Public Service Enterprise Group (PEG) Investor presentation summary

Strategic vision and operational excellence

• Focus on sustainable energy, efficiency, and reliability, with best-in-class utility and nuclear performance in New Jersey and Long Island.

• PSE&G and PSEG Long Island achieved top customer satisfaction rankings in the East Region for both residential and business customers.

• Over 90% of capital allocation through 2030 directed to regulated investments, emphasizing infrastructure modernization and decarbonization.

• No new equity or asset sales required to fund the five-year capital plan through 2030, supported by a solid balance sheet and investment-grade ratings.

• Cost control and customer affordability remain priorities, with favorable regional bill comparisons and long-term downside price protection for nuclear assets.

Financial outlook and growth

• Long-term non-GAAP Operating Earnings growth outlook of 6%-8% through 2030, driven by PSE&G's regulated capital investment program.

• Updated capital plan of $24B-$28B for 2026-2030, with a rate base CAGR of 6%-7.5%.

• Indicative annual dividend rate of $2.68 per share for 2026, marking the 15th consecutive annual increase.

• 2026 non-GAAP Operating Earnings guidance of $4.28-$4.40 per share, representing ~7% growth over 2025.

• Five-year capital plan fully funded without new equity, maintaining strong credit metrics and financial flexibility.

Regulatory and policy alignment

• Settled key regulatory filings in 2024 and 2025, including GSMP III and Clean Energy Future - Energy Efficiency II, supporting $4.3B in new programs.

• Active engagement with New Jersey policymakers to support reliability, resource adequacy, and affordability.

• PSE&G supports proactive grid modernization and clean energy integration, including virtual power plant pilots and demand response initiatives.

• No increase in electric base rates for 2026 and a 5% reduction in residential gas heating bills effective October 2026.

• FERC and BPU rulings support customer refunds and grid modernization efforts.