PPL (PPL) investor relations material

Executive summary

• Annual meeting scheduled for May 13, 2026, with virtual participation and voting options for shareholders.

• 2025 marked strong operational and financial performance, including top-tier reliability, $4.4 billion in infrastructure investments, and a 6% dividend increase over 2024.

• Ongoing execution of a “utility of the future” strategy, emphasizing grid modernization, smart technology, and sustainability.

• Joint venture with Blackstone Infrastructure to address rising electricity demand from data centers, aligning new generation with new demand.

• Achieved $170 million in annual O&M savings compared to 2021, supporting affordability.

Voting matters and shareholder proposals

• Election of nine directors for one-year terms.

• Advisory vote on executive compensation (say-on-pay).

• Approval of the Second Amended and Restated 2012 Stock Incentive Plan, increasing share reserve and extending plan term.

• Ratification of Deloitte & Touche LLP as independent auditor for 2026.

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board comprises nine nominees with diverse backgrounds and skills in risk management, finance, operations, technology, and sustainability.

• 90% director independence; independent Chair of the Board.

• Annual board and committee self-evaluations; 100% attendance at meetings in 2025.

• Board refreshment ongoing, with new committee leadership and targeted succession planning.

• Proxy access bylaw allows significant shareholders to nominate directors.