Financial Data and Key Metrics Changes - The company reported adjusted EPS of $1.23 for Q1 2025, which is $0.02 higher than Q1 2024 and $0.03 above estimates [8] - Adjusted EPS estimate for Q2 2025 is $0.85 per share, reflecting a significant downside compared to Q2 2024 [10][21] - Weather-related impacts contributed $0.08 to year-over-year performance due to a milder Q1 2024 and a slightly colder Q1 2025 [9] Business Line Data and Key Metrics Changes - Retail electricity sales were down 0.3% year-over-year, primarily due to usage impacts on residential customers, partially offset by customer additions [10] - Data center sales increased by 11% year-over-year, while office buildings and the transportation sector saw increases of 4% each [11] - The company has a large load pipeline of over 50 gigawatts of potential incremental load by the mid-2030s, with 10 gigawatts already committed [11][12] Market Data and Key Metrics Changes - Economic development activity in the Southeast was robust, with over $11 billion in capital investment and more than 4,000 new jobs announced [11] - Unemployment rates and population growth in the service territories are better than national averages, indicating a strong economic position [11] Company Strategy and Development Direction - The company is focused on disciplined execution and maintaining affordability while navigating potential tariff impacts, estimating a 1% to 3% increase in costs [5][6] - Ongoing investments in existing fleet and modernization of facilities are part of the 2025 integrated resource plan [12] - The company aims to maintain strong investment-grade credit ratings while addressing $4 billion in equity needs over five years [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial outlook, emphasizing the resilience of the Southeast economy and customer growth in service territories [4][6] - The company does not expect a material impact from tariffs on its forecast and remains focused on disciplined execution [6] - Management highlighted the importance of regulatory frameworks and customer-centric business models in supporting reliable and affordable energy [7] Other Important Information - The board approved an 8¢ per share increase in the annual common dividend, marking the 24th consecutive annual increase [17] - The company is actively engaging with policymakers regarding tax credits and their benefits to customers [60] Q&A Session Summary Question: Clarification on Q2 EPS guidance - Management explained that the guidance reflects significant weather differentials and timing of transactions within the Georgia transmission system [21][22] Question: Update on Georgia Power load pipeline - The pipeline totals about 52 gigawatts, with 4 gigawatts contracted and 8 gigawatts committed, showing increased near-term interest [27][28] Question: Changes in data center activity following rate structure modifications - Management noted that it is early to assess customer reactions to the new tariff framework, but growth in the pipeline continues [78][81] Question: Feedback on RFPs and technology preferences - Management stated that they cannot disclose specifics about the RFP process but emphasized the all-source nature of the RFPs [84][86] Question: Dividend policy and future increases - Management indicated that dividend growth may remain modest due to significant financing needs, with reevaluation possible if capital opportunities change [111]

