Exelon Corporation · NASDAQ:EXC

Exelon — Non-Deal Roadshow (November 2024)

66 slides from Exelon's roadshow presentation, November 2024

  1. Slide 1: Investor Meetings

    ©) exelon’ Fall 2024 Investor Meetings

  2. Slide 2: Cautionary Statements Regarding Forward-Looking Information

    Cautionary Statements Regarding Forward-Looking Information This presentation contains certain forward-looking statements within the meaning of federal securities laws that are subject to risks and uncertainties. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “pr

  3. Slide 3: Non-GAAP Financial Measures

    Non-GAAP Financial Measures Exelon reports its financial results in accordance with accounting principles generally accepted in the United States (GAAP). Exelon supplements the reporting of financial information determined in accordance with GAAP with certain non-GAAP financial measures, including:

  4. Slide 4: Who is Exelon?

    Who is Exelon? 6 T&D-only utilities 4.1 million 1.3 million 1.7 million 0.6 million Operate within seven regulatory jurisdictions Electric customers Electric customers Electric customers Electric customers 4 major metro areas served 2023 Rate Base: $20.3B 0.7 million 0.6 million 0.1 million Chicago,

  5. Slide 5: Premier Utility by Scope and Scale

    Premier Utility by Scope and Scale Largest Utility by Customers(1) 10.7 10.2 10.1 8.9 8.6 7.0 6.2 6.0 5.9 5.6 5.3 5.1 4.2 3.2 EXC Peer A Peer B Peer C Peer D Peer E Peer F Peer G Peer H Peer I Peer J Peer K Peer L Peer M Among the Largest Regulated Utilities by Rate Base(2) $106 $76 $71 $63 $60 $57

  6. Slide 6: Delivering Sustainable Value as the Premier T&D Utility

    Delivering Sustainable Value as the Premier T&D Utility SUSTAINABLE VALUE INDUSTRY-LEADING PLATFORM ✓ Size and Scale: Largest T&D utility in the country serving 10+ million customers ✓ Strong Growth Outlook: ~$34.5B of T&D capital from 2024-2027 to meet customer needs, resulting in expected rate bas

  7. Slide 7: Diverse, Fully Regulated T&D Utility

    Diverse, Fully Regulated T&D Utility Servicing Large Urban Areas Across Fully Regulated, Transmission and Distribution Seven Regulatory Jurisdictions FERC Transmission IL 21% Electric 28% Distribution Gas Delivery 65% 12% ~$60B(1) ~$60B(1) 3% Other(2) 3% 20% DE MD 4% NJ 21% 5% Electric DC Transmissi

  8. Slide 8: Best-in-Class Operations

    Best-in-Class Operations Industry-Leading T&D Operator Delivering a World-Class Customer Experience Top Quartile(1) Top Quartile(1) 1.00 8.15 0.98 8.09 0.92 8.09 0.88 7.92 7.92 7.85 0.76 0.74 0.71 7.74 Better 0.55 0.55 0.51 7.72 7.71 7.69 Better Peer G Peer G Peer F Peer I Peer F Peer I Exelon Peer

  9. Slide 9: Safely Powering Reliability and Resilience

    Safely Powering Reliability and Resilience Grid Resilience and Innovation Partnerships (GRIP) • In 2023, U.S. Department of Energy (DOE) selected ComEd and Grid Modernization Drives PECO to receive $150 million in total in federal funding to enhance Consistent Reliability Performance(1) the power gr

  10. Slide 10: Advancing Clean Energy Choices and Driving Customer Value

    Advancing Clean Energy Choices and Driving Customer Value Energy Efficiency Consistently Delivering Strong • Offer nationally recognized energy efficiency portfolios, including Customer Satisfaction Scores(2) incentives and behavioral programs across all our jurisdictions, saving 26.5M MWh in 2023 T

  11. Slide 11: Alternative Regulatory Mechanisms Across Variety of Jurisdictions

    Alternative Regulatory Mechanisms Across Variety of Jurisdictions 2024-2027E Rate Base Growth of $18.5B(1) 2023 Rate Base Composition 21% BGE PECO 20% 18% 17% 23% 26% PHI 37% ComEd 40% Multi-Year Plan Tracker Mechanisms Transmission Formula Fully Projected Future Test Year Exelon projects ~$18.5B of

