Investor Presentaiton

Risk Mitigation to Facilitate Growth Key 2020 and 2021 Accomplishments Establishing Storm Reserves 1 Seeking to establish $100 million storm reserve to address future storm restoration costs 4 Requested an additional $100 million storm reserve to address Hurricane Ida storm 2 restoration costs Executed Bridge Financing Issued $325 million of 2023 Floating Rate Senior Notes (FRNs) callable on or after March 15, 2022 Proceeds used for general corporate purposes including repaying revolving credit facility balances and funding prospective Hurricane Ida storm restoration costs Anticipate retiring FRNs upon completion of storm restoration cost securitization Deferral of Distributions сл 5 Managing Customer Affordability Closely managing customer affordability given storm restoration costs and anticipated Dolet Hills Power Station cost recovery • Cost savings initiative launched and executed in 2021 Well Funded Pension Plan • No projected required pension plan contributions through 2025 3 • Owner distributions from 2020-2021 YTD delayed initially to manage uncertainty of pandemic and subsequently to fund storm restoration costs 6 CLECO Connecting Louisiana's future. Responding to Non-Renewal of DEMCO Contract • Intervened at LPSC; alternate selection is higher risk for DEMCO customers • Pursuing potential load replacement; alternate recovery mechanism through retail rates Significant steps taken to strengthen Cleco Power's financial position, protect from future storm risks, and manage customer affordability, all of which facilitate continued investment and growth 8

View entire presentation