Slide 1: Crane Clean Energy Center – Meeting the Country's Needs for Clean and Reliable Generation
Crane Clean Energy Center – Meeting the Country’s Needs for Clean and Reliable Generation September 20, 2024
Slide 2: Forward-looking statements and non-GAAP financial measures
This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “b
Slide 3: Adding 835 MWs of New Clean, Reliable Nuclear Power to PJM
Constellation has reached a long-term agreement with worldwide sustainability leader, Microsoft, to bring Crane Clean Energy Center online in 2028 Constellation Adding 835 MWs of New Clean, Reliable Nuclear Power to PJM 3 Adds 835 MWs of the most valuable commodity in the world: clean, firm, reliabl
Slide 4: Strategic Planning Achieved a One-Year Head Start
Steam generator, main generator, and main power transformer inspections complete Training and simulator building restoration complete Simulator restoration has commenced Developing restoration plan and detailed schedule Began procurement of main power transformer and critical long-lead mat
Slide 5: Delivering on Our Commitments to Create Shareholder Value
Increases base earnings per share growth rate from at least 10% to at least 13% annually from 2024-2030 Exceeds double-digit unlevered return threshold Approximately $1.6 billion capex will be deployed Paves the way for future strategic partnerships Meets eligibility criteria for 45Y clean energy pr
Slide 6: Approximately $1.8 Billion of Capital Still to be Allocated in 2024-2025
Approximately $1.8 Billion of Capital Still to be Allocated in 2024-2025 6 Note: Items may not sum due to rounding. (1) Beginning Cash Available reflects excess cash balance above minimum targets as of December 31, 2023 (2) Available Cash is a midpoint of a range based on December 31, 2023, market p
Slide 7: NRC Approval and PJM Interconnection Timeline
NRC Approval and PJM Interconnection Timeline 7 Fall 2024 – Fall 2027 Restoration activities, NRC inspections and restart approval Fall 2024 – Fall 2026 NRC review of licensing package to restore operating authority Late Summer 2024 Begin process for NRC approval Dec 2024 Dec 2025 Dec 2026 Dec 2027
Slide 8: Constellation – Our Assets Are Unmatched
Constellation – Our Assets Are Unmatched 8 Visible, Double-Digit Long-Term Base EPS Growth Backed by the Nuclear Production Tax Credit (PTC) Best and Largest Operator of Clean, Long-Lived, 24/7 Nuclear Plants Uniquely Positioned to Support Economic Growth and Electric System Reliability Growing Prod
Slide 9: Appendix Reconciliation of Non-GAAP Measures
Appendix Reconciliation of Non-GAAP Measures 9
Slide 10: Reconciliation of Projected Free Cash Before Growth (FCFbG)
Reconciliation of Projected Free Cash Before Growth (FCFbG) 10 2024 - 2025Projected Free Cash Flow before Growth* ($M) $11,850 - $12,250Adjusted Cash from Operations* (1) ($4,175)Baseline and Nuclear Fuel Capital Expenditures ($550)Reinvestment in Nuclear Decommissioning Trust Funds (2) ($1,400)Coll
Slide 11: Contact Information
11 Contact Information InvestorRelations@constellation.com Links Events and Presentations ESG Resources Reports & SEC Filings Constellation Sustainability Report ESG Investor Presentation Nuclear 101