Dominion Energy, Inc. · NYSE:D
Dominion Energy — Q4 2025 Earnings Presentation
83 slides from Dominion Energy's earnings presentation, Feb 23, 2026
Slide 1: Q4 2025 earnings call
Q4 2025 earnings call February 23, 2026
Slide 2: Important note for investors
Important note for investors This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Dominion Energy. The statements relate to, among other things, expectations, estimates and projections concerning the busine
Slide 3: Important note for investors, cont.
Important note for investors, cont. This presentation includes certain financial measures that have not been prepared in accordance with GAAP. A listing of such non-GAAP measures with their GAAP equivalents are as follows: • Operating earnings per share (non-GAAP) which has a GAAP equivalent of repo
Slide 4: CFO remarks
CFO remarks 4
Slide 5: 2025 financial results
Dominion Energy 2025 financial results Operating earnings per share and credit Metric (Non-GAAP¹) Amount Commentary Above guidance midpoint of $3.40 FY 2025: Actual ($ per share) $3.42 Reflects $0.09 of RNG 45Z income and normal weather for FY 2025 Above guidance midpoint of $3.30 FY 2025: Actual ($
Slide 6: 2026 financial guidance
Dominion Energy 2026 financial guidance Operating earnings per share, credit and dividend guidance Metric (Non-GAAP) Amount Commentary $3.50 (midpoint) ~6.1% growth vs. 2025 guidance midpoint Operating earnings ($ per share) (excluding RNG 45Z) $3.40—$3.60 (range) ($3.30) despite Millstone double ou
Slide 7: Robust electric demand driving significant regulated investment
Dominion Energy Robust electric demand driving significant regulated investment PJM DOM Zone summer peak average annual load growth rates ▪ Real-time evidence of sustained, high-quality demand growth 2026 summer peak CAGRs ▪ 2025 year-over-year DEV LSE weather-normal sales growth of 5.4% 10-year 5.4
Slide 8: Five-year capital summary (updated)
Dominion Energy Five-year capital summary (updated) Dominion Energy Dominion Energy Contracted Energy Corporate & Other Total4 Virginia¹ South Carolina 2026—2030 capital plan ($B) $54.8 $7.6 $1.7 $0.6 $64.7 (previous 5-year plan: $50.1) ▪ Economic growth ▪ Economic growth ▪ Millstone ▪ Information ▪
Slide 9: Diversified capital plan 2026—2030: ~$65 billion (updated)
Dominion Energy Diversified capital plan 2026—2030: ~$65 billion (updated) Significant investments in reliability with strong cash conversion given rider-eligible capital Investments support Dominion Energy’s all-of-the-above energy supply strategy Offshore wind: <2% Nuclear SLR/other: 7% Solar + st
Slide 10: Preliminary sources and uses (updated)
Dominion Energy Preliminary sources and uses (updated) Cumulative: 2026—2030 ($B)¹ ($12.6) $70.1 $20.4 $7.1 $8.8 $46.4 ▪ DRIP: ~$150M/year ▪ 2026 ATM: $1.6—$1.8B, including $1.0B previously issued under forward settlement agreements Operating Cash Flow (+) Common Equity (+) hybrid, net ² (+) other f
Slide 11: Credit guidance (no change)
Dominion Energy Credit guidance (no change) Commitment to our improved, robust and sustainable credit profile Metric (Non-GAAP) Expectation (annually) through 2030 Parent debt ratio¹ Less than 30% FFO to debt² ~15% CFO pre-WC to debt (Moody’s) 50—100bps cushion to 14% downgrade threshold FFO to debt
Slide 12: Long-term operating earnings per share growth rate guidance (updated)
Dominion Energy Long-term operating earnings per share growth rate guidance (updated) 5%—7% growth rate off 2025 operating EPS midpoint ($3.30) through 2030— Bias to upper half 2028 through 2030 Long-term growth rate (excludes RNG 45Z) 5%—7% CAGR ~6% CAGR 6.1% YoY Bias to upper half of 5%—7% $3.50 g
