Exhibit 99.1
News Release

exelonlogoa.jpg
Contact:  Khanya Brann
Corporate Communications
301-535-3292

Ryan Brown
Investor Relations
779-231-0017
EXELON REPORTS FIRST QUARTER 2026 RESULTS
Earnings Release Highlights
•GAAP net income of $0.90 per share and Adjusted (non-GAAP) operating earnings of $0.91 per share for the first quarter of 2026
•Affirming full year 2026 Adjusted (non-GAAP) operating earnings guidance range of $2.81-$2.91 per share and operating EPS compounded annual growth near top end of 5-7% from 2025 to 2029
•Projecting $41.7 billion of capital expenditures over the next four years, resulting in expected rate base growth of 7.9%
•All utilities sustained top quartile in reliability performance, with ComEd in top decile
•Through March 31, completed approximately 43% of planned debt financings, including all of its Holding Company issuances, and priced approximately 37% of its $3.4 billion of equity needs through 2029

CHICAGO (May 6, 2026) — Exelon Corporation (Nasdaq: EXC) today reported its financial results for the first quarter of 2026.

“Exelon is on track for another year of consistent operational and financial performance. Our scale, platform, and disciplined execution allow us to adapt as conditions evolve to continue delivering on our commitments over the long term,” said Exelon President and Chief Executive Officer Calvin Butler. “Through The Exelon Promise, we are committed to balancing affordability while advancing safety, reliability, and investments that strengthen the grid and support the communities we serve – today and in the future.”

“We delivered first quarter 2026 adjusted operating earnings of $0.91 per share while maintaining strong operational performance, continuing our track record of execution as a standalone utility,” said Exelon Chief Financial Officer Jeanne Jones. “With a revised $41.7 billion four-year capital plan, 7.9% rate base growth, and a disciplined focus on cost management, we remain well-positioned to deliver annualized earnings growth near the top end of 5% to 7% through 2029. Our results and outlook underscore the durability of our business and our ability to adapt and execute while continuing to invest in a way that balances the needs of our customers with the grid of the future.”

1

First Quarter 2026
Exelon's GAAP net income for the first quarter of 2026 remained relatively consistent with the prior period at $0.90 per share. Adjusted (non-GAAP) operating earnings for the first quarter of 2026 decreased to $0.91 per share from $0.92 per share in the first quarter of 2025. 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 first quarter of 2026 primarily reflect:
•Higher costs at the Exelon holding company primarily due to higher income taxes and higher interest expense.
•Higher utility earnings primarily due to approved distribution and transmission rates at ComEd and PHI, approved distribution rates at BGE, absence of customer surcharge credits at PECO, higher allowance for funds used during construction (AFUDC) at ComEd, and favorable weather and lower income taxes at PECO. This was partially offset by timing of distribution earnings at ComEd, higher depreciation expense at PECO and PHI, higher interest expense at PECO, higher credit loss expense at BGE, and unfavorable impacts of the Pepco Maryland multi-year plan reconciliation. Note that rate increases are associated with updated recovery rates for costs and investments to serve customers, driving top quartile reliability and avoiding outage costs.
Operating Company Results1
ComEd
ComEd's first quarter of 2026 GAAP net income increased to $310 million from $302 million in the first quarter of 2025. ComEd's Adjusted (non-GAAP) operating earnings for the first quarter of 2026 decreased to $310 million from $325 million in the first quarter of 2025, primarily due to timing of distribution earnings, partially offset by an increase in AFUDC and higher distribution and transmission rate base driven by incremental investments to serve customers, driving top quartile reliability and avoiding outage costs. Due to revenue decoupling, ComEd's distribution earnings are not intended to be affected by actual weather or customer usage patterns.
PECO
PECO’s first quarter of 2026 GAAP net income increased to $278 million from $266 million in the first quarter of 2025. PECO's Adjusted (non-GAAP) operating earnings for the first quarter of 2026 increased to $278 million from $265 million in the first quarter of 2025, primarily due to absence of customer surcharge credits, favorable weather, and lower income taxes due to tax repairs, some of which is timing, partially offset by an increase in depreciation and interest expense.