  12. Slide 12: Exelon is an Industry Leader in Sustainability

    Exelon is an Industry Leader in Sustainability Environmental Social Governance NET-ZERO CLIMATE GOAL DIVERSITY, EQUITY & INCLUSION (DEI) (1) STRONG CORPORATE GOVERNANCE • No owned generation supply • Executive Committee is 67% women and ACROSS THE ORGANIZATION • Targeting a reduction of our operatio

  13. Slide 13: Exelon's Path to Clean GHG Emission Reduction Strategy

    Exelon’s Path to Clean GHG Emission Reduction Strategy 2020 2030 2050 Fleet Vehicles Buildings(1,2) Projected Emissions Short-Term SF6 Gas System Offsets Company Operations Take actions to reduce operations-driven emissions by 50% by 2030 and 800 Thousand Metric Tons of CO2e continue planning and in

  14. Slide 14: Financial Outlook

    Financial Outlook 14

  15. Slide 15: Customer Needs and Industry Trends Continue to Support Investment Growth

    Customer Needs and Industry Trends Continue to Support Investment Growth Transmission Continues to Represent an Increasing Area of 4-year capital investment(1) profile drives benefits for our Investment Need Across Our Jurisdictions customers... $34.5B $31.3B $26.0B $26.7B $29.0B $3.9B ~20.5 GW $9.7

  16. Slide 16: Exelon is a Key Partner in Driving Economic Development

    Exelon is a Key Partner in Driving Economic Development A proven leader in the data center market... …With a pipeline for continued growth Historical Data Center Load in Northern IL(1) Projected Data Center Load Growth in Exelon’s Footprint(2) Recently Announced Data Center Projects 600 500 ~20% CAG

  17. Slide 17: Delivering a Premium Customer Experience at Competitive Rates

    Delivering a Premium Customer Experience at Competitive Rates Managing Costs Below the Rate of Inflation Exelon’s Investment in Grid Modernization has Enabled ~40% Improvement in Reliability and Created Customer Value… $ in millions Adjusted O&M ($M)*(1) 2016 +36% ~2.0% +41% 2023 0.78 2.4% 71 Better

  18. Slide 18: Long-Term Earnings Growth Supports Sustainable Dividend

    Long-Term Earnings* Growth Supports Sustainable Dividend Targeting 5-7% Adjusted Operating • Plan reflects prudent and Projected Dividend Payout(4) Earnings* CAGR from 2023-2027(1)(5) balanced response to Expect ~60% dividend payout ratio rejection of first ComEd resulting in dividend growing in-lin

  19. Slide 19: Maintaining a Strong Balance Sheet is a Top Financial Priority

    Maintaining a Strong Balance Sheet is a Top Financial Priority S&P FFO / Debt %* and Moody’s CFO (Pre-WC) / Debt %* • Continued cushion over our downgrade thresholds, managing risks while funding growth in a balanced, ratable fashion – Illustrates Exelon’s low-risk attributes, including scale, juris

  20. Slide 20: Appendix

    Appendix 20

  21. Slide 21: 2024 Business Priorities and Commitments

    2024 Business Priorities and Commitments ❖ Maintain industry-leading operational excellence Industry-Leading Platform ❖ Achieve constructive rate case outcomes for customers and shareholders Operational Financial Sustainable ❖ Deploy $7.4B of capex for the benefit of the customer Discipline Value Ex

  22. Slide 22: 2024 Adjusted Operating Earnings Guidance

    2024 Adjusted Operating Earnings* Guidance Adjusted Operating Earnings* Guidance(1) Key Year-over-Year Drivers Incremental investments in utility infrastructure $2.40 - $2.50(3) $2.30 - $2.42(2) ComEd MYP rate order Incremental debt at Corporate net of other financing costs Key ComEd Assumptions • O

  23. Slide 23: Path to 5-7% Annualized Earnings Growth

    Path to 5-7% Annualized Earnings* Growth 2024 2025 2026 2027 YoY YoY YoY YoY OpCo Drivers(1) Drivers(1) Drivers(1) Drivers(1) EPS EPS EPS EPS BGE(2) Gas and electric MYP 2 year 1 Gas and electric MYP 2 year 2 Gas and electric MYP 2 year 3 Gas and electric MYP 3 year 1 rates and annual transmission r

  24. Slide 24: Exelon's Annual Earned Operating ROEs

    Exelon’s Annual Earned Operating ROEs* 9.6% 10.0% 9.5% 9.4% 9.2% 9.4% 9.3% 8.7% 2016 2017 2018 2019 2020 2021 2022 2023 2024 operating ROE* on track to be within our 9-10% targeted range Note: Represents the twelve-month periods December 31, 2016-2023 for Exelon’s utilities (excludes Corp). Earned o

