The Green Loan and equity financing will advance the overall capacity of Silfab’s cell production and PV module manufacturing within its new facility in Fort Mill, South Carolina, and to reshore US-made solar products that are in high demand by the company’s customers. Silfab’s newest US facility is scheduled to be operational by the end of this year.

Silfab Solar Inc. ("Silfab"), North America's leading photo-voltaic ("PV") module manufacturer, today announced that it has closed on $100 million of new financing to scale its state-of-the-art solar cell manufacturing plant. The $50 million equity investment was led by funds advised by ARC Financial Corp. ("ARC") and includes investment from their existing co-investors. The company additionally raised a $50 million senior secured financing (the "Green Loan") led by Breakwall Capital, an energy-focused asset manager and employee-owned firm committed to supporting the growth and improvement of conventional, renewable, and next generation energy companies, and includes an investment from SR Alternative Credit LLC ("SRAC").

The Green Loan and equity financing will advance the overall capacity of Silfab's cell production and PV module manufacturing within its new facility in Fort Mill, South Carolina, and to reshore US-made solar products that are in high demand by the company's customers. Silfab's newest US facility is scheduled to be operational by the end of this year.

Sustainable Fitch provided a second-party opinion on the Green Loan and considers the transaction to be structured in line with the Loan Market Association, Loan Syndications and Trading Association and Asia Pacific Loan Market Association Green Loan Principles. Sustainable Fitch's view is that the Green Loan's alignment with these principles is "Excellent."

"American-made clean energy is and will remain in huge demand. We are thankful for the continued support of both existing and new investors in our mission to lead the reshoring of the PV supply chain - ensuring a sustainable supply of US-made PV modules," said Paolo Maccario, Silfab President and CEO. "Silfab's growing US footprint and increase in domestic content means more jobs for Americans and a lower carbon footprint compared to imported panels."

Daniel Flannery, President and Managing Partner of Breakwall Capital, said "We are thrilled to partner with Silfab as they expand their existing manufacturing capabilities, and integrate a unique operation of high quality, made-in-America solar cells and PV modules. As the largest private manufacturer of PV modules in North America with over a decade of successful operating experience, this capacity expansion is critical to meet the domestic content demand from its customer base. We could not be more excited to play a part in helping Silfab be a first mover with respect to domestic cell production while furthering the broader reshoring objectives of the entire solar manufacturing ecosystem in the United States."

Norton Rose Fulbright LLP acted as legal counsel to Silfab. Kirkland & Ellis LLP acted as legal counsel to Breakwall Capital. Stikeman Elliott LLP acted as legal counsel to ARC Financial. RCT Solutions acted as the independent engineer for Breakwall.

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About Silfab Solar
Silfab Solar is the North American leader in the design, development and manufacture of high-efficiency, premium quality PV modules. Silfab leverages more than 40 years of solar experience and best-in-class technologies to produce the highest- rated solar modules. Silfab operates state-of-the-art facilities in the state of Washington and Toronto, Canada and will soon be manufacturing solar cells and PV modules in Fort Mill, South Carolina. Each operating facility features multiple automated production lines, certified to the ISO 9001:2015 Quality Management System standard, and just-in-time manufacturing to deliver Buy American approved PV modules specifically designed for and dedicated to the North American market. www.silfabsolar.com

About ARC Financial Corp.
Founded in 1989, ARC Financial Corp. is committed to building high-performing businesses that address the world's energy and sustainability needs. To date, ARC has raised C$6.4 billion across eleven energy-focused funds since the launch of its private equity business in 1997, having invested capital in more than 180 companies across the energy landscape. ARC's newest fund, ARC Energy Fund 10, is focused on infrastructure development and energy services & manufacturing opportunities in energy transition. For more information, please visit www.arcfinancial.com

About Breakwall Capital
Breakwall Capital is a leading energy specialist focused on direct lending capital solutions to middle-market and developing energy companies. As an independent asset manager and employee-owned firm, Breakwall seeks to fill the gap that other financing providers appear reluctant to service. Breakwall is led by Christopher Abbate, Jamie Brodsky, and Daniel Flannery and since 2014, the Breakwall team has built a credit investment franchise that focuses exclusively on energy credit. During its 10-year history, the team has committed $4.8 billion in energy and energy-related companies or projects across more than 60 transactions. Breakwall is headquartered in New York with offices in Texas and Rhode Island. For more information, please visit Breakwall's website at www.breakwallcap.com.

About SRAC
SR Alternative Credit LLC is a boutique SEC registered investment management firm based in Darien, CT. SR Alternative Credit manages multiple funds invested in senior-secured lower-middle market asset-backed loans. For more information, please visit www.sraltcredit.com.