respect of such issue by CPO; and 

(5) “C” shall mean the number of such Additional Shares of Common Stock issued in such transaction. 

(E) Determination of Consideration. For purposes of this Section IV.3(d)(iv), the consideration received by the
Corporation for the issue of any Additional Shares of Common Stock shall be computed as follows: 
 (1) Cash and
Property: Such consideration shall: 
 (I) insofar as it consists of cash, be computed at the aggregate amount of cash
received by the Corporation, excluding amounts paid or payable for accrued interest; 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-19 

 (II) insofar as it consists of property other than cash, be computed at the
fair market value thereof at the time of such issue, as determined in good faith by the Board of Directors; and 
 (III) in
the event Additional Shares of Common Stock are issued together with other shares or securities or other assets of the Corporation for consideration which covers both, be the proportion of such consideration so received, computed as provided in
clauses (I) and (II) above, as determined in good faith by the Board of Directors. 
 (2) Options and Convertible
Securities. The consideration per share received by the Corporation for Additional Shares of Common Stock deemed to have been issued pursuant to Section IV.3(d)(iv)(C), relating to Options and Convertible Securities, shall be determined
by dividing: 
 (I) The total amount, if any, received or receivable by the Corporation as consideration for the issuance of
such Options or Convertible Securities, plus the minimum aggregate amount of additional consideration (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such
consideration) payable to the Corporation upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the exercise of such Options for Convertible Securities
and the conversion or exchange of such Convertible Securities, by 
 (II) the maximum number of shares of Common Stock (as
set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or
in the case of Options for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or exchange of such Convertible Securities. 

(F) Multiple Closing Dates. In the event the Corporation shall issue on more than one date Additional Shares of Common
Stock that are a part of one transaction or a series of related transactions and that would result in an adjustment to the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price
(in the case of the Series B Preferred Stock) pursuant to the terms of 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-20 

 
Section IV.3(d)(iv)(D), and such issuance dates occur within a period of no more than 90 days from the first such issuance to the final such issuance, then, upon the final such issuance,
the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) shall be readjusted to give effect to all such issuances as if they
occurred on the date of the first such issuance (and without giving effect to any additional adjustments as a result of any such subsequent issuances within such period). 

(v) Adjustment for Stock Splits and Combinations. If the Corporation shall at any time or from time to time after the
Series B Convertible Preferred Original Issue Date effect a subdivision of the outstanding Common Stock, the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of
the Series B Preferred Stock) in effect immediately before that subdivision shall be proportionately decreased so that the number of shares of Common Stock issuable on conversion of each share of such series shall be increased in proportion to such
increase in the aggregate number of shares of Common Stock outstanding. If the Corporation shall at any time or from time to time after the Series B Convertible Preferred Original Issue Date combine the outstanding shares of Common Stock, the Series
A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately before the combination shall be proportionately increased so
that the number of shares of Common Stock issuable on conversion of each share of such series shall be decreased in proportion to such decrease in the aggregate number of shares of Common Stock outstanding. Any adjustment under this subsection shall
become effective at the close of business on the date the subdivision or combination becomes effective. 
 (vi) Adjustment
for Certain Dividends and Distributions. In the event the Corporation at any time or from time to time after the Series B Convertible Preferred Original Issue Date shall make or issue, or fix a record date for the determination of holders of
Common Stock entitled to receive, a dividend or other distribution payable on the Common Stock in additional shares of Common Stock, then and in each such event the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or
the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the
close of business on such record date, by multiplying the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) then in effect by a
fraction: 
 (A) the numerator of which shall be the total number of shares of Common Stock issued and outstanding
immediately prior to the time of such issuance or the close of business on such record date, and 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-21 

 (B) the denominator of which shall be the total number of shares of Common
Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution. 

Notwithstanding the foregoing (a) if such record date shall have been fixed and such dividend is not fully paid or if such distribution is
not fully made on the date fixed therefor, the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) shall be recomputed accordingly
as of the close of business on such record date and thereafter the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) shall be
adjusted pursuant to this subsection as of the time of actual payment of such dividends or distributions; and (b) no such adjustment shall be made if the holders of Convertible Preferred Stock simultaneously receive a dividend or other
distribution of shares of Series A Common Stock in a number equal to the number of shares of Series A Common Stock as they would have received if all outstanding shares of Convertible Preferred Stock had been converted into Series A Common Stock on
the date of such event. 
 (vii) Adjustments for Other Dividends and Distributions. In the event the Corporation at
any time or from time to time after the Series B Convertible Preferred Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in
securities of the Corporation (other than a distribution of shares of Common Stock in respect of outstanding shares of Common Stock) or in other property and the provisions of Section IV.3(a) do not apply to such dividend or distribution,
then and in each such event the holders of Convertible Preferred Stock shall receive, simultaneously with the distribution to the holders of Common Stock a dividend or other distribution of such securities or other property in an amount equal to the
amount of such securities or other property as they would have received if all outstanding shares of Convertible Preferred Stock had been converted into Series A Common Stock on the date of such event. 

(viii) Adjustment for Merger or Reorganization, etc. If there shall occur any reorganization, recapitalization,
reclassification, consolidation or merger involving the Corporation in which the Common Stock (but not the Convertible Preferred Stock) is converted into or exchanged for securities, cash or other property (other than a transaction covered by
Section IV.3(d)(iv), (vi) or (vii)), then, following any such reorganization, recapitalization, reclassification, consolidation or merger, each share of Convertible Preferred Stock shall thereafter be convertible in lieu of the Series
A Common Stock into which it was convertible prior to such event into the kind and amount of securities, cash or other property which a holder of the number of shares of Series A Common Stock of the Corporation issuable upon conversion of one share
of Convertible Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, consolidation or merger 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-22 

 
would have been entitled to receive pursuant to such transaction; and, in such case, appropriate adjustment (as determined in good faith by the Board of Directors) shall be made in the
application of the provisions in this Section IV.3(d) with respect to the rights and interests thereafter of the holders of the Convertible Preferred Stock, to the end that the provisions set forth in this Section IV.3(d) (including
provisions with respect to changes in and other adjustments of the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock)) shall
thereafter be applicable, as nearly as reasonably may be, in relation to any securities or other property thereafter deliverable upon the conversion of the Convertible Preferred Stock. For the avoidance of doubt, nothing in this Section
IV.3(d)(viii) shall be construed as preventing the holders of Convertible Preferred Stock from seeking any appraisal rights to which they are otherwise entitled under the DGCL in connection with a merger triggering an adjustment hereunder, nor
shall this Section IV.3(d)(viii) be deemed conclusive evidence of the fair value of the shares of Convertible Preferred Stock in any such appraisal proceeding. 

(ix) Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Series A
Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) pursuant to this Section IV.3(d), the Corporation at its expense shall, as
promptly as reasonably practicable but in any event not later than 10 days thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of Convertible Preferred Stock a certificate setting forth
such adjustment or readjustment (including the kind and amount of securities, cash or other property into which the Convertible Preferred Stock is convertible) and showing in detail the facts upon which such adjustment or readjustment is based. The
Corporation shall, as promptly as reasonably practicable after the written request at any time of any holder of Convertible Preferred Stock (but in any event not later than 10 days thereafter), furnish or cause to be furnished to such holder a
certificate setting forth (i) the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) then in effect, and (ii) the
number of shares of Series A Common Stock and the amount, if any, of other securities, cash or property which then would be received upon the conversion of Convertible Preferred Stock. 

(x) Notice of Record Date. In the event: 

(A) the Corporation shall take a record of the holders of its Common Stock (or other capital stock or securities at the time
issuable upon conversion of the Convertible Preferred Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of capital stock of any class
or any other securities, or to receive any other security; or 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-23 

 (B) of any capital reorganization of the Corporation, any reclassification
of the Common Stock of the Corporation, or any Deemed Liquidation Event; or 
 (C) of the voluntary or involuntary
dissolution, liquidation or winding-up of the Corporation, 
 then, and in each such case, the
Corporation will send or cause to be sent to the holders of the Convertible Preferred Stock a notice specifying, as the case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend,
distribution or right, or (ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up is proposed to take place, and the
time, if any is to be fixed, as of which the holders of record of Common Stock (or such other capital stock or securities at the time issuable upon the conversion of the Convertible Preferred Stock) shall be entitled to exchange their shares of
Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or
winding-up, and the amount per share and character of such exchange applicable to the Convertible Preferred Stock and the Common Stock. Such notice shall be sent at least 10 days prior to the record date or
effective date for the event specified in such notice. 
 (e) Mandatory Conversion. 

(i) Trigger Events. Upon either (x) the closing of the sale of shares of Common Stock to the public at a price of
at least 1.25 times the Series A Preferred Original Issue Price (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Common Stock) with aggregate gross
proceeds, net of the underwriting discount and commissions, to the Corporation of not less than $100 million, in a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as
amended, or (y) the date and time, or the occurrence of an event, specified by vote or written consent of the holders of at least 75% of the then outstanding shares of Series A Preferred Stock and Series B Preferred Stock (with the shares of
Series A Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been converted into Series A Common Stock pursuant to Section 1V.3(d) (whether or not such shares of Series B Preferred
Stock are then convertible)) (the time of such closing, or the date and time specified or the time of the event specified in such vote or written consent is referred to herein as the “Mandatory Conversion Time”), then (A) upon
an event specified in clause (x) or (y) above, all outstanding shares of Series A Preferred Stock and Series B Preferred Stock shall automatically be converted into shares of Series A Common Stock, in each case at the then effective conversion
rate as calculated pursuant to Section IV.3(d)(i)(A) and (B) such shares of Series A Preferred Stock and Series B Preferred Stock converted pursuant to this Section IV.3(e)(i) may not be reissued by the Corporation. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-24 

 (ii) Procedural Requirements. All holders of record of shares of
Series A Preferred Stock and Series B Preferred Stock shall be sent written notice of the Mandatory Conversion Time and the place designated for mandatory conversion of all such shares of Series A Preferred Stock and Series B Preferred Stock
pursuant to this Section 1V.3(e). Such notice need not be sent in advance of the occurrence of the Mandatory Conversion Time. Upon receipt of such notice, each holder of shares of Series A Preferred Stock and Series B
Preferred Stock in certificated form shall surrender his, her or its certificate or certificates for all such shares (or, if such holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement
reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate) to the Corporation at the place designated in
such notice. If so required by the Corporation, any certificates surrendered for conversion shall be endorsed or accompanied by written instrument or instruments of transfer, in form reasonably satisfactory to the Corporation, duly executed by the
registered holder or by his, her or its attorney duly authorized in writing. All rights with respect to the Series A Preferred Stock and Series B Preferred Stock converted pursuant to Section IV.3(e)(i), including the
rights, if any, to receive notices and vote (other than as a holder of Series A Common Stock), will terminate at the Mandatory Conversion Time (notwithstanding the failure of the holder or holders thereof to surrender any certificates at or prior to
such time), except only the rights of the holders thereof, upon surrender of any certificate or certificates of such holders (or lost certificate affidavit and agreement) therefor, to receive the items provided for in the next sentence of this
Section IV.3(e)(ii). As soon as practicable after the Mandatory Conversion Time and, if applicable, the surrender of any certificate or certificates (or lost certificate affidavit and agreement) for Series A Preferred Stock and Series B
Preferred Stock, the Corporation shall (a) issue and deliver to such holder, or to his, her or its nominees, a notice of issuance of uncertificated shares and may, upon written request, issue and deliver a certificate for the number of full
shares of Common Stock issuable upon such conversion in accordance with the provisions hereof and (b) pay cash as provided in Section IV.3(d)(ii) in lieu of any fraction of a share of Series A Common Stock and Series B Preferred Stock
otherwise issuable upon such conversion and the payment of any declared but unpaid dividends on the shares of Series A Preferred Stock and Series B Preferred Stock converted. Such converted Series A Preferred Stock and Series B Preferred Stock shall
be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of
Series A Preferred Stock and Series B Preferred Stock accordingly. 
 (f) Redemption. 

(i) General. At any time after the ninety-first (91st) day after
the earlier of the maturity date of the Senior Notes (as defined below) (but only if all obligations under the Senior Notes have been repaid in full on such date) or the date the Senior Notes are no longer outstanding, and unless prohibited by
Delaware law 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-25 

 
governing distributions to stockholders, shares of Series B Preferred Stock may be redeemed by the Corporation, in its sole and absolute discretion, at a price equal to the Series B Preferred
Original Issue Price per share (the “Redemption Price”), and the date of such redemption shall be referred to as the “Redemption Date.” If on the Redemption Date Delaware law governing distributions to stockholders
prevents the Corporation from redeeming all shares of Series B Preferred Stock to be redeemed, the Corporation shall ratably redeem the maximum number of shares that it may redeem consistent with such law, and shall redeem the remaining shares as
soon as it may lawfully do so under such law. “Senior Notes” shall mean such notes set forth in the Indenture dated as of April 24, 2017, by and between the Corporation and Wilmington Trust, National Association, as Trustee and
Collateral Trustee. 
 (ii) Redemption Notice. The Corporation shall send written notice of the redemption (the
“Redemption Notice”) to each holder of record of Series B Preferred Stock not less than five (5) days prior to the Redemption Date. The Redemption Notice shall state: 

(A) the number of shares of Series B Preferred Stock held by the holder that the Corporation shall redeem on the Redemption
Date specified in the Redemption Notice; 
 (B) the Redemption Date and the Redemption Price; 

(C) the date upon which the holder’s right to convert such shares terminates (as determined in accordance with Section
IV.3(f)(iii)); and 
 (D) for holders of shares in certificated form, that the holder is to surrender to the
Corporation, in the manner and at the place designated, his, her or its certificate or certificates representing the shares of Series B Preferred Stock to be redeemed. 

(iii) Termination of Conversion Rights. In the event of a notice of redemption of any shares of Series B Preferred Stock
pursuant to Section IV.3(f)(ii), the Conversion Rights of the shares of Series B Preferred Stock designated for redemption shall terminate at the close of business on the last full day preceding the Redemption Date, unless
the Redemption Price is not fully paid on such Redemption Date, in which case the Conversion Rights for such shares of Series B Preferred Stock shall continue until such price is paid in full. 

(iv) Surrender of Certificates; Payment. On or before the Redemption Date, each holder of shares of Series B Preferred
Stock to be redeemed on the Redemption Date, unless such holder has exercised his, her or its right to convert such shares as provided in Section IV.3(d), shall, if a holder of shares in certificated form, surrender the certificate or
certificates representing such shares (or, if such registered holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-26 

 
indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate) to the Corporation, in the manner
and at the place designated in the Redemption Notice, and thereupon the Redemption Price for such shares shall be payable to the order of the person whose name appears on such certificate or certificates as the owner thereof. In the event less than
all of the shares of Series B Preferred Stock represented by a certificate are redeemed, a new certificate, instrument, or book entry representing the unredeemed shares of Series B Preferred Stock shall promptly be issued to such holder. 

(v) Rights Subsequent to Redemption. If the Redemption Notice shall have been duly given, and if on the Redemption Date
the Redemption Price payable upon redemption of the shares of Series B Preferred Stock to be redeemed on the Redemption Date is paid or tendered for payment or deposited with an independent payment agent so as to be available therefor in a timely
manner, then notwithstanding that any certificates evidencing any of the shares of Series B Preferred Stock so called for redemption shall not have been surrendered, dividends with respect to such shares of Series B Preferred Stock shall cease to
accrue after the Redemption Date and all rights with respect to such shares shall forthwith after the Redemption Date terminate, except only the right of the holders to receive the Redemption Price without interest upon surrender of any such
certificate or certificates therefor. 
 (g) Redeemed or Otherwise Acquired Shares. Any shares of Series B Preferred
Stock that are redeemed or otherwise acquired by the Corporation or any of its subsidiaries shall be automatically and immediately cancelled and retired and shall not be reissued, sold or transferred. Neither the Corporation nor any of its
subsidiaries may exercise any voting or other rights granted to the holders of Series B Preferred Stock following redemption. 

(h) Series B Preferred Stock Protective Provisions. At any time when at least fifty (50) percent of the shares of
Series B Preferred Stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series B Preferred Stock) originally issued pursuant to the Series B
Subscription Agreement are outstanding, the Corporation shall not, either directly or indirectly, without (in addition to any other vote required by law or the Certificate of Incorporation) the written consent or affirmative vote of the holders of
at least fifty (50) percent of the then outstanding shares of Series B Preferred Stock, given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class, and any such act or transaction entered into
without such consent or vote shall be null and void ab initio, and of no force or effect: 
 (i) purchase, redeem or exchange
or retire for value (or permit any subsidiary to purchase, redeem, exchange or retire for value) any shares of capital stock of the Corporation; or 

(ii) pay or declare any dividend or make any distribution or payment on any shares of capital stock of the Corporation; 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-27 

 other than, in the case of clauses (i) and (ii), (x) redemptions of or dividends or
distributions on the Series B Preferred Stock or (y) conversion of the Convertible Preferred Stock, in each case as expressly authorized herein. 

ARTICLE V 
 ADDITIONAL
POWERS OF THE CORPORATION 
 Section V.1 In furtherance of and not in limitation of powers conferred by statute, it is further provided
that: 
 (a) subject to the limitations and exceptions, if any, contained in the
By-laws of the Corporation (the “By-laws”), the By-laws may be adopted, amended or repealed by the Board of
Directors; 
 (b) elections of directors need not be by written ballot; and 

(c) subject to any applicable requirements of law, the books of the Corporation may be kept outside the State of Delaware at
such location as may be designated by the Board of Directors or in the By-laws. 
 ARTICLE VI

 EXISTENCE 

Section VI.1 The Corporation is to have perpetual existence. 

ARTICLE VII 

INDEMNIFICATION 
 Section
VII.1 The Corporation shall indemnify and hold harmless, to the fullest extent not prohibited by the DGCL, each person (a “Covered Person”) who is or was made or is threatened to be made a party or is otherwise involved in any
action, suit or proceeding (each, a “proceeding”) by reason of the fact that he or she, or a person for whom he or she is the legal representative, is or was an executive officer or director of the Corporation, against all
liability, claims, damages, costs and losses suffered and expenses (including attorneys’ fees) reasonably incurred by such Covered Person. The Corporation may, in its sole and absolute discretion, indemnify such other persons as it may deem
desirable or necessary, to the fullest extent not prohibited by the DGCL. For purposes of this ARTICLE VII, each of the Chief Executive Officer, the President, the Chief Financial Officer, the Senior Vice Presidents, the Treasurer and the Secretary
of the Corporation shall be deemed to be an executive officer. 
 Section VII.2 The Corporation shall, to the fullest extent not prohibited
by the DGCL, pay the expenses, including attorneys’ fees, incurred by a Covered Person in defending any proceeding in advance of final disposition; provided, however, that to the extent required by the DGCL, such payment of
expenses in advance of the final disposition of the proceeding shall be made only upon receipt of an undertaking by the Covered Person to repay all amounts so advanced if it should ultimately be determined that the Covered Person is not entitled to
be indemnified under this ARTICLE VII or otherwise. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-28 

 Section VII.3 The rights conferred on any Covered Person pursuant to this ARTICLE VII shall
not be deemed exclusive of any other rights such Covered Person may have or hereafter be entitled under any statute, this Certificate of Incorporation, the By-laws, any agreement, any vote of stockholders or
disinterested directors or otherwise. 
 Section VII.4 The rights conferred on any Covered Person pursuant to this ARTICLE VII shall
continue as to a person who has ceased to be a Covered Person (or other person indemnified hereunder) and shall inure to the benefit of the heirs, executors, administrators, legatees and distributees of such person. 

Section VII.5 The Corporation shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer,
employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, against
any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person’s status as such, whether or not the Corporation would have the power to indemnify such person against such liability
under the provisions of this ARTICLE VII, the By-laws, the DGCL, or any other applicable law. 

Section VII.6 The provisions of this ARTICLE VII shall be a contract between the Corporation, on the one hand, and each Covered Person and any
other person entitled to indemnification hereunder, on the other hand, pursuant to which the Corporation and each such Covered Person or other person intend to be, and shall be, legally bound. No amendment, repeal or modification of this ARTICLE VII
shall affect any rights or obligations with respect to any state of facts then or theretofore existing or any proceeding theretofore or thereafter brought or threatened based in whole or in part upon any such state of facts. 

Section VII.7 If a claim for indemnification (following the final disposition of such action, suit or proceeding) or advancement of expenses
under this ARTICLE VII is not paid in full within thirty (30) days after a written claim therefor by the Covered Person has been received by the Corporation, the Covered Person may file suit to recover the unpaid amount of such claim and, if
successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim. In any such action, the Corporation shall have the burden of proving that the Covered Person is not entitled to the requested indemnification or
advancement of expenses under applicable law. 
 Section VII.8 The Corporation hereby acknowledges that the Investors (as defined in the
Second Amended & Restated Investors Agreement, dated as of November 9, 2017, by and among the Corporation and the stockholders of the Corporation party thereto (as amended from time to time, the “Investors
Agreement”)), the ECP Directors and the Non-ECP Directors (each as defined in the Investors Agreement) and their respective heirs or representatives (each, an “Indemnitee”) may have
certain rights to indemnification, advancement of expenses and/or insurance provided by or on behalf of the Investors or their affiliates (collectively, the “Indemnitors”) and that, notwithstanding anything to the contrary contained
herein (including as set forth in this ARTICLE VII): (i) the Corporation is the indemnitor of first resort and the Indemnitors are the indemnitors of last resort in connection with any claims for indemnification from the Indemnitees,
(ii) the Corporation will be required to advance the full amount of expenses incurred by each Indemnitee and will be liable for the full amount of all losses, judgments, penalties, fines and 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-29 

 
amounts paid in settlement to the extent legally permitted and as required by this ARTICLE VII without regard to any rights each Indemnitee may have against any particular Indemnitor, and
(iii) the Corporation irrevocably waives, relinquishes and releases the Indemnitors from any and all claims against the Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. Notwithstanding anything to
the contrary herein, no advancement or payment by any Indemnitor on behalf of an Indemnitee with respect to any claim for which such Indemnitee has sought indemnification or advancement of expenses from the Corporation will affect the foregoing and
such Indemnitor will have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Indemnitee against the Corporation. The Indemnitees and Indemnitors are express third party
beneficiaries of the terms of this Section VII.8. 
 ARTICLE VIII 

LIMITATIONS ON LIABILITY 

Section VIII.1 No member of the Board of Directors shall be personally liable to the Corporation or its stockholders for monetary damages for
breach of fiduciary duty as a director, except, if required by the DGCL, for liability: (i) for any breach of the director’s duty of loyalty to the Corporation or its stockholders; (ii) for acts or omissions not in good faith or which
involve intentional misconduct or a knowing violation of law; (iii) under Section 174 of the DGCL; or (iv) for any transaction from which the director derived an improper personal benefit. If the DGCL or any other law of the State of
Delaware is amended after approval by the stockholders of this ARTICLE VIII to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation shall be eliminated or
limited to the fullest extent permitted by the DGCL as so amended. 
 Section VIII.2 Neither the amendment nor repeal of this ARTICLE VIII
shall eliminate or reduce the effect of this ARTICLE VIII in respect of any matter occurring, or any cause of action, suit or claim that, but for this ARTICLE VIII would accrue or arise, prior to such amendment or repeal. 

ARTICLE IX 
 CORPORATE
OPPORTUNITIES 
 Section IX.1 The Corporation renounces, to the fullest extent permitted by law, any interest or expectancy of the
Corporation in, or in being offered an opportunity to participate in, any Excluded Opportunity. An “Excluded Opportunity” is any matter, transaction or interest that is presented to, or acquired, created or developed by, or which
otherwise comes into the possession of (i) any director of the Corporation who is not an employee of the Corporation or any of its subsidiaries, or (ii) any holder of Convertible Preferred Stock or any of its affiliates or any of their
respective partners, members, managers, directors, equityholders, employees or agents, other than someone who is an employee of the Corporation or any of its subsidiaries (collectively, “Covered Persons”), unless such matter,
transaction or interest is presented to, or acquired, created or developed by, or otherwise comes into the possession of, a Covered Person expressly and solely in such Covered Person’s capacity as a director of the Corporation. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-30 

 ARTICLE X 

AMENDMENT 
 Section X.1 The
Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by statute, and this Certificate of Incorporation and all rights conferred upon
stockholders herein are granted subject to this reservation. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-31 

 Exhibit A-2 

Unanimous Written Consent 

[Attached] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Unanimous Written Consent 

In Lieu of a Meeting of the Board of Directors of 

SUNNOVA ENERGY CORPORATION 

November 9, 2017 
 The
undersigned, being all of the members of the Board of Directors (the “Board”) of Sunnova Energy Corporation, a Delaware corporation (the “Company”), do hereby, pursuant to Section 141(f) of the
General Corporation Law of the State of Delaware, waive notice of a meeting and do hereby consent to, affirm, ratify and adopt the actions and resolutions of the Company as set forth in Exhibit A, attached hereto, in lieu of a special meeting
of the Board, such resolutions to have the same force and effect as if duly adopted at a meeting of the Board which was duly called and held. 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 IN WITNESS WHEREOF, the undersigned directors have executed this content as of the date set
forth above. 
  

	
	 /s/ William J. Berger

	William J. Berger
	
	 /s/ Michael C. Morgan

	Michael C. Morgan
	
	 /s/ C. Park Shaper

	C. Park Shaper
	
	 /s/ Doug Kimmelman

	Doug Kimmelman
	
	 /s/ Rahman D’Argenio

	Rahman D’Argenio
	
	 /s/ Rahul Advani

	Rahul Advani
	
	 /s/ Matthew DeNichilo

	Matthew DeNichilo

 (Signature Page to the SEC UWC – Series B Preferred Stock) 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Unanimous Written Consent 

In Lieu of a Meeting of the Board of Directors of 

SUNNOVA ENERGY CORPORATION 

November 9, 2017 

WHEREAS, the Board of Directors (the “Board”) of Sunnova Energy Corporation, a Delaware corporation (the
“Company”), have reviewed a draft of the Form of Subscription Agreement, pursuant to which the Company proposes to issue up to an aggregate 10,724,000 shares of a newly created series of Series B Convertible Preferred Stock,
par value $0.01 per share, of the Company (the “Series B Convertible Preferred Stock”), in one or more issuances, at a price of $3.73 per share, to certain of its existing stockholders, a draft of which ash been provided to
the Board (each, together with all schedules, exhibits and agreements thereto and contemplated therein, a “Subscription Agreement” and together the “Subscription Agreements”) in an offering exempt from
the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”); 
 WHEREAS,
the Board deems the Subscription Agreements and the transactions contemplated thereby to be advisable and in the Company’s best interests; and 

WHEREAS, in connection with the transactions contemplated by the Subscription Agreements, the Board deems it advisable and in the
Company’s best interests to authorize and empower the officers of the Company (the “Company Authorized Officers”), for and on behalf of the Company, to take, or cause to be taken, any and all actions and to enter into,
and execute deliver any agreements, instruments and other documents as may be necessary, appropriate or advisable to effectuate and carry out the following resolutions and the transactions contemplated herein 

Amendment and Restatement of the Company’s Certificate of Incorporation 

WHEREAS, in connection with the Subscription Agreements and to provide for the issuance of the Series B Convertible Preferred Stock
pursuant to the Subscription Agreements and any additional securities issuable upon conversion thereof, the Stockholders have been presented with a draft of the Fifth Amended and Restated Certificate of Incorporation of the Corporation in
substantially the form presented to the Board and set forth in Annex A (the “Restated Certificate”) which Restated Certificate will amend and restate the Corporation’s Certificate of Incorporation as currently in
effect (the “Existing Certificate”) to, among other things,(i) rename the existing class of Convertible Preferred Stock to be the “Series A Convertible Preferred Stock” (the “Series A Convertible
Preferred Stock”), (ii) create and authorize a new series of preferred stock of the Company designated as the “Series B Convertible Preferred Stock,” par value $0.01 per share, of the Company with the rights, preferences and
limitations as set forth in the Restated Certificate, (iii) establish 11,000,000 authorized of shares of Series B Convertible Preferred Stock, (iv) increase the authorized shares of Common Stock from 170,000,000 to 180,000,000 and
(v) increase the authorized shares of Series A Common Stock from 150,000,000 to 160,000,000; 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 WHEREAS, the Corporation’s adoption of the Restated Certificate is a condition
to the Closing (as defined in the Subscription Agreement); and 
 WHEREAS, the Board has declared the advisability of the Restated
Certificate and determined it is in the best interests of the Corporation and its stockholders to amend and restate the Existing Certificate in the form of the Restated Certificate; 

NOW, THEREFORE, BE IT RESOLVED, that the Board hereby authorizes, approves, adopts and ratifies in all respects the Restated
Certificate; and further 
 RESOLVED, that the Existing Certificate be amended and restated to read as set forth in the Restated
Certificate to, among other things, (i) rename the existing class of Convertible Preferred Stock to be the “Series A Convertible Preferred Stock”, (ii) create and authorize a new series of preferred stock of the Company designated as
the “Series B Convertible Preferred Stock,” par value $0.01 per share, of the Company with the rights, preferences and limitations as set forth in the Restated Certificate, (iii) establish 11,000,000 authorized shares of Series B
Convertible Preferred Stock, (iv) increase the authorized shares of Common Stock from 170,000,000 to 180,000,000 and (v) increase the authorized shares of Series A Common Stock from 150,000,000 to 160,000,000; and further 

RESOLVED, that in accordance with the provisions of the Restated Certificate and subject to the approval of the Company’s
stockholder of the Restated Certificate, the aggregate number of shares of capital stock that the Company shall have authority to issue is (i) 11,000,000 shares of Series B Convertible Preferred Stock, (ii) 105,000,000 shares of Series A Convertible
Preferred Stock, and (iii) 180,000,000 shares of Common Stock, including 160,000,000 shares of Series A Common Stock and 20,000,000 shares of Series B Common Stock; and further 

RESOLVED, that the Company Authorized Officers are and each of them hereby is authorized and directed to deliver on behalf of the
Company, the Restated Certificate to the stockholders of the Company for approval, in such form and with such changes as may be approved by such Company Authorized Officer; and further 

RESOLVED, that, if approved by the stockholders of the Company, the Company Authorized Officers are and each of them hereby is
authorized and instructed to promptly execute and file with the appropriate Delaware authorities the Restated Certificate and any other documents he or they deem necessary or appropriate to effect and accomplish the effects of the Restated
Certificate, including payment of all fees and charges of the Delaware authorities and legal fees incurred thereto; 
 Subscription Agreements;
Issuance of Series B Convertible Preferred Stock 
 WHEREAS, the Board has been presented with a draft of the Form of
Subscription Agreement, pursuant to which the Company proposes to issue and sell up to an aggregate 10,724,000 shares of Series B Convertible Preferred Stock, in one or more issuances, on the terms set forth in the Subscription Agreements to certain
of its existing stockholders at an original issue price of at least $3.73 per share and having an initial conversion price of at least $3.73 per share; 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 WHEREAS, pursuant to Section 6.8(h) of that certain Amended and Restated
Investors Agreement, dated as of April 26, 2016, by and among the Company and stockholders of the Company named therein (the “Investors Agreement”), the Company may not enter into agreements with or for the benefit of
any Affiliate of the Company or any of its Subsidiaries without the prior affirmative vote of 70% of the Board members, such vote to include the affirmative vote of at least one Non-ECP Director that is not
the Chief Executive Officer or President of the Company (a “Board Supermajority”); and 
 WHEREAS, pursuant
to Section 4.1(g) of the Investors Agreement, the Company may comply with the provisions of Article IV of the Investors Agreement with respect to any Preemptive Rights Offer by making an offer to sell to the Principal Investors that do not
participate in the initial offering of the Series B Convertible Preferred Stock (and do not waive their related preemptive rights) their respective Proportionate Percentage (as defined in the Investors Agreement) of Series B Convertible Preferred
Stock; 
 WHEREAS, in connection with the closing of the sale of Series B Convertible Preferred Stock pursuant to the Subscription
Agreements, the Company may be required under Article IV of the Investors Agreement to offer shares of Series B Convertible Preferred Stock to certain Principal Investors (as defined in the Investors Agreement) on the terms set forth in such Article
IV (the “Preemptive Rights Offers”); 
 WHEREAS, certain of the Company’s existing investors, including
the ECP Investors (as defined in the Investors Agreement), are expected to subscribe, in one or more issuances, for the Series B Convertible Preferred Stock pursuant to the Subscription Agreements; and 

WHEREAS, the Board has determined that the Subscription Agreements, the transactions contemplated by the Subscription Agreements and
any related Preemptive Rights Offers are in the best interests of the Company, including the issuance and sale of up to an aggregate 10,724,000 shares of Series B Convertible Preferred Stock, in one or more issuances, on the terms set forth in the
Subscription Agreements to certain of the existing stockholders; 
 NOW, THEREFORE, BE IT RESOLVED, that the execution and delivery
by the Company of the Subscription Agreements and the performance of the transactions contemplated by the Subscription Agreements, including the issuance of the Series B Convertible Preferred Stock (a) are in furtherance of the proper purposes
of the Company, (b) will benefit the Company and (c) are hereby approved, authorized and ratified in all respects; and further 

RESOLVED, that (a) the Board hereby adopts, approves and authorizes the form, terms and provisions of the Subscription Agreements
and (b) each of the Company Authorized Officers be and each of them hereby is authorized and empowered to enter into, execute and deliver the Subscription Agreements with such amendments, supplements, modifications and other changes thereto as
shall be approved by any such Company Authorized Officer, such Company Authorized Officer’s execution and delivery thereof to be conclusive evidence of the approval of the Board; and further 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 RESOLVED, that the Board hereby authorizes and approves in all respects the issuance
and sale of up to an aggregate 10,724,000 shares of a newly created series of Series B Convertible Preferred Stock, in one or more issuances, at an original issue price of at least $3.73 per share and having an initial conversion price of at least
$3.73 per share to certain of the existing stockholders, including the ECP Investors, in the manner provided in and in exchange for the consideration described in each of the Subscription Agreements, and such shares, when issued in accordance with
the Subscription Agreement against payment therefor, shall constitute validly issued, fully paid and non-assessable shares of Series B Convertible Preferred Stock; and further 

Reservation of Series A Common Stock 

RESOLVED, that an aggregate of 10,724,000 shares of the authorized but unissued shares of the Company’s Series A Common Stock are
hereby reserved for issuance upon conversion of such Series B Convertible Preferred Stock issuable pursuant to the rights of the Series B Convertible Preferred Stock contained in the Restated Certificate, subject to adjustment from time to time, and
when such shares of Series A Common Stock (and any additional shares of Series A Common Stock that may be issued pursuant to the rights of the Series B Convertible Preferred Stock contained in the Restated Certificate) are issued upon conversion of
such Series A Convertible Preferred Stock, such shares of Series A Common Stock shall be validly issued, fully paid and nonassessable; and further 

RESOLVED, that the Company shall at all times reserve and keep available out of its authorized but unissued shares of Series A Common
Stock such number of shares as shall from time to time be sufficient to effect the conversion of the Series B Convertible Preferred Stock, subject to adjustment from time to time; and further 

RESOLVED, that Company Authorized Officers are and each of them hereby is authorized and directed to perform all acts or obligations,
to execute, deliver or file all such additional agreements, certificates, instruments and other documents which such Company Authorized Officer deems necessary or desirable to implement transactions contemplated by the Subscription Agreements, to
carry out the purposes and intent of these resolutions, to perform the obligations of the Company under the Subscription Agreements and to consummate the closing of the transactions contemplated thereby; and further 

RESOLVED, that the Board authorizes and directs the reservation of 10,724,000 shares of Series A Common Stock to be issued as may be
necessary or appropriate at such time and in such specific amounts with respect to the conversion of shares of Series B Convertible Preferred Stock pursuant to the Restated Certificate, and upon such issuance, such Series A Common Stock shall be
duly authorized, validly issued, fully paid and non-assessable; and further 
 Blue Sky Filings 

RESOLVED, that the Company Authorized Officers be, and each of them individually hereby is, authorized and empowered, in the name and on
behalf of the Company, to take such actions as they deem necessary, appropriate or desirable to obtain all consents and approvals and otherwise to comply with the federal securities laws and the securities or Blue Sky laws of the various states and
jurisdictions in which such consent, approval or compliance is 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
necessary in connection with the offering of Series B Convertible Preferred Stock contemplated hereby; and that the form of any resolution required by any state or other authority to be filed in
connection with the offering of Series B Convertible Preferred Stock contemplated hereby is approved and adopted if, in the opinion of any of the Company Authorized Officers, upon advice of counsel, the adoption of such resolution is necessary,
appropriate or desirable for the success of the offering of Series B Convertible Preferred Stock contemplated hereby; and that the Company Authorized Officers be, and each of them individually hereby is, authorized and empowered to date and execute
any such form of resolution or certificate with respect to such resolutions, and to apply the company seal thereto, and to file copies of all such resolutions in the form so executed with the minutes of the proceedings of the Board, and thereupon
such resolutions shall be deemed to have been adopted by the Board with the same force and effect as if presented to and adopted by the Board; and further 

Investor Agreement 

WHEREAS, in connection with the transactions contemplated by the Subscription Agreements, the Board has determined it is in the best
interests of the Company to enter into an amendment and restatement of the Investors Agreement, in substantially the form presented to the Board as set forth in Annex B (the “Restated Investor Agreement”), by and among
the parties thereto; 
 NOW THEREFORE BE IT RESOLVED, that the execution and delivery by the Company of the Restated Investor
Agreement and the performance of the transactions contemplated by the Restated Investor Agreement (a) are in furtherance of the proper purposes of the Company, (b) will benefit the Company and (c) are hereby approved, authorized and
ratified in all respects, and further 
 RESOLVED, that (a) the Board hereby adopts, approves and authorizes the form, terms and
provisions of the Restated Investor Agreement and (b) each of the Company Authorized Officers be and each of them hereby is authorized and empowered to enter into, execute and deliver the Restated Investor Agreement with such amendments,
supplements, modifications and other changes thereto as shall be approved by any such Company Authorized Officer, such Company Authorized Officer’s execution and delivery thereof to be conclusive evidence of the approval of the Board; and
further 
 First Supplemental Indenture to Senior Secured Notes Indenture; 

First Amendment to Purchase Agreement 

WHEREAS, the Company previously issued its 12.00% Senior Secured Notes due 2018 (the “Senior Secured Notes”)
pursuant to the Indenture, dated as of April 24, 2017, by and between the Company, Wilmington Trust, National Association (the “Trustee”), as trustee and collateral trustee (as amended and modified from time to time,
including by the Waiver and Consent Agreement (as defined below), the “Indenture”); 
 WHEREAS, execution of
a waiver, consent or similar agreement under the Indenture in order to permit the issuance of the Series B Convertible Preferred Stock pursuant to the Subscription Agreements is a condition to closing in the Subscription Agreements; 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 WHEREAS, the Board has been presented with a draft of a First Supplemental Indenture
(the “First Supplemental Indenture”) to be entered into among the Company, the Trustee and certain holders of the Senior Secured Notes (the “Noteholders”), pursuant to which the Noteholders would
consent to, among other things, (i) the issuance of the Series B Preferred Stock and agree that such issuance shall be permitted under the last sentence of Section 4.07 of the Indenture so long as such issuance conforms to the requirements
of Section 4.07(b)(ii) of the Indenture and (ii) any future issuances of Equity Interests of the Issuer that conform to the requirements of Section 4.03 and Section 4.07(b)(ii) of the Indenture; and 

WHEREAS, the Company and certain of the Noteholders are parties to that certain Purchase Agreement, dated as of April 24, 2017
(the “Purchase Agreement”); 
 WHEREAS, the Board has been presented with a draft of a First Amendment to
Purchase Agreement (the “First Amendment to Purchase Agreement”) to be entered into among the Company and the Noteholders; 

WHEREAS, certain of the Noteholders are Affiliates (as defined in the Investors Agreement) of the Company and, pursuant to
Section 6.8(h) of the Investors Agreement, the Company may not enter into agreements with or for the benefit of any Affiliate of the Company or any of its Subsidiaries without the prior affirmative vote of a Board Supermajority; 

NOW THEREFORE BE IT RESOLVED, that the negotiation, execution and delivery by the Company of each of the First Supplemental Indenture
and the First Amendment to Purchase Agreement (a) is in furtherance of the proper purposes of the Company, (b) will benefit the Company and (c) is hereby approved, authorized and ratified in all respects; and further 

RESOLVED, that the form, terms and provisions of each of the First Supplemental Indenture and the First Amendment to Purchase Agreement
are hereby approved in all respects and the Company Authorized Officers be and each of them hereby is authorized and empowered to execute and deliver each of the First Supplemental Indenture and the First Amendment to Purchase Agreement with such
changes therein, additions thereto and deletions therefrom as shall be approved by any such Company Authorized Officer, such Company Authorized Officer’s execution and delivery thereof to be conclusive evidence of the approval of the Board; and
further 
 Miscellaneous 

RESOLVED, that all prior actions of the Company Authorized Officers, or any of them, and any representative of the Company acting in
connection with the direction of any Company Authorized Officer, in connection with the transactions contemplated by these resolutions be, and each of them hereby is, approved, ratified and confirmed; and further 

RESOLVED, that the Company Authorized Officers be, and each of them hereby is, authorized and empowered to take or cause to be taken
all such further action and to sign, execute, acknowledge, certify, attest, deliver, accept, record and file all such further documents, amendments, amendments and restatements, supplements, certificates and instruments in the name and on behalf of
the Company as such officer, in such officer’s sole discretion, may determine to be necessary, desirable or advisable to fulfil the intent and accomplish the purposes of the foregoing resolutions, such determinations to be conclusively
evidenced by the taking of any such further action or the execution and delivery of any such further documents; and further 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 RESOLVED, that the foregoing powers and authorizations shall continue in full force
and effect until revoked in writing by the Company; and further 
 RESOLVED, that each Company Authorized Officer is hereby
authorized, empowered and directed to cause the Company to perform its obligations under the Subscription Agreement, the Restated Investors Agreement and the Waiver and Consent Agreement in accordance with their respective terms. 

[Remainder of Page Intentionally Left Blank] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Annex A 

Restated Certificate 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 FIFTH AMENDED AND RESTATED 

CERTIFICATE OF INCORPORATION 

OF 
 SUNNOVA ENERGY
CORPORATION 
 Sunnova Energy Corporation, a corporation organized and existing under the laws of the State of Delaware, hereby
certifies: 
 FIRST. The name of the corporation is Sunnova Energy Corporation. The corporation’s original Certificate of Incorporation
was filed with the Secretary of State of the State of Delaware on October 22, 2012. The corporation’s Amended and Restated Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on November 21,
2012. The corporation’s Second Amended and Restated Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on December 20, 2013. The corporation’s Third Amended and Restated Certificate of
Incorporation was filed with the Secretary of State of the State of Delaware on March 16, 2016. The corporation’s Fourth Amended and Restated Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on
April 24, 2017. 
 SECOND. This Fifth Amended and Restated Certificate of Incorporation was duly adopted in accordance with Sections
242 and 245 of the General Corporation Law of the State of Delaware, and in accordance with Article Fourth, restates, integrates and amends the provisions of the corporation’s Certificate of Incorporation, as amended and restated. 

THIRD. Upon the filing of this Fifth Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware,
the series of stock that was designated as the “Convertible Preferred Stock” in the Fourth Amended and Restated Certificate of Incorporation shall be redesignated as the “Series A Convertible Preferred Stock”. All references to
the previously designated “Convertible Preferred Stock” in this Fifth Amended and Restated Certificate of Incorporation have been adjusted to reflect the foregoing. 

FOURTH. This Fifth Amended and Restated Certificate of Incorporation hereby amends and restates the corporation’s Fourth Amended and
Restated Certificate of Incorporation to read in its entirety as set forth in Annex A hereto. 
 [REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 IN WITNESS WHEREOF, the undersigned has executed this Fifth Amended and Restated Certificate of
Incorporation on this 9th of November 2017. 
  

