BETHESDA, Md., June 30, 2017 (GLOBE NEWSWIRE) -- TerraForm Power, Inc. (Nasdaq:TERP) (“TerraForm Power” or the “Company”), an
owner and operator of clean energy power plants, announced today that the Nasdaq Hearings Panel granted the Company further
extensions to regain compliance with Nasdaq’s continued listing requirements. Under these extensions, the Company’s Class A common
stock will remain listed on the Nasdaq Stock Market, subject to the requirement that the Company’s Form 10-K for the year ended
December 31, 2016 be filed with the SEC by July 24, 2017, its annual meeting of stockholders be held by August 24, 2017, its Form
10-Q for the first quarter of 2017 be filed with the SEC by August 30, 2017 and its Form 10-Q for the second quarter of 2017 be
filed with the SEC by September 30, 2017.
In addition, the Company is required to provide the Nasdaq Hearings Panel, by July 10, 2017, certain additional information
regarding the status of the audit of the Company’s financial statements for the fiscal year ended December 31, 2016. The Nasdaq
Hearings Panel may reconsider the terms of the above extensions following its review of this additional information or based on any
other relevant event, condition or circumstance.
About TerraForm Power
TerraForm Power is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Power
creates value for its investors by owning and operating clean energy power plants. For more information about TerraForm Power,
please visit: www.terraformpower.com.
Cautionary Note Regarding Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the fact that they do not
relate strictly to historical or current facts. These statements involve estimates, expectations, projections, goals, assumptions,
known and unknown risks, and uncertainties and typically include words or variations of words such as “expect,” “anticipate,”
“believe,” “intend,” “plan,” “seek,” “estimate,” “predict,” “project,” “goal,” “guidance,” “outlook,” “objective,” “forecast,”
“target,” “potential,” “continue,” “would,” “will,” “should,” “could,” or “may” or other comparable terms and phrases.
Such statements include, without limitation, statements regarding the additional time that has been granted for the Company to
regain compliance with the Nasdaq rules; the Company’s ability and time required to regain compliance with the Nasdaq rules; and
the progress, outcome and timing of completing the delayed filings and holding the annual meeting. These forward-looking statements
are based on current expectations as of the date of this press release and are subject to known and unknown risks and uncertainties
that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited
to: the Nasdaq Hearing Panel’s review of the additional information regarding the status of the audit of the Company’s financial
statements for the fiscal year ended December 31, 2016, the extent and impact of delays in the Company’s completion of its
financial statements and the filing of its annual and quarterly reports; whether the Nasdaq Hearings Panel will reconsider the
terms of the extension granted; whether the Nasdaq Listing and Hearing Review Council will determine to review the Panel’s
decision; the Company’s ability to regain compliance with Nasdaq's continued listing requirements; as well as additional factors we
have described in other filings with the Securities and Exchange Commission.
The risks included above are not exhaustive. Other factors that could adversely affect our business and prospects are described
in the filings made by us with the Securities and Exchange Commission.
The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information,
future events or otherwise, except as otherwise required by law.
Contacts: Investors: Brett Prior TerraForm Power investors@terraform.com Media: Meaghan Repko / Joseph Sala Joele Frank, Wilkinson Brimmer Katcher media@terraform.com (212) 355-4449
