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NEWS RELEASE

FOR IMMEDIATE RELEASE

April 29, 2026

Entergy reports first quarter 2026 financial results

Company affirms 2026 guidance, raises longer-term outlooks

NEW ORLEANS – Entergy Corporation (NYSE: ETR) reported first quarter 2026 earnings per share of 83 cents on an as-reported basis and 86 cents on an adjusted (non-GAAP) basis.

“It’s shaping up to be another exciting year,” said Drew Marsh, Entergy Chair and Chief Executive Officer. “We announced another major hyperscale agreement in Louisiana that includes an additional estimated $2 billion of savings for retail customers consistent with our Fair Share Plus pledge. The fundamentals of our company have never been stronger, and we continue to work diligently to deliver real value to our stakeholders.”

Business highlights included the following:

•Entergy updated its four-year capital plan and adjusted EPS outlooks.

•The PUCT approved an update to E-TX’s TCRF rate.

•E-TX submitted a GCRR filing to place OCAPS investment in rates.

•The APSC approved E-AR’s 600 MW Arkansas Cypress Solar with 350 MW of battery storage.

•E-LA submitted an application for approval under the LPSC’s Lightning Initiative for investments proposed in connection with a new 20-year electric service agreement with Evest LLC, a subsidiary of Meta Platforms, Inc.

•E-MS filed its annual formula rate plan.

•E-AR submitted its base rate case and Generating Arkansas Jobs Act rider filings.

•The state of Mississippi passed legislation to enable securitization to finance winter storm Fern restoration costs.

•Entergy marked 25 years of giving through the Environmental Initiative Fund investing nearly $45 million in environmentally beneficial projects and programs since inception.

Table of contents			Page
News release     Table of appendices and financial statements     A: Consolidated results and adjustments     B: Earnings variance analysis     C: Utility operating and financial measures     D: Consolidated financial measures     E: Definitions and abbreviations and acronyms     F: Other GAAP to non-GAAP reconciliations     Financial statements			1 6 7 10 12 13 14 16 18

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Entergy reports first quarter 2026 financial results    

April 29, 2026

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Consolidated earnings (GAAP and non-GAAP measures)
First quarter 2026 vs. 2025 (See Appendix A for reconciliation of GAAP to non-GAAP measures and description of adjustments)
			First quarter
			2026			2025			Change
(After-tax, $ in millions)
As-reported earnings			385			361			24
Less adjustments			(14)			-			(14)
Adjusted earnings (non-GAAP)			399			361			38
Estimated weather impact			(10)			22			(32)
(After-tax, per share in $)
As-reported earnings			0.83			0.82			0.01
Less adjustments			(0.03)			-			(0.03)
Adjusted earnings (non-GAAP)			0.86			0.82			0.04
Estimated weather impact			(0.02)			0.05			(0.07)

Calculations may differ due to rounding

Consolidated results

For first quarter 2026, the company reported earnings of $385 million, or 83 cents per share, on an as-reported basis, and earnings of $399 million, or 86 cents per share on an adjusted basis. This compared to first quarter 2025 earnings of $361 million, or 82 cents per share, on an as-reported and an adjusted basis.

Summary discussions of results by business follow. Additional details, including information on operating cash flow by business, are provided in Appendix A. Appendix B provides a more detailed analysis of earnings per share variances by business.

Business results

Utility

For first quarter 2026, the Utility business reported earnings attributable to Entergy Corporation of $540 million, or $1.17 per share, on an as-reported and an adjusted basis. This compared to first quarter 2025 earnings of $490 million, or $1.11 per share, on an as-reported and an adjusted basis.

The primary drivers for the quarter’s earnings increase included the net effect of regulatory actions across the operating companies and return on construction work in progress for certain utility plant investments.

These drivers were partially offset by higher interest expense as well as higher depreciation and amortization.

On a per share basis, first quarter 2026 results reflected higher diluted average number of common shares outstanding primarily due to the settlement of equity forwards in 2025 and 2026 as well as the dilutive effect of an increase in the stock price on unsettled equity forwards.

Appendix C contains additional details on Utility operating and financial measures.

Parent & Other

For first quarter 2026, Parent & Other reported a loss attributable to Entergy Corporation of $(155 million), or (34) cents per share, on an as-reported basis, and a loss of $(141 million), or (31) cents per

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Entergy reports first quarter 2026 financial results    

April 29, 2026

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share on an adjusted basis. This compared to a first quarter 2025 loss of $(129 million), or (29) cents per share, on an as-reported and an adjusted basis.