Slide 13: CEO remarks
CEO remarks 13
Slide 14: Safety is our first core value
Dominion Energy Safety is our first core value OSHA recordable incident rate¹ 86% 1.90 below average 0.96 2025 LD/RD3 rate: 0.13 0.52 0.45 0.42 0.26 2006-2021 average 2022 2023 2024 2025 Industry average² 2025 record-setting safety performance as measured by both OSHA and LD/RD rates ¹ Number of rec
Slide 15: Coastal Virginia Offshore Wind (CVOW) project update
Dominion Energy Coastal Virginia Offshore Wind (CVOW) project update (no change to January 30 update) ▪ First delivery of electricity: Q1 2026 (no change) Timing ▪ Full project completion: Early 2027 (no change) ▪ Current capital budget: $11.5B (reflects $580M of actual/estimated tariffs and $228M a
Slide 16: Affordability: Typical residential electric customer bills
Dominion Energy Affordability: Typical residential electric customer bills Current rates (cents per kWh)¹ Projected customer bill CAGRs² (4%) (12%) 17.8 6.3% 17.1 15.7 2.6% 2.8% CAGR CAGR 2025—2045 2025—2039 U.S. average Dominion Energy Dominion Energy CPI: Electricity Dominion Energy Dominion Energ
Slide 17: Affordability: Strong track-record as measured by wallet
Dominion Energy Affordability: Strong track-record as measured by “wallet”¹ Dominion Energy’s affordability relative to national utility averages Dominion Energy Virginia Dominion Energy South Carolina U.S. average (7%) (29%) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 DEV’s and DESC’s af
Slide 18: Affordability: Best-in-class O&M control
Dominion Energy Affordability: Best-in-class O&M control (electric non-fuel O&M per sales $/MWh) $200 Top quartile D¹ Peer² $/MWh Electric non-fuel O&M Lower is better $0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 D Ranking: 2nd 2nd 1st 2nd 2nd 2nd 2nd 2nd 2nd 2nd Note: Source of data is FERC
Slide 19: Differentiated data center contracted capacity
Dominion Energy Virginia Differentiated data center contracted capacity: Scaled + accelerating, high quality, low risk ~47.1 GW ~48.5 GW ~1.4GW/3% vs. September 2025 data center contracted capacity Substation Engineering Letter of Authorization (SELOA) SELOA: SELOA: ▪ Detailed engineering plan 28.2
Slide 20: Differentiated data center contracted capacity: customer quality
Dominion Energy Virginia Differentiated data center contracted capacity: Scaled + accelerating, high quality, low risk Length of relationship¹ Customer credit rating¹ Select hyperscaler/data center customers Market cap³ 21 - 30 years $3.7 T 0 - 5 years Other² Aaa - Aa3 3% $2.2 T 11% 18% 19% 6 - 10 y
Slide 21: Differentiated data center contracted capacity: forecast demand
Dominion Energy Virginia Differentiated data center contracted capacity: Scaled + accelerating, high quality, low risk 25,000 Existing ESAs + CLOAs exceed forecasted demand through 2045… CLOA 20,000 Existing ESAs fulfill projected demand Coincident Demand (MW) growth through 2036... 15,000 10,000 ES
Slide 22: History of low residential electric rates during data center growth
Dominion Energy Virginia History of low residential electric rates during periods of data center growth DEV data center sales (M-MWh) DEV residential customer rates relative to U.S. average rate¹ U.S. average (10%) 27.8 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 DEV rates have averaged 9% bel
Slide 23: Selected business updates
Dominion Energy Selected business updates ✓ Final order published in 2025 VA Biennial; approved GS-5 high energy user class ▪ GS-5 class designed to ensure continued fair allocation of costs and to mitigate risk of stranded assets ✓ VA SCC approved CPCN and rider for CERC facility DEV ▪ ~1 GW gas-fi