___________
1 Exelon’s four business units include ComEd, which consists of electricity transmission and distribution operations in northern Illinois (and transmission in a small portion of northwestern Indiana); 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 first quarter of 2026 GAAP net income increased to $298 million from $260 million in the first quarter of 2025. BGE's Adjusted (non-GAAP) operating earnings for the first quarter of 2026 increased to $298 million from $260 million in the first quarter of 2025, primarily due to approved distribution rates associated with updated recovery of investments to serve customers, driving top quartile reliability and avoiding outage costs, partially offset by an increase in 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 first quarter of 2026 GAAP net income decreased to $169 million from $194 million in the first quarter of 2025. PHI’s Adjusted (non-GAAP) operating earnings for the first quarter of 2026 decreased to $180 million from $194 million in the first quarter of 2025, primarily due to unfavorable impacts of the Pepco Maryland multi-year plan reconciliation and an increase in depreciation expense, partially offset by approved distribution and transmission rates driven by updated recovery of investments to serve customers, driving top quartile reliability and avoiding outage costs. 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 First Quarter Highlights
•Dividend: On April 28, 2026, Exelon's Board of Directors declared a regular quarterly dividend of $0.42 per share on Exelon's common stock. The dividend is payable on June 15, 2026, to Exelon shareholders of record as of the close of business on June 4, 2026.
•Rate Case Developments:
◦There were no rate case developments in the first quarter.
•Financing Activities:
◦On February 20, 2026, Exelon issued $775 million of its Senior Notes, 4.95% Series due March 15, 2036. Exelon used the proceeds to repay existing indebtedness and for general corporate purposes.
◦On March 19, 2026, Pepco issued $170 million of its First Mortgage Bonds, consisting of $110 million aggregate principal amount of its First Mortgage Bonds, 5.00% Series due March 19, 2036, and $60 million aggregate principal amount of its First Mortgage Bonds, 5.30% Series due March 19, 2041. Pepco used the proceeds to repay existing indebtedness and for general corporate purposes.

◦On March 19, 2026, DPL issued $75 million of its First Mortgage Bonds, 5.74% Series due March 19, 2056. DPL used the proceeds to repay existing indebtedness and for general corporate purposes.

◦On March 19, 2026, ACE issued $100 million of its First Mortgage Bonds, 4.95% Series due March 19, 2036. ACE used the proceeds to repay existing indebtedness and for general corporate purposes.
3

Adjusted (non-GAAP) Operating Earnings Reconciliation
Adjusted (non-GAAP) operating earnings for the first quarter of 2026 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		ExelonComEdPECOBGEPHI
2026 GAAP net income
$0.90 $919 $310 $278 $298 $169 
Regulatory matters (net of taxes of $4)
0.01 11 — — — 11 
2026 Adjusted (non-GAAP) operating earnings
$0.91 $930 $310 $278 $298 $180 
Adjusted (non-GAAP) operating earnings for the first 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		ExelonComEdPECOBGEPHI
2025 GAAP net income
$0.90 $908 $302 $266 $260 $194 
Change in FERC Audit Liability (net of taxes of $1)
— 2 2 — — — 
Cost management charge (net of taxes of $0)
— (1)— — — — 
Regulatory matters (net of taxes of $7)
0.02 22 21 — — — 
2025 Adjusted (non-GAAP) operating earnings
$0.92 $932 $325 $265 $260 $194 
__________
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 2026 and 2025 ranged from 24.0% to 29.0%.
Webcast Information
Exelon will discuss first quarter 2026 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 https://investors.exeloncorp.com/.
About Exelon
Exelon (Nasdaq: EXC) is a Fortune 200 company and one of the nation’s largest utility companies, serving almost 11 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 more than 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) operating earnings because management believes it represents earnings directly related to the ongoing
4

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 on Form 8-K on May 6, 2026.
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; 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 power generation resources to meet actual or forecasted demand or disruptions at 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 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, ComEd, PECO, BGE, Pepco Holdings LLC (PHI), Pepco, DPL, and ACE (Registrants) in the Registrants' most recent
5

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, Securities and Exchange Commission 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

