Exhibit 99.1 News Release Contact: James Gherardi Corporate Communications 312-394-7417 Andrew Plenge Investor Relations 779-231-0017 EXELON REPORTS THIRD QUARTER 2025 RESULTS Earnings Release Highlights • GAAP net income of $0.86 per share and Adjusted (non-GAAP) operating earnings of $0.86 per share for the third quarter of 2025 • Affirming full year 2025 Adjusted (non-GAAP) operating earnings guidance range of $2.64-$2.74 per share • Reaffirming operating EPS compounded annual growth of 5-7% from 2024 to 2028 • Continued strong performance in reliability, with Exelon's utilities ranking 1 st , 2 nd , 4 th , and 7 th in the nation • Pepco filed an electric distribution rate case with the Maryland Public Service Commission in October, with its request supporting key infrastructure investments planned for 2026 to modernize aging infrastructure and improve reliability • Completed all planned debt financings for 2025 and continued strong progress on equity plan, having now priced nearly half of annualized equity financing needs through 2028 CHICAGO (Nov. 4, 2025) — Exelon Corporation (Nasdaq: EXC) today reported its financial results for the third quarter of 2025. “I am pleased to report that Exelon has achieved another quarter of strong operational and financial performance,” said Exelon President and Chief Executive Officer Calvin Butler. “At a time when many are facing cost pressures, we remain focused on supporting our customers and investing effectively and efficiently in the communities we serve. As we reaffirm our full-year earnings guidance and long-term growth outlook, we continue to prioritize operational excellence, disciplined financial execution, and infrastructure modernization to meet our customers' needs for reliable, affordable energy. I am proud of the work our teams accomplish every day to create value where it matters most.” “Exelon delivered another quarter of strong financial performance, completing its planned financings of capital investments and delivering third quarter adjusted operating earnings of $0.86 per share. We remain on track to meet our full year earnings guidance of $2.64 to $2.74 per share,” said Exelon Chief Financial Officer Jeanne Jones. “Our disciplined financial management and operational excellence continues to drive strong performance across our local energy companies, enabling us to invest $38 billion in critical infrastructure investments over the next four years for the benefit of our customers.” 1 Third Quarter 2025 Exelon's GAAP net income for the third quarter of 2025 increased to $0.86 per share from $0.70 per share in the third quarter of 2024. Adjusted (non-GAAP) operating earnings for the third quarter of 2025 increased to $0.86 per share from $0.71 per share in the third quarter of 2024. For the reconciliations of GAAP net income to Adjusted (non-GAAP) operating earnings, refer to the tables beginning on page 4. The GAAP net income and Adjusted (non-GAAP) operating earnings in the third quarter of 2025 primarily reflect: • Higher utility earnings primarily due to distribution and transmission rates at ComEd and PHI, distribution rates at PECO and BGE, lower storm costs at PECO and BGE, lower income taxes at PECO, a higher return on regulatory assets at ComEd primarily due to an increase in asset balances, higher AFUDC at ComEd, and lower credit loss expense at BGE. This was partially offset by timing of distribution earnings at ComEd, higher depreciation expense at PECO, and higher interest expense at PHI. • Higher costs at the Exelon holding company due to higher interest expense. Operating Company Results 1 ComEd ComEd's third quarter of 2025 GAAP net income increased to $373 million from $360 million in the third quarter of 2024. ComEd's Adjusted (non-GAAP) operating earnings for the third quarter of 2025 increased to $373 million from $360 million in the third quarter of 2024, primarily due to higher distribution and transmission rate base driven by incremental investments to serve customers, higher return on regulatory assets primarily due to an increase in asset balances, and higher AFUDC, partially offset by the timing of distribution earnings. Due to revenue decoupling, ComEd's distribution earnings are not intended to be affected by actual weather or customer usage patterns. PECO PECO’s third quarter of 2025 GAAP net income increased to $250 million from $117 million in the third quarter of 2024. PECO's Adjusted (non-GAAP) operating earnings for the third quarter of 2025 increased to $250 million from $118 million in the third quarter of 2024, primarily due to electric and gas distribution rates associated with updated recovery of investments to serve customers, lower storm costs due to deferral of extraordinary February and June storm costs in the third quarter of 2025, and lower income taxes due to tax repairs deduction some of which is timing, partially offset by an increase in depreciation expense. ___________ 1 Exelon’s four business units include ComEd, which consists of electricity transmission and distribution operations in northern Illinois; PECO, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in southeastern Pennsylvania; BGE, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in central Maryland; and PHI, which consists of electricity transmission and distribution operations in the District of Columbia and portions of Maryland, Delaware, and New Jersey and retail natural gas distribution operations in northern Delaware. 2 BGE BGE’s third quarter of 2025 GAAP net income increased to $82 million from $45 million in the third quarter of 2024. BGE's Adjusted (non-GAAP) operating earnings for the third quarter of 2025 increased to $82 million from $45 million in the third quarter of 2024, primarily due to distribution rates associated with updated recovery of investments to serve customers and lower storm costs and credit loss expense. Due to revenue decoupling, BGE's distribution earnings are not intended to be affected by actual weather or customer usage patterns. PHI PHI’s third quarter of 2025 GAAP net income increased to $291 million from $278 million in the third quarter of 2024. PHI’s Adjusted (non-GAAP) operating earnings for the third quarter of 2025 increased to $290 million from $278 million in the third quarter of 2024, primarily due to distribution and transmission rates driven by updated recovery of investments to serve customers, partially offset by higher interest expense. Due to revenue decoupling, PHI's distribution earnings related to Pepco Maryland, DPL Maryland, Pepco District of Columbia, and ACE are not intended to be affected by actual weather or customer usage patterns. Recent Developments and Third Quarter Highlights • Dividend: On October 29, 2025, Exelon's Board of Directors declared