1st Quarter Investor Update

Business Transformation Prioritizes Efficiency and Affordability While Staying Out of Rate Cases ppl A clear path to deliver at least $175M of savings through 2026 from 2021 baseline (O&M savings, $ in millions) $50M - $60M At least $175M At least $150M $120M $130M $35M $35M $105M Estimated O&M Savings by 2023 Estimated O&M Savings by 2024 Estimated O&M Savings by 2025 Estimated O&M Savings by 2026 IT&D Operations Other Operations Centralization of Shared Services ✓ T&D Operations • Smart Grid Technology - more efficient and condition- based maintenance for substation and line assets Enhanced vegetation management modeling lowers maintenance costs Customer service technology investments improve self- service and reduce calls handled by agents ✓ Other Operations (Generation & Gas LDCs) • Optimization of planned outage schedules and non- outage maintenance ✓ Centralization of Shared Services • Consolidation of IT platforms reducing maintenance footprint and lower licensing costs • Economies of scale from centralized service functions, including supply chain Additional Opportunities to Scale and Drive Incremental Savings Longer Term 19

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