  25. Slide 25: ComEd Overview

    ComEd Overview Key State Policies & Goals Rate Recovery Overview Climate & Equitable Jobs Act (CEJA) Distribution • Electric rates reflect a four-year cumulative multi- Transition to Clean Energy year plan (MYP) for 2024 to 2027 with an allowed Path to 100% clean energy by 2045 & ROE of 8.905%(3) en

  26. Slide 26: PECO Overview

    PECO Overview Key State Policies & Goals Rate Recovery Overview Alternative Energy Portfolio Distribution Standards • Electric and gas rates based on fully projected future Requirement that a percentage of electricity test year. Rates went into effect in 2022 and 2023, delivered each year comes from

  27. Slide 27: BGE Overview

    BGE Overview Key State Policies & Goals Rate Recovery Overview Climate Solutions Now Act (CSNA) Distribution Targets 60% reduction in greenhouse gas emissions by • Electric and gas rates reflect a three-year cumulative 2031 and net-zero greenhouse gas emissions by 2045 multi-year plan (MYP) for 2024

  28. Slide 28: Pepco Holdings Overview

    Pepco Holdings Overview Territory Overview Key District/State Policies & Goals ACE D.C. Climate Commitment Act Promotes a wide range of policies that support the DC Climate Main City Electric Customers Action Plan, including carbon neutrality by 2045 Atlantic City, NJ 0.6 Million Delaware Climate Ch

  29. Slide 29: Pepco Holdings Rate Recovery Overview

    Pepco Holdings Rate Recovery Overview Pepco MD Pepco DC DPL MD DPL DE ACE Distribution Distribution Distribution Distribution Distribution • Electric rates reflect a one-year • Electric rates reflect a two-year • Electric rates reflect a three-year • Gas rate based on partially • Electric rates base

  30. Slide 30: Utility Capex and Rate Base vs. Previous Disclosures

    Utility Capex and Rate Base vs. Previous Disclosures Q4 2022 Capital Expenditures ($M) Q4 2023 Capital Expenditures ($M) 8,200 8,350 9,225 9,225 7,550 8,650 7,150 7,175 975 1,000 975 975 975 7,325 7,425 975 900 925 1,825 1,800 1,600 925 1,000 2,450 2,875 2,725 1,450 1,450 1,225 1,625 4,775 4,825 4,9

  31. Slide 31: ComEd Capital Expenditure Forecast

    ComEd Capital Expenditure Forecast Rate Base Q4 2022 Capital Expenditures ($M) Q4 2023 Capital Expenditures ($M) 2023: 37% of Total Exelon Rate Base 3,150 3,150 3,100 2,925 2,850 650 2,625 900 7% 2,550 2,550 575 1,150 375 875 475 525 2,150 21% 550 $20.3B 2,350 2,450 2,250 2,250 2,075 2,025 1,975 2,0

  32. Slide 32: PECO Capital Expenditure Forecast

    PECO Capital Expenditure Forecast Q4 2022 Capital Expenditures ($M) Q4 2023 Capital Expenditures ($M) Rate Base 2023: 20% of Total Exelon Rate Base 1,925 1,900 1,825 1,700 375 1,600 1,650 375 1,575 375 1,400 400 1,375 375 350 200 26% 375 125 250 75 325 75 325 50 50 75 100 $11.1B 1,300 1,350 1,275 1,

  33. Slide 33: BGE Capital Expenditure Forecast

    BGE Capital Expenditure Forecast Rate Base Q4 2022 Capital Expenditures ($M) Q4 2023 Capital Expenditures ($M) 2023: 17% of Total Exelon Rate Base 2,050 2,075 1,950 525 550 1,675 525 1,600 1,550 1,475 525 1,350 1,325 500 31% 525 550 475 475 900 800 875 475 50% $9.7B 625 425 450 225 325 650 625 625 6

  34. Slide 34: Pepco Holdings Consolidated Capital Expenditure Forecast

    Pepco Holdings Consolidated Capital Expenditure Forecast Q4 2022 Capital Expenditures ($M) Q4 2023 Capital Expenditures ($M) Rate Base 2023: 26% of Total Exelon Rate Base 2,125 2,125 2,075 2,025 75 50 1,975 1,950 1,975 1,950 75 75 1,900 75 100 100 4% 100 125 650 700 625 550 625 600 525 575 550 29% $