					
	SUNNOVA ENERGY CORPORATION

 
					
		
	By:	 	 /s/ Jordan Kozar

		 	Name:	 	Jordan Kozar
		 	Title:	 	Chief Financial Officer

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Annex A 

FIFTH AMENDED AND RESTATED 

CERTIFICATE OF INCORPORATION 

OF 
 SUNNOVA ENERGY
CORPORATION 
  
  

ARTICLE I 
 NAME 

Section I.1 The name of the Corporation is “Sunnova Energy Corporation” (the “Corporation”). 

ARTICLE II 
 REGISTERED
AGENT 
 Section II.1 The address of the registered office of the Corporation in the State of Delaware is 2711 Centerville Road, Suite
400, Wilmington, New Castle County, Delaware 19808. The registered agent at that address is Corporation Service Company. 
 ARTICLE III

 PURPOSE 
 Section
III.1 The nature of the business and the purposes to be conducted and promoted by the Corporation shall be to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (as
amended from time to time, the “DGCL”). 
 ARTICLE IV 

AUTHORIZED CAPITAL STOCK 

Section IV.1 The total number of shares of capital stock which the Corporation shall have the authority to issue shall be (i) one hundred
and sixteen million (116,000,000) shares of convertible preferred stock having a par value of $0.01 per share (“Convertible Preferred Stock”), (a) of which one hundred and five million (105,000,000) shares are designated as
the “Series A Convertible Preferred Stock” and (b) of which eleven million (11,000,000) shares are designated as the “Series B Convertible Preferred Stock”; and (ii) one hundred and eighty million
(180,000,000) shares of common stock having a par value of $0.01 per share (“Common Stock”). The voting power, preferences and relative participating, optional or other special rights and the qualifications, limitations or
restrictions of the above classes of stock are as specified below. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-1 

 Section IV.2 COMMON STOCK 

The Corporation shall have two classes of Common Stock: Series A Common Stock and Series B Common Stock. The Corporation shall have the
authority to issue one hundred and sixty million (160,000,000) shares of Series A Common Stock and twenty million (20,000,000) shares of Series B Common Stock. 

The designations and the powers, preferences and rights of the Common Stock are as follows 

(a) Voting. 

(i) The holders of shares of Series A Common Stock shall be entitled to one vote for each share of Series A Common Stock upon
all matters presented to the stockholders and shall have the right to vote for the election of directors and for all other purposes; provided, however, that except as otherwise required by law, holders of Series A Common Stock, as
such, shall not be entitled to vote on any amendment to this Certificate of Incorporation that relates solely to the terms of one or more outstanding series of Convertible Preferred Stock, if the holders of such affected series are entitled, either
separately or together with the holders of one or more other such series, to vote thereon pursuant to the Certificate of Incorporation or pursuant to the DGCL. 

(ii) The holders of shares of Series B Common Stock shall be nonvoting and shall not have the right to vote on any matter
involving the Corporation, except as required by applicable law. 
 (iii) The number of authorized shares of Common Stock, or
of any class or classes of Common Stock, may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of shares of capital stock of the Corporation representing a majority of the
votes represented by all outstanding shares of capital stock of the Corporation entitled to vote, irrespective of the provisions of Section 242(b)(2) of the DGCL. 

(b) Dividends. The holders of the Common Stock shall be entitled to such dividends in respect thereof (on a pro rata
basis based upon the number of then-outstanding shares of Common Stock) as may from time to time be declared by the Board of Directors of the Corporation (the “Board of Directors”), but only when and as declared by the Board of
Directors, out of any funds legally available for declaration of dividends, and subject to any provisions of this Certificate of Incorporation, any Certificate of Designation and any resolutions of the Board of Directors adopted pursuant to
authority contained herein and therein requiring that dividends be declared, paid or set aside upon the outstanding shares of Convertible Preferred Stock of any series or upon the outstanding shares of any other class of capital stock ranking senior
to the Common Stock as to dividends or that the Corporation fulfill any obligations it may have with respect to the redemption of any outstanding Convertible Preferred Stock as a condition to the declaration and/or payment of any dividend on the
Common Stock; provided, however, that no dividends may be declared, paid or set aside upon the outstanding shares of Common Stock unless and until all declared and unpaid dividends upon the outstanding shares of Convertible Preferred
Stock, if any, have been paid. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-2 

 (c) Liquidation. In the event of the voluntary or involuntary
liquidation, dissolution or winding up of the affairs of the Corporation, the holders of the Common Stock shall be entitled to share pro rata (based upon the number of then-outstanding shares of Common Stock) in the net assets available for
distribution to holders of Common Stock after satisfaction of the prior claims of the holders of shares of Convertible Preferred Stock of any series and shares of any other class of capital stock ranking senior to the Common Stock as to assets, in
accordance with the provisions of this Certificate of Incorporation, any Certificate of Designation and any resolutions of the Board of Directors adopted pursuant to authority herein contained. 

(d) Uncertificated Shares. Nothing in this Certificate of Incorporation or any Certificate of Designation limits or will
be interpreted to limit the power of the Board of Directors under the DGCL to provide that some or all of any or all classes or series of Convertible Preferred Stock or Common Stock shall be uncertificated. 

Section IV.3 CONVERTIBLE PREFERRED STOCK 

One hundred and five million (105,000,000) shares of the authorized and unissued Convertible Preferred Stock of the Corporation are hereby
designated as the “Series A Convertible Preferred Stock” (the “Series A Preferred Stock”) and eleven million (11,000,000) shares of the authorized and unissued Convertible Preferred Stock of the Corporation are hereby
designated as the “Series B Convertible Preferred Stock” (the “Series B Preferred Stock”). 
 The designations
and the powers, preferences and rights, and restrictions, qualifications and limitations, of the Convertible Preferred Stock are as follows: 

(a) Dividends. 

(i) From and after the date of the issuance of any shares of Series A Preferred Stock, dividends in the amount of 6% per annum
on the sum of the Series A Preferred Original Issue Price (as defined below) plus the amount of previously accrued dividends, measured quarterly, shall accrue on such shares of Series A Preferred Stock (subject to appropriate adjustment in the event
of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series A Preferred Stock) (all such accrued dividends, the “Accruing Series A Preferred Dividends”). Accruing Series A Preferred
Dividends shall accrue quarterly, whether or not declared, and shall be cumulative; provided, however, that except as set forth in the following sentence of this Section IV.3(a) or in
Section IV.3(b)(i), such Accruing Series A Preferred Dividends shall be payable in cash only when, as and if declared by the Board of Directors and the Corporation otherwise shall be under no obligation to pay such Accruing
Series A Preferred Dividends. The Corporation shall not declare, pay or set aside any dividends on Common Stock (other than dividends on shares of Common Stock payable in shares 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-3 

 
of Common Stock) unless (in addition to the obtaining of any consents required elsewhere in the Certificate of Incorporation) the holders of the Series A Preferred Stock then outstanding shall
first receive, or simultaneously receive, a dividend on each outstanding share of Series A Preferred Stock in an amount equal to the sum of (i) the amount of the aggregate Accruing Series A Preferred Dividends then accrued on such share of
Series A Preferred Stock and not previously paid, and (ii) that dividend per share of Series A Preferred Stock as would equal the product of (1) the dividend payable on each share of Series A Common Stock and (2) the number of shares
of Series A Common Stock issuable upon conversion of a share of Series A Preferred Stock, in each case calculated on the record date for determination of holders entitled to receive such dividend. The “Series A Preferred Original Issue
Price” shall mean $5.3246735 per share, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series A Preferred Stock. 

(ii) From and after the date of the issuance of any shares of Series B Preferred Stock, the Company shall automatically
increase the Series B Preferred Original Issue Price (as defined below) of each outstanding share of Series B Preferred Stock, on a quarterly basis, by an amount equal to 14% per annum (the “Series B PIK Accretion”). The
“Series B Preferred Original Issue Price” shall mean $3.73 per share, subject to appropriate adjustment for any Series B PIK Accretion and in the event of any stock dividend, stock split, combination or other similar
recapitalization with respect to the Series B Preferred Stock. 
 (b) Liquidation, Dissolution or Winding Up; Certain
Mergers, Consolidations and Asset Sales. 
 (i) Preferential Payments to Holders of Convertible Preferred Stock.
Upon voluntary or involuntary liquidation, dissolution or winding up of the Corporation or any Deemed Liquidation Event (as defined below), subject to the rights of any class or series of capital stock of the Corporation ranking senior to the
Convertible Preferred Stock in respect of payments on liquidation, dissolution or winding up of the Corporation or any Deemed Liquidation Event: 

(A) Each holder of shares of Series B Preferred Stock then outstanding shall be entitled to payment out of the assets of the
Corporation available for distribution to its stockholders, prior and in preference to the holders of Series A Preferred Stock, Common Stock and any other class or series of capital stock of the Corporation ranking junior to the Series B Preferred
Stock by reason of their ownership thereof in respect of payment on liquidation, dissolution or winding up or any Deemed Liquidation Event, in an amount per share of Series B Preferred Stock (such amount, the “Series B Liquidation
Preference”) equal to the greater of (1) the Series B Preferred Original Issue Price, or (2) such amount per share as would have been payable had all shares of Series B Preferred Stock been converted into Series A Common Stock
pursuant to Section IV.3(d) immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event (the 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-4 

 
amount payable pursuant to this sentence is hereinafter referred to as the “Series B Preferred Liquidation Amount”). If upon any such liquidation, dissolution or winding up of
the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Series B Preferred Stock the full amount to which they shall be entitled
under this Section IV.3(b)(i) Section IV.3(b)(i), the holders of shares of Series B Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts
which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full. 

(B) After the payment of all preferential amounts required to be paid to the holders of Series B Preferred Stock, each holder
of shares of Series A Preferred Stock then outstanding shall be entitled to payment out of the assets of the Corporation available for distribution to its stockholders, prior and in preference to the holders of Common Stock and any other class or
series of capital stock of the Corporation ranking junior to the Series A Preferred Stock by reason of their ownership thereof in respect of payment on liquidation, dissolution or winding up or any Deemed Liquidation Event, in an amount per share of
Series A Preferred Stock (such amount, the “Series A Liquidation Preference”) equal to the greater of (1) the sum of (x) the Series A Preferred Original Issue Price, plus (y) any Accruing Series A Preferred Dividends
accrued but unpaid to the date fixed for liquidation, dissolution or winding up or of the Deemed Liquidation Event (it being understood that the Series A Liquidation Preference as of any date shall for all purposes hereunder be deemed to include
Accruing Series A Preferred Dividends that have accrued thereon, whether or not declared, since the dividend payment date immediately preceding the date of such liquidation, dissolution or winding up or Deemed Liquidation Event to the extent unpaid
as of such date) or (2) such amount per share as would have been payable had all shares of Series A Preferred Stock been converted into Series A Common Stock pursuant to Section IV.3(d) immediately prior to such liquidation, dissolution,
winding up or Deemed Liquidation Event (the amount payable pursuant to this sentence is hereinafter referred to as the “Series A Preferred Liquidation Amount”). If upon any such liquidation, dissolution or winding up of the
Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Series A Preferred Stock the full amount to which they shall be entitled
under this Section IV.3(b)(i)(B), the holders of shares of Series A Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in
respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-5 

 (ii) Payments to Holders of Common Stock. In the event of any
voluntary or involuntary liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, after the payment of all preferential amounts required to be paid to the holders of shares of Convertible Preferred Stock, the remaining
assets of the Corporation available for distribution to its stockholders shall be distributed among the holders of shares of Common Stock, pro rata based on the number of shares held by each such holder. 

(iii) Deemed Liquidation Events. 

(A) Each of the following events shall be considered a “Deemed Liquidation Event” unless the holders
of at least 75% of the outstanding shares of Series A Preferred Stock and Series B Preferred Stock (with the shares of Series A Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been
converted into Series A Common Stock pursuant to Section IV.3(d) (whether or not such shares of Series B Preferred Stock are then convertible)) elect otherwise by written notice sent to the Corporation at least three (3) days prior to the
effective date of any such event: 
 (1) a merger or consolidation in which 

(I) the Corporation is a constituent party or 

(II) a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to
such merger or consolidation, except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to
represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (1) the surviving or resulting
corporation; or (2) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; or 

(2) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related
transactions, by the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or the sale or disposition (whether by merger, consolidation or otherwise) of one
or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-6 

 
its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of
the Corporation; 
 provided, however, that a transaction or series of related transactions shall not constitute a Deemed
Liquidation Event if its sole purpose is to change the state of the Corporation’s incorporation or to create a holding company that will be owned in substantially the same proportions by the stockholders who held the Corporation’s
securities immediately prior to such transaction or series of related transactions. 
 (B) The Corporation shall not have
the power to effect a Deemed Liquidation Event referred to in Section IV.3(b)(iii)(A)(1)(I) unless the agreement or plan of merger or consolidation for such transaction (the “Merger Agreement”) provides that the consideration
payable to the stockholders of the Corporation shall be allocated among the holders of capital stock of the Corporation in accordance with Section IV.3(b)(i) and Section IV.3(b)(ii). 

(C) In the event of a Deemed Liquidation Event referred to in Section IV.3(b)(iii)(A)(1)(II) or
Section IV.3(b)(iii)(A)(2), if the Corporation does not effect a dissolution of the Corporation under the DGCL within ninety (90) days after such Deemed Liquidation Event, then (i) the Corporation shall send a
written notice to each holder of Convertible Preferred Stock no later than the ninetieth (90th) day after the Deemed Liquidation Event advising such holders of their right (and the requirements to be met to secure such right) pursuant to the terms
of the following clause (ii) to require the redemption of such shares of Convertible Preferred Stock; and (ii) if the holders of at least 75% of the then outstanding shares of Series A Preferred Stock and Series B Preferred Stock (with the
shares of Series A Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been converted into Series A Common Stock pursuant to Section IV.3(d) (whether or not such shares of Series B Preferred
Stock are then convertible)) so request in a written instrument delivered to the Corporation not later than one hundred twenty (120) days after such Deemed Liquidation Event, the Corporation shall use the consideration received by the
Corporation for such Deemed Liquidation Event (net of any retained liabilities associated with the assets sold or technology licensed, as determined in good faith by the Board of Directors), together with any other assets of the Corporation
available for distribution to its stockholders, all to the extent permitted by Delaware law governing distributions to stockholders (the “Available Proceeds”), on the one hundred fiftieth (150th) day after such Deemed Liquidation
Event, to redeem all outstanding shares of Convertible Preferred Stock at a price per share equal to Series A Preferred Liquidation Amount or the Series B Preferred 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-7 

 
Liquidation Amount, as applicable. Notwithstanding the foregoing, in the event of a redemption pursuant to the preceding sentence, if the Available Proceeds are not sufficient to redeem all
outstanding shares of Convertible Preferred Stock, the Corporation shall ratably redeem each holder’s shares of Convertible Preferred Stock to the fullest extent of such Available Proceeds in conformity with the priorities set forth in
Section IV.3(b)(i) and Section IV.3(b)(ii), and shall redeem the remaining shares as soon as it may lawfully do so under the DGCL governing distributions to stockholders. Prior to the distribution or redemption provided for in this
Section IV.3(b)(iii)(C), the Corporation shall not expend or dissipate the consideration received for such Deemed Liquidation Event, except to discharge expenses incurred in connection with such Deemed Liquidation Event or in the ordinary
course of business. 
 (D) If the amount deemed paid or distributed under this
Section IV.3(b)(iii) is made in property other than in cash, the value of such distribution shall be the fair market value of such property, determined as follows: 

(1) For securities not subject to investment letters or other similar restrictions on free marketability, 

(I) if traded on a securities exchange, the value shall be deemed to be the average of the closing prices of the securities on
such exchange or market over the thirty (30) day period ending three (3) days prior to the closing of such transaction; 

(II) if actively traded over-the-counter, the
value shall be deemed to be the average of the closing bid prices over the thirty (30) day period ending three (3) days prior to the closing of such transaction; or 

(III) if there is no active public market, the value shall be the fair market value thereof, as determined in good faith by
the Board of Directors of the Corporation. 
 (2) The method of valuation of securities subject to investment letters or
other similar restrictions on free marketability (other than restrictions arising solely by virtue of a stockholder’s status as an affiliate or former affiliate) shall take into account an appropriate discount (as determined in good faith by
the Board of Directors) from the market value as determined pursuant to clause (1) above so as to reflect the approximate fair market value thereof. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-8 

 (3) If holders of at least 75% of the then outstanding shares of Series A
Preferred Stock and Series B Preferred Stock (with the shares of Series A Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been converted into Series A Common Stock pursuant to Section
IV.3(d) (whether or not such shares of Series B Preferred Stock are then convertible)) object to the valuation determined by the Board of Directors, then the value shall be the fair market value as mutually determined by the Corporation and such
holders of Convertible Preferred Stock, and if the Corporation and such holders are unable to reach agreement, then the fair market value shall be established by an independent nationally recognized investment bank reasonably acceptable to both the
Corporation and such holders of Convertible Preferred Stock. 
 (E) In the event of a Deemed Liquidation Event pursuant to
Section IV.3(b)(iii)(A)(1)(I), if any portion of the consideration payable to the stockholders of the Corporation is payable only upon satisfaction of contingencies (the “Additional Consideration”), the Merger Agreement shall
provide that (a) the portion of such consideration that is not Additional Consideration (such portion, the “Initial Consideration”) shall be allocated among the holders of capital stock of the Corporation in accordance with
Section IV.3(b)(i) and Section IV.3(b)(ii) as if the Initial Consideration were the only consideration payable in connection with such Deemed Liquidation Event; and (b) any Additional Consideration which becomes payable to the
stockholders of the Corporation upon satisfaction of such contingencies shall be allocated among the holders of capital stock of the Corporation in accordance with Section IV.3(b)(i) and Section IV.3(b)(ii) after taking into account
the previous payment of the Initial Consideration as part of the same transaction. For the purposes of this Section IV.3(b)(iii)(E), consideration placed into escrow or retained as holdback to be available for satisfaction
of indemnification or similar obligations in connection with such Deemed Liquidation Event shall be deemed to be Additional Consideration. 

(c) Voting. On any matter presented to the stockholders of the Corporation for their action or consideration at any
meeting of stockholders of the Corporation (or by written consent of stockholders in lieu of meeting): 
 (i) Each holder of
outstanding shares of Series A Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of Series A Common Stock into which the shares of Series A Preferred Stock held by such holder are convertible as of the
record date for determining stockholders entitled to vote on such matter. Except as provided by law or by the other provisions of the Certificate of Incorporation, holders of Series A Preferred Stock shall vote together with the holders of those
shares of Series B Preferred Stock and Common Stock entitled to vote on a particular matter, as a single class. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-9 

 (ii) Notwithstanding anything to the contrary, until the expiration or early
termination of the waiting period pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the acquisition of Series B Preferred Stock by Energy Capital Partners III-C, LP
(“ECP III-C”) as contemplated by the Subscription Agreements (the “Series B Subscription Agreements”), dated as of November [•], 2017, by and between the
Corporation, one the one hand, and ECP III-C and the other holders of the Series B Preferred Stock, on the other hand (the “HSR Act Approval”), each holder of outstanding shares of Series B
Preferred Stock shall not be entitled to any voting rights. Upon obtaining HSR Act Approval, each holder of outstanding shares of Series B Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of Series A
Common Stock into which the shares of Series B Preferred Stock held by such holder are convertible as of the record date for determining stockholders entitled to vote on such matter (with the shares of Series B Preferred Stock voting on an “as
converted basis” as if such shares had been converted into Series A Common Stock pursuant to Section IV.3(d) (whether or not such shares of Series B Preferred Stock are then convertible)). Except as provided by law or by the other
provisions of the Certificate of Incorporation, holders of Series B Preferred Stock shall vote together with the holders of those shares of Series A Preferred Stock and Common Stock entitled to vote on a particular matter, as a single class. 

(d) Optional Conversion. The holders of the Convertible Preferred Stock shall have conversion rights as follows (the
“Conversion Rights”): 
 (i) Right to Convert. 

(A) Conversion Ratio. 

(1) Each share of Series A Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from
time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and non-assessable shares of Series A Common Stock as is determined by dividing the
Series A Preferred Original Issue Price by the Series A Preferred Conversion Price (as defined below) in effect at the time of conversion. The “Series A Preferred Conversion Price” shall initially be equal to $5.3246735. Such
initial Series A Preferred Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Series A Common Stock, shall be subject to adjustment as provided below. 

(2) Upon obtaining HSR Act Approval, each share of Series B Preferred Stock shall be convertible, at the option of the holder
thereof, at any time and from time to time, at or after the earlier of (i) November [•], 2018, and (ii) immediately prior to the consummation of a “Sale of the Company” (as defined in the Investors Agreement (as defined
below)), and without the payment 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-10 

 
of additional consideration by the holder thereof, into such number of fully paid and non-assessable shares of Series A Common Stock as is determined by
dividing the Series B Preferred Original Issue Price by the Series B Preferred Conversion Price (as defined below) in effect at the time of conversion. The “Series B Preferred Conversion Price” shall initially be equal to $3.73.
Such initial Series B Preferred Conversion Price, and the rate at which shares of Series B Preferred Stock may be converted into shares of Series A Common Stock, shall be subject to adjustment as provided below. 

(B) Termination of Conversion Rights. In the event of a liquidation, dissolution or winding up of the Corporation or a
Deemed Liquidation Event, the Conversion Rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of the applicable series of
Convertible Preferred Stock. 
 (ii) Fractional Shares. No fractional shares of Series A Common Stock shall be issued
upon conversion of the Convertible Preferred Stock. In lieu of any fractional shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the fair market value of a share of Series A
Common Stock as determined in good faith by the Board of Directors. Whether or not fractional shares would be issuable upon such conversion shall be determined on the basis of the total number of shares of Convertible Preferred Stock that the holder
is at the time converting into Series A Common Stock and the aggregate number of shares of Series A Common Stock issuable upon such conversion. 

(iii) Mechanics of Conversion. 

(A) Notice of Conversion. In order for a holder of Convertible Preferred Stock to voluntarily convert shares of
Convertible Preferred Stock into shares of Series A Common Stock, such holder shall (i) provide written notice to the Corporation’s transfer agent at the office of the transfer agent for the Convertible Preferred Stock (or at the principal
office of the Corporation if the Corporation serves as its own transfer agent) that such holder elects to convert all or any number of such holder’s shares of Convertible Preferred Stock and, if applicable, any event on which such conversion is
contingent and (ii) if such holder’s shares are certificated, surrender the certificate or certificates for such shares of Convertible Preferred Stock (or, if such registered holder alleges that such certificate has been lost, stolen or
destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such
certificate), at the office of the transfer agent for the Convertible Preferred Stock (or at the principal office of the Corporation if the Corporation serves as its own transfer agent). Such 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-11 

 
notice shall state such holder’s name or the names of the nominees in which such holder wishes the shares of Series A Common Stock to be issued. If required by the Corporation, any
certificates surrendered for conversion shall be endorsed or accompanied by a written instrument or instruments of transfer, in form reasonably satisfactory to the Corporation, duly executed by the registered holder or his, her or its attorney duly
authorized in writing. The close of business on the date of receipt by the transfer agent (or by the Corporation if the Corporation serves as its own transfer agent) of such notice and, if applicable, certificates (or lost certificate affidavit and
agreement) shall be the time of conversion (the “Conversion Time”), and the shares of Series A Common Stock issuable upon conversion of the specified shares shall be deemed to be outstanding of record as of such date. The
Corporation shall, as soon as practicable after the Conversion Time (i) issue and deliver to such holder of Convertible Preferred Stock, or to his, her or its nominees, a notice of issuance of uncertificated shares and may, upon written
request, issue and deliver a certificate for the number of full shares of Series A Common Stock issuable upon such conversion in accordance with the provisions hereof and, may, if applicable and upon written request, issue and deliver a certificate
for the number (if any) of the shares of Convertible Preferred Stock represented by any surrendered certificate that were not converted into Series A Common Stock, (ii) pay in cash such amount as provided in Section IV.3(d)(ii) in lieu
of any fraction of a share of Series A Common Stock otherwise issuable upon such conversion and (iii) pay all applicable declared but unpaid dividends on the shares of Convertible Preferred Stock converted. 

(B) Reservation of Shares. The Corporation shall, at all times when the Convertible Preferred Stock shall be
outstanding, reserve and keep available out of its authorized but unissued capital stock, for the purpose of effecting the conversion of the Convertible Preferred Stock, such number of its duly authorized shares of Series A Common Stock as shall
from time to time be sufficient to effect the conversion of all outstanding Convertible Preferred Stock; and if at any time the number of authorized but unissued shares of Series A Common Stock shall not be sufficient to effect the conversion of all
then outstanding shares of the Convertible Preferred Stock, the Corporation shall take such corporate action as may be necessary to increase its authorized but unissued shares of Series A Common Stock to such number of shares as shall be sufficient
for such purposes, including, without limitation, engaging in best efforts to obtain the requisite stockholder approval of any necessary amendment to the Certificate of Incorporation. Before taking any action which would cause an adjustment reducing
the Series A Preferred Conversion Price or the Series B Preferred Conversion Price, as applicable, below the then par value of the shares of Series A Common Stock issuable upon conversion of the Convertible Preferred Stock, the Corporation will take
any corporate action which may, in the opinion of its counsel, be necessary in order that the Corporation may validly and legally issue fully paid and non-assessable shares of Series A Common Stock at such
adjusted Series A Preferred Conversion Price or Series B Preferred Conversion Price, respectively. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-12 

 (C) Effect of Conversion. All shares of Convertible Preferred Stock
which shall have been surrendered for conversion as herein provided shall no longer be deemed to be outstanding and all rights with respect to such shares shall immediately cease and terminate at the Conversion Time, except only the right of the
holders thereof to receive shares of Series A Common Stock in exchange therefor, to receive payment in lieu of any fraction of a share otherwise issuable upon such conversion as provided Section IV.3(d)(ii) and to receive payment of any
dividends declared but unpaid thereon. Any shares of Convertible Preferred Stock so converted shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without
the need for stockholder action) as may be necessary to reduce the authorized number of shares of Convertible Preferred Stock accordingly. 

(D) No Further Adjustment. Upon any such conversion, no adjustment to the Series A Preferred Conversion Price shall be
made for any declared but unpaid dividends on the Series A Preferred Stock surrendered for conversion or the Series A Common Stock delivered upon conversion. 

(E) Taxes. The Corporation shall pay any and all issue and other similar taxes that may be payable in respect of any
issuance or delivery of shares of Series A Common Stock upon conversion of shares of Convertible Preferred Stock pursuant to this Section IV.3(d). The Corporation shall not, however, be required to pay any tax which may be payable in respect
of any transfer involved in the issuance and delivery of shares of Series A Common Stock in a name other than that in which the shares of Convertible Preferred Stock so converted were registered, and no such issuance or delivery shall be made unless
and until the person or entity requesting such issuance has paid to the Corporation the amount of any such tax or has established, to the reasonable satisfaction of the Corporation, that such tax has been paid. 

(iv) Adjustments to Conversion Price for Diluting Issues. 

(A) Special Definitions. For purposes of this ARTICLE IV, the following definitions shall apply: 

(1) “Options” shall mean rights, options or warrants to subscribe for, purchase or otherwise acquire Common
Stock or Convertible Securities. 
 (2) “Series B Convertible Preferred Original Issue Date” shall
mean the date on which the first share of Series B Preferred Stock was issued. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-13 

 (3) “Convertible Securities” shall mean any evidences of
indebtedness, shares or other securities directly or indirectly convertible into or exchangeable for Common Stock, but excluding Options. 

(4) “Additional Shares of Common Stock” shall mean all shares of Common Stock issued (or, pursuant to
Section IV.3(d)(iv)(C) below, deemed to be issued) by the Corporation after the Series B Convertible Preferred Original Issue Date, other than (x) the following shares of Common Stock and (y) shares of Common Stock deemed issued
pursuant to the following Options and Convertible Securities (clauses (x) and (y), collectively, “Exempt Securities”): 

(I) shares of Common Stock or Convertible Preferred Stock issued or issuable under the Purchase and Exchange Agreement, dated
as of March 16, 2016, by and among the Corporation and the initial holders of Convertible Preferred Stock party thereto (the “Purchase and Exchange Agreement”) or under the Series B Subscription Agreements (or any preemptive
rights with respect thereto); 
 (II) shares of Common Stock, Options or Convertible Securities issued by reason of a
dividend, stock split, split-up or other distribution on shares of Common Stock that is covered by Section IV.3(d)(v), (vi), (vii) or (viii); 

(III) shares of Common Stock, Options or Convertible Securities issued or issuable upon conversion of any of the Convertible
Preferred Stock, or as a dividend or distribution on the Convertible Preferred Stock; 
 (IV) shares of Common Stock,
Options or Convertible Securities issued or issuable upon the conversion of any Convertible Security (but only to the extent that the original issuance of such Convertible Security was subject to adjustment pursuant to this
Section IV.3(d)(iv)); 
 (V) shares of Common Stock, Options or Convertible Securities issued or
issuable to employees or directors of, or consultants or advisors to, the Corporation or any of its subsidiaries (including any shares of Common Stock, Options or Convertible Securities issued upon the conversion or exchange thereof) pursuant to any
plan, agreement or arrangement approved by the Board of Directors; 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-14 

 (VI) shares of Common Stock, Options or Convertible Securities issued or
issuable pursuant to the acquisition of another entity by the Corporation by merger, purchase of substantially all of the assets or a business line, unit or division or other reorganization or pursuant to a joint venture agreement, provided that
such issuances are approved by the Board of Directors; or 
 (VII) shares of Common Stock, Options or Convertible Securities
issued or issuable in any firmly underwritten public offering of shares of Common Stock, Options or Convertible Securities of the Corporation pursuant to a registration statement under the Securities Act of 1933 (an “IPO”). 

(B) No Adjustment of Conversion Price. No adjustment in the Series A Preferred Conversion Price or the Series B
Preferred Conversion Price shall be made as the result of the issuance or deemed issuance of Additional Shares of Common Stock if the Corporation receives written notice from the holders of at least 75% of the then outstanding shares of Series A
Preferred Stock and Series B Preferred Stock (with the shares of Series A Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been converted into Series A Common Stock pursuant to Section
IV.3(d) (whether or not such shares of Series B Preferred Stock are then convertible)) agreeing that no such adjustment shall be made as the result of the issuance or deemed issuance of such Additional Shares of Common Stock. 

(C) Deemed Issue of Additional Shares of Common Stock. 

(1) If the Corporation at any time or from time to time after the Series B Convertible Preferred Original Issue Date shall
issue any Options or Convertible Securities (excluding Options or Convertible Securities which are themselves Exempt Securities) or shall fix a record date for the determination of holders of any class of securities entitled to receive any such
Options or Convertible Securities, then the maximum number of shares of Common Stock (as set forth in the instrument relating thereto, assuming the satisfaction of any conditions to exercisability, convertibility or exchangeability but without
regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or, in the case of Convertible Securities and Options therefor, the conversion or exchange of such Convertible
Securities, shall be deemed to be Additional Shares of Common Stock issued as of the time of such issue or, in case such a record date shall have been fixed, as of the close of business on such record date. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-15 

 (2) If the terms of any Option or Convertible Security, the issuance of
which resulted in an adjustment to the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) pursuant to the terms of
Section IV.3(d)(iv)(D), are revised as a result of an amendment to such terms or any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms
pursuant to anti-dilution or similar provisions of such Option or Convertible Security) to provide for either (1) any increase or decrease in the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any
such Option or Convertible Security or (2) any increase or decrease in the consideration payable to the Corporation upon such exercise, conversion and/or exchange, then, effective upon such increase or decrease becoming effective, the Series A
Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) computed upon the original issue of such Option or Convertible Security (or upon the
occurrence of a record date with respect thereto) shall be readjusted to such Series A Preferred Conversion Price or the Series B Preferred Conversion Price, as applicable, as would have obtained had such revised terms been in effect upon the
original date of issuance of such Option or Convertible Security. Notwithstanding the foregoing, no readjustment pursuant to this clause (2) shall have the effect of increasing the Series A Preferred Conversion Price or the Series B Preferred
Conversion Price to an amount which exceeds the lower of (i) the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in
effect immediately prior to the original adjustment made as a result of the issuance of such Option or Convertible Security, or (ii) the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred
Conversion Price (in the case of the Series B Preferred Stock) that would have resulted from any issuances of Additional Shares of Common Stock (other than deemed issuances of Additional Shares of Common Stock as a result of the issuance of such
Option or Convertible Security) between the original adjustment date and such readjustment date. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-16 

 (3) If the terms of any Option or Convertible Security (excluding Options
or Convertible Securities which are themselves Exempt Securities), the issuance of which did not result in an adjustment to the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion
Price (in the case of the Series B Preferred Stock) pursuant to the terms of Section IV.3(d)(iv)(D) (either because the consideration per share (determined pursuant to Section IV.3(d)(iv)(E)) of the Additional Shares
of Common Stock subject thereto was equal to or greater than the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) then in
effect, or because such Option or Convertible Security was issued before the Series B Convertible Preferred Original Issue Date), are revised after the Series B Convertible Preferred Original Issue Date as a result of an amendment to such terms or
any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms pursuant to anti-dilution or similar provisions of such Option or Convertible Security) to provide for either
(1) any increase in the number of shares of Common Stock issuable upon the exercise, conversion or exchange of any such Option or Convertible Security or (2) any decrease in the consideration payable to the Corporation upon such exercise,
conversion or exchange, then such Option or Convertible Security, as so amended or adjusted, and the Additional Shares of Common Stock subject thereto (determined in the manner provided in Section IV.3(d)(iv)(C)(1) shall be deemed to have
been issued effective upon such increase or decrease becoming effective. 
 (4) Upon the expiration or termination of any
unexercised Option or unconverted or unexchanged Convertible Security (or portion thereof) which resulted (either upon its original issuance or upon a revision of its terms) in an adjustment to the Series A Preferred Conversion Price (in the case of
the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) pursuant to the terms of Section IV.3(d)(iv)(D), the Series A Preferred Conversion Price (in the case of the Series A
Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) shall be readjusted to such Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred
Conversion Price (in the case of the Series B Preferred Stock) as would have obtained had such Option or Convertible Security (or portion thereof) never been issued. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-17 

 (5) If the number of shares of Common Stock issuable upon the exercise,
conversion and/or exchange of any Option or Convertible Security, or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, is calculable at the time such Option or Convertible Security is issued or amended but
is subject to adjustment based upon subsequent events, any adjustment to the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock)
provided for in this Section IV.3(d)(iv)(C) shall be effected at the time of such issuance or amendment based on such number of shares or amount of consideration without regard to any provisions for subsequent adjustments (and any subsequent
adjustments shall be treated as provided in clauses (2) and (3) of this Section IV.3(d)(iv)(C)). If the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any Option or Convertible Security, or the
consideration payable to the Corporation upon such exercise, conversion and/or exchange, cannot be calculated at all at the time such Option or Convertible Security is issued or amended, any adjustment to the Series A Preferred Conversion Price (in
the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) that would result under the terms of this Section IV.3(d)(iv)(C)) at the time of such issuance or amendment
shall instead be effected at the time such number of shares and/or amount of consideration is first calculable (even if subject to subsequent adjustments), assuming for purposes of calculating such adjustment to the Series A Preferred Conversion
Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) that such issuance or amendment took place at the time such calculation can first be made. 

(D) Adjustment of Conversion Price Upon Issuance of Additional Shares of Common Stock. In the event the Corporation
shall at any time after the Series B Convertible Preferred Original Issue Date issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued pursuant to Section IV.3(d)(iv)(C)), without consideration or for
a consideration per share less than the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately prior to such
issue, then the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) shall be reduced, concurrently with such issue, to a price
(calculated to the nearest one-hundredth of a cent) determined in accordance with the following formula: 

CP2 = CP1* (A + B) ÷ (A +
C). 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-18 

 For purposes of the foregoing formula, the following definitions shall apply: 

(1) “CP2” shall mean the Series A Preferred Conversion Price
(in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately after such issue of Additional Shares of Common Stock; 

(2) “CP1” shall mean the Series A Preferred Conversion Price
(in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately prior to such issue of Additional Shares of Common Stock; 

(3) “A” shall mean the number of shares of Common Stock outstanding immediately prior to such issue of Additional
Shares of Common Stock (treating for this purpose as outstanding all shares of Common Stock issuable upon exercise of Options outstanding immediately prior to such issue or upon conversion or exchange of Convertible Securities (including the
Convertible Preferred Stock) outstanding (assuming exercise of any outstanding Options therefor) immediately prior to such issue); 

(4) “B” shall mean the number of shares of Common Stock that would have been issued if such Additional Shares of
Common Stock had been issued at a price per share equal to CP1 (determined by dividing the aggregate consideration received by the Corporation in respect of such issue by CP1); and 

(5) “C” shall mean the number of such Additional Shares of Common Stock issued in such transaction. 

(E) Determination of Consideration. For purposes of this Section IV.3(d)(iv), the
consideration received by the Corporation for the issue of any Additional Shares of Common Stock shall be computed as follows: 

(1) Cash and Property: Such consideration shall: 

(I) insofar as it consists of cash, be computed at the aggregate amount of cash received by the Corporation, excluding amounts
paid or payable for accrued interest; 
 (II) insofar as it consists of property other than cash, be computed at the fair
market value thereof at the time of such issue, as determined in good faith by the Board of Directors; and 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-19 

 (III) in the event Additional Shares of Common Stock are issued together
with other shares or securities or other assets of the Corporation for consideration which covers both, be the proportion of such consideration so received, computed as provided in clauses (I) and (II) above, as determined in good faith by the
Board of Directors. 
 (2) Options and Convertible Securities. The consideration per share received by the
Corporation for Additional Shares of Common Stock deemed to have been issued pursuant to Section IV.3(d)(iv)(C), relating to Options and Convertible Securities, shall be determined by dividing: 

(I) The total amount, if any, received or receivable by the Corporation as consideration for the issuance of such Options or
Convertible Securities, plus the minimum aggregate amount of additional consideration (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such consideration) payable to
the Corporation upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or
exchange of such Convertible Securities, by 
 (II) the maximum number of shares of Common Stock (as set forth in the
instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or in the case of
Options for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or exchange of such Convertible Securities. 

(F) Multiple Closing Dates. In the event the Corporation shall issue on more than one date Additional Shares of Common
Stock that are a part of one transaction or a series of related transactions and that would result in an adjustment to the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price
(in the case of the Series B Preferred Stock) pursuant to the terms of Section IV.3(d)(iv)(D), and such issuance dates occur within a period of no more than 90 days from the first such issuance to the final such issuance,
then, upon the final such issuance, the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) shall be readjusted to give effect to
all such issuances as if they occurred on the date of the first such issuance (and without giving effect to any additional adjustments as a result of any such subsequent issuances within such period). 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-20 

 (v) Adjustment for Stock Splits and Combinations. If the Corporation
shall at any time or from time to time after the Series B Convertible Preferred Original Issue Date effect a subdivision of the outstanding Common Stock, the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the
Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately before that subdivision shall be proportionately decreased so that the number of shares of Common Stock issuable on conversion of each share of
such series shall be increased in proportion to such increase in the aggregate number of shares of Common Stock outstanding. If the Corporation shall at any time or from time to time after the Series B Convertible Preferred Original Issue Date
combine the outstanding shares of Common Stock, the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately
before the combination shall be proportionately increased so that the number of shares of Common Stock issuable on conversion of each share of such series shall be decreased in proportion to such decrease in the aggregate number of shares of Common
Stock outstanding. Any adjustment under this subsection shall become effective at the close of business on the date the subdivision or combination becomes effective. 

(vi) Adjustment for Certain Dividends and Distributions. In the event the Corporation at any time or from time to time
after the Series B Convertible Preferred Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable on the Common Stock in additional
shares of Common Stock, then and in each such event the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) in effect immediately
before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Series A Preferred Conversion Price (in the case of
the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) then in effect by a fraction: 

(A) the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the
time of such issuance or the close of business on such record date, and 
 (B) the denominator of which shall be the total
number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-21 

 Notwithstanding the foregoing (a) if such record date shall have been fixed and such
dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the
Series B Preferred Stock) shall be recomputed accordingly as of the close of business on such record date and thereafter the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price
(in the case of the Series B Preferred Stock) shall be adjusted pursuant to this subsection as of the time of actual payment of such dividends or distributions; and (b) no such adjustment shall be made if the holders of Convertible Preferred
Stock simultaneously receive a dividend or other distribution of shares of Series A Common Stock in a number equal to the number of shares of Series A Common Stock as they would have received if all outstanding shares of Convertible Preferred Stock
had been converted into Series A Common Stock on the date of such event. 
 (vii) Adjustments for Other Dividends and
Distributions. In the event the Corporation at any time or from time to time after the Series B Convertible Preferred Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to
receive, a dividend or other distribution payable in securities of the Corporation (other than a distribution of shares of Common Stock in respect of outstanding shares of Common Stock) or in other property and the provisions of Section
IV.3(a) do not apply to such dividend or distribution, then and in each such event the holders of Convertible Preferred Stock shall receive, simultaneously with the distribution to the holders of Common Stock a dividend or other distribution of
such securities or other property in an amount equal to the amount of such securities or other property as they would have received if all outstanding shares of Convertible Preferred Stock had been converted into Series A Common Stock on the date of
such event. 
 (viii) Adjustment for Merger or Reorganization, etc. If there shall occur any reorganization,
recapitalization, reclassification, consolidation or merger involving the Corporation in which the Common Stock (but not the Convertible Preferred Stock) is converted into or exchanged for securities, cash or other property (other than a transaction
covered by Section IV.3(d)(iv), (vi) or (vii)), then, following any such reorganization, recapitalization, reclassification, consolidation or merger, each share of Convertible Preferred Stock shall thereafter be convertible in
lieu of the Series A Common Stock into which it was convertible prior to such event into the kind and amount of securities, cash or other property which a holder of the number of shares of Series A Common Stock of the Corporation issuable upon
conversion of one share of Convertible Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, consolidation or merger would have been entitled to receive pursuant to such transaction; and, in such case,
appropriate adjustment (as determined in good faith by the Board of Directors) shall be made in the application of the provisions in this Section IV.3(d) with respect to 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-22 

 
the rights and interests thereafter of the holders of the Convertible Preferred Stock, to the end that the provisions set forth in this Section IV.3(d) (including provisions with respect
to changes in and other adjustments of the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock)) shall thereafter be applicable, as
nearly as reasonably may be, in relation to any securities or other property thereafter deliverable upon the conversion of the Convertible Preferred Stock. For the avoidance of doubt, nothing in this Section IV.3(d)(viii) shall be construed
as preventing the holders of Convertible Preferred Stock from seeking any appraisal rights to which they are otherwise entitled under the DGCL in connection with a merger triggering an adjustment hereunder, nor shall this Section
IV.3(d)(viii) be deemed conclusive evidence of the fair value of the shares of Convertible Preferred Stock in any such appraisal proceeding. 

(ix) Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Series A Preferred
Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) pursuant to this Section IV.3(d), the Corporation at its expense shall, as promptly as
reasonably practicable but in any event not later than 10 days thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of Convertible Preferred Stock a certificate setting forth such
adjustment or readjustment (including the kind and amount of securities, cash or other property into which the Convertible Preferred Stock is convertible) and showing in detail the facts upon which such adjustment or readjustment is based. The
Corporation shall, as promptly as reasonably practicable after the written request at any time of any holder of Convertible Preferred Stock (but in any event not later than 10 days thereafter), furnish or cause to be furnished to such holder a
certificate setting forth (i) the Series A Preferred Conversion Price (in the case of the Series A Preferred Stock) or the Series B Preferred Conversion Price (in the case of the Series B Preferred Stock) then in effect, and (ii) the
number of shares of Series A Common Stock and the amount, if any, of other securities, cash or property which then would be received upon the conversion of Convertible Preferred Stock. 