First quarter 2026 results included an $(18 million) ($(14 million) after tax) non-cash impairment charge related to the expected sale of a non-utility business interest in the Independence power plant (considered an adjustment and excluded from adjusted earnings). Higher interest expense was also a driver for the quarter.

On a per share basis, first quarter 2026 results reflected higher diluted average number of common shares outstanding (see details in Utility section).

Earnings per share guidance

Entergy affirmed its 2026 adjusted earnings per share guidance range of $4.25 to $4.45. See the earnings call presentation for additional details.

The company has provided 2026 earnings guidance with regard to the non-GAAP measure of adjusted earnings per share. This measure excludes from the corresponding GAAP financial measure the effect of adjustments as described in the “Non-GAAP financial measures” section. The company has not provided a reconciliation of such non-GAAP guidance to guidance presented on a GAAP basis because it cannot predict and quantify with a reasonable degree of confidence all of the adjustments that may occur during the period. Potential adjustments include, among other things, certain significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses.

Earnings teleconference

A teleconference will be held at 10:00 a.m. Central Time on Wednesday, April 29, 2026, to discuss Entergy’s quarterly earnings announcement and the company’s financial performance. The teleconference may be accessed by visiting Entergy’s website at investors.entergy.com/investors/events-and-presentations or by dialing 888-440-4149, conference ID 9024832, no more than 15 minutes prior to the start of the call. The earnings call presentation is also being posted to Entergy’s website concurrent with this news release. A replay of the teleconference will be available on Entergy’s website at investors.entergy.com/investors/events-and-presentations and by telephone. The telephone replay will be available through May 6, 2026, by dialing 800-770-2030, conference ID 9024832.

Entergy (NYSE: ETR) generates, transmits and distributes electricity to power life for more than 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We’re focused on keeping costs for our customers as low as possible while providing reliable energy that our communities count on. We’re also investing in growth for the future with a more resilient, cleaner energy system that includes modern natural gas, nuclear and renewable energy generation. As a nationally recognized leader in sustainability and corporate citizenship, we deliver more than $100 million in economic benefits each year to the communities we serve through philanthropy, volunteerism and advocacy. Entergy is a Fortune 500 company headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. Learn more at Entergy.com and connect with @Entergy on social media.

Entergy Corporation’s common stock is listed on the New York Stock Exchange and NYSE Texas under the symbol “ETR”.

Details regarding Entergy’s results of operations, regulatory proceedings, and other matters are available in this earnings release, a copy of which will be filed with the SEC, and the earnings call presentation. Both documents are available on Entergy’s Investor Relations website at investors.entergy.com/investors/events-and-presentations.

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Entergy reports first quarter 2026 financial results    

April 29, 2026

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Entergy maintains a web page as part of its Investor Relations website entitled Regulatory and other information, which provides investors with key updates on certain regulatory proceedings and important milestones on the execution of its strategy. While some of this information may be considered material information, investors should not rely exclusively on this page for all relevant company information.

For definitions of certain operating measures, as well as GAAP and non-GAAP financial measures and abbreviations and acronyms used in the earnings release materials, see Appendix E.

Non-GAAP financial measures

This news release contains non-GAAP financial measures, which are generally numerical measures of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Entergy has provided quantitative reconciliations within this news release of the non-GAAP financial measures to the most directly comparable GAAP financial measures.

Entergy reports earnings using the non-GAAP measure of adjusted earnings, which excludes the effect of certain “adjustments”. Adjustments are unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business of Entergy, such as significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses. In addition to reporting GAAP earnings on a per share basis, Entergy reports its adjusted earnings on a per share basis. These per share measures represent the applicable earnings amount divided by the diluted average number of common shares outstanding for the period.

Management uses the non-GAAP financial measures of adjusted earnings and adjusted earnings per share for, among other things, financial planning and analysis; reporting financial results to the board of directors, employees, owners, and analysts; and internal evaluation of financial performance. Entergy believes that these non-GAAP financial measures provide useful information to investors in evaluating the ongoing results of Entergy’s business, comparing period to period results, and comparing Entergy’s financial performance to the financial performance of other companies in the utility sector.

Other non-GAAP measures, including adjusted ROE, adjusted ROE excluding affiliate preferred, FFO to adjusted debt, gross liquidity, net liquidity, adjusted Parent debt to total adjusted debt, adjusted debt to adjusted capitalization, and adjusted net debt to adjusted net capitalization are measures Entergy uses internally for management and board of directors discussions and to gauge the overall strength of its business. Entergy believes the above data provides useful information to investors in evaluating Entergy’s ongoing financial results and flexibility and assists investors in comparing Entergy’s credit and liquidity to the credit and liquidity of others in the utility sector. These metrics are defined in Appendix E.

