Start Time: 09:00 January 1, 0000 9:24 AM ET Evergy, Inc. (NASDAQ:EVRG) Q3 2022 Earnings Conference Call November 04, 2022, 09:00 AM ET Company Participants David Campbell - President and CEO Kirkland Andrews - EVP and CFO Lori Wright - VP, IR and Treasurer Conference Call Participants Dariusz Lozny - Bank of America Operator Good day and thank you for standing by. Welcome to the Third Quarter 2022 Evergy Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' ...

Third Quarter 2022 Earnings Call November 4, 2022 %evergy Important Information Forward Looking Statements Statements made in this document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements relating to Evergy's strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and ca ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to_______ Exact name of registrant as specified in its charter, | --- | --- | --- | |---------------------------------|--------------------- ...

Evergy, Inc. (NASDAQ:EVRG) Q2 2022 Earnings Conference Call August 4, 2022 9:00 AM ET Company Participants Lori Wright - Vice President Investor Relations and Treasurer David Campbell - President and Chief Executive Officer Kirkland Andrews - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Sullivan - Wolfe Research Durgesh Chopra - Evercore ISI Paul Patterson - Glenrock Associates Nicholas Campanella - Credit Suisse Operator Good day, and thank you for standing by ...

```markdown [Part I - Financial Information](index=8&type=section&id=Part%20I%20-%20Financial%20Information) This section provides the unaudited consolidated financial statements and management's discussion and analysis for Evergy, Inc. and its subsidiaries [Item 1. Financial Statements](index=8&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Evergy, Inc., Evergy Kansas Central, Inc., and Evergy Metro, Inc. for the period ended June 30, 2022. It includes balance sheets, statements of comprehensive income, cash flows, and changes in equity for each entity, followed by combined notes detailing accounting policies, regulatory matters, and specific financial items [Evergy, Inc. Financial Statements](index=8&type=section&id=Evergy%2C%20Inc.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Evergy, Inc., including balance sheets, income statements, and cash flow statements Evergy, Inc. Key Financials (Q2 2022 vs Q2 2021) | Metric | Q2 2022 (millions) | Q2 2021 (millions) | Change | | :--- | :--- | :--- | :--- | | Operating Revenues | $1,446.5 | $1,236.2 | +17.0% | | Income from Operations | $335.5 | $295.3 | +13.6% | | Net Income Attributable to Evergy, Inc. | $194.5 | $185.3 | +5.0% | | Diluted EPS | $0.84 | $0.81 | +$0.03 | Evergy, Inc. Balance Sheet Summary | Metric | June 30, 2022 (millions) | Dec 31, 2021 (millions) | | :--- | :--- | :--- | | Total Current Assets | $1,922.1 | $1,710.3 | | Total Assets | $29,188.8 | $28,520.5 | | Total Current Liabilities | $3,859.7 | $3,102.9 | | Total Long-Term Debt, net | $9,196.7 | $9,297.9 | | Total Equity | $9,310.8 | $9,241.7 | Evergy, Inc. Cash Flow Summary (YTD) | Metric | YTD June 30, 2022 (millions) | YTD June 30, 2021 (millions) | | :--- | :--- | :--- | | Cash Flows from Operating Activities | $588.9 | $224.6 | | Cash Flows used in Investing Activities | $(1,128.9) | $(918.2) | | Cash Flows from Financing Activities | $536.2 | $607.1 | [Evergy Kansas Central, Inc. Financial Statements](index=14&type=section&id=Evergy%20Kansas%20Central%2C%20Inc.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Evergy Kansas Central, Inc., including balance sheets, income statements, and cash flow statements Evergy Kansas Central, Inc. Key Financials (Q2 2022 vs Q2 2021) | Metric | Q2 2022 (millions) | Q2 2021 (millions) | Change | | :--- | :--- | :--- | :--- | | Operating Revenues | $724.0 | $598.5 | +20.9% | | Income from Operations | $147.5 | $120.5 | +22.4% | | Net Income Attributable to Evergy Kansas Central, Inc. | $87.5 | $76.6 | +14.2% | [Evergy Metro, Inc. Financial Statements](index=19&type=section&id=Evergy%20Metro%2C%20Inc.