NRG Energy (NRG) investor relations material

Voting matters and shareholder proposals

• Proposal No. 4 seeks approval of the 2026 Long-Term Incentive Plan, clarifying the annual limit on director awards and updating plan terms to align with market practices.

Executive compensation and say-on-pay

• The annual per-director award grant limit is increased from $750,000 to $1,000,000 for board service, reflecting common market practice.

• Awards to directors for executive or other service roles are not subject to the $1,000,000 limit.

• Accrued dividends and dividend equivalents are now paid only if and when the underlying award vests or restrictions lapse.

Board of directors and corporate governance

• The plan removes the ability for certain shares underlying awards to recycle back into the authorized share reserve, enhancing governance best practices.

• Administrative updates reflect changes in tax laws since the original plan's adoption.