Silver Spring Networks Disclosure Pursuant to NYSE Rule 303A.08

SAN JOSE, Calif.–(BUSINESS WIRE)–Silver Spring Networks, Inc. (NYSE: SSNI) today disclosed that, in
connection with the appointment of Aysegul Ildeniz as its new Chief
Operating Officer, Silver Spring expects that the Compensation Committee
of the Board of Directors will grant Ildeniz inducement awards
consisting of a stock option to purchase 120,000 shares of Silver
Spring’s common stock with an exercise price equal to the closing price
of Silver Spring’s common stock on the New York Stock Exchange on the
date of grant, and 80,000 restricted stock units. Ildeniz’s stock option
will vest over four years with one quarter of the shares vesting on the
first anniversary of the grant date and the remainder vesting monthly
thereafter. Ildeniz’s restricted stock units will vest over four years
with one quarter of the restricted stock units vesting on the first
anniversary of the grant date and the remainder vesting quarterly
thereafter. Vesting of Ildeniz’s equity awards will be subject to
Ildeniz’s continued service with Silver Spring. The Board of Directors,
including a majority of the independent directors, has authorized the
Compensation Committee to grant these equity awards as an inducement
material to Ildeniz’s employment in accordance with NYSE Rule 303A.08.

About Silver Spring Networks

Silver Spring Networks is a leading networking platform and solutions
provider for smart energy networks. Silver Spring’s pioneering IPv6
networking platform, with over 23.6 million Silver Spring enabled
devices delivered, is connecting utilities to homes and businesses
throughout the world with the goal of achieving greater energy
efficiency for the planet. Silver Spring’s innovative solutions enable
utilities to gain operational efficiencies, improve grid reliability,
and empower consumers to monitor and manage energy consumption. Silver
Spring Networks’ customers include major utilities around the globe such
as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison,
Consolidated Edison, CPS Energy, Florida Power & Light, Jemena
Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings,
Progress Energy, and Singapore Power, among others. To learn more,
please visit www.silverspringnet.com.

Forward-Looking Statements

This press release contains forward-looking statements about Silver
Spring Networks’ expectations, plans, intentions, and strategies,
including, but not limited to statements regarding equity awards Silver
Spring expects to grant to Ms. Aysegul Ildeniz. Statements including
words such as “anticipate”, “believe”, “estimate”, “expect” or “future”
and statements in the future tense are forward-looking statements. These
forward-looking statements involve risks and uncertainties, as well as
assumptions, which, if they do not fully materialize or prove incorrect,
could cause our results to differ materially from those expressed or
implied by such forward-looking statements. The risks and uncertainties
include those described in Silver Spring Networks’ documents filed with
or furnished to the Securities and Exchange Commission. All
forward-looking statements in this press release are based on
information available to Silver Spring Networks as of the date hereof.
Silver Spring Networks assumes no obligation to update these
forward-looking statements.

Contacts

Silver Spring Networks
Mark McKechnie, 669-770-4664
Investor
Relations
mmckechnie@ssni.com
Amy
Cook, 669-770-4183
Global Communications
acook@ssni.com