Edison International · NYSE:EIX

Edison International — Investor Presentation (February 2025)

51 slides from Edison International's investor presentation, Feb 28, 2025

  1. Slide 1: February 27, 2025 Business Update

    FEBRUARY 27, 2025 BUSINESS UPDATE Exhibit 99.1

  2. Slide 2: Forward-looking statements

    1Edison International | February 2025 Business Update Statements contained in this presentation about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook, and other statements that are not purely historical,

  3. Slide 3: Edison International leads the transformation of the electric power industry

    2Edison International | February 2025 Business Update Clean Energy Transition LeadershipWildfire Mitigation Financial Information AppendixIntroduction Edison International leads the transformation of the electric power industry One of the nation’s largest electric-only utilities, with over 5 million

  4. Slide 4: Thesis: Wires-focused utility with rate base growth aligned with clean energy goals

    3Edison International | February 2025 Business Update Clean Energy Transition LeadershipWildfire Mitigation Financial Information AppendixIntroduction Thesis: Wires-focused utility with rate base growth aligned with state’s aggressive clean energy goals Constructive California and Federal regulatory

  5. Slide 5: California's regulatory mechanisms provide revenue certainty

    4Edison International | February 2025 Business Update Clean Energy Transition LeadershipWildfire Mitigation Financial Information AppendixIntroduction California’s regulatory mechanisms provide revenue certainty Revenue Decoupling means earnings aren’t affected by changes in electricity sales Long-s

  6. Slide 6: SCE Wildfire Mitigation: Approach, Progress, and Results

    SCE WILDFIRE MITIGATION: APPROACH, PROGRESS, AND RESULTS

  7. Slide 7: Wildfire mitigation links and resources

    6Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation AB 1054 (2019) SB 599 (2022) SCE Safety Certification Wildfire Insurance Fund AB 1054-Related Edison for the Record Map of SCE’s Service Area Stories

  8. Slide 8: SCE is seeing proof points and results from its wildfire mitigation efforts

    7Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation SCE is seeing proof points and results from its substantial wildfire mitigation efforts 1. Since 2018 and as of December 31, 2024 6,400+ MILES OF COV

  9. Slide 9: California has a comprehensive wildfire risk reduction profile

    8Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation California has a comprehensive wildfire risk reduction profile, benefiting customers and investors Suppression CAL FIRE Budget: Doubled since 2017-18

  10. Slide 10: AB 1054 provides a strong regulatory construct for wildfire liability and cost recovery

    9Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation AB 10541 provides a strong regulatory construct for determining wildfire liability and cost recovery Established safety certification process and add

  11. Slide 11: Wildfire Insurance Fund provides liquidity for claims payments

    10Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Wildfire Insurance Fund provides liquidity for claims payments and ceiling on liability to reimburse fund AB 1054 Wildfire Insurance Fund Mechanics1

  12. Slide 12: SCE does not reimburse Fund for eligible claims above annual insurance

    11Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation SCE does not reimburse Fund for eligible claims above annual aggregate insurance of $1 billionIf authorized 100% recovery1 SCE’s Insurance Wildfire

  13. Slide 13: California has continued to increase investments in wildfire suppression and prevention

    12Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation $2.0 $2.5 $2.9 $2.5 $2.6 $3.7 $4.1 $4.2 $4.3 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26* California has continued to in

  14. Slide 14: Covered conductor is a valuable tool to reduce wildfire risk

    13Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Covered conductor is a very valuable tool to expeditiously and cost-effectively reduce wildfire risk specific to SCE ~2.9 ~4.5+ ~0.7 Under- ground C

  15. Slide 15: SCE has completed 88% of planned distribution line hardening

    14Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation SCE has completed 88% of planned distribution line hardening in high fire risk area (HFRA) Completed Hardening (~13,800 miles) Remaining Planned2,3

  16. Slide 16: Clean Energy Transition Leadership

    CLEAN ENERGY TRANSITION LEADERSHIP

  17. Slide 17: Reaching California's 2045 GHG goals requires near-complete transformation of energy use

    16Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Reaching California’s 2045 GHG goals requires a near-complete transformation of energy use economy wide 100% of grid sales with carbon-free electric

  18. Slide 18: EIX is taking steps to reach net zero

    17Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Neutralize remaining emissions: Mostly from natural gas generation supporting reliability and affordability EIX is directly contributing to Californ