These non-GAAP financial measures reflect an additional way of viewing aspects of Entergy’s operations that, when viewed with Entergy’s GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting Entergy’s business. These non-GAAP financial measures should not be used to the exclusion of GAAP financial measures. Investors are strongly encouraged to review Entergy’s consolidated financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Although certain of these measures are intended to assist investors in comparing Entergy’s performance to other companies in the utility sector, non-GAAP financial measures are not standardized; therefore, it might not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

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Entergy reports first quarter 2026 financial results    

April 29, 2026

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Cautionary note regarding forward-looking statements

In this news release, and from time to time, Entergy Corporation makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other things, statements regarding Entergy’s 2026 adjusted earnings per share guidance; financial and operational outlooks; industrial load growth outlooks; statements regarding its resilience plans, goals, beliefs, or expectations; and other statements of Entergy’s plans, goals, beliefs, or expectations included in this news release. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Forward-looking statements are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy’s most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q, and Entergy’s other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with (1) rate proceedings, formula rate plans, and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent or on the timeline anticipated by the utilities and (2) implementation of the ratemaking effects of changes in law; (c) uncertainties associated with (1) realizing the benefits of its resilience plan, including impacts of the frequency and intensity of future storms and storm paths, as well as the pace of project completion and (2) efforts to remediate the effects of major storms and recover related restoration costs; (d) risks associated with operating nuclear facilities, including plant relicensing, operating, and regulatory costs and risks; (e) changes in decommissioning trust values or earnings or in the timing or cost of decommissioning Entergy’s nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with executing on business strategies, including (1) strategic transactions that Entergy or its subsidiaries may undertake and the risk that any such transaction may not be completed as and when expected and the risk that the anticipated benefits of the transaction may not be realized, and (2) Entergy’s ability to meet the rapidly growing demand for electricity, including from hyperscale data centers and other large customers, and to manage the impacts of such growth on customers and Entergy’s business, or the risk that contracted or expected load growth does not materialize or is not sustained; (h) direct and indirect impacts to Entergy or its customers from pandemics, terrorist attacks, geopolitical conflicts, cybersecurity threats, data security breaches, or other attempts to disrupt Entergy’s business or operations, and/or other catastrophic events; and (i) effects on Entergy or its customers of (1) changes in federal, state, or local laws and regulations and other governmental actions or policies, including changes in monetary, fiscal, tax, environmental, international trade, or energy policies; (2) changes in commodity markets, capital markets, or economic conditions; and (3) technological change, including the costs, pace of development, and commercialization of new and emerging technologies.

-30-

Investor inquiries: Liz Hunter 504-576-3294 ehunte1@entergy.com			Media inquiries: Cristina del Canto 504-576-4238 mdelcan@entergy.com

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First quarter 2026 earnings release appendices and financial statements

Appendices

A: Consolidated results and adjustments

B: Earnings variance analysis

C: Utility operating and financial measures

D: Consolidated financial measures

E: Definitions and abbreviations and acronyms

F: Other GAAP to non-GAAP reconciliations

Financial statements

Consolidating balance sheets

Consolidating income statements

Consolidated cash flow statements

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A: Consolidated results and adjustments

Appendix A-1 provides a comparative summary of consolidated earnings, including a reconciliation of as-reported earnings (GAAP) to adjusted earnings (non-GAAP).

Appendix A-1: Consolidated earnings - reconciliation of GAAP to non-GAAP measures First quarter 2026 vs. 2025 (See Appendix A-2 and Appendix A-3 for details on adjustments)
			First quarter
			2026			2025			Change
(After-tax, $ in millions)
As-reported earnings (loss)
Utility			540			490			50
Parent & Other			(155)			(129)			(26)
Consolidated			385			361			24
Less adjustments
Utility			-			-			-
Parent & Other			(14)			-			(14)
Consolidated			(14)			-			(14)
Adjusted earnings (loss) (non-GAAP)
Utility			540			490			50
Parent & Other			(141)			(129)			(12)
Consolidated			399			361			38
Estimated weather impact			(10)			22			(32)
Diluted average number of common shares outstanding (in millions)			463			441			22
(After-tax, per share in $) (a)
As-reported earnings (loss)
Utility			1.17			1.11			0.06
Parent & Other			(0.34)			(0.29)			(0.04)
Consolidated			0.83			0.82			0.01
Less adjustments
Utility			-			-			-
Parent & Other			(0.03)			-			(0.03)
Consolidated			(0.03)			-			(0.03)
Adjusted earnings (loss) (non-GAAP)
Utility			1.17			1.11			0.06
Parent & Other			(0.31)			(0.29)			(0.01)
Consolidated			0.86			0.82			0.04
Estimated weather impact			(0.02)			0.05			(0.07)

Calculations may differ due to rounding

(a)Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period.