a regular quarterly dividend of $0.40 per share on Exelon's common stock. The dividend is payable on December 15, 2025, to Exelon's shareholders of record as of the close of business on November 10, 2025. • Rate Case Developments: ◦ On October 14, 2025, Pepco filed an application for adjustments to its retail rates for the distribution of electric energy with the MDPSC. Pepco requested total electric revenue requirement increase of $133 million, which reflects a requested ROE of 10.50%. Requested revenue requirement increases will be used to continue providing safe and reliable distribution services to its customers in Maryland and support the achievement of state climate goals. Pepco currently expects a decision in the third quarter of 2026. • Financing Activities: ◦ On September 17, 2025, Pepco issued $75 million of its First Mortgage 5.78% Series Bonds due September 17, 2055. Pepco used the proceeds to repay existing indebtedness and for general corporate purposes. ◦ On September 10, 2025, PECO issued $525 million aggregate principal amount of its First and Refunding Mortgage Bonds, 4.875% Series due September 15, 2035 and $525 million aggregate principal amount of its First and Refunding Mortgage Bonds, 5.650% Series due September 15, 2055. PECO used the proceeds to repay existing indebtedness, repay outstanding commercial paper, and for general corporate purposes. 3 Adjusted (non-GAAP) Operating Earnings Reconciliation Adjusted (non-GAAP) operating earnings for the third quarter of 2025 do not include the following items (after tax) that were included in reported GAAP net income: (in millions, except per share amounts) Exelon Earnings per Diluted Share Exelon ComEd PECO BGE PHI 2025 GAAP net income $ 0.86 $ 875 $ 373 $ 250 $ 82 $ 291 Asset Retirement Obligation (net of taxes of $0) — (1) — — — (1) 2025 Adjusted (non-GAAP) operating earnings $ 0.86 $ 874 $ 373 $ 250 $ 82 $ 290 Adjusted (non-GAAP) operating earnings for the third quarter of 2024 do not include the following items (after tax) that were included in reported GAAP net income: (in millions, except per share amounts) Exelon Earnings per Diluted Share Exelon ComEd PECO BGE PHI 2024 GAAP net income $ 0.70 $ 707 $ 360 $ 117 $ 45 $ 278 Change in environmental liabilities (net of taxes of $0) — — — — — — Change in FERC Audit Liability (net of taxes of $0) — — — — — — Cost management charge (net of taxes of $0, and $0, respectively) — 1 — 1 — — 2024 Adjusted (non-GAAP) operating earnings $ 0.71 $ 708 $ 360 $ 118 $ 45 $ 278 __________ Note: Amounts may not sum due to rounding. Unless otherwise noted, the income tax impact of each reconciling item between GAAP net income and Adjusted (non-GAAP) operating earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items, the marginal statutory income tax rates for 2025 and 2024 ranged from 24.0% to 29.0%. Webcast Information Exelon will discuss third quarter 2025 earnings in a conference call scheduled for today at 9 a.m. Central Time (10 a.m. Eastern Time). The webcast and associated materials can be accessed at investors.exeloncorp.com. About Exelon Exelon (Nasdaq: EXC) is a Fortune 200 company and one of the nation’s largest utility companies, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). Exelon's 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow @Exelon on X and LinkedIn. Non-GAAP Financial Measures In addition to net income as determined under generally accepted accounting principles in the United States (GAAP), Exelon evaluates its operating performance using the measure of Adjusted (non-GAAP) 4 operating earnings because management believes it represents earnings directly related to the ongoing operations of the business. Adjusted (non-GAAP) operating earnings exclude certain costs, expenses, gains and losses, and other specified items. This measure is intended to enhance an investor’s overall understanding of period over period operating results and provide an indication of Exelon’s baseline operating performance excluding items that are considered by management to be not directly related to the ongoing operations of the business. In addition, this measure is among the primary indicators management uses as a basis for evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting of future periods. Adjusted (non-GAAP) operating earnings is not a presentation defined under GAAP and may not be comparable to other companies’ presentation. Exelon has provided the non-GAAP financial measure as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. Adjusted (non-GAAP) operating earnings should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP net income measures provided in this earnings release and attachments. This press release and earnings release attachments provide reconciliations of Adjusted (non-GAAP) operating earnings to the most directly comparable financial measures calculated and presented in accordance with GAAP, are posted on Exelon’s website: https://investors.exeloncorp.com , and have been furnished to the Securities and Exchange Commission (SEC) on Form 8-K on Nov. 4, 2025. Cautionary Statements Regarding Forward-Looking Information This press release contains certain forward-looking statements within the meaning of federal securities laws that are subject to risks and uncertainties. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” “should,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors that may cause our actual results or outcomes to differ materially from those contained in our forward-looking statements, including, but not limited to: unfavorable legislative and/or regulatory actions; uncertainty as to outcomes and timing of regulatory approval proceedings and/or negotiated settlements thereof; environmental liabilities and remediation costs; state and federal legislation requiring use of low-emission, renewable, and/or alternate fuel sources and/or mandating implementation of energy conservation programs requiring implementation of new technologies; challenges to tax positions taken, tax law changes, and difficulty in quantifying potential tax effects of business decisions; negative outcomes in legal proceedings; adverse impact of the activities associated with the past deferred prosecution agreement and now-resolved SEC investigation on Exelon Corporation’s and Commonwealth Edison Company's reputation and relationships with legislators, regulators, and customers; physical security and cybersecurity risks; extreme weather events, natural disasters, operational accidents such as wildfires or natural gas explosions, war, acts and threats of terrorism, public health crises, epidemics, pandemics, or other significant events; disruptions or cost increases in the supply chain, including shortages in labor, materials or parts, or