(x) Notice of Record Date. In the event: 

(A) the Corporation shall take a record of the holders of its Common Stock (or other capital stock or securities at the time
issuable upon conversion of the Convertible Preferred Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of capital stock of any class
or any other securities, or to receive any other security; or 
 (B) of any capital reorganization of the Corporation, any
reclassification of the Common Stock of the Corporation, or any Deemed Liquidation Event; or 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-23 

 (C) of the voluntary or involuntary dissolution, liquidation or winding-up of the Corporation, 
 then, and in each such case, the Corporation will send or cause to be
sent to the holders of the Convertible Preferred Stock a notice specifying, as the case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend, distribution or right, or (ii) the
effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up is proposed to take place, and the time, if any is to be fixed, as of
which the holders of record of Common Stock (or such other capital stock or securities at the time issuable upon the conversion of the Convertible Preferred Stock) shall be entitled to exchange their shares of Common Stock (or such other capital
stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up, and the amount per share
and character of such exchange applicable to the Convertible Preferred Stock and the Common Stock. Such notice shall be sent at least 10 days prior to the record date or effective date for the event specified in such notice. 

(e) Mandatory Conversion. 

(i) Trigger Events. Upon either (x) the closing of the sale of shares of Common Stock to the public at a price of
at least 1.25 times the Series A Preferred Original Issue Price (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Common Stock) with aggregate gross
proceeds, net of the underwriting discount and commissions, to the Corporation of not less than $100 million, in a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as
amended, or (y) the date and time, or the occurrence of an event, specified by vote or written consent of the holders of at least 75% of the then outstanding shares of Series A Preferred Stock and Series B Preferred Stock (with the shares of
Series A Preferred Stock and Series B Preferred Stock voting on an “as converted basis” as if such shares had been converted into Series A Common Stock pursuant to Section IV.3(d) (whether or not such shares of Series B Preferred
Stock are then convertible)) (the time of such closing, or the date and time specified or the time of the event specified in such vote or written consent is referred to herein as the “Mandatory Conversion Time”), then (A) upon
an event specified in clause (x) or (y) above, all outstanding shares of Series A Preferred Stock and Series B Preferred Stock shall automatically be converted into shares of Series A Common Stock, in each case at the then effective conversion
rate as calculated pursuant to Section IV.3(d)(i)(A) and (B) such shares of Series A Preferred Stock and Series B Preferred Stock converted pursuant to this Section IV.3(e)(i) may not be reissued by the Corporation. 

(ii) Procedural Requirements. All holders of record of shares of Series A Preferred Stock and Series B Preferred Stock
shall be sent written notice of the Mandatory Conversion Time and the place designated for mandatory conversion of 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-24 

 
all such shares of Series A Preferred Stock and Series B Preferred Stock pursuant to this Section IV.3(e). Such notice need not be sent in advance of the occurrence of
the Mandatory Conversion Time. Upon receipt of such notice, each holder of shares of Series A Preferred Stock and Series B Preferred Stock in certificated form shall surrender his, her or its certificate or certificates for all such shares (or, if
such holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation
on account of the alleged loss, theft or destruction of such certificate) to the Corporation at the place designated in such notice. If so required by the Corporation, any certificates surrendered for conversion shall be endorsed or accompanied by
written instrument or instruments of transfer, in form reasonably satisfactory to the Corporation, duly executed by the registered holder or by his, her or its attorney duly authorized in writing. All rights with respect to the Series A Preferred
Stock and Series B Preferred Stock converted pursuant to Section IV.3(e)(i), including the rights, if any, to receive notices and vote (other than as a holder of Series A Common Stock), will terminate at the Mandatory
Conversion Time (notwithstanding the failure of the holder or holders thereof to surrender any certificates at or prior to such time), except only the rights of the holders thereof, upon surrender of any certificate or certificates of such holders
(or lost certificate affidavit and agreement) therefor, to receive the items provided for in the next sentence of this Section IV.3(e)(ii). As soon as practicable after the Mandatory Conversion Time and, if applicable, the surrender of any
certificate or certificates (or lost certificate affidavit and agreement) for Series A Preferred Stock and Series B Preferred Stock, the Corporation shall (a) issue and deliver to such holder, or to his, her or its nominees, a notice of
issuance of uncertificated shares and may, upon written request, issue and deliver a certificate for the number of full shares of Common Stock issuable upon such conversion in accordance with the provisions hereof and (b) pay cash as provided
in Section IV.3(d)(ii) in lieu of any fraction of a share of Series A Common Stock and Series B Preferred Stock otherwise issuable upon such conversion and the payment of any declared but unpaid dividends on the shares of Series A Preferred
Stock and Series B Preferred Stock converted. Such converted Series A Preferred Stock and Series B Preferred Stock shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such
appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of Series A Preferred Stock and Series B Preferred Stock accordingly. 

(f) Redemption. 

(i) General. At any time after the ninety-first (91st) day after
the earlier of the maturity date of the Senior Notes (as defined below) (but only if all obligations under the Senior Notes have been repaid in full on such date) or the date the Senior Notes are no longer outstanding, and unless prohibited by
Delaware law governing distributions to stockholders, shares of Series B Preferred Stock may be redeemed by the Corporation, in its sole and absolute discretion, at a price equal to the Series B Original Issue Price per share (the
“Redemption Price”), and the date 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-25 

 
of such redemption shall be referred to as the “Redemption Date.” If on the Redemption Date Delaware law governing distributions to stockholders prevents the Corporation from
redeeming all shares of Series B Preferred Stock to be redeemed, the Corporation shall ratably redeem the maximum number of shares that it may redeem consistent with such law, and shall redeem the remaining shares as soon as it may lawfully do so
under such law. “Senior Notes” shall mean such notes set forth in the Indenture dated as of April 24, 2017, by and between the Corporation and Wilmington Trust, National Association, as Trustee and Collateral Trustee. 

(ii) Redemption Notice. The Corporation shall send written notice of the redemption (the “Redemption
Notice”) to each holder of record of Series B Preferred Stock not less than five (5) days prior to the Redemption Date. The Redemption Notice shall state: 

(A) the number of shares of Series B Preferred Stock held by the holder that the Corporation shall redeem on the Redemption
Date specified in the Redemption Notice; 
 (B) the Redemption Date and the Redemption Price; 

(C) the date upon which the holder’s right to convert such shares terminates (as determined in accordance with Section
IV.3(f)(iii)); and 
 (D) for holders of shares in certificated form, that the holder is to surrender to the
Corporation, in the manner and at the place designated, his, her or its certificate or certificates representing the shares of Series B Preferred Stock to be redeemed. 

(iii) Termination of Conversion Rights. In the event of a notice of redemption of any shares of Series B Preferred Stock
pursuant to Section IV.3(f)(ii), the Conversion Rights of the shares of Series B Preferred Stock designated for redemption shall terminate at the close of business on the last full day preceding the Redemption Date, unless
the Redemption Price is not fully paid on such Redemption Date, in which case the Conversion Rights for such shares of Series B Preferred Stock shall continue until such price is paid in full. 

(iv) Surrender of Certificates; Payment. On or before the Redemption Date, each holder of shares of Series B Preferred
Stock to be redeemed on the Redemption Date, unless such holder has exercised his, her or its right to convert such shares as provided in Section IV.3(d), shall, if a holder of shares in certificated form, surrender the certificate or
certificates representing such shares (or, if such registered holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation
against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate) to the Corporation, in the manner and at the place designated in the Redemption

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-26 

 
Notice, and thereupon the Redemption Price for such shares shall be payable to the order of the person whose name appears on such certificate or certificates as the owner thereof. In the event
less than all of the shares of Series B Preferred Stock represented by a certificate are redeemed, a new certificate, instrument, or book entry representing the unredeemed shares of Series B Preferred Stock shall promptly be issued to such holder.

 (v) Rights Subsequent to Redemption. If the Redemption Notice shall have been duly given, and if on the Redemption
Date the Redemption Price payable upon redemption of the shares of Series B Preferred Stock to be redeemed on the Redemption Date is paid or tendered for payment or deposited with an independent payment agent so as to be available therefor in a
timely manner, then notwithstanding that any certificates evidencing any of the shares of Series B Preferred Stock so called for redemption shall not have been surrendered, dividends with respect to such shares of Series B Preferred Stock shall
cease to accrue after the Redemption Date and all rights with respect to such shares shall forthwith after the Redemption Date terminate, except only the right of the holders to receive the Redemption Price without interest upon surrender of any
such certificate or certificates therefor. 
 (g) Redeemed or Otherwise Acquired Shares. Any shares of Series B
Preferred Stock that are redeemed or otherwise acquired by the Corporation or any of its subsidiaries shall be automatically and immediately cancelled and retired and shall not be reissued, sold or transferred. Neither the Corporation nor any of its
subsidiaries may exercise any voting or other rights granted to the holders of Series B Preferred Stock following redemption. 

(h) Series B Preferred Stock Protective Provisions. At any time when at least fifty (50) percent of the shares of
Series B Preferred Stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series B Preferred Stock) originally issued pursuant to the Series B
Subscription Agreement are outstanding, the Corporation shall not, either directly or indirectly, without (in addition to any other vote required by law or the Certificate of Incorporation) the written consent or affirmative vote of the holders of
at least fifty (50) percent of the then outstanding shares of Series B Preferred Stock, given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class, and any such act or transaction entered into
without such consent or vote shall be null and void ab initio, and of no force or effect: 
 (i) purchase, redeem or exchange
or retire for value (or permit any subsidiary to purchase, redeem, exchange or retire for value) any shares of capital stock of the Corporation; or 

(ii) pay or declare any dividend or make any distribution or payment on any shares of capital stock of the Corporation; 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-27 

 other than, in the case of clauses (i) and (ii), (x) redemptions of or dividends or
distributions on the Series B Preferred Stock or (y) conversion of the Convertible Preferred Stock, in each case as expressly authorized herein. 

ARTICLE V 
 ADDITIONAL
POWERS OF THE CORPORATION 
 Section V.1 In furtherance of and not in limitation of powers conferred by statute, it is further provided
that: 
 (a) subject to the limitations and exceptions, if any, contained in the
By-laws of the Corporation (the “By-laws”), the By-laws may be adopted, amended or repealed by the Board of
Directors; 
 (b) elections of directors need not be by written ballot; and 

(c) subject to any applicable requirements of law, the books of the Corporation may be kept outside the State of Delaware at
such location as may be designated by the Board of Directors or in the By-laws. 
 ARTICLE VI

 EXISTENCE 

Section VI.1 The Corporation is to have perpetual existence. 

ARTICLE VII 

INDEMNIFICATION 
 Section
VII.1 The Corporation shall indemnify and hold harmless, to the fullest extent not prohibited by the DGCL, each person (a “Covered Person”) who is or was made or is threatened to be made a party or is otherwise involved in any
action, suit or proceeding (each, a “proceeding”) by reason of the fact that he or she, or a person for whom he or she is the legal representative, is or was an executive officer or director of the Corporation, against all
liability, claims, damages, costs and losses suffered and expenses (including attorneys’ fees) reasonably incurred by such Covered Person. The Corporation may, in its sole and absolute discretion, indemnify such other persons as it may deem
desirable or necessary, to the fullest extent not prohibited by the DGCL. For purposes of this ARTICLE VII, each of the Chief Executive Officer, the President, the Chief Financial Officer, the Senior Vice Presidents, the Treasurer and the Secretary
of the Corporation shall be deemed to be an executive officer. 
 Section VII.2 The Corporation shall, to the fullest extent not prohibited
by the DGCL, pay the expenses, including attorneys’ fees, incurred by a Covered Person in defending any proceeding in advance of final disposition; provided, however, that to the extent required by the DGCL, such payment of
expenses in advance of the final disposition of the proceeding shall be made only upon receipt of an undertaking by the Covered Person to repay all amounts so advanced if it should ultimately be determined that the Covered Person is not entitled to
be indemnified under this ARTICLE VII or otherwise. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-28 

 Section VII.3 The rights conferred on any Covered Person pursuant to this ARTICLE VII shall
not be deemed exclusive of any other rights such Covered Person may have or hereafter be entitled under any statute, this Certificate of Incorporation, the By-laws, any agreement, any vote of stockholders or
disinterested directors or otherwise. 
 Section VII.4 The rights conferred on any Covered Person pursuant to this ARTICLE VII shall
continue as to a person who has ceased to be a Covered Person (or other person indemnified hereunder) and shall inure to the benefit of the heirs, executors, administrators, legatees and distributees of such person. 

Section VII.5 The Corporation shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer,
employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, against
any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person’s status as such, whether or not the Corporation would have the power to indemnify such person against such liability
under the provisions of this ARTICLE VII, the By-laws, the DGCL, or any other applicable law. 

Section VII.6 The provisions of this ARTICLE VII shall be a contract between the Corporation, on the one hand, and each Covered Person and any
other person entitled to indemnification hereunder, on the other hand, pursuant to which the Corporation and each such Covered Person or other person intend to be, and shall be, legally bound. No amendment, repeal or modification of this ARTICLE VII
shall affect any rights or obligations with respect to any state of facts then or theretofore existing or any proceeding theretofore or thereafter brought or threatened based in whole or in part upon any such state of facts. 

Section VII.7 If a claim for indemnification (following the final disposition of such action, suit or proceeding) or advancement of expenses
under this ARTICLE VII is not paid in full within thirty (30) days after a written claim therefor by the Covered Person has been received by the Corporation, the Covered Person may file suit to recover the unpaid amount of such claim and, if
successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim. In any such action, the Corporation shall have the burden of proving that the Covered Person is not entitled to the requested indemnification or
advancement of expenses under applicable law. 
 Section VII.8 The Corporation hereby acknowledges that the Investors (as defined in the
Second Amended & Restated Investors Agreement, dated as of November [•], 2017, by and among the Corporation and the stockholders of the Corporation party thereto (as amended from time to time, the “Investors
Agreement”)), the ECP Directors and the Non-ECP Directors (each as defined in the Investors Agreement) and their respective heirs or representatives (each, an “Indemnitee”) may have
certain rights to indemnification, advancement of expenses and/or insurance provided by or on behalf of the Investors or their affiliates (collectively, the “Indemnitors”) and that, notwithstanding anything to the contrary contained
herein (including as set forth in this ARTICLE VII): (i) the Corporation is the indemnitor of first resort and the Indemnitors are the indemnitors of last resort in connection with any claims for indemnification from the Indemnitees, (ii) the
Corporation will be required to advance the full amount of expenses incurred by each Indemnitee and will be liable for the full amount of all losses, judgments, 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-29 

 
penalties, fines and amounts paid in settlement to the extent legally permitted and as required by this ARTICLE VII without regard to any rights each Indemnitee may have against any particular
Indemnitor, and (iii) the Corporation irrevocably waives, relinquishes and releases the Indemnitors from any and all claims against the Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof.
Notwithstanding anything to the contrary herein, no advancement or payment by any Indemnitor on behalf of an Indemnitee with respect to any claim for which such Indemnitee has sought indemnification or advancement of expenses from the Corporation
will affect the foregoing and such Indemnitor will have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Indemnitee against the Corporation. The Indemnitees and
Indemnitors are express third party beneficiaries of the terms of this Section VII.8. 
 ARTICLE VIII 

LIMITATIONS ON LIABILITY 

Section VIII.1 No member of the Board of Directors shall be personally liable to the Corporation or its stockholders for monetary damages for
breach of fiduciary duty as a director, except, if required by the DGCL, for liability: (i) for any breach of the director’s duty of loyalty to the Corporation or its stockholders; (ii) for acts or omissions not in good faith or which
involve intentional misconduct or a knowing violation of law; (iii) under Section 174 of the DGCL; or (iv) for any transaction from which the director derived an improper personal benefit. If the DGCL or any other law of the State of
Delaware is amended after approval by the stockholders of this ARTICLE VIII to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation shall be eliminated or
limited to the fullest extent permitted by the DGCL as so amended. 
 Section VIII.2 Neither the amendment nor repeal of this ARTICLE VIII
shall eliminate or reduce the effect of this ARTICLE VIII in respect of any matter occurring, or any cause of action, suit or claim that, but for this ARTICLE VIII would accrue or arise, prior to such amendment or repeal. 

ARTICLE IX 
 CORPORATE
OPPORTUNITIES 
 Section IX.1 The Corporation renounces, to the fullest extent permitted by law, any interest or expectancy of the
Corporation in, or in being offered an opportunity to participate in, any Excluded Opportunity. An “Excluded Opportunity” is any matter, transaction or interest that is presented to, or acquired, created or developed by, or which
otherwise comes into the possession of (i) any director of the Corporation who is not an employee of the Corporation or any of its subsidiaries, or (ii) any holder of Convertible Preferred Stock or any of its affiliates or any of their
respective partners, members, managers, directors, equityholders, employees or agents, other than someone who is an employee of the Corporation or any of its subsidiaries (collectively, “Covered Persons”), unless such matter,
transaction or interest is presented to, or acquired, created or developed by, or otherwise comes into the possession of, a Covered Person expressly and solely in such Covered Person’s capacity as a director of the Corporation. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-30 

 ARTICLE X 

AMENDMENT 
 Section X.1 The
Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by statute, and this Certificate of Incorporation and all rights conferred upon
stockholders herein are granted subject to this reservation. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-31 

 Annex B 

Investor Agreement 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 A-1 

 SECOND AMENDED AND RESTATED 

INVESTORS AGREEMENT 
 Dated
as of November 9, 2017 
 by and among 

SUNNOVA ENERGY CORPORATION 

and 
 THE OTHER PARTIES HERETO

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
	 ARTICLE I CERTAIN DEFINED TERMS
	  	 	2	 
		
	 ARTICLE II REPRESENTATIONS AND WARRANTIES
	  	 	12	 
	 Section 2.1
	  	Investor Representations and Warranties	  	 	12	 
		
	 ARTICLE III GENERAL RESTRICTIONS ON DISPOSITION OF SUNNOVA SECURITIES
	  	 	12	 
	 Section 3.1
	  	Transfer of Securities	  	 	12	 
	 Section 3.2
	  	Transfer Notice	  	 	13	 
	 Section 3.3
	  	Legending Requirement	  	 	13	 
	 Section 3.4
	  	Right of First Offer	  	 	14	 
	 Section 3.5
	  	Drag-Along Right	  	 	16	 
	 Section 3.6
	  	Tag-Along Right	  	 	17	 
	 Section 3.7
	  	Cooperation	  	 	18	 
	 Section 3.8
	  	Right to Public Offering	  	 	20	 
		
	 ARTICLE IV PREEMPTIVE RIGHTS
	  	 	21	 
	 Section 4.1
	  	Sale of Securities	  	 	21	 
	 Section 4.2
	  	Exempt Securities	  	 	23	 
		
	 ARTICLE V RIGHTS TO REPURCHASE SHARES
	  	 	24	 
	 Section 5.1
	  	Call Right	  	 	24	 
	 Section 5.2
	  	Involuntary Transfers	  	 	25	 
	 Section 5.3
	  	Repurchase Disability	  	 	27	 
	 Section 5.4
	  	Set-Off	  	 	28	 
		
	 ARTICLE VI BOARD OF DIRECTORS
	  	 	28	 
	 Section 6.1
	  	Size of the Board	  	 	28	 
	 Section 6.2
	  	Composition of the Board	  	 	29	 
	 Section 6.3
	  	Board Observers	  	 	30	 
	 Section 6.4
	  	Vacancies; Removal	  	 	31	 
	 Section 6.5
	  	Expenses	  	 	31	 
	 Section 6.6
	  	Confidentiality Duties	  	 	32	 
	 Section 6.7
	  	No Liability for Election of Recommended Directors	  	 	32	 
	 Section 6.8
	  	Reserved Board Decisions	  	 	32	 
	 Section 6.9
	  	Reserved Investor Decisions	  	 	33	 
	 Section 6.10
	  	Vote to Increase Authorized Common Stock	  	 	34	 
		
	 ARTICLE VII COVENANTS OF THE COMPANY
	  	 	34	 
	 Section 7.1
	  	Information Rights	  	 	34	 
	 Section 7.2
	  	Inspection Rights	  	 	35	 
	 Section 7.3
	  	Budget Process	  	 	35	 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 i 

							
	 ARTICLE VIII CERTAIN TAX MATTERS
	  	 	35	 
	 Section 8.1
	  	Certain Tax Matters	  	 	35	 
		
	 ARTICLE IX TERMINATION OF AGREEMENT
	  	 	36	 
	 Section 9.1
	  	Events of Termination	  	 	36	 
	 Section 9.2
	  	Transfer of All Securities	  	 	36	 
		
	 ARTICLE X MISCELLANEOUS PROVISIONS
	  	 	36	 
	 Section 10.1
	  	Entire Agreement	  	 	36	 
	 Section 10.2
	  	Successors and Assigns	  	 	37	 
	 Section 10.3
	  	Amendments; Waivers	  	 	37	 
	 Section 10.4
	  	Notices	  	 	37	 
	 Section 10.5
	  	Equitable Remedies	  	 	38	 
	 Section 10.6
	  	Confidentiality	  	 	38	 
	 Section 10.7
	  	Public Announcements	  	 	39	 
	 Section 10.8
	  	Governing Law; Jurisdiction	  	 	40	 
	 Section 10.9
	  	WAIVER OF JURY TRIAL	  	 	40	 
	 Section 10.10
	  	No Third Party Beneficiaries	  	 	40	 
	 Section 10.11
	  	No Voting Trusts	  	 	40	 
	 Section 10.12
	  	Further Assurances	  	 	41	 
	 Section 10.13
	  	Titles and Subtitles	  	 	41	 
	 Section 10.14
	  	Other Interpretive Matters	  	 	41	 
	 Section 10.15
	  	Severability	  	 	41	 
	 Section 10.16
	  	Spousal Consent	  	 	41	 
	 Section 10.17
	  	Attorneys’ Fees	  	 	41	 
	 Section 10.18
	  	Delays or Omissions	  	 	41	 
	 Section 10.19
	  	Opportunities	  	 	42	 
	 Section 10.20
	  	Employment Rights	  	 	42	 
	 Section 10.21
	  	Offsets	  	 	42	 
	 Section 10.22
	  	Counterparts and Signatures	  	 	42	 
	 Section 10.23
	  	Effectiveness	  	 	43	 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 ii 

 SECOND AMENDED AND RESTATED INVESTORS AGREEMENT 

THIS SECOND AMENDED AND RESTATED INVESTORS AGREEMENT (as amended, supplemented and/or restated from time to time, this
“Agreement”) is entered into as of November 9, 2017 (the “Effective Date”) by and among Sunnova Energy Corporation, a Delaware corporation (the “Company”), the stockholders of the Company
listed on Schedule I, and each other Person (as defined below) who executes a Joinder Agreement (as defined below) from time to time. 

RECITALS 
 WHEREAS,
each Preferred Stock Investor (as defined below) party hereto holds Preferred Stock (as defined below) in the respective amounts set forth opposite such Preferred Stock Investor’s name on Schedule I; 

WHEREAS, certain employees, consultants and directors of the Company or one or more Subsidiaries (each, a “Management
Investor”) currently hold shares of Series A Common Stock (as defined below); 
 WHEREAS, the Company has issued or may
hereafter issue to certain Management Investors shares of Series B Common Stock (as defined below) as a result of the exercise by such Management Investors of vested Options (as defined below) (“Vested Options”); 

WHEREAS, the Company and the then holders of its Preferred Stock and Common Stock (as defined below) previously entered into that
certain Investors Agreement, dated as of March 16, 2016 (the “Original Agreement”), setting forth certain rights and restrictions with respect to the Sunnova Securities (as defined below); 

WHEREAS, the Company and the then holders of its Preferred Stock and Common Stock previously entered into that certain Amended and
Restated Investors Agreement, dated as of April 26, 2016 (the “First Amended and Restated Agreement”), setting forth certain rights and restrictions with respect to the Sunnova Securities; 

WHEREAS, in connection with the offering and issuance of a new series of Preferred Stock to the Principal Investors (as defined below),
the Company and the Principal Investors wish to amend and restate the First Amended and Restated Agreement in its entirety as set forth herein effective as of the Effective Date. 

NOW THEREFORE, in consideration of the mutual covenants and agreements of the parties hereto, and of the mutual benefits to be gained
by the performance thereof, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties for themselves, and their heirs, executors, administrators, successors and assigns, do hereby
covenant and agree as follows: 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 ARTICLE I 

CERTAIN DEFINED TERMS 
 As
used in this Agreement, the following terms have the following meanings: 
 “Additional Election Amount” has the meaning
set forth in Section 4.1(b). 
 “Affiliate” means, with respect to any specified Person, any
other Person who, directly or indirectly, controls, is controlled by, or is under common control with such Person, including, without limitation, any general partner, managing member, officer or director of such Person or any venture capital or
private equity fund now or hereafter existing that is controlled by one or more general partners or managing members of, or shares the same management company with, such Person, which with respect to the Company shall include, but not be limited to,
the Subsidiaries. For purposes of this Agreement, (i) “Affiliates” of GSO Funds shall (x) include any funds managed, advised or sub-advised by GSO Capital Partners LP or any of its Affiliates
and (y) exclude any portfolio companies in which any funds managed, advised or sub-advised by GSO Capital Partners LP or any of its Affiliates have invested and (ii) “Affiliates” of the ECP
Investors shall (x) include any funds managed, advised or sub-advised by Energy Capital Partners III, LLC or any of its Affiliates and (y) exclude any portfolio companies in which any funds managed,
advised or sub-advised by Energy Capital Partners III, LLC or any of its Affiliates have invested. 

“Agreement” has the meaning set forth in the Caption. 

“as-converted basis” means, when used with respect to the Series A Common Stock,
those shares of Series A Common Stock that would be outstanding after the conversion of all Preferred Stock (assuming all such Preferred Stock is then convertible). 

“Bankruptcy” means, with respect to a Person, (i) the entry of a decree or order for relief against such Person by a
court of competent jurisdiction in any involuntary case brought against such Person under any Debtor Relief Laws, (ii) the appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator or other similar agent under applicable
Debtor Relief Laws for such Person or for any substantial part of its assets or property, (iii) the ordering of the winding up or liquidation of such Person’s affairs, (iv) the filing of a petition in any such involuntary bankruptcy
case, which petition remains undismissed for a period of 60 days or which is not dismissed or suspended pursuant to Section 305 of the Federal Bankruptcy Code (or any corresponding provision of any future United States bankruptcy law), (v) the
commencement by such Person of a voluntary case under any applicable Debtor Relief Law now or hereafter in effect, (vi) the consent by such Person to the entry of an order for relief in an involuntary case under any Debtor Relief Law or to the
appointment of or the taking of possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar agent under any applicable Debtor Relief Law for such Person or for any substantial part of its assets or property or
(vii) the making by such Person of any general assignment for the benefit of its creditors. 
 “Board” means the Board
of Directors of the Company. 
 “Board Adjustment Event” has the meaning set forth in
Section 6.2(a)(ii). 
 “Board Supermajority” has the meaning set forth in
Section 6.8. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 2 

 “Business Day” means any day of the year on which national banking
institutions in Houston, Texas are open to the public for conducting business and are not required or authorized to close. 
 “Call
Notice” has the meaning set forth in Section 5.1(a). 
 “Call Repurchase Price” has the
meaning set forth in Section 5.1(a). 
 “Call Right” has the meaning set forth in
Section 5.1(a). 
 “Cause” has the meaning set forth in the employment agreement, if any, between
a Management Investor and the Company, or, if there is not such agreement, means, with respect to any Management Investor (i) such Management Investor’s willful failure to substantially perform such Management Investor’s material
duties (other than any such failure resulting from such Management Investor’s Disability), (ii) such Management Investor’s willful failure to carry out, or comply with, in any material respect, any lawful and reasonable directive of the
Board, (iii) such Management Investor’s commission at any time of any act or omission that results in, or may reasonably be expected to result in, a conviction, plea of no contest, plea of nolo contendere or imposition of unadjudicated
probation for any felony or crime involving moral turpitude, excluding driving or traffic-related felonies, (iv) such Management Investor’s indictment for any driving or traffic-related felony where the effect of such indictment is
materially adverse to the Company or its operations, reputation or conditions, (v) such Management Investor’s unlawful use (including being under the influence) or possession of illegal drugs on the Company’s premises or while
performing such Management Investor’s duties and responsibilities, (vi) such Management Investor’s commission at any time of any act of fraud, embezzlement, misappropriation, material misconduct, conversion of assets of the Company or
breach of fiduciary duty against the Company (or any predecessor thereto or successor thereof) or (vii) such Management Investor’s material breach of this Agreement, any employment agreement or offer letter executed by each of such
Management Investor and the Company or any equity award agreement between such Management Investor and the Company; and which, in the case of clauses (i), (ii) and (vii), continues beyond thirty (30) days after the Company has provided such
Management Investor written notice of such failure or breach (to the extent that, in the reasonable judgment of the Board, such failure or breach can be cured by such Management Investor). For purposes of this definition, the term
“Company” shall mean Sunnova Energy Corporation and any of its Subsidiaries or Affiliates as may employ the Management Investor from time to time, and any successor(s) thereto. Whether or not an event giving rise to “Cause”
occurs will be determined by the Board. 
 “Code” means the United States Internal Revenue Code of 1986, as amended. 

“Commencement Date” has the meaning set forth in Section 3.4(h)(i). 

“Common Stock” means the Series A Common Stock and the Series B Common Stock. 

“Company” has the meaning set forth in the Caption. 

“Confidential Information” has the meaning set forth in Section 10.6. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 3 

 “Debtor Relief Laws” means any bankruptcy, insolvency or other similar law,
including any solvency action brought by the State of Texas, generally affecting the rights of creditors and relief of debtors now or hereafter in effect. 

“Disability” has the meaning set forth in the employment agreement, if any, between a Management Investor and the Company,
or, if there is not such agreement, means, with respect to any Management Investor, such Management Investor’s inability to engage in any substantial gainful activity, even with reasonable accommodation, by reason of any medically determinable
physical or mental impairment that can be expected to result in death or that can be expected to last for a continuous period of not less than twelve (12) months. 

“Disability Notice” has the meaning set forth in Section 5.3(b). 

“Drag-Along Investors” has the meaning set forth in Section 3.5(a). 

“Drag-Along Notice” has the meaning set forth in Section 3.5(a). 

“Drag-Along Right” has the meaning set forth in Section 3.5(a). 

“Drag-Along Sale” has the meaning set forth in Section 3.5(a). 

“Drag Breach Notice” has the meaning set forth in Section 3.5(a). 

“Drag Breaching Investor” has the meaning set forth in Section 3.5(a). 

“ECP Call Right” has the meaning set forth in Section 5.1(c). 

“ECP Involuntary Transfer Repurchase Right” has the meaning set forth in Section 5.2(c). 

“ECP Director” has the meaning set forth in Section 6.2(a)(i)(1). 

“ECP Investors” means Energy Capital Partners III, LP, Energy Capital Partners III-A,
LP, Energy Capital Partners III-B, LP, Energy Capital Partners III-C, LP, Energy Capital Partners III-D, LP, Energy Capital
Partners III (Sunnova Co-Invest), LP and any Affiliated funds thereof. 
 “ECP
Representative” means Energy Capital Partners GP III, LP, a Delaware limited partnership, or, upon written notice to the Company from the ECP Investors, any other Person appointed in lieu of Energy Capital Partners GP III, LP (or any
subsequent ECP Representative) to be the “ECP Representative” by the ECP Investors. 
 “Election Notice” has the
meaning set forth in Section 4.1(b). 
 “Election Period” has the meaning set forth in
Section 4.1(b). 
 “Eligible Shares” has the meaning set forth in
Section 5.1(c). 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 4 

 “Entity” means any association, corporation, general partnership, limited
partnership, limited liability company, joint stock association, joint venture, firm, trust, business trust, cooperative and foreign associations of like structure. 

“Equity Incentive Plan” means any stock option, stock issuance, stock appreciation rights, restricted stock, phantom stock,
stock purchase plan or other equity incentive plan for the directors, officers and/or employees of, and/or consultants to, the Company and/or its Subsidiaries. 

“Estate” means and includes the executors or administrators of a deceased Investor, and any and all Persons who may claim any
interest in the Investor’s property under such deceased Investor’s will or by virtue of any laws of descent and distribution. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “Exempt Securities” has the meaning set forth in Section 4.2. 

“Exempt Transfer” has the meaning set forth in Section 3.1(b). 

“Fair Market Value” of Common Stock, as of any date of determination, shall be determined by the Board as follows: 

(i) if the Common Stock is listed on one or more national securities exchanges registered with the U.S. Securities and Exchange Commission
under Section 6 of the Exchange Act, each share of Common Stock to be repurchased shall be valued at the closing price of a share of Common Stock on the principal exchange on which the shares are then trading on the most recent trading day
preceding such date of determination; or 
 (ii) if the Common Stock is not publicly traded on a national securities exchange registered with
the U.S. Securities and Exchange Commission under Section 6 of the Exchange Act, the Fair Market Value of the Common Stock to be repurchased shall be reasonably determined in good faith by the Board. 

“Financing Documents” has the meaning set forth in Section 5.3(a)(iii). 

“First Amended and Restated Agreement” has the meaning set forth in the recitals. 

“GAAP” means generally accepted accounting principles as in effect from time to time. 

“Gain” has the meaning set forth in Section 5.4. 

“Governmental Authority” means any domestic or foreign government or political subdivision thereof, whether on a
transnational, federal, state or local level and whether executive, legislative or judicial in nature, including any agency, authority, board, bureau, commission, court, department or other instrumentality thereof. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 5 

 “GSO Funds” means FS Investment Corporation, a Maryland corporation, FS
Investment Corporation II, a Maryland corporation, FS Investment Corporation III, a Maryland corporation, FS Energy and Power Fund, a Delaware statutory trust, and each of their respective Subsidiaries. 

“Initial Closing” has the meaning set forth in the Purchase and Exchange Agreement. 

“Investors” means all Persons who hold issued and outstanding Sunnova Securities and who have executed this Agreement or a
Joinder Agreement. 
 “Involuntary Transfer” has the meaning set forth in Section 5.2(a). 

“Involuntary Transfer Notice” has the meaning set forth in Section 5.2(a). 

“Involuntary Transfer Repurchase Notice” has the meaning set forth in Section 5.2(b). 

“Involuntary Transfer Repurchase Price” has the meaning set forth in Section 5.2(b). 

“Involuntary Transfer Repurchase Right” has the meaning set forth in Section 5.2(b). 

“Involuntary Transferee” has the meaning set forth in Section 5.2(a). 

“IPO Investors” has the meaning set forth in Section 3.8(a). 

“IPO Notice” has the meaning set forth in Section 3.8(c). 

“Joinder Agreement” means a Joinder Agreement substantially in the form attached hereto as Exhibit A. 

“Lien” means any security interest, lien, pledge, claim, charge, escrow, encumbrance, option, right of first offer, right of
first refusal, preemptive right, mortgage, indenture, security agreement or other similar agreement, arrangement, contract, commitment, understanding or obligation whether written or oral and whether or not relating in any way to credit or the
borrowing of money. 
 “Lock-up Expiration Date” has the meaning set forth in
Section 3.1(a). 
 “Management Investor” has the meaning set forth in the recitals. 

“New Interest” has the meaning set forth in Section 4.1(a). 

“Non-ECP Director” has the meaning set forth in
Section 6.2(a)(i)(2). 
 “Non-ECP Investors” means all
Investors other than the ECP Investors. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 6 

 “Non-ECP Lead Investor Group” means
Triangle Peak Partners II, LP, SEIS Holdings LLC and MTP Energy Master Fund Ltd. 
 “Notice” has the meaning set forth in
Section 10.4. 
 “Observer” has the meaning set forth in Section 6.3.

 “Offer” means a bona fide, arms’ length written offer from a Person other than the Company or an Affiliate of the
Transferring Investor. 
 “Offer Period” has the meaning set forth in Section 3.4(b). 

“Offered Securities” has the meaning set forth in Section 3.2. 

“Offeror” means any Person who has made an Offer to a Transferring Investor to purchase any Sunnova Securities owned by such
Transferring Investor. 
 “Option” means an option to purchase Series B Common Stock issued to a Management Investor
pursuant to an Equity Incentive Plan. 
 “Original Agreement” has the meaning set forth in the recitals. 

“Original Agreement Date” means March 16, 2016. 

“Other Investments” has the meaning set forth in Section 10.19. 

“Permitted Transferee” means, (i) in the case of an Investor who is a natural Person, (a) an Investor’s Estate
and heirs, (b) any estate planning trust of an Investor or such Investor’s Permitted Transferee provided that the Investor is the trustee of such trust, (c) such other personal estate or tax planning vehicle or device of which the
Investor is the controlling Person with respect to the voting and the disposition of the Sunnova Securities held thereby or (d) pursuant to those certain Amended and Restated Pledge and Security Agreements entered into by and between certain
employees of the Company and Greenway LoanCo, LLC, dated as of even date herewith, and (ii) in the case of an Investor that is not a natural Person, (a) any wholly owned Subsidiary of such Investor, (b) any Entity of which such
Investor is a wholly owned Subsidiary (each an “Investor’s Parent”), (c) any Entity which is a wholly owned Subsidiary of such Investor’s Parent, and (d) any Entity controlled or managed by the Person(s) directly or
indirectly controlling or managing such Investor or an Affiliate of such managing or controlling Person, but in any event excluding any portfolio companies. For purposes of the foregoing clause (d), a Person has the ability to control or manage
another Person if such first Person (A) is the sole general partner of such second Person, (B) has the right (by contract or by law) to designate for election a majority of the members on the board of directors, board of managers or
similar governing body of such second Person or (C) has the right to manage such second Person pursuant to a management agreement, investment advisory agreement or similar agreement. Notwithstanding the foregoing, with respect to any Person set
forth in clause (ii) of this definition, such Person shall not be a Permitted Transferee if any Transfer to such Person requires the consent, approval, order or authorization of any regulatory body under applicable law or any third party. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 7 

 “Person” means any individual or Entity. 

“Preemptive Right” has the meaning set forth in Section 4.1(a). 

“Preemptive Right Closing Date” has the meaning set forth in Section 4.1(d). 

“Preemptive Right Election Amount” has the meaning set forth in Section 4.1(b). 

“Preemptive Right Notice” has the meaning set forth in Section 4.1(b). 

“Preemptive Right Participating Principal Investor” has the meaning set forth in Section 4.1(c).

 “Preferred Stock” means the Series A Convertible Preferred Stock and the Series B Convertible Preferred Stock of the
Company, as more fully described in the Restated Certificate. 
 “Preferred Stock Investor” means any Person who holds
Preferred Stock. 
 “Principal Investor” means any Investor that owns Convertible Preferred Stock or Series A Common Stock.
With respect to any Principal Investor who is also a Management Investor, he or she will only be considered a Principal Investor with respect to his or her Series A Common Stock. 

“Proportionate Percentage” means, (i) for purposes of Section 3.4, the fraction, expressed as a
percentage, the numerator of which is the total number of shares of Series A Common Stock held by the applicable Principal Investor (calculated on a fully-diluted as-converted basis) and the denominator of
which is the total number of shares of Series A Common Stock held by all Principal Investors other than the Transferring Investor (calculated on a fully-diluted as-converted basis), (ii) for purposes of
Section 3.6, the fraction, expressed as a percentage, the numerator of which is the total number of shares of Series A Common Stock and Series B Common Stock being purchased from the Transferring Investor (calculated on a
fully-diluted as-converted basis), and the denominator of which is the total number of shares of Series A Common Stock and Series B Common Stock held by the Transferring Investor (calculated on a fully-diluted
as-converted basis) and (iii) for purposes of Article IV, the fraction, expressed as a percentage, the numerator of which is the total number of shares of Series A Common Stock held by the
applicable Investor (calculated on a fully-diluted as-converted basis) and the denominator of which is the total number of shares of Series A Common Stock then outstanding (calculated on a fully-diluted as-converted basis). 
 “Public Sale” means any sale of Common Stock pursuant to a public
offering registered under applicable securities laws. 
 “Purchase and Exchange Agreement” means that certain Purchase and
Exchange Agreement, dated as of March 16, 2016, by and among the Company and the other parties thereto, as amended, supplemented and/or restated from time to time. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 8 

 “Qualified Public Offering” means any sale of Common Stock pursuant to an
underwritten public offering registered under applicable securities laws (i) for which the aggregate gross cash proceeds to be received by the Company from such offering (without deducting underwriting discounts, expenses and commissions) are
at least $100,000,000 at a per share public offering price of at least $6.6558 (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or similar recapitalization affecting any shares of Common Stock) and
(ii) pursuant to which the Common Stock is listed for trading on the New York Stock Exchange, the Nasdaq Global Select Market or the Nasdaq Global Market. 

“Registration Rights Agreement” has the meaning set forth in Section 3.8(a). 

“Reinstatement Notice” has the meaning set forth in Section 5.3(b). 

“Renounced Business Opportunities” has the meaning set forth in Section 10.19. 

“Representatives” has the meaning set forth in Section 10.6. 

“Repurchase Deadline” has the meaning set forth in Section 5.1(a). 

“Repurchase Disability” has the meaning set forth in Section 5.3(a). 

“Required IPO” has the meaning set forth in Section 3.8(a). 

“Required IPO Structure” has the meaning set forth in Section 3.8(b). 

“Requisite Investors” means Investors holding at least 75% of the outstanding Series A Common Stock on a fully-diluted as-converted basis at the time of determination. 
 “Restated Bylaws” means the Amended
and Restated Bylaws of the Company dated as of the Original Agreement Date, as amended, restated or supplemented from time to time. 

“Restated Certificate” means the Fifth Amended and Restated Certificate of Incorporation of the Company, dated as of
November 9, 2017, as amended, restated or supplemented from time to time. 
 “Restrictive Covenants” has the meaning
set forth in Section 5.1(a). 
 “ROFO Offer” has the meaning set forth in
Section 3.4(b). 
 “Russell Gordy Investors” means Minion Trail Ltd. and Elk Mountain, Ltd. 

“Sale of the Company” means (a) any sale (in one or a series of related transactions) of the equity of the Company
following which any Person (or group of Persons acting in concert), other than the Investors on the date of this Agreement and their Permitted Transferees, beneficially owns, directly or indirectly, a majority of the combined voting power of the
outstanding voting securities of the Company, (b) any sale (in one or a series of related transactions) of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole or (c) any plan of reorganization,
recapitalization, merger or consolidation involving the Company or any of its Subsidiaries, except for a reorganization, recapitalization, merger or consolidation where the Investors on the date of this Agreement and their Permitted Transferees
collectively beneficially own, directly or indirectly, a majority of the combined voting power of the outstanding voting securities of the company resulting from such reorganization, recapitalization, merger or consolidation. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 9 

 “Secondary PSA” has the meaning set forth in the recitals. 

“Securities” means, with respect to any Person, such Person’s capital shares or other equity interests or any options,
warrants or other securities that are directly or indirectly convertible into, or exercisable or exchangeable for, such Person’s capital shares or other equity or equity-linked interests, including phantom shares and share appreciation rights.

