Part I - Financial Information [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, detailing financial position, performance, cash flows, and notes on significant events, including the February 2021 winter weather event [Evergy, Inc. Financial Statements](index=8&type=section&id=Evergy%2C%20Inc.%20Financial%20Statements) Evergy, Inc. reported a significant increase in Q1 2021 net income to **$191.6 million**, with operating revenues reaching **$1.61 billion**, while operating cash flow turned negative due to winter weather event costs Evergy, Inc. Consolidated Balance Sheet Highlights (in millions) | Account | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Current Assets** | $2,001.9 | $1,624.3 | | **Total Assets** | $28,020.1 | $27,114.8 | | **Total Current Liabilities** | $3,244.4 | $2,355.8 | | **Total Liabilities** | $19,225.7 | $18,396.3 | | **Total Equity** | $8,794.4 | $8,718.5 | Evergy, Inc. Consolidated Income Statement Highlights (in millions, except EPS) | Metric | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | **Operating Revenues** | $1,611.9 | $1,116.7 | | **Income from Operations** | $317.7 | $197.5 | | **Net Income Attributable to Evergy, Inc.** | $191.6 | $69.4 | | **Diluted EPS** | $0.84 | $0.31 | Evergy, Inc. Consolidated Cash Flow Highlights (in millions) | Cash Flow Category | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $(28.6) | $320.6 | | **Net Cash used in Investing Activities** | $(475.2) | $(333.4) | | **Net Cash from Financing Activities** | $840.9 | $294.0 | [Evergy Kansas Central, Inc. Financial Statements](index=13&type=section&id=Evergy%20Kansas%20Central%2C%20Inc.%20Financial%20Statements) Evergy Kansas Central, Inc. reported a substantial Q1 2021 net income increase to **$178.1 million**, driven by operating revenues of **$901.1 million**, influenced by the February 2021 winter weather event Evergy Kansas Central, Inc. Consolidated Balance Sheet Highlights (in millions) | Account | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | $12,871.5 | $12,589.1 | | **Total Liabilities** | $8,409.6 | $8,308.3 | | **Total Equity** | $4,461.9 | $4,280.8 | Evergy Kansas Central, Inc. Consolidated Income Statement Highlights (in millions) | Metric | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | **Operating Revenues** | $901.1 | $560.1 | | **Income from Operations** | $240.3 | $114.5 | | **Net Income Attributable to Evergy Kansas Central, Inc.** | $178.1 | $52.4 | [Evergy Metro, Inc. Financial Statements](index=18&type=section&id=Evergy%20Metro%2C%20Inc.%20Financial%20Statements) Evergy Metro, Inc. reported Q1 2021 net income of **$33.5 million** and operating revenues of **$516.2 million**, but operating cash flow turned negative at (**$117.1 million**) Evergy Metro, Inc. Consolidated Balance Sheet Highlights (in millions) | Account | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | $9,053.5 | $8,915.8 | | **Total Liabilities** | $6,260.8 | $6,156.6 | | **Total Equity** | $2,792.7 | $2,759.2 | Evergy Metro, Inc. Consolidated Income Statement Highlights (in millions) | Metric | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | **Operating Revenues** | $516.2 | $375.5 | | **Income from Operations** | $71.2 | $63.7 | | **Net Income** | $33.5 | $25.6 | [Combined Notes to Unaudited Consolidated Financial Statements](index=23&type=section&id=Combined%20Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Detailed notes explain financial statements, highlighting the **$341.3 million** impact of the February 2021 winter weather event, deferred to regulatory assets, and a securities purchase agreement with Bluescape Energy Partners - The February 2021 winter weather event caused Evergy to incur **$341.3 million** in net fuel and purchased power costs. These costs were primarily driven by Evergy Missouri West (**$297.3M**) and Evergy Kansas Central (**$120.7M**), offset by net wholesale revenues at Evergy Metro (**$76.7M**)[92](index=92&type=chunk) - The company has deferred substantially all of the winter weather event costs to a regulatory asset or liability, expecting future recovery from or refund to customers, though the timing may be extended to moderate customer bill impacts[93](index=93&type=chunk)[94](index=94&type=chunk) - In February 2021, Evergy entered into a securities purchase agreement with an affiliate of Bluescape for approximately **$113.2 million** in common stock and a warrant to purchase up to **3.95 million** additional shares. The transaction was completed in April 2021[193](index=193&type=chunk) Revenue from Contracts with Customers by Segment (Q1 2021 vs Q1 2020, in millions) | Segment | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | **Evergy, Inc.** | | | | Total electric retail | $883.7 | $938.4 | | Wholesale | $487.5 | $63.5 | | **Evergy Kansas Central** | | | | Total electric retail | $433.3 | $415.7 | | Wholesale | $272.4 | $54.8 | | **Evergy Metro** | | | | Total electric retail | $279.1 | $353.1 | | Wholesale | $200.5 | $6.8 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=45&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2021 financial results, highlighting a net income increase to **$191.6 million** from winter weather event margins, a new net-zero carbon goal by 2045, and sufficient liquidity Evergy, Inc. Earnings Overview (in millions, except EPS) | Metric | Q1 2021 | Q1 2020 | Change | | :--- | :--- | :--- | :--- | | **Net income attributable to Evergy, Inc.