SOUTHERN Business Summary

Southern Company (SOJD) operates as a premier energy holding company, generating revenue primarily through a regulated utility model that encompasses the generation, transmission, and distribution of electricity and natural gas. Its business is organized into three core segments: Traditional Electric Operating Companies (Alabama Power, Georgia Power, and Mississippi Power), which provide vertically integrated services to approximately 4.5 million retail customers; Southern Power, which develops and manages a diverse wholesale generation portfolio including significant renewable energy assets; and Southern Company Gas, serving roughly 4.4 million customers across multiple states. The company’s monetization strategy relies on stable, rate-regulated returns and long-term power purchase agreements, bolstered by a massive $80 billion capital investment plan through 2030 focused on grid modernization and the expansion of its nuclear and carbon-free capacity. Within the competitive landscape, Southern Company maintains a dominant position in the Southeastern U.S., competing with large-cap peers such as NextEra Energy, Duke Energy, Dominion Energy, and American Electric Power (AEP) by leveraging its unique status as the only U.S. utility to successfully complete new-generation nuclear units (Vogtle 3 and 4) in the modern era. Originally incorporated in its current form in 1945, the company is led by Christopher C. Womack, who serves as Chairman, President, and CEO. Womack is a 35-year veteran of the Southern Company system, having previously served as CEO of Georgia Power and Executive Vice President of External Affairs. The executive team includes David P. Poroch as Executive Vice President and CFO, who oversees the firm’s accounting and financial planning, and Chris Cummiskey as EVP and Chief Commercial Officer. The leadership is supported by a high-pedigree Board of Directors featuring notable figures such as Ernest J. Moniz, the former U.S. Secretary of Energy, and James O. Etheredge, the former CEO of Accenture North America. This deep bench of industry and regulatory expertise is a key driver of the company’s strategic pivot toward a net-zero carbon future while maintaining its 78-year track record of consistent dividend payments.