significant increases in relevant tariffs; lack of sufficient capacity to meet actual or forecasted demand or disruptions at power generation facilities owned by third parties; emerging technologies that could affect or transform the energy industry; instability in capital and credit markets; a downgrade of any Registrant’s credit ratings or other failure to satisfy the credit standards in the Registrants’ agreements or regulatory financial requirements; significant economic downturns or increases in customer rates; impacts of climate change and weather on energy usage and maintenance and capital costs; and impairment of long-lived assets, goodwill, and other assets. New factors emerge from time to time, and it is impossible for us to predict all of such factors, nor can we assess the impact of each such factor on the business or the extent to which any factor, or combination of 5 factors, may cause actual results to differ materially from those contained in any forward-looking statements. For more information, see those factors discussed with respect to Exelon Corporation, Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company, Pepco Holdings LLC, Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company (Registrants) in the Registrants' most recent Annual Report on Form 10-K, including in Part I, ITEM 1A, any subsequent Quarterly Reports on Form 10-Q, and in other reports filed by the Registrants from time to time with the SEC. Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this press release. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this press release. Exelon uses its corporate website, www.exeloncorp.com, investor relations website, investors.exeloncorp.com, and social media channels to communicate with Exelon's investors and the public about the Registrants and other matters. Exelon's posts through these channels may be deemed material. Accordingly, Exelon encourages investors and others interested in the Registrants to routinely monitor these channels, in addition to following the Registrants' press releases, SEC filings and public conference calls and webcasts. The contents of Exelon's websites and social media channels are not, however, incorporated by reference into this press release. 6 Table of Contents Earnings Release Attachments Table of Contents Consolidating Statement of Operations 2 Consolidated Balance Sheets 3 Consolidated Statements of Cash Flows 5 Reconciliation of GAAP Net Income to Adjusted (non-GAAP) Operating Earnings and Analysis of Earnings 7 Statistics ComEd 8 PECO 9 BGE 11 Pepco 13 DPL 14 ACE 16 Table of Contents Consolidating Statements of Operations (unaudited) (in millions) ComEd PECO BGE PHI Other (a) Exelon Three Months Ended September 30, 2025 Operating revenues $ 2,275 $ 1,180 $ 1,209 $ 2,051 $ (10) $ 6,705 Operating expenses Purchased power and fuel 806 446 568 872 — 2,692 Operating and maintenance 409 241 239 335 (52) 1,172 Depreciation and amortization 395 115 155 234 13 912 Taxes other than income taxes 107 69 93 150 10 429 Total operating expenses 1,717 871 1,055 1,591 (29) 5,205 Gain on sale of assets — — — — — — Operating income 558 309 154 460 19 1,500 Other income and (deductions) Interest expense, net (135) (65) (64) (102) (172) (538) Other, net 33 11 15 18 (9) 68 Total other income and (deductions) (102) (54) (49) (84) (181) (470) Income (loss) before income taxes 456 255 105 376 (162) 1,030 Income taxes 83 5 23 85 (41) 155 Net income (loss) attributable to common shareholders $ 373 $ 250 $ 82 $ 291 $ (121) $ 875 Three Months Ended September 30, 2024 Operating revenues $ 2,229 $ 1,030 $ 1,044 $ 1,862 $ (11) $ 6,154 Operating expenses Purchased power and fuel 835 386 420 742 — 2,383 Operating and maintenance 410 313 281 322 (51) 1,275 Depreciation and amortization 387 108 162 235 16 908 Taxes other than income taxes 99 61 86 140 9 395 Total operating expenses 1,731 868 949 1,439 (26) 4,961 Gain on sale of assets — — — — 3 3 Operating income 498 162 95 423 18 1,196 Other income and (deductions) Interest expense, net (128) (58) (57) (95) (158) (496) Other, net 26 9 11 22 (11) 57 Total other income and (deductions) (102) (49) (46) (73) (169) (439) Income (loss) before income taxes 396 113 49 350 (151) 757 Income taxes 36 (4) 4 72 (58) 50 Net income (loss) attributable to common shareholders $ 360 $ 117 $ 45 $ 278 $ (93) $ 707 Change in net income (loss) from 2024 to 2025 $ 13 $ 133 $ 37 $ 13 $ (28) $ 168 1 Table of Contents Consolidating Statements of Operations (unaudited) (in millions) ComEd PECO BGE PHI Other (a) Exelon Nine Months Ended September 30, 2025 Operating revenues $ 6,176 $ 3,513 $ 3,791 $ 5,408 $ (42) $ 18,846 Operating expenses Purchased power and fuel 2,044 1,288 1,584 2,195 — 7,111 Operating and maintenance 1,254 872 807 1,024 (117) 3,840 Depreciation and amortization 1,162 336 473 701 45 2,717 Taxes other than income taxes 303 183 273 426 31 1,216 Total operating expenses 4,763 2,679 3,137 4,346 (41) 14,884 Gain on sale of assets — — — 1 — 1 Operating income (loss) 1,413 834 654 1,063 (1) 3,963 Other income and (deductions) Interest expense, net (395) (188) (183) (305) (507) (1,578) Other, net 86 29 35 54 (19) 185 Total other income and (deductions) (309) (159) (148) (251) (526) (1,393) Income (loss) before income taxes 1,104 675 506 812 (527) 2,570 Income taxes 201 23 108 184 (120) 396 Net income (loss) attributable to common shareholders $ 903 $ 652 $ 398 $ 628 $ (407) $ 2,174 Nine Months Ended September 30, 2024 Operating revenues $ 6,403 $ 2,975 $ 3,268 $ 4,938 $ (27) $ 17,557 Operating expenses Purchased power and fuel 2,504 1,113 1,228 1,939 — 6,784 Operating and maintenance 1,277 876 795 927 (119) 3,756 Depreciation and amortization 1,124 318 474 716 49 2,681 Taxes other than income taxes 287 164 254 395 27 1,127 Total operating expenses 5,192 2,471 2,751 3,977 (43) 14,348 Gain on sale of assets 5 4 — — 3 12 Operating income 1,216 508 517 961 19 3,221 Other income and (deductions) Interest expense, net (374) (170) (159) (279) (464) (1,446) Other, net 66 27 27 79 (3) 196 Total other income and (deductions) (308) (143) (132) (200) (467) (1,250) Income (loss) before income taxes 908 365 385 761 (448) 1,971 Income taxes 85 9 32 158 (126) 158 Net income (loss) attributable to common shareholders $ 823 $ 356 $ 353 $ 603 $ (322) $ 1,813 Change in net income (loss) from 2024 to 2025 $ 80 $ 296 $ 45 $ 25 $ (85) $ 361 __________ (a) Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities, and other financing and investment activities. 