Dte Energy Company · NYSE:DTE
Dte Energy — EEI Financial Conference 2025
22 slides from Dte Energy's conference presentation, Dec 8, 2025
Slide 1: Business Update
Business Update December 8 - 9, 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: Continuing to deliver exceptional results for our stakeholders; well positioned for long-term growth
Continuing to deliver exceptional results for our stakeholders; well positioned for long-term growth ✓ Highly engaged team committed to delivering best-in-class results for our customers, communities and investors Confident to reach the high end of 6% - 8% operating EPS guidance each year ✓ Well pos
Slide 4: Data center development and investments in reliability and cleaner generation drive a $6.5 billion increase
Data center development and investments in reliability and cleaner generation drive a $6.5 billion increase to our 5-year capital investment plan • DTE Electric investments support data center development, cleaner generation 5-year investment plan transformation and distribution investments focused
Slide 5: DTE Electric: significant investment increase driven by data center transaction
DTE Electric: significant investment increase driven by data center transaction, cleaner generation investments supporting future coal plant retirements and continued hardening of our distribution system • Capital increase of $6 billion from prior plan is primarily driven by data center transaction
Slide 6: Recently executed agreement for ~1.4 GW of new data center load drives growth and customer affordability
Recently executed agreement for ~1.4 GW of new data center load drives growth and customer affordability benefits • Executed agreement with a subsidiary of Oracle Data center drives ~$300 million of annual • ~1.4 GW of demand ramping up over next 2 to 3 years affordability benefits for existing cust
Slide 7: Additional data center opportunities provide upside to long-term plan
Additional data center opportunities provide upside to long-term plan; recent discussions provide confidence in reaching agreement near-term 6 GW pipeline provides additional capital opportunity ~3 GW data center opportunities provide upside to plan • Advanced discussions with multiple hyperscalers
Slide 8: Economic development opportunities combined with continuous improvement sustain affordability track record
Economic development opportunities combined with our continuous improvement culture will sustain our track record of managing customer affordability Top tier affordability Total electric residential bill change % from 2021 to 20251 We continue to prioritize affordability 21.3% 15.8% ✓ Data center lo
Slide 9: 2026 operating EPS early outlook midpoint provides 7% growth over 2025
2026 operating EPS1 early outlook midpoint provides 7% growth over 2025 original guidance midpoint; positioned to achieve high end DTE operating EPS guidance • Our 2026 early outlook provides 6% - 8% growth over our 2025 $7.59 - $7.73 guidance midpoint $7.09 - $7.23 — Confident that we will deliver
Slide 10: 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 equity issuances of $500 - $600 million annually 2026 – 2028,
Slide 11: Investment Thesis: proven execution, strong growth outlook and customer-focused strategy
Investment Thesis: proven execution, strong growth outlook and customer- focused strategy backed by a solid regulatory construct • Met or exceeded operating EPS1 guidance 17 of past 18 years Consistent Financial Results • Strong balance sheet and credit metrics support the execution of our long-term
Slide 12: Appendix
Appendix 12
Slide 13: 2025 operating EPS guidance midpoint provides 7% growth over 2024
2025 operating EPS1 guidance midpoint provides 7% growth over 2024 original guidance midpoint; positioned to achieve high end (millions, except EPS) 2025 guidance DTE Electric $1,205 - $1,225 Higher O&M as we unwind one-time lean operational measures DTE Gas 310 - 320 implemented over the past few y
Slide 14: DTE Gas: replacing aging infrastructure to ensure reliability and safety
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 − Continued progress on main renewal program; renewed ~2,000 miles % $4.5 ~13 since program incept
Slide 15: DTE Vantage: strategic focus on decarbonization solutions for customers
JN DTE Vantage: strategic focus on decarbonization solutions for customers • 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 − Progressing on project to design, bu
Slide 16: Preparing for significant capacity additions as we serve new load and replace retiring plants
We are preparing for significant capacity additions as we serve new load and replace retiring plants 2026 – 2032 generation additions Key drivers of generation development Resource Capacity addition ✓ Data center driven load growth drives ~2.5 GW incremental storage requirement near- Storage term (i
Slide 17: Top tier affordability for our customers over the last 4 years
Top tier affordability for our customers over the last 4 years State comparison – electric residential bill change % from 2021 to 20251 1st quartile 2nd quartile 3rd quartile 4th quartile U.S. average 21.3% Great Lakes average 15.8% 3.0% DTE 1. Source: Energy Information Administration (EIA). Ending
Slide 18: ESG efforts are key priorities; aspiring to be the best in the industry
Environmental, social and governance (ESG) efforts are key priorities; aspiring to be the best in the industry Environment • Transitioning towards net zero1 emissions at both utilities • Accelerating transition to cleaner generation • Protecting our natural resources Social • Focusing on the diversi
Slide 19: 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 20: Weather impact on sales
Weather impact on sales DTE Electric DTE Gas Cooling degree days1 Heating degree days3 % YTD YTD % % YTD YTD % 3Q 2024 3Q 2025 3Q 2024 3Q 2025 Change 2024 2025 Change Change 2024 2025 Change Actuals 619 623 1% 911 875 (4%) Actuals 55 101 84% 3,358 4,150 24% Normal 647 644 0% 900 898 0% Normal 115 10
Slide 21: 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 22: 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