Dominion Energy Inc - Units - 2019 Series A

Earnings & near-term outlook (good) - Q3 2026 operating EPS: $1.28/share, including $0.05 from RNG 45Z credits and $0.05 from better-than-normal weather. - Q3 GAAP EPS: $1.30/share. - Full-year EPS outlook upgraded/strengthened: Management now expects results to land in the *top half* of the original guidance range, driven by better-than-budgeted sales, better-than-normal weather, higher-than-expected 45Z credit income, plus “strong” overall execution. - Guidance details: Credit, dividend, and long-term growth guidance were reaffirmed; year-end weather conservatism and potential opportunities to derisk future performance are built into the updated outlook.

Dominion–NextEra (CVOW) merger: regulatory path is moving but still the key risk (mixed; challenges remain) - Company remains confident it meets the SCC’s key legal standard described as “no harm to customers” (and believes it goes beyond that standard with benefits). - Virginia: ~57 conditions were mentioned in staff testimony; a portion are conditions Dominion already proposed voluntarily. Company will file rebuttal testimony Monday; evidentiary hearings start Nov 17; final order expected Jan 11. - South Carolina: Testimony received; company will file rebuttal and expects hearings with final order by Jan 29, 2027 (timeline noted). - North Carolina: Hearings start Feb 23, 2027. - Federal approvals: filed and progressing. - Timing expectation: still expects closing in the second half of 2027. - Negative/surprising angle: Management faced questions about perceived “excessive” governor intervention; they did not concede issues, and emphasized focus on rebuttal and the legal standard.

Coastal Virginia Offshore Wind (CVOW) execution: largely derisked; minor timing setbacks explained (good; surprisingly resilient) - Project completion status: ~85% complete. - Fabrication: all nacelles/towers/blades complete. - Turbine installation: 44 turbines installed (>640 MW), with 45th installation underway. - Installation cadence: ~2 days jack-up to jack-down consistent with assumptions; July/August met expectations. - September/October below expectations due to weather + Charybdis maintenance, but management stated impacts were within last-quarter scheduled contingency; outlook unchanged. - Cost: current budget $11.65B including $123M unused contingency. - Value/returns: LCOE described as below statutory threshold and within filing range; estimated ~$5B fuel savings to customers over first 10 years.