PPL (PPL) Proxy Filing summary

Executive summary

• Achieved strong 2024 performance, delivering safe, reliable, and affordable energy to 3.6 million customers and maintaining top-quartile reliability in key regions.

• Completed over $3 billion in infrastructure investments, advanced IT transformation, and integrated Rhode Island Energy.

• Ongoing earnings met the midpoint of the original 2024 forecast, with a 7% dividend increase and nearly 20% stock price growth.

• Advanced sustainability with new generation investments in Kentucky, including a 640 MW gas plant, 240 MW solar, and 125 MW battery storage by 2027.

Voting matters and shareholder proposals

• Shareholders will vote on: election of ten directors, advisory approval of executive compensation, ratification of Deloitte & Touche LLP as auditor, and a shareholder proposal for independent evaluation of greenhouse gas reduction targets.

• Board recommends voting FOR all management proposals and AGAINST the shareholder proposal.

Board of directors and corporate governance

• Board consists of ten directors, 90% independent, with an average tenure of 9.6 years and average age of 66.

• Board refreshment and diversity are emphasized, with a mix of skills in risk management, finance, operations, technology, and sustainability.

• Annual board and committee self-evaluations, mandatory retirement age of 75, and robust stock ownership guidelines are in place.

• Proxy access bylaw allows shareholders to nominate directors under certain conditions.