Slide 24: Summary
Dominion Energy Summary ✓ Record setting OSHA and LD/RD safety performance in 2025 ✓ 2025 operating earnings above the midpoint of guidance + strong credit results ✓ Initiated 2026 operating earnings guidance range consistent with prior guidance ✓ Reaffirmed existing long-term operating earnings per
Slide 25: Appendix
Appendix 25
Slide 26: Positioned to provide long-term value for shareholders, customers & employees
Dominion Energy Positioned to provide compelling long-term value for shareholders, customers & employees Strategic and financial profile Strategic and financial metrics ▪ Simple strategy: Operate exceptional utilities in the Southeast U.S. ― Reliable and affordable service 5%—7% Annual operating ― S
Slide 27: Diversified and robust rate base growth
Diversified and robust rate base growth Consolidated 5-year capital plan By function Total investment base³ ($B) 14% 2% Other¹ Offshore 25% Electric 3% wind Storage transmission $108 3% 14% Nuclear² DESC $99 4% Nuclear ~$65B $88 relicensing $80 2026E—2030E 82% DEV $73 10% Solar 20% Electric distribu
Slide 28: Diversified capital investment supports all-of-the-above energy supply strategy
Dominion Energy Diversified capital investment supports all-of-the-above energy supply strategy % of 5-year capital plan¹ Project type Segment Recovery COD Commentary 23% Electric transmission DEV Rider Variable Incl. Valley Link joint venture 18% Electric distribution DEV Rider/base Variable Suppor
Slide 29: Premier state-regulated utility profile
Premier state-regulated utility profile Business mix Average annual earnings contribution: 2026—2030¹ Millstone PPA / ~99% hedged / capacity State-regulated utility operations Other² ~4% 1% + Millstone PPA/hedged/capacity DESC 15% ~95% State-regulated utility operations (VA, NC, SC) DEV 80% “Pure pl
Slide 30: Regulated electric sales growth
Regulated electric sales growth DEV and DESC combined 2025 weather normal sales growth¹ Regulated electric sales trends % of 33% 47% 9% 11% regulated sales ✓ Robust commercial load growth driven by Data Residential Commercial Industrial Govt/Other Total Centers 8.1% ✓ Attractive customer growth acro
Slide 31: Customers
Customers State-regulated utilities Segment summary Q4 2025 State summary Three months ended Average customers December 31 Q4 2025 (M) DE ‘23-’25 CAGR South Carolina 1.3M DE Virginia 1.0% 2.8 32% DE South Carolina 2.4% 1.3 Electric 1.9% 0.8 4.1M State utility Gas 3.3% 0.5 customers Total utility cus
Slide 32: Weather degree days
Weather Degree days Quarter ended 12/31 Twelve months ended 12/31 2025 2024 2025 2024 Actual 1,390 1,131 3,508 2,969 Heating Normal 1,238 1,255 3,387 3,462 Dominion Energy Virginia Actual 22 71 1,720 1,928 Cooling Electric Normal 64 60 1,866 1,811 Actual 535 438 1,388 1,078 Heating Dominion Energy S
Slide 33: Weather after-tax impacts
Weather After-tax impacts ($M) Q1 Q2 Q3 Q4 2025 YTD Dominion Energy Virginia2 $13 $4 ($34) $6 ($11) Versus normal¹ Dominion Energy South 15 6 (14) 2 9 Carolina3 Total $28 $10 ($48) $8 ($2) Q1 Q2 Q3 Q4 2025 YTD $54 ($12) ($40) $16 $18 Versus prior year¹ Dominion Energy Virginia2 Dominion Energy South
Slide 34: Financial guidance supplement
Financial guidance supplement •1 Consolidated guidance •2 Dominion Energy Virginia •3 Dominion Energy South Carolina •4 Contracted Energy •5 Corporate and Other •6 Fixed income 34
Slide 35: Consolidated guidance
1 Consolidated guidance 35
Slide 36: Consolidated guidance
1 Consolidated guidance Operating earnings per share (non-GAAP) 2026 Operating EPS guidance range Dominion Energy Virginia $3.01—$3.12 Dominion Energy South Carolina $0.56—$0.59 Contracted Energy $0.27—$0.30 Corporate and Other & Elims¹ ($0.44)—($0.41) $3.40—$3.60 Operating EPS guidance range (exclu
