EXHIBIT 99.3

UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION

On December 6, 2022, NRG Energy, Inc. (“NRG” or the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Jetson Merger Sub, Inc. (“Merger Sub”), a wholly owned subsidiary of the Company, and Vivint Smart Home, Inc. (“Vivint”), pursuant to which Merger Sub will be merged with and into Vivint (the “Merger”), with Vivint surviving the Merger as a wholly owned subsidiary of the Company (the “Acquisition”).

The following unaudited pro forma combined financial information of NRG and Vivint is presented to illustrate the estimated effects of the Acquisition and certain other related transactions and adjustments described below (collectively, the “Transaction Accounting Adjustments”).

The unaudited pro forma combined balance sheet as of December 31, 2022 combines the historical consolidated balance sheet of NRG and the historical consolidated balance sheet of Vivint, after giving effect to the Transaction Accounting Adjustments, as if they had occurred on December 31, 2022. The unaudited pro forma combined statement of operations for the year ended December 31, 2022 combines the historical consolidated statement of operations of NRG and the historical consolidated statement of operations of Vivint, after giving effect to the Transaction Accounting Adjustments, as if they had occurred on January 1, 2022. We refer to these unaudited pro forma combined balance sheet and unaudited pro forma combined statement of operations as the “pro forma financial information”.

The pro forma financial information should be read in conjunction with the accompanying explanatory notes. In addition, the pro forma financial information is derived from and should be read in conjunction with the following historical financial statements and the related notes of NRG and Vivint:

The pro forma financial information has been prepared by NRG for illustrative and informational purposes only, in accordance to Regulation S-X Article 11, Pro Forma Financial Information, as amended by the final rule, Amendments to Financial Disclosures about Acquired and Disposed Businesses, as adopted by the U.S. Securities and Exchange Commission on May 20, 2020 (“Article 11”). The pro forma financial information is based on the Transaction Accounting Adjustments and assumptions and is not necessarily indicative of what NRG’s consolidated statement of operations or consolidated balance sheet actually would have been had the Transaction Accounting Adjustments been completed as of the dates indicated, or what they will be for any future periods. The pro forma financial information does not purport to project the future financial position or operating results of NRG following the completion of the Acquisition. The pro forma financial information does not reflect any revenue enhancements, cost savings, operating synergies or restructuring costs that may be achievable or incurred in connection with the Acquisition.

The pro forma financial information has been prepared using the acquisition method of accounting under U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) with NRG being the accounting acquirer in the Acquisition. The purchase price will be allocated to the assets acquired and liabilities assumed based upon their estimated fair values as of the acquisition date, and any excess value of the consideration transferred over the net assets will be recognized as goodwill. The Company has made a preliminary allocation of the purchase price to the assets acquired and liabilities assumed as of the assumed acquisition date based on NRG’s preliminary valuation of the tangible and intangible assets acquired and liabilities assumed using information currently available. Differences between these preliminary estimates, which were made solely for the purpose of this pro forma financial information, and the final acquisition accounting will occur and these differences could have a material impact on the accompanying pro forma financial information.

NRG will acquire Vivint for $12 per share, or approximately $2.6 billion in cash, subject to customary closing conditions. In connection with the Merger Agreement, NRG entered into a commitment letter for a senior secured 364-day bridge term loan facility (the “Bridge Facility”) in a principal amount not to exceed $2.1 billion for the purposes of financing the Acquisition, paying fees and expenses in connection with the Acquisition, and certain other third-party payments in respect of arrangements of Vivint. The pro forma financial information assumes that NRG will be able to secure permanent financing and will not use the Bridge Facility. The pro forma financial information gives effect to the following assumed sources of funds to satisfy the estimated purchase price of $2.6 billion:

Additionally, the pro forma financial information gives effect to the $600 million increase to the Company’s Revolving Credit Facility, as amended on February 14, 2023.

The assumed sources of funds and interest rates are based on currently available information and assumptions. There is no guarantee that the actual sources of funds and interest rates used to complete the Acquisition will be the same as the assumed sources and interest rates presented in the pro forma financial information. Depending on actual sources of funds used to complete the Acquisition, the financial position and the operating results of NRG following the Acquisition may be materially different from the pro forma financial information.

NRG ENERGY, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA COMBINED BALANCE SHEET

AS OF DECEMBER 31, 2022

NRG ENERGY, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA COMBINED STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

NOTES TO UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION

Note 1. Basis of Pro Forma Presentation

The pro forma financial information has been prepared using the acquisition method of accounting under U.S. GAAP, in accordance with Accounting Standards Codifications 805, “Business Combination” (“ASC 805”), and is derived from the audited historical financial statements of NRG and Vivint.

The unaudited pro forma combined balance sheet as of December 31, 2022 combines the historical consolidated balance sheet of NRG and the historical consolidated balance sheet of Vivint, after giving effect to the Transaction Accounting Adjustments, as if they had occurred on December 31, 2022. The unaudited pro forma combined statement of operations for the year ended December 31, 2022 combines the historical consolidated statement of operations of NRG and the historical consolidated statement of operations of Vivint, after giving effect to the Transaction Accounting Adjustments, as if they had occurred on January 1, 2022.