See Appendix B for detailed earnings variance analysis.

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Appendix A-2 and Appendix A-3 detail adjustments by business. Adjustments are included in as-reported earnings consistent with GAAP but are excluded from adjusted earnings. As a result, adjusted earnings is considered a non-GAAP measure.

Appendix A-2: Adjustments by driver (shown as positive/(negative) impact on earnings or EPS)
First quarter 2026 vs. 2025
			First quarter
			2026			2025			Change
(Pre-tax except for income tax effect and totals; $ in millions)
Parent & Other
1Q26 impairment related to the expected sale of a non-utility business interest in Independence power plant			(18)			-			(18)
Income tax effect on Parent & Other adjustment above			4			-			4
Total Parent & Other			(14)			-			(14)
Total adjustments			(14)			-			(14)
(After-tax, per share in $) (b)
Parent & Other
1Q26 impairment related to the expected sale of a non-utility business interest in Independence power plant			(0.03)			-			(0.03)
Total Parent & Other			(0.03)			-			(0.03)
Total adjustments			(0.03)			-			(0.03)

Calculations may differ due to rounding

(b)Per share amounts are calculated by multiplying the corresponding earnings (loss) by the estimated income tax rate that is expected to apply and dividing by the diluted average number of common shares outstanding for the period.

Appendix A-3: Adjustments by income statement line item (shown as positive/ (negative) impact on earnings)
First quarter 2026 vs. 2025
(Pre-tax except for income taxes and totals; $ in millions)
			First quarter
			2026			2025			Change
Parent & Other
Asset write-offs, impairments, and related charges			(18)			-			(18)
Income taxes			4			-			4
Total Parent & Other			(14)			-			(14)
Total adjustments			(14)			-			(14)

Calculations may differ due to rounding

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Appendix A-4 provides a comparative summary of OCF by business.

Appendix A-4: Consolidated operating cash flow
First quarter 2026 vs. 2025
($ in millions)
			First quarter
			2026			2025			Change
Utility			870			565			305
Parent & Other			(41)			(29)			(12)
Consolidated			829			536			293

Calculations may differ due to rounding

First quarter 2026 OCF increased primarily due to higher receipts of advance payments related to customer agreements, higher collections from Utility customers, and a decrease in interest paid. These increases were partially offset by higher fuel and purchased power payments and the timing of payments to vendors.

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B: Earnings variance analysis

Appendix B provides details of current quarter 2026 versus 2025 as-reported and adjusted earnings per share variances.

Appendix B: As-reported and adjusted earnings per share variance analysis (c), (d)
First quarter 2026 vs. 2025
(After-tax, per share in $)
			Utility									Parent & Other									Consolidated
			As- reported			Adjusted						As- reported			Adjusted						As- reported			Adjusted
2025 earnings (loss)			1.11			1.11						(0.29)			(0.29)						0.82			0.82
Operating revenue less: fuel, fuel-related expenses and gas purchased for resale; purchased power; and other regulatory charges (credits) – net			(0.11)			(0.11)			(e)			-			-						(0.12)			(0.12)
Nuclear refueling outage expenses			0.02			0.02						-			-						0.02			0.02
Other O&M			-			-						-			-						-			-
Asset write-offs, impairments, and related charges			-			-						(0.03)			-			(f)			(0.03)			-
Decommissioning			-			-						-			-						-			-
Taxes other than income taxes			(0.01)			(0.01)						-			-						(0.01)			(0.01)
Depreciation and amortization			(0.05)			(0.05)			(g)			-			-						(0.05)			(0.05)
Other income (deductions)			0.33			0.33			(h)			-			-						0.33			0.33
Interest expense			(0.06)			(0.06)			(i)			(0.03)			(0.03)			(j)			(0.09)			(0.09)
Income taxes – other			0.01			0.01						-			-						0.02			0.02
Preferred dividend requirements and noncontrolling interests			(0.01)			(0.01)						-			-						(0.01)			(0.01)
Share effect			(0.06)			(0.06)						0.02			0.02						(0.04)			(0.04)			(k)
2026 earnings (loss)			1.17			1.17						(0.34)			(0.31)						0.83			0.86

h

Calculations may differ due to rounding

(c)Utility operating revenue and Utility income taxes – other variances exclude the following for the return/collection of excess/deficient unprotected ADIT (net effect was neutral to earnings) ($ in millions):

