Financial Data and Key Metrics Changes - The company reported earnings of $0.86 per share for Q3 2025, an increase from $0.71 per share in Q3 2024, reflecting a $0.15 increase year-over-year [15][16] - The earnings increase was primarily driven by $0.12 from higher distribution and transmission rates and $0.06 from favorable storm conditions [15][16] - The company reaffirmed its operating earnings guidance for 2025 at $2.64-$2.74 per share, aiming to deliver at the midpoint or better [6][16] Business Line Data and Key Metrics Changes - The utility operating companies ranked one, two, four, and seven in reliability benchmarking, improving from last year's rankings of one, three, five, and eight [7][8] - The company is on track for gas distribution rate cases at Delmarva Power and Atlantic City Electric, with a new rate case filed at Pepco, Maryland [9][18] Market Data and Key Metrics Changes - The Clean and Reliable Grid Affordability Act was passed in Illinois, supporting resource adequacy and expanding energy efficiency budgets [10][46] - Maryland initiated a request for merchant generator proposals for up to 3 GW of new energy supply, although disclosed capacity levels fell short of targets [11][12] Company Strategy and Development Direction - The company aims to continuously improve operational performance while maintaining below-average rates for customers [8][24] - The focus is on leveraging all available options to ensure reliable access to energy and support economic development opportunities [12][26] - The company is advocating for fair recovery of investments and efficient rate-making constructs to support long-term growth [24][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about closing out 2025 strong, with expectations of achieving an ROE aligned with allowed levels in the 9%-10% range [27] - The anticipated shortfall in energy supply is a concern, and the company is ready to partner with states to address growing energy security needs [12][26] Other Important Information - The company has issued $1 billion in debt, completing its planned long-term debt issuances for the year, supported by strong investor demand [19][20] - The company continues to project financial flexibility above the Moody's downgrade threshold, approaching 14% by the end of the guidance period [22] Q&A Session Summary Question: Thoughts on Maryland's RFP and competing options - Management commended Maryland for initiating the process but noted that the responses fell short of needs, emphasizing the focus on affordability and reliability [34][35] Question: Discussions in Pennsylvania regarding resource adequacy - Management confirmed ongoing discussions with various stakeholders and expressed optimism about potential agreements, with more activity expected in the spring [38][39] Question: Investment opportunities from new Illinois legislation - Management highlighted the enhanced energy efficiency program and the target of 3 GW of storage by 2030 as significant opportunities for investment [45][46] Question: Clarification on the ACE rate case - Management expressed confidence in reaching a settlement by the end of the year, emphasizing transparency and collaboration with stakeholders [60][62] Question: Updates on the Amazon TSA and large load pipeline - Management discussed the implementation of transmission services agreements to solidify projects and protect the customer base, noting a growing pipeline of large load projects [68][70]

Financial Data and Key Metrics Changes - The company reported earnings of $0.86 per share for Q3 2025, an increase from $0.71 per share in Q3 2024, reflecting a $0.15 increase year-over-year [15][16] - The earnings increase was primarily driven by $0.12 from higher distribution and transmission rates and $0.06 from favorable storm conditions [15][16] - The company reaffirmed its operating earnings guidance for 2025 at $2.64-$2.74 per share, aiming to deliver at the midpoint or better [6][16] Business Line Data and Key Metrics Changes - The operational performance of the utility companies ranked one, two, four, and seven among peers, improving from last year's rankings of one, three, five, and eight [7][8] - The company is on track for rate cases at Delmarva Power and Atlantic City Electric, with a new rate case filed at Pepco, Maryland [9][17] Market Data and Key Metrics Changes - The Illinois Clean and Reliable Grid Affordability Act was passed, supporting resource adequacy and expanding energy efficiency budgets [10][46] - Maryland initiated a request for merchant generator proposals for up to three gigawatts of new energy supply, although disclosed capacity levels fell short of targets [11][12] Company Strategy and Development Direction - The company aims to continuously improve operational performance while maintaining below-average rates for customers [8][24] - The focus is on leveraging technology and advocating for rate-making constructs that support efficient planning and investment [26][27] - The company is committed to working with states to address energy security needs and ensure reliable access to energy [12][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving the operating earnings guidance and highlighted the importance of addressing customer frustrations regarding high energy costs [34][35] - The company is focused on maintaining a strong balance sheet and delivering consistent growth and long-term value [22][27] Other Important Information - The company has issued $1 billion in debt, completing its planned long-term debt issuances for the year, supported by strong investor demand [19][20] - The company continues to advocate for favorable tax treatment to enhance its credit metrics [22] Q&A Session Summary Question: Thoughts on Maryland's RFP and competing options - Management commended Maryland for initiating the process but noted that the responses fell short of needs, emphasizing the focus on affordability and reliability [34][35] Question: Resource adequacy discussions in Pennsylvania - Management confirmed ongoing discussions with various stakeholders and expressed optimism about reaching agreements on long-term resource adequacy solutions [36][38] Question: Investment opportunities from new Illinois legislation - Management highlighted the potential for enhanced energy efficiency programs and the importance of investing in the grid to maintain reliability and support economic development [44][46] Question: Clarification on the ACE rate case - Management expressed confidence in reaching a settlement for the ACE rate case, emphasizing transparency and collaboration with stakeholders [60][62] Question: Updates on the large load pipeline and TSA agreements - Management provided insights into the implementation of transmission services agreements to solidify projects and protect customer interests [68][70]