Slide 37: 2026 operating earnings per share drivers
1 Consolidated guidance 2026 operating earnings per share (excluding RNG 45Z) Q1 drivers (YoY) FY 2026 drivers (YoY) ▲ Regulated investment ▲ Regulated investment ▲ Electric rate cases ▲ Electric rate cases ▲ Sales ▲ Sales ▲ Charybdis ▲ Charybdis ▼ Return to normal weather ▲ Other ▼ Financing costs
Slide 38: Five-year capital summary
1 Consolidated guidance Five-year capital summary $B 2026E 2027E 2028E 2029E 2030E Total Dominion Energy Virginia $9.0 $9.1 $10.5 $13.6 $12.6 $54.8 Dominion Energy South Carolina 1.5 1.6 1.7 1.5 1.4 7.6 Contracted Energy 0.4 0.4 0.3 0.3 0.3 1.7 Corporate and Other 0.1 0.1 0.1 0.1 0.1 0.6 Total $10.9
Slide 39: Key assumptions
1 Consolidated guidance Key assumptions Driver 2026E assumption Long-term assumption Weather 15-year normal 15-year normal Consolidated operating earnings effective tax rate¹ 15.5%—17.5% 14.0%—17.0%² W/N annual retail electric sales growth rate – DEV 2.5%—3.5% 3.5%—4.5% W/N annual retail electric sa
Slide 40: Tax credits
1 Consolidated guidance Tax credits Cash generation by type ($M)¹ Asset Credit type Segment 2026E 2027E 2028E 2029E 2030E DEV regulated PTC DEV $68 $154 $162 $173 $249 DEV regulated ITC DEV 99 10 97 — — RNG PTC CE 45—81 45—81 44—80 44—80 — Solar PTC CE 17 18 18 18 18 Other ITC/PTC CE 5 6 7 8 8 Total
Slide 41: Operating EPS impact for change in key inputs
1 Consolidated guidance Operating EPS impact for change in key financial plan inputs Driver Change 2026E operating EPS impact DEV: Electric load - residential +/- 1% +/- $0.019 DEV: Electric load - commercial +/- 1% +/- $0.016 DEV: Electric load - industrial +/- 1% +/- $0.002 DEV: Electric load - go
Slide 42: Operating EPS impact for change in key inputs
1 Consolidated guidance Operating EPS impact for change in key financial plan inputs Driver Change 2026E operating EPS impact RNG: LCFS, RIN and biogas prices +/- 10% +/- $0.006 Open market Millstone prices +/- 10% +/- $0.002 DEV earned ROE (Base) +/- 25bps +/- $0.027 DESC earned ROE +/- 25bps +/- $
Slide 43: Dominion Energy Virginia
2 Dominion Energy Virginia 43
Slide 44: Dominion Energy Virginia Overview
2 Dominion Energy Virginia Overview Electric service area Key stats Electric utility customers 2.8M Owned generation (MW)¹ 19,100 Distribution miles 61,000 Transmission miles 7,000 2026-2030 capital plan ($B)² $54.8 2025 utility rate base ($B) $48.2 2026-2030 utility rate base CAGR³ 11.9% Weighted a
Slide 45: 5-year capital summary
2 Dominion Energy Virginia 5-year capital summary $B Program 2026E 2027E 2028E 2029E 2030E Total Electric transmission $2.5 $2.6 $2.9 $2.9 $3.0 $13.9 Electric transmission JV 0.0 0.2 0.4 0.4 0.0 1.0 Solar/storage/OSW 2.1 1.1 1.1 2.9 2.7 10.0 New gas generation 0.7 1.2 2.0 3.0 2.5 9.5 Electric distri
Slide 46: Regulatory summary
2 Dominion Energy Virginia Regulatory summary (as of December 31, 2025) Electric Dominion VA base Transmission VA riders Energy North Other Total rider Carolina Rate base ($B) ~14.7¹ ~13.5² ~15.3³ ~1.84 ~$2.95 $48.2 Common equity 52.035%7 54.5%8 52.035%7 52.5%9 N/A 52.8% Allowed ROE 9.80%6 11.40%10
Slide 47: Rate base
2 Dominion Energy Virginia Rate base Illustrative rate base ($B) 2025 2026E 2027E 2028E 2029E 2030E Virginia base¹ $14.7 $15.5 $16.3 $17.7 $19.1 $20.6 Electric transmission rider² 13.5 15.4 17.3 19.4 21.6 23.7 Electric transmission JV 0.0 0.0 0.3 0.6 1.0 1.0 Virginia riders³ 15.3 19.0 21.4 24.5 30.3
Slide 48: Biennial review summary