Table of Contents
Consolidating Statements of Operations
(unaudited)
(in millions)
 ComEdPECOBGEPHIOther (a)Exelon
Three Months Ended March 31, 2026
Operating revenues$1,913 $1,492 $1,828 $2,030 $(21)$7,242 
Operating expenses
Purchased power and fuel451 612 808 905 — 2,776 
Operating and maintenance438 337 327 424 (60)1,466 
Depreciation and amortization404 121 167 246 14 952 
Taxes other than income taxes105 69 104 151 14 443 
Total operating expenses1,398 1,139 1,406 1,726 (32)5,637 
Gain on sale of assets— — — — — — 
Operating income515 353 422 304 11 1,605 
Other income and (deductions)
Interest expense, net(135)(71)(62)(106)(181)(555)
Other, net31 11 17 18 (8)69 
Total other income and (deductions)(104)(60)(45)(88)(189)(486)
Income (loss) before income taxes411 293 377 216 (178)1,119 
Income taxes101 15 79 47 (42)200 
Net income (loss) attributable to common shareholders$310 $278 $298 $169 $(136)$919 
Three Months Ended March 31, 2025
Operating revenues$2,065 $1,333 $1,554 $1,778 $(16)$6,714 
Operating expenses
Purchased power and fuel689 502 609 722 — 2,522 
Operating and maintenance423 327 305 349 (57)1,347 
Depreciation and amortization380 109 164 234 16 903 
Taxes other than income taxes99 60 96 140 10 405 
Total operating expenses1,591 998 1,174 1,445 (31)5,177 
Loss on sale of assets— — — (1)— (1)
Operating income474 335 380 332 15 1,536 
Other income and (deductions)
Interest expense, net(128)(63)(58)(100)(161)(510)
Other, net21 8 9 19 (5)52 
Total other income and (deductions)(107)(55)(49)(81)(166)(458)
Income (loss) before income taxes367 280 331 251 (151)1,078 
Income taxes65 14 71 57 (37)170 
Net income (loss) attributable to common shareholders$302 $266 $260 $194 $(114)$908 
Change in net income (loss) from 2025 to 2026$8 $12 $38 $(25)$(22)$11 
__________
(a)Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities, and other financing and investment activities.
1
Table of Contents
Exelon
Consolidated Balance Sheets
(unaudited)
(in millions)
March 31, 2026December 31, 2025
Assets
Current assets
Cash and cash equivalents$713 $626 
Restricted cash and cash equivalents560 525 
Accounts receivable
Customer accounts receivable3,6363,732
Customer allowance for credit losses(522)(435)
Customer accounts receivable, net3,114 3,297 
Other accounts receivable1,6801,879
Other allowance for credit losses(102)(94)
Other accounts receivable, net1,578 1,785 
Inventories, net
Fossil fuel35 88 
Materials and supplies811 780 
Regulatory assets1,373 1,359 
Prepaid renewable energy credits314 563 
Other504 523 
Total current assets9,002 9,546 
Property, plant, and equipment, net85,564 84,318 
Deferred debits and other assets
Regulatory assets9,322 9,214 
Goodwill6,630 6,630 
Receivable related to Regulatory Agreement Units4,830 4,755 
Investments317 312 
Other1,880 1,795 
Total deferred debits and other assets22,979 22,706 
Total assets$117,545 $116,570 
2
Table of Contents
March 31, 2026December 31, 2025
Liabilities and shareholders’ equity
Current liabilities
Short-term borrowings$665 $612 
Long-term debt due within one year2,326 1,665 
Accounts payable3,119 3,721 
Accrued expenses1,203 1,582 
Payables to affiliates5 5 
Customer deposits565 533 
Regulatory liabilities910 1,128 
Mark-to-market derivative liabilities21 30 
Unamortized energy contract liabilities5 5 
Renewable energy credit obligations222 473 
Other547 577 
Total current liabilities9,588 10,331 
Long-term debt47,859 47,413 
Long-term debt to financing trusts390 390 
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits14,201 13,715 
Regulatory liabilities11,186 11,016 
Pension obligations1,426 1,749 
Non-pension postretirement benefit obligations558 546 
Asset retirement obligations321 321 
Mark-to-market derivative liabilities112 106 
Unamortized energy contract liabilities16 16 
Other2,573 2,169 
Total deferred credits and other liabilities30,393 29,638 
Total liabilities 88,230 87,772 
Commitments and contingencies
Shareholders’ equity
Common stock22,129 22,106 
Treasury stock, at cost(123)(123)
Retained earnings8,065 7,577 
Accumulated other comprehensive loss, net(756)(762)
Total shareholders’ equity29,315 28,798 
Total liabilities and shareholders’ equity$117,545 $116,570 
3
Table of Contents
Exelon
Consolidated Statements of Cash Flows
(unaudited)
(in millions)
Three Months Ended March 31,
 20262025
Cash flows from operating activities
Net income$919 $908 
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion953 905 
Loss on sales of assets— 1 
Deferred income taxes and amortization of investment tax credits345 121 
Net fair value changes related to derivatives— 1 
Other non-cash operating activities222 344 
Changes in assets and liabilities:
Accounts receivable395 (402)
Inventories20 17 
Accounts payable and accrued expenses(632)(397)
Collateral received, net45 44 
Income taxes(144)59 
Regulatory assets and liabilities, net(329)86 
Pension and non-pension postretirement benefit contributions(346)(292)
Other assets and liabilities276 (195)
Net cash flows provided by operating activities1,724 1,200 
Cash flows from investing activities
Capital expenditures(2,358)(1,946)
Other investing activities2 4 
Net cash flows used in investing activities(2,356)(1,942)
Cash flows from financing activities
Changes in short-term borrowings(447)(775)
Proceeds from short-term borrowings with maturities greater than 90 days500 — 
Issuance of long-term debt1,120 2,425 
Issuance of common stock— 173 
Dividends paid on common stock(430)(403)
Proceeds from employee stock plans12 — 
Other financing activities(27)(35)
Net cash flows provided by financing activities728 1,385 
Increase in cash, restricted cash, and cash equivalents96 643 
Cash, restricted cash, and cash equivalents at beginning of period1,201 939 
Cash, restricted cash, and cash equivalents at end of period$1,297 $1,582 