 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 “Series A Common Stock” means the voting Series A Common Stock of the Company, as more fully described in the Restated
Certificate. 
 “Series B Common Stock” means the non-voting Series B Common Stock
of the Company, as more fully described in the Restated Certificate. 
 “Spousal Consent” has the meaning set forth in
Section 10.16. 
 “Subsidiary” means with respect to any Person, any Entity in which such Person,
directly or indirectly (including, without limitation through one or more Subsidiaries), (a) holds stock or other ownership interests representing more than fifty percent (50%) of the economic interest of all outstanding stock or ownership interests
of such Entity or (b) has the right to control such Entity. The term “control,” as used in the immediately preceding sentence, means the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of the controlled Entity. For purposes of this Agreement, the Subsidiaries of the Company as of the date hereof include, without limitation, each of Sunnova Intermediate Holdings, LLC, Sunnova Energy Yield GP, LLC, Sunnova
Energy Yield LP, Sunnova Management, LLC, Sunnova TE Management I, LLC, Sunnova SSA Management, LLC, Sunnova SLA Management, LLC, Sunnova ABS Holdings, LLC, Sunnova ABS Management, LLC, Sunnova Energy Puerto Rico, LLC, Sunnova Asset Portfolio 4,
LLC, Sunnova Lease Vehicle 3, LLC, Sunnova Lease Vehicle 3-BG, LLC, Sunnova Leave Vehicle 3-HI, LLC, Sunnova Asset Portfolio 5 Holdings, LLC, Sunnova Asset Portfolio 5,
LLC, Sunnova AP5-A, LLC, Helios Depositor, LLC, Helios Issuer, LLC, Sunnova Asset Portfolio 6 Holdings, LLC, Sunnova Asset Portfolio 6, LLC, Sunnova AP 6 Warehouse II, LLC, Sunnova Asset Portfolio 7 Holdings,
LLC, Sunnova EZ-Own Portfolio, LLC, Sunnova LAP Holdings, LLC, Sunnova LAP I, LLC, Sunnova LAP II, LLC, Sunnova TEP I Developer, LLC, Sunnova TEP I Holdings, LLC, Sunnova SAP I, LLC, Sunnova TEP I Manager, LLC
and Sunnova TEP I, LLC, Sunnova Helios II Issuer, LLC and Sunnova Helios II Depositor, LLC. 
 “Sunnova Securities” means
any Securities of the Company. 
 “Supplemental Preemptive Notice” has the meaning set forth in
Section 4.1(c). 
 “Tag-Along Investor” has the meaning
set forth in Section 3.6(a). 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 10 

 “Tag-Along Notice” has the meaning
set forth in Section 3.6(a). 
 “Tag-Along Right” has the
meaning set forth in Section 3.6(a). 
 “Tag-Along Sale”
has the meaning set forth in Section 3.6(a). 
 “Tag-Along
Securities” has the meaning set forth in Section 3.6(a). 
 “Termination of Employment”
means, with respect to any Management Investor, the time when the employee-employer relationship between such Management Investor and the Company or one of its Subsidiaries is terminated for any reason, with or without Cause, including, but not by
way of limitation, a termination by resignation, discharge, Disability, death or retirement, but excluding a termination where there is a simultaneous re-employment by the Company or one of its Subsidiaries.
The committee appointed to administer the Equity Incentive Plan (or the Board) shall determine the effect of all matters and questions relating to Termination of Employment, including, but not by way of limitation, all questions of whether a
particular leave of absence constitutes a Termination of Employment. Termination of Employment. 
 “Third Party Offering
Period” has the meaning set forth in Section 4.1(e). 
 “Transaction Agreements” means
this Agreement and the Registration Rights Agreement. 
 “Transfer” means any direct or indirect transfer, assignment,
pledge, encumbrance, hypothecation or similar disposition of, either voluntarily or involuntarily, by operation of law or otherwise, or entrance into any contract, option or other arrangement or understanding with respect to the sale, transfer,
assignment, pledge, encumbrance, hypothecation or similar disposition of, any Sunnova Securities owned by a Person, or of any beneficial or economic interest therein. 

“Transfer” when used as a verb shall have a correlative meaning. 

“Transferor” and “Transferee” mean a Person who makes or receives a Transfer, respectively. 

“Transfer Notice” has the meaning set forth in Section 3.2. 

“Transferring Investor” has the meaning set forth in Section 3.2. 

“Unsubscribed Amount” has the meaning set forth in Section 4.1(c). 

“Vested Options” has the meaning set forth in the recitals. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 11 

 ARTICLE II 

REPRESENTATIONS AND WARRANTIES 

Section 2.1 Investor Representations and Warranties. Each of the Investors represents and warrants, severally and not jointly, to
each of the other Investors and to the Company that: 
 (a) Organization and Standing. If the Investor is an Entity, the Investor has
been duly formed, organized or incorporated, as applicable, and is duly organized, validly existing and in good standing under the laws of its jurisdiction of formation, organization or incorporation, as applicable. 

(b) Authority; Execution and Delivery; Enforceability. Each Investor has full power and authority to enter into the Transaction
Agreements to which it is a party. The execution and delivery by the Investor of the Transaction Agreements to which it is a party has been duly authorized by all necessary action. If the Investor is an Entity, all action on the part of the officers
of Investor necessary for the execution and delivery of the Transaction Agreements to which the Investor is a party and the performance of all obligations of the Investor under the Transaction Agreements to which the Investor is a party to be
performed as of the Effective Date has been taken or will be taken prior to the Effective Date. The Transaction Agreements to which the Investor is a party, when executed and delivered by the Investor and all other signatories thereto in accordance
with the terms thereof, shall constitute the valid and legally binding obligations of the Investor, enforceable against it in accordance with their terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance or other laws of general application relating to or affecting the enforcement of creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other
equitable remedies. 
 ARTICLE III 

GENERAL RESTRICTIONS ON DISPOSITION OF SUNNOVA SECURITIES 

Section 3.1 Transfer of Securities. 

(a) Except for Transfers to Permitted Transferees or Transfers by Principal Investors pursuant to a Public Sale, no Investor shall Transfer
Common Stock, Preferred Stock or other Sunnova Securities prior to the second (2nd) anniversary of the Original Agreement Date (the “Lock-up
Expiration Date”) without the prior affirmative vote of a Board Supermajority. 
 (b) After the
Lock-up Expiration Date, no Investor shall Transfer any Sunnova Securities except pursuant to (i) in the case of Principal Investors, a Public Sale, (ii) a Transfer to a Permitted Transferee,
(iii) in the case of Principal Investors, a Transfer which has complied with Sections 3.2, 3.4, 3.5 and 3.6 or (iv) a right or obligation of a Drag-Along Investor or
Tag-Along Investor under Sections 3.5 and 3.6 (each of the foregoing other than clause (iii), an “Exempt Transfer”). 

(c) The provisions of this Agreement shall be binding upon all Sunnova Securities now owned or hereafter acquired by each Investor and shall be
binding upon all subsequent holders of Sunnova Securities who execute a Joinder Agreement or execute a counterpart signature page to this Agreement. Except for Transfers that constitute Public Sales,

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 12 

 
neither the Company nor any Investor shall Transfer any Sunnova Securities to a Person not already a party to this Agreement as an Investor (including Permitted Transferees) unless and until
(i) such Person executes and delivers to the Company a Joinder Agreement or counterpart signature page to this Agreement pursuant to which such Person will thereupon become a party to, and be bound by and obligated to comply with the terms and
provisions of, this Agreement and (ii) such Transfer is otherwise made in compliance with this Agreement. Upon the execution of Joinder Agreement or counterpart signature page to this Agreement, a Transferee of a Management Investor shall be
deemed to be a Management Investor for all purposes of this Agreement except that, (A) in the case of a Transfer to a Permitted Transferee, all provisions that relate to Termination of Employment of a Management Investor and the effects thereof
shall continue to apply to such Management Investor transferor and not to such Permitted Transferee and (B) in the case of a Transfer to a Person other than a Permitted Transferee, Article V of this Agreement shall cease to apply
following such Transfer (other than Section 5.1(b), which shall continue to apply). 
 (d) Any attempted Transfer
of Sunnova Securities other than in accordance with this Agreement shall be null and void and the Company shall not recognize any such Transfer and shall not reflect on its records any change in record ownership of Sunnova Securities pursuant to any
such Transfer. In the event that any Investor materially breaches or violates the terms of this Article III and such breach or violation is not promptly cured (or waived by the other Investors), such Investor (and its attempted Transferee)
shall have no voting rights as an equity holder in the Company (including, without limitation, pursuant to Section 6.9 hereof) unless and until such time as such breach or violation is cured (or waived by the other
Investors). 
 Section 3.2 Transfer Notice. In advance of any proposed Transfer of Sunnova Securities, other than an Exempt
Transfer, the transferring Investor (the “Transferring Investor”) shall deliver written notice to the Company and each other Investor stating that the Transferring Investor desires to Transfer Sunnova Securities. Such notice (the
“Transfer Notice”) shall be provided prior to the proposed Transfer and shall disclose the number of Sunnova Securities to be sold (the “Offered Securities”). 

Section 3.3 Legending Requirement. Unless otherwise determined by the Board (upon advice from legal counsel), each certificate
evidencing Sunnova Securities, if any, shall be stamped or otherwise imprinted with a legend containing substantially the following terms: 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN INVESTORS AGREEMENT DATED AS OF NOVEMBER 9, 2017, BY AND AMONG THE
ISSUER OF SUCH SECURITIES (THE “COMPANY”) AND THE COMPANY’S INVESTORS, AS THE SAME MAY BE AMENDED, SUPPLEMENTED AND/OR RESTATED FROM TIME TO TIME. THE TERMS OF SUCH INVESTORS AGREEMENT INCLUDE, AMONG OTHER THINGS, RESTRICTIONS ON
TRANSFERS. A COPY OF SUCH INVESTORS AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST.” 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 13 

 Section 3.4 Right of First Offer. 

(a) At any time after the Lock-up Expiration Period, and subject to the terms and conditions specified
in this Section 3.4, each Principal Investor shall have a right of first offer if any other Investor proposes to Transfer any Sunnova Securities owned by it to any third party, excluding Permitted Transferees. Each time the
Transferring Investor proposes to Transfer any Offered Securities (other than Transfers to a Permitted Transferee and Transfers made pursuant to a Public Sale), the Transferring Investor shall first offer the Offered Securities to the Principal
Investors (other than such Transferring Investor) in accordance with the provisions of this Section 3.4. 
 (b) The
Transferring Investor shall provide a Transfer Notice to the Principal Investors stating its intention to Transfer the Offered Securities. Within thirty (30) days (the “Offer Period”) after receipt of the Transfer Notice by the
Principal Investors, each Principal Investor, either alone or with one or more other Principal Investors, shall have a right to make an offer to purchase (i) all, but not less than all, of the Offered Securities or (ii) their Proportionate
Percentage of Offered Securities (the “ROFO Offer”), provided that if the Transferring Investor is transferring greater than twenty-five percent (25%) of the Series A Common Stock (calculated on a fully-diluted as-converted basis), the ROFO Offer must be an offer to purchase all of the Offered Securities. 
 (c) Each
ROFO Offer (i) shall set forth the proposed amount and form of consideration and terms and conditions of payment offered by the Investor or Investors and a summary of any other material terms pertaining to the Transfer and (ii) must remain
open for at least sixty (60) days following the date on which the Transferring Investor receives the ROFO Offer. 
 (d) If the
Transferring Investor does not receive any ROFO Offer within the Offer Period, or if all Principal Investors inform the Transferring Investor in writing that they will not be exercising their right of first offer rights hereunder, then the
Transferring Investor may, subject to the requirements of Sections 3.4(h) and 3.6, transfer all of the Offered Securities to a third party at a price and on terms and conditions acceptable to such Transferring Investor. 

(e) If the Transferring Investor receives only one ROFO Offer within the Offer Period, the Transferring Investor may accept or reject such ROFO
Offer in its sole discretion. If the Transferring Investor receives more than one ROFO Offer for all of the Offered Securities, the Transferring Investor may accept the highest such ROFO Offer and reject the other ROFO Offers or reject all ROFO
Offers in its sole discretion. If the Transferring Investor receives more than one ROFO Offer and at least one such ROFO Offer is for a Principal Investor’s Proportionate Percentage of the Offered Securities, the Transferring Investor may
accept one or more of the highest ROFO Offer(s) and reject the other ROFO Offers or reject all ROFO Offers in its sole discretion; provided that, if the Transferring Investor accepts one or more Principal Investors’ ROFO Offers for their
respective Proportionate Percentages of the Offered Securities, then the Company shall notify the remaining Principal Investors of such acceptance and the remaining Principal Investors shall have the opportunity to make a new ROFO Offer within five
(5) Business Days of receipt of such notice from the Company for the Offered Securities which are not subject to any accepted ROFO Offer. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 14 

 (f) If a Transferring Investor accepts a ROFO Offer, then the Transferring Investor and the
applicable Principal Investor shall negotiate in good faith to consummate the ROFO Offer as promptly as reasonably practicable and in any event within sixty (60) days from the date of the ROFO Offer, and shall not transfer any Offered
Securities described in such ROFO Offer to any third party purchaser. 
 (g) If the Transferring Investor rejects all ROFO Offers from the
Principal Investors, or if the Transferring Investor does not accept ROFO Offers with respect to all Offered Securities, then the Transferring Investor may, subject to the requirements of Sections 3.4(h) and 3.6, sell any Offered
Securities which are not subject to any accepted ROFO Offer to a third party purchaser at a price higher than that offered in all of the rejected ROFO Offers, and on such terms and conditions which, when taken as a whole, are at least as favorable
in the aggregate to the Transferring Investor as those set forth in the most favorable rejected ROFO Offer. 
 (h) The Transferring Investor
may only sell Offered Securities to a third party purchaser as permitted under Section 3.4(d) and Section 3.4(g), and the Transferring Investor shall: 

(i) enter into a letter of intent or similar arrangement with such third party purchaser within sixty (60) days from the
date that is the later of (x) the date of the last ROFO Offer and (y) the expiration of the Offer Period (such later date, the “Commencement Date”); 

(ii) enter into a definitive agreement with such third party purchaser within one hundred twenty (120) days of the
Commencement Date; and 
 (iii) consummate such sale within one hundred eighty (180) days of the Commencement Date;
provided that to the extent the Transferring Investor has used commercially reasonable efforts to obtain all required approvals and consents prior to the expiration of such 180-day period, the Transferring
Investor may extend such 180-day period by up to sixty (60) days if necessary to obtain any required regulatory approvals or third party consents. 

(i) If the Transferring Investor does not meet any of the deadlines described in Section 3.4(h), then any proposed
transfer by such Transferring Investor shall once again be subject to the terms and conditions of this Section 3.4. 

(j) In the event of a potential sale by a Transferring Investor to a third party purchaser pursuant to the terms of
Section 3.4(h), the directors and officers of the Company shall (i) permit such potential third party purchaser, after executing a confidentiality agreement in a form satisfactory to the Board, to conduct a due
diligence review of the Company and its business, operations, prospects, assets, liabilities, financial condition and results of operations, and (ii) make available the officers and technical personnel of the Company, during normal business
hours, upon reasonable advance notice and at such Transferring Investor’s sole cost and expense, for the purpose of making presentations to, and answering questions from, such potential third party purchaser. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 15 

 Section 3.5 Drag-Along Right. 

(a) After the Lock-up Expiration Date, except for any Transfer to a Permitted Transferee, if any
Principal Investor or group of Principal Investors desires to make a Transfer of Sunnova Securities constituting seventy-five percent (75%) or more of the outstanding Series A Common Stock (on a fully-diluted,
as-converted basis) to any third party and such Transferring Investor(s) has satisfied the requirements of Section 3.4, each remaining Investor (the “Drag-Along Investors”) shall, at the option of the Transferring Investor(s) (the “Drag-Along Right”), Transfer their Sunnova Securities (including Series B Common Stock issuable upon exercise
of any Vested Options and any options that vest as a result of the consummation of the Transfer to the third party but not including any Series B Common Stock issuable upon exercise of any unvested Options) on the same terms and conditions as the
Transfer of Offered Securities in the proposed Transfer (a “Drag-Along Sale”). The Company may require a Management Investor that is a Drag-Along Investor to exercise such Management Investor’s Vested Options, in whole or in
part, prior to or simultaneously with the closing of any transaction or transactions described in this Section 3.5. If the Transferring Investor(s) elects to exercise its Drag-Along Right under this
Section 3.5, then it shall so notify each Drag-Along Investor in writing (“Drag-Along Notice”). Each Drag-Along Notice shall (i) set forth the number of Offered Securities, (ii) specify in
reasonable detail the identity of the Offeror, (iii) specify in reasonable detail the amount and type of consideration (including, if the consideration consists in whole or in part of non-cash
consideration, such information available to the Transferring Investor as may be reasonably necessary for the Drag-Along Investors and the Company to properly analyze the economic value and investment risk of such
non-cash consideration) and (iv) specify any other material terms and conditions of the proposed Transfer. Upon receipt of any Drag-Along Notice, each Drag-Along Investor shall, subject to the provisions
of this Section 3.5, cooperate and use its commercially reasonable efforts to facilitate the Transfer and shall sign such instruments and take such action as may be reasonably required to consummate the Transfer. If, and
only if, a Drag-Along Investor breaches the immediately preceding sentence and has not cured such breach within five (5) Business Days after receipt of written notice thereof from the Transferring Investor with a specific explanation of the
alleged breach and the required corrective action (such notice a “Drag Breach Notice” and such Drag-Along Investor, a “Drag Breaching Investor”), then such Drag Breaching Investor is deemed to hereby make,
constitute and appoint the Transferring Investor, with full power of substitution and re-substitution, as such Drag Breaching Investor’s true and lawful attorney-in-fact for it and in its name, place and stead and for its use and benefit, to sign, execute, certify, acknowledge, swear to, file and record any and all documents and to take any actions to the
extent required to be taken by the Drag Breaching Investor pursuant to the immediately preceding sentence and set forth in the Drag Breach Notice. The parties hereto acknowledge that any such power of attorney is coupled with an interest and is
irrevocable. Notwithstanding the foregoing, in the event that more than fifty percent (50%) of the proceeds to be received by the Drag-Along Investors is not cash, the Transferring Investor will not have the right to exercise the Drag-Along Right
unless approved by a Board Supermajority. 
 (b) The proceeds of the Drag-Along Sale shall be allocated to the Transferring Investors and the
Drag-Along Investors in accordance with Article IV.3(b) of the Restated Certificate as if (A) such transfer were a Deemed Liquidation Event (as defined in the Restated Certificate) and (B) the Offered Securities sold in accordance with
this Section 3.5 were the only Sunnova Securities outstanding. For purposes of this Section 3.5(b), a Management Investor that 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 16 

 
holds Vested Options that are not exercised prior to or simultaneously with the closing of the transaction shall receive, with respect to such Vested Options, the consideration that would
otherwise be payable with respect to the shares of Series B Common Stock underlying such Vested Options, minus the aggregate exercise price of such Vested Options. 

Section 3.6 Tag-Along Right. 

(a) After the Lock-up Expiration Date, except for any Transfer to a Permitted Transferee and any
proposed Transfer governed by Section 3.5, if any Investor or group of Investors desires to make a Transfer of (x) thirty-five percent (35%) or more, with respect to Tag-Along
Rights of Principal Investors and (y) fifty percent (50%) or more, with respect to Tag-Along Rights of Management Investors, of the outstanding Series A Common Stock (on a fully-diluted as-converted basis) (as described herein, a “Tag-Along Sale”), each other Investor (a “Tag-Along
Investor”) shall have the right (the “Tag-Along Right”) to require that the proposed purchaser in connection with the Tag-Along Sale purchase
such Tag-Along Investor’s Proportionate Percentage of its Sunnova Securities (including Series B Common Stock issuable upon exercise of any Vested Options and any options that vest as a result of the
consummation of the Transfer to the third party but not including any Series B Common Stock issuable upon exercise of any unvested Options) (the “Tag-Along Securities”), on the same terms and
conditions as the Tag-Along Sale as set forth in the Transfer Notice, which, for purposes of this Section 3.6(a), shall (i) disclose the Offered Securities and (ii) specify
in reasonable detail the amount and type of consideration (including, if the consideration consists in whole or in part of non-cash consideration, such information available to the Transferring Investor as may
be reasonably necessary for the other Investors to properly analyze the economic value and investment risk of such non-cash consideration) and the other terms and conditions of the proposed Transfer. The
Company may require a Management Investor that is a Tag-Along Investor to exercise such Management Investor’s Vested Options, in whole or in part, prior to or simultaneously with the closing of the
transaction or transactions described in this Section 3.6. If a Tag-Along Investor elects to exercise its Tag-Along Right under this
Section 3.6, then he, she or it shall so notify the Transferring Investor in writing (the “Tag-Along Notice”) within five (5) Business Days after the later of
(i) the expiration of the Tag-Along Investor’s Offer Period, as applicable, and (ii) the last day on which the Transferring Investors are required to send notice of the exercise of Drag-Along
Rights, if applicable. In the event that the purchaser in the Tag-Along Sale does not purchase all the Tag-Along Securities pursuant to this
Section 3.6, then the Transferring Investor shall not be permitted to sell any of its Offered Securities to such purchaser unless the Transferring Investor purchases from the
Tag-Along Investors all of the Tag-Along Securities, at the price and on comparable terms to what the Tag-Along Investors would
have received if the purchaser in the Tag-Along Sale had purchased all such Tag-Along Securities. 

(b) The proceeds of the Tag-Along shall be allocated to the Transferring Investors and the Tag-Along Investors in accordance with Article IV.3(b) of the Restated Certificate as if (A) such transfer were a Deemed Liquidation Event (as defined in the Restated Certificate) and (B) the Offered
Securities sold in accordance with this Section 3.6 were the only Sunnova Securities outstanding. For purposes of this Section 3.6(b), a Management Investor that holds Vested Options that are not
exercised prior to or simultaneously with the closing of the transaction shall receive, with respect to such Vested Options, the consideration that would otherwise be payable with respect to the shares of Series B Common Stock underlying such Vested
Options, minus the aggregate exercise price of such Vested Options. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 17 

 Section 3.7 Cooperation. 

(a) In the event of (i) the exercise of a Drag-Along Right pursuant to Section 3.5, each Investor, or
(ii) the exercise of a Tag-Along Right pursuant to Section 3.6, each Tag Along Investor exercising its Tag Along Right, shall consent to and raise no objections against the
transaction and shall take all actions that the Board reasonably deems necessary or desirable in connection with the consummation of the transaction. Without limiting the generality of the foregoing, each such Investor agrees to: (A) execute
any purchase agreement, merger agreement or other agreement entered into with the purchaser and any ancillary agreement with respect thereto; (B) vote the Sunnova Securities held by the Investor in favor of the transaction; and (C) refrain
from the exercise of, and waive, dissenters’ appraisal rights with respect to the transaction. 
 (b) The obligations of the Drag-Along
Investors and Tag-Along Investors are subject to the following terms and conditions: 

(i) subject to Section 3.7(b)(v), if any Investor is given an option as to the form and amount of
consideration to be received, all Drag-Along Investors or Tag-Along Investors, as applicable, shall be given the same option; 

(ii) no Drag-Along Investor or Tag-Along Investor, as applicable, shall be required to
provide any representations, warranties or indemnities in connection with the Transfer, other than customary (including with respect to qualifications) representations and warranties, subject to any exceptions set forth on a disclosure schedule,
concerning (i) such Investor’s valid title to and ownership of the Sunnova Securities, free and clear of all Liens (excluding those arising under applicable securities laws), (ii) such Investor’s authority, power and right to enter
into and consummate such Transfer, and (iii) the absence of any violation of law to which such Investor is subject or by which its assets are bound, which in each case shall be on a several basis, and not on a joint or joint and several basis;
provided that such representations, warranties or indemnities shall not be required to be made or given unless the Transferring Investors make or give such representations, warranties or indemnities; 

(iii) no Drag-Along Investor or Tag-Along Investor, as applicable, shall be liable for,
or obligated with respect to, the inaccuracy of any representation, warranty or covenant made by another Person other than the Company in connection with the Transfer; 

(iv) no Drag-Along Investor or Tag-Along Investor, as applicable, or any of its
Affiliates (other than an Investor that is an employee or consultant of the Company or one or more of its Subsidiaries) shall be required to execute an agreement with a non-competition, non-solicitation, no-hire or other similar restrictive covenant provisions applicable to such Investor or any of its Affiliates, and any confidentiality provision shall be
substantially similar to the confidentiality provision to which the Investors or any of their Affiliates is subject hereunder; 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 18 

 (v) unless otherwise approved by a Board Supermajority, no Drag-Along
Investor or Tag-Along Investors, as applicable, will have any liability in respect of such Transfer for any breach in excess of its ratable share of any purchase price escrow, except for the Investor’s
representations and warranties with respect to itself set forth in Section 3.7(b)(ii), which liability for breaches of such representation and warranties will not exceed the net purchase price actually received by such
Investor, other than in the case of fraud; 
 (vi) any indemnification obligations will be on a several, and not joint, basis
and a Drag-Along Investor’s or Tag-Along Investor’s, as applicable, aggregate liability will not exceed the net purchase price actually received by such Investor and shall be allocated among the
Investors in a manner necessary to preserve the liquidation preference of the Convertible Preferred Stock, such that any such indemnification obligations shall be allocated first to the holders of Common Stock on a pro rata basis, with any remainder
being allocated to the holders of the Convertible Preferred Stock on a pro rata basis, other than in the case of fraud; and 

(vii) if all or part of the consideration proposed to be paid to Investors in a Transfer includes securities with respect to
which no registration statement covering the issuance of such securities has been declared effective under the Securities Act, then each Investor that is not then an “accredited investor” (as such term is defined in Rule 501 under the
Securities Act) may be required (notwithstanding Section 3.7(b)(i)), at the request and election of the Transferring Investor, to (i) appoint a purchaser representative (as defined in Rule 501 under the Securities Act)
reasonably acceptable to such Transferring Investor or (ii) accept cash in lieu of any securities such Investor would otherwise receive in an amount equal to the fair market value of such securities. For the avoidance of doubt, any Transfer
contemplated by this Section 3.7(b)(vii) that would result in any Drag-Along Investor receiving less than fifty percent (50%) of the aggregate consideration such Drag-Along Investor
is entitled to receive under this Section 3.7(b)(vii) in a form other than cash must be approved by a Board Supermajority. 

(c) Each Investor participating in a Drag-Along Sale or Tag-Along Sale shall bear its pro rata share of
the costs of any transaction in which it sells Sunnova Securities (based upon the net proceeds received by such Investor in such transaction), allocated pro rata among the Investors in a manner necessary to preserve the liquidation preference of the
Convertible Preferred Stock, such that any such costs shall be allocated first to the holders of Common Stock on pro rata basis, with any remainder being allocated to the holders of the Convertible Preferred Stock on a pro rata basis, to the extent
such costs are incurred for the benefit of all holders of Sunnova Securities and are not otherwise paid by the Company or the acquiring party. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 19 

 Section 3.8 Right to Public Offering. 

(a) Pursuant to the Registration Rights Agreement dated as of the Original Agreement Date (as such agreement may be amended from time to time,
the “Registration Rights Agreement”), by and among the Company and the Investors, certain Investors (the “IPO Investors”) shall have the right, upon the terms and subject to the conditions set forth in the
Registration Rights Agreement and this Section 3.8, to cause the Company to consummate an initial public offering (a “Required IPO”). 

(b) In furtherance of such Required IPO, the Company shall, upon written request of the IPO Investor(s), implement a structure for the Required
IPO as determined by the IPO Investor(s) (the “Required IPO Structure”). The Company shall cooperate in the Required IPO Structure as requested by the IPO Investor(s). 

(c) Anything contained herein to the contrary notwithstanding, if at any time the IPO Investor(s) exercise their rights pursuant to the
Registration Rights Agreement to cause a Required IPO, each other Investor shall consent to and raise no objections to the Required IPO. The IPO Investor(s) shall provide to each other Investor a notice (the “IPO Notice”), at least forty-five (45) days prior to the consummation of the proposed Required IPO, setting forth the proposed terms of such Required IPO. 

(d) Upon the delivery of such IPO Notice, each Investor shall take all necessary and desirable actions reasonably requested by the Board or the
IPO Investor(s) in connection with the consummation of the Required IPO, including executing such documents (including any necessary amendments to this Agreement and the Registration Rights Agreement) and taking such other actions reasonably
necessary to (i) establish the Required IPO Structure; (ii) provide customary representations, warranties and indemnities with respect to (A) matters of ownership and title to the Sunnova Securities owned by such Investors and
(B) the due authorization or capacity and due and valid execution and delivery by such Investors of documentation in respect of the Required IPO, as are executed by the IPO Investors; (iii) provide indemnities, covenants, conditions,
escrow agreements and other reasonable provisions and agreements relating to such Required IPO (it being understood and agreed that no Investor shall be required to enter into a non-competition covenant); and
(iv) subject to Section 3.8(e), to pay its pro rata portion (based on participation in such Required IPO) of the fees and expenses incurred in connection with such Required IPO, provided that (x) each Investor
that has a right to sell Sunnova Securities in such Required IPO and elects to sell Sunnova Securities in such Required IPO will receive the same form and amount of consideration per Sunnova Security, and (y) no Investor shall be required to
incur indemnification obligations in connection with such Required IPO other than those set forth in the Registration Rights Agreement or the applicable underwriting agreement. 

(e) Without limiting the foregoing, each Investor shall take all necessary actions reasonably requested by the Board or the IPO Investor(s) in
connection with the consummation of such initial public offering, including, without limitation, (i) compliance with the requirements of all laws and regulatory bodies that have jurisdiction over such initial public offering,
(ii) compliance with the listing and other rules governing the securities exchange on which the Common Stock will be listed and waiving any approval rights in connection with such initial public offering, provided that in no event shall any
Investor be required to take any action which would be in violation of or contravene any law, rule, regulation or other limitation of any governmental or regulatory body having jurisdiction over such Investor as reasonably determined by such
Investor’s legal counsel and (iii) taking such actions as may be necessary to effect a reorganization of the Company in anticipation of such initial public offering. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 20 

 ARTICLE IV 

PREEMPTIVE RIGHTS 

Section 4.1 Sale of Securities. 

(a) Except as set forth in Section 4.1(g), if the Company proposes to issue or causes to be issued
(i) additional Sunnova Securities or any Securities of a Subsidiary of the Company (in each case other than Exempt Securities) or (ii) debt securities to any Investor or its Affiliates (determined without regard to the last sentence of the
definition of “Affiliate”) (collectively, a “New Interest”), each Principal Investor shall have the right (the “Preemptive Right”), to purchase such Investor’s Proportionate Percentage of such New
Interest at the time of the Preemptive Right Notice (defined below) and in accordance with the following procedures. 
 (b) The Company shall
give each Principal Investor at least twenty (20) Business Days (the “Election Period”) prior written notice (the “Preemptive Right Notice”) of any proposed issuance of New Interests, which notice shall set
forth in reasonable detail the proposed terms and conditions thereof and shall offer to each such Principal Investor the opportunity to purchase its Proportionate Percentage of such New Interests at the same price, on the same terms and conditions
and at the same time as the New Interests are proposed to be issued by the Company. If any such Principal Investor wishes to exercise its Preemptive Right, it must do so by delivering an irrevocable written notice (an “Election
Notice”) to the Company before the end of the Election Period, which notice shall set forth (i) the dollar amount of New Interests such Principal Investor desires to purchase in connection with such Preemptive Notice, up to such
Principal Investor’s Proportionate Percentage (the “Preemptive Right Election Amount”) and (ii) if such Principal Investor desires to purchase more than its Proportionate Percentage, the maximum dollar amount of New
Interests such Principal Investor desires to purchase (the excess of such maximum dollar amount over the dollar amount of such Principal Investor’s Proportionate Percentage, such Principal Investor’s “Additional Election
Amount”) which such Additional Election Amount, together with the dollar amount of such Principal Investor’s Proportionate Percentage, shall not exceed the dollar amount of the New Interests being offered. 

(c) If one or more of such Principal Investors entitled to the Preemptive Right fails to subscribe for all of its Proportionate Percentage (the
New Interests that comprise any such unsubscribed portions of such Principal Investor’s Proportionate Percentage, the “Unsubscribed Amount”), the Company shall deliver written notice thereof (a “Supplemental Preemptive
Notice”) to each Principal Investor that delivered an Election Notice requesting an Additional Election Amount (a “Preemptive Right Participating Principal Investor”), which notice shall set forth (i) the Unsubscribed
Amount and (ii) the Additional Election Amount required to be funded by the Preemptive Right Participating Principal Investor based on its Election Notice, provided, however, that if the sum of all Additional Election Amounts of
the Preemptive Right Participating Principal Investors set forth in the Election Notices exceeds the Unsubscribed Amount, then the Additional Election Amount of each Preemptive Right Participating Principal Investor shall be reduced to an amount
equal to the product of (x) the Unsubscribed Amount and (y) a fraction (expressed as a percentage), the numerator of which is the amount of such Preemptive Right Participating Principal Investor’s Additional Election Amount and the
denominator of which is the sum of all Additional Election Amounts requested by the Preemptive Right Participating Principal Investors in the Election Notices delivered to the Company pursuant to Section 4.1(b). 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 21 

 (d) At closing (which shall occur eleven (11) Business Days after the end of the
Election Period or such other date as the Company and the Principal Investors who deliver an Election Notice pursuant to Section 4.1(b) may agree (such closing date, the “Preemptive Right Closing Date”)),
each Principal Investor who delivers an Election Notice to the Company shall (i) purchase, for cash, the Preemptive Right Election Amount of New Interests indicated in the Election Notice of such Principal Investor, plus, if applicable, all or
a portion of such Principal Investor’s Additional Election Amount of New Interests to the extent set forth in the Supplemental Preemptive Notice delivered to such Principal Investor pursuant to Section 4.1(c),
and (ii) take all appropriate actions and execute such other instruments, in each case as shall be reasonably requested by the Company in connection with such New Interests. If any Principal Investor who delivers an Election Notice pursuant
to Section 4.1(b) fails to make full payment to the Company on or prior to the Preemptive Right Closing Date for the purchase of its Preemptive Share Election Amount and Additional Election Amount (if any) of New Interests,
as required under this Section 4.1(d), (a) such Principal Investor shall be entitled to purchase only such portion of its Preemptive Share Election Amount and Additional Election Amount (if any) covered by the dollar amount
actually paid by such Principal Investor, (b) the portion of such Principal Investor’s Preemptive Share Election Amount and Additional Election Amount (if any) not so purchased shall be treated as an Unsubscribed Amount and the Company
shall deliver a new Supplemental Preemptive Notice to each of the other Preemptive Right Participating Principal Investors with respect to such Unsubscribed Amount, (c) such Principal Investor’s election to purchase any additional New
Interests pursuant to this Article IV shall be deemed null and void and (d) each other Principal Investor with a Preemptive Right any such additional New Interests not purchased (if any) shall be deemed to be part of the Unsubscribed
Amount. 
 (e) If, following the end of the Election Period, there remains any Unsubscribed Amount that has not been subscribed for by one or
more Principal Investors pursuant to Section 4.1(c) (or if following the Preemptive Right Closing Date there exists any Unsubscribed Amount), then for a period not exceeding one hundred eighty (180) days following the
expiration of the Election Period (the “Third Party Offering Period”), any or all of such Unsubscribed Amount may be issued and sold to any purchaser at a price not less than the price at which they were offered to the Principal
Investors and pursuant to other terms and conditions no more favorable in the aggregate to the purchasers thereof than those offered to the Principal Investors, in each case as specified in the Preemptive Right Notice. Any Unsubscribed Amount not so
issued and sold to any purchaser during the Third Party Offering Period will thereafter again be subject to the Preemptive Rights provided for in this Article IV. 

(f) If, in any instance, a Principal Investor elects not to exercise such Principal Investor’s rights under this Article IV, such
election shall not constitute a waiver of such Principal Investor’s rights in the case of any subsequent transaction by the Company giving rise to the issuance of a Preemptive Right Notice hereunder. 

(g) Notwithstanding anything herein in this Article IV to the contrary, if the Board determines that compliance with the time periods
described in this Article IV would not be in the best interests of the Company because of the liquidity needs of the Company or to comply with covenants under any indebtedness of the Company, then, in lieu of offering any Sunnova Securities
to the Principal Investors entitled to the Preemptive Right at the time such Sunnova Securities are otherwise being issued or sold to a purchaser of Sunnova Securities, the Company 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 22 

 
may comply with the provisions of this Article IV by making an offer to sell to such Principal Investors their Proportionate Percentage (calculated as if the such Sunnova Securities had
not been issued or sold) of the aggregate amount of such Sunnova Securities (including any Sunnova Securities offered pursuant to this Section 4.1(g)) promptly, and in no event later than thirty (30) Business Days,
after such sale is consummated. In such event, for all purposes of this Article IV, each such Principal Investor’s Proportionate Percentage shall be determined taking into consideration the actual number of securities sold so as to
achieve the same economic effect as if such offer would have been made prior to such sale. 
 (h) Notwithstanding anything in this Agreement
to the contrary, any Principal Investor that is also a Management Investor shall lose his or her Preemptive Right on the date of such Management Investor’s Termination of Employment. 

Section 4.2 Exempt Securities. The rights of the Investors under Section 4.1 shall not apply to the
following Sunnova Securities (the “Exempt Securities”): 
 (a) Common Stock or Preferred Stock issued or issuable pursuant
to the Purchase and Exchange Agreement (including pursuant to Section 9.2 thereof); 
 (b) Sunnova Securities issued by reason of a
dividend, stock split, split-up or other distribution on shares of Common Stock that is covered by Section IV.3(d)(v), (vi), (vii) or (viii) of the Restated Certificate; 

(c) Sunnova Securities issued or issuable upon conversion of any of the Preferred Stock, or as a dividend or distribution on the Preferred
Stock; 
 (d) Sunnova Securities issued or issuable upon the conversion of any debenture, warrant, option or other convertible security (but
only to the extent that the original issuance of such debenture, warrant, option or other convertible security was subject to the preemptive rights set forth in this Section 4.1); 

(e) Sunnova Securities issued or issuable to employees or directors of, or consultants or advisors to, the Company (including any Sunnova
Securities issued upon the conversion, exercise or exchange thereof) pursuant to any plan approved by the Board; 
 (f) Sunnova Securities
issued or issuable pursuant to the acquisition of another Entity by the Company by merger, purchase of substantially all of the assets or a business line, unit or division or other reorganization or pursuant to a joint venture agreement, provided
that such issuances are approved by the Board; 
 (g) Any Securities of a Subsidiary of the Company issued to the Company or any Subsidiary
of the Company; or 
 (h) Sunnova Securities issued or issuable in any firmly underwritten public offering of the Company pursuant to a
registration statement under the Securities Act, including issuances solely for the purposes of effecting a Required IPO Structure in accordance with the terms of this Agreement and the Registration Rights Agreement. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 23 

 ARTICLE V 

RIGHTS TO REPURCHASE SHARES 

Section 5.1 Call Right. 

(a) The Company shall have the option to repurchase any Sunnova Securities held by any Management Investor or his or her Permitted Transferees
(the “Call Right”), exercisable any time during the period beginning on the date of such Management Investor’s Termination of Employment and ending on the date (the “Repurchase Deadline”) that is the first
anniversary of the later of (i) the date of such Termination of Employment and (ii) the date of the exercise of any Vested Options held by such Management Investor as of the date of such Termination of Employment; provided,
however, that, notwithstanding the foregoing, in no event shall the Company purchase any Sunnova Securities pursuant to the Call Right prior to the day immediately following the six (6) month anniversary of the date such Management
Investor first purchased such Sunnova Securities (whether pursuant to the exercise of Vested Options or otherwise). The Call Right may be exercised more than once and may be exercised with respect to some or all of the Sunnova Securities outstanding
on the date of any Call Notice. The repurchase price payable by the Company upon exercise of the Call Right (“Call Repurchase Price”) shall be the Fair Market Value of the Sunnova Securities subject to the Call Right on the date of
the repurchase; provided, however, that, notwithstanding the foregoing, in the event of (A) except for Management Investors’ Series A Common Stock or any Management Investors’ Series B Common Stock acquired prior to the
date hereof, a Management Investor’s resignation prior to the second (or third, in the case of the Chief Executive Officer of the Company) anniversary of the later of the date hereof and such Management Investor’s date of hire by the
Company, (B) a Management Investor’s Termination of Employment at any time by the Company for Cause or (C) material breach by a Management Investor of any restrictive covenant (other than a nondisparagement covenant) in any employment
agreement, Equity Incentive Plan or equity award agreement or other document to which such Management Investor is subject (“Restrictive Covenants”), the Call Repurchase Price shall be the lesser of (x) Fair Market Value of the
Sunnova Securities subject to the Call Right on the date of the repurchase and (y) the purchase price paid by such Management Investor for such Sunnova Securities (or if no purchase price was paid, the price per Sunnova Security equal to the
par value per Sunnova Security); provided, further, that a resignation of a Management Investor for Good Reason as defined in and pursuant to such Management Investor’s employment agreement with the Company shall be deemed to be a
Termination of Employment by the Company or without Cause for purposes of determining the Call Repurchase Price. The Call Right shall be exercised by written notice to the Management Investor given in accordance with
Section 10.4 of this Agreement (a “Call Notice”) on or prior to the Repurchase Deadline. 
 (b) In
addition, the Company shall have a Call Right effective immediately prior to any Sale of the Company to occur following the date hereof. For purposes of the exercise of any such Call Right, the determination of Fair Market Value shall be made
without regard to any discounts for illiquidity or lack of control. 
 (c) In the event that the Company elects not to exercise its Call
Right under Section 5(a) with respect to all of the Sunnova Securities then held by a Management Investor or his or her Permitted Transferees (the “Eligible Shares”), (i) the Company shall provide written
notice to the ECP Investors on or at any time prior to the Repurchase Deadline of (A) the 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 24 

 
Company’s decision not to purchase all of the Eligible Shares and (B) the number of Eligible Shares that were not purchased by the Company and (ii) the ECP Investors, for so long
as the ECP Investors collectively own 40% (or, following the ECP Investors’ satisfaction of their commitment to purchase the full number of the Additional Shares, 50%) or more of the outstanding Series A Common Stock (on a fully-diluted as-converted basis), shall have the option to purchase some or all of such Eligible Shares (the “ECP Call Right”) at the Call Repurchase Price; provided that a Board Adjustment Event has not
occurred. The ECP Call Right shall be exercised by a Call Notice on or prior to the later of (x) the thirtieth (30th) day following receipt by the ECP Investors of the written notice under clause (i) above and (y) the Repurchase
Deadline. 
 (d) Subject to Section 5.3 below, the repurchase of Sunnova Securities pursuant to the exercise of a
Call Right or ECP Call Right shall take place on a date specified by the Company or the ECP Investors, as applicable, but in no event following the later of (i) the sixtieth (60th) day following the date of the Call Notice and (ii) if
applicable, the tenth (10th) day following the receipt by the Company of all necessary governmental approvals. On such date, the Management Investor or his or her Permitted Transferees shall transfer the Sunnova Securities subject to the Call Notice
to the Company or the ECP Investors, as applicable, free and clear of all liens and encumbrances, by delivering the certificates representing the Sunnova Securities to be purchased, duly endorsed for transfer to the Company or the ECP Investors, as
applicable, or accompanied by a stock power duly executed in blank, and the Company or the ECP Investors, as applicable, shall pay to such Management Investor the Call Repurchase Price. The Management Investor shall use all commercially reasonable
efforts to assist the Company or the ECP Investors, as applicable, in order to expedite all proceedings described in this Article 5. 

Section 5.2 Involuntary Transfers. 

(a) In the case of any transfer of title or beneficial ownership of Sunnova Securities upon default, foreclosure, forfeit, divorce, court order
or otherwise, other than by a voluntary decision on the part of a Management Investor (each, an “Involuntary Transfer”), such Management Investor shall promptly (but in no event later than two (2) days after the Involuntary
Transfer) furnish written notice (the “Involuntary Transfer Notice”) to the Company indicating that the Involuntary Transfer has occurred, specifying the name and last known address, phone number, facsimile number and email address
of the person to whom the shares were transferred (the “Involuntary Transferee”), giving a detailed description of the circumstances giving rise to, and stating the legal basis for, the Involuntary Transfer. 

