Stem Board Of Directors Begins Formal Review Of Strategic Alternatives To Maximize Shareholder Value; Retains Financial And Legal Advisors

The Company has engaged Guggenheim Securities, LLC as financial advisor and Gibson Dunn & Crutcher LLP, and Davis Polk & Wardwell LLP, as legal advisors to assist with the review.

The Board, with the assistance of management and its advisors, will consider a full range of strategic, financial, and operational alternatives, including, but not limited to, continuing to execute on the Company’s standalone strategic plan, sale of certain assets, sale of the Company, merger, refinancing, recapitalization or other transactions aimed at maximizing value.

"Our priorities are unchanged," said Arun Narayanan, Chief Executive Officer of Stem. "Our team remains focused on serving our customers, supporting the more than 38 gigawatts of solar and 1.8 gigawatt hours of storage that rely on PowerTrack, and executing our plan. Customers, partners and employees can expect the same level of service, support and innovation from Stem throughout this process."

The Board has not set a timetable for completion of the review, and there can be no assurance that the review will result in any transaction or other strategic outcome. The Company does not intend to disclose further developments with respect to the review unless and until the Board approves a specific transaction or otherwise determines that further disclosure is required or appropriate.  

As previously announced, Stem will report its third quarter 2026 results after market close on Thursday, November 5, 2026, and will host a conference call at 5:00 p.m. Eastern Time.