			1Q26			1Q25
Utility operating revenue			(15)			(2)
Utility income taxes – other			15			2

(d)EPS effects of individual income statement line item variances are calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply and dividing by diluted average number of common shares outstanding for the prior period. Income taxes – other represents income tax differences other than the income tax effect of individual line item variances. Share effect captures the per share impact from the change in diluted average number of common shares outstanding.

Utility as-reported operating revenue less fuel, fuel-related expenses and gas purchased for resale; purchased power; and other regulatory charges (credits) – net variance analysis 2026 vs. 2025 ($ EPS)
			1Q
Retail electric price			0.17
Return on CWIP for certain utility plant investments			0.05
Reg. provisions for decommissioning items			(0.28)
Sale of natural gas LDCs			(0.07)
Other			0.02
Total			(0.11)

(e)The first quarter earnings decrease was primarily due to two items: changes in regulatory provisions for decommissioning items (based on regulatory treatment, decommissioning-related variances are offset in other line items and are largely earnings neutral) and the absence of revenues from the natural gas LDC businesses that were sold in July 2025. The decreases were partially offset by regulatory actions including E-AR’s FRP, E-LA’s FRP (including riders), E-LA’s RPCR, E-MS’s FRP interim facilities rate adjustment, E-MS’s grid mod rider, and E-TX’s DCRF. Higher revenue related to the amortization of customer advances designed to provide a return on CWIP for certain utility plant investments, which is recognized as the related costs are incurred, was also a driver.

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(f)The first quarter as-reported earnings decrease from higher Parent & Other asset write-offs, impairments, and related charges was due to a first quarter 2026 $(18 million) ($(14 million) after tax) non-cash impairment related to the expected sale of a non-utility business interest in the Independence power plant (considered an adjustment and excluded from adjusted earnings).

(g)The first quarter earnings decrease from higher Utility depreciation and amortization was primarily due to higher plant in service, an increase in FERC jurisdictional depreciation rates at E-AR and E-LA effective Jan. 2026, and an increase in E-LA’s nuclear depreciation rates effective Sept. 2025.

(h)The first quarter earnings increase from higher Utility other income (deductions) was primarily due to changes in nuclear decommissioning trust returns, including portfolio rebalancing in first quarter 2026 (based on regulatory treatment, decommissioning-related variances are offset in other line items and are largely earnings neutral).

(i)The first quarter earnings decrease from higher Utility interest expense was primarily due to higher debt balances and higher interest rates.

(j)The first quarter earnings decrease from higher Parent & Other interest expense was primarily due to the issuance of $1.3 billion of junior subordinated debentures in Nov. 2025.

(k)The first quarter earnings per share impact from share effect was from higher diluted average number of common shares outstanding primarily due to the settlement of equity forwards in May 2025, Oct. 2025, and Feb. 2026 and the dilutive effect of an increase in the stock price on unsettled equity forwards.

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C: Utility operating and financial measures

Appendix C provides a comparison of Utility operating and financial measures.

Appendix C: Utility operating and financial measures
First quarter 2026 vs. 2025
			First quarter
			2026			2025			% Change			% Weather adjusted (l)
GWh sold
Residential			8,057			8,784			(8.3)			(3.1)
Commercial			6,230			6,243			(0.2)			(0.5)
Governmental			555			560			(0.9)			(1.3)
Industrial			15,895			13,833			14.9			14.9
Total retail			30,737			29,420			4.5			6.0
Wholesale			2,789			1,634			70.7
Total			33,526			31,054			8.0
Number of electric retail customers
Residential			2,626,812			2,606,590			0.8
Commercial			372,312			370,544			0.5
Governmental			19,016			17,982			5.8
Industrial			42,318			42,716			(0.9)
Total			3,060,457			3,037,832			0.7
Other O&M and nuclear refueling outage exp. per MWh			$20.48			$22.40			(8.6)

Calculations may differ due to rounding

(l)The effects of weather were estimated using heating degree days and cooling degree days for the period from various locations and comparing to “normal” weather based on 20-year historical data. The models used to estimate weather are updated periodically and are subject to change.