2 Dominion Energy Virginia Biennial review summary Third biennial Fourth biennial Fifth biennial Initial filing March 2027 March 2029 March 2031 Final order Late 2027 Late 2029 Late 2031 Investment under review “Base” only — Rider investment outside scope Years reviewed 2025—2026 2027—2028 2029—2030
Slide 49: Data center markets
2 Dominion Energy Virginia Data center markets Top North American markets (MW capacity) 8,315 4,120 3,541 2,423 2,070 1,700 1,653 1,378 1,223 1,162 Virginia¹ Pacific Columbus Dallas-Ft. Atlanta Austin/San Phoenix Omaha Chicago No. Indiana Northwest Worth Antonio Virginia is home to the largest data
Slide 50: Large load provisions
2 Dominion Energy Virginia Large load provisions Criteria Existing customers (executed ESAs) New customers post Jan. 1, 2027 (new ESAs)¹ ▪ All existing and new customers with: New GS-5 rate class ▪ Measured or contracted demand of 25 MW or greater on contiguous sites, and ▪ A measured or expected lo
Slide 51: Data center request process
2 Dominion Energy Virginia Data center request process Typical data center request process from contact to connection 1 1 High level 2 Substation 3 Construction 4 Install 5 Electric Service assessment 2 Engineering Letter of infrastructure Agreement Letter of Authorization Authorization ▪ Identify i
Slide 52: DOM Zone data center construction delivery point requests
2 Dominion Energy Virginia DOM Zone data center construction delivery point requests Annual number of requests Annual capacity requested (GW) Total: 409 since 2020 120 118 Total: ~67 GW since 2020 30.0 26.0 100 25.0 80 73 76 74 20.0 15.5 60 15.0 47 10.8 40 10.0 7.6 21 4.6 20 5.0 2.9 0 0.0 2020 2021
Slide 53: Northern Virginia leads the world in data center markets
2 Dominion Energy Virginia Northern Virginia leads the world in data center markets ▪ Connected 11 new data centers in 2025 and expect to connect another 13 data centers in 2026 (updated) ▪ Since 2013, averaged ~15 data center connections per year Data center annual connects Data center capacity add
Slide 54: Ringfenced solar
2 Dominion Energy Virginia Ringfenced solar Business summary ▪ Included in DEV reporting segment ▪ Represents solar investments not included in DEV’s utility rate base summary ▪ 17 projects representing 0.9 GW ▪ Weighted average remaining PPA life: ~14 years Financial summary 2026E 2027E 2028E 2029E
Slide 55: Well-aligned with focus on American energy dominance
2 Coastal Virginia Offshore Wind (CVOW) Well-aligned with focus on American energy dominance ▪ The Coastal Virginia Offshore Wind project: ✓ On track for first delivery of electricity (Q1 2026) and expect full project completion in early 2027¹ ✓ Represents the fastest and most economical way to deli
Slide 56: Tariff impacts
2 Coastal Virginia Offshore Wind (CVOW) Tariff impacts (no change to January 30 update) Overview ▪ Current tariff rates (as of January 30, 2026) = Updated project cost ― Mexico: 30% and Canada: 35% (no stacking of tariff if already subject to steel tariff) included in SCC filing ― Steel: 50% (materi
Slide 57: Robust cost sharing mechanisms protect customers, preserve affordability
2 Coastal Virginia Offshore Wind (CVOW) Robust cost sharing mechanisms protect customers, preserve affordability (no change) ▪ December 2022 comprehensive settlement, approved by State Corporation Commission, provides significant customer protections ✓ 50% of project costs between $10.3B and $11.3B
Slide 58: Customer cost sharing overview
2 Coastal Virginia Offshore Wind (CVOW) Customer cost sharing overview Approved settlement in Virginia for balanced and reasonable cost-sharing Cost-sharing thresholds Customers Shareholders Capital budget of ~$9.8B 100% 0% Costs between $9.8B – $10.3B 100% 0% DEV, OAG, Walmart, Sierra Club, and App
