SPAN ACQU : 4Q & Full Year 2021 Earnings Presentation

Legal Disclaimers

Forward-Looking Statements

The information included herein and in any oral statements made in connection herewith (collectively, this "Presentation") may include "forward-looking statements" related to Sunlight Financial Holdings Inc. and/or its direct or indirect subsidiaries (collectively, "Sunlight" or the "Company") within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended. Forward-looking statements may generally be identified by the use of words such as "could," "should," "would," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "plan," "continue," or the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Sunlight disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Sunlight cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Sunlight. Such risks and uncertainties include, among others: risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight's business and the timing of expected business milestones or results; global supply chain shortages, competition for skilled labor, and permitting delays; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight's future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight's business or future results; Sunlight's ability to sustain profitability and to attract and retain its relationships with third parties, including Sunlight's capital providers and solar contractors; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the "Risk Factors" section of Sunlight's Form 10-K as filed with the Securities and Exchange Commission ("SEC") on March 29, 2022, and other documents of Sunlight filed, or to be filed, with the SEC. Should one or more of the risks or uncertainties described herein occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Sunlight's SEC filings are available publicly on the SEC's website atwww.sec.gov.

Non-GAAP Financial Measures

In addition to financial information presented in accordance with United States generally accepted accounting principles ("GAAP"), this Presentation and the accompanying oral presentation include certain non-GAAP financial measures, such as Total Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and operating expenses which Sunlight's management believes provide useful information to management, investors and others regarding certain financial and business trends relating to Sunlight's financial condition and results of operations. These non-GAAP measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP. These non-GAAP measures have limitations as analytical tools, and they should not be considered in isolation or as a substitute for analysis of GAAP financial measures. For an explanation of the differences between these non-GAAP metrics and the most directly comparable GAAP metric, why management believes presenting the non-GAAP measures is useful to management, investors and others, and how management uses the non-GAAP metric in conducting its business, please see the accompanying reconciliations of the non-GAAP financial measures to their most directly comparable GAAP-financial measures on page 28 of this Presentation.

Important Information For Investors and Shareholders

In connection with Sunlight's commitment to certain stockholders and warrant holders (the "Selling Securityholders") to file a shelf registration statement to register for resale certain Sunlight securities held by such Selling Securityholders, Sunlight filed a registration on Form S-1 with the SEC on July 30, 2021, as amended (which includes prospectuses thereto), and other relevant documents with the SEC.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. In addition, nothing contained herein should be construed as legal, financial, tax or other advice.

Sunlight stockholders and other interested persons are urged to read the prospectuses and any other relevant documents filed with the SEC, including any post-effective amendments, when they become available, because they contain important information about Sunlight and the plan of distribution for the securities registered on the Form S-1. Sunlight stockholders can obtain a free copy of the prospectuses, as well as other filings containing information about Sunlight, without charge, at the SEC's website located atwww.sec.gov.

Industry and Market Data

Information contained in this Presentation concerning Sunlight's industry and the markets in which it operates, including Sunlight's general expectations and market position, market opportunity and market size, is based on information from Sunlight management's estimates and research, as well as from industry and general publications and research, surveys and studies conducted by third parties.

In some cases, this Presentation may not expressly refer to the sources from which this information is derived. Sunlight management estimates are derived from industry and general publications and research, surveys and studies conducted by third parties and Sunlight management's knowledge of its industry and assumptions based on such information and knowledge, which it believes to be reasonable. In addition, assumptions and estimates of Sunlight's and its industry's future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause Sunlight's future performance and actual market growth, opportunity and size and the like to differ materially from its assumptions and estimates.

The data and information provided by Wood Mackenzie should not be interpreted as advice and you should not rely on it for any purpose. You may not copy or use this data and information except as expressly permitted by Wood Mackenzie in writing. To the fullest extent permitted by law, Wood Mackenzie accepts no responsibility for your use of this data and information except as specified in a written agreement you have entered into with Wood Mackenzie for the provision of such of such data and information.

Trademarks and Trade Names

Sunlight owns or has rights to various trademarks, service marks and trade names that Sunlight uses in connection with the operation of its business. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with Sunlight, or an endorsement or sponsorship by or of Sunlight. Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that Sunlight will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names.

Table of Contents

I.

2021 Results

II.

2022 Outlook

III. Appendix

Met / Beat Top End of Full-Year Guidance Metrics

2020 Actuals

2021 Guidance

2021 Actuals

Note: All forecasts based on Sunlight internal projections. (1) Includes home improvement platform fees.

(2) For a reconciliation of these Non-GAAP measures to their most directly comparable GAAP measures, see page 22 and 23 and for descriptions of Non-GAAP measures, see page 28.

2021 was a Pivotal Year for Sunlight Financial

$40.4k

Full-Year 2021 Solar Average Loan Balance

22%

Full-Year 2021 Battery

Attachment Rate

1,509

Total Contractors at Dec. 31, 2021

4.4%

Full-Year 2021 Total Platform Fee Margin

$92m

Year-End 2021 Cash & Cash Equivalents

$44m

Full-Year 2021 Free Cash Flow1

Capital Providers

Added three new capital providers and improved pricing, leading to increased funding diversity and lower-cost capital

Contractors

Signed exclusive first look and volume commitments representing over $1.5bn of expected 2022 funded loan volume

Orange Platform

Added Spanish-language loan products and enhanced Notice-to-Proceed efficiency with Robotic Process Automation

Credit Risk Management

Introduced lower rates on prime loan products and launched non-prime solar and home improvement products

(1) For a reconciliation of Non-GAAP measures to their most directly comparable GAAP measures, see page 22 and 23, and for descriptions of Non-GAAP measures, see page 28.