Exelon Corporation · NASDAQ:EXC

Exelon — Non-Deal Roadshow (September 2003)

17 slides from Exelon's roadshow presentation, Sep 12, 2003

  1. Slide 1: Building on Success

    Building on Success Robert S. Shapard Executive Vice President and CFO Europe Investor Meetings September 15-19, 2003 Exelon Corporation

  2. Slide 2: Forward-Looking Statements

    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. The factors that could cause actual results to differ materially from the forward-looking statements made by a regist

  3. Slide 3: What Is Exelon?

    What Is Exelon? * Includes AmerGen investment ** Operating capacity at 12/31/02; includes AmerGen and Sithe investments Sources: Company reports, Thomson Financial, Bloomberg

  4. Slide 4: Operating Overview

    Operating Overview Generating capacity: 28,003 MWs owned 12,761 MWs contracted More than 60% of supply generated from nuclear About 65% of generation serves ComEd and PECO Energy 2002 Net Income of $0.4 billion (28% of Exelon) ComEd*: About 3.6 million electric customers Regulatory transition period

  5. Slide 5: Total Return Comparisons

    Total Return Comparisons 1/1/00 - 7/31/03 Source: Bloomberg

  6. Slide 6: Accomplishments - Creating Real Value

    Accomplishments - Creating Real Value Provided average annual growth of 12% in operating EPS*, excluding one-time items, and 4.3% in dividends Retired $1.2 billion of transition debt and refinanced $2.8 billion of debt, resulting in total interest expense reduction of about $120 million Achieved 93.

  7. Slide 7: Building on Success

    Building on Success Low-cost generation portfolio Large, stable retail customer base No material trading exposure Strong balance sheet Positioned to deliver sustainable annual earnings growth Experienced management to take Exelon to the next level of excellence - The Exelon Way

  8. Slide 8: Optimize Supply Portfolio and Limit Market Risk

    (1) Based on Exelon Generation's ownership and long-term contracts at 7/31/03, including AmerGen Energy Company, LLC; excludes investment in Sithe Energies, Inc. ECAR: 500 MW Contracted MAAC: 10,665 MW Total 10,415 MW Operating 250 MW Contracted MAIN: 20,164 MW Total 11,028 MW Operating 9,136 MW Con

  9. Slide 9: Industry in Transition

    Industry in Transition Regulatory restructuring Capacity overbuild Volatile wholesale prices Standard Market initiatives

  10. Slide 10: The Exelon Way Model

    Support Functions - One Source New Model Business Units - One Model Operating Processes - One Approach Integrate/ Centralize Consolidate/ Align Standardize/ Simplify One Company, One Vision Characteristics Realign support resources Restructure the business units Optimize investments Standardize proc

  11. Slide 11: O&M and CapEx Targets

    O&M and CapEx Targets ($ millions) 2004 Annual Impact O&M* CapEx Total GenCo $ 80 $ 65 $ 145 $ 115 $ 125 $ 240 EED 130 135 265 215 295 510 Total $ 210 $ 200 $ 410 $ 330 $ 420 $ 750 Cash Flow Summary 2004 Impacts GenCo $ 50 $ 65 $ 115 $ 71 $ 125 $ 196 EED 81 135 216 133 295 428 Total $ 131 $ 200 $ 33

  12. Slide 12: Build Value through Consistent Profitability

    Build Value through Consistent Profitability Operating Earnings Per Share* Time $4.50 $4.49 $4.30 $5.00 "Top End" $4.70 $4.85 $4.83 $4.45 $5.45 $5.15 $3.86 2000 2001 2002 2003E 2004E Note: Current 2003E EPS guidance is $4.80 to $5.00. * See end of presentation material for reconciliation to GAAP EPS

  13. Slide 13: Exelon Consolidated Key Assumptions

    Exelon Consolidated Key Assumptions

  14. Slide 14: Expected EPS Drivers

    2002 Actual CTC Ent. Losses EBG Interest Sales MWG Options 2004 Gas EW_Infla Invisible dataset 4.65 4.65 4.8 4.94 5.01 5.13 5.09 5.09 Green 5 0.35 0.15 0.14 0.07 0.12 0.06 5.19 0.1 0.4 2003E Guidance 2004 E Gas Price Risks Exit Exelon New England ComEd CTC/RTO PECO CTC/Amort. Stop Enterprises Losses

  15. Slide 15: Exelon Consolidated Balance Sheet

    Exelon Consolidated Balance Sheet

  16. Slide 16: Valuation Measures

    Valuation Measures P/E Earnings per Share Earnings per Share Dividends Yield 2004E (X) 2-Yr CAGR 2000-2002A (%) 2-Yr CAGR 2002A-2004E (%) 5-Yr CAGR 1997-2002A (%) (%) Exelon 11.3 11.9 4.8 2.2 3.3 Entergy 13.0 10.5 4.9 -5.5 3.3 FPL Group 12.1 4.7 3.1 3.8 3.9 Dominion Res. 12.0 20.4 2.4 0 4.2 Southern

  17. Slide 17: Exelon - Building on Success

    Exelwn. Building on Success

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