News Release Media Contact: Gillian Moore 24-Hour: 800.559.3853 Analyst Contact: Abby Motsinger Office: 704.382.7624 May 6, 2025 Duke Energy reports first-quarter 2025 financial results ▪ First-quarter 2025 reported and adjusted EPS of $1.76 ▪ Strong start to the year, driven by revenue growth across Electric and Gas utilities ▪ Company advancing new generation to serve growing energy demand CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today announced first-quarter 2025 reported EPS, prepared in accordance with Generally Accepted Accounting Principles (GAAP), and adjusted EPS of $1.76. This is compared to reported and adjusted EPS of $1.44 for the first quarter of 2024. Adjusted EPS excludes the impact of certain items that are included in reported EPS. Higher first-quarter 2025 adjusted results were driven by higher retail sales volumes and implementation of new rates and riders as well as improved weather, partially offset by higher interest expense and O&M expenses. The company is reaffirming its 2025 adjusted EPS guidance range of $6.17 to $6.42 and long-term adjusted EPS growth rate of 5% to 7% through 2029 off the 2025 midpoint of $6.30. Management does not forecast reported GAAP EPS and related long-term growth rates. “I am incredibly proud of our performance in the first quarter, which is a result of the constructive regulatory outcomes the team has delivered over the last several years,” said Harry Sideris, Duke Energy president and chief executive officer. "The fundamentals of the company are stronger than ever, positioning us extraordinarily well to meet our customers' growing and evolving energy demands – now and into the future.” Duke Energy News Release 2 Business segment results In addition to the following summary of first-quarter 2025 business segment performance, comprehensive tables with detailed EPS drivers for the first quarter compared to prior year are provided at the end of this news release. The discussion below of first-quarter results includes both GAAP segment income and adjusted segment income, which is a non-GAAP financial measure. For the quarters ended March 31, 2025, and 2024, reported segment income and adjusted segment income were equal for each of Duke Energy's business segments and Other. The tables at the end of this news release present a full reconciliation of GAAP reported results to adjusted results. Electric Utilities and Infrastructure Electric Utilities and Infrastructure recognized first-quarter 2025 segment income of $1,276 million, compared to segment income of $1,021 million in the first quarter of 2024. This represents an increase of $0.33 per share. Higher quarterly results were primarily due to higher retail sales volumes, improved weather and implementation of new rates, partially offset by higher interest expense, O&M expense and depreciation on a growing asset base. Gas Utilities and Infrastructure Gas Utilities and Infrastructure recognized first-quarter 2025 segment income of $349 million, compared to segment income of $284 million in the first quarter of 2024. This represents an increase of $0.08 per share. Higher quarterly results were primarily due to growth from rate increases, partially offset by higher depreciation on a growing asset base. Other Other primarily includes interest expense on holding company debt, other unallocated corporate costs and results from Duke Energy’s captive insurance company. Other recognized a first-quarter 2025 segment loss of $260 million, compared to segment loss of $203 million in the first quarter of 2024. This represents a decrease of $0.08 per share. Lower quarterly results were primarily due to higher interest expense and lower returns on investments. Effective tax rate Duke Energy's consolidated reported effective tax rate for the first quarter of 2025 was 12.1% compared to 13.4% in the first quarter of 2024. The decrease in the effective tax rate was primarily due to an increase in the amortization of income tax credits. Duke Energy's consolidated adjusted effective tax rate was 12.2% for the first quarter of 2025 compared to 13.7% in the first quarter of 2024. The decrease in the adjusted effective tax rate was primarily due to an increase in the amortization of income tax credits and a decrease in preferred dividends. The tables at the end of this news release present a reconciliation of the reported effective tax rate to the adjusted effective tax rate. Duke Energy News Release 3 Earnings conference call for analysts An earnings conference call for analysts is scheduled at 10 a.m. ET today to discuss first-quarter 2025 financial results and other business and financial updates. The conference call will be hosted by Harry Sideris, president and chief executive officer, and Brian Savoy, executive vice president and chief financial officer. The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy’s website or by dialing 833.470.1428 in the U.S. or 929.526.1599 outside the U.S. The confirmation code is 197083. Please call in 10 to 15 minutes prior to the scheduled start time. Special Items and Non-GAAP Reconciliation The following table presents a reconciliation of GAAP reported earnings (loss) per share to adjusted earnings per share for first-quarter 2025 and 2024 financial results: (In millions, except per share amounts) After-Tax Amount 1Q 2025 EPS 1Q 2024 EPS Earnings Per Share, as reported $ 1.76 $ 1.44 Adjustments to reported EPS: First Quarter 2025 Discontinued Operations — — First Quarter 2024 Discontinued Operations 3 — Total adjustments $ — $ — EPS, adjusted $ 1.76 $ 1.44 Non-GAAP financial measures Management evaluates financial performance in part based on non-GAAP financial measures, including adjusted earnings, adjusted EPS and adjusted effective tax rate. Adjusted earnings and adjusted EPS represent income (loss) from continuing operations available to Duke Energy Corporation common stockholders in dollar and basic per share amounts, adjusted for the dollar and per share impact of special items. The adjusted effective tax rate is calculated using pretax earnings and income tax expense, both adjusted to include the impact of noncontrolling interests and preferred dividends and to exclude the impact of special items. Special items include certain charges and credits, which management believes are not indicative of Duke Energy's ongoing performance. Management uses these non-GAAP financial measures for planning and forecasting, and for reporting financial results to the Board of Directors, employees, stockholders, analysts and investors. The most directly comparable GAAP measures for adjusted earnings, adjusted EPS and the adjusted effective tax rate are Net Income (Loss) Available to Duke Energy