Financial Data and Key Metrics Changes - The company reported adjusted EPS of $1.23 for Q1 2025, which is $0.02 higher than Q1 2024 and $0.03 above estimates [9] - Adjusted EPS estimate for Q2 2025 is $0.85, reflecting a significant downside compared to Q2 2024 [10][21] - Weather-related impacts contributed $0.08 to year-over-year performance due to a milder Q1 2024 and a slightly colder Q1 2025 [9] Business Line Data and Key Metrics Changes - Retail electricity sales were down 0.3% year-over-year, primarily due to usage impacts on residential customers, partially offset by customer additions [10] - Data center sales increased by 11% year-over-year, while office buildings and the transportation sector saw increases of 4% each [11] - The company has a large load pipeline of over 50 gigawatts of potential incremental load by the mid-2030s, with 10 gigawatts already committed [11][12] Market Data and Key Metrics Changes - Economic development activity in the Southeast was robust, with over $11 billion in capital investment and more than 4,000 new jobs announced [11] - Unemployment rates and population growth in the service territories are better than national averages, indicating a strong economic position [11] Company Strategy and Development Direction - The company is focused on disciplined execution and maintaining affordability while navigating potential tariff impacts, estimating a 1% to 3% cost increase due to tariffs [6][7] - Ongoing investments in existing fleet and modernization of facilities are part of the 2025 integrated resource plan [12] - The company aims to provide reliable and affordable energy to over 9 million customers, leveraging strong vendor relationships and a diverse supplier portfolio [6][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial outlook, emphasizing strong customer growth and economic resilience in the Southeast [5][8] - There is ongoing policy uncertainty regarding tariffs, but the company does not expect a material impact on its forecast [7] - The company remains optimistic about future growth opportunities, particularly in the data center sector [26][36] Other Important Information - The board approved an 8¢ per share increase in the annual common dividend, marking the 24th consecutive annual increase [17] - The company has issued $2.2 billion of long-term debt year-to-date, nearly half of the projected financing needs for 2025 [15] Q&A Session Summary Question: Clarification on Q2 EPS guidance - Management explained that the guidance reflects significant weather differentials and timing of transactions within the Georgia transmission system [21][22] Question: Update on Georgia Power load pipeline - The pipeline totals about 52 gigawatts, with 4 gigawatts contracted and 8 gigawatts committed, showing increased interest from customers [27] Question: Feedback on data center activity post-rate structure modifications - Management indicated that it is early to assess customer reactions, but the new framework provides order and certainty for engaging with customers [78] Question: Insights on the Georgia Power rate case - Management confirmed that they are on track to file by early July and emphasized affordability as a primary consideration [49][100] Question: Impact of tariffs on growth opportunities - Management stated that existing projects are well-positioned against tariff impacts, and future projects will be executed with risk mitigations in place [96] Question: Dividend policy considerations - Management noted that maintaining a modest growth in dividends is essential to support financing needs and capital plans [108]

Core Viewpoint - Southern Co. reported quarterly earnings of $1.23 per share, exceeding the Zacks Consensus Estimate of $1.20 per share, and showing an increase from $1.03 per share a year ago, indicating a positive earnings surprise of 2.50% [1] Financial Performance - The company achieved revenues of $7.78 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 10.96%, compared to $6.65 billion in the same quarter last year [2] - Over the last four quarters, Southern Co. has exceeded consensus EPS estimates three times and topped revenue estimates four times [2] Stock Performance - Southern Co. shares have increased approximately 11.6% since the beginning of the year, contrasting with the S&P 500's decline of 5.3% [3] Future Outlook - The company's earnings outlook will be crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the next quarter is $1.11 on revenues of $6.6 billion, and for the current fiscal year, it is $4.29 on revenues of $27.57 billion [7] Industry Context - The Utility - Electric Power industry, to which Southern Co. belongs, is currently ranked in the top 14% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8] - A related company, American Electric Power, is expected to report quarterly earnings of $1.39 per share, reflecting a year-over-year increase of 9.5%, with a revenue expectation of $5.34 billion, up 6.7% from the previous year [9][10]

2 Non-GAAP Financial Measures In addition to including earnings per share (EPS) in accordance with generally accepted accounting principles (GAAP), this presentation also includes historical adjusted EPS excluding: (1) estimated loss on plants under construction and (2) accelerated depreciation from repowering. Estimated loss on plants under construction includes charges (net of salvage proceeds), associated legal expenses (net of insurance recoveries), and tax impacts related to Mississippi Power's integra ...

