Firstenergy Corp. · NYSE:FE
Firstenergy — Investor Presentation (December 2025)
11 slides from Firstenergy's investor presentation, Dec 9, 2025
Slide 1: 2026 Financial Guidance
2026 Financial Guidance Published December 9, 2025
Slide 2: Forward-Looking Statements
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 subsidi
Slide 3: Non-GAAP Financial Matters
Non-GAAP Financial Matters 3 This presentation contains references to certain financial measures, including Baseline O&M and Core Earnings per share (“Core EPS”) as “non-GAAP financial measures,” which are not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and e
Slide 4: Plan Highlights
2026 Plan Highlights ■ 7.5% increase vs. 2025 Increased Guidance Mid-point of $2.53/sh ■ ~9% increase vs. 2025 Original Guidance Mid-point of $2.50/sh Core EPS1 Guidance of $2.62-$2.82 $6B Customer-Focused Investment Plan Optimized Financing Plan Investment-Grade Credit Profile 60-70% Dividend Payou
Slide 5: Core EPS Guidance: $2.62 - $2.82
2026 Core EPS(1) Guidance: $2.62 - $2.82 5 2025F Increased Core EPS Mid-point Distribution Integrated Stand-Alone Transmission Corp / Other 2026F Core EPS Mid-point $2.72 Rates & Investments O&M Other OpEx Financing Costs Rates & Investments O&M Other OpEx Financing Costs Rates & Investments Financi
Slide 6: $6B 2026 Investment Plan
Distribution, $1.7B, 28% Corp, $0.1B, 2% Integrated, $2.2B, 37% Stand-Alone Transmission, $2.0B, 33% Fossil Generation Infrastructure Renewal Grid Modernization Energy Efficiency Transmission $6B 2026 Investment Plan: $6B 6 ~28% Base Rate Recovery ~72% Formula Rate ~50% State Regulated ~50% FERC Reg
Slide 7: Financing Plan
2026 Financing Plan ■ $2.9B Long-Term Debt issuances; Net long-term debt increase of $2.3B 7 Distribution Segment LT Debt Issuances Redemptions Notes FEPA $850M ($300M) 5.15% matures 3/30/26 CEI $400M - New issuance Sub-Total $1,250M ($300M) $950M net change Integrated Segment LT Debt Issuances Rede
Slide 8: Dividend Overview
Dividend Overview 8 Dividend payments are subject to declaration by the Board of Directors $1.60/sh $1.70/sh $1.78/sh $1.86/sh $2.20/sh $2.37/sh $2.53/sh $2.72/sh 2023A 2024A 2025F 2026F Annual Dividend Core EPS Annual Dividends Per Share (Declared) ■ Provided growth of 4.7% in 2025 – Declared Divid
Slide 9: Key 2026 Regulatory Strategies
Key 2026 Regulatory Strategies Ohio Three-Year Rate Plan WV New Generation Base Rate Case Cadence ■ Expect to file in 1st Quarter 2026 for 2027-2029 period ■ Attractive regulatory framework includes: – Reduced regulatory lag with 3-year forward-looking test year – Line of sight for future earnings w
Slide 10: Shareholder Value Proposition
Shareholder Value Proposition 10 (1) Please see slide 3 for more information. • Targeting ~14% FFO/Debt • Committed to achieving and maintaining BBB credit profile • Focus on Continuous Improvement and managing O&M expenses • Targeting Consolidated ROEs of 9.5%-10% • Attractive total return opportun
Slide 11: Long-Term Plan Update
Long-Term Plan Update Reaffirming 6-8% Core EPS CAGR (2025-2029), guiding to upper half of the range Includes planned increase in total transmission investments of 30% in next 5-year plan(1) 2026 Financial Guidance - Published December 9, 202511 Diversified service territory Strong balance sheet Sol