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Evergy Metro, Inc., including balance sheets, income statements, and cash flow statements Evergy Metro, Inc. Key Financials (Q2 2022 vs Q2 2021) | Metric | Q2 2022 (millions) | Q2 2021 (millions) | Change | | :--- | :--- | :--- | :--- | | Operating Revenues | $500.1 | $438.7 | +14.0% | | Income from Operations | $136.3 | $131.1 | +4.0% | | Net Income | $88.4 | $88.1 | +0.3% | [Combined Notes to Unaudited Consolidated Financial Statements](index=24&type=section&id=Combined%20Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) This section provides detailed notes to the unaudited consolidated financial statements, covering accounting policies, regulatory matters, and specific financial items - The February 2021 winter weather event resulted in total incurred net fuel and purchased power costs of **$367.9 million** for Evergy as of June 30, 2022. These costs were primarily driven by Evergy Missouri West (**$296.6 million**) and Evergy Kansas Central (**$134.3 million**), offset by net wholesale revenues at Evergy Metro (**$63.0 million**)[99](index=99&type=chunk) - Evergy recorded a pre-tax loss of **$16.3 million** year-to-date related to an equity investment in an early-stage energy solutions company, which was sold in March 2022[87](index=87&type=chunk)[106](index=106&type=chunk) - The KCC approved annual retail revenue increases for Evergy Kansas Central (**$20.4 million**) and Evergy Metro (**$7.9 million**) to reflect updated transmission costs, effective April and May 2022, respectively[118](index=118&type=chunk)[120](index=120&type=chunk) - Evergy Missouri West filed a petition to finance approximately **$306.1 million** in extraordinary costs from the February 2021 winter weather event through the issuance of securitized bonds, with a decision from the MPSC expected by October 2022[146](index=146&type=chunk)[147](index=147&type=chunk)[148](index=148&type=chunk) - The company faces potential material costs from various environmental regulations, including the EPA's rules on Greenhouse Gases (GHG), Regional Haze, water discharges (ELG), and Coal Combustion Residuals (CCRs)[213](index=213&type=chunk)[216](index=216&type=chunk)[217](index=217&type=chunk)[221](index=221&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=53&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the financial results, highlighting an increase in Q2 2022 net income due to higher retail sales and transmission revenue, but a decrease in year-to-date income compared to 2021, which benefited from non-regulated marketing margins during the February 2021 winter storm. The discussion covers operational performance, regulatory proceedings, liquidity, and capital resources for Evergy, Inc. and its key subsidiaries, Evergy Kansas Central and Evergy Metro [Executive Summary](index=53&type=section&id=Executive%20Summary) This section provides an overview of Evergy's financial performance, including net income and diluted EPS, with a reconciliation of GAAP to adjusted earnings Evergy, Inc. Earnings Overview | Metric | Q2 2022 | Q2 2021 | YTD 2022 | YTD 2021 | | :--- | :--- | :--- | :--- | :--- | | Net Income Attributable to Evergy, Inc. (millions) | $194.5 | $185.3 | $317.0 | $376.9 | | Diluted EPS | $0.84 | $0.81 | $1.38 | $1.65 | - The year-to-date decrease in net income was primarily due to non-regulated energy marketing margins recognized in 2021 related to the February 2021 winter weather event, which were not repeated in 2022[262](index=262&type=chunk) Reconciliation of GAAP Earnings to Adjusted Earnings (non-GAAP) | (millions, except per share) | YTD June 30, 2022 | YTD June 30, 2021 | | :--- | :--- | :--- | | **Net income attributable to Evergy, Inc. (GAAP)** | **$317.0** | **$376.9** | | Non-regulated energy marketing margin (pre-tax) | - | $(95.0) | | Restricted equity investment losses (pre-tax) | $16.3 | - | | Other adjustments (net) | $(1.1) | $21.3 | | Income tax effect | $(4.2) | $17.3 | | **Adjusted earnings (non-GAAP)** | **$332.2** | **$320.5** | | **Diluted EPS (GAAP)** | **$1.38** | **$1.65** | | **Adjusted EPS (non-GAAP)** | **$1.44** | **$1.40** | [Evergy Results of Operations](index=57&type=section&id=EVERGY%20RESULTS%20OF%20OPERATIONS) This section details Evergy's operational performance, focusing on changes in utility gross margin and operating expenses - Utility gross margin for Q2 2022 increased by **$72.4 million** YoY, driven by higher retail sales (**$53.2M**) from favorable weather and demand, and increased transmission revenue (**$10.6M**)[285](index=285&type=chunk) - Year-to-date utility gross margin increased by only **$1.2 million**, as higher retail and transmission revenues were almost entirely offset by the **$95.0 million** non-regulated energy marketing margin recognized in 2021 from the winter storm[286](index=286&type=chunk) - Operating and maintenance expense for Q2 2022 increased by **$22.9 million** YoY, primarily due to higher plant maintenance (**$9.4M**), transmission and distribution costs (**$9.4M**), and credit loss expense (**$8.0M**)[287](index=287&type=chunk)[289](index=289&type=chunk) - Depreciation and amortization increased by **$16.6 million** year-to-date due to higher capital additions[291](index=291&type=chunk) [Liquidity and Capital Resources](index=62&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) This section discusses Evergy's financial liquidity, borrowing capacity, and cash flow activities, including capital expenditures - As of June 30, 2022, Evergy had **$1.0 billion** of available borrowing capacity under its **$2.5 billion** master credit facility[301](index=301&type=chunk) - In February 2022, Evergy entered into a **$500.0 million** unsecured Term Loan Facility, which was fully borrowed as of June 30, 2022[302](index=302&type=chunk) - Year-to-date cash from operating activities increased significantly to **$588.9 million** from **$224.6 million** in the prior year, primarily because 2021 was negatively impacted by **$371.6 million** in cash payments for net fuel and purchased power costs during the February 2021 winter weather event[307](index=307&type=chunk) - Cash used in investing activities increased by **$210.7 million** year-to-date, driven by a **$225.3 million** increase in capital expenditures for grid resiliency and infrastructure improvements[312](index=312&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=68&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports that its exposure to market risk has not materially changed since the end of the previous fiscal year, as detailed in the 2021 Form 10-K - Evergy's exposure to market risk has not changed materially since December 31, 2021[345](index=345&type=chunk) [Item 4. Controls and Procedures](index=68&type=section&id=Item%204.%20Controls%20and%20Procedures) Management for Evergy, Inc., Evergy Kansas Central, and Evergy Metro concluded that their respective disclosure controls and procedures were effective as of the end of the reporting period. There were no material changes in internal control over financial reporting during the quarter - The chief executive officer and chief financial officer of Evergy, Evergy Kansas Central, and Evergy Metro have concluded that their respective disclosure controls and procedures were effective at a reasonable assurance level[346](index=346&type=chunk)[348](index=348&type=chunk)[350](index=350&type=chunk) - There were no changes in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[347](index=347&type=chunk)[349](index=349&type=chunk)[353](index=353&type=chunk) [Part II - Other Information](index=69&type=section&id=Part%20II%20-%20Other%20Information) This section covers legal proceedings, risk factors, equity security sales, and other miscellaneous information [Item 1. Legal Proceedings](index=69&type=section&id=Item%201.%20Legal%20Proceedings) The company is party to various lawsuits and regulatory proceedings in the ordinary course of business, with further details on material items provided in Notes 4 and 10 of the financial statements - For information regarding material lawsuits and proceedings, the report refers to Notes 4 (Rate Matters and Regulation) and 10 (Commitments and Contingencies) to the consolidated financial statements[354](index=354&type=chunk) [Item 1A. Risk Factors](index=69&type=page&id=Item%201A.