Dividend Finance Closes $105 Million Solar Loan Securitization

Transaction Features First “AA” Rated Solar Loan Asset Backed Security

SAN FRANCISCO–(BUSINESS WIRE)–Dividend Finance, LLC (“Dividend” or the “Company”), a leading specialty
finance and consumer lender for residential solar energy systems, home
energy-related improvements and Property Assessed Clean Energy (“PACE”)
programs, has closed its second residential solar loan securitization.

“Our second securitization affirms Dividend’s commitment to the
residential energy finance sector,” said Eric White, Dividend’s CEO.
“The success of the transaction, including its ‘Green Bond’ designation
and the first ‘AA’ rated solar loan bond, further demonstrates the
maturation of the residential solar loan asset class to the benefit of
all stakeholders.”

The $104,664,000 Dividend Solar Loan Backed Notes, Series 2018-1 (the
“Notes”), include the industry’s first “AA” rated solar loan-backed
security. Kroll Bond Rating Agency, Inc. (“KBRA”) rated the Notes, which
also received “Green Bond” designations from Sustainalytics pursuant to
the standards of the International Capital Market Association.

“Sustainalytics recognizes the importance diversification plays in
developing the green bond market,” said Sustainalytics’ Executive
Director of Sustainable Finance Solutions, Heather Lang. “We applaud
Dividend Finance for offering investors a credible way to increase the
impact of their investments through solar loan-backed securities.”

Credit Suisse Securities (USA) LLC acted as sole structuring agent and
sole bookrunner while Citigroup Global Markets, Inc. acted as
co-manager. The Series 2018-1 securitization included $25,340,000 2.61%
Class A Notes, $66,400,000 4.29% Class B Notes, $6,600,000 5.14% Class C
Notes and $6,324,000 6.39% Notes, rated AA(sf), A(sf), BBB(sf) and
BB(sf), respectively, by KBRA.

This is Dividend’s second securitization of its EmpowerLoan™ portfolio
secured by residential solar energy systems. The Company previously
issued $128,950,000 of solar loan backed notes in October 2017.

About Dividend Finance

Dividend is a leading national provider of renewable energy and
energy-efficiency financing solutions for property owners through a
suite of residential solar, home improvement and PACE financing
products. The Company pioneered the residential solar financing
landscape in 2014 with the launch of its EmpowerLoan™ product for
financing residential solar installations and continues to expand its
product offerings into the home-energy market. In addition to its
industry-leading suite of financial products, Dividend has developed a
comprehensive technology platform for installation partners and
homeowners to streamline the financing process and manage financed
project fulfillment. Learn more by visiting www.dividendfinance.com.

Contacts

Dividend Finance
Ryan Ahearn, 858-771-0896
[email protected]