Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(b)

On August 16, 2021, LG&E and KU Energy LLC ("LKE"), a wholly owned subsidiary of PPL Corporation ("PPL"), announced the retirement of Paul W. Thompson, President and Chief Executive Officer of LKE and its subsidiaries, Louisville Gas and Electric Company ("LG&E") and Kentucky Utilities Company ("KU" and together with LKE and LG&E, the "Companies") effective January 1, 2022. John R. Crockett III, who presently serves as the General Counsel, Chief Compliance Officer and Corporate Secretary of LKE, LG&E and KU, will succeed Mr. Thompson and will assume the role of President of each of the Companies effective October 1, 2021. Mr. Thompson will remain with the Companies as Executive Vice President during a transition period from October 1, 2021 until January 1, 2022, at which time he will retire.

(e)

In connection with his promotion, Mr. Crockett will execute a Change in Control Agreement, effective as of October 1, 2021, in the form filed as Exhibit 10(ee) to PPL's Annual Report on Form 10-K.

Mr. Thompson will be eligible for benefits under PPL's Executive Severance Plan, filed as Exhibit 10(gg) to PPL's Annual Report on Form 10-K, subject to the terms and conditions of that plan, and will also be eligible for vesting of outstanding restricted stock units and performance units, according to the retirement provisions of the applicable programs.

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