The Southern Company (SO) investor relations material

Executive summary

• Achieved strong financial results in 2025, with adjusted EPS of $4.30 and 10% annual sales growth forecasted through 2030.

• Announced over $80 billion in planned investments over the next five years to modernize infrastructure and support projected demand growth.

• Maintained a customer-focused approach, keeping base rates stable in key subsidiaries and advancing energy efficiency and resilience initiatives.

• Recognized for industry leadership, innovation, and workforce development, with multiple awards and a focus on community engagement.

Voting matters and shareholder proposals

• Stockholders will vote to elect 12 directors, approve executive compensation (Say on Pay), ratify Deloitte & Touche as auditor, and consider four amendments to the Certificate of Incorporation (authorize additional common and preferred stock, officer exculpation, and modernization changes).

• Three shareholder proposals are on the agenda: independent board chairman, report on data center costs, and report on climate due diligence; the Board recommends voting against all three.

Board of directors and corporate governance

• Board comprises 12 nominees, 11 of whom are independent, with diverse skills in finance, technology, industry, and governance.

• Ongoing board refreshment, with six new directors since 2023 and an average tenure of six years.

• Annual board and committee self-evaluations, robust onboarding, and continuing education for directors.

• Majority voting standard for directors, proxy access, and no poison pill; strong stockholder engagement practices.