Corporation common stockholders (GAAP reported earnings (loss)), Basic earnings (loss) per share Available to Duke Energy Corporation common stockholders (GAAP reported earnings (loss) per share), and the reported effective tax rate, respectively. There were no special items included in the periods presented. Duke Energy News Release 4 Due to the forward-looking nature of any forecasted adjusted earnings guidance, information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to project all special items for future periods (such as legal settlements, the impact of regulatory orders or asset impairments). Management evaluates segment performance based on segment income and other net loss. Segment income and other net loss are defined as income (loss) from continuing operations net of income attributable to noncontrolling interests and preferred stock dividends. Segment income and other net loss include intercompany revenues and expenses that are eliminated in the Condensed Consolidated Financial Statements. Management also uses adjusted segment income and adjusted other net loss as measures of historical and anticipated future segment performance. Adjusted segment income and adjusted other net loss are non-GAAP financial measures, as they are based upon segment income and other net loss adjusted for special items, as discussed above. Management believes the presentation of adjusted segment income and adjusted other net loss provides useful information to investors, as they provide an additional relevant comparison of a segment’s or Other's performance across periods. The most directly comparable GAAP measure for adjusted segment income or adjusted other net loss is segment income and other net loss. Due to the forward-looking nature of any forecasted adjusted segment income or adjusted other net loss and any related growth rates for future periods, information to reconcile these non-GAAP financial measures to the most directly comparable GAAP financial measures is not available at this time, as management is unable to forecast all special items, as discussed above. Duke Energy’s adjusted earnings, adjusted EPS, adjusted segment income, and adjusted other net loss may not be comparable to similarly titled measures of another company because other companies may not calculate the measures in the same manner. Duke Energy Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. Duke Energy News Release 5 Forward-Looking Information This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’s beliefs and assumptions and can often be identified by terms and phrases that include “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,” “target,” “guidance,” “outlook” or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: ◦ The ability to implement our business strategy, including meeting forecasted load growth demand, grid and fleet modernization objectives, and our carbon emission reduction goals, while balancing customer reliability and affordability; ◦ State, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements and/or uncertainty of applicability or changes to such legislative and regulatory initiatives, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; ◦ The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; ◦ The ability to timely recover eligible costs, including amounts associated with coal ash impoundment retirement obligations, asset retirement and construction costs related to carbon emissions reductions, and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process; ◦ The costs of decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; ◦ The impact of extraordinary external events, such as a global pandemic or military conflict, and their collateral consequences, including the disruption of global supply chains or the economic activity in our service territories; ◦ Costs and effects of legal and administrative proceedings, settlements, investigations and claims; ◦ Industrial, commercial and residential decline in service territories or customer bases resulting from sustained downturns of the economy, storm damage, reduced customer usage due to cost pressures from inflation, tariffs, or fuel costs, worsening economic health of our service territories, reductions in customer usage patterns, or lower than anticipated load growth, particularly if usage of electricity by data centers is less than currently projected, energy efficiency efforts, natural gas building and appliance electrification, and use of alternative energy sources, such as self-generation and distributed generation technologies; ◦ Federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures, natural gas electrification, and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in a reduced number of customers, excess generation resources as well as stranded costs; ◦ Advancements in technology, including artificial intelligence; ◦ Additional competition in electric and natural gas markets and continued industry consolidation; ◦ The influence of weather and other natural phenomena on operations, financial position, and cash flows, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; ◦ Changing or conflicting investor, customer and other stakeholder expectations and demands, particularly regarding environmental, social and governance matters and costs related thereto; ◦ The ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the United States electric grid or generating resources; ◦ Operational interruptions to our natural gas distribution and transmission activities; Duke Energy News Release 6 ◦ The availability of adequate interstate pipeline transportation capacity and natural gas supply; ◦ The impact on facilities and business from a terrorist or other attack, war, vandalism, cybersecurity threats, data security breaches, operational events, information technology failures or other catastrophic events, such as severe storms, fires, explosions, pandemic health events or other similar occurrences; ◦ The inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; ◦ The timing and extent of changes in commodity prices, including any impact from increased tariffs and interest rates, and the ability to timely recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; ◦ The results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions, an individual utility’s generation portfolio, and general market and economic conditions; ◦ Credit ratings of the Duke Energy Registrants may be different from what is expected; ◦ Declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds; ◦ Construction and development risks associated with the completion of the Duke Energy Registrants’ capital investment projects, including risks related to financing, timing and