Southern Company (the) · NYSE:SO
Southern Company (the) — ESG Presentation (September 2025)
25 slides from Southern Company (the)'s sustainability presentation, September 2025
Slide 1: Shareholder Engagement Update
Shareholder Engagement Update September 2025
Slide 2: We provide clean, safe, reliable, affordable energy and customized solutions
We provide clean, safe, reliable, affordable energy and customized solutions Capabilities in 50 States 7 Electric & Natural Gas Utilities 9 Million Customers More than 28,000 Employees Approximately 45,000 MW of Generating Capacity As of February 2025 In this presentation, the terms “we”, “us” and “
Slide 3: Southern Company Value Proposition
Southern Company Value Proposition: Objective of Regular, Predictable and Sustainable Strategy: Maximize long-term value to shareholders through a customer-, community-, and relationship-focused business model that produces sustainable levels of return for investors 78 years Objective of maintaining
Slide 4: Premier State Regulated Electric and Gas Utilities
Premier State Regulated Electric and Gas Utilities Atlanta Gas Light Over 90% of Chattanooga Gas earnings and cash Nicor Gas flow come from Virginia Natural Gas our state-regulated utility operations Our electric and gas utilities serve customers in 6 states* Regulated by state public service commis
Slide 5: Vogtle Units 3 and 4 Have Been Successfully Completed
Vogtle Units 3 and 4 Have Been Successfully Completed Plant Vogtle is now the largest generator of clean energy in the United States 5
Slide 6: Retail Electricity Sales and Projected Growth
Retail Electricity Sales and Projected Growth Total Southern Company System Sales Growth (MWh) Retail electricity sales growth has been roughly flat since 2019 due to economic 8% conditions and energy efficiency average annual growth projected Beyond 2025, we expect a material step- for 2025-2029 ch
Slide 7: Robust Economic Development Pipeline Process
Robust Economic Development Pipeline Process Will the load materialize? Is the pricing appropriate? What protections are in place? Our robust load forecasting We employ robust models to A risk-adjusted load forecast, process includes risk ascertain the marginal cost to local grid improvement costs a
Slide 8: Sustainability Highlights
Sustainability Highlights Governance (Slides 9-14) Regular Board refreshment, through strategic additions and retirements of directors, strengthens our fit-for-purpose Board that thoughtfully oversees key risks and opportunities, with independent directors that are committed to regular direct engage
Slide 9: Governance
Governance Range and depth of experience and expertise Janaki Akella Shantella E. Anthony F. Earley, Jr. James O. Etheredge David J. Grain Independent Cooper Lead Independent Independent Independent Former Digital Independent Director Managing Director, CEO & Transformation Founder & CEO, Chairman,
Slide 10: Governance
Governance Broad range of depth of qualifications, attributes, skills and experience of Board nominees* Southern Company's Board of Director nominees possess a range and depth of expertise and experience to effectively oversee the Company’s operations, risks and long-term strategy * Additional skill
Slide 11: Governance
Governance Focus on regular, thoughtful board refreshment New Directors Since 2023 Shantella E. Cooper James O. Etheredge David E. Meador Lizanne Thomas John M. Turner, Jr. Christopher C. Womack Founder & CEO, Journey Managing Director, Vice Chairman & Chief Partner, global law firm Chairman, Presid
Slide 12: Governance
Governance Robust role of the Lead Independent Director and strong independent Directors Anthony F. “Tony” Earley, Jr. was elected Lead Independent Director in May 2024 by the independent members of Southern Company’s Board of Directors Former Chairman, President and Chief Executive Officer of PG&E
Slide 13: Governance
Governance Thoughtful Board oversight of key risks and opportunities The full Board regularly discusses key topics as part of its regular agenda, including Southern’s fleet transition strategy and human capital management. Board committees take a deeper dive into risks and opportunities and report o
Slide 14: Governance
Governance Corporate governance standards and practices designed to create long-term value for our stockholders Annual election of Directors 100% independent Board committees Majority voting standard for Director election Regular Board refreshment Seeks candidates with diverse range of backgrounds,
Slide 15: Environment
Environment Continued Deployment of Lower-Emitting Resources Long-term GHG Goal: Net zero by 2050 Total Scope 1 GHG Emissions Annual Energy Mix for Electric Generation* (based on equity share) 1% 49% 14% 14% 157 Metric tons of C02e (millions) Renewables/Other 16% 19% Nuclear 79 49% 69% Natural Gas 1
Slide 16: Environment
Environment Our fleet transition path A path to net zero Decarbonization considerations include: Efficient use of natural gas Continued assessment of coal-fired generating assets, with the use of environmental control technologies Further growth in our portfolio of clean energy resources, including
Slide 17: Environment
Environment Thoughtful scenario planning process guides fleet transition Scenario planning process has been in place since 2008 Each operating company is committed to reliability and serves as basis for integrated resource planning at and affordability while adopting new technologies state-regulated
Slide 18: Environment
Environment Coal retirements since 2007 demonstrate significant fleet transition Coal Capacity (MW — Nameplate) 20,457 MW (66 Units) 8,523 MW (15 Units) 2007 2024 The nameplate capacity shown represents Southern Company’s ownership portion of total plant capacity, including minority ownership in two
Slide 19: Environment
Environment Strong historical growth in renewables and storage portfolio, with significant future additions expected Renewable and Energy Storage Resources for the Electric Operations (MW) ~20,000 MW 12,500 MW <5,000 MW 2007 2024 Mid 2030s E* Renewable resources include hydropower, solar, wind, biom
Slide 20: Environment
Environment Focusing on the full value chain of GHG emissions Comprehensive GHG emissions reporting along with a focus on reducing emissions from operations and driving upstream and downstream emissions reductions Disclose Scope 1, Scope 2 and all relevant Scope 3 emissions for 2024 GHG Emissions by
Slide 21: Human Capital
Human Capital Focus on attracting, developing and retaining a sustainable workforce Our employees are one of our greatest assets, and our actions demonstrate the value we place on our people Fully committed to attracting, developing, including and retaining an engaged workforce Invest in our employe
Slide 22: Transparency
Transparency Disclosures responsive to investor interest Sustainability Website available here Key Data and Reports available here Southern Company recognizes the value our investors and stakeholders place on transparency, and we are committed to continued enhancements. Our ongoing conversations wit
Slide 23: Transparency
Transparency Disclosures, ratings and rankings demonstrate commitment and progress Scale Rating Letter grade CCC – AAA (best) A MSCI (2024) Score 0-10 (best) 5.8 Sustainalytics ESG Risk Rating (2024) 0 (best) – 100 28.2 ISS Governance Score (2025) 1 (best) – 10 1 CPA Zicklin (2024) 0 – 100 (best) 91
Slide 24: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements Certain information contained in this presentation is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, long- term projected adjusted
Slide 25: Southern
L = N Southern Company