Slide 59: Stonepeak partnership cost sharing overview
2 Coastal Virginia Offshore Wind (CVOW) Stonepeak partnership cost sharing overview Equity partnership pro rata cost and risk sharing at illustrative project cost levels Construction Regulatory CVOW partnership DEV funding of DEV ownership of Stonepeak funding Stonepeak ownership budget recovery¹ ca
Slide 60: Dominion Energy South Carolina
3 Dominion Energy South Carolina 60
Slide 61: Dominion Energy South Carolina Overview
3 Dominion Energy South Carolina Overview Electric and gas service areas Key stats Electric utility customers 0.8M Gas distribution utility customers 0.5M Owned generation (MW)¹ 5,680 Electric distribution miles 19,400 Electric transmission miles 3,800 Gas distribution pipeline miles 20,000 2026-203
Slide 62: 5-year capital summary
3 Dominion Energy South Carolina 5-year capital summary $B Program 2026E 2027E 2028E 2029E 2030E Total New gas generation $0.3 $0.5 $0.5 $0.4 $0.4 $2.1 Electric distribution 0.3 0.3 0.3 0.3 0.3 1.4 Electric transmission 0.3 0.3 0.2 0.2 0.2 1.2 Gas distribution 0.2 0.2 0.2 0.2 0.2 1.0 Nuclear 0.0 0.1
Slide 63: Regulatory summary
3 Dominion Energy South Carolina Regulatory summary (as of December 31, 2025) Electric Gas Capital Cost Rider (CCR) Total Rate base ($B) $8.9¹ $1.4³ $1.1 $11.4 Common equity 52.51%² 53.0%³ 52.8% 52.5% Allowed ROE 9.94%² 9.49%³ 9.9% 9.9% ¹ Estimated 2024 end of period electric rate base including Gen
Slide 64: Rate base
3 Dominion Energy South Carolina Rate base Illustrative rate base ($B) 2025 2026E 2027E 2028E 2029E 2030E Electric $8.9 $9.8 $10.7 $11.7 $12.5 $13.2 Gas 1.4 1.5 1.7 1.8 2.0 2.1 Capital Cost Rider 1.1 1.0 0.9 0.9 0.8 0.7 Total $11.4 $12.3 $13.3 $14.4 $15.2 $16.0 Note: Excludes deferred fuel; figures
Slide 65: Capital Cost Rider (CCR)
3 Dominion Energy South Carolina Capital Cost Rider (CCR) The capital cost rider was approved under terms of the South Carolina PSC merger approval in late 2018 ▪ Allows recovery of and return on ~$2.8B of New Nuclear Development costs ▪ Disallowed recovery/permanently impaired the other ~$2B of suc
Slide 66: Contracted Energy
4 Contracted Energy 66
Slide 67: Contracted Energy Overview
4 Contracted Energy Overview % of CE Asset earnings¹ Commentary CE earnings profile: Risk reduction ▪ Significantly de-risked—% Millstone total revenue de-risked:² 2026E 2027E 2028E 2029E Millstone ~81% 100% 100% 86% 55% ▪ ~9M MWh (~55% of annual output) fixed price contracted to 2029 ▪ Residual out
Slide 68: 5-year capital summary
4 Contracted Energy 5-year capital summary $B Asset 2026E 2027E 2028E 2029E 2030E Total Millstone Nuclear Power Station $0.3 $0.4 $0.2 $0.3 $0.3 $1.5 RNG 0.0 0.0 0.0 0.0 0.0 0.1 Solar 0.0 0.0 0.0 0.0 0.0 0.1 Total $0.4 $0.4 $0.3 $0.3 $0.3 $1.7 Note: Figures may not sum due to rounding 68
Slide 69: Millstone
4 Contracted Energy Millstone Assumptions 2026E¹ 2027E 2028E 2029E¹,² 2030E Long-term contracted volume (GWh) 8,683 8,685 8,744 6,902 – Long-term contracted price ($/MWh) $49.99 $49.99 $49.99 $49.99 – Hedged volume (GWh) 6,781 7,701 6,456 3,197 350 Weighted average hedge price ($/MWh) $64.87 $61.25
Slide 70: Solar
4 Contracted Energy Solar Business summary ▪ 33 projects representing ~1.3 GW ▪ Weighted average remaining PPA life: ~11 years Financial summary 2026E 2027E 2028E 2029E 2030E Total generation (TWh) 2.5 2.5 2.5 2.5 2.5 EBITDA ($M) $58 $58 $58 $59 $59 Capital expenditures ($M) $37 $20 $19 $19 $11 70
Slide 71: RNG
4 Contracted Energy RNG Business summary ▪ All projects placed in-service as of year end 2025 ▪ Cumulative capital expenditures of $1.8B through 2025 Financial summary (excludes impact of RNG 45Z and ITC tax credits) 2026E 2027E 2028E 2029E 2030E EBITDA ($M) ($49) $7 $15 $43 $54 Volume (Bcf) 2.5 2.5
