1st Quarter Investor Update

1st Quarter Financing Activity Emphasizes the Value of PPL's Strong Credit Profile in a Volatile Market. Successfully executed 1st utility investment grade convertible debt deal since 2003 • • $1 billion of convertible debt at PPL Capital Funding Coupon ~250 bps lower than straight debt ➤ $2.2B of total debt issuances at PA and KY operating companies support capex plan and eliminate refinancing risk through 2024 ➤ Reduced floating rate debt exposure to ~$600M • Less than 5% of total debt portfolio Continue to forecast strong credit metrics · • Targeting 16% - 18% FFO/CFO to debt Holding Company debt to total debt at <25% ➤ No planned equity issuances Note PPL Capital Funding ppl Q1 2023 Financing Summary Principal Coupon Executed (1) Senior Notes Due 2028 PA Segment PPL Electric Utilities First Mortgage Bonds Due 2033 First Mortgage Bonds Due 2053 KY Segment LG&E First Mortgage Bonds Due 2033 Kentucky Utilities First Mortgage Bonds Due 2033 $1,000,000,000 2.875% 21-Feb-23 $600,000,000 5.000% 27-Feb-23 $750,000,000 5.250% 27-Feb-23 $400,000,000 5.450% 9-Mar-23 $400,000,000 5.450% 9-Mar-23 (1) Convertible Notes will be exchangeable at an initial exchange rate of 29.3432 shares of PPL common stock per $1,000, or at approximately $34.08 per share, which represents an exchange premium of approximately 22.5% to the last reported sale price of $27.82 per share of common stock on February 21, 2023. Upon exchange of the Notes, PPL will pay cash up to the aggregate principal amount of the Notes to be exchanged and pay or deliver (or cause to be delivered), as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at PPL's election, in respect of the remainder, if any, of its exchange obligation in excess of the aggregate principal amount of the Notes being exchanged. 10

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