MAAT INDEX

CLAIM #23489 · EXC (EXC) · 2025Q2 earnings call · Jul 31, 2025 · due Dec 31, 2028

The expansive work needed across all aspects of the grid gives us strong confidence in our 4-year outlook and beyond, investing $38 billion through 2028 with an additional $10 billion to $15 billion of transmission work identified beyond that to support our jurisdictions and most importantly, our customers.

Calvin Butler · CEO

PENDING
graded after results covering Dec 31, 2028 are reported

How to check this claim

Look at: Cumulative capital investment (capex) through the 4-year plan period, as disclosed by the company

It came true if: Cumulative capex 2025-2028 >= $36 billion (within ~5% of the stated $38 billion target)

Where: Company-disclosed capital investment plan (10-K, investor presentation, or earnings call commentary)

In context

ing firm at more than 17 gigawatts, and customers remain in our Q2 study, another 16 gigawatts of high probability load that we expect to formalize as part of our pipeline by the end of the year. In fact, we have also opened another cluster study window at ComEd closing in August in which several gigawatts worth of large load have indicated an interest in participating. And transmission solutions to connect this new load and generation to the grid are also advancing. We continue to be well positioned to be assigned over $1 billion of transmission work associated with the MISO Tranche 2.1 set of projects. And we now have the organizational structure and are developing strategic and financial partnerships necessary to take further advantage of our industry- leading position in transmission. The expansive work needed across all aspects of the grid gives us strong confidence in our 4-year outlook and beyond, investing $38 billion through 2028 with an additional $10 billion to $15 billion of transmission work identified beyond that to support our jurisdictions and most importantly, our customers. Success in winning competitively bid projects, which we have already proven we can do with the Tri-County line would offer even more upside. By earning a fair return on equity of 9% to 10% on a rate base growing at 7.4% through 2028 and financing that with a balanced capital strategy, we expect to grow our earnings at an annualized rate of 5% to 7%, with the expectation of delivering at the midpoint or better of that range. I will now turn it over to Jeanne to provide a more detailed update on our financial outlook and rate case activity. Jeanne? Jeanne M. Jones: Thank you, Calvin, and good morning, everyone. Today, I will cover our financial update for the second quarter and the progress on our current regulatory activity. Starting on Slide 5, we present our quarter-over-quarter adjusted

Verify independently

SEC filings for EXC · Claim quote is verbatim from the 2025Q2 earnings call.