  35. Slide 35: ACE Capital Expenditure Forecast

    ACE Capital Expenditure Forecast Q4 2022 Capital Expenditures ($M) Q4 2023 Capital Expenditures ($M) Rate Base 2023: 6% of Total Exelon Rate Base 525 525 450 475 475 425 425 450 425 225 250 175 150 200 200 100 150 200 39% $3.6B 61% 300 300 300 275 275 275 275 275 250 2023E 2024E 2025E 2026E 2023 202

  36. Slide 36: DPL Capital Expenditure Forecast

    DPL Capital Expenditure Forecast Q4 2022 Capital Expenditures ($M) Q4 2023 Capital Expenditures ($M) Rate Base 2023: 7% of Total Exelon Rate Base 600 625 625 600 575 600 575 575 75 50 575 75 100 75 75 15% 100 100 125 225 250 200 200 175 225 175 200 175 $3.9B 54% 31% 325 350 325 325 325 300 300 300 2

  37. Slide 37: Pepco Capital Expenditure Forecast

    Pepco Capital Expenditure Forecast Q4 2022 Capital Expenditures ($M) Q4 2023 Capital Expenditures ($M) Rate Base 2023: 12% of Total Exelon Rate Base 1,025 975 950 975 950 925 925 900 900 200 275 225 250 200 175 225 175 22% 250 $6.9B 750 775 750 775 775 750 725 725 650 78% 2023E 2024E 2025E 2026E 202

  38. Slide 38: 2024 Financing Plan

    2024 Financing Plan(1) OpCo Instrument Issuance ($M) Maturity ($M) Issued ($M)(3) Remaining ($M) FMB $775 ($250) $800 - FMB $675 ($400) $675 - FMB $250 ($150) $250 - FMB $175 ($33) $175 - FMB $575 - $575 - Senior Notes $800 - $800 - Senior Notes $1,700 ($500)(2) $1,700 - Equity $150 - $150 - Capital

  39. Slide 39: 2024-2027 Financing Plan

    2024-2027 Financing Plan $ in billions ~$1.6 ~$13 ~($5) ~$5 ~$35 ~$19 Adjusted Cash Debt Maturity Debt Refinance Debt Issuance(2) Equity Issuance(3) Utility Investment from Operations*(1) 2024-2027 2024-2027 Significant increase in capital expenditures is being funded in a balanced manner over the n

  40. Slide 40: Rate Case Details

    Rate Case Details 40

  41. Slide 41: ComEd MYRP Process Update

    ComEd MYRP Process Update Filed Appeal with Rehearing Rehearing 1 Rebuttal Evidentiary ALJs Proposed DSPR Order 2023 DSPR Filed Oral Arguments 3rd District Court Filed Order Received Testimony Hearings Order Received Apr 26, 2024 Nov 19, 2024 Jan 10, 2024 Feb 16, 2024 Apr 18, 2024 Jun 20, 2024 Aug 1

  42. Slide 42: Exelon Distribution Rate Case Updates

    Exelon Distribution Rate Case Updates Revenue Approved/Requested Expected/Received Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Requirement ROE / Equity Ratio Order Date Increase (1,2) ComEd $594.5M (2) EH IB RB FO 8.905% / 50.0% Dec 2024 Rate Plan 4-Year MYP (1,3) $123.4M 9.50%/ Pepco DC FO

  43. Slide 43: ComEd Distribution Multi-Year Adjusted Rate Plan Filing

    ComEd Distribution Multi-Year Adjusted Rate Plan Filing Multi-Year Adjusted Rate Plan Filing Details Notes (1,3) Docket No. 24-0181 • On December 19, 2024, the Illinois Commerce Commission (ICC) voted to unanimously approve ComEd’s compliant refiled grid plan and multi-year rate plan, Test Period Ja

  44. Slide 44: Pepco DC Distribution Rate Case Filing

    Pepco DC Distribution Rate Case Filing Multi-Year Plan Case Filing Details Notes Formal Case No. 1176 • April 13, 2023, Pepco submitted its “Climate Ready Pathway DC” three-year multi-year plan (MYP) application to the Public Service Commission of the Test Period January 1 – December 31 District of