(b) Upon the receipt of the Involuntary Transfer Notice, and for sixty (60) days thereafter, the Company shall have the right to
repurchase, and the Involuntary Transferee shall have the obligation to sell, any of the Sunnova Securities acquired by the Involuntary Transferee for a repurchase price equal to the Fair Market Value of such Sunnova Securities as of the date of the
repurchase (the “Involuntary Transfer Repurchase Price” and such right, the “Involuntary Transfer Repurchase Right”). The Involuntary Transfer Repurchase Right shall be exercised by written notice (the
“Involuntary Transfer Repurchase Notice”) to the Involuntary Transferee given in accordance with Section 10.4 of this Agreement on or prior to the last date on which the Involuntary Transfer Repurchase
Right may be exercised by the Company. The Involuntary Transfer Repurchase Right may be exercised more than once and may be exercised with respect to some or all of the Sunnova Securities. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 25 

 (c) In the event that the Company elects not to exercise its Involuntary Transfer Repurchase
Right under Section 5.2(b) with respect to all of the Sunnova Securities, (i) the Company shall provide written notice to the ECP Investors on or at any time prior to sixtieth (60th) day after receipt of the Involuntary Transfer Notice of (A) the Company’s decision not to purchase all of the Sunnova Securities acquired by the Involuntary Transferee and (B) the
number of Sunnova Securities that were not purchased by the Company and (ii) the ECP Investors, for so long as the ECP Investors collectively own 40% (or, following the ECP Investors’ satisfaction of their commitment to purchase the full
number of the Additional Shares, 50%) or more of the outstanding Series A Common Stock (on a fully-diluted as-converted basis), shall have the option to purchase, and the Involuntary Transferee shall have the
obligation to sell, some or all of such Sunnova Securities (the “ECP Involuntary Transfer Repurchase Right”) at the Involuntary Transfer Repurchase Price; provided that a Board Adjustment Event has not occurred. The ECP
Involuntary Transfer Repurchase Right shall be exercised by delivery of an Involuntary Transfer Repurchase Notice on or prior to the thirtieth (30th) day following receipt by the ECP Investors of the written notice under clause (A) above. The
ECP Involuntary Transfer Repurchase Right may be exercised more than once and may be exercised with respect to some or all of the Sunnova Securities. 

(d) Subject to Section 5.3 below, the repurchase of Sunnova Securities pursuant to the exercise of the Involuntary
Transfer Repurchase Right or ECP Involuntary Transfer Repurchase Right shall take place on a date specified by the Company or the ECP Investors, as applicable, but in no event following the later of the sixtieth (60th) day following the date of the Involuntary Transfer Repurchase Notice or the tenth (10th) day following the receipt by the Company of all
necessary governmental approvals. On such date, the Involuntary Transferee shall transfer the Sunnova Securities subject to the Involuntary Transfer Repurchase Notice to the Company or the ECP Investors, as applicable, free and clear of all liens
and encumbrances, by delivering the certificates representing the Sunnova Securities to be purchased, duly endorsed for transfer to the Company or the ECP Investors, as applicable, or accompanied by a stock power duly executed in blank, and the
Company or the ECP Investors, as applicable, shall pay the Involuntary Transfer Repurchase Price to the Involuntary Transferee. The Involuntary Transferee shall use all commercially reasonable efforts to assist the Company or the ECP Investors, as
applicable, in order to expedite all proceedings described in this Section 5.2. If the Involuntary Transferee does not transfer the Sunnova Securities to the Company as required, the Company will cancel such Sunnova
Securities and deposit the funds in a non-interest bearing account and make payment upon delivery. 

(e) In addition to the restrictions set forth elsewhere in this Agreement, if the Company and the ECP Investors do not elect to purchase all of
the Sunnova Securities pursuant to the exercise of the Involuntary Transfer Repurchase Right and the ECP Involuntary Transfer Repurchase Right, respectively, the Involuntary Transferee shall agree in writing to be bound by the terms and conditions
of this Agreement pursuant to an instrument of assumption reasonably satisfactory in form and substance to the Board. Upon the execution of an instrument of assumption by such Involuntary Transferee, such Involuntary Transferee shall be deemed to be
a Management Investor for all purposes of this Agreement except that Article 5 shall cease to apply following such Transfer (other than Section 5.2, which shall continue to apply). If the Involuntary Transferee fails
to execute an instrument of assumption in accordance with this Section 5.2(e) within thirty (30) days of receiving notice from the Company, the Company shall have the option to repurchase

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 26 

 
some or all of the Sunnova Securities held by the Involuntary Transferee for Fair Market Value at any time upon notice to the Involuntary Transferee, and if the Involuntary Transferee fails to
transfer any such Sunnova Securities to the Company, the Company will cancel such Sunnova Securities and deposit the funds in a non-interest bearing account and make payment upon delivery. 

Section 5.3 Repurchase Disability. 

(a) Notwithstanding anything to the contrary herein, except as otherwise provided by Section 5.3(c), the Company
shall not be permitted to purchase any Sunnova Securities held by any Management Investor or Involuntary Transferee upon exercise of the Call Right or the Involuntary Transfer Repurchase Right if the Board determines that: 

(i) the purchase of Sunnova Securities would render the Company or its Subsidiaries unable to meet their obligations in the
ordinary course of business taking into account any pending or proposed transactions, capital expenditures or other budgeted cash outlays by the Company, including, without limitation, any proposed acquisition of any other entity by the Company or
any of its Subsidiaries; 
 (ii) the Company is prohibited from purchasing the Sunnova Securities by applicable law
restricting the purchase by a corporation of its own shares; or 
 (iii) the purchase of Sunnova Securities would constitute
a breach of, default, or event of default under, or is otherwise prohibited by, the terms of any loan agreement or other agreement or instrument to which the Company or any of its Subsidiaries is a party (the “Financing Documents”)
or the Company is not able to obtain the requisite consent of any of its senior lenders to the purchase of the Sunnova Securities. 
 The events described
in (i) through (iii) above each constitute a “Repurchase Disability.” 
 (b) Except as otherwise provided by
Section 5.3(c), in the event of a Repurchase Disability, the Company shall notify in writing the Management Investor or Involuntary Transferee with respect to whom the Call Right or the Involuntary Transfer Repurchase Right
has been exercised (a “Disability Notice”). The Disability Notice shall specify the nature of the Repurchase Disability. The Company shall thereafter repurchase the Sunnova Securities described in the Call Notice or Involuntary
Transfer Repurchase Notice as soon as reasonably practicable after all Repurchase Disabilities cease to exist (or the Company may elect, but shall have no obligation, to cause its nominee to repurchase the Sunnova Securities while any Repurchase
Disabilities continue to exist). In the event the Company suspends its obligations to repurchase the Sunnova Securities pursuant to a Repurchase Disability: (i) the Company shall provide written notice to each applicable Management Investor or
Involuntary Transferee as soon as practicable after all Repurchase Disabilities cease to exist (the “Reinstatement Notice”); (ii) the Fair Market Value of the Sunnova Securities subject to the Call Notice or Involuntary Transfer
Repurchase Notice shall be determined as of the date the Reinstatement Notice is delivered to the Management Investor or Involuntary Transferee, which Fair Market Value shall be used to determine the Call Repurchase Price or Involuntary Transfer
Repurchase Price in the manner described above; and (iii) the repurchase shall occur on a date specified by the Company within ten (10) days following the determination of the Fair Market Value of the Sunnova Securities to be repurchased
as provided in clause (ii) above. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 27 

 (c) Notwithstanding Section 5.3(a) and
Section 5.3(b), in the event of a Repurchase Disability, then, in the sole discretion of the Board, the Company may purchase the Sunnova Securities subject to the Call Right or Involuntary Transfer Repurchase Right, as
applicable, and, in lieu of cash consideration, issue a promissory note to such Management Investor in the amount of the Call Repurchase Price or Involuntary Transfer Purchase Price, as applicable, the terms of which promissory note shall be
acceptable to the Company’s senior lenders and shall not result in a breach or violation of any of the Financing Documents. The promissory note shall (i) bear compound interest at the prime rate as published in the Wall Street Journal
on the date such payment is due and owing from such date to the date such payment is made, (ii) have a term of no more than three (3) years and (iii) have such other reasonable terms and conditions as may be determined by the
Company. All payments of interest accrued under the promissory note shall be paid only at the date of payment by the Company of the principal amount of such promissory note. 

Section 5.4 Set-Off. If any Management Investor is determined by final judicial
determination (or final determination of binding arbitration) to have materially breached any Restrictive Covenant following the exercise by the Company or the ECP Investors of the Call Right or the ECP Call Right, respectively, then such Management
Investor shall immediately return any Gain realized with respect to the Sunnova Securities repurchased by the Company or the ECP Investors pursuant to the Call Right or the ECP Call Right. For purposes of this Agreement, “Gain”
shall mean an amount equal to the excess, if any, of the Call Repurchase Price for the Sunnova Securities repurchased over the purchase price, if any, paid by such Management Investor for such Sunnova Securities. Each Management Investor consents to
a deduction (to the extent permitted by applicable law and not prohibited by Section 409A of the Code) from any amounts the Company or any of its Affiliates may owe such Management Investor from time to time (including, without limitation
amounts owed to such Management Investor as wages or other compensation, fringe benefits or vacation pay), to the extent of the amounts such Management Investor owes the Company pursuant to this Section 5.4. Whether or not
the Company elects to make any set-off in whole or in part, if the Company does not recover by means of set-off the full amount owed by a Management Investor pursuant to
this Section 5.4, such Management Investor shall immediately pay the unpaid balance to the Company. 

ARTICLE VI 
 BOARD OF
DIRECTORS 
 Section 6.1 Size of the Board. Each Investor shall vote all of his, her or its Sunnova Securities and shall
take all other necessary or desirable actions within his, her or its control (whether in such Investor’s capacity as a shareholder of the Company or otherwise, and including attendance at meetings in person or by proxy for purposes of obtaining
a quorum and execution of written consents in lieu of meetings), and the Company shall take all necessary and desirable actions within its control (including calling special Board and shareholder meetings), so the size of the Board shall be set and
remain at seven (7) directors and may be increased or decreased only with the written consent of (a) the Requisite Investors, following (b) approval of the Board including at least one ECP Director and one Non-ECP Director. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 28 

 Section 6.2 Composition of the Board. 

(a) Each Investor shall vote all of his, her or its Sunnova Securities and shall take all other necessary or desirable actions within his, her
or its control (whether in such Investor’s capacity as a shareholder of the Company or otherwise, and including attendance at meetings in person or by proxy for purposes of obtaining a quorum and execution of written consents in lieu of
meetings), and the Company shall take all necessary and desirable actions within its control (including calling special Board and shareholder meetings) to effect the appointment of directors as set forth in this
Section 6.2(a). 
 (i) Initial Directors. From and after the Initial Closing and until such
time as any event set forth in Section 6.2(a)(iii) has occurred: 
 (1) the ECP Investors shall be
entitled to designate four (4) natural Persons to serve on the Board (any natural Person designated by the ECP Investors, an “ECP Director”) as follows: (A) one (1) director nominated by Energy Capital Partners III, LP,
who shall initially be Rahul Advani, (B) one (1) director nominated by Energy Capital Partners III-A, LP, who shall initially be Rahman D’Argenio, (C) one (1) director nominated by Energy
Capital Partners III-B, LP, who shall initially be Matthew DeNichilo, and (D) one (1) director nominated by Energy Capital Partners III-D, LP, who shall initially
be Doug Kimmelman. 
 (2) the Non-ECP Lead Investor Group, on behalf of the Non-ECP Investors, shall be entitled to designate three (3) natural Persons to serve on the Board (any natural Person designated by the Non-ECP Lead Investor Group on
behalf of the Non-ECP Investors, and any replacement thereof designated by Russell Gordy pursuant to Section 6.4(b), a “Non-ECP
Director”). The initial Non-ECP Directors shall initially be William J. Berger, Michael Morgan and C. Park Shaper. 

(3) Provided that William J. Berger, the current Chief Executive Officer of the Company, is appointed as a Non-ECP Director, Mr. Berger shall be the initial Chairman of the Board until his earlier termination or replacement in accordance with the Restated Bylaws. 

(ii) [Reserved] 

(iii) Additional Board Adjustments. 

(1) At such time as the ECP Investors (together with their Permitted Transferees) fail to hold Sunnova Securities representing
more than thirty percent (30%) of the Series A Common Stock of the Company (calculated on a fully-diluted as-converted basis), then the ECP Investors shall be entitled to designate two (2) ECP Directors
(with Energy Capital Partners III, LP and Energy Capital Partners III-D, LP losing their rights to designate a director) and the Non-ECP Lead Investor Group, on behalf of the
Non-ECP Investors, shall be entitled to designate five (5) Non-ECP Directors. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 29 

 (2) At such time as the Non-ECP
Investors (together with their Permitted Transferees) fail to hold Sunnova Securities representing more than thirty percent (30%) of the Series A Common Stock of the Company (calculated on a fully-diluted
as-converted basis), then the Non-ECP Lead Investor Group, on behalf of the Non-ECP Investors, shall be entitled to designate two
(2) Non-ECP Directors and the ECP Investors shall be entitled to designate five (5) ECP Directors (with Energy Capital Partners III-D being entitled to
designate such additional director). 
 (b) Each Investor hereby votes all of his, her or its Sunnova Securities in favor of the election of
each Board nominee set forth in Section 6.2(a). In the absence of any designation from the Persons or groups with the right to designate a director as set forth in Section 6.2(a), the director
previously designated by them and then serving shall be reelected if still eligible to serve as provided herein. 
 (c) From and after the
execution of this Agreement, each Investor shall vote all of his, her or its Sunnova Securities and shall take all other necessary or desirable actions within his, her or its control (whether in such Investor’s capacity as a shareholder of the
Company or otherwise, and including attendance at meetings in person or by proxy for purposes of obtaining a quorum and execution of written consents in lieu of meetings), and the Company shall take all necessary and desirable actions within its
control (including calling special Board and stockholder meetings), to give effect to the provisions of Sections 6.3, 6.4 and 6.5. 

(d) In addition to any requirements set forth in the Restated Bylaws, (i) any quorum of the Board shall require the presence of at least
one Non-ECP Director and one ECP Director and (ii) the Non-ECP Lead Investor Group shall be entitled to designate one
Non-ECP Director to serve on each committee of the Board and the ECP Investors shall be entitled to designate one ECP Director to serve on each committee of the Board. 

Section 6.3 Board Observers. For so long as any Principal Investor holds Sunnova Securities representing at least five percent
(5%) of the outstanding Common Stock of the Company on a fully-diluted as-converted basis, the Company shall invite a representative designated by such Investor (an “Observer”) to attend all
meetings of the Board in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents and other materials that it provides to its directors at the same time and in the same manner as
provided to such directors; provided, however, that such Observer shall agree to hold in confidence and trust and to act in a fiduciary manner with respect to all information so provided; provided, further, that the Company reserves
the right to withhold any information and to exclude such Observer from any meeting or portion thereof if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its
counsel or result in disclosure of trade secrets or a conflict of interest, or if such Investor or its Observer is a competitor of the Company. The rights described in this Section 6.3 shall terminate and be of no further
force or effect upon consummation of a Qualified Public Offering. Notwithstanding the foregoing, (i) the members of the Board may engage in discussions with one another outside of any meetings of the Board without the need to include any
Observer in such discussions or otherwise inform any Observer of such discussions; (ii) the Board may take actions by unanimous written consent without giving prior notice to any Observer, so long as such Observer is provided contemporaneous
notice of such actions and (iii) at any meeting of the Board attended by any Observer, prior to the consummation of such meeting, the Board may sit in executive session without the presence of such Observer for purposes of discussion, vote or
otherwise. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 30 

 Section 6.4 Vacancies; Removal. 

(a) The directors designated pursuant to Section 6.2(a) shall be elected at any annual or special meeting of the
shareholders of the Company (or by written consent in lieu of a meeting of the shareholders) and shall serve until their successors are duly elected and qualified or until their earlier resignation or removal. 

(b) Subject to Section 6.4(c), (i) any director elected pursuant to Section 6.2(a) may be
removed during his or her term of office, with or without cause, by and only by, the affirmative vote or written consent of the Persons entitled to designate such director pursuant to Sections 6.2(a) and (ii) the Investors shall not vote
or consent to remove any director nominated and elected pursuant to Section 6.2(a) unless the Persons entitled to nominate such director shall consent to, approve and recommend such removal. Notwithstanding the immediately
preceding sentence, for so long as (A) no more than one Non-ECP Investor and its Affiliates has an aggregate Proportionate Percentage greater than the Russell Gordy Investors and their Affiliates under
the control of Russell Gordy and (B) no director nominated by Russell Gordy is serving on the Board, Russell Gordy may remove one Non-ECP Director (other than William J. Berger), with or without cause,
and nominate such director’s replacement on behalf of the Non-ECP Investors; provided that the Non-ECP Lead Investor Group may remove, with or without cause,
and replace any Non-ECP Director nominated pursuant to this sentence if at any time the condition set forth in clause (A) of this sentence fails to be satisfied. 

(c) Upon the Non-ECP Lead Investor Group’s or the ECP Investors’ loss of the right to appoint
a Non-ECP Director or ECP Director, as applicable, pursuant to Section 6.2(a), the Non-ECP Lead Investor Group or the ECP Investor, as
applicable, losing such right shall, within five (5) calendar days, designate in writing to the other, as applicable, and the Chairman of the Board which Person is removed from the Board; provided, however, that immediately upon
the loss of such right in accordance with Section 6.2(a), the Chairman of the Board shall not permit an action of the Board to be voted upon or taken by written consent until the appropriate number of directors shall have
been properly adjusted in accordance with Section 6.2(a). In the event that the Non-ECP Lead Investor Group or the ECP Investor, as applicable, losing the right to appoint a director
shall fail to designate which Person is removed in the timeframe required pursuant to the foregoing sentence, (i) the Non-ECP Lead Investor Group, on behalf of the
Non-ECP Investors, in the case of a loss of an ECP Director and (ii) the ECP Representative, on behalf of the ECP Investors, in the case of a loss of a Non-ECP
Director, shall have the right in its sole discretion to designate to the Chairman of the Board and the party losing such right which Person is removed as a director of the Board. 

(d) Any vacancies created by the resignation, removal or death of a director elected pursuant to Section 6.2(a) shall
be filled pursuant to the provisions of this Article VI. 
 Section 6.5 Expenses. The Company shall or shall cause a
Subsidiary to pay or reimburse each director on the Board and on the board of directors of each Subsidiary for the reasonable out-of-pocket expenses incurred by such
director in connection with attending meetings of the Board or such Subsidiary’s board of directors or attending any other activities in connection with the fulfillment of such director’s duties. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 31 

 Section 6.6 Confidentiality Duties. Notwithstanding any applicable fiduciary
duties, any director designated pursuant to Section 6.2(a) shall be and is hereby authorized to disclose to the Person who nominated such director pursuant to Section 6.2(a), confidential
information of the Company and its Subsidiaries to the extent such disclosure is in furtherance of such nominating Person’s administration of its investment in the Company in the ordinary course of its business. 

Section 6.7 No Liability for Election of Recommended Directors. No Investor, nor any Affiliate of any Investor, shall have any
liability as a result of designating a Person for election as a director for any act or omission by such designated Person in his or her capacity as a director of the Company, nor shall any Investor have any liability as a result of voting for any
such designee in accordance with the provisions of this Agreement. 
 Section 6.8 Reserved Board Decisions. Notwithstanding
anything to the contrary contained in this Agreement and except for actions reasonably required to exercise rights and otherwise comply with Section 3.5 (to the extent such actions treat all Investors in a like manner), the
Company shall not take and shall not permit its controlled Subsidiaries to take, and, with respect to any other Subsidiaries, shall take all reasonably necessary or desirable actions within the Company’s control (whether in the Company’s
capacity as an equity holder or otherwise) to prevent any of the following actions without the prior affirmative vote of 70% of the Board members present at a meeting at which a quorum is present, such vote to include the affirmative vote of at
least one Non-ECP Director that is not the Chief Executive Officer or President of the Company (a “Board Supermajority”): 

(a) the acquisition, disposition, encumbrance or transfer of any assets of the Company or its Subsidiaries to a third party in a transaction or
series of transactions with a value in excess of $100 million and not in the ordinary course of business other than to one or more wholly owned Subsidiaries of the Company; 

(b) other than (i) budgeted or Board-approved draws and repayments under existing debt facilities, (ii) trade credit incurred in the
ordinary course of business and (iii) portfolio-level or Subsidiary financings that are on a non-recourse basis to the Company (other than any such financings in this clause (iii) entered into with
any Investor or its Affiliates (determined without regard to the last sentence of the definition of “Affiliate”)), the incurrence, assumption, prepayment, voluntary prepayment or redemption of any indebtedness, including guarantees, or the
entering into of finance or operating leases by the Company or its Subsidiaries in a transaction or series of transactions in excess of $100 million (except for refinancings on market terms); 

(c) the issuance of any Securities (other than pursuant to an Equity Incentive Plan or the Purchase and Exchange Agreement) of the Company or
any Subsidiary of the Company to any Person other than the Company or any wholly owned Subsidiary of the Company; 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 32 

 (d) the approval, declaration or making of any dividend payment of the cash proceeds of the
issuance of Preferred Stock under the Purchase and Exchange Agreement to any Person other than the Company or any wholly owned Subsidiary of the Company; 

(e) the approval or adoption of an annual budget or making any changes to an approved annual budget, provided, that if within 30 days
after commencement of any fiscal year an annual budget has not been approved pursuant to this Section 6.8(e) for such fiscal year, then the Company shall (i) other than with respect to capital expenditures, continue to
operate pursuant to the annual operating budget for the previous fiscal year with a variance of no greater than 5% in the aggregate and no greater than 10% on any given line item and (ii) only incur capital expenditures to the extent necessary
to comply with law or regulatory requirements or for emergency expenses; 
 (f) the incurrence of expenses that would result in either
(i) aggregate expenses exceeding the amount budgeted therefor in the approved annual budget by 10% or more, or (ii) individual line item expenses exceeding the amount budgeted therefor in the approved annual budget by 25% or more; 

(g) engaging in any line of business substantially different from those lines of business conducted by the Company and any of its Subsidiaries
on the date hereof; 
 (h) entering into, amending, modifying or consummating any transaction, agreement or arrangement, directly or
indirectly, with or for the benefit of a director, officer, employee, shareholder or other Affiliate of the Company or any of its Subsidiaries (in each case, other than any such transaction, agreement or arrangement with a Subsidiary of the
Company), other than any one or more series of related transactions, agreements or arrangements (i) that involve consideration in an amount not exceeding $1,000,000 annually or $2,000,000 in the aggregate and (ii) entered into in the
ordinary course of business and on terms and conditions to the Company or the applicable Subsidiary not less favorable, in the aggregate, than the terms and conditions which would apply in a similar transaction negotiated on an arms-length basis
with an unaffiliated third party, provided, however, that (A) for purposes of this Section 6.8(h), the vote of any interested director (including any director who is a director, officer, employee,
relative of or similarly affiliated with a person with an interest in the applicable transaction, agreement or arrangement) shall be excluded and approval of the proposed transaction shall require the affirmative vote of 70% of the Board members
that are not interested directors and (B) the Investors hereby approve, and a Board Supermajority shall be deemed to have approved, the documents set forth on Schedule II; or 

(i) entry into any agreement or commitment with respect to any of the foregoing. 

Section 6.9 Reserved Investor Decisions. Notwithstanding anything to the contrary contained in this Agreement and except for
actions reasonably required to exercise rights and otherwise comply with Section 3.5 (to the extent such actions treat all Investors in a like manner), the Company shall not take and shall not permit its controlled Subsidiaries to take, and,
with respect to any other Subsidiaries, shall take all reasonably necessary or desirable actions within the Company’s control (whether in the Company’s capacity as an equity holder or otherwise) to prevent, any of the following actions
without the prior affirmative vote of the Requisite Investors (on a fully-diluted as-converted basis): 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 33 

 (a) amending or altering, or repealing, this Agreement or any amendment of the
Company’s or its Subsidiaries’ organizational documents which disproportionately and negatively impacts any Investor or group of Investors; 

(b) increasing or decreasing the size of the Board except as otherwise expressly provided for in this Agreement; 

(c) filing for voluntary Bankruptcy of the Company; 

(d) appointing or removing the Company’s auditors or approving any material change in the accounting methods or tax policy of the Company
(except as required by any governmental entity or applicable law or regulation, or as may be required under U.S. GAAP); or 
 (e)
consummating a Sale of the Company. 
 Section 6.10 Vote to Increase Authorized Common Stock. Each Investor shall vote all of
his, her or its Sunnova Securities and shall take all other necessary or desirable actions within his, her or its control (whether in such Investor’s capacity as a shareholder of the Company or otherwise, and including attendance at meetings in
person or by proxy for purposes of obtaining a quorum and execution of written consents in lieu of meetings), and the Company shall take all necessary and desirable actions within its control (including calling special Board and shareholder
meetings), to increase the number of authorized shares of Common Stock from time to time as necessary to ensure that there will be sufficient shares of Common Stock available (i) for conversion of all of the shares of Preferred Stock
outstanding at any given time and (ii) for the Company to satisfy its indemnity obligations under the Purchase and Exchange Agreement. 

ARTICLE VII 
 COVENANTS
OF THE COMPANY 
 Section 7.1 Information Rights. The Company shall deliver to each Principal Investor: 

(a) as soon as available, but in any event within one hundred twenty (120) days after the end of each fiscal year of the Company,
comparative financial statements as of and for the most recent fiscal year of the Company and the immediately preceding fiscal year, including a consolidated balance sheet of the Company and its Subsidiaries as at the end of such fiscal year, a
statement of retained earnings, an income statement and a statement of cash flows for such period, all in reasonable detail, prepared in accordance with U.S. GAAP, audited by an independent public accounting firm, and accompanied by an
auditor’s report prepared in accordance with U.S. GAAP, which shall state that (i) the financial statements have been prepared in accordance with U.S. GAAP applied on a basis consistent with that of the preceding fiscal year, and present
fairly and accurately the financial position of the Company and its Subsidiaries as of their date and the results of operations and cash flows for the periods covered thereby and (ii) the audit by such accountants in connection with such
financial statements has been made in accordance with U.S. GAAP; 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 34 

 (b) as soon as available, but in any event within sixty (60) days after the end of each
of the first three fiscal quarters of each year, unaudited financial statements as of and for the most recent fiscal quarter, including a consolidated balance sheet of the Company and its Subsidiaries as at the end of each such period, an income
statement and a statement of cash flows for such period, all in reasonable detail, prepared in accordance with U.S. GAAP, and, in the case of the first, second and third fiscal quarterly periods, for the period from the beginning of the current
fiscal year to the end of such quarterly period, setting forth in each case, in comparative form, the figures for the corresponding period of the previous fiscal year, all in reasonable detail and certified by the chief financial officer of the
Company that such financial statements were prepared in accordance with U.S. GAAP applied on a basis consistent with that of preceding periods and, except as otherwise stated therein, fairly present the financial position of the Company and its
Subsidiaries as of their date and the results of operations and cash flows for the periods covered thereby, subject to (i) there being no footnotes contained therein and (ii) any changes resulting from
year-end audit adjustments; and 
 (c) as soon as available, but in any event within thirty
(30) days after the end of each month, an unaudited consolidated balance sheet of the Company and its wholly owned Subsidiaries as at the end of each such month, an income statement and a statement of cash flows of the Company and its wholly
owned Subsidiaries for such period and, in each case, for the period from the beginning of the current fiscal year to the end of such monthly period, setting forth in each case, in comparative form, the figures for the corresponding period of the
previous fiscal year, all in reasonable detail, provided, however, that the Company shall use commercially reasonable efforts to cause its non-wholly owned Subsidiaries to produce the monthly
financial statements described above and to the extent such Subsidiaries produce such monthly financial statements, the Company shall, to the extent not prohibited by applicable law or confidentiality obligations, provide to Investors such monthly
financial statements as soon as available, but in any event within thirty (30) days after receipt of such financial statements. 

Section 7.2 Inspection Rights. The Company will permit each Principal Investor holding Sunnova Securities representing at least
five percent (5)% of the outstanding Common Stock of the Company on a fully-diluted as-converted basis and such Persons as it may designate, at such Investor’s expense, to examine its books and records
and discuss the affairs, finances and accounts of the Company with the Company’s officers, employees and public accountants (and the Company hereby authorizes said accountants to discuss with such holder and such designees such affairs,
finances and accounts), during normal business hours and upon reasonable notice. 
 Section 7.3 Budget Process. The Company
shall cause the appropriate members of the Company’s management to prepare and deliver to the Board, at least forty-five (45) days before the last day of each fiscal year, a draft budget for the Company’s upcoming fiscal year. 

ARTICLE VIII 
 CERTAIN
TAX MATTERS 
 Section 8.1 Certain Tax Matters. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 35 

 (a) If reasonably requested by any Investor in writing, the Company shall within a
reasonable period of time provide such Investor with a duly executed statement pursuant to Treasury Regulation Section 1.897-2(h) informing such Investor whether or not the Sunnova Securities held by such
Investor constitute a “United States real property interest” (and shall comply with the related notice requirements in Treasury Regulation Section 1.897-2(h)(2)). 

(b) The Company hereby agrees not to treat the Preferred Stock as “preferred stock” for purposes of Section 305 of the Code. In
addition, the Company hereby agrees not to treat the Accruing Series A Preferred Dividends or the Series B PIK Accretion (each as defined in the Restated Certificate) as dividends or as distributions of the Company’s stock or distributions of
property for purposes of Sections 301 and 305 of the Code, unless and until such Accruing Series A Preferred Dividends or Series B PIK Accretion are actually declared and paid by the Company in cash. The Company shall prepare and file all tax
information reports and other returns in a manner consistent with this Section 8.1(b). 
 (c) [Reserved]. 

(d) Each Investor agrees to provide the Company from time to time with any information available to such Investor that is reasonably requested
by the Company and reasonably necessary for the Company to determine whether the Company is a “tax-exempt” controlled entity within the meaning of Section 168(h)(6)(F)(iii) of the Code.
Notwithstanding the foregoing, it is understood and agreed that (i) no Investor will be required by the previous sentence to provide any information that is not in its possession at the time such Investor receives the request from the Company
and (ii) no Investor has a duty under this Section 8.1(d) to make inquiries of its direct or indirect owners. 

ARTICLE IX 
 TERMINATION
OF AGREEMENT 
 Section 9.1 Events of Termination. Except as expressly provided herein, this Agreement shall automatically
terminate upon the first to occur of (a) a Sale of the Company and (b) a Qualified Public Offering of the type described in clause (i) of the definition of such term. 

Section 9.2 Transfer of All Securities. Upon the Transfer in accordance with the terms of this Agreement by any Investor of all
Sunnova Securities owned by such Investor, such Investor shall have no further rights or privileges under this Agreement or otherwise be entitled to the benefits hereof. However, such Transfer shall not relieve such Investor or the Investor’s
successors or assigns from liability hereunder in the event of a breach by any such Investor of the Investor’s duties hereunder prior to such Transfer. 

ARTICLE X 
 MISCELLANEOUS
PROVISIONS 
 Section 10.1 Entire Agreement. This Agreement (including the Exhibits hereto), the Restated Certificate, the
Restated Bylaws and the other Transaction Agreements contain the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersede all prior agreements and understandings relating to such subject
matter. No party shall be liable or bound to any other party in any manner by any representations, warranties or covenants relating to such subject matter except as specifically set forth in this Agreement (including the Exhibits hereto), the
Restated Certificate, the Restated Bylaws and the other Transaction Agreements. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 36 

 Section 10.2 Successors and Assigns. The terms and conditions of this Agreement
shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors
and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

Section 10.3 Amendments; Waivers. 

(a) Except as expressly set forth herein, the provisions of this Agreement may only be amended with the prior written consent of the Requisite
Investors; provided, however, that the Company may update Schedule I from time to time, without consent, to reflect Transfers of Sunnova Securities made in accordance with this Agreement, and the Company will, from time
to time, distribute to the Investors a revised Schedule I to reflect any such updates; provided, further, that the Company may enter into one or more Joinder Agreements to reflect Transfers permitted by this Agreement;
provided, further that (i) any amendment that by it terms affects the rights or obligations of any Principal Investor in a manner that is materially adverse to such Principal Investor and substantially different relative to the
other Investors shall require the written consent of such Principal Investor and (ii) the prior written consent of the Company shall be required, in the event that any such amendment imposes a burden or obligation on the Company or adversely
affects a benefit or right of the Company under this Agreement. 
 (b) Any waiver, permission, consent or approval of any kind or nature by
any party hereto, of any breach or default under this Agreement, or any waiver of any provision of this Agreement by any party hereto, must be in writing and shall be effective only in the specific instance and for the specific purpose given, and
shall be effective only to the extent in such writing specifically set forth, and the same shall not operate or be construed as a waiver of any subsequent breach, default, provision or condition of this Agreement by any party hereto, including the
party to whom originally given. No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof
or the exercise of any other right, power or privilege. 
 Section 10.4 Notices. All notices or other communications required or
permitted to be given hereunder shall be in writing and shall be deemed effectively given upon the earlier of actual receipt, or (a) when so delivered by hand, (b) when sent, if sent by electronic mail or facsimile during normal business
hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day, (c) if by registered or certified mail, return receipt requested, postage prepaid, three days after mailing or (d) one
(1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt, as follows or to such other address as shall be given in writing by any
party to the other: 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 37 

 If to the Company, to: 

Sunnova Energy Corporation 
 20
East Greenway Plaza, Suite 475 
 Houston, Texas 77046 

Attention: Chief Executive Officer 

If to an Investor, to the address set forth on Schedule I, or to such other address as the Party to whom such notice or other
communication is to be given may have furnished to each other Party in writing in accordance herewith. 
 Each of the ECP Investors has designated the ECP
Representative to act as its representative with respect to the making of, and the delivery and receipt of, all notices, elections, approvals, requests or other instructions or determinations (each, a “Notice”) and to otherwise act
on behalf of any or all of the ECP Investors with respect to any Notices delivered in connection with this Agreement. The ECP Investors shall cause the ECP Representative to act at the direction of the ECP Investors holding a majority of Sunnova
Securities (calculated on a fully-diluted as-converted basis) held by all of the ECP Investors with respect to all such Notices. Each of the Company and the other Investors shall direct any Notice to be made
to any ECP Investor to the ECP Representative and agree that any Notice delivered under this Agreement by the ECP Representative shall be deemed to be a Notice delivered by the ECP Investors. Any Notice made to the ECP Representative (referencing
the ECP Investors) shall be deemed to have been made to the ECP Investors in the form and at the time made to the ECP Representative. 

Section 10.5 Equitable Remedies. The Sunnova Securities are agreed to be unique, and recognizing that the remedy at law for any
breach or threatened breach by a party hereto of the covenants and conditions set forth herein would be inadequate, and further recognizing that any such breach or threatened breach would cause immediate, irreparable and permanent damage to the
parties, the extent of which would be impossible or difficult to ascertain, the parties hereto agree that in the event of any such breach or threatened breach, and in addition to any and all remedies at law or otherwise provided herein, any party
hereto may specifically enforce the terms of this Agreement and may obtain temporary and/or permanent injunctive relief (including a mandatory injunction) without the necessity of proving actual damage or the lack of an adequate remedy at law and,
to the extent permissible under applicable rules, provision and statutes, a temporary injunction may be granted immediately upon the commencement of any suit hereunder regardless of whether the breaching party or parties have actually received
notice thereof. Such remedy shall be cumulative and not exclusive, and shall be in addition to any other remedy or remedies available to the parties. 

Section 10.6 Confidentiality. Each Investor agrees to, and shall instruct its Affiliates, directors, officers, employees, agents,
advisors and representatives (“Representatives”) to, hold confidential, and not knowingly and deliberately use in any manner detrimental to the Company or any of its Subsidiaries, all information they may have or obtain concerning
the Company or any of its Subsidiaries and their respective assets, business, operations, financial performance or 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 38 

 
prospects or the arrangements among the Investors and the Company (“Confidential Information”), provided, however, that the term “Confidential Information” does not
include information that (a) is already in such party’s possession, provided that such information is not subject to another confidentiality agreement with or other obligation of secrecy to any Person known to such party, (b) is or
becomes generally available to the public other than as a result of a disclosure, directly or indirectly, by such party or such party’s Representatives, (c) is or becomes available to such party on a
non-confidential basis from a source other than any of the parties hereto or any of their respective Representatives, provided that such source is not known by such party to be bound by a confidentiality
agreement with or other obligation of secrecy to any Person or (d) is developed by such Person without the use of Confidential Information, provided further, however, that nothing herein shall prevent any party hereto from disclosing
Confidential Information (i) upon the order of any court or administrative agency, (ii) upon the request or demand of any regulatory agency or authority having jurisdiction over such party, (iii) to the extent required by law or
regulation (it being understood and agreed that, in the case of clause (i), (ii) or (iii), unless prohibited by law, regulation or any regulatory authority or in the case of required periodic disclosure under applicable securities laws, to the
extent not prohibited by applicable law, such party shall notify the other parties hereto of the proposed disclosure as far in advance of such disclosure as practicable and use reasonable efforts to ensure that any information so disclosed is
accorded confidential treatment, when and if available), (iv) to the extent necessary in connection with any suit, action or proceeding relating to this Agreement or the exercise of any remedy hereunder, (v) to such party’s Representatives
that need to know such information and who agree to keep such information confidential on the terms set forth in this Section 10.6, (vi) to potential purchasers of the Company or of the Sunnova Securities held by an
Investor, (vii) to potential investors in connection with fundraising purposes on the part of an Investor (or its controlling equity holder or any Person who manages, advises or sub-advises such
Investor), (viii) to the limited partners, investors or other direct or indirect equity owners of, or prospective investors of, such party or its Affiliates or its or their Representatives or (ix) to the current or prospective financing sources
of an Investor, provided that, prior to disclosing any Confidential Information to a potential purchaser or investor pursuant to clauses (vi), (vii), (viii) or (ix), such potential purchaser or investor will have entered into a customary
confidentiality agreement. Notwithstanding the foregoing, in the event that an Investor instructs its Representatives to comply with this Section 10.6 and such Representative fails to comply, the Investor shall be fully
liable for any breach of this Section 10.6 by its Representatives as though committed by the Investor itself. The obligations of each Investor under this Section 10.6 shall terminate on the one
(1) year anniversary of first to occur of (I) the date such Investor ceases to be a party to this Agreement and (II) the termination of this Agreement. 

Section 10.7 Public Announcements. Each party hereto will coordinate in good faith any and all press releases and other public
relations matters with respect to this Agreement, the Purchase and Exchange Agreement and the transactions contemplated hereby and thereby. Unless otherwise required by law or the rules of any stock exchange or regulatory authority, no party hereto
may issue any press release or otherwise make any public announcement or comment on this Agreement, the Purchase and Exchange Agreement or the transactions contemplated hereby or thereby without prior written consent of the Requisite Investors,
provided that unless otherwise required by law or the rules of any stock exchange or regulatory authority no such press release, public announcement or comment shall identify any Investor or its Affiliates or otherwise make any public
statement with respect to any Investor or its Affiliates without the prior written consent 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 39 

 
of such Investor; provided, further that nothing in this Section 10.7 shall prohibit the Investors or any of their Affiliates or Representatives from making
disclosures of customary information regarding the transactions contemplated by this Agreement, the Investors’ investment in the Company, the financial performance and operations of the Company and its Subsidiaries and such other information
relevant to the Investors’ investment in the Company to the limited partners, investors or other direct or indirect equity owners of, or prospective investors of, the Investors or their Affiliates who are under customary duties or obligations
of confidentiality. 
 Section 10.8 Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance
with the internal laws of the State of Delaware without regard to the conflicts of law principles of such State. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the courts of the State of Delaware sitting in
New Castle County and to the jurisdiction of the United States District Court sitting in Wilmington, Delaware for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any
suit, action or other proceeding arising out of or based upon this Agreement except in the courts of the State of Delaware sitting in New Castle County or the United States District Court sitting in Wilmington, Delaware and (c) hereby waive,
and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from
attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such
court. 
 Section 10.9 WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION AGREEMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL
DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS.
THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL
AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 
 Section 10.10
No Third Party Beneficiaries. Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give any Person, other than the parties hereto, and their permitted successors and assigns, any right or remedies
under or by reason of this Agreement, except as expressly provided herein. 
 Section 10.11 No Voting Trusts. No Investor shall
grant any proxy or become a party to any voting trust or other agreement which is inconsistent with, conflicts with or violates any provision of this Agreement. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 40 

 Section 10.12 Further Assurances. The parties shall execute and deliver all
documents, provide all information and take or refrain from taking such actions as may be reasonably necessary or appropriate to achieve the purposes of this Agreement. 

Section 10.13 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to
be considered in construing or interpreting this Agreement. 
 Section 10.14 Other Interpretive Matters. For purposes of this
Agreement, (a) when calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period is excluded, and if
the last day of such period is a non-Business Day, the period in question ends on the next succeeding Business Day, (b) unless the context otherwise requires, all references in this Agreement to any
“Article,” “Section” or “Exhibit” are to the corresponding Article, Section or Exhibit of this Agreement, (c) the word “including,” or any variation thereof, means “including, without
limitation” and does not limit any general statement that it follows to the specific or similar items or matters immediately following it and (d) all references to dollar amounts are expressed in United States Dollars. As used herein, the
singular shall include the plural, the plural shall include the singular and any use of the male or female gender shall include the other gender, all wherever the same shall be applicable and when the context shall admit or require. 

Section 10.15 Severability. If any provision of this Agreement (or any portion thereof) or the application of any such provision
(or any portion thereof) to any Person or circumstance shall be held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision hereof
(or the remaining portion thereof) or the application of such provision to any other Persons or circumstances. 
 Section 10.16
Spousal Consent. Each Investor who is an individual and is married as of the date hereof or the date of execution of a Joinder Agreement represents and warrants that he or she has delivered to the Company the spousal consent in the form
attached hereto as Exhibit B (a “Spousal Consent”), executed by his or her spouse. Additionally, to the extent not previously delivered and if requested by the Company, each Investor who is an individual shall cause his or
her spouse, as applicable, to execute and deliver a Spousal Consent. The signature of a spouse on a Spousal Consent shall not be construed as making such spouse a shareholder of the Company or a party to this Agreement except as may otherwise be set
forth in such consent. Each Investor who is an individual will certify his or her marital status to the Company at the Company’s request. 

Section 10.17 Attorneys’ Fees. If any action at law or in equity (including arbitration) is necessary to
enforce or interpret the terms of any of the Transaction Agreements, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled.

