Focused on Our Future 4Q 2025 Strategic & Financial Highlights Published February 17, 2026 Forward-Looking Statements Forward-Looking Statements: This presentation includes forward-looking statements based on information currently available to management and unless the context requires otherwise, references to "we," "us," "our" and "FirstEnergy" refers to FirstEnergy Corp. and its subsidiaries. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue relian ...

Financial Data and Key Metrics Changes - Edison International reported third quarter core earnings per share (EPS) of $2.34, up from $1.51 a year ago, influenced by a true-up for the 2025 General Rate Case [5][17] - The company narrowed its 2025 core EPS guidance range to $5.95 to $6.20, reflecting strong year-to-date performance and outlook for the remainder of the year [5][18] - The company reaffirmed its long-term core EPS growth target of 5% to 7% through 2028 [5][17] Business Line Data and Key Metrics Changes - Southern California Edison (SCE) has made significant progress in wildfire mitigation, deploying over 6,800 miles of covered conductor and planning to harden nearly 90% of its distribution lines in high fire risk areas by year-end [13][14] - The final decision on the 2025 General Rate Case authorized base revenue of $9.7 billion, supporting investments in wildfire mitigation and reliability [12][13] Market Data and Key Metrics Changes - California's legislative session concluded with the passage of SB 254, creating an $18 billion continuation account to support utilities and customers in wildfire risk management [6][8] - The company expects a near-term load growth compound annual growth rate (CAGR) of up to 3%, with long-term electricity sales projected to nearly double over the next two decades [25] Company Strategy and Development Direction - The company is focused on legislative and regulatory progress to enhance financial stability and operational execution, particularly in wildfire risk management [15][16] - Edison International is committed to maintaining affordability for customers while investing in safety and reliability [12][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the legislative actions taken to address wildfire risks and the financial stability of investor-owned utilities [6][9] - The company is optimistic about future legislative actions and the potential for meaningful reforms to address climate-driven natural disasters [9][16] Other Important Information - The company is preparing for a comprehensive report due in April 2026 to evaluate long-term reforms related to wildfire risk and cost allocation [8][9] - SCE expects to receive approximately $1.6 billion in securitization proceeds from the TKM settlement by year-end [22] Q&A Session Summary Question: Clarification on the $0.10 charge related to preferred equity - Management confirmed that the $0.10 charge is related to preferred equity series with rate resets in March 2026 and March 2027, and they are evaluating options for addressing this [32][33] Question: Participation level in the Wildfire Recovery Compensation Program - Management indicated that the program has not yet launched but is expected to finalize soon, and participation rates will be crucial for estimating losses [35][36] Question: Growth rate trends and guidance - Management expressed confidence in the 5% to 7% EPS growth rate, citing clarity from the General Rate Case and various regulatory proceedings [45][46] Question: SB 254 CapEx and equity return - Management clarified that the CapEx related to wildfire mitigation under SB 254 will not earn an equity return and will be considered in future rate cases [97][98] Question: Breakdown of near-term sales growth - Management noted that the near-term sales growth of 1% to 3% is driven by electrification, residential growth, and commercial and industrial customers [104]