  45. Slide 45: PECO (Electric) Distribution Rate Case Filing

    PECO (Electric) Distribution Rate Case Filing Rate Case Filing Details Notes Docket No. R-2024-3046931 • March 28, 2024, PECO filed a general base rate case with the Pennsylvania Public Utility Commission (PA PUC) seeking an increase in electric distribution base rates Test Period January 1, 2025 –

  46. Slide 46: PECO (Gas) Distribution Rate Case Filing

    PECO (Gas) Distribution Rate Case Filing Rate Case Filing Details Notes Docket No. R-2024-3046932 • March 28, 2024, PECO filed a general base rate case with the Pennsylvania Public Utility Commission (PA PUC) seeking an increase in gas distribution base rates Test Period January 1, 2025 – December 3

  47. Slide 47: DPL DE (Gas) Distribution Rate Case Filing

    DPL DE (Gas) Distribution Rate Case Filing Rate Case Filing Details Notes Docket No. 24-1044 • September 20, 2024, Delmarva Power filed an application with the Delaware Public Service Commission (DPSC) seeking an increase in gas distribution base rates Test Period 9 months estimated + 3 months actua

  48. Slide 48: ACE Distribution Rate Case Filing

    ACE Distribution Rate Case Filing Rate Case Filing Details Notes Docket No. ER24110854 • November 21, 2024, Atlantic City Electric filed with the New Jersey Board of Public Utilities (NJ BPU) to adjust base rates Test Period 9 months actual + 3 months estimated • Rate increases allow for system upgr

  49. Slide 49: Approved Electric Distribution Rate Case Financials

    Approved Electric Distribution Rate Case Financials Revenue Requirement Common Rate Approved Electric Distribution Rate Case Financials Allowed ROE Increase/(Decrease) Equity Ratio Effective Date (1,2) ComEd (Electric) $810.0M 8.905% 50.0% May 1, 2024 (3) PECO (Electric) $132.0M N/A N/A Jan 1, 2022

  50. Slide 50: Approved Gas Distribution Rate Case Financials

    Approved Gas Distribution Rate Case Financials Revenue Requirement Common Rate Approved Gas Distribution Rate Case Financials Allowed ROE Increase/(Decrease) Equity Ratio Effective Date (1) PECO (Gas) $54.8M N/A N/A Jan 1, 2023 (2,3) BGE (Gas) $228.8M 9.45% 52.00% Jan 1, 2024 (4) DPL DE (Gas) $7.6M

  51. Slide 51: Approved Electric Transmission Formula Rate Financials

    Approved Electric Transmission Formula Rate Financials Revenue Requirement Common Rate Approved Electric Transmission Formula Rate Financials Allowed ROE(1) Increase/(Decrease) Equity Ratio Effective Date(2) ComEd $20M 11.50% 54.82% Jun 1, 2024 PECO $3M 10.35% 53.56% Jun 1, 2024 BGE $53M 10.50% 53.8

  52. Slide 52: Commission Overview

    Commission Overview Illinois Pennsylvania Maryland District of Columbia Delaware New Jersey(2) (1) Commissioners Christine Guhl-Sadovy (D) Doug Scott (D) (2029) Stephen DeFrank (D) (2025) Fred Hoover (D) (2028) Dallas Winslow (R) (2025) (2029) Name Michael Carrigan (D) (2025) Kim Barrow, Vice Chair

  53. Slide 53: Tracker Recovery Mechanisms for Specified Investments / Programs

    Tracker Recovery Mechanisms for Specified Investments / Programs • Distribution System Improvement Charge (DSIC) tracker provides a mechanism to begin recovering gas and electric infrastructure investments for Delaware reliability every six months • Significant Storm Expense Rider allows for the def

  54. Slide 54: Revenue Decoupling Mitigates Load Fluctuation Impacts

    Revenue Decoupling Mitigates Load Fluctuation Impacts Revenue Decoupling Mitigates Load Fluctuations Non-Decoupled Load Volumes (GWh)(3) 34,873 Non-Decoupled C&I PECO Decoupled Residential DPL DE DPL MD ACE 60% Pepco ~76% of BGE Exelon’s distribution revenues are decoupled from 7,568 volumetric risk

  55. Slide 55: Exelon Debt Maturity Profile

    Exelon Debt Maturity Profile(1,2) Debt Balances (as of 9/30/24)(1,2) Short-Term Debt Long-Term Debt Total Debt BGE - $5.4B $5.4B As of 9/30/2024 ComEd $0.1B $12.2B $12.3B ($M) PECO - $5.9B $5.9B PHI $0.2B $9.1B $9.4B Corp $0.7B(3) $12.4B $13.1B Exelon $1.0B $45.0B $46.1B 2,323 2,400 1,650 600 1,650