 Section 10.18 Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under
this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting
party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of any similar breach or default thereafter occurring, nor shall any waiver 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 41 

 
of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part
of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such
writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

Section 10.19 Opportunities. The Company, on behalf of itself and its Subsidiaries, and each of the Investors
(a) acknowledges and affirms that the Principal Investors (other than the Management Investors) and their Affiliates and Representatives, including any director of the Company, (i) have participated (directly or indirectly) and will
continue to participate (directly or indirectly) in private equity, venture capital and other direct investments in corporations, joint ventures, limited liability companies and other entities (“Other Investments”), including Other
Investments engaged in various aspects of the power generating business (and related services businesses) that may, are or will be competitive with the Company’s business or that could be suitable for the Company; (ii) have interests in,
participate with, aid and maintain seats on the board of directors or similar governing bodies of, Other Investments; (iii) may develop or become aware of business opportunities for Other Investments; and (iv) may or will have conflicts of
interest or potential conflicts of interest; (b) hereby renounces and disclaims any interest or expectancy in any business opportunity (including any Other Investments or any other opportunities that may arise in connection with the
circumstances described in the foregoing clauses (i) – (iv)) (collectively, the “Renounced Business Opportunities”); and (c) acknowledges and affirms that none of the Principal Investors (other than the Management
Investors) or any of their Affiliates or Representatives, including any director of the Company, shall have any obligation to communicate or offer any Renounced Business Opportunity to the Company, and any of the Principal Investors (other than the
Management Investors) or their Affiliates or Representatives may pursue a Renounced Business Opportunity. 
 Section 10.20
Employment Rights. Nothing contained in this Agreement (a) obligates the Company or any Affiliate of the Company to employ any Management Investor in any capacity whatsoever or (b) prohibits or restricts the Company or any Affiliate
of the Company from terminating the employment, if any, of any Management Investor at any time or for any reason whatsoever. Each Management Investor hereby acknowledges and agrees that, except as may otherwise be set forth in any written agreement
between the Company and such Management Investor, neither the Company nor any other person has made any representations or promises whatsoever to such Management Investor concerning his or her employment or continued employment by the Company or any
Affiliate of the Company. 
 Section 10.21 Offsets. The Company shall be permitted, to the extent not prohibited by
Section 409A of the Code, to offset and reduce from any amounts payable to a Management Investor the amount of any indebtedness or other obligation or payment owing to the Company by the Management Investor. 

Section 10.22 Counterparts and Signatures. This Agreement may be executed in one or more counterparts, all of which shall be
considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the parties and delivered to the other parties. A facsimile, electronic mail (including pdf or any electronic signature
complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall have the same force and effect as an original signature. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 42 

 Section 10.23 Effectiveness. The First Amended and Restated Agreement is hereby
amended, restated and superseded in all respects by this Agreement. 
 *
            *             * 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 43 

 Execution Version 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized officers or agents, or by
themselves, as of the date first set forth above. 
  

			
	SUNNOVA ENERGY CORPORATION
		
	By:	 	 /s/ William J. Berger

		 	Name: William J. Berger
		 	Title: Chief Executive Officer

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
					
	ELK MOUNTAIN, LTD.
		
	By:	 	Gordy Oil Company, its general partner
			
		 	By:	 	 /s/ Russell D. Gordy

		 		 	Name: Russell D. Gordy
		 		 	Title: President

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Lynda K. Attaway

	Lynda K. Attaway

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
					
	JACKSON LEIGH VENTURES, LLC
		
	By:	 	 /s/ William J. Berger

		 	Name:	 	William J. Berger
		 	Title:	 	

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Gerritt L. Ewing, Jr.

	Gerritt L. Ewing, Jr.

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Jordan E. Frugé

	Jordan E. Frugé

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	MOELLER INVESTMENT FAMILY
	LIMITED PARTNERSHIP
		
	By:	 	Racing Cloud Consulting LLC
		 	Its general partner
		
	By:	 	 /s/ Debra Moeller

		 	Name: Debra Moeller
		 	Title: President

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Esmeralda Martinez

	Esmeralda Martinez

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Mark Poche

	Mark Poche

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Richard A. Rabinow

	Richard A. Rabinow

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	REBECCA RABINOW MANAGEMENT TRUST
		
	By:	 	 /s/ Richard A. Rabinow

		 	Name: Richard A. Rabinow
		 	Title: Trustee

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	1811 PESIKOFF FAMILY TRUST
		
	By:	 	  

		 	Name:                                     
                                         
    
		 	Title:                                     
                                         
      

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	TRIANGLE PEAK PARTNERS II, LP
		
	By:	 	 /s/ Michael C. Morgan

		 	Name: Michael C. Morgan
		 	Title: Manager

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	SEIS HOLDINGS LLC
		
	By:	 	 /s/ Ronald H. Jacob, Jr.

		 	Name: Ronald H. Jacob, Jr.
		 	Title: President

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	CGK HOLDINGS LLC
		
	By:	 	 /s/ David Kinder

		 	Name: David Kinder
		 	Title: President

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (DAPER II)
		
	By:	 	  

		 	Name:                                     
                                         
    
		 	Title:                                     
                                         
      

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	MTP ENERGY MASTER FUND LTD.
		
	By:	 	MTP Energy Management LLC
		 	Its Investment Manager
		
	By:	 	Magnetar Financial LLC
		 	Its Sole Member
		
	By:	 	 /s/ Benjamin Paull

		 	Name: Benjamin Paull
		 	Title: Chief Financial Officer

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	BCP-IIIJ, LP, A TEXAS LIMITED PARTNERSHIP
		
	By:	 	Brock Capital Group, LLC,
		 	as general partner
		
	By:	 	  

		 	Name:                                     
                                         
    
		 	Title:                                     
                                         
      
	
	BCP-IVC, LP, A TEXAS LIMITED PARTNERSHIP
		
	By:	 	Brock Capital Group, LLC,
		 	as general partner
		
	By:	 	  

		 	Name:                                     
                                         
    
		 	Title:                                     
                                         
      

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	PORTCULLIS PARTNERS, LP
		
	By:	 	Portcullis G.P., LLC,
		 	Its general partner
		
	By:	 	  

		 	Name:                                     
                                         
    
		 	Title:                                     
                                         
      

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Fayez Sarofim

	Fayez Sarofim

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	FSI NO. 2 CORPORATION
		
	By:	 	  

		 	Name:                                     
                                         
    
		 	Title:                                     
                                         
      

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ William J. Berger

	William J. Berger

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	FS INVESTMENT CORPORATION
		
	By:	 	GSO/Blackstone Debt Funds
		 	Management LLC as Sub-Adviser
		
	By:	 	 /s/ Marisa Beeney

		 	Name: Marisa Beeney
		 	Title: Authorized Signatory

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	FS INVESTMENT CORPORATION II
		
	By:	 	GSO/Blackstone Debt Funds
		 	Management LLC as Sub-Adviser
		
	By:	 	 /s/ Marisa Beeney

		 	Name: Marisa Beeney
		 	Title: Authorized Signatory

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	FS INVESTMENT CORPORATION III
		
	By:	 	GSO/Blackstone Debt Funds
		 	Management LLC as Sub-Adviser
		
	By:	 	 /s/ Marisa Beeney

		 	Name: Marisa Beeney
		 	Title: Authorized Signatory

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	FS ENERGY AND POWER FUND
		
	By:	 	GSO Capital Partners LP as Sub-Adviser
		
	By:	 	 /s/ Marisa Beeney

		 	Name: Marisa Beeney
		 	Title:  Authorized Signatory

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	GLADWYNE FUNDING LLC
		
	By:	 	FS Energy and Power Fund, as Sole Member and by GSO Capital Partners LP, as Sub-Adviser
		
	By:	 	 /s/ Marisa Beeney

		 	Name: Marisa Beeney
		 	Title: Authorized Signatory

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	ORIX PUBLIC FINANCE, LLC
		
	By:	 	  

		 	Name:                                     
                                         
    
		 	Title:                                     
                                         
      

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	MINION TRAIL, LTD.
		
	By:	 	 /s/ Russell D. Gordy

		 	Name: Russell D. Gordy
		 	Title: President, Gordy Oil & C., General Partner

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Brian Kerrigan

	Brian Kerrigan

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ David Kinder

	David Kinder

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Todd A. Reppert

	Todd A. Reppert

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Kevin T. Howell

	Kevin T. Howell

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
	
	 /s/ Michael Snyder

	Michael Snyder

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
			
	BA AND MS KERRIGAN, LLC
		
	By:	 	  

		 	Name:                                     
                                         
    
		 	Title:                                     
                                         
      

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
					
	ENERGY CAPITAL PARTNERS III, LP
		
	By:	 	Energy Capital Partners GP III, LP
	Its:	 	General Partner
			
		 	By:	 	Energy Capital Partners III, LLC
		 	Its:	 	General Partner
			
		 	By:	 	ECP ControlCo, LLC
		 	Its:	 	managing member
		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Partner
	
	ENERGY CAPITAL PARTNERS III-A, LP
		
	By:	 	Energy Capital Partners GP III, LP
	Its:	 	General Partner
			
		 	By:	 	Energy Capital Partners III, LLC
		 	Its:	 	General Partner
			
		 	By:	 	ECP ControlCo, LLC
		 	Its:	 	managing member
		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Partner

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
					
	ENERGY CAPITAL PARTNERS III-B, LP
		
	By:	 	Energy Capital Partners GP III, LP
	Its:	 	General Partner
			
		 	By:	 	Energy Capital Partners III, LLC
		 	Its:	 	General Partner
			
		 	By:	 	ECP ControlCo, LLC
		 	Its:	 	managing member
		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Partner
	
	ENERGY CAPITAL PARTNERS III-C, LP
		
	By:	 	Energy Capital Partners GP III, LP
	Its:	 	General Partner
			
		 	By:	 	Energy Capital Partners III, LLC
		 	Its:	 	General Partner
			
		 	By:	 	ECP ControlCo, LLC
		 	Its:	 	managing member
		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Partner

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 
					
	ENERGY CAPITAL PARTNERS III-D, LP
		
	By:	 	Energy Capital Partners GP III, LP
	Its:	 	General Partner
			
		 	By:	 	Energy Capital Partners III, LLC
		 	Its:	 	General Partner
			
		 	By:	 	ECP ControlCo, LLC
		 	Its:	 	managing member
		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Partner
	
	ENERGY CAPITAL PARTNERS III (SUNNOVA CO-INVEST), LP
		
	By:	 	Energy Capital Partners GP III, LP
	Its:	 	General Partner
			
		 	By:	 	Energy Capital Partners III, LLC
		 	Its:	 	General Partner
			
		 	By:	 	ECP ControlCo, LLC
		 	Its:	 	managing member
		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Partner

 [Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 EXHIBIT A 

FORM OF JOINDER AGREEMENT 

This JOINDER AGREEMENT (this “Agreement”), dated as of _________________________________, 20____, is entered into by
and between Sunnova Energy Corporation, a Delaware corporation (the “Company”) and ____ ____________ (“Joining Party”). 

All defined terms not otherwise defined herein have the meanings ascribed to such terms in the Investors Agreement (as hereinafter defined).

 RECITALS 

WHEREAS, the Company and certain other shareholders (the “Original Investors”) are parties to a Second Amended and
Restated Investors Agreement dated as of November 9, 2017, pursuant to which the Company and the Original Investors granted each other certain rights (as amended, supplemented and/or restated, the “Investors Agreement”); 

WHEREAS, in accordance with the terms of the Investors Agreement, upon the Transfer of any Sunnova Securities, the Transferee must join
the Investors Agreement as an Investor thereunder; 
 WHEREAS, [Joining Party has purchased] [________ _____ has Transferred to
Joining Party] Sunnova Securities pursuant to [____________________]; and 
 WHEREAS, Joining Party desires to be bound by and
enjoy the benefits of the Investors Agreement. 
 NOW, THEREFORE, for good and valuable consideration, receipt and adequacy of which
are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 
 1. Joining Party acknowledges receipt
of a copy of the Investors Agreement and, after review and examination thereof, agrees to be bound by the restrictions and agreements contained therein in the capacity of an “Investor”. 

2. The Company hereby (a) accepts Joining Party’s agreement to be bound by the Investors Agreement and (b) agrees that Joining
Party is hereby a party to the Investors Agreement and as such shall have all rights provided to Investors under the Investors Agreement. 

3. All notices to the Joining Party should be delivered to the following address: 

[Signature Page to Second Amended and Restated Investors Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 [Name] 

[Address] [Address] 
 Attention:
[_______________________] 
 Tel: [_____________] 

Fax: [_____________] 
 E-mail: [ ] 
 4. The provisions of Article VIII of the Investor Agreement are hereby incorporated
herein as if set forth herein. 
 * * * 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 IN WITNESS WHEREOF, the parties hereto have caused this Joinder Agreement to be duly
executed by their respective authorized officers as of the date first set forth above. 
  

					
	SUNNOVA ENERGY CORPORATION

 
					
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	[JOINING PARTY]
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 [Signature Pages to Joinder Agreement] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 EXHIBIT B 

FORM OF SPOUSAL CONSENT AND PROXY 

The undersigned is the spouse of              , who is party to: 

 

	 	i.	 that certain Amended and Restated Investors Agreement, dated as of November 9, 2017, by and among Sunnova
Energy Corporation, the other parties thereto and each Person who becomes a party thereto from time to time (as amended, supplemented and/or restated from time to time, the “Investors Agreement”); and 

 

	 	ii.	 that certain Registration Rights Agreement, dated as of March 16, 2016, by and among Sunnova Energy
Corporation, the other parties thereto and each Person who becomes a party thereto from time to time (as amended, supplemented and/or restated from time to time, the “Registration Rights Agreement”). 

The undersigned hereby executes this Spousal Consent and Proxy for the purpose of consenting to (i) the Investors Agreement and
(ii) the Registration Rights Agreement and binding any community property interest or marital property interest that he or she may have in any of the Sunnova Securities. By execution hereof, the undersigned represents and warrants that he or
she has read (a) the Investors Agreement, (b) the Registration Rights Agreement and (c) this Spousal Consent and Proxy and consents to each of their terms. 

Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Investors Agreement. 

Date:____________________, 2_____ 
  

			
	  

		
	     Name:
	 	  

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 SCHEDULE I 

INVESTORS 
  

					
	 Name
	  	 Address
	  	 Preferred Stock

	Elk Mountain, Ltd.	  	100 Waugh Drive, #400
Houston, TX 77007	  	7,561,322
			
	Energy Capital Partners III, LP	  	 51 John F Kennedy
 Pkwy #200, Short Hills,

NJ 07078
	  	968,320
			
	Energy Capital Partners III-A, LP	  	 51 John F Kennedy
 Pkwy #200, Short Hills,

NJ 07078
	  	32,596,992
			
	Energy Capital Partners III-B, LP	  	 51 John F Kennedy
 Pkwy #200, Short Hills,

NJ 07078
	  	3,936,621
			
	Energy Capital Partners III-C, LP	  	 51 John F Kennedy
 Pkwy #200, Short Hills,

NJ 07078
	  	13,476,104
			
	Energy Capital Partners III-D, LP	  	 51 John F Kennedy
 Pkwy #200, Short Hills,

NJ 07078
	  	16,631,743
			
	Energy Capital Partners III (Co-Invest), LP	  	 51 John F Kennedy
 Pkwy #200, Short Hills,

NJ 07078
	  	2,817,074
			
	Lynda K. Attaway	  	1116 Rymer Switch
Friendswood, TX 77546	  	20,148
			
	Jackson Leigh Ventures, LLC	  	3775 Arnold St.
Houston, TX 77005	  	
			
	Gerritt L. Ewing, Jr.	  	4110 Blue Bonnet Dr.
Houston, TX 77025	  	19,154
			
	Jordan E. Frugé	  	 730 Omar
  

Houston, TX 77009
	  	29,729
			
	BA and MS Brian Kerrigan, LLC	  	 6139 Doliver Dr.,
 Houston, TX 77057
	  	47,889
			
	Moeller Investment Family Limited Partnership	  	 98 W. Racing Cloud Ct. The
 Woodlands, TX
77381
	  	25,935
			
	Esmeralda Martinez	  	25818 Riverside Creek Dr.
Richmond, TX 77406	  	4,787

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

1 

					
	Mark Poche	  	3411 S. Halls Point Ct.
Missouri City, TX 77459	  	16,519
			
	Richard A. Rabinow	  	3711 San Felipe #12-I
Houston, TX 77027	  	19,157
			
	Rebecca Rabinow Management Trust	  	3711 San Felipe #12-I
Houston, TX 77027	  	23,131
			
	 1811 Pesikoff Family Trust (formerly the
 Sarah
Rabinow Management Trust)
	  	1811 North Blvd.
Houston, TX 77098	  	23,131
			
	Triangle Peak Partners II, LP	  	P.O. Box 3788
Carmel, CA 93921	  	2,052,791
			
	SEIS Holdings LLC	  	501 Bering Dr, #220
Houston, TX 77057	  	1,724,093
			
	CGK Holdings LLC	  	501 Bering Dr. #220
Houston, TX 77057	  	162,835
			
	 The Board of Trustees of the Leland
 Stanford
Junior University (DAPER II)
	  	 635 Knight Way
  

Stanford, CA, 94305-7297
	  	32,789
			
	MTP Energy Master Fund Ltd	  	 c/o MTP Energy Management
 LLC 1603 Orrington
Ave.,
 13th Floor Evanston, IL 60201
	  	1,027,577
			
	BCP-IVC, LP	  	 4349 Crow Rd.
  

Beaumont, TX 77706
	  	1,800,370
			
	BCP-IIIJ, LP	  	 4349 Crow Rd.
  

Beaumont, TX 77706
	  	
			
	FS Investment Corporation	  	 c/o GSO / Blackstone Debt
 Funds Management
LLC
  
 345 Park Avenue, 31st Floor

New York, NY 10154
	  	18,182
			
	FS Investment Corporation II	  	 c/o GSO / Blackstone Debt
 Funds Management
LLC
  
 345 Park Avenue, 31st Floor

New York, NY 10154
	  	36,363

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 2 

					
			
	FS Investment Corporation III	  	 c/o GSO / Blackstone Debt
 Funds Management
LLC
  
 345 Park Avenue, 31st Floor

New York, NY 10154
	  	54,543
			
	FS Energy and Power Fund	  	 c/o GSO / Blackstone Debt
 Funds Management
LLC
  
 345 Park Avenue, 31st Floor

New York, NY 10154
	  	578,468
			
	Gladwyne Funding LLC	  	 2929 Arch Street, Suite 675
 Philadelphia, PA
19104
	  	
			
	Portcullis Partners, LLC	  	 11 Greenway Plaza, Suite 2000
 Houston, TX
77046
	  	108,117
			
	Fayez Sarofim	  	 P.O. Box 52830 Houston,
 TX 77052
	  	119,247
			
	FSI No. 2 Corporation	  	 P.O. Box 52830 Houston,
 TX 77052
	  	119,247
			
	William J. Berger	  	 3775 Arnold
  

Houston, TX 77005
	  	51,729
			
	William J. Berger, IRA	  	 3775 Arnold
  

Houston, TX 77005
	  	16,212
			
	Orix Public Finance	  	 1717 Main Street, Suite 900,
  

Dallas, Texas 75201
	  	51,674
			
	Minion Trail, Ltd.	  	100 Waugh Drive, #400
Houston, TX 77007	  	
			
	Brian A. Kerrigan	  	6139 Doliver Dr., Houston,
TX 77057	  	
			
	David Kinder	  	510 Bering Dr, #220
Houston, TX 77057	  	
			
	Todd A. Reppert	  	 718 W. Creekside Dr.,
 Houston, TX
77024
	  	
			
	Kevin T. Howell	  	1619 S. 2nd St., Austin,
TX 78704	  	
			
	Michael Snyder	  	 1130 Cocoanut Rd.,
 Boca Raton, FL
33432
	  	

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 3 

 Execution Version 

 

 SCHEDULE II 

APPROVED AFFILIATE AGREEMENTS 

Observer Rights Letters dated as of March 16, 2016, between Sunnova Energy Corporation and the investors party thereto. 

Observer Rights Letter dated as of April 26, 2016, between Sunnova Energy Corporation and the investors party thereto. 

VCOC Letters dated as of March 16, 2016, between Sunnova Energy Corporation and each of Energy Capital Partners III, LP, Energy Capital Partners III-A, LP, Energy Capital Partners III-B, LP, Energy Capital Partners III-C, LP, and Energy Capital Partners III-D, LP. 
 Purchase Order of Seller with NextGrid Technologies LLC, issued May 12, 2015, pertaining to $2,818,080
of meters. 
 Letter of Intent between Seller and NextGrid Technologies, LLC dated June 23, 2015, relating to the provision of Novaquotes Support and
Development services to Seller. 
 Letter of Intent between Seller and NextGrid Technologies, LLC dated June 23, 2015, relating to the provision of
distribution and pre-provisioning services to Seller. 
 Letter of Intent between Seller and NextGrid Technologies,
LLC dated June 23, 2015, relating to the agreement between the parties to continue to develop and negotiate a Master Services Agreement to govern the services, rights and obligations of both parties. 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 Exhibit B 

New Subordinated Indebtedness Note 

[Attached] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Execution Version 

 

 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
OR ANY STATE SECURITIES LAWS, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT OR AN
AVAILABLE EXEMPTION UNDER THE SECURITIES ACT OF 1933 AND COMPLIANCE WITH STATE SECURITIES LAWS. 
 SUBORDINATED CONVERTIBLE PROMISSORY
NOTE 
 (Bridge Loan Note – Sunnova) 

$15,000,000.00 (plus any amounts owing in respect of PIK Interest as set forth on Schedule I) 

Effective as of August 25, 2017 

New York, New York 
 FOR VALUE
RECEIVED, Sunnova Energy Corporation, a Delaware corporation (“Maker”), having a notice address of 20 E. Greenway Plaza, Suite 475, Houston, Texas 77046, hereby promises to pay pursuant to this promissory note (this
“Note”) to Energy Capital Partners III, LP, Energy Capital Partners III-A, LP, Energy Capital Partners III-B, LP, Energy Capital Partners III-C, LP and Energy Capital Partners III-D, LP (collectively, the “Holders” and, each individually, a “Holder”), on the earlier of
(i) the first date on which all of the 12.00% Senior Secured Notes due 2018 (the “2018 Notes”) issued pursuant to the Indenture, dated as of April 24, 2017 (the “Indenture”), by and between the Company and
Wilmington Trust, National Association, as trustee (the “2018 Notes Trustee”) and collateral trustee, have been repaid in full and are no longer outstanding, and (ii) November 30, 2018 (such date being referred to as the
“Maturity Date”), the principal amounts set forth on Schedule I hereto next to each such Holder’s name, together with any and all accrued and unpaid interest on such outstanding principal amounts; provided, that,
notwithstanding the foregoing all amounts payable hereunder shall become immediately due and payable upon (x) the institution of, or material development under, bankruptcy proceedings under the U.S. Bankruptcy Code or similar proceedings under
state or federal law with respect to the Maker (subject to the Subordination Provisions (as defined below)) or (y) the initial funding under the Facility (as defined below); provided further, that, all amounts outstanding under the 2018
Notes are repaid and all obligations thereunder are extinguished in full in connection and contemporaneously with such initial funding. 

Interest shall accrue from the effective date hereof until the entire balance is paid (or converted, as provided below) on the unpaid
principal balance of this Note at the interest rate (“Interest Rate”) of twelve percent (12%) per annum. Interest shall be paid quarterly in arrears on March 31, June 30, September 30 and December 31 of each
year, until and including the Maturity Date, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes shall accrue from the most recent Interest Payment
Date or, if no interest has been paid, from the date of issuance. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. At all
times prior to the repayment of the 2018 Notes, interest shall be payable solely by increasing the then outstanding principal amount of this Note by the entire amount of the interest payment due on the applicable Interest Payment

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
Date (“PIK Interest”). Following an increase in the principal amount of this Note on the applicable Interest Payment Date by the amount of the PIK Interest, this Note will bear
interest on such increased principal amount from and after such Interest Payment Date. For clarity, unless the context otherwise requires, references to any principal amount of this Note includes any increase in the principal amount of this Note as
a result of the payment of PIK Interest. Upon the occurrence of the Maturity Date, all unpaid principal, accrued interest and other amounts owing hereunder shall be immediately due, payable and collectible by the Holders pursuant to applicable law.
This Note shall not, under any circumstances, be payable in cash, except on and after the repayment in full of the 2018 Notes. 

Notwithstanding any provision to the contrary herein, Maker may not, at any time, prepay all or any portion of this Note, except in connection
with (x) any conversion into shares of the Company’s Convertible Preferred Stock pursuant to the terms hereof or (y) repayment in connection and contemporaneously with the initial funding of the Facility (as defined in the term sheet
attached hereto as Exhibit A) pursuant to the terms hereof. 
 Unless earlier converted, on and after the Maturity Date, an amount
equal to the principal amount of this Note and any accrued and unpaid interest, in each case, as of the Maturity Date, shall be payable in lawful money of the United States of America and in immediately available funds at the office of each Holder
set forth on Schedule I, unless another place of payment shall be specified in writing by a Holder to Maker. Notwithstanding the foregoing, upon and subject to the affirmative written election of the Majority Holders (as defined below)
delivered to the Maker not later than five (5) business days prior to the date of conversion, the entire balance then outstanding hereunder shall be converted into that number of shares of the Company’s Convertible Preferred Stock as is
equal to (i) an amount equal to the principal amount of this Note and any accrued and unpaid interest, in each case, as of the date of conversion, divided by (ii) the lesser of $5.3246735 (as appropriately adjusted for any stock splits,
combinations, recapitalizations or the like affecting the Convertible Preferred Stock after the date hereof) and the Conversion Price. 

For purposes of this Note, the term “Conversion Price” shall mean an amount equal to the lowest purchase price per share of
Convertible Preferred Stock issued at any time from and after the date of this Note and until the date of conversion. 
 In the event that
any balance of this Note is converted into shares of the Company’s Convertible Preferred Stock pursuant to the terms hereof, (x) each Holder’s outstanding commitments under the Subscription Documents for Convertible Preferred Stock of
the Company, dated April 24, 2017, by and between such Holder and the Company (the “Subscription Agreements”), shall be deemed reduced to the amount equal to (i) the applicable Aggregate Purchase Price (as defined in the
Subscription Agreements) minus (ii) the initial principal balance of this Note (not including any increase thereto in respect of PIK Interest) held by such Holder and repaid pursuant to such conversion and (y) the number of shares of
Convertible Preferred Stock subject to such Subscription Agreements shall be reduced by a number of shares of Convertible Preferred Stock equal to the initial principal balance of this Note (not including any increase thereto in respect of PIK
Interest) repaid pursuant to such conversion divided by $5.3246735 (as appropriately adjusted for any stock splits, combinations, recapitalizations or the like affecting the Convertible Preferred Stock after the date hereof), rounded down.

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 2 

 Anything in this Note to the contrary notwithstanding, the Maker hereby covenants and
agrees, and the Holders likewise hereby covenant and agree, that the indebtedness and all other obligations, whether now or hereafter outstanding, of the Maker under this Note (the “Subordinated Debt”) shall be junior and
subordinate to the extent and in the manner set forth in clauses (a) through (m) below (collectively, the “Subordination Provisions”) to the Maker’s Obligations (as defined in the Indenture), whether now or hereafter
outstanding with respect to the 2018 Notes and related documents (the “Senior Indebtedness”). 
 (a) The
Subordinated Debt is subordinated in all respects and subject in right of payment to the Senior Indebtedness such that the (i) payment in full, in cash of the principal of and interest and fees (including interest and fees accruing during the
pendency of any insolvency or liquidation proceeding) regardless of whether allowed or allowable in an Insolvency Proceeding (as defined below) on the Senior Indebtedness and regardless of whether then due or payable and (ii) payment in full,
in cash of all other Senior Indebtedness that is then due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid (including any contingent indemnification obligations to the extent then asserted) (the
“Payment in Full”) of the Senior Indebtedness shall occur before any Holder is entitled to receive any payment or distribution on account of the Subordinated Debt of assets, properties or cash of Maker or any other person of any
kind or character, whether (A) a payment, purchase or other acquisition or retirement for cash, property or securities (other than PIK Interest in respect of this Note) or (B) by way of cancellation, forgiveness or offset of the
indebtedness owing by Maker against any indebtedness owed by any Holder or (C) payable or deliverable by reason of the payment of any other indebtedness of Maker being subordinated to the payment of this Note and, in any case, shall include any
assets of any kind or character received by the Holders in connection with the realization of any security for this Note (each, a “Distribution”) (including interest (other than PIK Interest)) on account of the Subordinated Debt
and, in that connection, unless and until the Payment in Full of the Senior Indebtedness occurs, no payment or Distribution (including interest (other than PIK Interest)) with respect to this Note shall be made by or on behalf of the Maker;
provided, that, nothing in this clause (a) or any other provision of this Note shall be construed to prohibit the refinancing, replacement or repayment of all or any portion of the unpaid principal balance of this Note with (or the
conversion of all of any portion of the unpaid principal balance of this Note into) common or non-”disqualified preferred” (as customarily defined) equity interests of Maker. No Holder shall initiate
or cooperate or join with any other person in any proceeding challenging (1) the validity or enforceability of any documents in connection with the Senior Indebtedness or any indebtedness governed thereby, (2) any payment or distribution
received by any holder of Senior Indebtedness or any agent therefor (each, a “Senior Debtholder”) for application to all or any part of the Senior Indebtedness or (3) the existence, validity, perfection or priority of any
actual or purported lien claimed by any Senior Debtholder in any collateral or any other property in which Maker has rights from time to time. 

(b) In the event of any insolvency, bankruptcy or receivership case or proceeding or any dissolution, winding up, liquidation,
reorganization or other similar proceedings relative to Maker or its assets (whether voluntary or involuntary and whether in bankruptcy, insolvency or receivership proceedings or otherwise) or upon an assignment

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 3 

 
for the benefit of creditors, or any other marshaling of the assets of Maker or its assets (each of the foregoing, an “Insolvency Proceeding”), then Payment in Full shall occur
before the Holders shall be entitled to receive or retain any payment or Distribution (including interest (other than PIK Interest)) with respect to this Note. In any such proceedings, any payment or Distribution (including interest (other than PIK
Interest)) to which the Holders would be entitled if this Note and the Subordinated Debt were not subordinated to the Senior Indebtedness shall be paid by the Maker or by the agent or other person making such payment or distribution, or by the
Holders if and to the extent received by the Holders, directly to the 2018 Notes Trustee to be allocated as set forth in the terms of the Senior Indebtedness or if not so allocated, pro rata based on the outstanding principal amount thereof.
Following commencement of and during the continuance of an Insolvency Proceeding, each of the Holders may (i) prove its claim or, if applicable, its interest, in the Subordinated Debt, (ii) file any necessary responsive or defensive
pleadings in opposition to any motion, claim, adversary proceeding or other pleading objecting to, or otherwise seeking the disallowance of, the amounts due under this Note or otherwise impairing any of the Holders’ rights under this Note or,
except as otherwise limited or prohibited by the Subordination Provisions, file any motions pertaining to the Subordinated Debt, and (iii) vote on any plan of reorganization or other dispositive plan that is consistent with the rights and
priorities of the Senior Debtholders under the Subordination Provisions. Nothing in this clause (b) or any other provision of this Note shall be construed to prohibit the refinancing, replacement or repayment of all or any portion of the
amounts due under this Note with (or the conversion of all of any portion of the amounts due under this Note into) common equity or non-”disqualified preferred” equity interests of Maker pursuant to
this clause (b). 
 (c) Until the Payment in Full of Senior Indebtedness, if any Holder receives any payment or Distribution
(including interest but excluding PIK Interest) in respect of the Subordinated Debt, then such payment or Distribution shall be promptly paid over or delivered to 2018 Notes Trustee with any necessary endorsement and the payment shall be deemed
never to have been made in respect of the Subordinated Debt. 
 (d) The Holders shall not exercise any rights or remedies
under this Note, including, without limitation, any action (A) to take from or for the account of the Maker or any other person, by set-off or in any other manner, the whole or any part of any moneys
which may now or hereafter be owing by the Maker or any such person with respect to the Senior Indebtedness or the Subordinated Debt (including but not limited to the amounts due on account of this Note), (B) to sue for payment of the Senior
Indebtedness or the Subordinated Debt, or to initiate or participate with others in any suit, action or proceeding against the Maker or any other person to (i) enforce payment of or to collect the whole or any part of the amounts due with
respect to the Senior Indebtedness or the Subordinated Debt or (ii) commence judicial enforcement of any of the rights and remedies under the 2018 Notes (or other applicable loan or credit agreement) or applicable law with respect to the Senior
Indebtedness or under this Note or applicable law with respect to the amounts due hereunder or thereunder, (C) to accelerate the Senior Indebtedness (or any portion thereof) or the Subordinated Debt (or any portion thereof), (D) to cause the
Maker to honor any redemption or mandatory prepayment obligation related to this Note, or (E) to take any action under the provisions of any state or federal law, including, without limitation, the

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 4 

 
Uniform Commercial Code, or under any contract or agreement, to enforce, foreclose upon, take possession of or sell any property or assets of the Maker or any other person, including the
collateral securing the Senior Indebtedness (each, an “Enforcement Action”), until Payment in Full has occurred. Notwithstanding anything in this Note to the contrary, whether or not any Senior Indebtedness is outstanding:
(1) the Holders may file proofs of claim and statements of interest against Maker in any Insolvency Proceeding in a manner consistent with the Subordination Provisions; (2) the Holders may take any action required to toll the expiration of
any statute of limitation; and (3) take any other actions to preserve or protect the validity and enforceability of rights of the Holders with respect to the Subordinated Debt not expressly prohibited in these Subordination Provisions. Any
distributions or other proceeds of any Enforcement Action obtained by or for the benefit of the Holders shall in any event be held in trust by it for the benefit of the 2018 Notes Trustee and promptly paid or delivered to the 2018 Notes Trustee in
the form received until Payment in Full has occurred. 
 (e) Until Payment in Full, each Holder hereby acknowledges and
agrees that any Senior Debtholder may at any time and from time to time without the consent of or notice to any Holder, and without incurring responsibility to any Holder or impairing or releasing the subordination provided in the Subordination
Provisions or the obligations hereunder of any Holder to any Senior Debtholder, do any one or more of the following: (i) extend, renew, modify, waive or amend the terms of any Senior Indebtedness; (ii) sell, exchange, release or otherwise
deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iii) release any guarantor or any other person liable in any manner for Senior Indebtedness or amend or waive the terms of any guaranty of Senior
Indebtedness; (iv) exercise or refrain from exercising any rights against Maker or any other person; (v) apply any sums by whomever paid or however realized to Senior Indebtedness; (vi) change the manner, place or terms of payment or
extend the time of payment of, or renew or alter, Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness is outstanding or secured; and (vii) take any other action which otherwise might be
deemed to impair the rights of the Senior Debtholders. Any and all of such actions may be taken by the Senior Debtholders without incurring responsibility to any Holder and without impairing or releasing the obligations of any Holder to the Senior
Debtholders. 
 (f) Any subsequent Holder of this Note agrees, by its acceptance hereof, that obligations of the Maker
hereunder are junior and subordinate to the Senior Indebtedness to the extent and in the manner set forth in the Subordination Provisions. 

(g) No right of any present or future Senior Debtholder to enforce subordination as provided in the Subordination Provisions
will at any time in any way be prejudiced or impaired by any act or failure to act on the part of Maker or by any act or failure to act, in good faith, by any Senior Debtholder, or by any noncompliance by Maker with the terms of this Note regardless
of any knowledge thereof that any such Senior Debtholder may have or otherwise be charged with. The Subordination Provisions are intended to be for the benefit of, and shall be enforceable directly by, the 2018 Notes Trustee or any Senior
Debtholder, and no other person other than the 2018 Notes Trustee, any Senior Debtholder or the parties hereto shall have or be entitled to assert rights or benefits hereunder. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 5 

 (h) Until Payment in Full, so long as any Senior Indebtedness is
outstanding, in the event that any Holder shall fail to file a proof of claim following any Insolvency Proceeding of Maker within 5 days prior to the deadline to file proofs of claim in the applicable Insolvency Proceeding, such Holder shall
irrevocably appoint the 2018 Notes Trustee as its attorney in fact, and grant the 2018 Notes Trustee a power of attorney with full substitution, in the name of Holder, for the use and benefit of the Senior Debtholders, to file such proof of claim on
its behalf in connection with such Insolvency Proceeding. 
 (i) Until Payment in Full, if, in any Insolvency Proceeding,
debt obligations of the reorganized debtor secured by liens upon any property of the reorganized debtor are distributed, pursuant to a plan of reorganization or similar dispositive restructuring plan, on account of both the Senior Indebtedness and
the Subordinated Debt, then, to the extent the debt obligations distributed on account of the Senior Indebtedness and on account of the Subordinated Debt are secured by liens upon the same assets or property, the Subordination Provisions will
survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the liens securing such debt obligations. 

(j) Following the Payment in Full of the Senior Indebtedness, the Holders shall be subrogated to the rights of the Senior
Debtholders (or their agent or representative) to receive payments and distributions of cash, property and securities applicable to the Senior Indebtedness until the principal of, and interest on, and all other amounts in respect of, the
Subordinated Debt shall be paid in full; however, such right of subrogation shall not be exercised as to any collateral or other property acquired prior to Payment in Full by the 2018 Notes Trustee, the Senior Debtholders or their respective
affiliates in connection with an Enforcement Action or an Insolvency Proceeding. For purposes of such subrogation, no payments or distributions to the Senior Debtholders (or their agent or representative) of any cash, property or securities to which
the Holders would be entitled except for these Subordination Provisions, and no payments over pursuant to these Subordination Provisions to the Senior Debtholders (or their agent or representative) by the Holders, shall be deemed to be a payment or
distribution by Maker to or on account of the Senior Indebtedness except to the extent constituting such a payment or distribution pursuant to the terms of the Indenture or constituting a Payment In Full; it being understood and agreed that the
Subordination Provisions are solely for the purpose of defining the relative rights of the Senior Debtholders (or their agent or representative) on the one hand, and the Holders on the other hand. 

(k) Until Payment in Full has occurred, no amendment or waiver of any provision of this Note, shall directly or indirectly
(s) modify the Subordination Provisions, (t) increase the Interest Rate in respect of the Subordinated Debt, (u) shorten the scheduled final maturity of the Subordinated Debt, (v) modify the principal repayment or prepayment
provisions of the Subordinated Debt in a manner that would require a repayment or prepayment not required as of the date hereof, (w) change any covenants, defaults, or events of default (including the addition of covenants, defaults, or events
of default not contained in the Note as in effect on the date hereof) to restrict Maker from making payments in respect of any Senior Indebtedness, (x) increase the principal balance of the Subordinated Debt (other than as a result of the
accrual of interest, accretion or the payment of PIK Interest pursuant to the terms of the Note as in effect as of the date hereof), or (y) 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 6 

 
convert the payment of any accrual or PIK Interest to cash pay interest, in each case, without the prior written consent of the 2018 Notes Trustee and each of the Senior Debtholders. Until
Payment in Full has occurred, Maker shall not grant (and no Holder shall accept the benefit of) a lien or security interest on any collateral to secure any portion of the Subordinated Debt. 

(l) For the avoidance of doubt, nothing herein shall: (i) impair, as between the Maker and the Holders, the obligation of
the Maker, which is absolute and unconditional, to pay principal of and interest on the Note as set forth herein; or (ii) affect the relative rights of the Holders and creditors of the Maker other than their rights in relation to the Senior
Debtholders. 
 (m) No implied covenants or obligations shall be read into this Note against the 2018 Notes Trustee. The 2018
Notes Trustee shall not be deemed to owe any fiduciary duty to the Holders as a result of this Note and the 2018 Notes Trustee shall not be liable to any Holder of Notes if it shall pay over or deliver to holders of the 2018 Notes, the Issuer or any
other Person money or assets which are delivered to the 2018 Notes Trustee hereunder. 
 Any waiver shall be in writing and effective
against a Holder if signed by the applicable Holder. No delay or omission on the part of the Holders in exercising any right shall operate as a waiver of such right or any other right. A waiver on any one occasion shall not be construed as a bar to
or waiver of any right on any future occasion. All rights and remedies of the Holders with respect to this Note and the obligations hereunder, whether evidenced hereby or by any other instrument or papers, shall be cumulative and may be exercised
singularly, alternatively, successively or concurrently at such time or at such times as the Holders deems expedient. 
 The Holders shall
not have the right to transfer or assign any of their rights or obligations under this Note without the prior written consent of the Maker and any proposed assignment or transfer without consent shall be void ab initio; provided, however, that
transfers or assignments of this Note (but not increases in principal amount, other than as the result of PIK Interest) shall be permitted (a) to holders of Series A Common Stock or Convertible Preferred Stock that is required pursuant to
Section 4.1(g) of that certain Investors Agreement, dated as of March 16, 2016, by and among the Maker and certain other parties thereto (the “Investors Agreement”) or (b) to Energy Capital Partners III (Sunnova Co-Invest), LP or any other Permitted Transferee, as defined in and in accordance with the Investors Agreement. 

This Note and all obligations of Maker hereunder shall be binding upon the successors and assigns of Maker, and shall, together with the
rights and remedies of the Holders, inure to the benefit of each Holder, any future holder of any of the indebtedness and their respective successors and assigns. This Note may be amended by the Maker and Holders holding a majority of the then
outstanding principal amount under this Note (the “Majority Holders”). Notwithstanding the foregoing, the Interest Rate and Maturity Date cannot be amended without the written consent of all Holders and the principal amount owed to
a Holder under this Note cannot be amended without such Holder’s written consent. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 7 

 The Maker and the Holders intend to comply at all times with applicable usury laws. If at
any time such laws would render usurious any amounts due under this Note under applicable law, then it is Maker’s and the Holders’ express intention that (i) the Maker not be required to pay interest on this Note at a rate in excess
of the maximum lawful rate, (ii) that the provisions of this paragraph shall control over all other provisions of this Note which may be in apparent conflict hereunder, (iii) that such excess amount shall be immediately credited to the
principal balance of this Note, and (iv) the provisions hereof shall immediately be reformed and the amounts thereafter decreased, so as to comply with the then applicable usury law, but so as to permit the recovery of the fullest amount
otherwise due under this Note. 
 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. Maker
agrees that any suit for the enforcement of this Note may be brought in the courts of the State of New York or any federal court sitting therein and consents to the non-exclusive jurisdiction of such court and
to service of process in any such suit being made upon Maker by mail at the address specified in the first paragraph of this Note (or such other address as Maker may provide written notice of to the Holders). Maker hereby waives any objection that
it may now or hereafter have to the venue of any such suit or any such court or that such suit is brought in an inconvenient court. 
 EACH
PARTY HERETO WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS NOTE, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THE PERFORMANCE OF ANY SUCH RIGHTS OR OBLIGATIONS. Except as prohibited
by law, Maker waives any right which it may have to claim or recover in any litigation referred to in the preceding sentence any special, exemplary, punitive or consequential damages or any damages other than, or in addition to, actual damages. Each
party (i) certifies that neither the other parties nor their respective representatives, agents or attorneys has represented, expressly or otherwise, that such party would not, in the event of litigation, seek to enforce the foregoing waivers
and (ii) acknowledges that, in entering into this Note, each party is relying upon, among other things, the waivers and certifications contained in this Note. 

If any term of this Note shall be held to be invalid, illegal or unenforceable, the validity of all other terms hereof shall in no way be
affected thereby, and this Note shall be construed and be enforceable as if such invalid, illegal or unenforceable term had not been included herein. This Note may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Note by facsimile or by
electronic portable document format shall be effective as delivery of a manually executed counterpart of this Note. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 8 

 IN WITNESS WHEREOF, the Maker has executed and delivered this Note on August 25,
2017. 
  