2 Table of Contents Exelon Consolidated Balance Sheets (unaudited) (in millions) September 30, 2025 December 31, 2024 Assets Current assets Cash and cash equivalents $ 1,533 $ 357 Restricted cash and cash equivalents 516 541 Accounts receivable Customer accounts receivable 3,356 3,144 Customer allowance for credit losses (451) (406) Customer accounts receivable, net 2,905 2,738 Other accounts receivable 1,192 1,123 Other allowance for credit losses (98) (107) Other accounts receivable, net 1,094 1,016 Inventories, net Fossil fuel 100 72 Materials and supplies 788 781 Regulatory assets 1,489 1,940 Prepaid renewable energy credits 445 494 Other 359 445 Total current assets 9,229 8,384 Property, plant, and equipment, net 82,100 78,182 Deferred debits and other assets Regulatory assets 8,881 8,710 Goodwill 6,630 6,630 Receivable related to Regulatory Agreement Units 4,658 4,026 Investments 307 290 Other 1,734 1,562 Total deferred debits and other assets 22,210 21,218 Total assets $ 113,539 $ 107,784 3 Table of Contents September 30, 2025 December 31, 2024 Liabilities and shareholders’ equity Current liabilities Short-term borrowings $ 1,080 $ 1,859 Long-term debt due within one year 2,168 1,453 Accounts payable 3,240 2,994 Accrued expenses 1,414 1,468 Payables to affiliates 5 5 Customer deposits 507 446 Regulatory liabilities 507 411 Mark-to-market derivative liabilities 28 29 Unamortized energy contract liabilities 5 5 Renewable energy credit obligations 352 429 Other 519 512 Total current liabilities 9,825 9,611 Long-term debt 46,283 42,947 Long-term debt to financing trusts 390 390 Deferred credits and other liabilities Deferred income taxes and unamortized investment tax credits 13,519 12,793 Regulatory liabilities 10,904 10,198 Pension obligations 1,480 1,745 Non-pension postretirement benefit obligations 493 472 Asset retirement obligations 303 301 Mark-to-market derivative liabilities 109 103 Unamortized energy contract liabilities 18 21 Other 2,102 2,282 Total deferred credits and other liabilities 28,928 27,915 Total liabilities 85,426 80,863 Commitments and contingencies Shareholders’ equity Common stock 21,564 21,338 Treasury stock, at cost (123) (123) Retained earnings 7,387 6,426 Accumulated other comprehensive loss, net (715) (720) Total shareholders’ equity 28,113 26,921 Total liabilities and shareholders’ equity $ 113,539 $ 107,784 4 Table of Contents Exelon Consolidated Statements of Cash Flows (unaudited) (in millions) Nine Months Ended September 30, 2025 2024 Cash flows from operating activities Net income $ 2,174 $ 1,813 Adjustments to reconcile net income to net cash flows provided by operating activities: Depreciation, amortization, and accretion 2,719 2,683 Gain on sales of assets (1) (12) Deferred income taxes and amortization of investment tax credits 293 102 Net fair value changes related to derivatives 3 1 Other non-cash operating activities 1,088 441 Changes in assets and liabilities: Accounts receivable (422) (489) Inventories (41) (57) Accounts payable and accrued expenses 165 (309) Collateral (paid) received, net (25) 21 Income taxes 19 (18) Regulatory assets and liabilities, net (390) 194 Pension and non-pension postretirement benefit contributions (313) (140) Other assets and liabilities (259) (87) Net cash flows provided by operating activities 5,010 4,143 Cash flows from investing activities Capital expenditures (6,095) (5,161) Proceeds from sales of assets 2 38 Other investing activities (7) 9 Net cash flows used in investing activities (6,100) (5,114) Cash flows from financing activities Changes in short-term borrowings (779) (1,093) Proceeds from short-term borrowings with maturities greater than 90 days — 150 Repayments on short-term borrowings with maturities greater than 90 days — (549) Issuance of long-term debt 4,925 4,975 Retirement of long-term debt (807) (1,336) Issuance of common stock 173 148 Dividends paid on common stock (1,212) (1,142) Proceeds from employee stock plans 24 33 Other financing activities (75) (83) Net cash flows provided by financing activities 2,249 1,103 Increase in cash, restricted cash, and cash equivalents 1,159 132 Cash, restricted cash, and cash equivalents at beginning of period 939 1,101 Cash, restricted cash, and cash equivalents at end of period $ 2,098 $ 1,233 5 Table of Contents Exelon Reconciliation of GAAP Net Income (Loss) to Adjusted (non-GAAP) Operating Earnings and Analysis of Earnings Three Months Ended September 30, 2025 and 2024 (unaudited) (in millions, except per share data) Exelon Earnings per Diluted Share ComEd PECO BGE PHI Other (a) Exelon 2024 GAAP net income (loss) $ 0.70 $ 360 $ 117 $ 45 $ 278 $ (93) $ 707 Change in environmental liabilities (net of taxes of $0) — — — — — — — Change in FERC Audit Liability (net of taxes of $0) — — — — — — — Cost management charge (net of taxes of $0) (1) — — 1 — — — 1 2024 Adjusted (non-GAAP) operating earnings (loss) $ 0.71 $ 360 $ 118 $ 45 $ 278 $ (93) $ 708 Year over year effects on Adjusted (non-GAAP) operating earnings: Weather $ — $ — (b) $ 1 $ — (b) $ 1 (b) $ — $ 2 Load (0.01) — (b) (8) — (b) (3) (b) — (11) Distribution and transmission rates (2) 0.14 10 (c) 80 (c) 12 (c) 36 (c) — 138 Other energy delivery (3) 0.02 19 (c) (6) (c) 2 (c) 7 (c) — 22 Operating and maintenance expense (4) 0.08 1 54 31 (8) — 78 Pension and non-pension postretirement benefits — (1) (1) — — 1 (1) Depreciation and amortization expense (5) (0.01) (5) (5) (1) 1 2 (8) Interest expense and other (6) (0.05) (11) 17 (7) (22) (31) (54) Total year over year effects on Adjusted (non-GAAP) Operating Earnings $ 0.15 $ 13 $ 132 $ 37 $ 12 $ (28) $ 166 2025 GAAP net income (loss) $ 0.86 $ 373 $ 250 $ 82 $ 291 $ (121) $ 875 Asset retirement obligation (net of taxes of $0) — — — — (1) — (1) 2025 Adjusted (non-GAAP) operating earnings (loss) $ 0.86 $ 373 $ 250 $ 82 $ 290 $ (121) $ 874 Note: Amounts may not sum due to rounding. Unless otherwise noted, the income tax impact of each reconciling item between GAAP net income and Adjusted (non-GAAP) operating earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items, the marginal statutory income tax rates for 2025 and 2024 ranged from 24.0% to 29.0%. (a) Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities, and other financing and investment activities. (b) For ComEd, BGE, Pepco, DPL Maryland, and ACE, customer rates are adjusted to eliminate the impacts of weather and customer usage on distribution volumes. (c) ComEd's distribution rate revenues increase or decrease as fully recoverable costs fluctuate. For regulatory recovery mechanisms, including transmission formula rates and riders across the utilities, revenues increase and decrease i) as fully recoverable costs fluctuate (with no impact on net earnings), and ii) pursuant to changes in rate base, capital structure and ROE (which impact net earnings). (1) Primarily represents severance and reorganization costs related to cost management. (2) For ComEd, reflects higher distribution and transmission rate base. For PECO, reflects increased distribution revenue