1st Quarter Investor Update

Review of 1st Quarter Financial Results Ongoing Earnings Walk: Q1 2023 vs. Q1 2022 (Earnings per share) $0.41 2022A Q1 Ongoing Earnings +$0.01 +$0.10 +$0.00 ($0.04) O&M $0.01 Transmission Revenue $0.01 Interest Expense ($0.01) Distribution $0.01 Rider Recovery Sales Volumes (Primarily Weather) Interest Expense ($0.02) Other (1) Sales Volumes (Primarily Weather) ($0.04) Addition of RIE (2) Other (1) $0.01 $0.10 ($0.01) O&M $0.02 $0.01 Interest Expense ($0.01) Other (1) ($0.01) PA Regulated Note: See Appendix for the reconciliation of reported earnings to earnings from ongoing operations. (1) Reflects factors that were not individually significant. (2) RIERhode Island Energy. ppl $0.48 KY Regulated RI Regulated Corporate & Other 2023A Q1 Ongoing Earnings 9

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