receipt of necessary regulatory approvals, obtaining and complying with terms of permits, meeting construction budgets and schedules and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; ◦ Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; ◦ The ability to control operation and maintenance costs; ◦ The level of creditworthiness of counterparties to transactions; ◦ The ability to obtain adequate insurance at acceptable costs and recover on claims made; ◦ Employee workforce factors, including the potential inability to attract and retain key personnel; ◦ The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); ◦ The performance of projects undertaken by our businesses and the success of efforts to invest in and develop new opportunities; ◦ The effect of accounting and reporting pronouncements issued periodically by accounting standard-setting bodies and the SEC; ◦ The impact of United States tax legislation to our financial condition, results of operations or cash flows and our credit ratings; ◦ The impacts from potential impairments of goodwill or investment carrying values; ◦ Asset or business acquisitions and dispositions may not yield the anticipated benefits; and ◦ The actions of activist shareholders could disrupt our operations, impact our ability to execute on our business strategy, or cause fluctuations in the trading price of our common stock. Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. DUKE ENERGY CORPORATION REPORTED TO ADJUSTED EARNINGS RECONCILIATION Three Months Ended March 31, 2025 (Dollars in millions, except per share amounts) Reported Earnings Discontinued Operations Total Adjustments Adjusted Earnings SEGMENT INCOME (LOSS) Electric Utilities and Infrastructure $ 1,276 $ — $ — $ 1,276 Gas Utilities and Infrastructure 349 — — 349 Total Reportable Segment Income 1,625 — — 1,625 Other (260) — — (260) Net Income Available to Duke Energy Corporation Common Stockholders $ 1,365 $ — $ — $ 1,365 EPS AVAILABLE TO DUKE ENERGY CORPORATION COMMON STOCKHOLDERS $ 1.76 $ — $ — $ 1.76 Weighted Average Shares, basic (reported and adjusted) – 777 million 7 DUKE ENERGY CORPORATION REPORTED TO ADJUSTED EARNINGS RECONCILIATION Three Months Ended March 31, 2024 (Dollars in millions, except per share amounts) Reported Earnings Discontinued Operations Total Adjustments Adjusted Earnings SEGMENT INCOME (LOSS) Electric Utilities and Infrastructure $ 1,021 $ — $ — $ 1,021 Gas Utilities and Infrastructure 284 — — 284 Total Reportable Segment Income 1,305 — — 1,305 Other (203) — — (203) Discontinued Operations (3) 3 A 3 — Net Income Available to Duke Energy Corporation Common Stockholders $ 1,099 $ 3 $ 3 $ 1,102 EPS AVAILABLE TO DUKE ENERGY CORPORATION COMMON STOCKHOLDERS $ 1.44 $ — $ — $ 1.44 Note: Earnings Per Share amounts are adjusted for accumulated dividends for Series B Preferred Stock of $0.02. A – Recorded in Loss from Discontinued Operations, net of tax, on the Condensed Consolidated Statements of Operations. Weighted Average Shares, basic (reported and adjusted) – 771 million 8 DUKE ENERGY CORPORATION EFFECTIVE TAX RECONCILIATION March 2025 (Dollars in millions) Three Months Ended March 31, 2025 Balance Effective Tax Rate Reported Income From Continuing Operations Before Income Taxes $ 1,597 Noncontrolling Interests (28) Preferred Dividends (14) Adjusted Pretax Income $ 1,555 Reported Income Tax Expense From Continuing Operations $ 193 12.1 % Noncontrolling Interest Portion of Income Taxes (a) (3) Adjusted Tax Expense $ 190 12.2 % Three Months Ended March 31, 2024 Balance Effective Tax Rate Reported Income From Continuing Operations Before Income Taxes $ 1,332 Noncontrolling Interests (16) Preferred Dividends (39) Adjusted Pretax Income $ 1,277 Reported Income Tax Expense From Continuing Operations $ 178 13.4 % Noncontrolling Interest Portion of Income Taxes (a) (3) Adjusted Tax Expense $ 175 13.7 % (a) Income tax related to non-pass-through entities for tax purposes. 9 DUKE ENERGY CORPORATION EARNINGS VARIANCES March 2025 YTD vs. Prior Year (Dollars per share) Electric Utilities and Infrastructure Gas Utilities and Infrastructure Other Consolidated 2024 YTD Reported and Adjusted Earnings Per Share $ 1.32 $ 0.37 $ (0.25) $ 1.44 Weather 0.07 — — 0.07 Volume 0.12 — — 0.12 Riders and Other Retail Margin (a) 0.08 0.02 — 0.10 Rate case impacts, net (b) 0.14 0.07 — 0.21 Wholesale (c) 0.03 — — 0.03 Operations and maintenance, net of recoverables (d) (0.04) — — (0.04) Interest Expense (e) (0.04) — (0.04) (0.08) AFUDC Equity 0.02 — — 0.02 Depreciation and amortization (e) (0.02) (0.01) — (0.03) Other (f) (0.03) — (0.04) (0.07) Total variance $ 0.33 $ 0.08 $ (0.08) $ 0.33 Change in share count (0.01) — — (0.01) 2025 YTD Reported and Adjusted Earnings Per Share $ 1.64 $ 0.45 $ (0.33) $ 1.76 Note: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate for all drivers. Basic weighted average shares outstanding increased from 771 million to 777 million. (a) Electric Utilities and Infrastructure includes higher grid modernization riders and transmission revenues (+0.04). (b) Electric Utilities and Infrastructure includes impacts from DEC North Carolina Year 2 rates, effective January 2025, and DEC South Carolina rates, effective August 2024 (+$0.07), DEF multiyear rate plan revenue increases, effective January 2025 (+$0.05) and DEP North Carolina Year 2 rates, effective October 2024 (+$0.02). Gas Utilities and Infrastructure includes impacts from Piedmont rates, effective November 2024. (c) Primarily due to higher capacity volumes. (d) Electric Utilities and Infrastructure includes higher corporate costs, storm costs and employee-related expenses in the current year. (e) Electric Utilities and Infrastructure excludes rate case impacts. (f) Other includes lower returns on investments. 