Constellation Energy Corporation · NASDAQ:CEG

Constellation Energy — Merger or Acquisition (June 2023)

7 slides from Constellation Energy's merger presentation, Jun 1, 2023

  1. Slide 1: Constellation Business Update June 1, 2023

    Constellation Business Update June 1, 2023

  2. Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures

    This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “b

  3. Slide 3: Constellation Acquiring 44% Stake in South Texas Project (STP) from NRG

    Constellation Acquiring 44% Stake in South Texas Project (STP) from NRG 3 Large, young, dual unit site Strong operations and well-maintained Potential to extend license to 80 years Co-Owners of STP STPNOC (2) will continue to operate Site Details Constellation 44% CPS Energy 40% Austin Energy 16% To

  4. Slide 4: STP is a Strategic Fit into Constellation's Current Fleet

    STP is a Strategic Fit into Constellation’s Current Fleet 4 0 5 10 15 20 25 C ap ac it y (G W ) 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 Legacy CEG Assuming 80 Year Asset Lives STP Current License STP Subsequent License Renewal to 80 Years  STP increases our clean energy output by ~9.5 TWh

  5. Slide 5: Attractive Transaction Economics

    Key Financial Details Approvals and Timing Attractive Transaction Economics 5 Targeting Q4 2023 close Required approvals: • Nuclear Regulatory Commission (NRC) • Hart-Scott-Rodino (HSR) ~$1.4B Effective Purchase Price (1) (1) Reflects consideration of the present value of tax benefits associated wit

  6. Slide 6: Pro Forma Free Cash Flow and Capital Allocation

    6 (1) Pro Forma FCFbg represents FCFbg as of December 31, 2022, adjusted for cash from STP (2) Beginning Cash Available reflects excess cash balance above minimum targets as of December 31, 2022 (3) Debt Issuance & Other Financing includes collateral activity, and contributions from and distribution

  7. Slide 7: Constellation's Value Proposition

    Constellation’s Value Proposition 7

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