The pro forma financial information has been prepared by NRG for illustrative and informational purposes only, in accordance with Article 11. The pro forma financial information is based on the Transaction Accounting Adjustments and assumptions and is not necessarily indicative of what NRG’s consolidated statements of operations or consolidated balance sheet actually would have been had the Transaction Accounting Adjustments been completed as of the dates indicated, or what they will be for any future periods. The pro forma financial information does not purport to project the future financial position or operating results of NRG following the completion of the Acquisition. The pro forma financial information does not reflect any revenue enhancements, cost savings, operating synergies or restructuring costs that may be achievable or incurred in connection with the Acquisition.

The acquisition method of accounting requires an acquirer to recognize and measure in its financial statements the identifiable assets acquired and the liabilities assumed at fair value at the acquisition date. The determination of fair value used in the Transaction Accounting Adjustments is preliminary and based on management’s best estimates considering currently available information and certain assumptions that management believes are reasonable under the circumstances. The purchase price allocation presented is dependent upon certain valuations and other analyses that have not yet been finalized. The actual amounts eventually recorded for purchase accounting, including the identifiable intangibles and goodwill may differ materially from the information presented and could be materially impacted by changing fair value measurements caused by the volatility in the current market environment.

Under ASC 805, acquisition-related transactions costs are not included as a component of the consideration transferred and are expensed in the period in which the costs are incurred. Total costs related to the Acquisition are estimated to be approximately $55 million. Acquisitions costs include due diligence, valuation, legal and filing fees, professional and other consulting fees.

During the preparation of the unaudited pro forma combined financial statements, management performed a preliminary analysis of the Vivint financial information to identify differences in accounting policies as compared to those of NRG. At this time NRG is not aware of any material differences in the accounting policies followed by NRG and those used by Vivint in preparing its consolidated financial statements that would have a material impact on the pro forma financial information.

Note 2. Preliminary Estimated Purchase Price and Assumed Financing

NRG agreed to pay $12 per share in cash, or approximately $2.6 billion, subject to customary closing conditions. The pro forma financial information gives effect to the following assumed sources of funds to satisfy the estimated purchase price of $2.6 billion:

Additionally, the pro forma financial information gives effect to the $600 million increase to the Company’s Revolving Credit Facility, as amended on February 14, 2023.

The assumed sources of funds and interest rates are based on currently available information and assumptions. There is no guarantee that the actual sources of funds and interest rates used to complete the Acquisition will be the same as the assumed sources and interest rates presented in the pro forma financial information. Depending on actual sources of funds used to complete the Acquisition, the financial position and the operating results of NRG following the Acquisition may be materially different from the pro forma information.

Note 3. Reclassification Adjustments

During the preparation of the unaudited pro forma combined financial statements, management performed a preliminary analysis of the Vivint financial information to identify differences in Vivint’s financial statement presentation as compared to the presentation of NRG. The below reclassification adjustments represent NRG’s best estimates based upon the information currently available to NRG. The reclassification adjustments are subject to change once more detailed information is available and additional analysis is performed.

Balance Sheet Reclassifications

Vivint

Consolidated Balance Sheet

As of December 31, 2022

Vivint

Consolidated Balance Sheet

As of December 31, 2022 (Continued)

(a) Reclassification from Capitalized contract costs, net and Deferred financing costs, net to Other non-current assets

(b) Reclassification from Accrued payroll and commissions to Accrued expenses and other current liabilities

(c) Reclassification from Deferred revenue to Accrued expenses and other current liabilities

(d) Reclassification from Current portion of finance lease liabilities to Current portion of long-term debt and finance leases

(e) Reclassification from Notes payable, net - related party to Long-term debt and finance leases

(f) Reclassification from Finance lease liabilities, net of current portion to Long-term debt and finance leases

(g) Reclassification from Deferred revenue, net of current portion to Other non-current liabilities

(h) Reclassification from Warrant derivative liabilities to Other non-current liabilities

Statement of Operations Reclassifications

Vivint

Consolidated Statement of Operations

For the Year Ended December 31, 2022

(a) Reclassification from Selling expenses to Selling, general and administrative costs

(b) Reclassification from General and administrative expenses to Provision for credit losses

(c) Reclassification from Change in fair value of warrant liabilities to Other income, net

(d) Reclassification from Interest income to Other income, net

Note 4. Preliminary Calculation of Estimated Consideration and Preliminary Purchase Price Allocation

Estimated Consideration

Under the acquisition method of accounting, the identifiable assets acquired and liabilities assumed of Vivint, the acquiree, are recorded at fair value on the Acquisition date and added to those of NRG, the acquirer. The Acquisition Accounting Adjustments included herein are preliminary and based on estimates of the fair value and

useful lives of the assets acquired and liabilities assumed and have been prepared to illustrate the estimated effect of the Acquisition.