  56. Slide 56: Q3 2024 QTD Adjusted Operating Earnings Waterfall

    Q3 2024 QTD Adjusted Operating Earnings* Waterfall $0.04 Distribution Rates ($0.02) Distribution Rates(1) ($0.01) Credit Loss Expense $0.04 Timing of Distribution Earnings ($0.01) Depreciation and Amortization $0.01 Return on Regulatory Assets ($0.01) Interest Expense $0.01 Other ($0.01) CMC Carryin

  57. Slide 57: Q3 2024 YTD Adjusted Operating Earnings Waterfall

    Q3 2024 YTD Adjusted Operating Earnings* Waterfall ($0.04) Distribution Rates(1) $0.16 Distribution Rates $0.03 Timing of Distribution Earnings ($0.02) Depreciation and Amortization $0.02 Return on Regulatory Assets ($0.02) Interest Expense ($0.05) Interest Expense $0.01 Transmission Peak Load ($0.0

  58. Slide 58: Exelon Adjusted Operating Earnings Sensitivities

    Exelon Adjusted Operating Earnings* Sensitivities Interest Rate Sensitivity to +50bp 2024E 2025E (1) Cost of Debt $(0.00) $(0.00) Exelon Consolidated Effective Tax Rate(2) 8.9% 16.6% Exelon Consolidated Cash Tax Rate(3) 11.1% 10.0% (1) Reflects full year impact to a +50bp increase on Corporate debt

  59. Slide 59: Reconciliation of Non-GAAP Measures

    Reconciliation of Non-GAAP Measures 59

  60. Slide 60: Projected GAAP to Operating Adjustments

    Projected GAAP to Operating Adjustments • Exelon’s projected 2024 adjusted (non-GAAP) operating earnings excludes the earnings effects of the following: – Costs related to a change in ComEd’s FERC audit liability; and – Costs related to a cost management charge. 60

  61. Slide 61: GAAP to Non-GAAP Reconciliations

    GAAP to Non-GAAP Reconciliations(1) (2) (3) S&P FFO/Debt = FFO (a) Moody’s CFO (Pre-WC)/Debt = CFO (Pre-WC) (c) Adjusted Debt (b) Adjusted Debt (d) S&P FFO Calculation(2) Moody’s CFO (Pre-WC) Calculation(3) GAAP Operating Income Cash Flow From Operations + Depreciation & Amortization +/- Working Cap

  62. Slide 62: Q3 QTD GAAP EPS Reconciliation

    Q3 QTD GAAP EPS Reconciliation Three Months Ended September 30, 2024 ComEd PECO BGE PHI Other Exelon 2024 GAAP Earnings (Loss) from Continuing Operations Per Share $0.36 $0.12 $0.04 $0.28 ($0.09) $0.70 Change in FERC Audit Liability - - - - - - Cost Management Charge - - - - - - 2024 Adjusted (non-G

  63. Slide 63: Q3 YTD GAAP EPS Reconciliation

    Q3 YTD GAAP EPS Reconciliation Nine Months Ended September 30, 2024 ComEd PECO BGE PHI Other Exelon 2024 GAAP Earnings (Loss) from Continuing Operations Per Share $0.82 $0.36 $0.35 $0.60 ($0.32) $1.81 Change in FERC Audit Liability 0.04 - - - - 0.04 Cost Management Charge - - - - - 0.01 2024 Adjuste

  64. Slide 64: GAAP to Non-GAAP Reconciliations

    GAAP to Non-GAAP Reconciliations Exelon Operating TTM ROE Reconciliation ($M)(1) 2016 2017 2018 2019 2020 2021 2022 2023 Net Income (GAAP) $1,103 $1,704 $1,836 $2,065 $1,737 $2,225 $2,501 $2,740 Operating Exclusions $461 ($24) $32 $30 $246 $82 $96 $60 Adjusted Operating Earnings* $1,564 $1,680 $1,86

  65. Slide 65: Thank you

    Thank you Please direct all questions to the Exelon Investor Relations team:  InvestorRelations@ExelonCorp.com  312-394-2345

  66. Slide 66: C\ exelon’

    C\ exelon’

Exelon — Non-Deal Roadshow (November 2024) on 6ix