Investor Presentaiton

Vistra's Long-term Strategy provides Value to all Stakeholders VISTRA Unlocking Vistra's earnings power to deliver increased shareholder returns and continued growth, by meeting the needs of our customers and communities Driving long-term, sustainable value through our integrated business that provides the stability to perform in dynamic macroenvironments and a reliable and affordable product to the citizens we serve Focusing on shareholder returns through an expected $6.25 billion of share repurchases and a targeted $300 million per year dividend through 20261 Actively managing our liquidity needs to support our hedging activities that help stabilize healthy yearly earnings in various pricing environments while ensuring balance sheet strength Achieving aggressive sustainability goals with our zero-carbon Vistra Zero pipeline (~3.4GW online today and another ~4GW planned, utilizing third-party capital to efficiently finance growth) and acquisition of ~4GW of additional nuclear with the Energy Harbor acquisition² 1. $4.25 billion of share repurchases authorized by Board and expected to be complete by year-end 2024; expect to allocate $1 billion in each of 2025 and 2026 subject to further board approvals and assuming stock prices continue to support share repurchases as an effective means of providing shareholder returns; quarterly dividends are subject to board approval each quarter 2. Energy Harbor acquisition announced March 6, 2023 and expected to close by year-end 2023 Vistra Investor Presentation/June 2023 5

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