For the quarter, weather-adjusted retail sales increased 6 percent. The increase was due to a 14.9 percent increase in industrial volume driven by higher sales to data center, primary metals, and transportation customers. The increase was partially offset by residential and commercial sales declines. Residential sales were (3.1) percent lower and commercial sales decreased (0.5) percent.

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D: Consolidated financial measures

Appendix D provides comparative financial measures. Financial measures in this table include those calculated and presented in accordance with GAAP, as well as those that are considered non-GAAP financial measures.

Appendix D: GAAP and non-GAAP financial measures
2026 vs. 2025 (See Appendix F for reconciliation of GAAP to non-GAAP financial measures)
For 12 months ending March 31			2026			2025			Change
GAAP measure
As-reported ROE			11.0%			9.0%			2.0%
Non-GAAP financial measure
Adjusted ROE			11.0%			11.5%			(0.5)%
As of March 31 ($ in millions, except where noted)			2026			2025			Change
GAAP measures
Cash and cash equivalents			3,571			1,513			2,058
Available revolver capacity			4,346			4,345			1
Commercial paper			1,367			1,330			37
Total debt			34,177			31,041			3,136
Junior subordinated debentures			2,500			1,200			1,300
Securitization debt			221			240			(19)
Debt to total capital			66%			67%			(1)%
Storm escrows			312			300			12
Non-GAAP financial measures ($ in millions, except where noted)
FFO to adjusted debt			15.7%			14.5%			1.2%
Adjusted debt to adjusted capitalization			63%			65%			(2)%
Adjusted net debt to adjusted net capitalization			61%			64%			(3)%
Gross liquidity			7,917			5,858			2,059
Net liquidity			8,451			7,904			547
Adjusted Parent debt to total adjusted debt			18%			20%			(2)%
Build-to-suit lease arrangement (m)			1,450			-			1,450

Calculations may differ due to rounding

(m) Maximum counterparty commitment; see Form 10-K for the fiscal year ended Dec. 2025 for additional details.

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E: Definitions and abbreviations and acronyms

Appendix E-1 provides definitions of certain operating measures, as well as GAAP and non-GAAP financial measures.

Appendix E-1: Definitions
Utility operating and financial measures
GWh sold			Total number of GWh sold to retail and wholesale customers
Number of electric retail customers			Average number of electric customers over the period
Other O&M and refueling outage expense per MWh			Other operation and maintenance expense plus nuclear refueling outage expense per MWh of total sales
Financial measures – GAAP
As-reported ROE			Last twelve months net income attributable to Entergy Corp. divided by average common equity
Available revolver capacity			Amount of undrawn capacity remaining on corporate and subsidiary revolvers
Total debt to total capitalization			Total debt divided by total capitalization
Securitization debt			Debt on the balance sheet associated with securitization bonds that is secured by certain future customer collections
Total capitalization			Total debt plus subsidiaries’ preferred stock without sinking fund and total equity
Total debt			Sum of short-term and long-term debt, notes payable, and commercial paper
Financial measures – non-GAAP
Adjusted capitalization			Total capitalization excluding securitization debt
Adjusted debt			Debt excluding securitization debt and 50% of junior subordinated debentures
Adjusted debt to adjusted capitalization			Adjusted debt divided by adjusted capitalization
Adjusted earnings (loss)			As-reported earnings (loss) minus adjustments
Adjusted EPS			Adjusted earnings (loss) divided by the diluted average number of common shares outstanding
Adjusted net capitalization			Adjusted capitalization minus cash and cash equivalents
Adjusted net debt			Adjusted debt minus cash and cash equivalents
Adjusted net debt to adjusted net capitalization			Adjusted net debt divided by adjusted net capitalization
Adjusted Parent debt			Entergy Corp. debt, including amounts drawn on credit revolver and commercial paper facilities plus unamortized debt issuance costs and discounts minus 50% of junior subordinated debentures
Adjusted Parent debt to total adjusted debt			Adjusted Parent debt divided by consolidated adjusted debt
Adjusted ROE			Last twelve months adjusted earnings divided by average common equity
Adjusted ROE excluding affiliate preferred			Last twelve months adjusted earnings, excluding dividend income from affiliate preferred as well as the after-tax cost of debt financing for preferred investment, divided by average common equity adjusted to exclude the estimated equity associated with the affiliate preferred investment
Adjustments			Unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business of Entergy, such as significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses
FFO			OCF minus preferred dividend requirements of subsidiaries, working capital items in OCF (receivables, fuel inventory, accounts payable, taxes accrued, interest accrued, deferred fuel costs, customer advances – current, and other working capital accounts), 50% of interest on junior subordinated debentures, and securitization regulatory charges
FFO to adjusted debt			Last twelve months FFO divided by end of period adjusted debt
Gross liquidity			Sum of cash and cash equivalents plus available revolver capacity
Net liquidity			Sum of cash and cash equivalents, available revolver capacity, escrow accounts available for certain storm expenses, and equity sold forward but not yet settled minus commercial paper

Page 14

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Appendix E-2 explains abbreviations and acronyms used in the quarterly earnings materials.