Slide 72: Charybdis
4 Contracted Energy Charybdis Business summary Installing first turbine at CVOW (January 2026) ▪ Vessel currently installing wind turbine generators at CVOW ▪ Financing commitments totaling $715M funded project costs ▪ Recorded $214M right-of-use asset and lease obligation¹ ▪ Under lease with CVOW f
Slide 73: Corporate and Other
5 Corporate and Other 73
Slide 74: Corporate and Other Overview
5 Corporate and Other Overview Overview Financial summary ▪ Operating earnings for corporate and other After-tax ($M, except per share amounts) 2025A includes items not attributable to Dominion Energy’s primary operating segments, DEV, DESC, Interest expense, net ($519) and Contracted Energy Equity
Slide 75: Fixed income
6 Fixed income 75
Slide 76: Parent debt
6 Fixed income Parent debt Non-GAAP measures of total adjusted debt, parent debt and parent debt ratio ($B) 2025A Total adjusted debt (non-GAAP)¹ $45.4 Less: DEV total adjusted debt¹ (23.9) Less: DESC total adjusted debt¹ (5.7) Less: Allocated debt to unlevered operating assets² (2.5) Parent debt (n
Slide 77: Credit ratings as of December 31, 2025
6 Fixed income Credit ratings as of December 31, 2025 Dominion Energy, Inc. Moody’s S&P Fitch Corporate/Issuer Baa2 BBB+ BBB+ Senior Unsecured Debt Securities Baa2 BBB. BBB+ Junior Subordinated Notes Baa3 BBB- BBB- Preferred Stock Ba1 BBB- BBB- Short-Term/Commercial Paper P-2 A-2 F2 Outlook Negative
Slide 78: 2026 capital raising activities
6 2026 capital raising activities Expected fixed income activities¹ ($B) Issuance range Dominion Energy Virginia $3.5—$4.5 Dominion Energy South Carolina 0.0—0.5 DEI hybrid 1.5—2.5 DEI other fixed income 1.0—2.0 Consolidated $6.0—$9.5 Common equity activities² ($B) Guidance Issued YTD Remaining 2026
Slide 79: Preliminary and unaudited schedule of long-term debt
6 Fixed income Preliminary and unaudited schedule of long-term debt as of December 31, 2025 ($M) Segment Financing Entity Description Maturity Weighted Avg. Coupon Current portion Long-term DE Virginia VEPCO Unsecured Senior Notes, fixed rates 2026-2055 4.53% $1,150 $20,235 DE Virginia VEPCO Tax-Exe
Slide 80: Schedule of debt maturities as of December 31, 2025
6 Fixed income Schedule of debt maturities as of December 31, 2025 ($M) Financing Segment Due Date Entity DE Virginia DE SC Con Energy Corp & Other Total 2026 3.15% 2016 Series A Senior Notes 01/15/26 VEPCO 750 - - - 750 1.45% 2021 Series A Senior Notes 04/15/26 DEI - - - 564 564 2.85% 2016 Series D
Slide 81: Schedule of debt maturities as of December 31, 2025
6 Fixed income Schedule of debt maturities as of December 31, 2025 ($M) Financing Segment Due Date Entity DE Virginia DE SC Con Energy Corp & Other Total 2028 4.00% 2013 Series SC JEDA Industrial Revenue Bonds 02/01/28 DESC - 39 - - 39 3.80% 2018 Series A Senior Notes 04/01/28 VEPCO 700 - - - 700 4.
Slide 82: Hybrid overview as of December 31, 2025
6 Fixed income Hybrid overview as of December 31, 2025 Preferred stock Rating agency Series and link to term Outstanding Dividend Issued Maturity equity credit Structure Optional 100% redemption dates sheet ($M) rate¹ treatment Series C preferred stock 12/9/2021 Perpetual $1,000 4.350% 50% PerpNC5 1
Slide 83: Company-modeled FFO to debt
6 Fixed income Company-modeled FFO to debt Net cash provided by operating activities (+/-) Changes in working capital¹ (+) Interest expense on junior subordinated notes x 50% Numerator (-) Imputed interest expense on 50% of dividends from preferred stock units (-) CVOW noncontrolling interest (+) Ot