			
	SUNNOVA ENERGY CORPORATION
		
	By:	 	 /s/ Jordan Kozar

		 	Name: Jordan Kozar
		 	Title: Chief Financial Officer

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
			
	ACCEPTED:
	
	ENERGY CAPITAL PARTNERS III, LP
		
	By:	 	 Energy Capital Partners GP III, LP,
 its general
partner

		
	By:	 	 Energy Capital Partners III, LLC,
 its general
partner

		
	By:	 	 ECP ControlCo, LLC,
 its managing
member

		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Managing Member
	
	ENERGY CAPITAL PARTNERS III-A, LP
ENERGY CAPITAL PARTNERS III, LP
		
	By:	 	 Energy Capital Partners GP III, LP,
 its general
partner

		
	By:	 	 Energy Capital Partners III, LLC,
 its general
partner

		
	By:	 	 ECP ControlCo, LLC,
 its managing
member

		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Managing Member
	
	ENERGY CAPITAL PARTNERS III-B, LP
		
	By:	 	 Energy Capital Partners GP III, LP,
 its general
partner

		
	By:	 	 Energy Capital Partners III, LLC,
 its general
partner

		
	By:	 	 ECP ControlCo, LLC,
 its managing
member

		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Managing Member

 [Signature Page to Note] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
			
	ACCEPTED:
	
	ENERGY CAPITAL PARTNERS III, LP
		
	By:	 	 Energy Capital Partners GP III, LP,
 its general
partner

		
	By:	 	 Energy Capital Partners III, LLC,
 its general
partner

		
	By:	 	 ECP ControlCo, LLC,
 its managing
member

		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Managing Member
	
	ENERGY CAPITAL PARTNERS III-A, LP
ENERGY CAPITAL PARTNERS III, LP
		
	By:	 	 Energy Capital Partners GP III, LP,
 its general
partner

		
	By:	 	 Energy Capital Partners III, LLC,
 its general
partner

		
	By:	 	 ECP ControlCo, LLC,
 its managing
member

		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Managing Member
	
	ENERGY CAPITAL PARTNERS III-B, LP
		
	By:	 	 Energy Capital Partners GP III, LP,
 its general
partner

		
	By:	 	 Energy Capital Partners III, LLC,
 its general
partner

		
	By:	 	 ECP ControlCo, LLC,
 its managing
member

		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Managing Member

 [Signature Page to Note] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
			
	ENERGY CAPITAL PARTNERS III-C, LP
		
	By:	 	 Energy Capital Partners GP III, LP,
 its general
partner

		
	By:	 	 Energy Capital Partners III, LLC,
 its general
partner

		
	By:	 	 ECP ControlCo, LLC,
 its managing
member

		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Managing Member
	
	ENERGY CAPITAL PARTNERS III-D, LP
		
	By:	 	 Energy Capital Partners GP III, LP,
 its general
partner

		
	By:	 	 Energy Capital Partners III, LLC,
 its general
partner

		
	By:	 	 ECP ControlCo, LLC,
 its managing
member

		
	By:	 	 /s/ Rahman D’Argenio

		 	Name: Rahman D’Argenio
		 	Title: Managing Member

 [Signature Page to Note] 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 SCHEDULE I 
  

					
	 Holders and Addresses
	  	 Principal Amount
	  	 PIK Interest Amount

	Energy Capital Partners III, LP 
51 JFK Parkway 
Suite 200 Short Hills, NJ 07078 
Attn: General Counsel 
Fax: (973) 671-6101	  	$[***]	  	$[***]
			
	Energy Capital Partners III-A, LP 
51 JFK Parkway 
Suite 200 
Short Hills, NJ 07078 
Attn: General Counsel 
Fax: (973) 671-6101	  	$[***]	  	$[***]
			
	Energy Capital Partners III-B, LP 
51 JFK Parkway 
Suite 200 
Short Hills, NJ 07078 
Attn: General Counsel 
Fax: (973) 671-6101	  	$[***]	  	$[***]
			
	Energy Capital Partners III-C, LP 
51 JFK Parkway 
Suite 200 
Short Hills, NJ 07078 
Attn: General Counsel 
Fax: (973) 671-6101	  	$[***]	  	$[***]
			
	Energy Capital Partners III-D, LP 
51 JFK Parkway 
Suite 200 
Short Hills, NJ 07078 
Attn: General Counsel 
Fax: (973) 671-6101	  	$[***]	  	$[***]

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 EXHIBIT A 

Term Sheet 
 (See attached) 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 The following is intended to summarize certain basic terms of the proposed Term Loan Facility. It is not
intended as a definitive list of all our requirements in connection with the financing. This summary term sheet does not constitute a commitment, a contract to provide a commitment, or an offer to enter into a contract regarding the proposed Term
Loan Facility on these or any other terms. Such commitment, contract, or offer is subject to, among other things, completing our due diligence, the final customary approval of the ARCC Investment Committees and other accounts and investment vehicles
managed by Ares Management, and delivery of final loan documentation satisfactory to Ares Management. These summary terms and conditions are confidential and should be treated as such and should not be discussed with any other party, except for the
Sponsor(s) and its advisors. 
  
  

SUNNOVA INTERMEDIATE HOLDINGS, LLC 

PRELIMINARY SUMMARY TERMS AND CONDITIONS 

$200 MILLION TERM LOAN 

August 18, 2017 
  

 
  

			
	Parent:	  	Sunnova Energy Corporation (“SEC” and “Parent”), which owns assets and LLC interests per the Org Chart
		
	NewCo:	  	[Sunnova Holdings] (“NewCo”), which owns 100% of the equity interests in Parent
		
	Borrower:	  	Sunnova Intermediate Holdings, LLC or a newly-formed wholly-owned entity, which owns assets and LLC interests per the Org Chart, and which shall be a bankruptcy-remote SPV.
		
	Org Chart:	  	See Appendix D
		
	Management	  	Sunnova Management LLC, Sunnova TE Management I LLC, Sunnova SSA Management LLC, and Sunnova
		
	Entities:	  	SLA Management LLC
		
	 Asset Portfolios:
	  	 Wholly-Owned Assets: All solar assets which are wholly-owned by Borrower (in certain instances alongside third-party tax equity
investors) including:
  

•  LV3, AP4, AP5, AP6, AP7, Sunnova TEP I Developer, and

 
 •  All newly formed entities
which are, directly or indirectly, wholly-owned by Borrower

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 1 

			
		  	 Partially-Owned Assets: All solar assets which are partially-owned by Borrower alongside third-party (cash) equity investors
including:
  
 •  Sunnova Energy
Yield GP LLC (“YieldCo Entity”), and
  

•  All newly formed subsidiaries formed for the purpose of owning and/or managing assets whereby SEC
(or Borrower) does not own 100% of the economic interests and “customer relationship”

		
	Managing Sponsor:	  	Energy Capital Partners (“ECP”)
		
	Sponsors:	  	All investors owning Convertible Preferred Stock or Common Stock in NewCo including but not limited to: ECP, Elk Mountain, Minion Trails, GSO/Franklin Square, Brock Capital Group, Triangle Peak Partners, SEIS / CGK Holdings, and
Magnetar Capital
		
	Administrative Agent:	  	Ares Capital Corporation (“ARCC” or “Agent”)
		
	Arrangers:	  	Investment vehicles and accounts managed by Ares Management, L.P. (“Ares Mgmt”) and investment vehicles and accounts managed by Melody Capital Partners, LP (“Melody”)
		
	Lenders:	  	Ares Mgmt, Melody and other third-party lender assignees reasonably satisfactory to Ares Mgmt and Melody, provided that no such Lender shall be a “Disqualified Lender”.
		
	Disqualified	  	Each entity listed as a “Disqualified Lender”, as provided in writing by the Borrower to Ares Mgmt and Melody
		
	Lender:	  	prior to the Closing Date and on each anniversary of the Closing Date.
		
	Initial Commitments:	  	$135 million by ARCC; $65 million by Melody
		
	Facility:	  	The principal terms of the Term Loan (“TL” or “Facility”) are outlined below:
		
	Commitment:	  	$200 million, fully funded on the Closing Date; $50 million under the Incremental Facility
		
	Incremental Facility:	  	For 18 months following the Closing Date, the Borrower may elect by written notice to the Arrangers (the “Increase Notice”) to increase the Commitment by $50 million to be funded in not more than two draws (such
amount, the “Incremental Facility”), subject to the satisfaction of the following conditions: (i) no event of default exists or would exist after giving effect to any such increase, (ii) the representations and warranties in the
Facility shall be accurate in all material respects after giving effect to any

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 2 

			
		  	 such increase, (iii) subject to the following paragraph, receipt of additional commitments from the Lenders or one or more other
financial institutions, and (iv) the Lenders shall have received all organizational documents (including resolutions of the Borrower and any guarantors) it may reasonably request relating to the corporate or other necessary authority for such
increase and the validity of such increase, and other organizational matters relevant thereto, all in form and substance reasonably acceptable to the Lenders. Borrower may not elect to increase the Commitment within 90 days of the Closing Date.

 
 Until the date that is 30 days after receipt of an Increase Notice (“ROFR
Period”), the Arrangers shall have a right of first refusal to participate in the Incremental Facility. During the ROFR Period, the Borrower and its affiliates may not seek commitments from new lenders (the “New Lenders”). After the
ROFR Period, the Borrower and its affiliates may seek commitments from New Lenders. If the Incremental Facility is not closed within 120 days of the receipt of the Increase Notice, the ROFR Period is thereby reinstated.

 
 If the Arrangers elect to participate in the Incremental Facility, (x) an upfront
fee/OID equal to [***]% of the Incremental Facility shall be paid to each Arranger in the Incremental Facility based on their pro rata commitment, (y) the Interest Rate applicable to the Incremental Facility shall remain as set forth below and
(z) the Warrants issued to the Arrangers shall be as described below.
  
 Subject
to the following bullets, the Incremental Facility shall have the same terms and conditions as the Facility12

 
 •  If the Incremental Facility
includes a higher upfront fee/OID, the Arrangers shall be paid (x) the difference of such upfront fee/OID and [***]%, multiplied by (y) the Commitment; provided that the New Lenders shall not be paid an upfront fee/OID greater than [***]%
of the Incremental Facility commitment.
  

•  If the Incremental Facility includes a higher interest rate, such higher interest rate shall apply
to the Facility with respect to the original Commitment, but there will be no change in the Minimum Cash Interest (as it relates to the Facility).

 

	1 	 NOTE: For the avoidance of doubt, incremental lenders which are New Lenders shall not have any right or
flexibility to modify any term except for Fees, Interest Rate and Warrants. 

	2 	 NOTE: For simplicity, “Arrangers” is used to mean the Lenders on the Closing Date in the
“Incremental Facility” and “Warrant” sections of this term sheet . To the extent the Arrangers syndicate post-closing, the “true-ups” will be appropriately adjusted between the
Arrangers and the lenders to whom the Arrangers syndicated. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 3 

			
		  	 •  If the Incremental Facility grants more Initial Warrants to the New Lenders (on
a per dollar of commitment basis) than were granted to the Arrangers on the Closing Date, the Arrangers shall receive additional Initial Warrants (on a per dollar of commitment basis) pro rata in an amount equal to the difference between the amount
of additional Initial Warrants granted to the New Lenders and the amount of Initial Warrants granted to the Arrangers on the Closing Date.
  

•  If the Incremental Facility grants more Additional Warrants to the New Lenders (on a per dollar of
commitment basis) than the amount set on the Closing Date to be granted to the Arrangers, the amount of Additional Warrants entitled to be received by the Arrangers shall be increased (on a per dollar of commitment basis) to match the amount granted
to the New Lenders. The cap of 6.0% will also be increased proportionately.3

		
	Closing Date:	  	September 5, 2017
		
	Upfront Fee/OID:	  	[***]% of the Commitment to be funded on the Closing Date to be paid to the Lenders as of the Closing Date, based on their pro-rata commitment
		
	Tenor:	  	4.5 years
		
	Interest Rate:	  	12.0%
		
	Payment Date:	  	Quarterly for interest and scheduled principal amortization
		
	Minimum Cash	  	Minimum cash interest based on the below schedule:

  

			
	 Date
	  	 Minimum Cash Interest

		
	Prior to 12/31/18	  	[***]%
		
	Following 12/31/18	  	[***]%

  

			
	PIK Option:	  	 Borrower may exercise the PIK option subject to:
  

i.   Satisfying the Minimum Cash Coupon

 
 ii.  No event of default exists

 
 iii.   The total outstanding
balance of the TL not exceeding 120% of the total funded amount
  

iv.   No occurrence or continuation of Turbo Amortization (i.e. PIK allowed during the 120-day Liquidity Cure Period, however, failure to cure the Liquidity Breach will eliminate eligibility of the PIK Option).

  

	3 	 NOTE: Sunnova confirms the excel example sent by Ares on August 1; to be reflected in definitive documents.

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 4 

			
	Administrative Agent Fee:	  	$[***] per annum, payable in advance in equal quarterly installments
		
	Mandatory Amortization:	  	Mandatory amortization based on the below schedule, to be paid quarterly:

  

			
	 Date
	  	 Mandatory Amortization

	 Prior to
 6/30/19
	  	None
		
	 6/30/19
	  	[***]% of draws
		
	 9/30/19
	  	[***]% of draws
		
	 12/31/19
	  	[***]% of draws
		
	 3/31/20
	  	[***]% of draws
		
	 6/30/20
	  	[***]% of draws
		
	 9/30/20
	  	[***]% of draws
		
	 12/31/20
	  	[***]% of draws
		
	 3/31/21
	  	[***]% of draws
		
	 6/30/21
	  	[***]% of draws
		
	 9/30/21
	  	[***]% of draws

  

			
	Prepayment Premium:	  	In the event the principal repayments and Interest received by the Lenders (excluding, for purposes of calculating the Prepayment Premium, Upfront Fee/OID, Default Interest, and gains associated with the Warrants) result in a return
on investment to the Lender below the Minimum ROI, then upon repayment or prepayment of the Term Loan (including upon acceleration), the Borrower will make a true-up payment such that the Lender, after taking
the true-up payment into account, will achieve the Minimum ROI on cumulative drawn amounts on the Facility. The Prepayment Premium will be calculated and paid at the earlier of maturity of the Facility and the
repayment in full in cash of the Facility.
		
	Minimum ROI:	  	1.40

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 5 

			
	Warrant:	  	Initial Warrant
		
		  	On the Closing Date, the Arrangers will be issued warrants to purchase 2% of the Conv Pref of NewCo on a fully-diluted basis as of date of exercise, at an exercise price of $0.01 per share, which will have a 7-year term from the Closing Date and will be exercisable in part or in full at any time during such term. If ECP converts its Conv Pref to common stock, such warrants shall become exercisable into common stock (or
dragged into common stock if ECP coverts after the Arrangers have exercised their warrants for Conv Pref). For the avoidance of doubt, only the Arrangers shall be allocated Initial Warrants. If the Arrangers participate in the Incremental Facility,
the Arrangers will be issued additional warrants on the foregoing terms to purchase an additional 0.5% of the Conv Pref of NewCo on a fully-diluted basis as of date of exercise, at an exercise price of $0.01 per share, which will have a 7-year term from the Closing Date and will be exercisable in part or in full at any time during such term.
		
		  	Additional Warrants
		
		  	On each anniversary of the Closing Date until the Maturity Date (or the earlier repayment of the Loans in full), then-current Lenders will be granted on a pro rata basis additional warrants to purchase 1.0% (or, if the Arrangers
have participated in the Incremental Facility, 1.25%) of the Conv Pref of NewCo at an exercise price of $0.01 per share, which will have a 7-year term from the Closing Date and will be exercisable in part or
in full at any time during such term; provided, that, in no event shall the Initial Warrants and the Additional Warrants granted in connection with the Facility exceed 6.0% of the Conv Pref of NewCo (or, if the Arrangers have participated in the
Incremental Facility, 7.5% and subject to increase if the Incremental Facility grants more Additional Warrants to the New Lender). For the avoidance of doubt, Additional Warrants shall only be granted to then-current Lenders who are Lenders with
respect to the original Commitment, unless the Borrower has agreed separately to grant Additional Warrants to New Lenders with respect to the Incremental Facility.
		
		  	Springing Warrant
		
		  	In the event of an Event of Default that has not been cured for 180 days, then-current Lenders will be issued, on a pro-rata basis based on outstanding Term Loans owing to such lenders, an
additional warrant to purchase 5.0% of the Conv Pref of NewCo on a fully diluted basis as of date of exercise, at an exercise price of $0.01 per share (the “Springing Warrants” and, collectively with the Initial Warrant and the Additional
Warrants, the “Warrants”).

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 6 

			
		  	The Springing Warrants will have a 7-year term (from the Closing Date) and will be exercisable in part or in full at any time during such term.
		
		  	Subject to the following sentence, the Springing Warrants shall be reduced to 0% of the Conv Pref of NewCo if the Borrower achieves Goldman Success (as defined below) within 6 months of the Closing Date. If the Springing Warrants
have been reduced to 0% as a result of achieving Goldman Success, the Springing Warrants will be reinstated (on the original terms) in the event of a Warehouse CoC Violation (as defined in Appendix A).
		
		  	“Goldman Success” means any of the following (a) amending the AP6 facility (i) to eliminate or modify (such modification to be reasonably satisfactory to the Lenders) the standstill requirement with respect to
the pledge of Sunnova Asset Portfolio 6 Holdings, LLC (“AP6H”), Sunnova Asset Portfolio 6, LLC (“AP6”), Sunnova AP 6 Warehouse II, LLC (“AP6 Warehouse”) (provided that failure to eliminate or modify such standstill
requirement as it relates to AP6 and AP6 Warehouse shall not prevent the reduction of Springing Warrants to 0% of Conv Pref of NewCo) and Borrower and (ii) to eliminate the change of control with respect to foreclosure on equity in AP6H, AP6,
AP6 Warehouse (provided that failure to eliminate such change of control requirement as it relates to AP6 and AP6 Warehouse shall not prevent the reduction of Springing Warrants to 0% of Conv Pref of NewCo) and Borrower (which can be subject to
customary limitations (such as transferee satisfying creditworthiness and operational requirements)); for the avoidance of doubt, an amendment substantially similar to the provisions negotiated in the amendments to the SSA/SLA Warehouse Facilities
as of the Closing Date would satisfy this clause (a)(ii)), or (b) refinancing the AP6 facility and opening a new warehouse on similar terms whereby the change of control triggers are subject to customary limitations (such as transferee
satisfying creditworthiness and operational requirements).
		
		  	Warrant-holder Rights (all Warrants)
		
		  	The Warrants will have, among other things: (i) information rights that are equivalent to the TL, and (ii) customary minority protections substantially equivalent to the rights of the
non-ECP investors.
		
		  	The Warrants will also be subject to weighted average anti-dilution protection on substantially the same terms as the Convertible Preferred Stock, which protection shall apply on a post-exercise basis.
		
	Use of Proceeds:	  	To repay the Magnetar notes, pay fees and expenses incurred in connection with the Facility, deposit cash with Borrower and Parent to achieve the balances set forth in clause (iii) of the Conditions Precedent, to repay a
$15 million shareholder loan and thereafter for general corporate purposes. Incremental facility shall be used to first prepay all “Class C Notes” issued by Helios Issuer, LLC (“Helios Repayment”) and, if there are
excess proceeds following the Helios Repayment, for general corporate purposes of the Borrower.

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 7 

			
	Cash Management:	  	 •  Borrower Deposit Account Control Agreement (“DACA”)

 
 •  Borrower will open a
“Waterfall Account” (“WA”) and a “Multi-Purpose Account” (“MPA”), which shall each be subject to a DACA and under the control of the Lenders for the purpose of perfecting a security interest therein.

 
 •  All of Borrower’s
subsidiaries will direct distributions into the MPA
  

•  With respect to the net proceeds of individual asset sales actually received by the Borrower,
amounts below $5 million will be deposited into the MPA, and amounts equal to and greater than $5 million will be deposited into the WA whereby. In each case, the Borrower will have the option to exercise the Asset Sale Proceeds Sharing
mechanism
  
 •  Cash will be
run through the WA quarterly. The Borrower shall cause enough funds on deposit in the MPA to be run through the WA to pay the items listed in clauses (i) through (v) below.

 
 •  Waterfall Account
(WA)
  

i.   Administrative expenses of Borrower entity

 
 ii.  All fees, costs, charges and
expenses due to the Lenders and Administrative Agent
  

iii.   To the Lenders, TL Interest

 
 iv.   To the Lenders, TL
Mandatory Amortization
  
 v.  To the
Lenders, to satisfy all Mandatory Prepayments and Turbo Amortization
  

vi.   To the Lenders, any Optional Prepayments

 
 vii.  To SEC, Minimum Parent
Distributions (unless an Event of Default has occurred and is continuing)
  

viii.  To SEC, Additional Parent Distributions (unless an Event of Default has occurred and is
continuing)

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 8 

			
		  	 ix.   Asset Sale Proceeds Sharing. If Borrower elects to exercise the Asset Sales
Proceeds Sharing mechanism, every $1.00 of net asset sale proceeds shall be distributed:
  

a.   $0.50 to the Lenders as a prepayment

 
 b.  $0.50 to the Parent as an Asset
Sale Parent Distribution
  
 x.  All
excess amounts shall be deposited into the MPA
  

•  Multi-Purpose Account (MPA)

 
 •  Borrower may utilize cash in
this account as necessary throughout the quarter and to conduct ordinary business including but not limited to:
  

•  Funding deposits with channel partners and/or acquiring new assets

 
 •  Repaying/refinancing
subsidiary debt and/or funding equity cures for underlying subsidiaries
  

•  General administrative and operations expenses of the Borrower and of any subsidiary

		
	Parent	  	“Asset Sale Parent Distributions” shall be defined as those amounts eligible to be distributed to Parent pursuant to clause (ix)(b) of the Waterfall Account above
		
	Distributions	  	 “Minimum Parent Distributions” shall be defined as $6.0 million per quarter for the 2017 calendar year; $7.0 million per
quarter for the 2018 calendar year; and $8.0 million per quarter thereafter until the Maturity Date. Minimum Parent Distributions shall not accrue if not able to be fully paid in any quarter.

 
 “Additional Parent Distributions” shall be defined as:

 
 •  Prior to and until the end of
4Q’18, $0; and
  

•  Thereafter, the amount set forth below corresponding to the applicable Lenders’ Return on
Investment and CLTV, which amount shall not accrue if not able to be fully paid in any quarter:

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 9 

 
									
	 	  	 	  	 Return On Investment

		  		  	<=0.50x	  	0.50 - 1.00x	  	>= 1.00x
	Cons. LTV	  	>= 80.0%	  	$0.0	  	$0.0 mm	  	$2.0 mm
	  	75.0% – 80.0%	  	$0.0	  	$1.5 mm	  	$4.0 mm
	  	<= 75.0%	  	$1.5 mm	  	$2.0 mm	  	$6.0 mm

  

			
	Reporting:	  	 Usual and customary for transactions of this type including but not limited to:

 
 i.   documentation for
amendments of existing indebtedness and issuances of debt and equity at any downstream subsidiary of the Borrower
  

ii.  all reporting materials related to performance of assets and notices of material events (including,
but not limited to, defaults, events of default, litigation and material adverse changes) distributed to investors or lenders of Asset Portfolios including lenders, tax equity, and cash equity investors

 
 iii.   Quarterly and annual
unaudited and audited financial statements of Borrower and Parent
  

iv.   Within 10 business days after month end, Borrower shall report the cash balance of Borrower,
Parent, and each of Borrower’s wholly-owned subsidiaries
  

v.  Copies of asset sale documents other than to Borrower or another subsidiary, where such asset sale was
in excess of $5.0 million.
  

vi.   If Unlevered Asset Value of an asset sale is greater than $50 million, then the Borrower
must provide to the Lenders at least 7 business days’ prior to execution of definitive documents notice of the transaction and summary details (target portfolio, identity of buyer, equity structure, term sheet, consideration, CLTV levels both pre-deal and pro forma). Further, in the next quarterly reporting period, Borrower must provide analysis showing implied discount rate and provide commentary to the extent there is material variance from the 7.0%
Discount Rate used under this Facility (it being understood that quarterly board packages or special meetings shall address this requirement).

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 10 

			
		  	 vii.  To the extent the Borrower initiates a cash equity sale process either directly
or with an advisor/banker, Borrower shall share all marketing materials (CIM, model reports, etc.) with the Lenders (such obligation will be only to track asset sale activity and shall not provide Lenders any right to participate in the
process).

		
	Board Observation Rights:	  	Ares, Melody and any other lender that is a lender on the Closing Date with a commitment of at least $50 million (such other lender subject to the approval of the Borrower/Managing Sponsor prior to the Closing Date) shall be
granted board observation rights (other than customary exclusions, including those related to attorney-client privilege and matters directly related to the Facility); provided, that, such observation rights granted to each of Ares, Melody and any
other lender on the Closing Date with a commitment of at least $50 million shall terminate upon its respective transfer of more than 50% of its position in the Facility.
		
	SEC Liquidity Test:	  	 To the extent aggregate cash at Parent is below $15.0 million as of any month-end period, which
amount can include the Minimum Parent Distribution expected within the succeeding 90 day period (such event, a “Liquidity Breach”), the Borrower will be subject to Turbo Amortization beginning 120 days following a Liquidity Breach
Following a Liquidity Breach and prior to the commencement of Turbo Amortization, the Sponsors shall have the right to cure such event (“Liquidity Cure Period”) by satisfying either of the following:

 
 i.   Sponsors collectively
funding an equity contribution (or issuing new equity) to cause the aggregate cash balance at SEC to exceed $20.0 million for 5 consecutive business days; or
  

ii.  SEC demonstrating an aggregate average cash balance of $20.0 million over any trailing 30-day period.
  
 For the avoidance of doubt, during
the Liquidity Cure Period:
  

•  any Mandatory Amortization payments due shall remain an obligation

 
 •  the existence of the
Liquidity Breach will not constitute an Event of Default
  

•  the Borrower will be eligible to fund Parent Distributions (to the extent permitted)

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 11 

			
		  	Failure to exercise a cure during the Liquidity Cure Period shall result in, subject to the following sentence, an irrevocable trigger of Turbo Amortization whereby the Mandatory Amortization schedule will be revised to reflect an
additional $10.0 million payment every 3 months, whereby the first such Turbo Amortization payment would be due on the last day of the fiscal quarter ending after the end of the Liquidity Cure Period. Borrower shall be permitted one time to
stop Turbo Amortization (and return to the Mandatory Amortization schedule in effect immediately prior to the trigger of Turbo Amortization) by making a prepayment of the Term Loan in an amount equal to at least $25 million.
		
		  	 For the avoidance of doubt, upon the occurrence and during the continuation of Turbo Amortization:

 
 •  the existence of Turbo
amortization will not constitute an Event of Default
  

•  the Borrower will be eligible for Minimum Parent Distributions (to the extent
permitted)
  
 •  the Borrower
will not be eligible for other Parent Distributions

		
	Asset Sale Transaction:	  	 Any transaction per below:
  

YieldCo

		
		  	A public or private offering in operating assets held by the YieldCo Entity
		
		  	Portfolio Sale
		
		  	 A sale of assets or equity interests by Borrower or its subsidiaries to a third-party equity investor or into a newly-formed entity which is
not a wholly-owned entity by Borrower
  

•  “Full Portfolio Sale” - transactions resulting in no residual economic interests to
SEC
  
 •  “Minority
Portfolio Sale” - transactions resulting in all of the following:
  

i.   Borrower retaining at least 50.1% of the economic rights via an equity structure whereby SEC
and the new investor are allocated cash-flows on a pro-rata basis and new investor is not allocated cash exceeding 50.0% of available cash (for the avoidance of doubt, a customary tax equity partnership shall
be permitted by this clause (i) irrespective of the cash allocations under such partnership);

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 12 

			
		  	 ii.  SEC retaining the same affiliate transactions which existed prior to the
transaction (including but not limited to asset management, collections, etc.);
  

iii.   SEC retains the “customer relationship”; and

 
 iv.   Exercise of the
Lenders’ remedies following an Event of Default subject only to customary limitations (such as transferee satisfying creditworthiness and operational requirements).
  

•  “Passive Preferred Sales” - transactions whereby a new investor is granted an allocation
of cash which exceeds 50.0% of available cash or has a preferred claim on cash which would be expected to exceed 50.0% of available cash in any year over the next seven (7) years, provided that customary tax equity partnerships will not be
considered Passive Preferred Sales
  

•  “Other Portfolio Sales” - transactions resulting in either of the following:

 
 i.   SEC does not retain
affiliate transaction role performed historically (asset management, collections, etc.)
  

ii.  SEC does not retain the “customer relationship”.

 
 “Core Assets” shall be defined as (i) Wholly-Owned Assets and
(ii) assets owned through a vehicle which has executed a Minority Portfolio Sale. For the avoidance of doubt, Core Assets will not include assets whereby definitive documentation has been executed that would be deemed (x) Full Portfolio
Sale, (y) Other Portfolio Sales or (z) Passive Preferred Sale.

		
		  	Consolidated Loan to Value (“CLTV”) shall be tested quarterly beginning on December 31, 2017 and the Borrower shall have a CLTV equal to or less than the levels set forth in Appendix C.
		
	CLTV Covenant:	  	 Numerator shall be the sum of all debt of the Borrower (including the TL) and Borrower’s share of all debt at subsidiaries

 
 •  Disregards tax equity

 
 •  With respect to indebtedness
secured by assets which are Partially-Owned Assets, the numerator shall be adjusted to capture Borrower’s pro-rata share of debt

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 13 

			
		 	 Denominator shall be the sum of:
  

•  Unlevered Asset Value, defined as the present value of the sum of:

 
 •  Contracted Cash Flows
(defined as the aggregate amount of payments expected to be received by a subsidiary of Borrower pursuant to binding and enforceable contracts with customers), plus
  

•  Hedged SRECs (defined as the aggregate amount of payments expected to be received by a subsidiary
of Borrower pursuant to binding and enforceable SREC sale agreements), less
  

•  asset-level operating expenses reasonably expected to be incurred (provided that such assumptions
may not vary by more than 10% relative to historical levels on a portfolio basis per MW and/or per system)
  

•  100% of
Work-in-Process (“WIP”) Capex which has been funded
  

•  Adjusted Cash defined as:
  

•  Aggregate cash held at Parent, Borrower and all entities which are wholly-owned by Borrower

 
 •  75% of market value of
publicly traded equity securities (VWAP over 30 trailing days)

		
		 	 As it relates to Unlevered Asset Value above:
  

•   Projections shall be subject to the actual contracted end dates and subject to a maximum
projection end date of 25 years from the covenant calculation date (“Max Asset Tenor”), regardless of actual contract tenor remaining; no residual value will be included

 
 •   Projections shall be
adjusted to be net of cash allocations to:
  

•  tax equity investors
  

•  third-party cash equity investors in connection with Partially-Owned Assets

 
 •   Discount Rate used to
derive Unlevered Asset Value shall be defined as 7.0%
  

•   Projections shall assume

 
 •  0.50% annual degradation

 
 •  0.35% annual default rate
assumptions

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 14 

			
	  
  

Equity Cures:
	  	 •  97.5% production case assumption

 
 Sponsor shall be permitted to make unlimited equity cures to satisfy any Minimum Cash
Coupon or Mandatory Amortization payments
  
 Sponsor shall be permitted to make
unlimited equity cures upon the breach of the CLTV Covenant. Following the first six equity cures for breach of the CLTV Covenant, the Borrower shall make a $15 million partial prepayment of the Facility (with the proceeds of the cure or other
unrestricted cash on hand) with each additional equity cure.
  
 For the avoidance of
doubt, Sponsor shall be permitted to raise outside capital to facilitate the exercise of its cure rights.

		
	Negative	  	Usual and customary for transactions of this type, including but not limited to:
		
	Covenants:	  	 i.   Restricted debt incurrence and amendments set forth under Appendix A; SEC
shall not be permitted
  

ii.  Corporate Expenses (including but not limited to (a) Sunnova SG&A and (b) Corporate
CapEx as laid out in the Base Case Model) shall only be incurred by NewCo, SEC and the Management Entities; no G&A shall be incurred at Borrower or subsidiaries except for Approved Affiliate Transactions (as defined below)

 
 iii.   No Asset Sale
Transactions allowed by the Borrower or a subsidiary thereof except for Permitted Asset Sales to enter into a debt financing transaction (such restriction shall not apply to NewCo).

 
 iv.   Usual and customary
restricted payments including:
  

a.   Subsidiaries shall not make restricted payments other than upstreaming cash to Borrower

 
 b.  NewCo shall not make payments to
any class of equity or indebtedness while the Facility remains outstanding, other than mandatory cash distributions required by the Investors Rights Agreement; for the avoidance of doubt, there shall be no limitations on distributions made by SEC to
NewCo to pay reasonable accounting, administrative and other expenses of NewCo and mandatory cash distributions required by the Investors Rights
Agreement.4

  

	4 	 NOTE: Parties to agree on reasonable cap in long form documentation. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 15 

			
		  	 v.  Mergers / Acquisitions

 
 a.   Borrower shall be allowed
to acquire portfolios of operating assets under lease, PPA, or loan agreements and equity interests in entities (including tax equity partnerships) all or substantially all of whose assets consist of the foregoing assets or equity, however, shall
not acquire any companies or platforms which are in the business of origination, development, construction, management, customer acquisition, or any other such business
  

b.  Borrower shall not acquire or merge with new companies or platforms, unless such transaction is an
Approved Merger/Acquisition (to be defined in the definitive documents)
  

vi.   Approved Affiliate Transactions (defined as transactions with affiliates of the Borrower that
are on terms no less favorable to the affiliate than would be obtained in a comparable arm’s length transaction with a person that is not an affiliate or are on terms substantially similar to existing affiliate transactions. All existing
affiliate transactions shall be deemed to be “Approved Affiliate Transactions”). For the avoidance of doubt, no intercompany loans made by Borrower, SEC or NewCo will be permitted without prior Lender approval and there shall be no
restrictions on intercompany loans between or among any Subsidiary of the Borrower and/or any Management Entity.
  

a.   Management Entities shall continue to provide services under existing affiliate transactions,
however, no changes to economic terms shall be permitted (except for an 2% annual growth rate)
  

b.  Management Entities shall be allowed to enter into similar transactions to support future asset growth
that are Approved Affiliate Transactions.
  

vii.  Parent and NewCo shall not form any new subsidiaries unless such subsidiaries are wholly-owned by
Borrower (alongside third-party tax equity investors).
  

viii.  Parent shall not own any assets through Sunnova Energy Yield GP, LLC or another yield co entity

 
 ix.   Underwriting
Criteria:
  
 a.   Borrower
shall not modify its Underwriting Policy (as in effect on the closing date) unless and to the extent that such modification (i) would not reasonably be expected to result in a breach or default under any of its subsidiaries’ senior secured
credit facilities or (ii) is otherwise consistent with the applicable provisions of such senior secured credit facilities.

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 16 

			
		  	 b.  In addition, no customer for any solar asset shall have a FICO Score of less than
[***] at origination; provided, that the Borrower may deploy up to $40 million in additional capital in assets with FICO Scores of at least [***] at origination.

		
	Permitted Asset Sales:	  	 A sale:
  

i.   by Borrower to a Subsidiary or by a Subsidiary to Borrower or another Subsidiary;

 
 ii.  of obsolete, worn-out or replaced property not used or useful in its business;
  

iii.   of equipment to customers in the ordinary course of business;

 
 iv.   the sale of defaulted
accounts arising in the ordinary course of business in connection with the compromise or collection thereof and not in connection with any financing transaction; or
  

v.  whereby Pro Forma for the asset sale (which may take the form of a Minority Portfolio Sale,
Passive

		
		  	 Preferred Sale or Other Portfolio Sale), the Borrower:
  

a.   Would remain in compliance with the CLTV covenant minus a 2.5% adjustment;.

 
 b.  CLTV level would not increase by
more than 10.0% relative to previous quarter, unless it would remain in compliance with the CLTV covenant minus a 5.0% adjustment;
  

c.   Would remain in compliance with the Portfolio Diversification Requirement set forth in Appendix
A;
  
 d.  Shall remain in compliance
with all Affirmative Covenants and Negative Covenants, and
  

e.   Shall maintain a ratio between levered equity value of Core Assets (unlevered Asset Value of
Core Assets, less Debt of Asset Portfolios) and balance of Term Loans of not less than:

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 17 

 
			
	 Date
	  	 Level

	9/30/2017	  	[***]
		
	12/31/2017	  	[***]
		
	3/31/2018	  	[***]
		
	6/30/2018	  	[***]
		
	9/30/2018	  	[***]
		
	12/31/2018	  	[***]
		
	3/31/2019	  	[***]
		
	6/30/2019	  	[***]
		
	9/30/2019	  	[***]
		
	12/31/2019	  	[***]
		
	3/31/2020	  	[***]
		
	6/30/2020	  	[***]
		
	9/30/2020	  	[***]
		
	12/31/2020	  	[***]
		
	3/31/2021	  	[***]
		
	6/30/2021	  	[***]
		
	9/30/2021	  	[***]
		
	12/31/2021	  	[***]
		
	3/31/2022	  	[***]

  

			
		 	For the avoidance of doubt, when performing the CLTV calculation to determine whether a Passive Preferred Sale satisfies the foregoing clauses (a) through (e), (x) all operating portfolios and debt associated with such Passive
Preferred Sale shall be excluded from the numerator and denominator of such calculation (and shall remain ineligible for future CLTV calculations) and (y) cash proceeds from such sale may be included as Borrower cash in the denominator of such
calculation.

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 18 

			
		  	For the avoidance of doubt, the Equity Cures shall not enable the Borrower to qualify for any of the above for purposes of effecting a Permitted Asset Sale, provided, however the Borrower may exercise an Optional Prepayment at any
time, and to the extent the Borrower can demonstrate that following such prepayment it can qualify under all of the above then such sale shall be deemed permitted.
		
		  	No asset sales under clause (v) above are permitted during the continuation of an Event of Default
		
	Affirmative Covenants:	  	 Usual and customary for transactions of this type. Borrower shall cause each of its Subsidiaries to distribute all cash that each such
Subsidiary is permitted to distribute under applicable law, its organizational documents, and the applicable debt financings and tax equity partnership documents; provided that each Subsidiary may retain cash in an amount, in the Borrower’s
reasonable discretion, necessary or advisable for working capital purposes, capital expenditures or the prudent operation of such Subsidiary’s business.
  

Borrower shall use commercially reasonable efforts to achieve TCB Success and CIT Success.

 
 “TCB Success” means an amendment to the AP4 facility that eliminates
(a) the change of control with respect to foreclosure on equity in Borrower and AP4 (which can be subject to customary limitations (such as transferee satisfying creditworthiness and operational requirements)) and (b) the event of default
under the TCB facility triggered by acceleration of the TL and prepayment, repurchase, defeasance or redemption prior to the stated maturity.

		
		  	“CIT Success” means an amendment to the TEP I facility that eliminates the change of control with respect to foreclosure on equity in Borrower and TEP I Developer (which can be subject to customary limitations (such as
transferee satisfying creditworthiness and operational requirements)).
		
	Base Case Model:	  	Model sent by management labeled “[☐]”
		
	Conditions Precedent:	  	 Conditions precedent to closing the Facility shall include, but not be limited to the following:

 
 i.   investment committee
approval of ARCC, other Ares Mgmt committees and Melody,
  

ii.  satisfactory completion of customary legal diligence and documentation,

 

iii.   pro-forma balances of

 
 a.   $70 million cash at
Borrower

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 19 

			
		  	 b.  $25 million cash at Parent after giving effect to a distribution of loan
proceeds to the Parent on the Closing Date5
  

c.   Funded WIP of $100 million;

 
 iv.   execution of Org Chart
consolidation under Borrower, including sale of AP3 assets to AP6 warehouse6,
  

v.  repayment of Magnetar bridge loan,

 
 vi.   ECP shall evidence
historical funding of $375.0 million (inclusive of $300mm Conv Pref and $75mm secondary purchases) by ECP and ECP related co-investors,

 
 vii.  Minimum systems in service of
37,465,
  
 viii.  Management shall
provide the Administrative Agent the CLTV calculations as of June 30, 2017 with detail broken down for each portfolio, and
  

ix.   In respect of the SSA and SLA Warehouse Facilities, Borrower shall deliver a consent (in a
form to be agreed) from Credit Suisse providing that the exercise of remedies by the Lenders shall not result in a breach of the change of control covenants under such facilities.78

		
	Security:	  	 The Facility will be secured by perfected first liens on:
  

•  100% of the equity interests in Parent owned by NewCo.9
  

•  All assets of Parent including but not limited to:

 
 •  All equity interests in
Borrower
  
 •  all bank
accounts including the account which receives payments on behalf of the Management Entities

 

	5 	 NOTE: The amounts in clauses (iii)(a) and (b) are subject to final confirmation from ARCC after review of
(i) latest model and (ii) reconciliation of net changes in working capital (and collateral value) increase/decrease net of shareholder loan repayment. 

	6 	 NOTE: The lenders understand that some assets (with an EPC cost of $1.7M) will remain in AP3.

	7 	 NOTE: AP4 facility to be amended so this facility can qualify as a “Qualified Parent Credit
Facility”. 

	8 	 Note: NewCo structure subject to ongoing legal review (including review of revised corporate docs of SEC and
amendments to senior financings). 

	9 	 NOTE: Qualified transferee requirements and approval rights applicable to post-foreclosure matters, including
operational management and servicing, to be discussed with Credit Suisse. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 20 

			
		  	 •  pledges of its membership interests in all subsidiaries which exist as of the
Closing Date, and in newly-formed entities following the Closing Date
  

•  All assets of Borrower including but not limited to:

 
 •  all bank accounts including
the accounts governed by the DACA
  

•  pledges of its membership interests in all subsidiaries which exist as of the Closing Date not
pledged to an existing lender (provided that such pledge shall exclude any assets pledged under the existing senior financings or subject to a negative pledge or other restrictions on liens under the existing senior financings), and in newly-formed
entities directly owned by Borrower
  

•  Bank accounts held by TEP I Developer, AP6 and any other applicable Subsidiary that hold cash
intended to fund WIP obligations; provided, that such lien shall be released when WIP is transferred to a Subsidiary subject to a debt or tax equity senior financing.

		
	Guaranty:	  	SEC will provide a guaranty of Borrower’s obligation to pay the Prepayment Premium to the initial Lenders under the Facility.
		
	Mandatory Prepayments	  	 Including but not limited to:
  

i.   Change of Control; and
  

ii.  100% of extraordinary proceeds received by Borrower (including, but not limited to, insurance
proceeds and casualty proceeds following exercise of customary reinvestment rights).

		
	Optional Prepayments:	  	Borrower shall have the right to partially prepay the loan at any time without premium or penalty (except as set forth below); provided that such prepayments are not less than $5 million (or, if less, the remaining balance of
the Facility) other than in the case of Optional Prepayments made with the proceeds of transactions under clause (v) of Permitted Asset Sales. All such prepayment shall repay accrued PIK at par and, with respect to the optional repayment of the
loan in full, shall include the Prepayment Premium.
		
	Change of Control:	  	See Appendix B.

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 21 

			
	Events of Default:	  	 Usual and customary for financings of this type including but not limited to the following:

 
 i.   Payment default caused by
the failure to pay the Minimum Cash Coupon, Mandatory Amortization and Turbo Amortization (subject to Equity Cures) under the Facility
  

ii.  Cross-Acceleration to all financings which sit downstream of SEC whereby the indebtedness has
notional par value that exceeds $25 million
  

iii.   Cross-Default to financings that sit downstream of SEC with indebtedness that has a notional
par value exceeding $25 million; the Cross-Default triggers shall be subject to a 60-day grace period (other than with respect to clause (d)) and shall be limited to:

 
 a.   Payment default of
interest or mandatory principal payments
  

b.  Financial covenants (i.e., debt service coverage ratio, where applicable) to the extent that failure
to satisfy such covenant is a default under the senior facility
  

c.   Solely with respect to warehouse facilities and term securitizations (including the Goldman
Sachs and Credit Suisse facilities), the occurrence of any event that causes or would cause (absent a waiver or amendment) a cash sweep, cash trap or rapid amortization event (i.e., “full sweep event” or “early amortization
event”)
  
 d.  A warehouse
facility shall have a balance of greater than $25 million and such facility is maturing within 30 days
  

iv.   Breach of the CLTV Covenant (subject to 10-day cure
period from delivery of financial statements for the applicable quarter)
  

v.  Breach of certain other Negative Covenants and Affirmative Covenants (with grace periods usual and
customary for financings of this type and to be agreed upon, as applicable)
  

vi.   Removal of SEC or any SEC affiliate as a manager of (x) any partnership or joint venture
with a cash or tax equity investor or (y) any other vehicle subject to a Minority Portfolio Sale, if the value of the Asset Portfolio held by such partnership, joint venture or other vehicle exceeds $25 million

 

		
	Default Interest:	  	3.0% in excess of the applicable Interest Rate upon the occurrence of an Event of Default.

