Southern Company — Apr 30, 2026 release

(2) Earnings include pre-tax charges of $154 million ($120 million after tax) and $26 million ($20 million after tax, net of noncontrolling interest impacts) for the three months ended March 31, 2026 and 2025, respectively, associated with accelerated depreciation related to the repowering of certain wind facilities at Southern Power Company. Accelerated depreciation related to the equipment being replaced will continue until the completion dates of the repowering projects, which are projected to occur through the third quarter 2027. At March 31, 2026, the remaining pre-tax accelerated depreciation is projected to total approximately $335 million in 2026 and $100 million in 2027. (3) Earnings for the three months ended March 31, 2026 include costs associated with the extinguishment of debt at Southern Company as a result of Southern Company's redemption of certain junior subordinated notes. Similar transaction costs may occur in the future at Southern Company or one of its unregulated subsidiaries; however, the amount and timing of any such costs are uncertain. (4) Earnings for the three months ended March 31, 2026 include an estimated loss of $2 million (before and after tax) at Southern Company Gas related to costs associated with Nicor Gas capital investments disallowed by the Illinois Commerce Commission in November 2025. Further charges may occur; however, the amount and timing of any such charges are uncertain. (5) Earnings for the three months ended March 31, 2025 include charges (net of salvage proceeds), associated legal expenses (net of insurance recoveries), and tax impacts related to Mississippi Power Company's integrated coal gasification combined cycle facility project in Kemper County, Mississi