Financial Data and Key Metrics Changes - Exelon reported earnings of $0.86 per share for Q3 2025, an increase from $0.71 per share in Q3 2024, reflecting a $0.15 increase year-over-year [14][15] - The company reaffirmed its operating earnings guidance for 2025 at $2.64-$2.74 per share, aiming to deliver at the midpoint or better [5][15] - The earnings increase was primarily driven by $0.12 from higher distribution and transmission rates and $0.06 from favorable storm conditions [14] Business Line Data and Key Metrics Changes - The operational performance of Exelon's utility companies ranked one, two, four, and seven among peers, improving from last year's rankings of one, three, five, and eight [6] - The company is on track with rate cases for gas distribution at Delmarva Power and Atlantic City Electric, and has filed a rate case at Pepco, Maryland [7][16] Market Data and Key Metrics Changes - Illinois passed the Clean and Reliable Grid Affordability Act, which supports resource adequacy and expands energy efficiency budgets [9] - Maryland initiated a request for merchant generator proposals for up to three gigawatts of new energy supply, although disclosed capacity levels fell short of targets [10] Company Strategy and Development Direction - Exelon aims to continuously improve operational performance while maintaining below-average rates for customers [6][25] - The company is focused on leveraging technology and advocating for rate-making constructs that support efficient planning and investment [25][26] - Exelon is committed to working with states to address energy security needs and is prepared to support investments in energy efficiency and traditional generation plants [11][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving the operating earnings guidance and highlighted the importance of addressing customer frustrations with high energy costs [34] - The company is actively engaged in discussions with stakeholders in Pennsylvania regarding resource adequacy and potential long-term agreements [36][37] - Management emphasized the need for states to leverage all available options to ensure reliable access to energy [11] Other Important Information - Exelon has issued $1 billion in debt to support its financing plan and has priced nearly half of its equity needs through 2028 [19][20] - The company continues to advocate for favorable tax treatment to enhance its credit metrics [20] Q&A Session Summary Question: Thoughts on Maryland's RFP and competing options - Management commended Maryland for initiating the process but noted that the responses received fell short of the state's needs, emphasizing the focus on affordability and reliability [34][35] Question: Resource adequacy discussions in Pennsylvania - Management confirmed ongoing discussions with various stakeholders and expressed optimism about potential agreements, with more activity expected in the spring [36][37] Question: Investment opportunities from new Illinois legislation - Management highlighted the Clean and Reliable Grid Affordability Act's focus on energy efficiency and resource adequacy, viewing it as an opportunity for investment and economic development [44][46] Question: Clarification on the ACE rate case - Management expressed confidence in reaching a settlement for the Atlantic City Electric rate case, citing ongoing discussions with stakeholders [61][62]