10 DUKE ENERGY CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except per share amounts) Three Months Ended March 31, 2025 2024 Operating Revenues Regulated electric $ 7,064 $ 6,732 Regulated natural gas 1,105 866 Nonregulated electric and other 80 73 Total operating revenues 8,249 7,671 Operating Expenses Fuel used in electric generation and purchased power 2,099 2,335 Cost of natural gas 374 232 Operation, maintenance and other 1,499 1,380 Depreciation and amortization 1,512 1,387 Property and other taxes 428 386 Total operating expenses 5,912 5,720 Gains on Sales of Other Assets and Other, net 6 12 Operating Income 2,343 1,963 Other Income and Expenses Equity in earnings of unconsolidated affiliates 11 17 Other income and expenses, net 132 169 Total other income and expenses 143 186 Interest Expense 889 817 Income From Continuing Operations Before Income Taxes 1,597 1,332 Income Tax Expense From Continuing Operations 193 178 Income From Continuing Operations 1,404 1,154 Loss From Discontinued Operations, net of tax — (3) Net Income 1,404 1,151 Less: Net Income Attributable to Noncontrolling Interests 25 13 Net Income Attributable to Duke Energy Corporation 1,379 1,138 Less: Preferred Dividends 14 39 Net Income Available to Duke Energy Corporation Common Stockholders $ 1,365 $ 1,099 Earnings Per Share – Basic and Diluted Net income available to Duke Energy Corporation common stockholders Basic and Diluted $ 1.76 $ 1.44 Weighted average shares outstanding Basic and Diluted 777 771 11 DUKE ENERGY CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions) March 31, 2025 December 31, 2024 ASSETS Current Assets Cash and cash equivalents $ 475 $ 314 Receivables (net of allowance for doubtful accounts of $204 at 2025 and $124 at 2024) 3,996 2,232 Receivables of VIEs (net of allowance for doubtful accounts of $85 at 2024) 10 1,889 Receivable from sales of Commercial Renewables Disposal Groups 558 551 Inventory (includes $509 at 2025 and $494 at 2024 related to VIEs) 4,418 4,509 Regulatory assets (includes $120 at 2025 and 2024 related to VIEs) 2,538 2,756 Assets held for sale — 4 Other (includes $57 at 2025 and $90 at 2024 related to VIEs) 780 695 Total current assets 12,775 12,950 Property, Plant and Equipment Cost 183,546 180,806 Accumulated depreciation and amortization (58,672) (57,503) Net property, plant and equipment 124,874 123,303 Other Noncurrent Assets Goodwill 19,303 19,303 Regulatory assets (includes $1,674 at 2025 and $1,705 at 2024 related to VIEs) 14,200 14,254 Nuclear decommissioning trust funds 11,246 11,434 Operating lease right-of-use assets, net 1,219 1,148 Investments in equity method unconsolidated affiliates 357 353 Assets held for sale — $ 89 Other 3,502 3,509 Total other noncurrent assets 49,827 50,090 Total Assets $ 187,476 $ 186,343 LIABILITIES AND EQUITY Current Liabilities Accounts payable (includes $207 at 2025 and $214 at 2024 related to VIEs) $ 4,442 $ 5,479 Notes payable and commercial paper 2,568 3,584 Taxes accrued 794 851 Interest accrued 821 855 Current maturities of long-term debt (includes $110 at 2025 and $1,012 at 2024 related to VIEs) 4,180 4,349 Asset retirement obligations 643 650 Regulatory liabilities 1,298 1,425 Liabilities associated with assets held for sale 18 80 Other 1,861 2,084 Total current liabilities 16,625 19,357 Long-Term Debt (includes $1,783 at 2025 and $1,842 at 2024 related to VIEs) 79,700 76,340 Other Noncurrent Liabilities Deferred income taxes 11,609 11,424 Asset retirement obligations 9,350 9,342 Regulatory liabilities 14,466 14,694 Operating lease liabilities 1,033 957 Accrued pension and other post-retirement benefit costs 426 434 Investment tax credits 888 894 Liabilities associated with assets held for sale — $ 89 Other (includes $27 at 2024 related to VIEs) 1,585 1,556 Total other noncurrent liabilities 39,357 39,390 Commitments and Contingencies Equity Preferred stock, Series A, $0.001 par value, 40 million depositary shares authorized and outstanding at 2025 and 2024 973 973 Common stock, $0.001 par value, 2 billion shares authorized; 777 million and 776 million shares outstanding at 2025 and 2024 1 1 Additional paid-in capital 45,516 45,494 Retained earnings 3,986 3,431 Accumulated other comprehensive income 194 228 Total Duke Energy Corporation stockholders' equity 50,670 50,127 Noncontrolling interests 1,124 1,129 Total equity 51,794 51,256 Total Liabilities and Equity $ 187,476 $ 186,343 12 DUKE ENERGY CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) Three Months Ended March 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net Income $ 1,404 $ 1,151 Adjustments to reconcile net income to net cash provided by operating activities 773 1,323 Net cash provided by operating activities 2,177 2,474 CASH FLOWS FROM INVESTING ACTIVITIES Net cash used in investing activities (3,300) (3,342) CASH FLOWS FROM FINANCING ACTIVITIES Net cash provided by financing activities 1,238 1,029 Net increase in cash, cash equivalents and restricted cash 115 161 Cash, cash equivalents and restricted cash at beginning of period 421 357 Cash, cash equivalents and restricted cash at end of period $ 536 $ 518 13 DUKE ENERGY CORPORATION CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31, 2025 (In millions) Electric Utilities and Infrastructure Gas Utilities and Infrastructure Other Eliminations/Adjustments Duke Energy Operating Revenues Regulated electric $ 7,079 $ — $ — $ (15) $ 7,064 Regulated natural gas — 1,129 — (24) 1,105 Nonregulated electric and other 61 11 42 (34) 80 Total operating revenues 7,140 1,140 42 (73) 8,249 Operating Expenses Fuel used in electric generation and purchased power 2,119 — — (20) 2,099 Cost of natural gas — 374 — — 374 Operation, maintenance and other 1,424 125 2 (52) 1,499 Depreciation and amortization 1,334 107 77 (6) 1,512 Property and other taxes 378 47 3 — 428 Total operating expenses 5,255 653 82 (78) 5,912 Gains on Sales of Other Assets and Other, net 1 — 5 — 6 Operating Income 1,886 487 (35) 5 2,343 Other Income and Expenses Equity in earnings of unconsolidated affiliates — 5 6 — 11 Other income and expenses, net 134 13 14 (29) 132 Total Other Income and Expenses 134 18 20 (29) 143 Interest Expense 530 65 318 (24) 889 Income (Loss) from Continuing Operations before Income Taxes 1,490 440 (333) — 1,597 Income Tax Expense (Benefit) from Continuing Operations 189 91 (87) — 193 Income (Loss) from Continuing Operations 1,301 349 (246) — 1,404 Less: Net Income Attributable to Noncontrolling Interest 25 — — — 25 Net Income (Loss) Attributable to Duke Energy Corporation 1,276 349 (246) — 1,379 Less: Preferred Dividends — — 14 — 14 Segment Income/Other Net Loss $ 1,276 $ 349 $ (260) $ — $ 1,365 Discontinued Operations — Net Income Available to Duke Energy Corporation Common Stockholders $ 1,365 14 DUKE ENERGY CORPORATION CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31, 2024 (In millions) Electric Utilities and Infrastructure Gas Utilities and Infrastructure Other Eliminations/Adjustments Duke Energy Operating Revenues Regulated electric $ 6,750 $ — $ — $ (18) $ 6,732 Regulated natural gas — 889 — (23) 866 Nonregulated electric and other 53 13 38 (31) 73 Total operating revenues 6,803 902 38 (72) 7,671 Operating Expenses Fuel used in electric generation and purchased power 2,355 — — (20) 2,335 Cost of natural gas — 232 — — 232 Operation, maintenance and other 1,317 129 (18) (48) 1,380 Depreciation and amortization 1,225 98 71 (7) 1,387 Property and other taxes 337 46 3 — 386 Total operating expenses 5,234 505 56 (75) 5,720 Gains on Sales of Other Assets and Other, net 6 — 5 1 12 Operating Income 1,575 397 (13) 4 1,963 Other Income and Expenses Equity in