Appendix E-2: Abbreviations and acronyms
ACM ADIT AFUDC APSC BESS CAGR CCCT CCNO CFO COD CT CWIP DCRF DRM E-AR E-LA E-MS E-NO E-TX EPS ETR EWC FFO FRP GAAP GCRR GGO Grand Gulf or GGNS Independence			Additional Capacity Mechanism Accumulated deferred income taxes Allowance for funds used during construction Arkansas Public Service Commission Battery and energy storage system Compound annual growth rate Combined cycle combustion turbine Council of the City of New Orleans Cash from operations Commercial operation date Combustion turbine Construction work in progress Distribution Cost Recovery Factor Distribution Recovery Mechanism Entergy Arkansas, LLC Entergy Louisiana, LLC Entergy Mississippi, LLC Entergy New Orleans, LLC Entergy Texas, Inc. Earnings per share Entergy Corporation Entergy Wholesale Commodities Funds from operations Formula rate plan U.S. generally accepted accounting principles Generation Cost Recovery Rider Geaux Green Option Unit 1 of Grand Gulf Nuclear Station (nuclear), 90% owned or leased by SERI Independence Steam Electric Station			LDC LPSC LTM MCRM MISO Moody’s MPSC NDT NYSE O&M OCAPS OCF OpCo Other O&M P&O PMR PPA PUCT RECs RSHCR ROE RPCR S&P SEC SERI TAM TCRF TRM WACC			Local distribution company Louisiana Public Service Commission Last twelve months MISO Cost Recovery Mechanism Midcontinent Independent System Operator, Inc. Moody’s Ratings Mississippi Public Service Commission Nuclear decommissioning trust New York Stock Exchange Operation and maintenance Orange County Advanced Power Station (CCCT) Net cash flow provided by operating activities Utility operating company Other operation and maintenance expense Parent & Other Performance Management Rider Power purchase agreement or purchased power agreement Public Utility Commission of Texas Renewable energy certificates Resilience and Storm Hardening Cost Recovery Return on equity Resilience Plan Cost Recovery Rider Standard & Poor’s U.S. Securities and Exchange Commission System Energy Resources, Inc. Tax Adjustment Mechanism Transmission Cost Recovery Factor Transmission Recovery Mechanism Weighted average cost of capital

Page 15

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F: Other GAAP to non-GAAP reconciliations

Appendix F-1, Appendix F-2, and Appendix F-3 provide reconciliations of various non-GAAP financial measures disclosed in this news release to their most comparable GAAP measure.

Appendix F-1: Reconciliation of GAAP to non-GAAP financial measures – ROE
(LTM $ in millions except where noted)						First quarter
						2026			2025
As-reported net income attributable to Entergy Corporation			(A)			1,782			1,341
Adjustments			(B)			(14)			(367)
Adjusted earnings (non-GAAP)			(C)=(A-B)			1,796			1,708
Average common equity (average of beginning and ending balances)			(D)			16,266			14,822
As-reported ROE			(A/D)			11.0%			9.0%
Adjusted ROE (non-GAAP)			(C/D)			11.0%			11.5%

Calculations may differ due to rounding

Appendix F-2: Reconciliation of GAAP to non-GAAP financial measures – FFO to adjusted debt
($ in millions except where noted)						First quarter
						2026			2025
Total debt			(A)			34,177			31,041
Securitization debt			(B)			221			240
50% junior subordinated debentures			(C)			1,250			600
Adjusted debt (non-GAAP)			(D)=(A-B-C)			32,706			30,201
Net cash flow provided by operating activities, LTM			(E)			5,443			4,504
Preferred dividend requirements of subsidiaries, LTM			(F)			(18)			(18)
50% of the interest expense associated with junior subordinated debentures, LTM			(G)			(58)			(37)
Working capital items in net cash flow provided by operating activities, LTM:
Receivables						(66)			(53)
Fuel inventory						38			20
Accounts payable						254			210
Taxes accrued						54			(9)
Interest accrued						62			27
Deferred fuel costs						(302)			(187)
Customer advances – current						627			257
Other working capital accounts						(307)			(92)
Securitization regulatory charges, LTM						16			20
Total			(H)			376			193
FFO, LTM (non-GAAP)			(I)=(E-F-G-H)			5,144			4,366
FFO to adjusted debt (non-GAAP)			(I/D)			15.7%			14.5%

