Southern Company — May 1, 2025 release

(3) Earnings for the three months ended March 31, 2025 include a pre-tax charge, net of noncontrolling interests impacts, of $26 million ($20 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 6 Southern Company Significant Factors Impacting EPS   Three Months Ended March   2025 2024 Change Earnings Per Share – As Reported (1) $ 1.21   $ 1.03  $ 0.18     Significant Factors:     Traditional Electric Operating Companies $ 0.19   Southern Power (0.01) Southern Company Gas 0.01   Parent Company and Other —   Increase in Shares (0.01)   Total – As Reported $ 0.18   Three Months Ended March Non-GAAP Financial Measures 2025 2024 Change Earnings Per Share – Excluding Items $ 1.23   $ 1.03  $ 0.20     Total – As Reported $ 0.18   Less: Estimated Loss on Plants Under Construction (2) —   Accelerated Depreciation from Repowering (3) (0.02)   Total – Excluding Items $ 0.20   See Notes on the following page. Page 7 Southern Company Significant Factors Impacting EPS Notes (1) Dilution is not material in any period presented. Diluted earnings per share was $1.21 and $1.03 for the three months ended March 31, 2025 and 2024, respectively. (2) Earnings for the three months ended March 31, 2025 and 2024 include charges (net of s