Slide 1: First Quarter 2003 Earnings Teleconference
Entergy First Quarter 2003 Earnings Teleconference J. Wayne Leonard Chief Executive Officer C. John Wilder Executive Vice President and Chief Financial Officer aes = April 28, 2003 ~~ Enter By
Slide 2: Safe Harbor and Reg G Compliance
Safe Harbor and Reg G Compliance The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: From time to time, Entergy makes statements ccnceming its expectations, beliefs, plans, objectives, goal, strateges, and future events or performance. Such
Slide 3: Quarter Highlights
Quarter Highlights Consolidated EPS Domestic Utility EPS Competitive Businesses EPS Operational Operational Operational — $1.12 $0.80 $0.56 $0.57 EEL a 1002 1003 1002 1003 1902 1003 Page 2 of 12
Slide 4: Quarter Highlights
Quarter Highlights Net Margin - Operational ROIC — Operational 12 Months Ended: % 12 Months Ended; % ee. 7 84 .| 7 ,| 1902 1003 1902 1003 ROE — Operational Net Debt to Net Capital 12 Months Ended; % 12 Months Ended; % 48.7 470 1902 1003 Page 3 of 12
Slide 5: Entergy Achieved Strong First Quarter
Entergy Achieved Strong First Quarter Operational Earnings Earnings Per Share 4st Quarter; 2000 - 2003 1.73 1.12 0.69 0.75 0.80 0.42 0.48 2000 2001 2002 2003 i As-Reported i Operational Page 4 of 12
Slide 6: Special Items
Special Items Earnings Per Share Earnings Per Share 1* Quarter 2002 1 Quarter 2003 1.73 1.12 0.80 0.36 Special items Special items ECS - asset impairments (0.45) Implementation of SFAS 143: ECS - turbine commitment (0.62) at Domestic Utility (0.09) ECS —development costs (0.09) at Entergy Nuclear 0.
Slide 7: All Businesses Contribute to Strong Quarterly Earnings
All Businesses Contribute to Strong Quarterly Earnings Operational Earnings Per Share 1Q02 vs. 1Q03 $0.80 102 $1.12 103 Key Eamings Drivers 1002 vs. 1003 © 2% increase in total retail sales e Lower O&M expense Nuclear @ Increased production e Improved realized MWh prices @ Significantly higher outag
Slide 8: Quarterly Utility Operational Performance Measures
Quarterly Utility Operational Performance Measures Retail Sales Operational Earnings Per Share SWh 1Q02 vs. 1903 23,079 25 522 Total GWh retail sales increased by 2% due to improvement in the 71002 1008 regional economy 0.56 O&M Expense SiMWh Total O&M 0.45 16.79 18.75 expenses decreased; however O&
Slide 9: Quarterly Entergy Nuclear Operational Performance Measures
Quarterly Entergy Nuclear perational Performance Measures = Total Generation Operational Eamings Per Share 1Q02 vs. 1Q03 0.18 0.16 1902 1Q03 GWh 7,509 8,093 | 1902 1903 Realized Price siMWh 37.14 38.28 1902 1003 Production Cost siMWh 23.64 19.62 1002 1903 Output increased due to addition of Vermont
Slide 10: Quarterly Energy Commodity Services
Quarterly Energy Commodity Services Operational Performance Measures Throughput Operational Eamings Per Share “dav 1002 vs. 1903 266 ee Throughput dropped although periods of weather-related high demand occurred 10902 1003 0.41 0.20 Pipeline Cost Sibef $0.113 102 1903 $0.077 Cost per bef increased d
Slide 11: Quarterly Energy Commodity Services
Quarterly Energy Commodity Services Operational Performance Measures (ed Quarter Highlights — Entergy-Koch Trading] Trading Volatility Volumes Traded GasandPower;% gy Befid (gas); TWh (power) 86 79 123 86 39 56 78 1902 1003 1002 1003 1 cas []j Power Average De@r Eamings / Average De@r $M times Page
Slide 12: Financial Flexibility Update
Financial Flexibility Update Operating Cash Flow Electric Deferred Fuel Balance 1Q02 vs. 1003; $M sm 800 700 354 600 2001 500 400 51 1Q02 1903 J oF MAM JJ AS ON D Page 11 of 12
Slide 13: Earnings Guidance Remains Unchanged
Earnings Guidance Remains Unchanged Operational Earnings Per Share Key Guidance Assumptions 2002 vs. 2003 Utility $3.75 - $3.95 e Increased revenues due to $3.60* $03 Ecs rate actions and sales growth @ Higher O&M and depreciation Nuclear @ Increased generation e Decreased O&M expense 2. $2.70. Util
Slide 14: Q&A Session
Q&A Session = Entergy