primarily due to electric and gas rates. For BGE, reflects increased distribution revenue due to rates. For PHI, reflects higher distribution and transmission revenue primarily due to rates. (3) For ComEd, reflects higher fully recoverable costs and a higher return on regulatory assets, partially offset by decreased electric distribution revenues due to the timing of distribution earnings. (4) Represents Operating and maintenance expense, excluding pension and non-pension postretirement benefits. For PECO, primarily reflects decreased storm costs due to deferral of extraordinary February and June storm costs. For BGE, reflects decreased storm costs and credit loss expense. (5) Across all utilities, reflects ongoing capital expenditures offset by regulatory asset amortization. (6) For ComEd, reflects an increase in interest expense offset by higher AFUDC. For PECO, primarily reflects lower income tax expense due to tax repairs deduction, some of which is timing. For PHI, primarily reflects an increase in interest expense. For Corporate, primarily reflects higher income tax expense due to timing and an increase in interest expense. 6 Table of Contents Exelon Reconciliation of GAAP Net Income (Loss) to Adjusted (non-GAAP) Operating Earnings and Analysis of Earnings Nine Months Ended September 30, 2025 and 2024 (unaudited) (in millions, except per share data) Exelon Earnings per Diluted Share ComEd PECO BGE PHI Other (a) Exelon 2024 GAAP net income (loss) $ 1.81 $ 823 $ 356 $ 353 $ 603 $ (322) $ 1,813 Change in environmental liabilities (net of taxes of $0) — — — — (1) — (1) Change in FERC audit liability (net of taxes of $13) 0.04 40 — — — 2 42 Cost management charge (net of taxes of $1, $0, $2, and $3, respectively) (1) 0.01 — 4 1 5 — 10 2024 Adjusted (non-GAAP) operating earnings (loss) $ 1.86 $ 863 $ 360 $ 354 $ 607 $ (319) $ 1,865 Year over year effects on Adjusted (non-GAAP) operating earnings: Weather $ 0.03 $ — (b) $ 27 $ — (b) $ 4 (b) $ — $ 31 Load (0.01) — (b) (11) — (b) — (b) — (11) Distribution and transmission rates (2) 0.43 30 (c) 246 (c) 53 (c) 109 (c) — 438 Other energy delivery (3) 0.15 80 (c) 23 (c) 5 (c) 41 (c) — 149 Operating and maintenance expense (4) (0.09) — — 8 (74) (21) (87) Pension and non-pension postretirement benefits — (2) (2) — 1 — (3) Depreciation and amortization expense (5) (0.03) (27) (14) 1 11 2 (27) Interest expense and other (6) (0.16) (18) 23 (23) (71) (68) (157) Total year over year effects on Adjusted (non-GAAP) operating earnings $ 0.31 $ 63 $ 292 $ 44 $ 21 $ (87) $ 333 2025 GAAP net income (loss) $ 2.15 $ 903 $ 652 $ 398 $ 628 $ (407) $ 2,174 Asset Retirement Obligation (net of taxes of $0) — — — — (1) — (1) Change in FERC audit liability (net of taxes of $1) — 2 — — — — 2 Cost management charge (net of taxes of $0) (1) — — (1) — — — (1) Income tax-related adjustments (entire amount represents tax expense) (7) — — — — 1 — 1 Regulatory matters (net of taxes of $7) (8) 0.02 21 — — — 1 22 2025 Adjusted (non-GAAP) operating earnings (loss) $ 2.17 $ 926 $ 652 $ 398 $ 628 $ (406) $ 2,198 Note: Amounts may not sum due to rounding. Unless otherwise noted, the income tax impact of each reconciling item between GAAP net income and Adjusted (non-GAAP) operating earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items, the marginal statutory income tax rates for 2025 and 2024 ranged from 24.0% to 29.0%. (a) Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities, and other financing and investment activities. (b) For ComEd, BGE, Pepco, DPL Maryland, and ACE, customer rates are adjusted to eliminate the impacts of weather and customer usage on distribution volumes. (c) ComEd's distribution rate revenues increase or decrease as fully recoverable costs fluctuate. For other regulatory recovery mechanisms, including transmission formula rates and riders across the utilities, revenues increase and decrease i) as fully recoverable costs fluctuate (with no impact on net earnings), and ii) pursuant to changes in rate base, capital structure, and ROE (which impact net earnings). (1) Primarily represents severance and reorganization costs related to cost management. (2) For ComEd, reflects higher distribution and transmission rate base. For PECO, reflects increased distribution revenue primarily due to electric and gas rates. For BGE, reflects increased distribution and transmission revenue due to rates. For PHI, reflects increased distribution and transmission revenue primarily due to rates. (3) For ComEd, reflects increased electric distribution, energy efficiency, and transmission revenues due to higher fully recoverable costs, a higher return on regulatory assets, and increased electric distribution revenues due to timing of distribution earnings, partially offset by lower transmission peak load. For PHI, reflects higher distribution and transmission revenues due to higher fully recoverable costs. (4) Represents Operating and maintenance expense, excluding pension and non-pension postretirement benefits. For PECO and BGE, reflects decreased storm costs, partially offset by increased contracting costs. For PHI, reflects increased contracting costs and credit loss expense and lower impacts of the Maryland multi-year plan reconciliations. For Corporate, reflects the Customer Relief Fund contribution, partially offset by a decrease in Operating and maintenance expense with an offsetting decrease in other income for an absence of costs billed to Constellation for services provided by Exelon through the TSA. (5) Across all utilities, reflects ongoing capital expenditures offset by regulatory asset amortization. (6) For ComEd, reflects an increase in interest expense offset by higher AFUDC. For PECO, primarily reflects lower income tax expense due to tax repairs deduction, some of which is timing, partially offset by an increase in interest expense. For BGE and PHI, primarily reflects an increase in interest expense. For Corporate, primarily reflects higher income tax expense due to timing, an absence of billings to Constellation for services provided by Exelon through the TSA with an offsetting decrease in Operating and maintenance expense, and an increase in interest expense. (7) Reflects the adjustment to state deferred income taxes due to changes in forecasted apportionment. (8) Represents the probable disallowance of certain capitalized costs. 