earnings of unconsolidated affiliates 1 — 17 (1) 17 Other income and expenses, net 130 17 62 (40) 169 Total Other Income and Expenses 131 17 79 (41) 186 Interest Expense 499 61 294 (37) 817 Income (Loss) from Continuing Operations before Income Taxes 1,207 353 (228) — 1,332 Income Tax Expense (Benefit) from Continuing Operations 173 69 (64) — 178 Income (Loss) from Continuing Operations 1,034 284 (164) — 1,154 Less: Net Income Attributable to Noncontrolling Interest 13 — — — 13 Net Income (Loss) Attributable to Duke Energy Corporation 1,021 284 (164) — 1,141 Less: Preferred Dividends — — 39 — 39 Segment Income/Other Net Loss $ 1,021 $ 284 $ (203) $ — $ 1,102 Discontinued Operations (3) Net Income Available to Duke Energy Corporation Common Stockholders $ 1,099 15 DUKE ENERGY CORPORATION CONDENSED CONSOLIDATING BALANCE SHEETS – ASSETS (Unaudited) March 31, 2025 (In millions) Electric Utilities and Infrastructure Gas Utilities and Infrastructure Other (a) Eliminations/ Adjustments Duke Energy Current Assets Cash and cash equivalents $ 133 $ 20 $ 322 $ — $ 475 Receivables, net 3,495 493 10 (2) 3,996 Receivables of variable interest entities, net 10 — — — 10 Receivables from affiliated companies 163 149 1,230 (1,542) — Receivable from sales of Commercial Renewables Disposal Groups — — 558 — 558 Notes receivable from affiliated companies 1,066 5 98 (1,169) — Inventory 4,304 76 37 1 4,418 Regulatory assets 2,336 114 88 — 2,538 Other 495 20 363 (98) 780 Total current assets 12,002 877 2,706 (2,810) 12,775 Property, Plant and Equipment Cost 162,406 17,979 3,239 (78) 183,546 Accumulated depreciation and amortization (52,992) (3,712) (1,967) (1) (58,672) Net property, plant and equipment 109,414 14,267 1,272 (79) 124,874 Other Noncurrent Assets Goodwill 17,379 1,924 — — 19,303 Regulatory assets 12,859 825 516 — 14,200 Nuclear decommissioning trust funds 11,246 — — — 11,246 Operating lease right-of-use assets, net 812 4 404 (1) 1,219 Investments in equity method unconsolidated affiliates 28 185 145 (1) 357 Investment in consolidated subsidiaries 479 6 76,037 (76,522) — Other 2,456 310 1,359 (623) 3,502 Total other noncurrent assets 45,259 3,254 78,461 (77,147) 49,827 Total Assets 166,675 18,398 82,439 (80,036) 187,476 Segment reclassifications, intercompany balances and other (1,881) (165) (77,990) 80,036 — Segment Assets $ 164,794 $ 18,233 $ 4,449 $ — $ 187,476 (a) Includes amounts in held for sale accounts related to the Commercial Renewables Disposal Groups. 16 DUKE ENERGY CORPORATION CONDENSED CONSOLIDATING BALANCE SHEETS – LIABILITIES AND EQUITY (Unaudited) March 31, 2025 (In millions) Electric Utilities and Infrastructure Gas Utilities and Infrastructure Other (a) Eliminations/ Adjustments Duke Energy Current Liabilities Accounts payable $ 3,579 $ 275 $ 588 $ — $ 4,442 Accounts payable to affiliated companies 963 49 403 (1,415) — Notes payable to affiliated companies 21 659 489 (1,169) — Notes payable and commercial paper — — 2,568 — 2,568 Taxes accrued 766 164 (135) (1) 794 Interest accrued 516 60 246 (1) 821 Current maturities of long-term debt 2,018 314 1,855 (7) 4,180 Asset retirement obligations 643 — — — 643 Regulatory liabilities 1,273 26 — (1) 1,298 Liabilities associated with assets held for sale — — 18 — 18 Other 1,414 83 587 (223) 1,861 Total current liabilities 11,193 1,630 6,619 (2,817) 16,625 Long-Term Debt 49,368 4,654 25,750 (72) 79,700 Long-Term Debt Payable to Affiliated Companies 618 7 — (625) — Other Noncurrent Liabilities Deferred income taxes 11,948 1,512 (1,851) — 11,609 Asset retirement obligations 9,258 92 — — 9,350 Regulatory liabilities 13,233 1,203 31 (1) 14,466 Operating lease liabilities 741 3 289 — 1,033 Accrued pension and other post-retirement benefit costs 192 29 204 1 426 Investment tax credits 887 1 — — 888 Other 1,027 172 575 (189) 1,585 Total other noncurrent liabilities 37,286 3,012 (752) (189) 39,357 Equity Total Duke Energy Corporation stockholders' equity 67,090 9,092 50,822 (76,334) 50,670 Noncontrolling interests 1,120 3 — 1 1,124 Total equity 68,210 9,095 50,822 (76,333) 51,794 Total Liabilities and Equity 166,675 18,398 82,439 (80,036) 187,476 Segment reclassifications, intercompany balances and other (1,881) (165) (77,990) 80,036 — Segment Liabilities and Equity $ 164,794 $ 18,233 $ 4,449 $ — $ 187,476 (a) Includes amounts in held for sale accounts related to the Commercial Renewables Disposal Groups. 17 ELECTRIC UTILITIES AND INFRASTRUCTURE CONDENSED CONSOLIDATING SEGMENT INCOME (Unaudited) Three Months Ended March 31, 2025 (In millions) Duke Energy Carolinas Duke Energy Progress Duke Energy Florida Duke Energy Ohio (a) Duke Energy Indiana Eliminations/ Other Electric Utilities and Infrastructure Operating Revenues $ 2,524 $ 2,018 $ 1,444 $ 487 $ 858 $ (191) $ 7,140 Operating Expenses Fuel used in electric generation and purchased power 803 725 381 149 260 (199) 2,119 Operation, maintenance and other 474 391 282 92 193 (8) 1,424 Depreciation and amortization 432 357 274 76 192 3 1,334 Property and other taxes 102 60 112 86 18 — 378 Total operating expenses 1,811 1,533 1,049 403 663 (204) 5,255 Gains on Sales of Other Assets and Other, net — — 1 — — — 1 Operating Income 713 485 396 84 195 13 1,886 Other Income and Expenses, net (b) 61 39 21 4 10 (1) 134 Interest Expense 200 128 118 31 60 (7) 530 Income Before Income Taxes 574 396 299 57 145 19 1,490 Income Tax Expense 53 58 60 9 18 (9) 189 Less: Net Income Attributable to Noncontrolling Interest (c) — — — — — 25 25 Segment Income $ 521 $ 338 $ 239 $ 48 $ 127 $ 3 $ 1,276 (a) Includes results of the wholly owned subsidiary, Duke Energy Kentucky. (b) Includes an equity component of allowance for funds used during construction of $32 million for Duke Energy Carolinas, $19 million for Duke Energy Progress, $5 million for Duke Energy Florida, $3 million for Duke Energy Ohio and $7 million for Duke Energy Indiana. (c) Includes a noncontrolling interest in Duke Energy Indiana. 