2022 Investor Day Presentation

POWER FUNDAMENTALS North American power demand continues to grow Power demand, North America TWh CAGR 2030-2050 1.3% 8,000 CAGR 2022-2030 0.8% 6,000 4,000 2,000 00000 ooooo Ос 00000 0000000000 Capacity additions & retirements, North America GW 2,000 1,500 1,000 500 0 (500) (1,000) 2022 2025 2030 2035 2040 2045 2050 0 2022 2030 2050 Battery storage Coal retirements Solar Wind Natural gas Other (1) Renewable retirements Other retirements (2) Net (1) Includes coal, geothermal, oil, nuclear, and pumped hydro. (2) Includes natural gas, nuclear, and oil. Source: IHS Markit's Energy and Climate Scenarios, 2022 (now a part of S&P Global Commodity Insights), ©2022 by S&P Global Inc. All rights reserved. 00000 + MULTIPLE RESOURCES NEEDED • Rising power demand will require an 'all-of-the-above' solution GROWTH THROUGH 2050 • Decarbonization drives bulk of growth from wind, solar, battery storage and pumped hydro + RELIABILITY AND SECURITY Natural gas generation continues to play important role 15

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