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]

Financial Performance - Q2 2025 GAAP earnings were $039 per share, compared to $045 per share in Q2 2024[10] - Adjusted Operating Earnings* for Q2 2025 were $039 per share, versus $047 per share in Q2 2024[10] - Exelon is affirming its 2025 EPS* guidance of $264 - $274 per share, based on expected average outstanding shares of 1014 million[10, 11] - The company reaffirms its 2024-2028 EPS* CAGR of 5-7%, expecting to be at the midpoint or better[10] Rate Base and Capital Investment - Exelon anticipates a 74% rate base growth resulting from $38 billion of capital investment, with a potential $10-15 billion transmission opportunity beyond the plan[10] - The company has priced all $700 million of 2025's annualized equity need and ~$157 million (~22%) of 2026's annualized equity need to support the capital investment plan through 2028[10] Regulatory and Operational Updates - Base rate cases are on track, with orders expected in the next 6-9 months[10] - Exelon has a large load pipeline of 17+ GW as of Q4 2024, with an additional 16 GW undergoing analysis and design in Q2 2025[10] - Filed base distribution rate cases for 2025 account for ~5% of Exelon's consolidated rate base[17] Balance Sheet and Credit Metrics - Exelon maintains a strong balance sheet providing strategic and financial flexibility[18] - The company's average credit metrics since separation are ~13% [20] - Exelon established a $25 billion ATM program on May 2, 2025, effective through May 2, 2028[23] Transmission Opportunities - Exelon sees $10-15 billion of identified transmission opportunity beyond the plan[35]

Financial Performance - Q1 2025 GAAP earnings were $0.90 per share, compared to $0.66 per share in Q1 2024[10] - Adjusted Operating Earnings* for Q1 2025 were $0.92 per share, versus $0.68 per share in Q1 2024[10] - Exelon is affirming its 2025 EPS* guidance of $2.64 - $2.74 per share[11] - The company is reaffirming its 2024-2028 EPS* CAGR of 5-7%, expecting to be at the midpoint or better[11] - Exelon anticipates a 7.4% rate base growth resulting from $38 billion of capital investment, with a potential $10-15 billion transmission opportunity beyond the plan[11] Regulatory and Strategic Developments - State legislative sessions are featuring energy bills focused on energy security and affordability[11] - Maryland passed laws supporting energy security, providing rules for large load customers, assisting customer affordability, and refining tools to support timely cost recovery[11] - Exelon has a Q4 pipeline of 17+ GW of anticipated large load, driving incremental investment opportunities beyond the plan, with an additional 16 GW undergoing analysis and design in Q1 2025[11] - Filed base distribution rate cases for 2025 account for approximately 5% of Exelon's consolidated rate base[18] Financial Strategy - Approximately 60%, or $425 million, of 2025's annualized equity need of $700 million has been priced for issuance this year, supporting a balanced funding strategy for the capital investment plan through 2028[11] - Exelon executed approximately 50% of its 2025 debt financing needs in Q1, including $1 billion of hybrid debt, which receives 50% equity credit[27]