Investor Presentaiton
Key Takeaways from Today's Plan Update
A significant runway of growth and value creation
ppl
Extends 6% - 8% annual EPS and dividend growth targets through at least 2026 (previously 2025)
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Announces 2023 EPS forecast range of $1.50 - $1.65 per share; midpoint represents 7% growth off 2022 pro forma EPS
(1)
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Announces expected increase to quarterly common stock dividend by 7% to $0.24 per share, subject to Board approval
(2)
Adds $2.5 billion of generation replacement and transmission investments to capital plan through 2026
Results in increased average annual rate base growth rate to 5.6% from 2022 - 2026 (previously 3.5%)(3)
Increases targeted annual cost savings to at least $175 million by 2026 (previously $150 million by 2025)
➤ Maintains exceptional credit metrics to support premier credit ratings - no equity issuances through at least 2026
➤ Delivers lower CO2 emissions (67% reduction by 2030 from 2010 baseline); aligns with net zero commitment
➤ Builds on best-in-class governance with addition of utility industry veteran, Linda Sullivan, to PPL's Board
(1) 2022 pro forma earnings forecast range of $1.40 to $1.55 per share, with a midpoint of $1.48 per share, reflects a full year of earnings contributions from Rhode Island Energy (RIE).
(2) Projected capital expenditures related to replacement generation in Kentucky are based upon LG&E's and KU's Certificate of Public Convenience and Necessity (CPCN) filing subject to KPSC approval.
Based on year-end rate base estimates from 2022 to 2026.
(3)
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