7 Table of Contents ComEd Statistics Three Months Ended September 30, 2025 and 2024 Electric Deliveries (in GWhs) Revenue (in millions) 2025 2024 % Change Weather - Normal % Change 2025 2024 % Change Electric Deliveries and Revenues (a) Residential 8,659 8,409 3.0 % (0.4) % $ 1,365 $ 1,117 22.2 % Small commercial & industrial 8,004 7,869 1.7 % 0.9 % 645 603 7.0 % Large commercial & industrial 7,701 6,903 11.6 % 6.5 % 217 286 (24.1) % Public authorities & electric railroads 224 210 6.7 % 6.5 % 14 11 27.3 % Other (b) — — n/a n/a 229 280 (18.2) % Total electric revenues (c) 24,588 23,391 5.1 % 2.2 % 2,470 2,297 7.5 % Other Revenues (d) (195) (68) 186.8 % Total electric revenues $ 2,275 $ 2,229 2.1 % Purchased Power $ 806 $ 835 (3.5) % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 37 15 79 146.7 % (53.2) % Cooling Degree-Days 828 818 722 1.2 % 14.7 % Nine Months Ended September 30, 2025 and 2024 Electric Deliveries (in GWhs) Revenue (in millions) 2025 2024 % Change Weather - Normal % Change 2025 2024 % Change Electric Deliveries and Revenues (a) Residential 21,886 21,617 1.2 % (0.1) % $ 3,452 $ 3,017 14.4 % Small commercial & industrial 22,284 21,586 3.2 % 0.6 % 1,799 1,755 2.5 % Large commercial & industrial 21,435 20,577 4.2 % 3.7 % 689 875 (21.3) % Public authorities & electric railroads 668 589 13.4 % 12.7 % 43 43 — % Other (b) — — n/a n/a 688 803 (14.3) % Total electric revenues (c) 66,273 64,369 3.0 % 1.5 % 6,671 6,493 2.7 % Other Revenues (d) (495) (90) 450.0 % Total electric revenues $ 6,176 $ 6,403 (3.5) % Purchased Power $ 2,044 $ 2,504 (18.4) % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 3,698 3,028 3,829 22.1 % (3.4) % Cooling Degree-Days 1,158 1,176 988 (1.5) % 17.2 % Number of Electric Customers 2025 2024 Residential 3,767,493 3,703,677 Small commercial & industrial 398,022 393,796 Large commercial & industrial 1,931 2,044 Public authorities & electric railroads 5,798 5,762 Total 4,173,244 4,105,279 __________ (a) Reflects revenues from customers purchasing electricity directly from ComEd and customers purchasing electricity from a competitive electric generation supplier, as all customers are assessed delivery charges. For customers purchasing electricity from ComEd, revenues also reflect the cost of energy and transmission. (b) Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. (c) Includes operating revenues from affiliates totaling $2 million for both the three months ended September 30, 2025 and 2024, respectively, and $19 million and $6 million for the nine months ended September 30, 2025 and 2024, respectively. (d) Includes alternative revenue programs and late payment charges. 8 Table of Contents PECO Statistics Three Months Ended September 30, 2025 and 2024 Electric and Natural Gas Deliveries Revenue (in millions) 2025 2024 % Change Weather- Normal % Change 2025 2024 % Change Electric (in GWhs) Electric Deliveries and Revenues (a) Residential 4,063 4,146 (2.0) % (2.1) % $ 735 $ 641 14.7 % Small commercial & industrial 2,057 2,129 (3.4) % (2.0) % 167 153 9.2 % Large commercial & industrial 3,731 3,768 (1.0) % (2.3) % 101 73 38.4 % Public authorities & electric railroads 159 156 1.9 % 1.7 % 8 7 14.3 % Other (b) — — n/a n/a 78 74 5.4 % Total electric revenues (c) 10,010 10,199 (1.9) % (2.1) % 1,089 948 14.9 % Other Revenues (d) 8 12 (33.3) % Total Electric Revenues 1,097 960 14.3 % Natural Gas (in mmcfs) Natural Gas Deliveries and Revenues (e) Residential 2,064 2,359 (12.5) % (12.1) % 50 44 13.6 % Small commercial & industrial 2,243 1,933 16.0 % 17.5 % 23 17 35.3 % Large commercial & industrial — 1 (100.0) % (9.8) % 1 — n/a Transportation 5,081 5,232 (2.9) % (2.6) % 7 7 — % Other (f) — — n/a n/a 1 2 (50.0) % Total natural gas revenues (g) 9,388 9,525 (1.4) % (1.2) % 82 70 17.1 % Other Revenues (d) 1 — n/a Total Natural Gas Revenues 83 70 18.6 % Total Electric and Natural Gas Revenues $ 1,180 $ 1,030 14.6 % Purchased Power and Fuel $ 446 $ 386 15.5 % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days — 1 20 (100.0) % (100.0) % Cooling Degree-Days 1,095 1,062 1,035 3.1 % 5.8 % 9 Table of Contents Nine Months Ended September 30, 2025 and 2024 Electric and Natural Gas Deliveries Revenue (in millions) 2025 2024 % Change Weather- Normal % Change 2025 2024 % Change Electric (in GWhs) Electric Deliveries and Revenues (a) Residential 10,952 10,897 0.5 % (1.5) % $ 1,921 $ 1,683 14.1 % Small commercial & industrial 5,835 5,876 (0.7) % (2.0) % 484 407 18.9 % Large commercial & industrial 10,470 10,531 (0.6) % (1.4) % 260 191 36.1 % Public authorities & electric railroads 511 470 8.7 % 8.6 % 26 21 23.8 % Other (b) — — n/a n/a 231 221 4.5 % Total electric revenues (c) 27,768 27,774 — % (1.4) % 2,922 2,523 15.8 % Other Revenues (d) 11 14 (21.4) % Total electric revenues 2,933 2,537 15.6 % Natural Gas (in mmcfs) Natural Gas Deliveries and Revenues (e) Residential 28,469 25,779 10.4 % (0.5) % 396 300 32.0 % Small commercial & industrial 16,046 14,742 8.8 % 1.8 % 140 106 32.1 % Large commercial & industrial 14 17 (17.6) % (3.8) % 1 — n/a Transportation 17,759 17,248 3.0 % 0.4 % 28 20 40.0 % Other (f) — — n/a n/a 13 11 18.2 % Total natural gas revenues (g) 62,288 57,786 7.8 % 0.3 % 578 437 32.3 % Other Revenues (d) 2 1 100.0 % Total natural gas revenues 580 438 32.4 % Total electric and natural gas revenues $ 3,513 $ 2,975 18.1 % Purchased Power and Fuel $ 1,288 $ 1,113 15.7 % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 2,684 2,441 2,827 10.0 % (5.1) % Cooling Degree-Days 1,521 1,599 1,422 (4.9) % 7.0 % Number of Electric Customers 2025 2024 Number of Natural Gas Customers 2025 2024 Residential 1,539,345 1,529,205 Residential 510,166 506,476 Small commercial & industrial 154,955 155,126 Small commercial & industrial 44,603 44,682 Large commercial & industrial 3,159 3,156 Large commercial & industrial 7 7 Public authorities & electric railroads 10,343 10,716 Transportation 619 643 Total 1,707,802 1,698,203 Total 555,395 551,808 __________ (a) Reflects delivery volumes and revenues from customers purchasing electricity directly from PECO and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from PECO, revenues also reflect the cost of energy and transmission. (b) Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. (c) Includes operating revenues from affiliates totaling $2 million and $3 million for the three months ended September 30, 2025 and 2024, respectively, and $7 million and $5 million for the nine months ended September 30, 2025 and 2024, respectively. (d) Includes alternative revenue programs and late payment charges. (e) Reflects delivery volumes and revenues from customers purchasing natural gas directly from PECO and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from PECO, revenue also reflects the cost of natural gas. (f) Includes revenues primarily from off-system sales. (g) Includes operating revenues from affiliates totaling $1 million for both the three months ended September 30, 2025 and 2024, respectively, and $2 million for both the nine months ended September 30, 2025 and 2024, respectively. 