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Hannon Armstrong Appoints Clarence D. Armbrister and Nancy C. Floyd to Board of Directors


Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong") (NYSE:HASI), a leading investor in climate solutions, today announced the appointment of Clarence D. "Clay" Armbrister and Nancy C. Floyd to its Board of Directors, effective March 1, 2021.

With the addition of Mr. Armbrister and Ms. Floyd as independent members, the Board of Directors will consist of nine members, eight of whom are independent members.

"We are delighted to welcome Clay and Nancy to the Board of Directors, both of whom bring tremendous experience and a wealth of knowledge to our company," said Jeffrey W. Eckel, Hannon Armstrong chairman and chief executive officer. "Clay Armbrister provides connectivity into the higher education ecosystem, important for transactions like last year's public-private partnership with the University of Iowa. His extensive background in the fields of education, finance, government, and law will provide essential support for the company as we execute our growth plan."

"Nancy Floyd is a true clean energy pioneer, launching one of the first clean tech venture capital platforms more than three decades ago. Having served on many high-growth companies' boards, Nancy brings invaluable experience as we accelerate our growth and navigate the upsurge in innovative climate technologies in the marketplace today. I am excited to work with both Clay and Nancy in the years to come," added Eckel.

Clay Armbrister is the president of Johnson C. Smith University, a private, Historically Black University in Charlotte, North Carolina. Mr. Armbrister joined Johnson C. Smith University in 2018 and is responsible for providing direct oversight and guidance to all operations of this distinctive educational institution founded in 1867.

Mr. Armbrister has over 35 years of experience in the private and public sectors, including extensive background at all levels of education, having served as president and chief executive officer at Girard College, chief of staff to the president at Johns Hopkins University, chief operating officer at Temple University, and managing director of the Philadelphia School District.

In addition to his educational sector experience, Mr. Armbrister has held executive positions in law, government, and finance. In 1994, he was appointed Philadelphia City Treasurer by then-Mayor Ed Rendell, subsequently elected Governor of Pennsylvania. As treasurer, Mr. Armbrister helped convince the rating agencies to restore the City of Philadelphia's debt ratings to investment grade. He also served as former Philadelphia Mayor Michael Nutter's first chief of staff from 2008 to 2011.

From 1999 to 2003, Mr. Armbrister held various positions in the Municipal Securities Group at PaineWebber (subsequently UBS), leading nationwide efforts in underwriting transactions for issuers in the K-12 public education market. He began his professional career as a lawyer in the Public Finance Department of Saul, Ewing Remick & Saul in 1982, leaving as a partner in 1994 to serve as Philadelphia City Treasurer.

Mr. Armbrister currently serves on the Board of Directors for Health Partners Plan as chair of the Audit Committee and member of the Compensation Committee; the Board of Trustees for Devereux Advanced Behavioral Health as vice-chair of the Board, chair of the Finance Committee and member of the Executive Committee; and the Board of Charlotte Regional Business Alliance. He is a former member of the Board of Directors of the National Adoption Center and the Community College of Philadelphia's Board of Trustees. Mr. Armbrister received a Bachelor of Arts degree in political science and economics from the University of Pennsylvania in 1979 and a Juris Doctor degree from the University of Michigan Law School in 1982.

Nancy Floyd is the founder and managing director of San Francisco-based Nth Power, a pioneering energy venture capital firm founded in 1993, focused on the market leaders in renewable energy, energy efficiency, smart grid, clean transportation, and green buildings. A highly respected entrepreneur, Nancy has founded and helped launch 17 companies, worked with global Fortune 500 companies on energy innovation, and served as a judge for idea competitions, including the MIT Energy Prize, MIT-Lemelson Award, and many clean tech and National Renewable Energy Lab events.

Ms. Floyd currently serves on the Board of Directors of Tempronics, and formerly on the Board of Directors of Glasspoint Solar and WGL Holdings and Washington Gas (NYSE:WGL). She also serves on the Investment Committee of The Christensen Fund and the President's Council of the non-profit sustainability organization, Ceres.

An early energy pioneer, she founded one of the country's first wind development firms in 1982, utilizing advanced technology developed by NASA and Sandia Labs. She developed over $30 million in projects and sold NFC Energy Corporation, generating a 25-fold return on the original capital invested in three years. In 1985, she helped found and launch PacTel Spectrum Services, a network management company for private voice and data networks and a subsidiary of Pacific Telesis. From 1989 to 1993, Ms. Floyd joined and started the technology practice for the utility consulting firm Barakat and Chamberlain. She also founded one of the first non-profit organizations in the U.S. to fund home energy audits. Ms. Floyd received a Bachelor of Arts degree in political science from Franklin & Marshall College in 1976 and a Master of Arts in political science from Rutgers University in 1977.

About Hannon Armstrong

Hannon Armstrong (NYSE:HASI) is the first U.S. public company solely dedicated to investments in climate solutions, providing capital to leading companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. With more than $6 billion in managed assets as of September 30, 2020, Hannon Armstrong's core purpose is to make climate-positive investments with superior risk-adjusted returns. For more information, please visit Follow Hannon Armstrong on LinkedIn and Twitter @HannonArmstrong.

Forward Looking Statements

Some of the information in this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, words such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may," "target," or similar expressions, are intended to identify such forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption "Risk Factors" included in our Annual Report on Form 10-K for our fiscal year ended December 31, 2019, which was filed with the U.S. Securities and Exchange Commission ("SEC"), as well as in other reports that we file with the SEC.

Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. The Company disclaims any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.

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