PUBLIC SERVICE ENTERPRISE GROUP Business Summary

Public Service Enterprise Group Inc. (PEG) is a Newark-based energy holding company that generates revenue primarily through regulated utility operations and carbon-free power generation. Its business is anchored by Public Service Electric and Gas Company (PSE&G), New Jersey’s largest transmission and distribution utility, which provides electricity and natural gas to approximately 2.4 million and 1.9 million customers, respectively. The company also operates PSEG Power, a segment focused on merchant nuclear generation through its ownership of the Salem and Hope Creek nuclear stations, and PSEG Long Island, which manages the electric grid for the Long Island Power Authority. As of early 2026, PEG is executing a multi-year capital plan exceeding $22 billion, targeting grid modernization and data center load expansion. Its primary direct competitors include Duke Energy, FirstEnergy, American Electric Power (AEP), and Dominion Energy; PEG distinguishes itself within this peer group as a dominant regional player in the Mid-Atlantic with one of the most significant carbon-free nuclear fleets in the United States. Originally founded in 1903 as the Public Service Corporation, the company is currently led by Chair, President, and CEO Ralph A. LaRossa, a veteran executive who joined the firm in 1985 and previously served as Chief Operating Officer. The senior leadership team includes Executive Vice President and CFO Daniel J. Cregg, who has held the role since 2015, and Zeeshan Sheikh, who serves as Senior Vice President and Chief Information and Digital Officer (CIDO), overseeing the firm’s technology and cybersecurity strategy. The company’s Board of Directors features high-pedigree industry veterans, notably including Geisha J. Williams, the former CEO of PG&E Corporation who joined the board in March 2026, and Lead Director Susan Tomasky, a former executive at AEP. PEG is a member of the S&P 500, with major institutional backing from investment giants such as Vanguard, BlackRock, and State Street.