10 Table of Contents BGE Statistics Three Months Ended September 30, 2025 and 2024 Electric and Natural Gas Deliveries Revenue (in millions) 2025 2024 % Change Weather- Normal % Change 2025 2024 % Change Electric (in GWhs) Electric Deliveries and Revenues (a) Residential 3,501 3,589 (2.5) % 2.0 % $ 684 $ 558 22.6 % Small commercial & industrial 722 733 (1.5) % 2.3 % 113 96 17.7 % Large commercial & industrial 3,608 3,675 (1.8) % 0.8 % 172 154 11.7 % Public authorities & electric railroads 49 46 6.5 % 4.6 % 8 8 — % Other (b) — — n/a n/a 122 110 10.9 % Total electric revenues (c) 7,880 8,043 (2.0) % 1.5 % 1,099 926 18.7 % Other Revenues (d) (8) (1) 700.0 % Total electric revenues 1,091 925 17.9 % Natural Gas (in mmcfs) Natural Gas Deliveries and Revenues (e) Residential 2,188 2,210 (1.0) % (0.6) % 68 58 17.2 % Small commercial & industrial 810 781 3.7 % 3.8 % 14 11 27.3 % Large commercial & industrial 7,183 7,058 1.8 % 4.7 % 37 32 15.6 % Other (f) 691 426 62.2 % n/a 6 3 100.0 % Total natural gas revenues (g) 10,872 10,475 3.8 % 3.4 % 125 104 20.2 % Other Revenues (d) (7) 15 (146.7) % Total natural gas revenues 118 119 (0.8) % Total electric and natural gas revenues $ 1,209 $ 1,044 15.8 % Purchased Power and Fuel $ 568 $ 420 35.2 % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 52 48 67 8.3 % (22.4) % Cooling Degree-Days 605 701 625 (13.7) % (3.2) % 11 Table of Contents Nine Months Ended September 30, 2025 and 2024 Electric and Natural Gas Deliveries Revenue (in millions) 2025 2024 % Change Weather- Normal % Change 2025 2024 % Change Electric (in GWhs) Electric Deliveries and Revenues (a) Residential 9,872 9,755 1.2 % (0.8) % $ 1,829 $ 1,556 17.5 % Small commercial & industrial 2,075 2,078 (0.1) % (0.4) % 311 274 13.5 % Large commercial & industrial 9,981 10,061 (0.8) % 0.1 % 456 425 7.3 % Public authorities & electric railroads 146 150 (2.7) % (3.0) % 25 24 4.2 % Other (b) — — n/a n/a 352 303 16.2 % Total electric revenues (c) 22,074 22,044 0.1 % (0.4) % 2,973 2,582 15.1 % Other Revenues (d) (22) 6 (466.7) % Total electric revenues 2,951 2,588 14.0 % Natural Gas (in mmcfs) Natural Gas Deliveries and Revenues (e) Residential 27,426 24,489 12.0 % (2.7) % 555 418 32.8 % Small commercial & industrial 6,728 5,994 12.2 % 2.4 % 100 76 31.6 % Large commercial & industrial 29,504 28,890 2.1 % (0.5) % 178 143 24.5 % Other (f) 5,042 1,323 281.1 % n/a 37 12 208.3 % Total natural gas revenues (g) 68,700 60,696 13.2 % (1.2) % 870 649 34.1 % Other Revenues (d) (30) 31 (196.8) % Total natural gas revenues 840 680 23.5 % Total electric and natural gas revenues $ 3,791 $ 3,268 16.0 % Purchased Power and Fuel $ 1,584 $ 1,228 29.0 % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 2,710 2,429 2,879 11.6 % (5.9) % Cooling Degree-Days 896 1,039 871 (13.8) % 2.9 % Number of Electric Customers 2025 2024 Number of Natural Gas Customers 2025 2024 Residential 1,220,937 1,215,873 Residential 660,241 658,485 Small commercial & industrial 115,246 115,032 Small commercial & industrial 37,731 37,752 Large commercial & industrial 13,432 13,206 Large commercial & industrial 6,404 6,353 Public authorities & electric railroads 254 260 Total 1,349,869 1,344,371 Total 704,376 702,590 __________ (a) Reflects revenues from customers purchasing electricity directly from BGE and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from BGE, revenues also reflect the cost of energy and transmission. (b) Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. (c) Includes operating revenues from affiliates totaling $1 million and $2 million for the three months ended September 30, 2025 and 2024, respectively, and $4 million and $5 million for the nine months ended September 30, 2025 and 2024, respectively. (d) Includes alternative revenue programs and late payment charges. (e) Reflects delivery volumes and revenues from customers purchasing natural gas directly from BGE and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from BGE, revenue also reflects the cost of natural gas. (f) Includes revenues primarily from off-system sales. (g) Includes operating revenues from affiliates totaling $1 million for both the three months ended September 30, 2025 and 2024, respectively, and $2 million for both the nine months ended September 30, 2025 and 2024, respectively. 12 Table of Contents Pepco Statistics Three Months Ended September 30, 2025 and 2024 Electric Deliveries (in GWhs) Revenue (in millions) 2025 2024 % Change Weather- Normal % Change 2025 2024 % Change Electric Deliveries and Revenues (a) Residential 2,323 2,432 (4.5) % 0.4 % $ 501 $ 426 17.6 % Small commercial & industrial 284 306 (7.2) % (3.7) % 56 52 7.7 % Large commercial & industrial 3,798 3,834 (0.9) % 2.0 % 331 281 17.8 % Public authorities & electric railroads 168 164 2.4 % 2.7 % 8 9 (11.1) % Other (b) — — n/a n/a 98 85 15.3 % Total electric revenues (c) 6,573 6,736 (2.4) % 1.2 % 994 853 16.5 % Other Revenues (d) (2) 8 (125.0) % Total electric revenues $ 992 $ 861 15.2 % Purchased Power $ 367 $ 294 24.8 % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days — — 8 n/a (100.0) % Cooling Degree-Days 1,080 1,229 1,206 (12.1) % (10.4) % Nine Months Ended September 30, 2025 and 2024 Electric Deliveries (in GWhs) Revenue (in millions) 2025 2024 % Change Weather- Normal % Change 2025 2024 % Change Electric Deliveries and Revenues (a) Residential 6,396 6,300 1.5 % 3.3 % $ 1,273 $ 1,085 17.3 % Small commercial & industrial 853 856 (0.4) % 1.4 % 155 141 9.9 % Large commercial & industrial 10,625 10,535 0.9 % 2.4 % 911 794 14.7 % Public authorities & electric railroads 500 454 10.1 % 9.8 % 29 26 11.5 % Other (b) — — n/a n/a 274 224 22.3 % Total electric revenues (c) 18,374 18,145 1.3 % 2.9 % 2,642 2,270 16.4 % Other Revenues (d) (16) 50 (132.0) % Total electric revenues $ 2,626 $ 2,320 13.2 % Purchased Power $ 942 $ 808 16.6 % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 2,205 2,006 2,350 9.9 % (6.2) % Cooling Degree-Days 1,630 1,879 1,727 (13.3) % (5.6) % Number of Electric Customers 2025 2024 Residential 885,063 875,456 Small commercial & industrial 53,939 54,058 Large commercial & industrial 23,203 23,054 Public authorities & electric railroads 205 207 Total 962,410 952,775 __________ (a) Reflects revenues from customers purchasing electricity directly from Pepco and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from Pepco, revenues also reflect the cost of energy and transmission. (b) Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. (c) Includes operating revenues from affiliates totaling $2 million for both the three months ended September 30, 2025 and 2024, respectively, and $4 million and $5 million nine months ended September 30, 2025 and 2024 respectively. (d) Includes alternative revenue programs and late payment charge revenues. 