Centerpoint Energy Inc.

Strong Q2 results; guidance reiterated (earnings outlook) - GAAP EPS: $0.37 in Q2 2020. - Non-GAAP EPS: $0.40 in Q2 (excludes divestiture-related items, certain restructuring, and other non-recurring impacts as described on the call). - Full-year 2026 outlook reiterated: Non-GAAP EPS $1.89–$1.91 (midpoint ~8% growth vs. 2025), with the company targeting mid-to-high end of a 7%–9% annual growth range through 2028, then 7%–9% annually through 2035. - Q2 drivers: favorable rate recovery contribution (~$0.10), modest favorable O&M (~$0.02), small weather/usage headwind (~$0.01), and slightly higher interest expense (~$0.01).

Biggest “surprise/good news”: ERCOT “Batch Zero” large-load momentum in Houston - Company reports submission of >17 GW of large-load projects; ~14 GW expected to be eligible for Batch Zero. - Of the 14 GW eligible: - ~10 GW: studies approved → eligible for baseload designation - ~4 GW: studies partially approved → positioned for “studied load”, to be evaluated and included in load allocation expected to conclude in April next year - Impact: the 14 GW eligible set represents >65% increase vs. Houston Electric’s 21 GW system peak. - Timeline expectation: “nearly all” of the baseload + studied load is expected to be energized by end of 2030, extending growth runway 10 years+.

Capital plan increased materially—but framed as financeable without new equity - $1.2B increase to the 10-year capital investment plan (from $65.5B to $66.7B). - + $800M for targeted system upgrades to connect expected Batch Zero eligible load (14 GW). - + $400M for the Downtown Houston revitalization project (final site selections and refined estimates). - Company emphasizes no incremental equity needed and reiterates visibility to at least $10B of additional upside capital opportunities through 2035. - How they’re financing incremental growth (derisking): - Existing funding capacity, supported by clarification in corporate AMT rules earlier in 2020. - Ohio Gas LDC divestiture on track: sale expected Oct 1; CFO also flags potential additional financing flexibility from temporary generation unit marketing (potentially before end of Q1 next year when units return).