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 22 

			
		
	Bankruptcy:	  	Compliance with separateness covenants that are usual and customary for structured finance transactions, including a requirement of affirmative approval by an independent director of bankruptcy actions by the Borrower.10
		
	Step-In Rights:	  	Upon the occurrence and during the continuation of an Event of Default, the Lender shall have the right to exercise remedies that are usual and customary for financings of this type, including, but not limited to, foreclosing on the
equity of the Borrower and foreclosing on the assets of the Borrower (including any equity owned by the Borrower).
		
	Expenses:	  	Per the mandate letter executed April 20, 2017 (as amended on June 29, 2017, July 28 2017 and as further amended, amended and restated, or otherwise modified from time to time, “Mandate Letter”).
		
	Representations and Warranties:	  	Usual and customary for transactions of this type
		
	Required Lenders:	  	50.01%
		
	Assignments:	  	 Prior to the occurrence of any of the below events, any assignment of the Loans shall require the consent (not to be unreasonably withheld)
of the Administrative Agent (other than assignments of the Loans by Lenders to related funds and to investors of such Lender or of such related fund), provided that no such assignment shall be to a Disqualified Lender. Participations shall be
permitted.
  
 Following the occurrence of any of the following, the Loans may be
assigned to any entity with the consent (not to be unreasonably withheld) of the Administrative Agent:
  

i.   Bankruptcy of the Borrower, Parent or NewCo

 
 ii.  Bankruptcy of any subsidiary of
Borrower (wholly-owned or partially owned) whereby any class of creditors has indebtedness which has notional par value exceeding $25 million
  

iii.   Event of Default which has not been cured for 60 days

 
 iv.   Liquidity Breach which
has not been cured for 120 days

		
	Governing Law:	  	State of New York

  

	10 	 NOTE: Parties to discuss independent directors at Management Entities. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 23 

 APPENDIX A 

RESTRICTED DEBT INCURRENCE AND AMENDMENTS 

Borrower shall not, and shall not permit any subsidiary to issue Indebtedness (including any Indebtedness which was incurred prior to the acquisition of such
subsidiary directly or indirectly by the Borrower, which shall be deemed to be issued upon the acquisition of such subsidiary), or amend the terms of the most recently executed agreement, to the extent such execution causes any of the following:

  

	i.	 Portfolio Diversification Requirement – Any class of creditors under a single financing
agreement entered into after the Closing Date would be secured by assets (“Asset Pool”) the value of which exceeds 33% of the total asset pool value (such values calculated utilizing the Discount Rate) controlled or owned by SEC and no two
pools in aggregate exceed 60%. 

  

	ii.	 Anti-Layering - The security of the transaction reflects security or a guarantee that is deemed
as 2nd lien, mezzanine debt, structurally subordinated, unsecured or preferred (i.e. junior capital) including Passive Preferred Sales whereby the underlying downstream assets are encumbered by another class of creditors or preferred equity
investors, provided, however, that the following shall be permitted (subject to satisfying all other requirements under this Appendix A including (i), (iii), and (iv)): 

 

	 	•	 	 Debt transactions commonly known as “back-leverage” whereby the lender is subordinated to tax equity,
and 

  

	 	•	 	 “B” and “C” tranches related to securitizations 

For the avoidance of doubt, (x) no debt shall be incurred by Borrower or any other subsidiary of SEC which sits between SEC and any other
class of creditors of any Asset Pool, whether Wholly-Owned Assets or Partially-Owned Assets, (y) the security of the transaction may not include a lien on any assets that are pledged to the Lender as security for the Facility and (z) the
Borrower shall be permitted to do Passive Preferred Sales (and other preferred equity sales) so long as they are treated and qualified as Permitted Asset Sales. 

The Borrower will not permit any subsidiary to enter into any financing after the Closing Date that contains a change of control or assignment
provision that would be triggered by a foreclosure on the equity interests in SEC. 
 The Borrower will cause each subsidiary to use
commercially reasonable efforts not to enter into any financing after the Closing Date that contains a change of control or assignment provision that would be triggered by a foreclosure on the equity interests in Borrower or other downstream entity
(provided, that, such foreclosure can be subject to customary limitations (such as transferee satisfying creditworthiness and operational requirements)). “Warehouse CoC Violation” means the entry of a warehouse or aggregation financing
that contains such a restriction. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 24 

	iii.	 Value Creation 

  

	 	•	 	 Asset Pool - The weighted average interest rate for the Asset Pool is less than 200 basis points below the
weighted average unlevered asset yield (“Unlevered Asset Yield” or “UAY”) whereby UAY is calculated as Sunnova’s internal underwriting model post-tax equity; 

 

	iv.	 Leverage Guidelines 

  

	 	•	 	 The principal amount of the debt obligation for a single Asset Pool to exceed an advance rate of, prior to
12/31/19, 80.0% and, thereafter, 85.0% (except for in each case existing senior facilities and refinancings thereof that provide for a higher advance rate) when utilizing a market standard methodology included but not limited to PV-6 of Aggregate Discounted Solar Asset Balance (“ADSAB”) 

  

	 	•	 	 Any transaction which causes the CLTV level to increase by more than 10.0% relative to the previous
quarter’s actual level 

  

	 	•	 	 No re-leveraging of assets that were subject to the “Class C
Notes” issued by Helios Issuer, LLC until after 9/30/18 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 25 

 APPENDIX B 

CHANGE OF CONTROL DEFINITION 

“Change of Control” means: 
  

	i.	 the consummation of a transaction or a series of transactions after which a person or two or more persons
acting in concert (in each case, other than the Existing Owners and their respective affiliates) obtains a majority of seats on the board of directors or equivalent governing body of NewCo; 

 

	ii.	 the consummation of a transaction or a series of transactions after which a person or two or more persons
acting in concert (in each case, other than the Existing Owners and their respective affiliates) shall acquire or hold beneficial ownership, directly or indirectly, of equity securities of NewCo representing (x) more than 50% of the combined
voting power of all equity securities of NewCo entitled to vote in the election of the members of the board of directors or equivalent governing body of NewCo or (y) more than 50% of the equity value of all equity securities of NewCo; or

  

	iii.	 a transaction or a series of transactions in which ECP or any of its affiliates directly or indirectly
transfers or otherwise disposes any of its interests in NewCo. 

 provided, however, that the following shall not constitute a Change of
Control: 
  

	i.	 transfers of any class of securities in NewCo among or to other affiliates; 

 

	ii.	 upon a Qualified IPO one or more of the Existing Owners and their respective affiliates collectively hold,
directly or indirectly, equity securities of NewCo representing more than 35% of the combined voting power of all equity securities of NewCo entitled to vote in the election of the members of the board of directors or equivalent governing body of
NewCo. 

 “Existing Owners” shall mean, collectively, Energy Capital Partners III, LP, Energy Capital Partners III-A, LP, Energy Capital Partners III-B, LP, Energy Capital Partners III-C, LP and Energy Capital Partners III-D, LP, any other existing owners of Sunnova as of Closing and each of their Permitted Transferees (as defined in the Investors Agreement, dated as of the Third Restatement Effective Date, by and among Sunnova
and the other signatories thereto). 
 “Qualified IPO” shall mean a firm commitment underwritten initial public offering of securities of NewCo or
any entity into which securities of NewCo may be converted into, contributed for, or exchanged for (an “IPO Entity”) pursuant to an effective registration statement filed under the Securities Act of 1933, as amended, with aggregate gross
proceeds, net of the underwriting discount and commissions, to NewCo or IPO Entity, as applicable, of not less than $100 million. 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 26 

 APPENDIX C 

CLTV COVENANT 
  

					
	9/30/2017	  	 	NA	 
		
	12/31/2017	  	 	[***]%	 
		
	3/31/2018	  	 	[***]%	 
		
	6/30/2018	  	 	[***]%	 
		
	9/30/2018	  	 	[***]%	 
		
	12/31/2018	  	 	[***]%	 
		
	3/31/2019	  	 	[***]%	 
		
	6/30/2019	  	 	[***]%	 
		
	9/30/2019	  	 	[***]%	 
		
	12/31/2019	  	 	[***]%	 
		
	3/31/2020	  	 	[***]%	 
		
	6/30/2020	  	 	[***]%	 
		
	9/30/2020	  	 	[***]%	 
		
	12/31/2020	  	 	[***]%	 
		
	3/31/2021	  	 	[***]%	 
		
	6/30/2021	  	 	[***]%	 
		
	9/30/2021	  	 	[***]%	 
		
	12/31/2021	  	 	[***]%	 
		
	3/31/2022	  	 	[***]%	 

  
 [***] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 27 

 APPENDIX D - ORG CHART 

 
 

 

  
 [***] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.EX-4.7

 Exhibit 4.7 

Execution Version 

SECOND SUPPLEMENTAL INDENTURE 

This Second Supplemental Indenture (this “Supplemental Indenture”), dated as of September 28, 2018 (the
“Effective Date”), is by and among Sunnova Energy Corporation (the “Issuer”) and Wilmington Trust, National Association, as trustee (the “Trustee”) relating to those certain 12.00% Senior Secured
Notes due 2018 (each a “Note” and collectively, the “Notes”) of the Issuer, issued pursuant to the Indenture, dated as of April 24, 2017 (as amended, amended and restated, supplemented or otherwise modified
from time to time, the “Indenture”), as amended by that certain First Supplemental Indenture, dated as of November 21, 2017, by and between the Issuer, the Trustee and Wilmington Trust, National Association, as collateral
trustee. 
 INTRODUCTION 

WHEREAS, the Issuer wishes that the Trustee (on behalf of and at the direction of each holder of a Note) acknowledge and agree to amend the
Indenture and the corresponding provisions of the Note in order to extend the Stated Maturity from October 24, 2018 to January 24, 2019; 

WHEREAS, Section 9.02 of the Indenture requires the consent of each holder of a Note in order to extend the Stated Maturity; 

WHEREAS, the Trustee has received the documents required to be delivered to it pursuant to the Indenture, including evidence of the consent of
Cede & Co., nominee for The Depository Trust Company, to the execution and delivery of this Supplemental Indenture by each holder of a Note; 

WHEREAS, Section 9.03 of the Indenture provides that an amendment to the Indenture and the Notes shall become effective upon the
requisite consents of the holders of the Notes, the receipt by the Trustee of the Opinion of Counsel and Officers’ Certificate required under Sections 9.05 and 14.04 of the Indenture and the execution by the Trustee of the Supplemental
Indenture; and WHEREAS, all actions and documents required for the execution and delivery by the Trustee of this Supplemental Indenture have been provided and this Supplemental Indenture is authorized pursuant to the Indenture. 

NOW, THEREFORE, the Issuer and the Trustee hereby agree as follows: 

Section 1. Defined Terms; Other Definitional Provisions. As used in this Supplemental Indenture, each of the terms defined
in the opening paragraph and the Recitals above shall have the meanings assigned to such terms therein. Each term defined in the Indenture and used herein without definition shall have the meaning assigned to such term in the Indenture, unless
expressly provided to the contrary. Article, Section, Schedule, and Exhibit references are to Articles and Sections of and Schedules and Exhibits to this Supplemental Indenture, unless otherwise specified. The words “hereof”,
“herein”, and “hereunder” and words of similar import when used in this Supplemental Indenture shall refer to this Supplemental Indenture as a whole and not to any particular provision of this Supplemental Indenture. The term
“including” means “including, without limitation”. Paragraph headings have been inserted in this Supplemental Indenture as a matter of convenience for reference only and it is agreed that such paragraph headings are not a part of
this Supplemental Indenture and shall not be used in the interpretation of any provision of this Supplemental Indenture. 

 Section 2. Amendment. Subject to the terms and conditions of this
Supplemental Indenture, pursuant to Section 9.02 of the Indenture and in reliance on the consents of each holder of a Note delivered in connection herewith (constituting all of the outstanding Notes), upon the effectiveness of this Supplemental
Indenture: 
 (a) Exhibit A (Form of Note) of the Indenture shall be amended by deleting such exhibit in its entirety and replacing it
with the Form of Note attached hereto as Exhibit A; and 
 (b) In order to reflect the extension of the Stated Maturity from
October 24, 2018 to January 24, 2019, any and all Notes issued and outstanding as of the Effective Time (the “Existing Notes”) shall be delivered to the Trustee for cancellation and exchanged for new notes (in the same
aggregate principal amount as the Existing Notes) (such new notes, the “Amended and Restated Notes”) in the form of Exhibit A to this Supplemental Indenture. In furtherance of the foregoing, the Issuer covenants and agrees to
deliver to the Trustee an Authentication Order and a written order for the Trustee to cancel the Existing Notes (which may be one document), and such other documents as may be required pursuant to the Indenture. 

For the avoidance of doubt, the Amended and Restated Notes issued on the date hereof, substantially in the form of Exhibit A hereto, in replacement of
all outstanding Notes shall be deemed to be the “Initial Notes” under the Indenture. 
 Section 3. Representations and
Warranties. 
 (a) The Issuer hereby represents and warrants that: (i) after giving effect to this Supplemental Indenture and
that certain Third Amendment to Purchase Agreement, dated as of May 31, 2018 (the “Purchase Agreement Amendment”), by and among the Issuer and the holders of the Notes, the representations and warranties contained in Article
III of the Purchase Agreement and in each other Note Document are true and correct in all material respects, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such
representation and warranty shall be true and correct in all respects, on and as of the Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct
in all material respects, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall be true and correct in all respects, as of such earlier date;
(ii) the execution, delivery and performance of this Supplemental Indenture are within the corporate power and authority of the Issuer and have been duly authorized by appropriate corporate action and proceedings; (iii) this Supplemental
Indenture constitutes the legal, valid, and binding obligation of the Issuer enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of
creditors generally and general principles of equity; (iv) there are no governmental or other third party consents, licenses and approvals required in connection with the execution, delivery, performance, validity and enforceability of this
Supplemental Indenture; and (v) the security interests under the Security Documents are valid and subsisting and secure the Issuer’s obligations under the Note Documents. 

  
 -2- 

 Section 4. Conditions to Effectiveness. This Supplemental Indenture shall
become effective and enforceable against the parties hereto on the Effective Date upon the satisfaction of the following conditions precedent: 

(a) the Trustee shall have received this Supplemental Indenture duly executed by the Issuer and the Trustee; 

(b) the Issuer shall have paid on the Effective Date all costs and expenses which are payable pursuant to Section 7.07 of the Indenture;
and 
 (c) the Trustee shall have received the documents required to be delivered to it pursuant to the Indenture, including evidence of the
consent of Cede & Co., nominee for The Depository Trust Company on behalf of 100% of the Holders, constituting the requisite Holders under the Indenture, to the execution and delivery of this Supplemental Indenture. 

Section 5. Acknowledgments and Agreements. 

(a) The Issuer does hereby adopt, ratify, and confirm the Indenture and the other Note Documents and acknowledges and agrees that the Indenture
and the other Note Documents are and remain in full force and effect, and the Issuer acknowledges and agrees that its respective liabilities and obligations under the Indenture and the other Note Documents are not impaired in any respect by this
Supplemental Indenture. 
 (b) The Issuer hereby also agrees and acknowledges that no course of dealing and no delay in exercising any right,
power, or remedy conferred to the Trustee in the Indenture or in any other Note Documents or now or hereafter existing at law, in equity, by statute, or otherwise shall operate as a waiver of or otherwise prejudice any such right, power, or remedy.

 (c) For the avoidance of doubt, the Issuer hereby also agrees and acknowledges that Section 2 above shall not
operate as a waiver of or otherwise prejudice any of the rights and remedies of the Trustee otherwise other than as expressly provided in Section 2. The Trustee hereby expressly reserves all of its rights, remedies, and
claims under the Note Documents. Nothing in this Supplemental Indenture shall constitute a waiver or relinquishment of (i) any Default or Event of Default under any of the Note Documents, (ii) any of the agreements, terms or conditions
contained in any of the Note Documents, (iii) any rights or remedies of the Trustee with respect to the Note or (iv) the rights of the Trustee to collect the full amounts owing under the Note Documents as and when such amounts are due and
payable under the terms of the Note Documents. 
 (d) This Supplemental Indenture is a Note Document for the purposes of the provisions of
the other Note Documents. Without limiting the foregoing, any breach of representations, warranties, and covenants under this Supplemental Indenture shall be a Default or Event of Default, as applicable, under the Indenture. 

(e) The Issuer shall indemnify and hold harmless the Trustee from and against any and all damages, losses, costs, and expenses (including,
without limitation, legal fees and expenses) relating to this Supplemental Indenture in accordance with Section 7.07 of the Indenture. 

  
 -3- 

 (f) The Issuer covenants and agrees to pay the Trustee’s fees and expenses in
connection with the execution and delivery of this Supplemental Indenture. 
 Section 6. Reaffirmation of Liens. The
Issuer (a) is party to the Security Documents securing and supporting the Obligations under the Note Documents, (b) represents and warrants that it has no defenses to the enforcement of the Security Documents and that according to their
terms the Security Documents will continue in full force and effect to secure the Obligations under the Note Documents, as the same may be amended, supplemented, or otherwise modified, and (c) acknowledges, represents, and warrants that the
liens and security interests created by the Security Documents are valid and subsisting and create an acceptable security interest in the collateral to secure the Obligations under the Note Documents, as the same may be amended, supplemented, or
otherwise modified. 
 Section 7. Counterparts. This Supplemental Indenture may be signed in any number of counterparts
and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Transmission by facsimile or other electronic
transmission of an executed counterpart of this Supplemental Indenture shall be deemed to constitute due and sufficient delivery of such counterpart. 

Section 8. Successors and Assigns. This Supplemental Indenture shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted pursuant to the Purchase Agreement and Indenture. 
 Section 9.
Invalidity. In the event that any one or more of the provisions contained in this Supplemental Indenture shall for any reason be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision of this Supplemental Indenture. 
 Section 10. Governing Law. This Supplemental
Indenture shall be governed by and construed in accordance with the internal procedural and substantive laws of the State of New York, without giving effect to the choice of law provisions of such state that would cause the application of the laws
of any other jurisdiction. 
 Section 11. Record Date. The Issuer informs the Trustee that the voting record date for
purposes of this Supplemental Indenture shall be September 28, 2018 (the “Record Date”). 
 Section 12.
Concerning the Trustee. Wilmington Trust, National Association is entering into this Supplemental Indenture solely in its capacity as Trustee under the Indenture, pursuant to the consent of each holder of a Note and in reliance on the
Officers’ Certificate and Opinion of Counsel delivered to the Trustee in connection herewith. The recitals contained herein shall be taken as the statements of the Issuer, and the Trustee assumes no responsibility for the correctness of the
same. 
 Section 13. Entire Agreement. THIS SUPPLEMENTAL INDENTURE, THE INDENTURE AND THE OTHER NOTE DOCUMENTS
CONSTITUTE THE ENTIRE UNDERSTANDING AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY PRIOR AGREEMENTS, WRITTEN OR ORAL, WITH RESPECT THERETO. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

[The remainder of this page has been left blank intentionally.] 

  
 -4- 

 
			
	ISSUER:
	
	SUNNOVA ENERGY CORPORATION

 
			
		
	By:	 	/s/ Jordan Kozar

 
			
	Name:	 	Jordan Kozar
	Title:	 	Executive Vice President and Chief Financial Officer

 
			
	TRUSTEE:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee

 
			
		
	By:	 	/s/ Shawn Goffinet

 
			
	Name:	 	Shawn Goffinet
	Title:	 	Assistant Vice President

  

 EXHIBIT A 

[FORM OF FACE OF NOTE] 

[Global Notes Legend] 
 UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR
SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

[Restricted Notes Legend for Notes Offered in Reliance on Regulation S] 

BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON, NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON,
AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT. 
 [Restricted Notes
Legend] 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF, THE HOLDER
(1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH
REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT WITHIN [IN THE CASE OF RULE 144A NOTES: ONE YEAR] [IN THE CASE OF REGULATION S NOTES: 40 DAYS] AFTER THE LATER OF THE ORIGINAL CLOSING DATE HEREOF AND THE LAST DATE ON WHICH THE
ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) RESELL OR OTHERWISE 

 
TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) INSIDE THE UNITED STATES TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE
SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 903 OR RULE 904 UNDER THE SECURITIES ACT, (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF
AVAILABLE), (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND
“U.S. PERSON” HAVE THE MEANING GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. 
 [Definitive Notes Legend] 

“IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS
SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.” 
 [Original Issue
Discount Legend] 
 “THIS NOTE WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT WITHIN THE MEANING OF SECTIONS 1272, 1273 AND 1275 OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED. YOU MAY CONTACT JORDAN D. KOZAR AT 281.417.0916, WHO WILL PROVIDE YOU WITH ANY REQUIRED INFORMATION REGARDING THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY OF THIS
NOTE.” 

 [FORM OF NOTE] 

SUNNOVA ENERGY CORPORATION 
 No.
[     ] 
  

			
		  	 CUSIP No.                 

ISIN No.                 

$[     ]

 12.00% Senior Secured Note due 2018 

SUNNOVA ENERGY CORPORATION, a Delaware corporation, promises to pay to [        ] or its
registered assigns, the principal sum of $         [or such other amount as is set forth on the Schedule of Increases or Decreases in Global Note attached
hereto]1 on [January 24], 2019. 
 Interest Payment Dates: [March 30], [June 30],
[September 30] and [December 30], 
 Record Dates: [March 15], [June 15], [September 15] and [December 15] 

Additional provisions of this Note are set forth on the other side of this Note. 

 

	1 	 [Use the Schedule of Increases or Decreases language if Note is in Global Form.] 

 IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed manually or
in facsimile by its duly authorized officers. 
  

			
	SUNNOVA ENERGY CORPORATION

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

 Dated: [insert applicable date of issuance] 

 TRUSTEE’S CERTIFICATE OF 

AUTHENTICATION 
 WILMINGTON TRUST, NATIONAL
ASSOCIATION 
 as Trustee, certifies that this is 

one of the Notes 
 referred to in
the Indenture. 
  

			
	By: 	 	 
		 	Authorized Signatory

 Dated: [insert applicable date of issuance] 

 

	*/	 If the Note is to be issued in global form, add the Global Notes Legend and the attachment from Exhibit
A captioned “TO BE ATTACHED TO GLOBAL NOTES—SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE.” 

 [FORM OF REVERSE SIDE OF NOTE] 

12.00% Senior Secured Note Due 2018 
 1.
Interest 
 SUNNOVA ENERGY CORPORATION, a Delaware corporation (together with its successors and assigns, the
“Issuer”), promises to pay interest on the principal amount of this Note (including any PIK Notes and increase in principal as a result of the payment of PIK Interest) at the annual rate of 6.00% payable in cash (“cash
interest”) plus (2) 6.00% (the “PIK Interest”), payable by increasing the principal amount of the outstanding Notes represented by one or more Global Notes or, with respect to Definitive Notes represented by individual
certificates, if any, by issuing additional “PIK Notes” in certificated form, in each case by rounding up to the nearest $1.00. The Issuer shall pay interest quarterly on [March 30], [June 30], [September 30] and [December 30] of each year
(each an “Interest Payment Date”), commencing [June 30, 2017]. Any PIK Notes issued in certificated form will be dated as of the applicable interest payment date and will bear interest from and after such date. Following an increase in the
principal amount of the outstanding Notes as a result of a PIK Payment, the Notes will accrue interest on such increased principal amount from and after the related interest payment date of such PIK Payment. References herein and in the Indenture to
the “principal amount” of the Notes include any increase in the principal amount of the outstanding Notes as a result of a PIK Payment. On any interest payment date on which the Issuers pay PIK Interest with respect to a Global Note, the
principal amount of such Global Note will increase by an amount equal to the interest payable, rounded up to the nearest $1.00, to be allocated for the credit of the holders pro rata in accordance with their interests and rounded to the nearest
$1.00 in accordance with the procedures of The Depository Trust Company (“DTC”). Interest on the Notes shall accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid or
duly provided for, from the date of initial issuance, until the principal hereof is due; provided, that, if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The Issuer
shall pay interest (including, to the extent legally allowed, post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate borne by the Notes, and it shall pay interest (including, to the extent legally
allowed, post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the same rate to the extent lawful. 

2. Method of Payment 
 The Issuer shall
pay interest on the Notes (except defaulted interest) to the Persons who are registered holders at the close of business on [March 15], [June 15], [September 15] and [December 15] (each a “Record Date”) immediately preceding the Interest
Payment Date even if Notes are canceled after the Record Date and on or before the Interest Payment Date (whether or not a Business Day). Holders must surrender Notes to the Paying Agent to collect principal payments. The Issuer shall pay principal,
premium, if any, and interest in money of the United States of America that at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Notes represented by a Global Note (including principal,

 
premium, if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by DTC or any successor depository. The Issuer shall make all payments in
respect of a Definitive Note (including principal, premium, if any, and interest) at the office of the Paying Agent, except that, at the option of the Issuer, payment of interest may be made by mailing a check to the registered address of each
holder thereof; provided, however, that payments on the Notes may also be made by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such holder elects payment by wire transfer by giving written notice
to the Trustee or Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 

At all times, PIK Interest on the Notes will be payable: (i) with respect to Notes represented by one or more Global Notes registered in
the name of, or held by, DTC (or any successor depositary) or its nominee on the relevant record date, by increasing the principal amount of the outstanding Global Notes, effective as of the applicable interest payment date, by an amount equal to
the amount of PIK Interest for the applicable interest period (rounded up to the nearest whole dollar) (“PIK Payment”) at the request of the Issuers to authenticate or increase the Global Note and (ii) with respect to
Definitive Notes, if any, by issuing PIK Notes in certificated form, dated as of the applicable interest payment date, in an aggregate principal amount equal to the amount of PIK Interest for the applicable interest period (rounded up to the nearest
whole dollar), and the Trustee will, at the request of the Issuers, authenticate and deliver such PIK Notes in certificated form for original issuance to the holders on the relevant Record Date, as shown by the records of the register of holders.

 3. Paying Agent and Registrar 

Initially, Wilmington Trust, National Association, as trustee under the Indenture (the “Trustee”), will act as Paying Agent and
Registrar. The Issuer may appoint and change any Paying Agent or Registrar without notice. The Issuer may act as Paying Agent or Registrar. 
 4.
Indenture and Security Documents 
 The Issuer issued the Notes under an Indenture dated as of April 24, 2017 (the
“Indenture”), between the Issuer, the Trustee and the Collateral Trustee. Capitalized terms used herein are used as defined in the Indenture, unless otherwise indicated. The terms of the Notes include those stated in the Indenture.
The Notes are subject to all terms and provisions of the Indenture, and the holders (as defined in the Indenture) are referred to the Indenture for a statement of such terms and provisions. If and to the extent that any provision of the Notes
limits, qualifies or conflicts with a provision of the Indenture, such provision of the Indenture shall control. 
 The Notes are senior
secured obligations of the Issuer. The Initial Notes, the PIK Notes and any Additional Notes are treated as a single class of securities under the Indenture except as otherwise set forth therein. The Indenture imposes certain limitations on the
ability of the Issuer and its Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other distributions, Incur Indebtedness, enter into consensual restrictions upon the payment of certain
dividends and distributions by such Subsidiaries, issue or sell shares of capital stock of the Issuer and such Subsidiaries, enter into or permit certain transactions with Affiliates, create or Incur Liens and make Asset Sales. The Indenture also
imposes limitations on the ability of the Issuer to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its property. 

 The Notes are secured by Note Liens on the Collateral pursuant to the Security Documents.
The rights of the holders in the Collateral are subject to the terms of the Collateral Trust Agreement. 
 5. Redemption 

At any time following the Closing Date the Issuer may redeem the Notes at its option, in whole at any time or in part from time to time, upon
not less than 15 nor more than 60 days’ prior notice mailed by first-class mail, or otherwise delivered in accordance with the procedures of DTC to each holder’s registered address (with a copy to the Trustee), at a redemption price equal
to 100% of the aggregate principal amount of the notes redeemed, plus accrued and unpaid cash interest, together with an amount of cash equal to all accrued and unpaid PIK Interest, on the Notes, to, but excluding, the redemption date
(subject to the right of holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date occurring on or prior to the redemption date); provided, that, any such redemption shall be for an aggregate
principal amount of Notes not less than $5,000,000 or such lesser amount that represents the aggregate outstanding principal amount of the Notes. 
 6.
Mandatory Redemption 
 Except for the IPO Redemption pursuant to Paragraph 9 below and the required redemption upon certain asset
sales, the Issuer will not be required to make any mandatory redemption payments or sinking fund payments with respect to the Notes. 
 7. Notice of
Redemption 
 Notices of redemption will be mailed by first class mail at least 15 but not more than 60 days before the redemption date,
to each holder of Notes to be redeemed at its registered address (with a copy to the Trustee) or otherwise in accordance with the procedures of DTC except that redemption notices may be mailed more than 60 days prior to the redemption date if the
notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture pursuant to Article VIII thereof. If money sufficient to pay the redemption price of and accrued and unpaid interest on all Notes (or
portions thereof) to be redeemed on the redemption date is deposited with a Paying Agent on or before the redemption date and certain other conditions are satisfied, on and after such date, interest ceases to accrue on such Notes (or such portions
thereof) called for redemption. 
 Notice of any optional redemption of the Notes in connection with a corporate transaction may, at the
Issuer’s discretion be given prior to the completion of such corporate transaction, and any such redemption or notice may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited to, the
completion of the related corporate transaction. In addition, if such redemption or purchase is subject to satisfaction of one or more conditions precedent, such notice shall describe each such condition, and if applicable, shall state that, in the
Issuer’s discretion, the redemption date may be extended until such time as any or all 

 
such conditions shall be satisfied or waived, or such redemption or purchase may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been
satisfied by the redemption date, or by the redemption date as so extended. The Issuer shall provide written notice to the Trustee prior to the close of business two Business Days prior to the redemption date if any such redemption has been
rescinded or delayed, and upon receipt the Trustee shall provide such notice to each holder of the Notes in the same manner in which the notice of redemption was given. 

8. Repurchase of Notes at the Option of the Holders upon Change of Control; Mandatory Redemption upon Asset Sales 

Upon the occurrence of a Change of Control, each holder shall have the right to require the Issuer to repurchase all or any part of such
holder’s Notes at a purchase price in cash equal to 100% of the principal amount thereof, including any PIK Notes or any increased principal amount of Notes as payment for PIK Interest, plus accrued and unpaid cash interest, together with an
amount of cash equal to all accrued and unpaid PIK Interest, on the Notes, to, but excluding, the date of repurchase (subject to the right of the holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment
Date), in accordance with the terms contemplated in Section 4.08 if the Indenture. 
 In accordance with Section 4.06 of the
Indenture, the Issuer will be required to redeem or purchase Notes upon the occurrence of certain asset sales. Any such redemption shall be conducted in compliance with Article III of the Indenture, including Section 3.03 through
Section 3.08 thereof. 
 9. Mandatory Redemption Upon IPO 

Upon an IPO, HoldCo shall contribute the proceeds to the Issuer, if applicable, and the Issuer shall be required to apply the net cash proceeds
received from any such IPO after deduction of all discounts, underwriters’ commissions and other reasonable expenses directly related to the IPO (the “IPO Proceeds”) to, upon 10 days’ prior written notice to the
Trustee and the holders given within 5 days upon the closing of such IPO, redeem the maximum principal amount of Notes that is at least $2,000 and an integral multiple of $1,000 in excess thereof (or if a PIK Payment has been made, in the amount of
$1.00 or any integral multiple of $1.00 in excess thereof) that may be purchased out of the IPO Proceeds (the “IPO Redemption”) at a redemption price in cash (the “IPO Redemption Price”) in an amount equal to 100%
of the principal amount thereof, plus accrued and unpaid interest, together with an amount of cash equal to all accrued and unpaid PIK Interest, to, but excluding, the mandatory redemption date, and will be payable in cash, to the date fixed for the
mandatory redemption, in accordance with the procedures set forth in Section 3.09 of the Indenture. 
 An IPO Redemption shall be
conducted in compliance with Article III of the Indenture, including Section 3.03 through Section 3.08 thereof. 

 10. Denominations; Transfer; Exchange 

The Notes are in registered form, without coupons, in minimum denominations of $2,000 principal amount and integral multiples of $1,000 in
excess thereof (or if a PIK Payment has been made, in the amount of $1.00 or any integral multiple of $1.00 in excess thereof). A holder shall register the transfer of or exchange of the Notes in accordance with the Indenture. Upon any registration
of transfer or exchange, the Registrar and the Trustee may require a holder, among other things, to furnish appropriate endorsements or transfer documents and the Issuer may require a holder to pay any taxes required by law or permitted by the
Indenture. The Registrar need not register the transfer of or exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the portion of the Note not to be redeemed) or to transfer or exchange any Notes for a
period of 15 days prior to a selection of Notes to be redeemed or between a Record Date and the related Interest Payment Date. 
 11. Persons Deemed
Owners 
 The registered holder of this Note shall be treated as the owner of it for all purposes. 

12. Unclaimed Money 
 If money for the
payment of principal or interest remains unclaimed for two years, the Trustee or the Paying Agent shall pay the money back to the Issuer at its written request unless an abandoned property law designates another Person. After any such payment, the
holders entitled to the money must look to the Issuer for payment as general creditors and the Trustee and a Paying Agent shall have no further liability with respect to such monies. 

13. Discharge and Defeasance 
 Subject to
certain conditions set forth in the Indenture, the Issuer at any time may terminate some of or all of its obligations under the Notes and the Indenture if the Issuer deposits with the Trustee money or U.S. Government Obligations for the payment of
principal and interest on the Notes to redemption or maturity, as the case may be. 
 14. Amendment; Waiver 

Subject to certain exceptions set forth in the Indenture, (a) the Indenture or the Notes may be amended with the written consent of the
holders of at least a majority in aggregate principal amount of all the outstanding Notes under the Indenture and (b) any past default or compliance with any provisions may be waived with the written consent of the holders of at least a
majority in principal amount of all the outstanding Notes under the Indenture. Subject to certain exceptions set forth in the Indenture, without the consent of any holder, the Issuer and the Trustee may amend the Indenture or the Notes (i) to
cure any ambiguity, omission, defect or inconsistency; (ii) to provide for the assumption by a Successor (with respect to the Issuer) of the obligations of the Issuer under the Indenture and the Notes; (iii) to provide for uncertificated
Notes in addition to or in place of certificated Notes, provided, however, that the uncertificated Notes are issued in registered form for purposes of Sections 163(f), 871(h) and 881(c)(2) of the Code, or in a manner such that the
uncertificated Notes are described in Section 163(f)(2)(B) of the Code; (iv) to add a guarantee or obligor with respect to the Notes; (v) to add to the covenants of the Issuer for the benefit of the holders or to surrender any right
or power herein conferred upon the Issuer; (vi) to make any change that would provide any additional rights or benefits to the holders or does not adversely affect the rights of any holder; (vii) to provide for the issuance of Additional
Notes, which shall have terms substantially identical in all material respects to the Initial Notes, and which 

 
shall be treated, together with any outstanding Initial Notes, as a single issue of securities; (viii) to provide for the issuance of PIK Notes or the increase of the principal amount of the
Notes to pay PIK Interest in accordance with the terms of this Indenture; (ix) in the event that any PIK Notes are issued as Definitive Notes, to make appropriate amendments to this Indenture to reflect an appropriate minimum denomination of
certificated PIK Notes and establish minimum redemption amounts for certificated PIK Notes; (x) to clarify the procedures for adjustment of any series of Notes in accordance with the terms thereof upon the occurrence of any Draw Down Request
Amount not being funded in accordance with the terms of the Purchase Agreement; (xi) to release or subordinate Liens on Collateral in accordance with the Note Documents; (xii) to confirm and evidence the release, termination or discharge
of any Lien with respect to or securing the Notes when such release, termination or discharge is provided for in accordance with this Indenture and the other Note Documents; (xiii) to add any Collateral, to secure the payments due to the
holders or to evidence the release, termination or discharge of any Liens, in each case as provided in this Indenture or the other Note Documents, as applicable; (xiv) to make, complete or confirm any grant of Collateral permitted or required
by this Indenture or any of the Security Documents establishing Note Liens; or (xv) to evidence or provide for the acceptance of appointment under the Indenture of a successor Trustee. The following amendments, supplements to or waivers of the
provisions of the Indenture or any Note Documents will require the written consent of the holders of at least 66 2/3% in aggregate principal amount of the Notes then outstanding: (i) the release of all or substantially all of the Collateral
from the Liens securing the Notes; (ii) any changes to Section 4.03 of the Indenture and any definitions related thereto; (iii) any changes to Section 4.04 of the Indenture and any definitions related thereto; (iv) any
changes to Section 4.09 of the Indenture and any definitions related thereto; and (v) any changes to the definition of “Change of Control” and the provisions of Section 4.08 of the Indenture. 

15. Defaults and Remedies 
 If an Event of
Default (other than a Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer) occurs and is continuing, the Trustee or the holders of at least 33% in principal amount of all outstanding Notes under the Indenture
by notice to the Issuer (with a copy to the Trustee) may declare the principal of, premium, if any, and accrued but unpaid interest on all the Notes under the Indenture to be due and payable. Upon such a declaration, such principal and interest will
be due and payable immediately. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer occurs, the principal of, premium, if any, and interest on all the Notes will become immediately due and
payable without any declaration or other act on the part of the Trustee or any holders. The holders of a majority in principal amount of all outstanding Notes under the Indenture may rescind any such acceleration with respect to the Notes and its
consequences. 
 If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or
powers under the Indenture at the request or direction of any of the holders unless such holders have offered to the Trustee indemnity or security satisfactory to the Trustee against any loss, liability or expense and certain other conditions are
complied with. No holder may pursue any remedy with respect to the Indenture unless (i) such holder has previously given the Trustee notice that an Event of Default is continuing, (ii) holders of at least 33% in principal amount of all the
outstanding Notes under the Indenture have requested the Trustee to pursue the remedy, (iii) such holders have offered the Trustee security or indemnity 

 
satisfactory to it against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or
indemnity, and (v) the holders of a majority in principal amount of all the outstanding Notes under the Indenture have not given the Trustee a direction inconsistent with such request within such 60-day
period. Subject to certain restrictions, the holders of a majority in principal amount of all outstanding Notes under the Indenture are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the
Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other
holder or that would involve the Trustee in personal liability. Prior to taking any action under the Indenture, the Trustee shall be entitled to indemnification reasonably satisfactory to it against all losses and expenses caused by taking or not
taking such action. 
 16. Trustee Dealings with the Issuer 

The Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with
and collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. 

17. No Recourse Against Others 
 No
director, officer, employee, manager, incorporator or holder of any Equity Interests (except, if applicable, HoldCo) in the Issuer or any direct or indirect parent companies, as such, will have any liability for any obligations of the Issuer under
the Notes or the Indenture, as applicable, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are
part of the consideration for issuance of the Notes. 
 18. Authentication 

This Note shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually signs the certificate of
authentication on the other side of this Note. 
 19. Abbreviations 

Customary abbreviations may be used in the name of a holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the
entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

20. Governing Law 
 THIS SECURITY SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. 

 21. CUSIP Numbers; ISINs 

The Issuer has caused CUSIP numbers and ISINs to be printed on the Notes and have directed the Trustee to use CUSIP numbers and ISINs in
notices of redemption as a convenience to the holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon. 
 The Issuer will furnish to any holder of Notes upon written request and without charge to the
holder a copy of the Indenture which has in it the text of this Note. 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign
and transfer this Note to: 
  
  

(Print or type assignee’s name, address and zip code) 
  

 
 (Insert assignee’s soc. sec. or
tax I.D. No.) 
 and irrevocably appoint                  agent to transfer
this Note on the books of the Issuer. The agent may substitute another to act for him. 
  

							
	Date:	  	  
	  	Your Signature: 	  	  

  
  

Sign exactly as your name appears on the other side of this Note. 

Signature Guarantee: 
  

							
	Date:	 	  
	 	    	  	  

	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee	 		  	Signature of Signature Guarantee

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFER RESTRICTED NOTES 
 This
certificate relates to $                 principal amount of Notes held in (check applicable space)
             book-entry or              definitive form by the undersigned. 

The undersigned (check one box below): 
  

	☐	 has requested the Registrar by written order to deliver in exchange for its beneficial interest in the Global
Note held by the Depository a Note or Notes in definitive, registered form of authorized denominations and an aggregate principal amount equal to its beneficial interest in such Global Note (or the portion thereof indicated above);

  

	☐	 has requested the Registrar by written order to exchange or register the transfer of a Note or Notes.

 In connection with any transfer of any of the Notes evidenced by this certificate occurring while this Note is still a Transfer
Restricted Definitive Note or a Transfer Restricted Global Note, the undersigned confirms that such Notes are being transferred in accordance with its terms: 

CHECK ONE BOX BELOW 
  

					
	(1)	  	☐	  	to the Issuer; or
			
	(2)	  	☐	  	to the Registrar for registration in the name of the holder, without transfer; or
			
	(3)	  	☐	  	pursuant to an effective registration statement under the Securities Act of 1933; or
			
	(4)	  	☐	  	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to whom
notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or
			
	(5)	  	☐	  	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933 and such Note shall be held immediately after the transfer
through Euroclear or Clearstream until the expiration of the Restricted Period (as defined in the Indenture); or
			
	(6)	  	☐	  	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations and
agreements; or
			
	(7)	  	☐	  	pursuant to another available exemption from registration provided by Rule 144 under the Securities Act of 1933.

 Unless one of the boxes is checked, the Registrar will refuse to register any of the Notes evidenced by this
certificate in the name of any Person other than the registered holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Issuer or the Registrar may require, prior to registering any such transfer of the
Notes, such legal opinions, certifications and other information as the Issuer or the Registrar have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933. 

							
	Date:	  	  
	  	Your Signature: 	  	  

  
  

Sign exactly as your name appears on the other side of this Note. 

Signature Guarantee: 
  

							
	Date:	 	  
	 	    	  	  

	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee	 		  	Signature of Signature Guarantee

 TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises
sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule
144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the
undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

									
	 Date:
	 	  
	 	         
	  	  

		 		 		  	NOTICE: To be executed by an executive officer

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

The initial principal amount of this Global Note is
$                . The following increases or decreases in this Global Note have been made: 
  

									
	 Date of Exchange
	  	 Amount of

decrease in
 Principal
Amount
 of this Global Note
	  	 Amount of

increase in
 Principal
Amount
 of this Global Note
	  	
Principal amount
of this Global Note
following Such
decrease or
increase
	  	 Signature of
authorized
signatory
of
Trustee or Notes
Custodian

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.08 (Change of Control) of the Indenture, check the
box: 
 Change of Control ☐ 

If you want to elect to have only part of this Note purchased by the Issuer pursuant to Section 4.08 (Change of Control) of the
Indenture, state the amount ($2,000 or any integral multiple of $1,000 in excess thereof) (or if a PIK Payment has been made, in the amount of $1.00 or an integral multiple of $1.00 in excess thereof): 

$ 
  

							
	Date:	 	  
	  	Your Signature:	  	  

							
		 		  		  	(Sign exactly as your name appears on the other side of this Note)
	Signature Guarantee:	 	  

		 	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee

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