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Investor Presentaiton

Walk to Midpoint of 2023 Earnings Forecast Earnings Walk: 2022 ongoing earnings results to 2023 earnings forecast midpoint (Earnings per share) +$0.04 $1.41 Transmission Investment O&M Interest Expense 2022A Ongoing Earnings PA Regulated +$0.05 Jan-May(2) O&M Interest Expense Note: See Appendix for the reconciliation of reported earnings to earnings from ongoing operations. KY Regulated (1) ppl +$0.08 +$0.00 $1.58 O&M Interest Expense RI Regulated Corp. & Other (1) Reflects reallocation of Kentucky holding company financing costs from the Kentucky Regulated segment to Corporate and Other as a result of adjustments to segments beginning on January 1, 2023. See slide 12 for more details. Reflects the impact of a full year earnings in 2023 compared to 2022. Rhode Island Energy was acquired in May 2022. (2) (3) Represents the midpoint of PPL's 2023 earnings forecast range of $1.50 - $1.65 per share. Midpoint of 2023 Earnings Forecast (3) 11
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