%20Risk%20Factors) There have been no material changes to the company's risk factors since the filing of the 2021 Form 10-K - There have been no material changes with regards to risk factors since the filing of the 2021 Form 10-K for each of Evergy, Evergy Kansas Central and Evergy Metro[355](index=355&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=69&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the second quarter of 2022, Evergy purchased a total of 1,335 shares of its equity securities. These purchases were not part of a publicly announced plan or program Issuer Purchases of Equity Securities (Q2 2022) | Month | Total Number of Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2022 | 51 | $69.06 | | May 2022 | 135 | $68.10 | | June 2022 | 1,149 | $70.01 | | **Total** | **1,335** | **$69.78** | [Item 3. Defaults Upon Senior Securities](index=69&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities during the period - None[357](index=357&type=chunk) [Item 4. Mine Safety Disclosures](index=70&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[359](index=359&type=chunk) [Item 5. Other Information](index=70&type=section&id=Item%205.%20Other%20Information) This section provides standard information on where investors can access the company's SEC filings and other material financial information, primarily through the SEC's website and the company's investor relations website - The company directs investors to its website (investors.evergy.com) and SEC filings for material financial information[360](index=360&type=chunk)[361](index=361&type=chunk) [Item 6. Exhibits](index=71&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including officer certifications (Rule 13a-14(a)/15d-14(a) and Section 1350) and XBRL data files - The report includes CEO and CFO certifications for Evergy, Evergy Metro, and Evergy Kansas Central, as well as XBRL data files, as exhibits[363](index=363&type=chunk) ```

First Quarter 2022 Earnings Call May 5, 2022 Important Information Forward Looking Statements Statements made in this document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forwardlooking statements include, but are not limited to, statements relating to Evergy's strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investme ...

Evergy, Inc. (NASDAQ:EVRG) Q1 2022 Earnings Conference Call May 5, 2022 9:00 AM ET Company Participants David A. Campbell – President and Chief Executive Officer Kirkland Andrews – Executive Vice President and Chief Financial Officer Lori Wright – Vice President Investor Relations and Treasurer Conference Call Participants Michael Sullivan – Wolfe Research Michael Lapides – Goldman Sachs Darius Anderson – Bank of America Operator Good day, ladies and gentlemen, and welcome to the First Quarter 2022 Evergy I ...

[Part I - Financial Information](index=8&type=section&id=Part%20I%20-%20Financial%20Information) Presents unaudited consolidated financial statements and management's discussion and analysis for Evergy and its subsidiaries [Item 1. Financial Statements](index=8&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited consolidated financial statements for Evergy, Inc., Evergy Kansas Central, and Evergy Metro for Q1 2022 [Evergy, Inc. Financial Statements](index=8&type=section&id=Evergy%2C%20Inc.%20Financial%20Statements) Evergy, Inc. reported **net income of $122.5 million** in Q1 2022, a decrease from $191.6 million, due to lower operating revenues Evergy, Inc. Consolidated Statement of Comprehensive Income (Q1 2022 vs Q1 2021) | Metric | Q1 2022 (millions) | Q1 2021 (millions) | | :--- | :--- | :--- | | **Operating Revenues** | $1,223.9 | $1,611.9 | | **Income from Operations** | $253.1 | $317.7 | | **Net Income Attributable to Evergy, Inc.