4
Table of Contents
Exelon
Reconciliation of GAAP Net Income (Loss) to Adjusted (non-GAAP) Operating Earnings and Analysis of Earnings
Three Months Ended March 31, 2026 and 2025
(unaudited)
(in millions, except per share data)
Exelon
Earnings 
per Diluted
Share		ComEdPECOBGEPHIOther (a)Exelon
2025 GAAP net income (loss)
$0.90 $302 $266 $260 $194 $(114)$908 
Change in FERC audit liability (net of taxes of $1)
— 2 — — — — 2 
Cost management charge (net of taxes of $0) (1)
— — — — — (1)(1)
Regulatory matters (net of taxes of $7) (2)
0.02 21 — — — 1 22 
2025 Adjusted (non-GAAP) operating earnings (loss)
$0.92 $325 $265 $260 $194 $(112)$932 
Year over year effects on Adjusted (non-GAAP) operating earnings:
Weather$0.01 $— (b)$12 $— (b)$3 (b)$— $15 
Load— — (b)(2)— (b)— (b)— (2)
Distribution and transmission rates (3)0.06 15 (c)5 (c)25 (c)14 (c)— 59 
Other energy delivery (4)0.05 17 (c)13 (c)14 (c)10 (c)— 54 
Operating and maintenance expense (5)(0.06)(32)(8)4 (21)— (57)
Depreciation and amortization expense (6)(0.04)(17)(9)(7)(12)2 (43)
Interest expense and other (7)(0.03)2 2 2 (8)(26)(28)
Total year over year effects on Adjusted (non-GAAP) operating earnings$(0.01)$(15)$13 $38 $(14)$(24)$(2)
2026 GAAP net income (loss)
$0.90 $310 $278 $298 $169 $(136)$919 
Regulatory matters (net of taxes of $4) (2)
0.01 — — — 11 — 11 
2026 Adjusted (non-GAAP) operating earnings (loss)
$0.91 $310 $278 $298 $180 $(136)$930 
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 2026 and 2025 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 transmission formula rates and various 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)Represents the disallowance of certain capitalized costs.
(3)For ComEd, reflects higher distribution and transmission rate base. For BGE, reflects increased distribution revenue due to approved rates. For PHI, reflects increased distribution and transmission revenue due to approved rates.
(4)For ComEd, reflects increased electric distribution, transmission, and energy efficiency revenues due to higher fully recoverable costs, offset by decreased electric distribution revenues due to timing of distribution earnings. For PECO, reflects the absence of electric surcharge credits to customers recognized in 2025. For PHI, reflects higher distribution and transmission revenues due to higher fully recoverable costs.
(5)Represents Operating and maintenance expense. For ComEd, reflects increased storm costs and increased contracting costs. For PHI, reflects increased contracting costs and unfavorable impacts of the Pepco Maryland multi-year plan reconciliation.
(6)Across all utilities, reflects ongoing capital expenditures and regulatory asset amortization.
(7)For ComEd, reflects an increase in AFUDC, partially offset by an increase in interest expense. For PECO, primarily reflects a decrease in income tax expense due to tax repairs, some of which is timing, partially offset by an increase in interest expense. For PHI, primarily reflects an increase in interest expense. For Corporate, primarily reflects an increase in interest expense and an increase in income tax expense due to timing.
5
Table of Contents

