Investor Presentaiton

Executive Summary Vertically integrated, single state, rate regulated utility combined with a heavily contracted unregulated subsidiary produces stable, sustainable cash flow Stable Financial Profile Constructive Regulatory Environment Heavily Contracted Unregulated Subsidiary Attractive Investment Pipeline Approximately 75% of net cash generated from stable, rate regulated utility Balance of cash generated by heavily contracted unregulated operations Rate Case Settlement Drives Revenue Stability Through 2024 • Includes riders for investment and cost recovery; includes increased equity capitalization Provides incentive for cost reduction with ability to earn up to 10.2% ROE(¹) Storm Cost Securitization Enables Expedited Cost Recovery • • Interim storm cost relief recovery commenced June 1, 2021 Securitization of storm cost recovery proceeding underway; interim financing in place Winter Storm Fuel and Purchased Power Costs Fully Recoverable . • Currently being recovered through Fuel Adjustment Clause Bulk of Cleco Cajun output under contract through April 2025; re-contracting efforts underway Pipeline of investment to ensure high-quality customer service while maintaining affordable rates • Ended mining at Dolet Hills Power Station; intent to retire plant by year end 2021 • Transition Away from Fossil Fuels Coordinating Integrated Resource Plan with the Louisiana Public Service Commission ("LPSC") with potential for expanding renewable footprint • Teche 3 slated for retirement(2) • Commitment to end solid fuel use at Big Cajun II Unit 1 by 2025; Sterlington plant retired (3) Cleco generates steady, stable cash flow in a constructive regulatory environment (1) Rate case settlement incorporates ability to earn up to 10.0% ROE prior to customer sharing and 10.2% with customer sharing Teche 3 slated to retire by year end 2022 CLECO (2) Connecting Louisiana's future. (3) Retired year end 2020 3

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