Financial Data and Key Metrics Changes - Exelon reported earnings of $0.86 per share for Q3 2025, an increase from $0.71 per share in Q3 2024, reflecting a $0.15 increase year-over-year [16] - The company reaffirmed its operating earnings guidance for 2025 at $2.64 to $2.74 per share, aiming to deliver at the midpoint or better [7][17] - The increase in earnings was primarily driven by $0.12 from higher distribution and transmission rates and $0.06 from favorable storm conditions [16] Business Line Data and Key Metrics Changes - Exelon’s four utility operating companies ranked one, two, four, and seven in reliability benchmarking, improving from last year's rankings of one, three, five, and eight [7] - The company is on track for gas distribution rate cases at Delmarva Power and Atlantic City Electric, with a new rate case filed at Pepco, Maryland [8][19] Market Data and Key Metrics Changes - Illinois passed the Clean and Reliable Grid Affordability Act, which supports resource adequacy and expands energy efficiency budgets [10] - Maryland initiated a request for merchant generator proposals for up to three gigawatts of new energy supply, although disclosed capacity levels fell short of targets [11] Company Strategy and Development Direction - Exelon aims to continuously improve operational performance while maintaining below-average rates for customers [8] - The company is focused on leveraging technology and advocating for fair recovery of investments to ensure high service levels [27] - Exelon is committed to working with states to address energy security needs and is exploring utility-owned generation as a solution [12][28] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the anticipated shortfall in energy supply and emphasized the need for all states to leverage available options for securing power [12] - The company expects to grow earnings at an annualized rate of 5% to 7% through 2028, with a rate base growth of 7.4% [15][17] Other Important Information - Exelon has derisked its financing plan and completed all planned long-term debt issuances for the year, with strong investor demand [21] - The company has priced nearly half of its equity needs through 2028, ensuring financial flexibility [22] Q&A Session Summary Question: Thoughts on Maryland's resource adequacy RFP - Management commended Maryland for initiating the process but noted that the responses received fell short of the state's needs [36] Question: Discussions in Pennsylvania regarding resource adequacy - Management confirmed ongoing discussions with various stakeholders and expressed optimism about reaching a middle ground on resource adequacy agreements [40][42] Question: Details on the new Illinois legislation - The Clean and Reliable Grid Affordability Act enhances energy efficiency programs and sets a target for three gigawatts of storage by 2030 [47] Question: Clarification on the large load pipeline - Management indicated that the large load pipeline is more a matter of timing, with ongoing studies and agreements being finalized [82][84] Question: Updates on the Amazon TSA - The company is implementing transmission services agreements to solidify projects and protect existing customers [71][72]

Financial Performance - Q3 2025 GAAP Earnings per share (EPS) was $0.86, compared to $0.70 in Q3 2024[11] - Q3 2025 Adjusted Operating Earnings per share (EPS) was $0.86, compared to $0.71 in Q3 2024[11] - Exelon reaffirmed its 2025 EPS guidance of $2.64 - $2.74 per share, based on expected average outstanding shares of 1,013 million[11, 10] - Exelon reaffirmed its 2024-2028 EPS Compound Annual Growth Rate (CAGR) of 5-7%, with expectations to be at the midpoint or better[11] Regulatory and Operational Updates - Exelon utilities rank among the most reliable in the country, holding the 1st, 2nd, 4th, and 7th positions[11] - ACE and DPL DE Gas rate cases remain on track, while Pepco MD filed a distribution rate case[11] - The large load pipeline is increasing to over 19 GW, with potential upside, while solutions to protect all customers, such as Transmission Security Agreements, remain in focus[11] - Exelon is advocating for resource adequacy solutions that ensure reliable transmission and cost-effective supply while meeting growing demand and state policy goals[11] Capital Investment and Growth - Exelon has a 7.4% rate base growth resulting from $38 billion of capital investment, with a potential $10-15 billion of transmission opportunity beyond the plan[11] - Nearly half of equity needs through 2028 are priced for issuance[11] Financial Flexibility and Credit Metrics - Exelon maintains meaningful financial flexibility over downgrade thresholds, which is expected to strengthen over the planning horizon, with further upside from targeted operating levers[20] - Exelon established a $2.5 billion At-The-Market (ATM) program on May 2, 2025, effective through May 2, 2028[23]

Exelon (EXC) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +13.16%. A quarter ago, it was expected that this energy company would post earnings of $0.37 per share when it actually produced earnings of $0.39, delivering a surprise of +5.41%.Over the last four quarters, the company ha ...

Exhibit 99.1 News Release Contact: James Gherardi Corporate Communications 312-394-7417 Andrew Plenge Investor Relations 779-231-0017 EXELON REPORTS THIRD QUARTER 2025 RESULTS Earnings Release Highlights CHICAGO (Nov. 4, 2025) — Exelon Corporation (Nasdaq: EXC) today reported its financial results for the third quarter of 2025. "I am pleased to report that Exelon has achieved another quarter of strong operational and financial performance," said Exelon President and Chief Executive Officer Calvin Butler. "A ...

