Entergy : 57thEdison Electric Institute Financial Conference

The future is on

57th Edison Electric Institute Financial Conference

Nov. 13 - 15, 2022

Caution regarding forward-looking statements and Regulation G compliance

In this presentation, and from time to time, Entergy Corporation makes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other things, statements regarding Entergy's 2022 earnings guidance; current financial and operational outlooks and capital plan; industrial load growth outlooks; statements regarding its climate transition and resilience plans, goals, beliefs and expectations; and other statements of Entergy's plans, beliefs, or expectations included in this presentation. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this presentation. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Forward-looking statements are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this presentation and in Entergy's most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q, and Entergy's other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with (1) rate proceedings, formula rate plans, and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent or on the timeline anticipated by the utilities and (2) implementation of the ratemaking effects of changes in law; (c) uncertainties associated with (1) realizing the benefits of its resilience plan, including impacts of the frequency and intensity of future storms and storm paths, as well as the pace of project completion and (2) efforts to remediate the effects of major storms and recover related restoration costs; (d) risks associated with operating nuclear facilities, including plant relicensing, operating, and regulatory costs and risks; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning Entergy's nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with executing on business strategies, including strategic transactions that Entergy or its subsidiaries may undertake and the risk that any such transaction may not be completed as and when expected and the risk that the anticipated benefits of the transaction may not be realized; (h) impacts from a terrorist attack, cybersecurity threats, data security breaches, or other attempts to disrupt Entergy's business or operations, and/or other catastrophic events; (i) the direct and indirect impacts of the COVID-19 pandemic on Entergy and its customers; and (j) effects on Entergy or its customer of (1) changes in federal, state, or local laws and regulations and other governmental actions or policies, including changes in monetary, fiscal, tax, environmental, or energy policies; (2) the effects of changes in commodity markets, capital markets, or economic conditions; and (3) the effects of technological change, including the costs, pace of development, and commercialization of new and emerging technologies.

This presentation includes the non-GAAP financial measure of adjusted EPS when describing Entergy's results of operations and financial performance. We have prepared reconciliations of this financial measure to the most directly comparable GAAP measure, which can be found in the appendix of this presentation.

1

The future is on

Unique growth	Growing
opportunity	clean energy
Strong industrial sales	To support customers'
opportunity driven by	goals to reduce
Gulf region advantages	Scope 2 and Scope 1
and our customers'	emissions
decarbonization goals

Accelerated	Affordability a
resilience	priority
To reduce financial and	Actively pursuing
business risks from	actions to manage bills
storms

2

Industrial customer base is healthy and growing

Clear line of sight to growth with a robust pipeline of projects

Cumulative industrial sales growth vs 2021, TWh

~6%

Industrial growth CAGR

25E vs 21

				13
	3		10
		4
	YTD
	3Q22
	22E	23E	24E	25E

Estimates at	1	3	10	13
analyst day

3

Industrial customer metrics remain supportive

Refining margins, Light Louisiana Sweet crude; 321 crack spread

60
45
30
15
0
Jan-16	Jan-17	Jan-18	Jan-19	Jan-20	Jan-21	Jan-22

Steel; capacity utilization

100%

75%

50%

25%

0%

Jan-16Jan-17Jan-18Jan-19Jan-20Jan-21Jan-22

Chlor-alkali, polyvinyl chloride margins; $ per metric ton

3,000
2,000
1,000
0
Jan-16	Jan-17	Jan-18	Jan-19	Jan-20	Jan-21	Jan-22

Petrochemicals, polyethylene margins; $ per metric ton

2,000

1,500

1,000

500

0

Jan-16Jan-17Jan-18Jan-19Jan-20Jan-21Jan-22

4	Sources: U.S. Energy Information Administration, American Iron and Steel Institute, Bloomberg, and internal analysis