** | $122.5 | $191.6 | | **Diluted EPS** | $0.53 | $0.84 | Evergy, Inc. Consolidated Balance Sheet Highlights (as of March 31, 2022) | Metric | March 31, 2022 (millions) | December 31, 2021 (millions) | | :--- | :--- | :--- | | **Total Current Assets** | $1,722.0 | $1,710.3 | | **Total Assets** | $28,739.9 | $28,520.5 | | **Total Current Liabilities** | $3,391.3 | $3,102.9 | | **Total Equity** | $9,237.5 | $9,241.7 | Evergy, Inc. Consolidated Statement of Cash Flows (Q1 2022 vs Q1 2021) | Metric | Q1 2022 (millions) | Q1 2021 (millions) | | :--- | :--- | :--- | | **Cash Flows from Operating Activities** | $265.1 | $(28.6) | | **Cash Flows used in Investing Activities** | $(531.3) | $(475.2) | | **Cash Flows from Financing Activities** | $262.2 | $840.9 | [Evergy Kansas Central, Inc. Financial Statements](index=13&type=section&id=Evergy%20Kansas%20Central%2C%20Inc.%20Financial%20Statements) Evergy Kansas Central, Inc. reported **net income of $72.0 million** in Q1 2022, a decrease from $178.1 million, due to lower operating revenues Evergy Kansas Central, Inc. Consolidated Statement of Income (Q1 2022 vs Q1 2021) | Metric | Q1 2022 (millions) | Q1 2021 (millions) | | :--- | :--- | :--- | | **Operating Revenues** | $613.9 | $901.1 | | **Income from Operations** | $127.2 | $240.3 | | **Net Income Attributable to Evergy Kansas Central, Inc.** | $72.0 | $178.1 | Evergy Kansas Central, Inc. Consolidated Balance Sheet Highlights (as of March 31, 2022) | Metric | March 31, 2022 (millions) | December 31, 2021 (millions) | | :--- | :--- | :--- | | **Total Assets** | $13,183.4 | $13,075.6 | | **Total Liabilities** | $8,591.8 | $8,534.1 | | **Total Equity** | $4,591.6 | $4,541.5 | [Evergy Metro, Inc. Financial Statements](index=18&type=section&id=Evergy%20Metro%2C%20Inc.%20Financial%20Statements) Evergy Metro, Inc. reported **net income of $54.6 million** in Q1 2022, an increase from $33.5 million, despite decreased operating revenues Evergy Metro, Inc. Consolidated Statement of Comprehensive Income (Q1 2022 vs Q1 2021) | Metric | Q1 2022 (millions) | Q1 2021 (millions) | | :--- | :--- | :--- | | **Operating Revenues** | $422.5 | $516.2 | | **Income from Operations** | $95.6 | $71.2 | | **Net Income** | $54.6 | $33.5 | Evergy Metro, Inc. Consolidated Balance Sheet Highlights (as of March 31, 2022) | Metric | March 31, 2022 (millions) | December 31, 2021 (millions) | | :--- | :--- | :--- | | **Total Assets** | $9,112.2 | $9,156.8 | | **Total Liabilities** | $6,036.4 | $6,135.6 | | **Total Equity** | $3,075.8 | $3,021.2 | [Combined Notes to Unaudited Consolidated Financial Statements](index=23&type=section&id=Combined%20Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) These notes explain consolidated financial statements, covering organization, accounting policies, and key financial events - The February 2021 winter weather event resulted in total net fuel and purchased power costs of **$367.9 million** as of March 31, 2022, which have been deferred to a regulatory asset or liability for future recovery or refund[95](index=95&type=chunk)[96](index=96&type=chunk) - In Q1 2022, Evergy sold an equity investment through a share forward agreement, recognizing a pre-tax loss of **$14.2 million**[101](index=101&type=chunk)[102](index=102&type=chunk) - Evergy Missouri West filed a petition in March 2022 to finance its extraordinary costs from the February 2021 winter weather event through the issuance of securitized bonds[141](index=141&type=chunk) - In March 2022, Evergy Missouri West issued **$250.0 million** of 3.75% First Mortgage Bonds and repaid **$100.0 million** of 3.74% Senior Notes at maturity[162](index=162&type=chunk)[163](index=163&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=49&type=section&id=Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations%20%28MD%26A%29) Management's perspective on Evergy's financial results and condition, explaining the impact of non-recurring events on earnings GAAP vs. Non-GAAP EPS (Q1 2022 vs Q1 2021) | Metric | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | **Diluted EPS (GAAP)** | $0.53 | $0.84 | | **Adjusted EPS (Non-GAAP)** | $0.58 | $0.55 | - The primary reason for the decrease in GAAP net income was the non-recurrence of significant non-regulated energy marketing margins