  19. Slide 19: Load growth of 80% by 2045 requires acceleration in grid expansion

    18Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Load growth of 80% by 2045 requires a significant acceleration in grid expansion Source: SCE’s Countdown to 2045 analysis. See Countdown to 2045 App

  20. Slide 20: Electrification results in significant household savings

    19Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation 2023 2045 By 2045, electricity demand is projected to rise by over 80% from 2022, primarily due to electrification Households will benefit from thes

  21. Slide 21: Energy share of wallet in SCE's service area compares favorably

    20Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation 0% 2% 4% 6% 8% 10% 12% 14% Mississippi Alabama West Virginia Montana South Dakota Arkansas Kentucky South Carolina Oklahoma Wyoming Maine Louisiana

  22. Slide 22: SCE has lowest system average rate among California IOUs

    21Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation 35.0 34.0 26.4 PG&E SDG&E SCE SCE has lowest system average rate among California IOUs and remains focused on affordability for customers +33% vs. S

  23. Slide 23: Composition of an Average SCE Residential Bill

    22Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Composition of an Average SCE Residential Bill 6% Transmission Investment in operations and maintenance for high-voltage transmission lines 26% Dist

  24. Slide 24: Customer demand is accelerating

    23Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Customer demand is accelerating — 10-year load growth forecast has increased significantly over last two years 2022 Distribution System Plan 2024 Di

  25. Slide 25: Edison International has one of the strongest electrification profiles

    24Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Edison International has one of the strongest electrification profiles in the industry 1. Source: EPRI analysis of Experian data 2. Inflation Reduct

  26. Slide 26: SCE leads large utility transportation electrification programs

    25Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation $872 $806 $457 $414 $394 $313 $309 EIX Utility A Utility B Utility C Utility D Utility E Utility F SCE leads the largest utility transportation elec

  27. Slide 27: SCE's load growth is highly levered to EV adoption

    26Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation SCE’s future load growth is highly levered to EV adoption, a critical component of reaching state GHG goals 1. Includes both light duty and non-ligh

  28. Slide 28: Financial Information

    FINANCIAL INFORMATION RECN

  29. Slide 29: Capital deployment expected to increase in 2025–2028

    28Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation 5.2 5.4 6.7 7.2 7.2 7.0 0.2 0.3 0.8 0.9 1.0 0.7 $5.4 $5.7 $7.5 $8.1 $8.2 $7.7 2023 2024 2025 2026 2027 2028 Capital deployment expected to increase

  30. Slide 30: Over 85% of SCE's capital investments are in its distribution grid

    29Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Over 85% of SCE’s capital investments are in its distribution grid and essential to reliability, resiliency, and readiness objectives 30% 18% 15% 13

  31. Slide 31: Projected ~6–8% rate base growth 2023–2028

    30Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation 33.6 35.4 41.8 45.3 48.7 51.8 7.6 7.4 7.6 7.7 8.1 8.8 $41.2 $42.8 $49.4 $53.0 $56.8 $60.6 2023 2024 2025 2026 2027 2028 Projected ~6–8% rate base gr

  32. Slide 32: 2025 GRC record complete, awaiting proposed decision

    31Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation 2025 GRC record complete — now awaiting proposed decision 1. Does not reflect updates to 2025 cost of capital 2. Refers to stipulated agreements ent

  33. Slide 33: Resolution of legacy wildfires: TKM settlement approved, Woolsey application filed

    32Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Resolution of legacy wildfires entering final stages: TKM settlement approved, and Woolsey application filed TKM (A.23-08-013) Woolsey (A.24-10-002)

  34. Slide 34: Cost recovery for 2017/2018 events benefits financial strength

    33Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Cost recovery for 2017/2018 events benefits financial strength of the utility and reduces costs for customers Modeling sensitivities: For each $1 bi

  35. Slide 35: Revised 2025 Core EPS guidance incorporates TKM settlement

    34Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation Revised 2025 Core EPS guidance of $5.94–6.34 incorporates approved TKM settlement Component Modeling Considerations Rate Base EPS (based on capex le

  36. Slide 36: Memo account recovery and securitizations

    35Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation ~$4.9 billion memo account recovery 2021–20241 ~$1.6 billion securitizations of AB 1054 capex completed ~$3.2 billion remaining recoveries through 2

  37. Slide 37: SCE has obtained approvals for capex in memo accounts since 2020

    36Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation $465 million for Wildfire Mitigation & Restoration (GRC Track 3) $702 million for Wildfire Mitigation & Restoration1 (WMCE) SCE has obtained approva

