Investor Presentaiton

Financial Highlights 2022 Financial Results Ongoing Operations ($ millions) Capital Allocation Plan Update • Executed $2.70 billion through May 4, 2023 VISTRA Adjusted $3,115 EBITDA¹ Adjusted FCFbG¹ $2,399 2023 Initiated Guidance Share Repurchase Program • Common Dividend • • • Ongoing Operations ($ millions) Adjusted $3,400 $4,000 EBITDA¹ Balance Sheet Strength • Adjusted FCFbG1 $1,750 - $2,350 Energy Transition4 1 • Remaining ~$1.55 billion of authorization expected to be spent by year-end 2024 Aggregate share repurchases through 2026 targeted at an upsized $6.25 billion² Share count of ~373 million as of May 4, 2023, ~23% reduction since program was announced Targeting $300 million in dividends annually Quarterly common dividend of $0.204 per share to be paid on June 30, 2023 (~15% increase over Q2 2022 dividend) Expect dividend growth each quarter by way of a consistent reduction in share count Continued focus on long-term net leverage target of less than 3x3 Decreased short-term debt by ~$500 million in the first quarter 2023 Use of equity as partial consideration for Energy Harbor acquisition demonstrates commitment to a strong balance sheet Bridge financing for the Energy Harbor acquisition is in place; permanent financing expected prior to closing Over 90% of net proceeds from $1 billion green preferred stock allocated to eligible projects as of Mar. 31, 2023; remaining amount expected to be allocated by Q2 2023 Non-recourse financing at Vistra Zero expected in second half of 2023 Ongoing Operations Adj. EBITDA and Ongoing Operations Adj. FCFBG are non-GAAP financial measures. See "Non-GAAP Reconciliation" tables at the end of this presentation for further details. Vistra Investor Presentation/June 2023 13

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