18 ELECTRIC UTILITIES AND INFRASTRUCTURE CONDENSED CONSOLIDATING BALANCE SHEETS – ASSETS (Unaudited) March 31, 2025 (In millions) Duke Energy Carolinas Duke Energy Progress Duke Energy Florida Duke Energy Ohio (a) Duke Energy Indiana Eliminations/ Adjustments (b) Electric Utilities and Infrastructure Current Assets Cash and cash equivalents $ 46 $ 53 $ 16 $ 8 $ 9 $ 1 $ 133 Receivables, net 1,168 906 545 394 466 16 3,495 Receivables of variable interest entities, net 1 6 2 — — 1 10 Receivables from affiliated companies 197 24 75 25 1 (159) 163 Notes receivable from affiliated companies 140 968 86 17 — (145) 1,066 Inventory 1,488 1,333 773 169 541 — 4,304 Regulatory assets 613 616 921 46 142 (2) 2,336 Other 168 151 56 1 109 10 495 Total current assets 3,821 4,057 2,474 660 1,268 (278) 12,002 Property, Plant and Equipment Cost 59,212 42,769 30,996 9,172 20,210 47 162,406 Accumulated depreciation and amortization (19,382) (16,252) (7,846) (2,536) (7,008) 32 (52,992) Net property, plant and equipment 39,830 26,517 23,150 6,636 13,202 79 109,414 Other Noncurrent Assets Goodwill — — — 596 — 16,783 17,379 Regulatory assets 4,149 4,573 2,068 389 1,031 649 12,859 Nuclear decommissioning trust funds 6,377 4,564 305 — — — 11,246 Operating lease right-of-use assets, net 93 414 263 6 35 1 812 Investments in equity method unconsolidated affiliates — — 1 — — 27 28 Investment in consolidated subsidiaries 55 10 3 409 1 1 479 Other 1,142 752 480 61 254 (233) 2,456 Total other noncurrent assets 11,816 10,313 3,120 1,461 1,321 17,228 45,259 Total Assets 55,467 40,887 28,744 8,757 15,791 17,029 166,675 Segment reclassifications, intercompany balances and other (432) (1,099) (191) (454) (9) 304 (1,881) Reportable Segment Assets $ 55,035 $ 39,788 $ 28,553 $ 8,303 $ 15,782 $ 17,333 $ 164,794 (a) Includes balances of the wholly owned subsidiary Duke Energy Kentucky. (b) Includes the elimination of intercompany balances, purchase accounting adjustments and Commercial Transmission and Duke Energy Indiana Holdco, LLC balances. 19 ELECTRIC UTILITIES AND INFRASTRUCTURE CONDENSED CONSOLIDATING BALANCE SHEETS – LIABILITIES AND EQUITY (Unaudited) March 31, 2025 (In millions) Duke Energy Carolinas Duke Energy Progress Duke Energy Florida Duke Energy Ohio (a) Duke Energy Indiana Eliminations/ Adjustments (b) Electric Utilities and Infrastructure Current Liabilities Accounts payable $ 1,377 $ 603 $ 1,087 $ 221 $ 286 $ 5 $ 3,579 Accounts payable to affiliated companies 484 436 88 20 85 (150) 963 Notes payable to affiliated companies — — — 145 20 (144) 21 Taxes accrued 168 84 148 254 106 6 766 Interest accrued 173 96 130 44 73 — 516 Current maturities of long-term debt 23 581 1,235 183 4 (8) 2,018 Asset retirement obligations 253 226 1 7 156 — 643 Regulatory liabilities 600 313 120 35 205 — 1,273 Other 485 358 337 68 167 (1) 1,414 Total current liabilities 3,563 2,697 3,146 977 1,102 (292) 11,193 Long-Term Debt 17,911 13,489 9,783 3,107 4,644 434 49,368 Long-Term Debt Payable to Affiliated Companies 300 150 — 18 150 — 618 Other Noncurrent Liabilities Deferred income taxes 4,066 2,418 3,048 868 1,497 51 11,948 Asset retirement obligations 3,736 4,122 206 69 1,108 17 9,258 Regulatory liabilities 6,489 4,535 653 229 1,352 (25) 13,233 Operating lease liabilities 83 409 212 6 31 — 741 Accrued pension and other post-retirement benefit costs 23 140 91 67 83 (212) 192 Investment tax credits 313 143 241 5 186 (1) 887 Other 630 182 151 58 19 (13) 1,027 Total other noncurrent liabilities 15,340 11,949 4,602 1,302 4,276 (183) 37,286 Equity Total Duke Energy Corporation stockholders equity 18,353 12,602 11,213 3,353 5,619 15,950 67,090 Noncontrolling interests (c) — — — — — 1,120 1,120 Total equity 18,353 12,602 11,213 3,353 5,619 17,070 68,210 Total Liabilities and Equity 55,467 40,887 28,744 8,757 15,791 17,029 166,675 Segment reclassifications, intercompany balances and other (432) (1,099) (191) (454) (9) 304 (1,881) Reportable Segment Liabilities and Equity $ 55,035 $ 39,788 $ 28,553 $ 8,303 $ 15,782 $ 17,333 $ 164,794 (a) Includes balances of the wholly owned subsidiary Duke Energy Kentucky. (b) Includes the elimination of intercompany balances, purchase accounting adjustments and Commercial Transmission and Duke Energy Indiana Holdco, LLC balances. (c) Includes a noncontrolling interest in Duke Energy Indiana. 20 GAS UTILITIES AND INFRASTRUCTURE CONDENSED CONSOLIDATING SEGMENT INCOME (Unaudited) Three Months Ended March 31, 2025 (In millions) Duke Energy Ohio (a) Piedmont Natural Gas LDC Midstream Pipelines and Storage (b) Eliminations/ Adjustments Gas Utilities and Infrastructure Operating Revenues $ 279 $ 857 $ 4 $ — $ 1,140 Operating Expenses Cost of natural gas 101 272 — 1 374 Operation, maintenance and other 29 94 — 2 125 Depreciation and amortization 36 70 2 (1) 107 Property and other taxes 30 18 1 (2) 47 Total operating expenses 196 454 3 — 653 Operating Income 83 403 1 — 487 Other Income and Expenses, net Equity in earnings of unconsolidated affiliates — — 5 — 5 Other income and expenses, net 2 11 — — 13 Other Income and Expenses, net 2 11 5 — 18 Interest Expense 16 47 1 1 65 Income Before Income Taxes 69 367 5 (1) 440 Income Tax Expense 14 76 1 — 91 Segment Income $ 55 $ 291 $ 4 $ (1) $ 349 (a) Includes results of the wholly owned subsidiary Duke Energy Kentucky. (b) Includes earnings from investments in Sabal Trail and Cardinal pipelines, as well as Hardy and Pine Needle storage facilities. 21 GAS UTILITIES AND INFRASTRUCTURE CONDENSED CONSOLIDATING BALANCE SHEETS – ASSETS (Unaudited) March 31, 2025 (In millions) Duke Energy Ohio (a) Piedmont Natural Gas LDC Midstream Pipelines and Storage Eliminations/ Adjustments (b) Gas Utilities and Infrastructure Current Assets Cash and cash equivalents $ 4 $ 10 $ 6 $ — $ 20 Receivables, net 88 404 — 1 493 Receivables from affiliated companies — 91 131 (73) 149 Notes receivable from affiliated companies 10 — — (5) 5 Inventory 15 61 — — 76 Regulatory assets 6 109 — (1) 114 Other 5 11 3 1 20 Total current assets 128 686 140 (77) 877 Property, Plant and Equipment Cost 4,950 12,956 73 — 17,979 Accumulated depreciation and amortization (1,215) (2,487) (10) — (3,712) Net property, plant and equipment 3,735 10,469 63 — 14,267 Other Noncurrent Assets Goodwill 324 49 — 1,551 1,924 Regulatory assets 325 435 — 65 825 Operating lease right-of-use assets, net — 3 — 1 4 Investments in equity method unconsolidated affiliates — — 180 5 185 Investment in consolidated subsidiaries — — — 6 6 Other 23 271 17 (1) 310 Total other noncurrent assets 672 758 197 1,627 3,254 Total Assets 4,535 11,913 400 1,550 18,398 Segment reclassifications, intercompany balances and other (11) (95) (130) 71 (165) Reportable Segment Assets $ 4,524 $ 11,818 $ 270 $ 1,621 $ 18,233 (a) Includes balances of the wholly owned subsidiary Duke Energy Kentucky. (b) Includes the elimination of intercompany balances and purchase accounting adjustments. 