Southern Company — Feb 20, 2025 release

(7) Earnings for the three and twelve months ended December 31, 2024 include a pre-tax charge, net of noncontrolling interests impacts, of $9 million ($7 million after tax) associated with accelerated depreciation related to the repowering of the Kay Wind facility at Southern Power. Accelerated depreciation related to the equipment being replaced will continue until commercial operation of the repowering project, which is projected to occur in the third quarter 2026. Pre-tax accelerated depreciation, net of noncontrolling interest impacts, is projected to total approximately $100 million in 2025 and $40 million in 2026. Page 7 Southern Company Significant Factors Impacting EPS   Three Months Ended December Year-To-Date December   2024 2023 Change 2024 2023 Change Earnings Per Share – As Reported (1) $ 0.49   $ 0.78  $ (0.29) $ 4.02   $ 3.64  $ 0.38     Significant Factors:     Traditional Electric Operating Companies $ (0.25) $ 0.47   Southern Power —   (0.03) Southern Company Gas 0.04   0.11   Parent Company and Other (0.08) (0.16) Increase in Shares —   (0.01)   Total – As Reported $ (0.29) $ 0.38   Three Months Ended December Year-To-Date December Non-GAAP Financial Measures 2024 2023 Change 2024 2023 Change Earnings Per Share – Excluding Items $ 0.50   $ 0.64  $ (0.14) $ 4.05   $ 3.65  $ 0.40     Total – As Reported $ (0.29) $ 0.38   Less: Estimated Loss on Plants Under Construction (2) (0.15) (0.04) Acquisition and Disposition Impacts (3) (0.03) (0.03) Loss on Extinguishment of Debt (4) —   —   Estimated Loss on Qualifying Infrastructure Plant and Other Capital Investments (5) 0.04   0.07   Impairments (6) —   (0.02) Accelerated Deprecia