recognized in Q1 2021 related to the February 2021 winter weather event[236](index=236&type=chunk) - Utility gross margin (a non-GAAP measure) decreased by **$71.2 million**, primarily driven by a **$104.9 million** decrease in non-regulated energy marketing margins from the 2021 winter event[256](index=256&type=chunk) - Operating cash flow increased by **$293.7 million**, mainly because the prior-year period included **$363.7 million** in cash payments for net fuel and purchased power costs related to the February 2021 winter weather event[272](index=272&type=chunk) [Evergy, Inc. Results of Operations](index=52&type=section&id=Evergy%2C%20Inc.%20Results%20of%20Operations) Evergy's consolidated income from operations decreased in Q1 2022, primarily due to lower utility gross margin - Utility gross margin decreased by **$71.2 million**, primarily due to a **$104.9 million** decrease in non-regulated energy marketing margins recognized in 2021 related to the February 2021 winter weather event[256](index=256&type=chunk) - Operating and maintenance expense decreased by **$23.3 million**, driven by lower credit loss expense and the non-recurrence of 2021 executive transition costs[258](index=258&type=chunk) - Other expense, net increased by **$18.2 million**, primarily due to a **$14.2 million** loss from the sale of an equity investment in an early-stage energy solutions company[261](index=261&type=chunk) [Liquidity and Capital Resources](index=54&type=section&id=Liquidity%20and%20Capital%20Resources) Evergy maintains liquidity through cash from operations, credit facilities, and debt/equity issuances, with significant borrowing capacity - As of March 31, 2022, Evergy had **$1.6 billion** of available borrowing capacity under its master credit facility[265](index=265&type=chunk) - In February 2022, Evergy entered into a **$500.0 million** unsecured Term Loan Facility, which was fully borrowed as of March 31, 2022[266](index=266&type=chunk) - Cash flows from operating activities increased by **$293.7 million** compared to Q1 2021, primarily because the prior period included **$363.7 million** in cash payments for net fuel and purchased power costs during the February 2021 winter weather event[272](index=272&type=chunk) [Evergy Kansas Central, Inc. MD&A](index=56&type=section&id=Evergy%20Kansas%20Central%2C%20Inc.%20MD%26A) Evergy Kansas Central's net income fell sharply in Q1 2022, driven by decreased utility gross margin Evergy Kansas Central, Inc. Results of Operations (Q1 2022 vs Q1 2021) | Metric | Q1 2022 (millions) | Q1 2021 (millions) | | :--- | :--- | :--- | | **Operating Revenues** | $613.9 | $901.1 | | **Income from Operations** | $127.2 | $240.3 | | **Net Income Attributable to Evergy Kansas Central, Inc.** | $72.0 | $178.1 | - Utility gross margin decreased by **$109.8 million**, primarily due to a **$104.9 million** decrease in non-regulated energy marketing margins from the 2021 winter weather event[283](index=283&type=chunk)[284](index=284&type=chunk) [Evergy Metro, Inc. MD&A](index=58&type=section&id=Evergy%20Metro%2C%20Inc.%20MD%26A) Evergy Metro's net income increased in Q1 2022, driven by increased utility gross margin and lower operating expenses Evergy Metro, Inc. Results of Operations (Q1 2022 vs Q1 2021) | Metric | Q1 2022 (millions) | Q1 2021 (millions) | | :--- | :--- | :--- | | **Operating Revenues** | $422.5 | $516.2 | | **Income from Operations** | $95.6 | $71.2 | | **Net Income** | $54.6 | $33.5 | - Utility gross margin increased by **$15.0 million**, primarily due to jurisdictional allocation differences in fuel recovery mechanisms in Missouri and Kansas regarding the refund to customers for net wholesale revenues from the February 2021 winter event[296](index=296&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=60&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to market risk disclosures since the most recently filed annual report on Form 10-K - There were no material changes from the market risk disclosures included in the Evergy Companies' combined 2021 Form 10-K[303](index=303&type=chunk) [Item 