** | $191.6 | $69.4 | $122.2 | | **Earnings per common share, diluted** | $0.84 | $0.31 | $0.53 | - The increase in net income was primarily due to non-regulated energy marketing margins from the February 2021 winter weather event, higher retail sales from favorable weather, and increased weather-normalized demand[221](index=221&type=chunk) - Evergy announced a revised goal to achieve net-zero carbon emissions by **2045**, with an interim goal of a **70% reduction** in CO2 emissions from 2005 levels by **2030**[217](index=217&type=chunk) Reconciliation of GAAP to Adjusted (non-GAAP) Earnings (in millions) | Description | Q1 2021 Earnings | Q1 2021 EPS | Q1 2020 Earnings | Q1 2020 EPS | | :--- | :--- | :--- | :--- | :--- | | **Net income attributable to Evergy, Inc. (GAAP)** | $191.6 | $0.84 | $69.4 | $0.31 | | Non-regulated energy marketing margin (pre-tax) | $(96.5) | $(0.42) | — | — | | Severance costs, pre-tax | $1.6 | $0.01 | $27.0 | $0.12 | | Advisor expenses, pre-tax | $1.5 | $0.01 | $6.6 | $0.02 | | Income tax effect | $19.7 | $0.08 | $(8.8) | $(0.04) | | *Other adjustments not shown* | ... | ... | ... | ... | | **Adjusted earnings (non-GAAP)** | $125.4 | $0.55 | $94.2 | $0.41 | [Quantitative and Qualitative Disclosures About Market Risk](index=57&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to market risk disclosures have occurred since the 2020 Form 10-K, which provides a comprehensive discussion of business, legal, operational, and credit risks - There have been no material changes in market risk from the disclosures provided in the Evergy Companies' combined 2020 Form 10-K[280](index=280&type=chunk) [Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2021, with a new customer billing system implemented at Evergy Kansas Central in January 2021 requiring internal control updates - The chief executive officer and chief financial officer of Evergy, Evergy Kansas Central, and Evergy Metro concluded that disclosure controls and procedures were effective as of the end of the period[281](index=281&type=chunk)[285](index=285&type=chunk)[288](index=288&type=chunk) - In January 2021, Evergy Kansas Central implemented a new customer billing system, which constituted a change to its internal control over financial reporting. Corresponding updates to internal controls were made[283](index=283&type=chunk)[286](index=286&type=chunk) Part II - Other Information [Legal Proceedings](index=59&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various lawsuits and regulatory proceedings, with material legal matters detailed in Notes 4 and 9 of the consolidated financial statements - The company is party to various lawsuits and regulatory proceedings. Information regarding material proceedings is incorporated by reference from Notes 4 and 9 to the consolidated financial statements[290](index=290&type=chunk) [Risk Factors](index=59&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors have occurred since the 2020 Form 10-K, and the business remains subject to unpredictable factors that could materially affect future results - There have been no material changes to the risk factors discussed in the 2020 Form 10-K for Evergy, Evergy Kansas Central, and Evergy Metro[291](index=291&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=59&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Evergy purchased **29,851** shares of its equity securities at **$56.96** per share in Q1 2021 to cover withholding taxes for employee restricted stock vesting, not as part of a repurchase plan Issuer Purchases of Equity Securities (Q1 2021) | Month | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | January | — | — | | February | — | — | | March | 29,851 | $56.96 | | **Total** | **29,851** | **$56.96** | - The shares were purchased for withholding taxes related to the vesting of restricted stock and performance shares[293](index=293&type=chunk) [Defaults Upon Senior Securities](index=59&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults on its senior securities during the period - None[294](index=294&type=chunk) [Mine Safety Disclosures](index=59&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company's operations - Not applicable[295](index=295&type=chunk) [Other Information](index=60&type=section&id=Item%205.%20Other%20Information) Evergy's annual shareholder meeting on May 4, 2021, resulted in the election of thirteen directors, advisory approval of executive compensation, and ratification of Deloitte & Touche LLP as the 2021 independent auditor - At the annual shareholder meeting on May 4, 2021, shareholders elected all thirteen director nominees, approved executive compensation on an advisory basis, and ratified the appointment of Deloitte & Touche LLP as the independent auditor for 2021[297](index=297&type=chunk)[298](index=298&type=chunk) [Exhibits](index=62&type=section&id=Item%206.%20Exhibits) This section lists Form 10-Q exhibits, including various agreements, CEO/CFO certifications, and XBRL data files, with key agreements like the Note Purchase Agreement and Securities Purchase Agreement incorporated by reference - Key exhibits filed include the Note Purchase Agreement from April 2021, the Securities Purchase Agreement with an affiliate of Bluescape from February 2021, and CEO/CFO certifications[306](index=306&type=chunk)[314](index=314&type=chunk)[322](index=322&type=chunk)

