Investor Presentaiton

Transformative Energy Harbor Acquisition - Highlights VISTRA Vision Tradition Leading Zero Carbon Generation and Retail Integrated Platform: "Vistra Vision" . • VISTRA Announced March 6, 2023, the transaction will combine Energy Harbor's nuclear and retail businesses with Vistra's nuclear and retail businesses and Vistra Zero renewables and storage projects under a newly-formed subsidiary holding company, referred to generally as "Vistra Vision" Includes 6.4 GW of nuclear generation, ~5 million retail customers, and ~2.4 GW of online and near-term pipeline of renewable and storage assets Provides diversification and scale across multiple carbon-free technologies (dispatchable and renewables/storage) and the retail business Strong Value Proposition for Vistra Shareholders • Returns anticipated to exceed our investment thresholds; nuclear PTC provides significant downside protection, while maintaining opportunity to capture upside value in volatile markets ~$125 million of run-rate synergies expected by year-end 2025; demonstrated ability to deliver / exceed synergy targets Large scale integrated operations: zero-carbon Vistra Vision coupled with our highly efficient conventional fleet ("Vistra Tradition") Capital Allocation Plan Maintained, Including Return of Cash to Vistra Shareholders • • Creative transaction structure supports continued targeted return of at least $1.3 billion annually to shareholders VST Board approved an additional $1 billion of share repurchases, bringing the total authorization to $4.25 billion; plan to execute the remaining $1.8 billion by year-end 2024 Expect to execute at least $1 billion of share repurchases in each of 2025 and 2026; common stock dividends targeted at $300 million per year¹ 1. Subject to board approvals. Vistra Investor Presentation/June 2023 8

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