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Investor Presentaiton

Rate Base CAGR of Over 5.5% Through 2026 Projected Annual Rate Base Growth (2022 - 2026) (Year-end rate base, $ in billions) ppl Plan CAGR (2022-2026): 5.6% Rate Base Growth Improving from 4% To >7% in Back Half of Plan 4.1% CAGR $25.2 $24.2 $3.6 $3.2 7.2% CAGR $30.1 $28.0 $26.2 $5.3 $4.7 $4.1 $13.8 $12.9 $11.7 $11.9 $12.1 $9.3 $9.7 2022 $10.0 $10.4 $11.0 2023 ■PA Regulated 2024 ■KY Regulated (1) RI Regulated (2) 2025 2026 Note: Totals may not sum due to rounding. (1) Reflects impact of projected capital expenditures related to replacement generation in Kentucky based upon LG&E's and KU's CPCN filing subject to KPSC approval. (2) Rhode Island rate base excludes acquisition-related adjustments for non-earning assets. 19
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