Fourth Quarter 2020 Earnings Call February 26, 2021 %evergy Public Important Information Statements made in this presentation 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 our strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment go ...

Evergy, Inc. (NASDAQ:EVRG) Q4 2020 Earnings Conference Call February 26, 2021 8:00 AM ET Company Participants Lori Wright - VP, Corporate Planning, IR & Treasurer David Campbell - President, CEO & Director Kirkland Andrews - EVP & CFO Conference Call Participants Shahriar Pourreza - Guggenheim Securities Dariusz Lozny - Bank of America Merrill Lynch Michael Lapides - Goldman Sachs Group Paul Patterson - Glenrock Associates Charles Fishman - Morningstar Operator Ladies and gentlemen, thank you for standing b ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to_______ | --- | --- | --- | |---------------------------------|------------------------------------------------------------------------------------ ...

Investor Update December 2020 %evergy Important Information Forward Looking Statements Statements made in this presentation 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 our strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goal ...

Investor Update November 2020 %evergy. Important Information Forward Looking Statements Statements made in this presentation 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 our strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goa ...

Evergy, Inc. (NASDAQ:EVRG) Q3 2020 Earnings Conference Call November 5, 2020 9:00 AM ET Company Participants Lori Wright - Vice President, Corporate Planning, Investor Relations and Treasurer Terry Bassham - President and Chief Executive Officer Tony Somma - Executive Vice President and Chief Financial Officer Chuck Caisley - Chief Customer Officer Kevin Bryant - Executive Vice President and Chief Operating Officer Conference Call Participants Shar Pourreza - Guggenheim Securities Dariusz Lozny - Bank of A ...

Third Quarter 2020 Earnings Call November 5, 2020 ==evergy Public Important Information Forward Looking Statements Statements made in this presentation 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 our strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense ...

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, 2020 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, Commission state of incorporation, address of principal I.R.S. Employer | -- ...

Table of Contents | --- | --- | --- | |---------------|-----------------------------------------------------------------------|-------------------------| | | Exact name of registrant as specified in its charter, | | | Commission | state of incorporation, address of principal | I.R.S. Employer | | File Number | executive offices and telephone number | Identification Number | | --- | --- | --- | |-----------|------------------------------------------------------------------------------------------------------ ...