Core Points - Jacobs has been awarded a five-year contract by the West Basin Municipal Water District for operations and maintenance services at the Edward C. Little Water Recycling Facility, which is the largest water recycling operation in the U.S. [1][4] - The Edward C. Little Water Recycling Facility produces 40 million gallons of recycled water per day and offers five types of fit-for-purpose recycled water [2][3] - Jacobs will utilize its Digital OneWater suite, including Intelligent O&M, to enhance sustainability and operational efficiencies while optimizing chemical and power consumption [3][4] Company Overview - Jacobs generates approximately $12 billion in annual revenue and employs nearly 45,000 people, providing end-to-end services across various sectors including water, energy, and environmental services [5] - The company has a history of delivering and modernizing significant water infrastructure projects in California, enhancing the reliability and quality of water services [4][5] Industry Context - The West Basin Municipal Water District plays a crucial role in supplying quality recycled water as a sustainable resource to municipal, industrial, and commercial customers in coastal Los Angeles County [3][4] - The contract with Jacobs reflects West Basin's commitment to long-term performance and quality service in recycled water treatment [4]

Core Viewpoint - Southern Cross Gold Consolidated Ltd has announced an upsized private placement of approximately C$143 million/AUD$162 million to fund its strategic Sunday Creek Gold-Antimony Project, reflecting strong demand from institutional and existing investors [1][3][8]. Proposed Placement - The company aims to raise approximately C$143 million through a private placement of 31.8 million common shares at C$4.50 per share and/or Chess Depositary Interests (CDIs) at A$5.10 per CDI [3][4]. - The placement will not require shareholder approval and will be conducted under the company's placement capacity according to ASX listing rules [4]. Pricing and Discounts - The issue price for the CDIs represents an approximate 8.9% discount to the last closing price on April 28, 2025, and an 8.3% discount to the 5-day volume weighted average price prior to a trading halt [5]. - The issue price for the Common Shares represents a 4.1% discount to the last closing price on April 29, 2025, and a 5.0% discount to the 5-day volume weighted average price prior to the trading halt [6]. Timeline and Conditions - The issuance of the Securities is expected to occur in two tranches: Tranche 1 on May 6, 2025, for CDIs and Tranche 2 on May 14, 2025, for the remaining Common Shares [7]. - All Securities will be subject to a four-month hold period from the closing date [7]. Use of Funds - The net proceeds from the placement will be allocated to key milestones for the Sunday Creek Gold-Antimony Project, including: - C$53 million for drilling to establish an Inferred Resource by Q1 2027 - C$27 million for decline development to enhance access to mineralization - C$4 million for a Preliminary Economic Assessment - C$59 million for exploration target expansion and working capital over three years [8][18]. Strategic Importance - The Sunday Creek project is positioned as a significant gold and antimony discovery, with antimony contributing 20% of the in-situ value, which has gained importance due to geopolitical factors affecting supply [16][17]. - The project is expected to be developed primarily based on gold economics, reducing risks associated with antimony while maintaining strategic supply potential [17].

Table of Contents Index to Financial Statements 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 March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | | Registrant, | | | --- | --- | --- | | Commission | State of Incorporation, | I.R.S. Employer | | File Number | Add ...

Core Insights - Georgia Power has appointed Audrey King as senior vice president of Corporate Responsibility and president and CEO of the Georgia Power Foundation, focusing on corporate responsibility, philanthropy, community engagement, and volunteerism in Georgia [1][4] - The Georgia Power Foundation is recognized as Georgia's third-largest corporate giving foundation, having supported over 400 organizations statewide in 2024 [1] - Cleve Fann has been named senior vice president of Region External Affairs, succeeding King, and will focus on aligning strategic planning and workforce initiatives with customer and employee needs [5][7] Leadership and Experience - Audrey King has over 30 years of experience with Georgia Power, having held various roles in Customer Service, Sales, Distribution, and External Affairs [2] - Cleve Fann has been with Georgia Power since 2000, leading strategic development and execution of capital programs, particularly in grid investment and distribution reliability [6][7] Community Engagement and Corporate Responsibility - The company emphasizes its commitment to improving the quality of life in Georgia through community engagement and corporate responsibility initiatives [4] - Georgia Power is focused on investing in energy infrastructure to meet the growing energy needs of its customers across the state [7] Company Overview - Georgia Power is the largest electric subsidiary of Southern Company, serving 2.8 million customers across Georgia [8] - The company maintains a diverse energy generation mix, including nuclear, coal, natural gas, and renewables, and is recognized for its customer satisfaction [8]