The table below represents an initial allocation of the preliminary estimated consideration to Vivint’s tangible and intangible assets to be acquired and liabilities to be assumed based on preliminary estimated fair values as of December 31, 2022.

The preliminary fair value of the identifiable intangible assets of $2,245 million, which includes customer relationships, technology related assets, trade names and contracts, will be amortized over the estimated useful life. The estimated weighted average useful life is approximately 10 years. The preliminary useful lives of the intangible assets were determined based on the expected pattern of the economic benefit. The expected amortization for the five years following the Acquisition is currently estimated to be $259 million per year.

The final purchase price allocation depends on certain valuations and other studies that have not yet been completed. The final determination of the purchase price allocation, upon the consummation of the Acquisition, will be based on the net assets acquired as of that date and will depend on a number of factors, which cannot be predicted with any certainty at this time. The purchase price allocation may change materially based on receipt of more detailed information. Accordingly, the pro forma purchase price allocation is preliminary and is subject to further adjustments as additional information becomes available and as additional analyses and final valuations are completed. There can be no assurance that these additional analyses and final valuations will not result in significant changes to the estimates of fair value set forth above.

Note 5. Adjustments to Unaudited Pro Forma Combined Balance Sheet

The Transaction Accounting Adjustments reflected in the unaudited pro forma combined balance sheet are detailed below:

(a) Reflects the estimated proceeds from the assumed financing transactions and cash outflow to complete the Acquisition as detailed below:

(b) Reflects the removal of historical goodwill of Vivint of $817 million and recognition of preliminary estimated goodwill of $3,519 million representing the excess of estimated purchase price over the estimated fair value of Vivint’s assets and liabilities, including the estimated fair value of identifiable intangible assets and related deferred income taxes.

(c) Reflects the removal of historical intangible assets of Vivint of $2 million and recognition of preliminary estimated identifiable intangible assets of $2,245 million.

(d) Reflects $749 million of long-term deferred tax assets recorded as a result of the Acquisition. The deferred tax assets are attributable primarily to net operating losses and interest deduction carryforwards. Vivint previously carried a full valuation allowance against these assets which is not carried forward to the combined proforma balance sheet based on NRG’s expected realization of these tax attributes.

(e) Reflects the removal of $1,486 million of historical Vivint Capitalized contract costs. Fair value attributed to the acquired Capitalized contract costs is included in the fair value of the customer-related intangible assets (refer to 5(c) above). Also reflects the removal of $2 million unamortized deferred financing costs on Vivint revolving credit facility.

(f) (1) The table below reflects the Transaction Accounting Adjustments to Current portion of long-term debt and finance leases and Long-term debt and finance leases.

(2) Reflects $1 million of deferred financing costs to increase the Revolving Credit Facility, and the write-off of $11 million of short-term deferred financing costs related to the Bridge Facility as the Company expects to secure permanent financing and will not use the Bridge Facility.

(g) Reflects the accrual of $38 million of expected acquisition costs that are not yet recorded in NRG balance sheet as of December 31, 2022.

(h) Reflects removal of $3 million of warrant liabilities from the Vivint historical balance sheet as the warrants will be cashed out prior to the close of the Acquisition.

(i) Reflects the issuance of $650 million, $0.01 par value preferred shares, recorded in Preferred stock, and $14 million of deferred financing costs recorded in additional paid-in-capital.

(j) Adjustments to additional paid-in-capital include:

(k) Adjustments to Retained earnings/(accumulated deficit) include:

Note 6. Adjustments to Unaudited Pro Forma Statement of Operations

The Transaction Accounting Adjustments reflected in the unaudited pro forma combined statements of operations for the year ended December 31, 2022 are detailed below:

(a) Adjustments to depreciation and amortization expense include:

(b) Reflects $38 million of expected acquisitions costs recorded in the unaudited pro forma combined statement of operations for the year ended December 31, 2022, in addition to the $17 million that are already included in NRG’s historical consolidated statement of operations.

(c) Reflects the reversal of historical Vivint other income recorded for the change in fair value of warrant derivative liabilities, as the warrants are assumed to be cashed out upon the close of the Acquisition.

(d) Adjustments to record additional stock-based compensation expense include:

(e) Adjustments to Interest expense include:

(f) Adjustments to Income tax expense include:

(g) Reflect an adjustment of $65 million for dividends on the $650 million preferred shares at 10%.

(h) Reflects the impact of the Acquisition on the calculation of the pro forma combined basic and diluted income per share. As the acquisition is being reflected as if it had occurred on January 1, 2022, the calculation of weighted average shares outstanding for basic and diluted pro forma combined income per share assumes the shares issued in connection with the Acquisition have been outstanding for the entire period presented.

(1) Expected common stock assumed to be issued as a result of the acceleration of certain Vivint equity awards.

(2) Dilutive impact of assumed Vivint equity awards pertaining to the outstanding awards at December 31, 2022.