Exhibit 99.1
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KPMG LLP Suite 700 20 Pacifica Irvine, CA 92618-3391 |
Independent Accountants’ Agreed-Upon Procedures Report
Sunrun Inc. (the “Company”)
BofA Securities, Inc. (the “Structuring Agent”)
(together, the “Specified Parties”)
Re: Sunrun Pangea Issuer 2025-2, LLC – Data File Procedures
We have performed the procedures described below on the specified attributes in an electronic data file entitled “Sunrun Pangea 2025-2 Data Tape_Ext.6.16.2025.xlsx” provided by the Structuring Agent on June 16, 2025, on behalf of the Company, containing information on 63,318 solar assets (the “Solar Assets”) as of April 1, 2025 (the “Data File”), which we were informed are intended to be included as collateral in the offering by Sunrun Pangea Issuer 2025-2, LLC. The Company is responsible for the specified attributes identified by the Company in the Data File.
The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet their intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.
The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.
Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:
| • | The term “compared” means compared to the information shown and found it to be in agreement, unless otherwise stated. Such compared information was deemed to be in agreement if differences were within the reporting threshold. |
| • | The term “recomputed” means recalculated and compared the result to the information shown and found it to be in agreement, unless otherwise stated. Such recomputed information was deemed to be in agreement if differences were within the reporting threshold. |
| • | The term “reporting threshold” means that dollar amounts and percentages were within $1.00 and 0.1%, respectively, unless otherwise stated. |
| • | The term “Solar Asset Contracts” means some or all of the following documents provided by the Company for each Selected Asset (defined below): the residential solar power purchase agreement, residential power purchase agreement, power purchase agreement, solar as built proposal, residential solar system lease agreement, amendment to the residential solar power purchase agreement, net energy metering agreement, PV designer report, PV plan set report, PV system site plan, PV system roof plan, utility bill, customer invoice, change order documentation, and/or lease disclosure thereto. The Solar Asset Contracts were represented by the Company to be a copy of the original Solar Asset Contracts and/or electronic records contained within the Company’s servicing system. We make no representation regarding the validity or accuracy of the Solar Asset Contracts or the execution of the Solar Asset Contracts by the signors. |
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