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PPL CORPORATION

(PPL)
  Report
Delayed Nyse  -  04:00 2022-12-06 pm EST
29.30 USD   +0.76%
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PPL : Download the Attachment

08/03/2022 | 08:09am EST

2nd Quarter Investor Update

August 3, 2022

PPL Corporation

Cautionary Statements and Factors That May Affect Future Results

Statements made in this presentation about future operating results or other future events, including the anticipated effects of the recent sale of PPL Corporation's U.K. business, the acquisition of The Narragansett Electric Company (Narragansett) from National Grid, and the impact of each transaction on PPL Corporation, are forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the forward-looking statements. A discussion of some of the factors that could cause actual results or events to vary is contained in the Appendix of this presentation and in PPL's SEC filings.

Management utilizes non-GAAP financial measures such as, "earnings from ongoing operations," "adjusted gross margins" or "margins" in this presentation. For additional information on non-GAAP financial measures and reconciliations to the appropriate GAAP measure, refer to the Appendix of this presentation and PPL's SEC filings.

2

Business Update

2nd Quarter Investor Update

Vince Sorgi

President & Chief Executive Officer

August 3, 2022

PPL Corporation

3

PPL's Investment Thesis

A large-cap,regulated U.S. utility in constructive regulatory jurisdictions

Visible and predictable 6% - 8% annual EPS and dividend growth(1)

Robust $27B regulated investment opportunity through 2030

One of the strongest balance sheets in the U.S. utility sector - no equity issuances

Compelling opportunity to transition existing coal fleet to cleaner energy resources - no unabated coal by 2050(2)

Superior operators with a proven, scalable strategy that enables growth while sustaining affordable rates

9% - 11% total return proposition - de-risked plan does not require base rate cases to achieve (3)

  1. Refers to PPL's projected earnings per share growth from pro forma 2022 to 2025 and targeted dividend per share growth in line with EPS.
  2. PPL is economically transitioning coal-fired generation and has committed to not burn coal by 2050 unless it can be mitigated with carbon dioxide removal technologies.
  3. Total return reflects PPL's targeted EPS growth rate plus dividend yield based on targeted annualized dividend and PPL's closing share price as of July 29, 2022.

4

2nd Quarter Update: Takeaways

  • Strong quarterly results have PPL on track to achieve 2022 financial targets
    • Reported Q2 2022 GAAP results of $0.16 per share; Ongoing earnings of $0.30 per share
  • Reaffirmed 2022 earnings forecast of $1.30 - $1.45 per share
  • Reaffirmed long-term annual earnings and dividend growth rate of 6% - 8%(1)
    • Growth based on mid-point of 2022 pro forma forecast range of $1.40 -$1.55 per share(2)
  • Executing strategy to achieve at least $150M of O&M savings by 2025
    • Asset optimization and centralization of shared service functions underway
  • Issued RFP for replacement generation in Kentucky to advance a clean energy future
    • Seeking proposals to replace energy produced by older, coal-fired units

Note: See Appendix for the reconciliation of reported earnings to earnings from ongoing operations.

  1. Refers to PPL's projected earnings per share growth from pro forma 2022 to 2025 and targeted dividend per share growth in line with EPS.
  2. Based on pro forma 2022 EPS projections, including a full year of earnings contributions from Rhode Island Energy

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

PPL Corporation published this content on 03 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2022 12:08:06 UTC.


ę Publicnow 2022
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Financials (USD)
Sales 2022 6 968 M - -
Net income 2022 763 M - -
Net Debt 2022 13 732 M - -
P/E ratio 2022 28,3x
Yield 2022 3,03%
Capitalization 21 574 M 21 574 M -
EV / Sales 2022 5,07x
EV / Sales 2023 4,85x
Nbr of Employees 5 607
Free-Float 95,5%
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 29,30 $
Average target price 29,04 $
Spread / Average Target -0,90%
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Managers and Directors
Vincent Sorgi President, Chief Executive Officer & Director
Joseph P. Bergstein Chief Financial Officer & Executive Vice President
Craig A. Rogerson Independent Chairman
W. Mark Brooks Chief Information Security Officer & VP
Gregory N. Dudkin Chief Operating Officer & Executive Vice President
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