Dte Energy Company · NYSE:DTE
Dte Energy — AGA Financial Forum 2025
23 slides from Dte Energy's conference presentation, May 18, 2025
Slide 1: AGA Financial Forum
AGA Financial Forum May 18 - 20, 2025
Slide 2: Safe harbor statement
Safe harbor statement The information contained herein is as of the date of this document. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this document as a result of new information or future events or developments. Words such as “anticipa
Slide 3: Highly engaged team committed to delivering best-in-class results for our stakeholders
Highly engaged team committed to delivering best-in-class results for our stakeholders Continuing best-in-class engagement, health and safety of our employees ✓ Received Gallup Exceptional Workplace Award for 13th consecutive year Addressing our customers’ most vital needs ✓ Progressing on our goal
Slide 4: Increased customer-focused utility investment, combined with a shift to more utility-like investments at DTE Vantage
Increased customer-focused utility investment, combined with a shift to more utility-like investments at DTE Vantage, provides higher quality 6% - 8% long-term operating EPS1 growth • Increased generation and reliability investment over the next 5 years drives 5-year investment plan (billions) $5 bi
Slide 5: Economic development fuels Michigan’s growth
Economic development fuels Michigan’s growth • Significant investment in Michigan, supporting thousands of jobs — General Motors investment to convert an assembly plant to produce full-size electric pickup trucks — Henry Ford Health, Detroit Pistons and Michigan State University investment in Detroi
Slide 6: DTE Electric: executing on our customer-focused investment plan in reliability and cleaner generation
DTE Electric: executing on our customer-focused investment plan in reliability and cleaner generation DTE Electric investment (billions) • Increasing efforts to improve reliability in 2025 following significant progress in 2024 $24 20% — Enhancing grid automation by installing 600 smart grid devices
Slide 7: Renewable investments support voluntary program and legislated clean energy plan
Renewable investments support voluntary program and legislated clean energy plan with potential upside from data centers • Robust renewable energy development supported by strong land positions and positive community relationships — Reached settlement agreement for 2024 Renewable Energy Plan (REP) f
Slide 8: DTE Gas: replacing aging infrastructure to ensure reliability and safety for our customers
DTE Gas: replacing aging infrastructure to ensure reliability and safety for our customers DTE Gas investment (billions) • Continuing to improve customer service excellence and progress on main renewal − Ranked #1 in customer satisfaction for business natural gas service in the 8% $4.0 Midwest by J.
Slide 9: DTE Vantage: shifting strategic focus to more utility-like projects
DTE Vantage: shifting strategic focus to more utility-like projects supports consistent long-term earnings growth • Progressing on project development − Continuing construction on the long-term, fixed-fee custom energy solutions project with Ford Motor Company; expecting commercial operation in 2026
Slide 10: 2025 operating EPS guidance midpoint provides 7% growth over 2024 original guidance midpoint
2025 operating EPS1 guidance midpoint provides 7% growth over 2024 original guidance midpoint; positioned to achieve high end (millions, except EPS) 2025 operating earnings DTE Electric $1,205 - $1,225 • Utility growth driven by customer-focused investment supporting building the grid of the future
Slide 11: Cash flow and capital expenditures guidance
Cash flow and capital expenditures guidance Cash flow Capital expenditures (billions) (millions) 2025 2025 guidance guidance Cash from operations1 $3.3 DTE Electric Capital expenditures (4.9) Base infrastructure $765 Free cash flow ($1.6) Cleaner generation 1,450 Dividends (0.9) Distribution infrast
Slide 12: Maintaining strong cash flows, balance sheet and credit profile
Maintaining strong cash flows, balance sheet and credit profile Strong balance sheet supports robust customer-focused investment agenda • Customer-focused capital investment plan is supported by consistent, healthy cash flows • Targeting minimal equity issuances of $0 - $100 million annually through
Slide 13: Appendix
Appendix 13
Slide 14: Weather impact on sales
Weather impact on sales DTE Electric DTE Gas Cooling degree days1 Heating degree days3 % % 1Q 2024 1Q 2025 1Q 2024 1Q 2025 Change Change Actuals - - 0% Actuals 2,743 3,213 17% Normal - - 0% Normal 3,236 3,153 (3%) Deviation Deviation 0% 0% (15%) 2% from normal from normal Operating earnings2 impact
Slide 15: Top tier affordability for our customers over the last 3 years
Top tier affordability for our customers over the last 3 years State comparison – electric residential bill change % from 2021 to 20241 1st quartile 2nd quartile 3rd quartile 4th quartile U.S. average 17.9% Great Lakes average 11.9% 2.4% DTE 1. Source: Energy Information Administration (EIA). DTE El
Slide 16: Environmental, social and governance (ESG) efforts are key priorities
Environmental, social and governance (ESG) efforts are key priorities; aspiring to be the best in the industry Environment Award-winning commitment to ESG priorities • Transitioning towards net zero1 emissions at both utilities • Accelerating transition to cleaner generation • Protecting our natural
Slide 17: 2023 IRP settlement outlines accelerated path to cleaner energy
2023 IRP settlement outlines accelerated path to cleaner energy Generation mix1 (MWh %) 1% Transforming generation to cleaner energy 3% 2% 22% • Adding over 15,000 MW of wind and solar by 2042 17% 32% 42% 4% • Adding over 1,800 MW of energy storage by 2042 62% 6% • Ceasing coal use at one Belle Rive
Slide 18: Energy policy drives Michigan’s clean energy future and supports our cleaner energy journey
Energy policy drives Michigan’s clean energy future and supports our cleaner energy journey • Accelerates the pace of decarbonization and deployment of renewables − Renewable compliance standard of 50% by 2030 and 60% by 2035 − Clean energy standard of 80% by 2035 and 100% by 2040 − Allows MPSC to a
Slide 19: Voluntary renewable programs empower customers to manage their carbon footprint
Voluntary renewable programs empower customers to manage their carbon footprint DTE Electric MIGreenPower program DTE Gas Natural Gas Balance program • Allows customers to attribute up to 100% of electricity • Affordable way to address up to 100% of carbon use to renewable sources emissions from nat
Slide 20: Investing in Michigan businesses, creating thousands of jobs and supporting supplier diversity
Investing in Michigan businesses, creating thousands of jobs and supporting supplier diversity 2024 Michigan spend (millions) $3.3b invested with Michigan businesses in 2024 $955m invested with Detroit suppliers in 2024 $31 invested with certified suppliers owned by women, minorities, $1.0b veterans
Slide 21: Committed to Diversity, Equity and Inclusion (DEI); creating a safe and welcoming environment
Committed to Diversity, Equity and Inclusion (DEI); creating a safe and welcoming environment Employee groups create an inclusive environment where differences are celebrated and a sense of belonging exists for all employees Health and safety of our people is a priority • Multiple safety committees
Slide 22: Governance framework provides shareholder rights and enables sustainable value creation
Governance framework provides shareholder rights and enables sustainable value creation Composition of DTE Board of Directors Best-in-class governance practices • Lead Independent Director 1 7 • All board committees are composed exclusively of 42% independent Directors 92% gender or independent ethn
Slide 23: Reconciliation of reported to operating earnings (non-GAAP)
Reconciliation of reported to operating earnings (non-GAAP) Use of Operating Earnings Information – Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. DTE Energy management believes that operating earnings provide a meaningful representati