13 Table of Contents DPL Statistics Three Months Ended September 30, 2025 and 2024 Electric and Natural Gas Deliveries Revenue (in millions) 2025 2024 % Change Weather - Normal % Change 2025 2024 % Change Electric (in GWhs) Electric Deliveries and Revenues (a) Residential 1,510 1,578 (4.3) % (4.6) % $ 283 $ 267 6.0 % Small commercial & industrial 651 672 (3.1) % (3.1) % 72 69 4.3 % Large commercial & industrial 1,162 1,115 4.2 % 4.4 % 32 31 3.2 % Public authorities & electric railroads 10 10 — % (1.0) % 4 4 — % Other (b) — — n/a n/a 77 70 10.0 % Total electric revenues (c) 3,333 3,375 (1.2) % (1.3) % 468 441 6.1 % Other Revenues (d) (4) (2) 100.0 % Total electric revenues 464 439 5.7 % Natural Gas (in mmcfs) Natural Gas Deliveries and Revenues (e) Residential 409 397 3.0 % 5.7 % 13 11 18.2 % Small commercial & industrial 375 343 9.3 % 10.9 % 7 6 16.7 % Large commercial & industrial 404 408 (1.0) % (1.1) % 1 1 — % Transportation 1,239 1,190 4.1 % 4.3 % 4 4 — % Other (f) — — n/a n/a 2 1 100.0 % Total natural gas revenues 2,427 2,338 3.8 % 4.7 % 27 23 17.4 % Other Revenues (d) — — n/a Total natural gas revenues 27 23 17.4 % Total electric and natural gas revenues $ 491 $ 462 6.3 % Purchased Power and Fuel $ 219 $ 203 7.9 % Electric Service Territory % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 4 14 24 (71.4) % (83.3) % Cooling Degree-Days 862 858 927 0.5 % (7.0) % Natural Gas Service Territory % Change Heating Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 3 13 34 (76.9) % (91.2) % 14 Table of Contents Nine Months Ended September 30, 2025 and 2024 Electric and Natural Gas Deliveries Revenue (in millions) 2025 2024 % Change Weather - Normal % Change 2025 2024 % Change Electric (in GWhs) Electric Deliveries and Revenues (a) Residential 4,245 4,188 1.4 % (1.7) % $ 792 $ 725 9.2 % Small commercial & industrial 1,824 1,793 1.7 % 1.3 % 200 191 4.7 % Large commercial & industrial 3,133 3,115 0.6 % 0.2 % 92 91 1.1 % Public authorities & electric railroads 31 30 3.3 % 3.0 % 13 12 8.3 % Other (b) — — n/a n/a 224 198 13.1 % Total electric revenues (c) 9,233 9,126 1.2 % (0.5) % 1,321 1,217 8.5 % Other Revenues (d) (9) 4 (325.0) % Total electric revenues 1,312 1,221 7.5 % Natural Gas (in mmcfs) Natural Gas Deliveries and Revenues (e) Residential 5,802 5,162 12.4 % 6.9 % 86 72 19.4 % Small commercial & industrial 2,881 2,590 11.2 % 5.7 % 35 29 20.7 % Large commercial & industrial 1,237 1,239 (0.2) % (0.1) % 6 4 50.0 % Transportation 4,626 4,491 3.0 % 1.4 % 13 12 8.3 % Other (f) — — n/a n/a 8 5 60.0 % Total natural gas revenues 14,546 13,482 7.9 % 4.3 % 148 122 21.3 % Other Revenues (d) — — n/a Total natural gas revenues 148 122 21.3 % Total electric and natural gas revenues $ 1,460 $ 1,343 8.7 % Purchased Power and Fuel $ 637 $ 573 11.2 % Electric Service Territory % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 2,726 2,517 2,800 8.3 % (2.6) % Cooling Degree-Days 1,278 1,256 1,278 1.8 % — % Natural Gas Service Territory % Change Heating Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 2,774 2,620 2,970 5.9 % (6.6) % Number of Electric Customers 2025 2024 Number of Natural Gas Customers 2025 2024 Residential 494,232 489,634 Residential 131,494 130,885 Small commercial & industrial 65,322 64,626 Small commercial & industrial 10,134 10,110 Large commercial & industrial 1,257 1,267 Large commercial & industrial 14 14 Public authorities & electric railroads 632 598 Transportation 160 161 Total 561,443 556,125 Total 141,802 141,170 __________ (a) Reflects delivery volumes and revenues from customers purchasing electricity directly from DPL and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from DPL, revenues also reflect the cost of energy and transmission. (b) Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. (c) Includes operating revenues from affiliates totaling $2 million for both the three months ended September 30, 2025 and 2024, respectively and $6 million and $5 million for the nine months ended September 30, 2025 and 2024, respectively. (d) Includes alternative revenue programs and late payment charges. (e) Reflects delivery volumes and revenues from customers purchasing natural gas directly from DPL and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from DPL, revenue also reflects the cost of natural gas. (f) Includes revenues primarily from off-system sales. 15 Table of Contents ACE Statistics Three Months Ended September 30, 2025 and 2024 Electric Deliveries (in GWhs) Revenue (in millions) 2025 2024 % Change Weather - Normal % Change 2025 2024 % Change Electric Deliveries and Revenues (a) Residential 1,335 1,343 (0.6) % 3.9 % $ 363 $ 323 12.4 % Small commercial & industrial 483 519 (6.9) % (5.9) % 82 82 — % Large commercial & industrial 790 885 (10.7) % (9.5) % 43 53 (18.9) % Public authorities & electric railroads 9 10 (10.0) % (6.0) % 4 5 (20.0) % Other (b) — — n/a n/a 62 71 (12.7) % Total electric revenues (c) 2,617 2,757 (5.1) % (2.3) % 554 534 3.7 % Other Revenues (d) 16 6 166.7 % Total electric revenues $ 570 $ 540 5.6 % Purchased Power $ 286 $ 245 16.7 % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 11 19 31 (42.1) % (64.5) % Cooling Degree-Days 755 828 888 (8.8) % (15.0) % Nine Months Ended September 30, 2025 and 2024 Electric Deliveries (in GWhs) Revenue (in millions) 2025 2024 % Change Weather - Normal % Change 2025 2024 % Change Electric Deliveries and Revenues (a) Residential 3,180 3,232 (1.6) % 1.0% $ 782 $ 727 7.6 % Small commercial & industrial 1,253 1,246 0.6 % 2.0% 193 187 3.2 % Large commercial & industrial 2,237 2,348 (4.7) % (3.4) % 141 149 (5.4) % Public authorities & electric railroads 32 32 — % (0.7) % 14 14 — % Other (b) — — n/a n/a 196 206 (4.9) % Total electric revenues (c) 6,702 6,858 (2.3) % (0.4) % 1,326 1,283 3.4 % Other Revenues (d) 2 (3) (166.7) % Total electric revenues $ 1,328 $ 1,280 3.8 % Purchased Power $ 616 $ 557 10.6 % % Change Heating and Cooling Degree-Days 2025 2024 Normal From 2024 From Normal Heating Degree-Days 2,851 2,685 2,955 6.2 % (3.5) % Cooling Degree-Days 1,093 1,242 1,197 (12.0) % (8.7) % Number of Electric Customers 2025 2024 Residential 509,739 507,060 Small commercial & industrial 62,923 62,761 Large commercial & industrial 2,730 2,848 Public authorities & electric railroads 745 707 Total 576,137 573,376 __________ (a) Reflects delivery volumes and revenues from customers purchasing electricity directly from ACE and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from ACE, revenues also reflect the cost of energy and transmission. (b) Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue. (c) Includes operating revenues from affiliates totaling $1 million and $1 million for the three months ended September 30, 2025 and 2024, respectively and $3 million and $2 million for the nine months ended September 30, 2025 and 2024, respectively. (d) Includes alternative revenue programs. 16

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.