FERC Issues New ROE Methodology Affecting PPL Subsidiary

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594, setting a new methodology for determining the return on equity (ROE) for New England transmission owners (NETOs) under the ISO New England tariff. The new base ROE is set at 9.57%, with a maximum including incentives not to exceed 12.09%, retroactive to October 16, 2014. This decision affects Rhode Island Energy (RIE), a wholly-owned subsidiary of PPL Corporation. PPL and RIE are evaluating next steps, which may include an appeal of the Order. PPL does not expect the Order's potentially relevant components to have a material impact on its operations or financial condition. The Company reaffirms its projected 2026 forecast range of $1.90 to $1.98 per share and annual earnings per share growth target of 6% to 8% with compound annual growth expected to be near the top end of the targeted range through at least 2029.

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About PPL Corporation

PPL Corporation is a prominent utility holding company with a primary focus on delivering electricity and natural gas services to a wide range of customers. Headquartered in Allentown, Pennsylvania, PPL Corporation operates through several subsidiaries, providing electricity to millions of residential, commercial, and industrial customers in the United States. The corporation's extensive network includes power generation facilities as well as transmission and distribution systems. PPL is actively involved in the energy sector, influencing both regional and national markets. It strives to maintain reliability and sustainability in its energy supply, with an increasing emphasis on incorporating renewable energy sources and improving grid resilience. The company's operations contribute significantly to the utility industry, impacting economic growth and energy security. Moreover, PPL Corporation plays a vital role in the energy market by investing in innovative technologies and infrastructure development aimed at enhancing energy efficiency and performance. Through strategic planning and a commitment to customer satisfaction, PPL Corporations continues to be a leading participant in the ever-evolving utilities landscape.