SPRUCE POWER HOLDING CORP — Director's Dealing 2025

Nov 19, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPRUCE POWER HOLDING CORP (SPRU)
CIK: 0001772720
Period of Report: 2025-11-17

Reporting Person: STEEL PARTNERS HOLDINGS L.P. (10% Owner)
Reporting Person: Steel Partners Holdings GP Inc. (10% Owner)
Reporting Person: SPH Group LLC (10% Owner)
Reporting Person: SPH Group Holdings LLC (10% Owner)
Reporting Person: Steel Excel Inc. (10% Owner)
Reporting Person: Steel Connect LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-17	Common Stock, par value $0.0001 per share	P	5000	$5.0000	Acquired	2592503	Indirect
2025-11-19	Common Stock, par value $0.0001 per share	P	64658	$4.5657	Acquired	2657161	Indirect

Footnotes

F1: This Form 4 is filed jointly by Steel Partners Holdings L.P ("Steel Holdings"), Steel Partners Holdings GP Inc. ("Steel Holdings GP"), SPH Group LLC ("SPHG"), SPH Group Holdings LLC ("SPHG Holdings"), Steel Excel Inc. ("Steel Excel") and Steel Connect LLC ("Steel Connect") (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of common stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of his or its pecuniary interest therein.

F2: Represents securities owned directly by Steel Connect Sub LLC ("Steel Connect Sub"). Steel Holdings owns a majority of the membership interests of SPHG. SPHG is the sole member of SPHG Holdings. Steel Holdings GP is the general partner of Steel Holdings, the managing member of SPHG and the manager of SPHG Holdings. Steel Excel is a majority owned subsidiary of SPHG Holdings. Steel Connect is an indirect subsidiary of Steel Excel. Steel Connect Sub is a wholly owned subsidiary of Steel Connect. Each of Steel Holdings, SPHG, SPHG Holdings, Steel Holdings GP, Steel Excel and Steel Connect may be deemed to beneficially own the Shares owned directly by Steel Connect Sub.