ComEd Statistics
Three Months Ended March 31, 2026 and 2025
 Electric Deliveries (in GWhs)Revenue (in millions)
 20262025% ChangeWeather - Normal % Change20262025% Change
Electric Deliveries and Revenues(a)
Residential6,560 6,674 (1.7)%(0.6)%$1,024 $993 3.1 %
Small commercial & industrial7,318 7,359 (0.6)%— %484 600 (19.3)%
Large commercial & industrial6,962 7,003 (0.6)%(1.2)%120 296 (59.5)%
Public authorities & electric railroads244 278 (12.2)%(9.1)%12 17 (29.4)%
Other(b)
— — n/an/a249 236 5.5 %
Total electric revenues(c)
21,084 21,314 (1.1)%(0.7)%1,889 2,142 (11.8)%
Other Revenues(d)
24 (77)(131.2)%
Total electric revenues$1,913 $2,065 (7.4)%
Purchased Power$451 $689 (34.5)%

   % Change
Heating and Cooling Degree-Days20262025NormalFrom 2025From Normal
Heating Degree-Days2,868 2,985 3,053 (3.9)%(6.1)%
Cooling Degree-Days1 — — — %— %

Number of Electric Customers20262025
Residential3,779,277 3,735,234 
Small commercial & industrial398,024 396,639 
Large commercial & industrial1,992 2,473 
Public authorities & electric railroads5,801 5,787 
Total4,185,094 4,140,133 
__________
(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 $11 million and $8 million for the three months ended March 31, 2026 and 2025, respectively.
(d)Includes alternative revenue programs and late payment charges.


6
Table of Contents
PECO Statistics
Three Months Ended March 31, 2026 and 2025
Electric and Natural Gas DeliveriesRevenue (in millions)
20262025% ChangeWeather-
Normal
% Change		20262025% Change
Electric (in GWhs)
Electric Deliveries and Revenues(a)
Residential3,952 3,859 2.4 %0.1 %$725 $631 14.9 %
Small commercial & industrial2,010 1,946 3.3 %1.0 %172 162 6.2 %
Large commercial & industrial3,132 3,425 (8.6)%(10.0)%87 84 3.6 %
Public authorities & electric railroads176 189 (6.9)%(7.0)%8 8 — %
Other(b)
— — n/an/a77 76 1.3 %
Total electric revenues(c)
9,270 9,419 (1.6)%(3.5)%1,069 961 11.2 %
Other Revenues(d)
13 (5)(360.0)%
Total electric revenues1,082 956 13.2 %
Natural Gas (in mmcfs)
Natural Gas Deliveries and Revenues(e)
Residential22,436 21,834 2.8 %(0.9)%286 267 7.1 %
Small commercial & industrial11,351 10,405 9.1 %6.2 %96 86 11.6 %
Large commercial & industrial(10)12 (183.3)%(20.0)%— — n/a
Transportation7,142 7,242 (1.4)%(2.2)%20 13 53.8 %
Other(f)
— — n/an/a7 10 (30.0)%
Total natural gas revenues(g)
40,919 39,493 3.6 %0.7 %409 376 8.8 %
Other Revenues(d)
1 1 — %
Total natural gas revenues410 377 8.8 %
Total electric and natural gas revenues$1,492 $1,333 11.9 %
Purchased Power and Fuel$612 $502 21.9 %

% Change
Heating and Cooling Degree-Days20262025NormalFrom 2025From Normal
Heating Degree-Days2,399 2,351 2,359 2.0 %1.7 %
Cooling Degree-Days10 1 1 900.0 %900.0 %