22 GAS UTILITIES AND INFRASTRUCTURE CONDENSED CONSOLIDATING BALANCE SHEETS – LIABILITIES AND EQUITY (Unaudited) March 31, 2025 (In millions) Duke Energy Ohio (a) Piedmont Natural Gas LDC Midstream Pipelines and Storage Eliminations/ Adjustments (b) Gas Utilities and Infrastructure Current Liabilities Accounts payable $ 61 $ 209 $ 6 $ (1) $ 275 Accounts payable to affiliated companies 4 98 21 (74) 49 Notes payable to affiliated companies 84 580 — (5) 659 Taxes accrued 44 123 (3) — 164 Interest accrued 10 50 — — 60 Current maturities of long-term debt 107 205 — 2 314 Regulatory liabilities 17 9 — — 26 Other 3 78 (1) 3 83 Total current liabilities 330 1,352 23 (75) 1,630 Long-Term Debt 744 3,799 60 51 4,654 Long-Term Debt Payable to Affiliated Companies 7 — — — 7 Other Noncurrent Liabilities Deferred income taxes 444 1,002 64 2 1,512 Asset retirement obligations 63 29 — — 92 Regulatory liabilities 231 960 — 12 1,203 Operating lease liabilities — 2 — 1 3 Accrued pension and other post-retirement benefit costs 23 6 — — 29 Investment tax credits — 1 — — 1 Other 23 150 — (1) 172 Total other noncurrent liabilities 784 2,150 64 14 3,012 Equity Total Duke Energy Corporation stockholders' equity 2,670 4,612 250 1,560 9,092 Noncontrolling interests — — 3 — 3 Total equity 2,670 4,612 253 1,560 9,095 Total Liabilities and Equity 4,535 11,913 400 1,550 18,398 Segment reclassifications, intercompany balances and other (11) (95) (130) 71 (165) Reportable Segment Liabilities and Equity $ 4,524 $ 11,818 $ 270 $ 1,621 $ 18,233 (a) Includes balances of the wholly owned subsidiary Duke Energy Kentucky. (b) Includes the elimination of intercompany balances and purchase accounting adjustments. 23 Electric Utilities and Infrastructure Quarterly Highlights March 2025 Three Months Ended March 31, 2025 2024 % Inc. (Dec.) % Inc. (Dec.) Weather Normal (b) Gigawatt-hour (GWh) Sales (a) Residential 25,225 22,704 11.1 % 3.4 % Commercial 18,902 18,169 4.0 % 1.7 % Industrial 10,964 11,449 (4.2 %) (0.9 %) Other Energy Sales 116 136 (14.7 %) n/a Unbilled Sales (1,816) (1,794) (1.2 %) n/a Total Retail Sales 53,391 50,664 5.4 % 1.8 % Wholesale and Other 11,851 9,946 19.2 % Total Consolidated Electric Sales – Electric Utilities and Infrastructure 65,242 60,610 7.6 % Average Number of Customers (Electric) Residential 7,498,119 7,355,519 1.9 % Commercial 1,045,224 1,041,737 0.3 % Industrial 15,305 15,804 (3.2 %) Other Energy Sales 23,202 23,839 (2.7 %) Total Retail Customers 8,581,850 8,436,899 1.7 % Wholesale and Other 52 52 — % Total Average Number of Customers – Electric Utilities and Infrastructure 8,581,902 8,436,951 1.7 % Sources of Electric Energy (GWh) Generated – Net Output (c) Coal 11,347 9,389 20.9 % Nuclear 18,926 19,082 (0.8 %) Hydro 446 981 (54.5 %) Natural Gas and Oil 21,553 19,881 8.4 % Renewable Energy 841 668 25.9 % Total Generation (d) 53,113 50,001 6.2 % Purchased Power and Net Interchange (e) 14,952 14,128 5.8 % Total Sources of Energy 68,065 64,129 6.1 % Less: Line Loss and Other 2,823 3,519 (19.8 %) Total GWh Sources 65,242 60,610 7.6 % Owned Megawatt (MW) Capacity (c) Summer 50,562 50,385 Winter 55,139 54,870 Nuclear Capacity Factor (%) (f) 99 97 (a) Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. (b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales). (c) Statistics reflect Duke Energy's ownership share of jointly owned stations. (d) Generation by source is reported net of auxiliary power. (e) Purchased power includes renewable energy purchases. (f) Statistics reflect 100% of jointly owned stations. 24 Duke Energy Carolinas Quarterly Highlights Supplemental Electric Utilities and Infrastructure Information March 2025 Three Months Ended March 31, 2025 2024 % Inc. (Dec.) % Inc. (Dec.) Weather Normal (b) GWh Sales (a) Residential 9,138 8,241 10.9 % Commercial 7,390 7,232 2.2 % Industrial 4,554 4,686 (2.8 %) Other Energy Sales 56 68 (17.6 %) Unbilled Sales (730) (676) (8.0 %) Total Retail Sales 20,408 19,551 4.4 % 1.2 % Wholesale and Other 3,150 2,837 11.0 % Total Consolidated Electric Sales – Duke Energy Carolinas 23,558 22,388 5.2 % Average Number of Customers Residential 2,524,566 2,465,376 2.4 % Commercial 401,939 401,787 — % Industrial 5,895 5,968 (1.2 %) Other Energy Sales 10,836 11,120 (2.6 %) Total Retail Customers 2,943,236 2,884,251 2.0 % Wholesale and Other 26 25 4.0 % Total Average Number of Customers – Duke Energy Carolinas 2,943,262 2,884,276 2.0 % Sources of Electric Energy (GWh) Generated – Net Output (c) Coal 3,285 2,915 12.7 % Nuclear 11,789 11,835 (0.4 %) Hydro 251 652 (61.5 %) Natural Gas and Oil 5,880 5,902 (0.4 %) Renewable Energy 57 73 (21.9 %) Total Generation (d) 21,262 21,377 (0.5 %) Purchased Power and Net Interchange (e) 3,238 2,207 46.7 % Total Sources of Energy 24,500 23,584 3.9 % Less: Line Loss and Other 942 1,196 (21.2 %) Total GWh Sources 23,558 22,388 5.2 % Owned MW Capacity (c) Summer 19,698 19,688 Winter 20,773 20,736 Nuclear Capacity Factor (%) (f) 102 100 Heating and Cooling Degree Days Actual Heating Degree Days 1,643 1,475 11.4 % Cooling Degree Days 8 3 166.7 % Variance from Normal Heating Degree Days (3.2 %) (14.8 %) Cooling Degree Days (2.4 %) (53.2 %) (a) Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. (b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales). (c) Statistics reflect Duke Energy's ownership share of jointly owned stations. (d) Generation by source is reported net of auxiliary power. (e) Purchased power includes renewable energy purchases. (f) Statistics reflect 100% of jointly owned stations. 25 Duke Energy Progress Quarterly Highlights Supplemental Electric Utilities and Infrastructure Information March 2025 Three Months Ended March 31, 2025 2024 % Inc. (Dec.) % Inc. (Dec.) Weather Normal (b) GWh Sales (a) Residential 5,880 5,132 14.6 % Commercial 3,740 3,632 3.0 % Industrial 2,457 2,223 10.5 % Other Energy Sales 21 22 (4.5 %) Unbilled Sales (747) (521) (43.4 %) Total Retail Sales 11,351 10,488 8.2 % 2.2 % Wholesale and Other 6,834 5,640 21.2 % Total Consolidated Electric Sales – Duke Energy Progress 18,185 16,128 12.8 % Average Number of Customers Residential 1,518,693 1,486,661 2.2 % Commercial 248,333 247,706 0.3 % Industrial 3,072 3,238 (5.1 %) Other Energy Sales 2,406 2,453 (1.9 %) Total Retail Customers 1,772,504 1,740,058 1.9 % Wholesale and Other 8 8 — % Total Average Number of Customers – Duke Energy Progress 1,772,512 1,740,066 1.9 % Sources of Electric Energy (GWh) Generated – Net Output (c) Coal 2,276 1,802 26.3 % Nuclear 7,137 7,247 (1.5 %) Hydro 138 261 (47.1 %) Natural Gas and Oil 6,519 5,117 27.4 % Renewable Energy 50 59 (15.3 %) Total Generation (d) 16,120 14,486 11.3 % Purchased Power and Net Interchange (e) 2,492 2,137 16.6 % Total Sources of Energy 18,612 16,623 12.0 % Less: Line Loss and Other 427 495 (13.7 %) Total GWh Sources 18,185 16,128 12.8 % Owned MW Capacity (c) Summer 12,585 12,564 Winter 13,845 13,770 Nuclear Capacity Factor (%) (f) 92 92 Heating and Cooling Degree Days Actual Heating Degree Days 1,523 1,273 19.6 % Cooling Degree Days 15 9 66.7 % Variance from Normal Heating Degree Days (2.6 %) (20.3 %) Cooling Degree Days 14.9 % (26.5 %) (a) Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. (b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales). (c) Statistics reflect Duke Energy's ownership share of jointly owned stations. (d) Generation by source is reported net of auxiliary power. (e) Purchased power includes renewable energy purchases. (f) Statistics reflect 100% of jointly owned stations. 