FirstEnergy Corp. · NYSE:FE
FirstEnergy — EEI Financial Conference 2021
11 slides from FirstEnergy's conference presentation, Nov 8, 2021
Slide 1: Focused on Our Future
Focused on Our Future November 2021 Published: November 8, 2021
Slide 2: Moving FirstEnergy Forward
Moving FirstEnergy Forward Transformative Equity Raise of $3.4B at Blended Premium Valuation of 33x LTM P/E - $2.4B from FET LLC Minority Interest Sale (19.9%) and $1B Common Equity Issuance - Strengthens balance sheet and supports long-term growth - Eliminates all non-SIP/DRIP equity plans Increasi
Slide 3: Transformative $3.4B equity financing at historic premium valuation
Transformative $3.4B equity financing at historic premium valuation Provides financial flexibility Supports investment-grade metrics Supports sustainable earnings growth Blended Equity Proceeds and Implied LTM P/E Valuation 33x LTM P/E 40x LTM P/E $3.4B 16x LTM P/E $2.4B $1B FirstEnergy Transmission
Slide 4: FET Minority Interest Sale: Transaction Summary
FET Minority Interest Sale: Transaction Summary Topic Description ■ Brookfield Super-Core Infrastructure Partners Minority Investor – Part of one of the largest infrastructure portfolios in the world ■ All-cash investment of $2.4B for a 19.9% minority ownership interest in FET LLC Purchase Price & –
Slide 5: $1B Equity: Transaction Summary
$1B Equity: Transaction Summary Topic Description ■ Blackstone Infrastructure Partners Investor – An active permanent capital investor across the energy, transportation, digital infrastructure, water and waste infrastructure sectors ■ $1B investment in common stock with Blackstone Infrastructure Par
Slide 6: Robust $17B investment plan
Robust $17B investment plan Including $10B+ of sustainable investments Investments 5-Year Plan 2025 vs. 2021 FE ~15% increase, or ~$2.2B ~25% increase Transmission ~25% increase, or ~$1.4B ~65% increase ~6% annual Rate Base growth from 2021 to 2025 ~$17B Investment Plan 10% Grid Mod & Resiliency ($8
Slide 7: Focused on achieving Investment-Grade ratings
Focused on achieving Investment-Grade ratings Committed to improving Governance & Compliance and strengthening our credit profile GOVERNANCE, COMPLIANCE and DISCLOSURES FINANCIAL STRATEGY ▪ 6(1) new board members (5 independent) ▪ Transformative equity raise which ▪ 6 external, experienced senior le
Slide 8: Moving FirstEnergy Forward: Our Value Proposition
Moving FirstEnergy Forward: Our Value Proposition Our transformative and strategic financing plan along with FE Forward… Eliminates all non-SIP/DRIP Provides increased financial Enables the strengthening of equity plans flexibility to fund investments our credit profile Customer-focused, all electri
Slide 9: Focused on our Future
Investor Relations Contact Information Focused on our Future Irene M. Prezelj, Vice President Gina E. Caskey, Senior Advisor Jake M. Mackin, Consultant prezelji@firstenergycorp.com caskeyg@firstenergycorp.com mackinj@firstenergycorp.com 330.384.3859 330.761.4185 330.384.4829 For our e-mail distribut
Slide 10: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned
Slide 11: Non-GAAP Financial Matters
Non-GAAP Financial Matters This presentation contains references to non-GAAP financial measures including, among others, Operating earnings (loss), Operating earnings (loss) per share (EPS), Operating earnings (loss) per share (EPS) by segment, Free Cash Flow (FCF), Funds from Operations (FFO) and A