Number of Electric Customers20262025Number of Natural Gas Customers20262025
Residential1,544,881 1,540,453 Residential511,085 509,773 
Small commercial & industrial154,634 155,131 Small commercial & industrial44,642 44,869 
Large commercial & industrial3,149 3,151 Large commercial & industrial7 7 
Public authorities & electric railroads10,108 10,703 Transportation606 623 
Total1,712,772 1,709,438 Total556,340 555,272 
__________
(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 $4 million and $2 million for the three months ended March 31, 2026 and 2025, 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 less than $1 million and $1 million for the three months ended March 31, 2026 and 2025, respectively.
7
Table of Contents
BGE Statistics
Three Months Ended March 31, 2026 and 2025

Electric and Natural Gas DeliveriesRevenue (in millions)
20262025% ChangeWeather-
Normal
% Change		20262025% Change
Electric (in GWhs)
Electric Deliveries and Revenues(a)
Residential3,788 3,669 3.2 %(3.6)%$818 $648 26.2 %
Small commercial & industrial729 730 (0.1)%(4.2)%130 109 19.3 %
Large commercial & industrial3,212 3,145 2.1 %(1.0)%180 144 25.0 %
Public authorities & electric railroads48 48 — %(2.1)%8 8 — %
Other(b)
— — n/an/a117 113 3.5 %
Total electric revenues(c)
7,777 7,592 2.4 %(2.6)%1,253 1,022 22.6 %
Other Revenues(d)
(8)(10)(20.0)%
Total electric revenues1,245 1,012 23.0 %
Natural Gas (in mmcfs)
Natural Gas Deliveries and Revenues(e)
Residential21,298 20,871 2.0 %(0.7)%401 378 6.1 %
Small commercial & industrial4,790 4,568 4.9 %3.4 %63 63 — %
Large commercial & industrial14,450 14,378 0.5 %(2.0)%93 96 (3.1)%
Other(f)
3,515 3,845 (8.6)%n/a31 24 29.2 %
Total natural gas revenues(g)
44,053 43,662 0.9 %(0.7)%588 561 4.8 %
Other Revenues(d)
(5)(19)(73.7)%
Total natural gas revenues583 542 7.6 %
Total electric and natural gas revenues$1,828 $1,554 17.6 %
Purchased Power and Fuel$808 $609 32.7 %

   % Change
Heating and Cooling Degree-Days20262025NormalFrom 2025From Normal
Heating Degree-Days2,444 2,303 2,332 6.1 %4.8 %
Cooling Degree-Days14 — 3 — %366.7 %

Number of Electric Customers20262025Number of Natural Gas Customers20262025
Residential1,226,941 1,220,769 Residential663,324 661,195 
Small commercial & industrial115,253 115,359 Small commercial & industrial37,735 37,945 
Large commercial & industrial13,372 13,302 Large commercial & industrial6,421 6,380 
Public authorities & electric railroads251 258 
Total1,355,817 1,349,688 Total707,480 705,520 
__________
(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 $2 million and $1 million for the three months ended March 31, 2026 and 2025, 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 March 31, 2026 and 2025, respectively.
8
Table of Contents
Pepco Statistics
Three Months Ended March 31, 2026 and 2025
Electric Deliveries (in GWhs)Revenue (in millions)
20262025% ChangeWeather-
Normal
% Change		20262025% Change
Electric Deliveries and Revenues(a)
Residential2,359 2,336 1.0 %(4.5)%$507 $424 19.6 %
Small commercial & industrial294 300 (2.0)%(4.6)%54 51 5.9 %
Large commercial & industrial3,301 3,338 (1.1)%(2.8)%321 289 11.1 %
Public authorities & electric railroads174 160 8.8 %7.8 %10 8 25.0 %
Other(b)
— — n/an/a93 86 8.1 %
Total electric revenues(c)
6,128 6,134 (0.1)%(3.3)%985 858 14.8 %
Other Revenues(d)
4 1 300.0 %
Total electric revenues$989 $859 15.1 %
Purchased Power$411 $318 29.2 %
   % Change
Heating and Cooling Degree-Days20262025NormalFrom 2025From Normal
Heating Degree-Days2,187 1,987 2,036 10.1 %7.4 %
Cooling Degree-Days16 25 5 (36.0)%220.0 %
Number of Electric Customers20262025
Residential887,650 882,043 
Small commercial & industrial54,225 54,071 
Large commercial & industrial23,163 23,079 
Public authorities & electric railroads209 205 
Total965,247 959,398 