26 Duke Energy Florida Quarterly Highlights Supplemental Electric Utilities and Infrastructure Information March 2025 Three Months Ended March 31, 2025 2024 % Inc. (Dec.) % Inc. (Dec.) Weather Normal (b) GWh Sales (a) Residential 4,618 4,371 5.7 % Commercial 3,402 3,325 2.3 % Industrial 783 832 (5.9 %) Other Energy Sales 7 8 (12.5 %) Unbilled Sales (125) (73) (71.2 %) Total Retail Sales 8,685 8,463 2.6 % 1.1 % Wholesale and Other 383 376 1.9 % Total Electric Sales – Duke Energy Florida 9,068 8,839 2.6 % Average Number of Customers Residential 1,811,645 1,781,895 1.7 % Commercial 211,835 210,297 0.7 % Industrial 1,616 1,716 (5.8 %) Other Energy Sales 3,562 3,632 (1.9 %) Total Retail Customers 2,028,658 1,997,540 1.6 % Wholesale and Other 13 14 (7.1 %) Total Average Number of Customers – Duke Energy Florida 2,028,671 1,997,554 1.6 % Sources of Electric Energy (GWh) Generated – Net Output (c) Coal 454 593 (23.4 %) Natural Gas and Oil 8,004 7,735 3.5 % Renewable Energy 729 530 37.5 % Total Generation (d) 9,187 8,858 3.7 % Purchased Power and Net Interchange (e) 108 253 (57.3 %) Total Sources of Energy 9,295 9,111 2.0 % Less: Line Loss and Other 227 272 (16.5 %) Total GWh Sources 9,068 8,839 2.6 % Owned MW Capacity (c) Summer 10,895 10,749 Winter 12,542 12,408 Heating and Cooling Degree Days Actual Heating Degree Days 359 294 22.1 % Cooling Degree Days 215 229 (6.1 %) Variance from Normal Heating Degree Days (1.8 %) (20.8 %) Cooling Degree Days 1.6 % 11.0 % (a) Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. (b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales). (c) Statistics reflect Duke Energy's ownership share of jointly owned stations. (d) Generation by source is reported net of auxiliary power. (e) Purchased power includes renewable energy purchases. 27 Duke Energy Ohio Quarterly Highlights Supplemental Electric Utilities and Infrastructure Information March 2025 Three Months Ended March 31, 2025 2024 % Inc. (Dec.) % Inc. (Dec.) Weather Normal (b) GWh Sales (a) Residential 2,672 2,382 12.2 % Commercial 2,329 2,072 12.4 % Industrial 1,096 1,258 (12.9 %) Other Energy Sales 19 23 (17.4 %) Unbilled Sales (121) (85) (42.4 %) Total Retail Sales 5,995 5,650 6.1 % 2.6 % Wholesale and Other 112 130 (13.8 %) Total Electric Sales – Duke Energy Ohio 6,107 5,780 5.7 % Average Number of Customers Residential 837,876 830,082 0.9 % Commercial 76,514 75,773 1.0 % Industrial 2,101 2,248 (6.5 %) Other Energy Sales 2,652 2,800 (5.3 %) Total Retail Customers 919,143 910,903 0.9 % Wholesale and Other 1 1 — % Total Average Number of Customers – Duke Energy Ohio 919,144 910,904 0.9 % Sources of Electric Energy (GWh) Generated – Net Output (c) Coal 779 765 1.8 % Natural Gas and Oil 37 38 (2.6 %) Total Generation (d) 816 803 1.6 % Purchased Power and Net Interchange (e) 6,046 5,697 6.1 % Total Sources of Energy 6,862 6,500 5.6 % Less: Line Loss and Other 755 720 4.9 % Total GWh Sources 6,107 5,780 5.7 % Owned MW Capacity (c) Summer 1,080 1,080 Winter 1,173 1,173 Heating and Cooling Degree Days Actual Heating Degree Days 2,563 2,228 15.0 % Cooling Degree Days 7 — — % Variance from Normal Heating Degree Days 0.6 % (14.0 %) Cooling Degree Days 142.5 % — % (a) Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. (b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales). (c) Statistics reflect Duke Energy's ownership share of jointly owned stations. (d) Generation by source is reported net of auxiliary power. (e) Purchased power includes renewable energy purchases. 28 Duke Energy Indiana Quarterly Highlights Supplemental Electric Utilities and Infrastructure Information March 2025 Three Months Ended March 31, 2025 2024 % Inc. (Dec.) % Inc. (Dec.) Weather Normal (b) GWh Sales (a) Residential 2,917 2,578 13.1 % Commercial 2,041 1,908 7.0 % Industrial 2,074 2,450 (15.3 %) Other Energy Sales 13 15 (13.3 %) Unbilled Sales (93) (439) 78.8 % Total Retail Sales 6,952 6,512 6.8 % 3.5 % Wholesale and Other 1,372 963 42.5 % Total Electric Sales – Duke Energy Indiana 8,324 7,475 11.4 % Average Number of Customers Residential 805,339 791,505 1.7 % Commercial 106,603 106,174 0.4 % Industrial 2,621 2,634 (0.5 %) Other Energy Sales 3,746 3,834 (2.3 %) Total Retail Customers 918,309 904,147 1.6 % Wholesale and Other 4 4 — % Total Average Number of Customers – Duke Energy Indiana 918,313 904,151 1.6 % Sources of Electric Energy (GWh) Generated – Net Output (c) Coal 4,553 3,314 37.4 % Hydro 57 68 (16.2 %) Natural Gas and Oil 1,113 1,089 2.2 % Renewable Energy 5 6 (16.7 %) Total Generation (d) 5,728 4,477 27.9 % Purchased Power and Net Interchange (e) 3,068 3,834 (20.0 %) Total Sources of Energy 8,796 8,311 5.8 % Less: Line Loss and Other 472 836 (43.5 %) Total GWh Sources 8,324 7,475 11.4 % Owned MW Capacity (c) Summer 6,304 6,304 Winter 6,806 6,783 Heating and Cooling Degree Days Actual Heating Degree Days 2,731 2,361 15.7 % Cooling Degree Days 2 — — % Variance from Normal Heating Degree Days (0.5 %) (15.0 %) Cooling Degree Days (10.9 %) — % (a) Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. (b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales). (c) Statistics reflect Duke Energy's ownership share of jointly owned stations. (d) Generation by source is reported net of auxiliary power. (e) Purchased power includes renewable energy purchases. 29 Gas Utilities and Infrastructure Quarterly Highlights March 2025 Three Months Ended March 31, 2025 2024 % Inc. (Dec.) Total Sales Piedmont Natural Gas Local Distribution Company (LDC) throughput (dekatherms) (a) 181,459,847 163,265,015 11.1 % Duke Energy Midwest LDC throughput (Mcf) (a) 40,455,684 33,197,651 21.9 % Average Number of Customers – Piedmont Natural Gas Residential 1,092,898 1,072,397 1.9 % Commercial 109,848 108,553 1.2 % Industrial 945 944 0.1 % Power Generation 19 19 — % Total Average Number of Gas Customers – Piedmont Natural Gas 1,203,710 1,181,913 1.8 % Average Number of Customers – Duke Energy Midwest Residential 526,598 524,333 0.4 % Commercial 35,285 35,369 (0.2 %) Industrial 2,334 2,249 3.8 % Other 117 117 — % Total Average Number of Gas Customers – Duke Energy Midwest 564,334 562,068 0.4 % (a) Piedmont has a margin decoupling mechanism in North Carolina, weather normalization mechanisms in South Carolina and Tennessee and fixed-price contracts with most power generation customers that significantly eliminate the impact of throughput changes on earnings. Duke Energy Ohio's rate design also serves to offset this impact. 30

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.