Core Insights - Exelon Corporation reported strong operational and financial performance for the third quarter of 2025, with adjusted operating earnings of $0.86 per share, up from $0.71 per share in the same quarter of 2024 [2][3][5] - The company reaffirmed its full-year earnings guidance of $2.64 to $2.74 per share and projected a compounded annual growth rate of 5-7% in operating EPS from 2024 to 2028 [5][12] - Exelon plans to invest $38 billion in critical infrastructure over the next four years to enhance service reliability and affordability for customers [2][5] Financial Performance - Exelon's GAAP net income for Q3 2025 increased to $0.86 per share from $0.70 per share in Q3 2024 [3][5] - Adjusted operating earnings for Q3 2025 also rose to $0.86 per share from $0.71 per share in Q3 2024 [3][5] - The increase in earnings was primarily driven by higher utility earnings due to improved distribution and transmission rates at ComEd and PHI, as well as lower storm costs at PECO and BGE [4][6] Business Unit Performance - ComEd's GAAP net income for Q3 2025 rose to $373 million from $360 million in Q3 2024, attributed to higher distribution and transmission rates [7] - PECO's GAAP net income significantly increased to $250 million from $117 million in Q3 2024, driven by updated recovery of investments and lower storm costs [8] - BGE's GAAP net income grew to $82 million from $45 million in Q3 2024, mainly due to updated distribution rates and lower storm costs [10] - PHI's GAAP net income increased to $291 million from $278 million in Q3 2024, supported by improved distribution and transmission rates [11] Recent Developments - Exelon's Board of Directors declared a quarterly dividend of $0.40 per share, payable on December 15, 2025 [12][14] - Pepco filed an application for a $133 million increase in its electric distribution rates to support infrastructure investments and state climate goals [17] - Pepco completed a $75 million bond issuance to repay existing debt and for general corporate purposes [17]

Company Overview - Exelon (EXC) is headquartered in Chicago and operates in the Utilities sector, with a stock price change of 25.05% since the beginning of the year [3] - The company currently pays a dividend of $0.40 per share, resulting in a dividend yield of 3.4%, which is higher than the Utility - Electric Power industry's yield of 3.08% and the S&P 500's yield of 1.51% [3] Dividend Performance - Exelon's current annualized dividend of $1.60 has increased by 5.3% from the previous year [4] - Over the past 5 years, Exelon has raised its dividend three times, averaging an annual increase of 0.70% [4] - The company's current payout ratio is 60%, indicating that it pays out 60% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - The Zacks Consensus Estimate for Exelon's earnings in 2025 is projected at $2.68 per share, reflecting a year-over-year earnings growth rate of 7.20% [5] - Future dividend growth will depend on earnings growth and the payout ratio [4] Investment Considerations - Exelon is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [6] - Income investors typically favor dividends as they enhance stock investing profits and reduce overall portfolio risk [5]

Core Viewpoint - Exelon Corporation, valued at $46.6 billion, is a utility company focused on reliability, affordability, and sustainability in energy delivery, but has underperformed compared to broader market indices over the past year [1][2]. Financial Performance - Exelon's shares gained 16.2% over the past 52 weeks, while the S&P 500 Index increased by 17.7%. However, year-to-date, Exelon's stock is up 22.5%, outperforming the S&P 500's 16.3% rise [2]. - The company reported Q2 earnings with revenue of $5.4 billion, which was 1.8% below consensus estimates, but adjusted EPS of $0.39 exceeded expectations by 5.4%. The bottom line fell 17% year-over-year due to lower utility earnings [4]. - For fiscal 2025, Exelon reaffirmed adjusted operating earnings guidance of $2.64 to $2.74 per share, with expected EPS growth of 7.2% year-over-year to $2.68 for the current fiscal year [5]. Analyst Ratings - Among 20 analysts covering Exelon, the consensus rating is a "Moderate Buy," consisting of eight "Strong Buy," 10 "Hold," and two "Strong Sell" ratings [6]. - Recently, Wells Fargo initiated coverage with an "Overweight" rating and a price target of $52, indicating a potential upside of 12.7%. The mean price target of $49.88 suggests an 8.2% premium, while the highest target of $57 indicates a 23.6% upside potential [7].