__________
(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 March 31, 2026 and 2025, respectively.
(d)Includes alternative revenue programs and late payment charge revenues.
9
Table of Contents
DPL Statistics
Three Months Ended March 31, 2026 and 2025
Electric and Natural Gas DeliveriesRevenue (in millions)
20262025% ChangeWeather -
Normal
% Change		20262025% Change
Electric (in GWhs)
Electric Deliveries and Revenues(a)
Residential1,709 1,645 3.9 %1.3 %$331 $298 11.1 %
Small commercial & industrial608 586 3.8 %2.4 %69 64 7.8 %
Large commercial & industrial929 939 (1.1)%(1.6)%30 28 7.1 %
Public authorities & electric railroads9 9 — %(1.8)%4 4 — %
Other(b)
— — n/an/a77 71 8.5 %
Total electric revenues(c)
3,255 3,179 2.4 %0.6 %511 465 9.9 %
Other Revenues(d)
(5)(5)— %
Total electric revenues506 460 10.0 %
Natural Gas (in mmcfs)
Natural Gas Deliveries and Revenues(e)
Residential4,678 4,590 1.9 %(2.3)%74 56 32.1 %
Small commercial & industrial2,128 1,970 8.0 %3.0 %29 21 38.1 %
Large commercial & industrial429 428 0.2 %0.2 %4 3 33.3 %
Transportation2,027 2,106 (3.8)%(6.1)%5 5 — %
Other(f)
— — n/an/a4 3 33.3 %
Total natural gas revenues9,262 9,094 1.8 %(1.9)%116 88 31.8 %
Other Revenues(d)
— — n/a
Total natural gas revenues116 88 31.8 %
Total electric and natural gas revenues$622 $548 13.5 %
Purchased Power and Fuel$289 $247 17.0 %

Electric Service Territory% Change
Heating and Cooling Degree-Days20262025NormalFrom 2025From Normal
Heating Degree-Days2,443 2,354 2,323 3.8 %5.2 %
Cooling Degree-Days9 10 2 (10.0)%350.0 %
Natural Gas Service Territory% Change
Heating Degree-Days20262025NormalFrom 2025From Normal
Heating Degree-Days2,531 2,399 2,449 5.5 %3.3 %

Number of Electric Customers20262025Number of Natural Gas Customers20262025
Residential496,074 491,907 Residential132,419 131,716 
Small commercial & industrial65,604 64,999 Small commercial & industrial10,285 10,254 
Large commercial & industrial1,288 1,251 Large commercial & industrial14 15 
Public authorities & electric railroads628 617 Transportation159 161 
Total563,594 558,774 Total142,877 142,146 
__________
(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 March 31, 2026 and 2025, 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.

10
Table of Contents
ACE Statistics
Three Months Ended March 31, 2026 and 2025
Electric Deliveries (in GWhs)Revenue (in millions)
20262025% ChangeWeather -
Normal
% Change		20262025% Change
Electric Deliveries and Revenues(a)
Residential955 902 5.9 %3.7%$258 $196 31.6 %
Small commercial & industrial405 390 3.8 %3.0%68 54 25.9 %
Large commercial & industrial688 713 (3.5)%(3.5)%44 50 (12.0)%
Public authorities & electric railroads12 13 (7.7)%(8.3)%5 5 — %
Other(b)
— — n/an/a64 68 (5.9)%
Total electric revenues(c)
2,060 2,018 2.1 %0.9 %439 373 17.7 %
Other Revenues(d)
(18)— n/a
Total electric revenues$421 $373 12.9 %
Purchased Power $205 $157 30.6 %

    % Change
Heating and Cooling Degree-Days20262025NormalFrom 2025From Normal
Heating Degree-Days2,543 2,408 2,386 5.6 %6.6 %
Cooling Degree-Days3 — 1 — %200.0 %

Number of Electric Customers20262025
Residential510,569 508,354 
Small commercial & industrial63,174 62,861 
Large commercial & industrial2,660 2,824 
Public authorities & electric railroads756 723 
Total577,159 574,762 
__________
(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 for both the three months ended March 31, 2026 and 2025, respectively.
(d)Includes alternative revenue programs.


11