  38. Slide 38: EIX and SCE are committed to investment grade credit ratings

    37Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation EIX and SCE are committed to investment grade credit ratings 1. Excludes amortization of securitized bonds related to SCE’s AB 1054 Excluded Capital

  39. Slide 39: EIX & SCE do not have variable-rate long-term debt exposure

    38Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation EIX & SCE do not have variable-rate long-term debt exposure Approximately $13 billion of the total ~$34 billion long-term debt portfolio matures thr

  40. Slide 40: EIX track record of delivering on Core EPS guidance

    39Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation EIX has a solid track record of delivering on Core EPS guidance over the last two decades 2024 2023 2022 2021 2020 In-line In-line In-line Exceeded

  41. Slide 41: EIX has consecutive years of dividend growth

    40Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation EIX has 21 consecutive years of dividend growth1 $0.80 $3.31 2004 2025 7% CAGR Dividends per Share 1. 2025 dividend annualized based on dividend dec

  42. Slide 42: EIX expects 5–7% Core EPS growth for 2025–2028

    41Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation EIX expects 5–7% Core EPS growth for 2025–2028, with financing plan showing minimal equity needs 1. For 2025, represents the midpoint of the origina

  43. Slide 43: EIX's rate base and EPS growth aligned with the state's clean energy goals

    42Edison International | February 2025 Business Update Financial Information AppendixIntroduction Clean Energy Transition LeadershipWildfire Mitigation EIX’s rate base and EPS growth aligned with enabling the state’s clean energy goals 1. Compound annual growth rate (CAGR) based the midpoint of the

  44. Slide 44: Appendix

    APPENDIX INTERNATIONAL

  45. Slide 45: Trio: integrated energy management and sustainability solutions

    44Edison International | February 2025 Business Update AppendixIntroduction Financial InformationClean Energy Transition LeadershipWildfire Mitigation Partners with large commercial, industrial, and institutional organizations to navigate the energy transition by providing integrated energy manageme

  46. Slide 46: SCE continues to fund wildfire claims payments with debt

    45Edison International | February 2025 Business Update AppendixIntroduction Financial InformationClean Energy Transition LeadershipWildfire Mitigation SCE continues to fund wildfire claims payments with debt Series Principal Due Rate 2022C 300 6/1/25 4.200% 2020C 350 2/1/26 1.200% 2024C 600 3/1/26 5

  47. Slide 47: Key 2028 Earnings Sensitivities

    46Edison International | February 2025 Business Update AppendixIntroduction Financial InformationClean Energy Transition LeadershipWildfire Mitigation Key 2028 Earnings Sensitivities Variable Sensitivity 2028 EPS1(“Per year” amounts refer to 2025–2028) Capex & Rate Base Rate Base $100 million/year o

  48. Slide 48: SCE Key Regulatory Proceedings

    47Edison International | February 2025 Business Update AppendixIntroduction Financial InformationClean Energy Transition LeadershipWildfire Mitigation SCE Key Regulatory Proceedings Proceeding Description Next Steps Base Rates 2025 GRC (A.23-05-010) Sets CPUC base revenue requirement for 2025–2028.

  49. Slide 49: Woolsey Cost Recovery Proposed Schedule

    48Edison International | February 2025 Business Update AppendixIntroduction Financial InformationClean Energy Transition LeadershipWildfire Mitigation Woolsey Cost Recovery Proposed Schedule Event Parties’ Proposed Date1  Application Filed October 8, 2024  Protests and responses November 12, 2024

  50. Slide 50: Earnings Per Share Non-GAAP Reconciliations

    49Edison International | February 2025 Business Update AppendixIntroduction Financial InformationClean Energy Transition LeadershipWildfire Mitigation Low High Basic EIX EPS $5.94 $6.34 Total Non-Core Items1 – – Core EIX EPS $5.94 $6.34 1. Non-core items are presented as they are recorded Earnings P

  51. Slide 51: Use of Non-GAAP Financial Measures and IR Contact

    50Edison International | February 2025 Business Update AppendixIntroduction Financial InformationClean Energy Transition LeadershipWildfire Mitigation Use of Non-GAAP Financial Measures EIX Investor Relations Contact Sam Ramraj, Vice President Derek Matsushima, Principal Manager (626) 302-2540 (626)

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