Core Viewpoint - Vatic Ventures Corp. has entered into a share purchase agreement to acquire 100% of a private company that holds rights to acquire significant uranium properties in Namibia, which are strategically located adjacent to major uranium mines, Rössing and Husab, indicating a strong potential for future uranium production and value appreciation in the context of increasing global demand for uranium [1][9]. Group 1: Acquisition Details - The acquisition involves two uranium properties: EPL 8289 (ZOYA Property) covering 44.62 km² with the potential to acquire up to 80% interest, and EPL 8735 (GALORE Property) covering 87.65 km² with the potential to acquire up to 90% interest [1][2]. - Velvet Clean Energy Corp. is the private company involved in the acquisition, which has signed definitive agreements for both properties, with the ZOYA Property adjacent to the Husab mine and the GALORE Property located near the Rossing mine [2][3]. Group 2: Industry Context - Namibia is the world's 4th largest producer of uranium, contributing approximately 6% of global output, with the Erongo Region having produced over 350 million pounds of U3O8 over the past 48 years [3][4]. - The properties are situated in the "Alaskite Alley," a geological corridor known for high-grade uranium deposits, enhancing their potential for significant mineralization [3][4]. Group 3: Market Outlook - The CEO of Vatic highlighted a persistent gap between uranium supply and demand, which is expected to widen due to a decade of low prices and increasing governmental interest in nuclear power as a clean energy source, suggesting a bullish outlook for uranium prices [9]. - The strategic location of the acquired properties in a top mining jurisdiction with a strong production record positions Vatic favorably for future exploration and development [9]. Group 4: Financial Terms - The acquisition will involve issuing 7,500,000 common shares of Vatic at a deemed price of $0.06 per share to the shareholders of Velvet, subject to TSX Venture Exchange approval [10][11]. - The financial terms for acquiring interests in the ZOYA and GALORE properties include various cash payments and share issuances, with minimum expenditure obligations set at $3 million over four years for the ZOYA Property [14][15]. Group 5: Corporate Changes - Vatic plans to change its name to Ballistic Energy Metals Corp. and consolidate its shares on a 3-for-1 basis, reducing the number of outstanding shares from approximately 41.35 million to about 13.78 million post-consolidation [16][17]. - The consolidation is aimed at positioning the company for future corporate development opportunities and financing transactions [16].

Core Viewpoint - Southern Cross Gold Consolidated Ltd is raising approximately C$120,000,000 through a private placement of securities to strengthen its financial position and execute its strategic business plan [1][11]. Group 1: Placement Details - The company has appointed Stifel Nicolaus Canada Inc. and Aitken Mount Capital Partners Pty Ltd as joint lead managers to facilitate the capital raising [2]. - The placement will involve issuing 26,666,667 common shares at C$4.50 each and/or Chess Depositary Interests (CDIs) at A$5.10 each [2]. - The issue price for CDIs represents an approximate 8.9% discount to the last closing price, while the common shares represent a 4.1% discount [4][5]. Group 2: Use of Proceeds - The net proceeds from the placement are expected to be allocated as follows: - C$53 million for drilling to establish Inferred Resource by Q1 2027 - C$27 million for decline permitting and development to accelerate access to mineralization - C$4 million for Preliminary Economic Assessment - C$36 million for exploration target expansion and working capital [10][18]. Group 3: Strategic Importance - Southern Cross Gold controls the Sunday Creek Gold-Antimony Project, which is significant due to its dual-metal profile and strategic value in light of China's export restrictions on antimony [14][15]. - The project has shown exceptional drilling results and is positioned as a potential key supplier of antimony in the Western world [14][15]. - The company is well-positioned to advance this discovery with a large drill program planned through Q3 2025 [16].