4. Controls and Procedures](index=60&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective with no material changes to internal control - The CEO and CFO of Evergy, Evergy Kansas Central, and Evergy Metro concluded that disclosure controls and procedures were effective at a reasonable assurance level[304](index=304&type=chunk)[306](index=306&type=chunk)[309](index=309&type=chunk) - There were no changes in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[305](index=305&type=chunk)[307](index=307&type=chunk)[310](index=310&type=chunk) [Part II - Other Information](index=61&type=section&id=Part%20II%20-%20Other%20Information) This section covers legal proceedings, risk factors, equity sales, and other corporate information [Item 1. Legal Proceedings](index=61&type=section&id=Item%201.%20Legal%20Proceedings) The Evergy Companies are involved in various lawsuits and regulatory proceedings in the ordinary course of business - For information regarding material lawsuits and proceedings, the report refers to Notes 4 and 9 to the consolidated financial statements[311](index=311&type=chunk) [Item 1A. Risk Factors](index=61&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors previously disclosed in the 2021 Form 10-K for Evergy and its subsidiaries - There have been no material changes with regards to the risk factors discussed in the 2021 Form 10-K for each of Evergy, Evergy Kansas Central and Evergy Metro[312](index=312&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=62&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Information on Evergy's purchases of its own equity securities during Q1 2022, totaling **68,544 shares** Issuer Purchases of Equity Securities (Q1 2022) | Month | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | January | 95 | $66.80 | | February | 6,173 | $60.99 | | March | 62,276 | $60.88 | | **Total** | **68,544** | **$60.90** | [Item 5. Other Information](index=63&type=section&id=Item%205.%20Other%20Information) Details the results of Evergy's annual shareholder meeting on May 3, 2022, where all Board-recommended proposals were approved - At the annual shareholder meeting on May 3, 2022, all twelve director nominees were elected[319](index=319&type=chunk)[320](index=320&type=chunk) - Shareholders approved, on an advisory basis, the 2021 compensation of named executive officers[319](index=319&type=chunk)[320](index=320&type=chunk) - Shareholders approved the Evergy, Inc. Amended and Restated Long-Term Incentive Plan[319](index=319&type=chunk)[321](index=321&type=chunk) - Shareholders ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for 2022[319](index=319&type=chunk)[324](index=324&type=chunk) [Item 6. Exhibits](index=65&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the Form 10-Q, including debt agreements, compensatory plans, CEO/CFO certifications, and XBRL data - Lists various filed exhibits, including the First Mortgage Indenture for Evergy Missouri West, the **$500M** Term Loan Credit Agreement, and the amended Long-Term Incentive Plan[328](index=328&type=chunk) - Includes Rule 13a-14(a)/15d-14(a) certifications for the CEO and CFO of Evergy, Inc., Evergy Metro, and Evergy Kansas Central[328](index=328&type=chunk)

Evergy, Inc. (NASDAQ:EVRG) Q4 Earnings Conference Call February 25, 2021 9:00 AM ET Company Participants Lori Wright - Vice President Investor Relations and Treasurer David Campbell - President and Chief Executive Officer Kirk Andrews - Executive Vice President and Chief Financial Officer Conference Call Participants Shar Pourreza - Guggenheim Partners Durgesh Chopra - Evercore ISI Michael Lapides - Goldman Sachs Julien Dumoulin-Smith - Bank of America Nicholas Campanella - Credit Suisse Travis Miller - Mor ...

Fourth Quarter 2021 Earnings Call February 25, 2022 ==evergy Important Information Forward Looking Statements Statements made in this document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forwardlooking statements include, but are not limited to, statements relating to Evergy's strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and ...