Clearway Energy, Inc. Seeks Shareholder Approval at Annual Meeting to Simplify Public Share Class Structure

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• The simplification has been structured so that collective voting rights of public investors would be the same after conversion as today

  60% confidence

• Clearway is embarking on this proposal to create value for all stockholders

  60% confidence

• The consolidation is responsive to suggestions from current and potential stockholders

  60% confidence

• The consolidation is expected to benefit stockholders by eliminating dual-class complexity, addressing valuation discount, providing more liquid stock, and enhancing appeal to broader investor base

  60% confidence

• The Class A Conversion is intended to qualify as a tax-free exchange for U.S. Federal income tax purposes

  60% confidence

• The Company has not sought and does not intend to seek any rulings from the IRS regarding tax consequences, and there can be no assurance the IRS will not take a contrary position

  60% confidence

• The simplified share structure would benefit Class C holders by providing a more liquid investment with increased public float, enhancing attractiveness to broader investor base and supporting capital allocation strategy

  60% confidence

• Holders of Class A common stock have historically experienced a valuation discount and lower trading liquidity compared to the Class C common stock

  60% confidence

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