Edison International · NYSE:EIX
Edison International — Investor Presentation (October 2025)
60 slides from Edison International's investor presentation, Oct 29, 2025
Slide 1: October 28, 2025 Business Update
OCTOBER 28, 2025 BUSINESS UPDATE EXHIBIT 99.1
Slide 2: Forward-looking statements
1Edison International | October 2025 Business Update Statements contained in this presentation about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook, and other statements that are not purely historical,
Slide 3: Electrifying the Future: Customers and Clean Energy
2Edison International | October 2025 Business Update Wildfire Mitigation Financial Information AppendixIntroduction Electrifying the Future: Customers and Clean Energy Edison International leads the transformation of the electric power industry One of the nation’s largest electric-only utilities, wi
Slide 4: Investment thesis: wires-focused utility
3Edison International | October 2025 Business Update Wildfire Mitigation Financial Information AppendixIntroduction Electrifying the Future: Customers and Clean Energy Thesis: Wires-focused utility with continuing investments in reliability and resiliency while enabling clean energy transition Const
Slide 5: California regulatory mechanisms provide revenue certainty
4Edison International | October 2025 Business Update Wildfire Mitigation Financial Information AppendixIntroduction Electrifying the Future: Customers and Clean Energy California’s regulatory mechanisms provide revenue certainty Revenue Decoupling means earnings aren’t affected by changes in electri
Slide 6: SCE Wildfire Mitigation: Approach, Progress, and Results
SCE WILDFIRE MITIGATION: APPROACH, PROGRESS, AND RESULTS
Slide 7: Wildfire mitigation resources and links
6Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SB 254 (2025) & Natural Catastrophe Resiliency Study AB 1054 (2019) & SB 599 (2022) SCE Safety Certification Wildfire Insurance Fund
Slide 8: SCE's 2026–2028 Wildfire Mitigation Plan
7Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE’s 2026–2028 Wildfire Mitigation Plan is a layered defense strategy to safeguard our communities Distribution hardening Additiona
Slide 9: SCE is seeing proof points and results
8Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE is seeing proof points and results from its substantial wildfire mitigation efforts 1. Since 2018 and as of September 30, 2025 2
Slide 10: California comprehensive wildfire risk reduction profile
9Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy California has a comprehensive wildfire risk reduction profile, benefiting customers and investors Suppression CAL FIRE Budget: Doub
Slide 11: SB 254 supports IOU financial stability
10Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SB 254 is a key action that demonstrates support for IOU financial stability and its importance for customer affordability… 1. Refe
Slide 12: SB 254 requires evaluation of long-term reforms
11Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy …and requires evaluation of broad long-term reforms, recognizing new models necessary to equitably socialize risk Recognizes climat
Slide 13: AB 1054 regulatory construct for wildfire liability
12Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy AB 10541 provides a strong regulatory construct for determining wildfire liability and cost recovery Established safety certificati
Slide 14: Wildfire Fund mechanics
13Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Wildfire Fund provides liquidity for claims payments and ceiling on liability to reimburse fund AB 1054 Wildfire Fund (Initial Acco
Slide 15: Wildfire Fund reimbursement example
14Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE does not reimburse Fund for eligible claims above annual aggregate insurance of $1 billionIf authorized 100% recovery1 SCE’s In
Slide 16: California increased wildfire suppression and prevention investment
15Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy $2.0 $2.5 $2.9 $2.5 $2.6 $3.7 $4.1 $4.2 $4.2 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 California has
Slide 17: Covered conductor cost and implementation time
16Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy ~4.0 ~0.9 Under- ground Covered Conductor Covered conductor is a very valuable tool to expeditiously and cost-effectively reduce wi
Slide 18: 91% of planned distribution line hardening completed
17Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE has completed 91% of planned distribution line hardening in high fire risk area (HFRA) Completed Hardening (~14,200 miles) Unde
Slide 19: Electrifying the Future: Customers and Clean Energy
ELECTRIFYING THE FUTURE: CUSTOMERS AND CLEAN ENERGY
Slide 20: Reaching California's 2045 GHG goals
19Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Reaching California’s 2045 GHG goals requires a near-complete transformation of energy use economy wide 100% of grid sales with car
Slide 21: Reaching net zero
20Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Neutralize remaining emissions: Mostly from natural gas generation supporting reliability and affordability EIX is directly contrib
Slide 22: Load growth drivers
21Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE’s load growth driven by economywide trends with broad customer and climate benefits SCE’s diverse and durable drivers of demand
Slide 23: Load growth levered to EV adoption
22Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE’s future load growth is highly levered to EV adoption, helping affordability by providing downward pressure on rates 1. Include
Slide 24: Strong electrification profile
23Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Edison International has one of the strongest electrification profiles in the industry 1. Source: EPRI analysis of Experian data St
Slide 25: Transportation electrification programs vs. other utilities
24Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy $872 $806 $457 $414 $394 $313 $309 EIX Utility A Utility B Utility C Utility D Utility E Utility F SCE leads the largest utility tr
Slide 26: Grid expansion needed as load nearly doubles
25Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Load nearly doubling by 2045 requires a significant acceleration in grid expansion Source: SCE’s Countdown to 2045 analysis. See Co
Slide 27: Electrification household savings
26Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 2023 2045 By 2045, electricity demand is projected to nearly double from 2025, primarily due to electrification Households will ben
Slide 28: Share of wallet vs. other states
27Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 0% 2% 4% 6% 8% 10% 12% 14% Mississippi Nebraska Alabama West Virginia Wyoming Tennessee Arkansas North Carolina Kentucky Oklahoma S
Slide 29: SCE lowest system average rate among California IOUs
28Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 35.1 34.8 29.3 SDG&E PG&E SCE SCE has lowest system average rate among California IOUs and remains laser focused on affordability f
Slide 30: 2019–2024 rate increases driven by external events
29Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 2019–2024 rate increases largely driven by external events % of Total Increase 2019–2024: SCE’s rate trend outpaced inflation (~12%
Slide 31: Composition of bundled system revenue requirement
30Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Composition of Bundled System Revenue Requirement1 5% Transmission Investment in operations and maintenance for high-voltage transm
Slide 32: SCE vs. LADWP average residential bill
31Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE delivers on California’s energy goals while managing affordability—despite higher policy-driven cost burdens +38% vs. SCE +37%
Slide 33: Financial Information
FINANCIAL INFORMATION EDISON INTERNATIONAL
Slide 34: CPUC 2025 GRC decision provides foundation for growth
33Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy CPUC’s 2025 GRC decision provides foundation for growth through 2028 2025 base revenue of ~$9.7 billion of request approved Represe
Slide 35: Refreshed 4-year outlook
34Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Refreshed 4-year outlook reflects meeting customer needs and confidence in delivering on long-term targets 1. CAGR based on startin
Slide 36: 2025–2028 capital expenditures plan
35Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 2025–2028 Capital Expenditures Plan1 Four-year capex plan of ~$28–$29 billion to strengthen reliability, resilience, and readiness
Slide 37: Over 85% of capital in distribution grid
36Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Over 85% of SCE’s capital investments are in its distribution grid and essential to reliability, resiliency, and readiness objectiv
Slide 38: Projected rate base growth
37Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 35.4 40.0 42.8 46.3 49.2 7.4 7.4 7.6 8.0 8.3 $42.8 $47.4 $50.4 $54.3 $57.5 2024 2025 2026 2027 2028 Projected 7–8% rate base growth
Slide 39: 2026 cost of capital application
38Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Ongoing wildfire risk (Request does not include an ROE “adder" above the reasonable range) SCE’s role in advancing California’s cle
Slide 40: Woolsey settlement agreement
39Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE and intervenors reach settlement agreement for Woolsey, which would authorize 35% cost recovery1 On September 19, 2025, SCE, Ca
Slide 41: Woolsey settlement key takeaways
40Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Key Takeaways of Woolsey Cost Recovery Settlement Agreement Authorized Amounts 35% of claims, financing, and legal costs (~$2 billi
Slide 42: Legacy wildfire cost recovery in final stages
41Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Resolution of legacy wildfires entering final stages: TKM settlement approved; Woolsey settlement pending approval TKM (A.23-08-013
Slide 43: 2025 core EPS guidance and modeling considerations
42Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Note: See Earnings Per Share Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix. All tax-effected informat
Slide 44: Memo account recovery
43Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy ~$6.0 billion memo account recovery 2021– Q3 20251 ~$1.6 billion securitizations of AB 1054 capex completed ~$5.3 billion remaining
Slide 45: Memo account capex approvals
44Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy $99 million for Wildfire Mitigation (2022 WM/VM) $702 million for Wildfire Mitigation & Restoration (WMCE) $465 million for Wildfir
Slide 46: Investment grade credit ratings and debt maturities
45Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy EIX and SCE are committed to investment grade credit ratings 1. Excludes amortization of securitized bonds related to SCE’s AB 1054
Slide 47: Track record of delivering on Core EPS guidance
46Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy EIX has a solid track record of delivering on Core EPS guidance over the last two decades 2024 2023 2022 2021 2020 In-line In-line
Slide 48: 21 consecutive years of dividend growth
47Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy EIX has 21 consecutive years of dividend growth1 $0.80 $3.31 2004 2025 7% CAGR Dividends per Share 1. 2025 dividend annualized base
Slide 49: 5–7% Core EPS growth and financing plan
48Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy EIX expects 5–7% Core EPS growth for 2025–2028, with financing plan showing no equity needs 1. For 2025, represents the midpoint of
Slide 50: 2028 Core EPS guidance
49Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 1. Compound annual growth rate (CAGR) based the midpoint of the original 2025 Core EPS guidance range of $5.50–5.90 plus run-rate i
Slide 51: Rate base and EPS growth aligned with safety and affordability
50Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Rate base and EPS growth aligned with grid safety, reliability and customer affordability 1. Compound annual growth rate (CAGR) bas
Slide 52: FAQs: 2025 guidance and core EPS growth
51Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy FAQs: 2025 Guidance and 2025–2028 Core EPS Growth1 2) Rate base from the GRC is lower, but EPS growth is unchanged. What are the ke
Slide 53: FAQs: core EPS growth (continued)
52Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy FAQs: 2025 Guidance and 2025–2028 Core EPS Growth (continued) 1 4) What factors could enable you to hit the high end of the 5–7% co
Slide 54: FAQs: capital and rate base
53Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy FAQs: Capital and Rate Base2 6) What are the primary drivers of the lower 2025–2028 rate base forecast vs. the prior forecast? • Ou
Slide 55: FAQs: ROE and financing plan
54Edison International | October 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy FAQs: ROE and Financing Plan3 9) How can you finance your growth without issuing equity? 10) What is your current thinking on addre
Slide 56: Appendix
APPENDIX EDISON INTERNATIONAL’
Slide 57: Edison Energy: integrated energy management and sustainability solutions
56Edison International | October 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy Partners with large commercial, industrial, and institutional organizations to navigate the energy transition by providing integrate
Slide 58: Fewer major regulatory applications in coming years
57Edison International | October 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy Fewer major regulatory applications in coming years increases visibility to financial outlook Application 2025 2026 2027 2028 Next S
Slide 59: Earnings per share non-GAAP reconciliations
58Edison International | October 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy Low High Basic EIX EPS $8.05 $8.30 Total Non-Core Items1 (2.10) (2.10) Core EIX EPS $5.95 $6.20 1. Non-core items are presented as t
Slide 60: Use of non-GAAP financial measures and IR contact
59Edison International | October 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy Use of Non-GAAP Financial Measures EIX Investor Relations Contact Sam Ramraj, Vice President Derek Matsushima, Principal Manager (62
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