Calculations may differ due to rounding

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Appendix F-3: Reconciliation of GAAP to non-GAAP financial measures – adjusted debt ratios; gross liquidity; and net liquidity
($ in millions except where noted)						First quarter
						2026			2025
Total debt			(A)			34,177			31,041
Securitization debt			(B)			221			240
50% junior subordinated debentures			(C)			1,250			600
Adjusted debt (non-GAAP)			(D)=(A-B-C)			32,706			30,201
Cash and cash equivalents			(E)			3,571			1,513
Adjusted net debt (non-GAAP)			(F)=(D-E)			29,135			28,688
Commercial paper			(G)			1,367			1,330
Total capitalization			(H)			51,835			46,542
Securitization debt			(B)			221			240
Adjusted capitalization (non-GAAP)			(I)=(H-B)			51,614			46,302
Cash and cash equivalents			(E)			3,571			1,513
Adjusted net capitalization (non-GAAP)			(J)=(I-E)			48,043			44,789
Total debt to total capitalization			(A/H)			66%			67%
Adjusted debt to adjusted capitalization (non-GAAP)			(D/I)			63%			65%
Adjusted net debt to adjusted net capitalization (non-GAAP)			(F/J)			61%			64%
Available revolver capacity			(K)			4,346			4,345
Storm escrows			(L)			312			300
Equity sold forward, not yet settled (n)			(M)			1,589			3,075
Gross liquidity (non-GAAP)			(N)=(E+K)			7,917			5,858
Net liquidity (non-GAAP)			(N-G+L+M)			8,451			7,904
Entergy Corporation notes:
Due September 2025						-			800
Due September 2026						750			750
Due June 2028						650			650
Due June 2030						600			600
Due June 2031						650			650
Due June 2050						600			600
Junior subordinated debentures due December 2054						1,200			1,200
Junior subordinated debentures due June 2056						700			-
Junior subordinated debentures due June 2056						600			-
Total Parent long-term debt			(O)			5,750			5,250
Revolver draw			(P)			-			-
Unamortized debt issuance costs and discounts			(Q)			(54)			(44)
Total Parent debt			(R)=(G+O+P+Q)			7,063			6,536
Adjusted Parent debt (non-GAAP)			(S)=(R-C)			5,813			5,936
Adjusted Parent debt to total adjusted debt (non-GAAP)			(S/D)			18%			20%

Calculations may differ due to rounding

(n) Reflects adjustments, including for common dividends between contracting and settlement.

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Financial statements

Entergy Corporation
Consolidating Balance Sheet
March 31, 2026
(Dollars in thousands)
(Unaudited)
						Utility						Parent & Other						Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents:
Cash						$	61,362					$	6,783					$	68,145
Temporary cash investments						3,430,544						72,364						3,502,908
Total cash and cash equivalents						3,491,906						79,147						3,571,053
Accounts receivable:
Customer						770,177						—						770,177
Allowance for doubtful accounts						(31,024)						—						(31,024)
Associated companies						3,420						(3,420)						—
Other						205,057						3,271						208,328
Accrued unbilled revenues						484,672						—						484,672
Total accounts receivable						1,432,302						(149)						1,432,153
Deferred fuel costs						348,181						—						348,181
Fuel inventory - at average cost						124,370						5,417						129,787
Materials and supplies						1,748,934						4,725						1,753,659
Deferred nuclear refueling outage costs						127,332						—						127,332
Prepayments and other						519,058						(71,164)						447,894
TOTAL						7,792,083						17,976						7,810,059
OTHER PROPERTY AND INVESTMENTS
Investment in affiliates						3,922,697						(3,922,697)						—
Decommissioning trust funds						6,155,164						—						6,155,164
Non-utility property - at cost (less accumulated depreciation)						473,205						6,501						479,706
Storm reserve escrow accounts						311,550						—						311,550
Other						57,013						66,213						123,226
TOTAL						10,919,629						(3,849,983)						7,069,646
PROPERTY, PLANT, AND EQUIPMENT
Electric						75,229,678						186,064						75,415,742
Construction work in progress						7,730,280						57						7,730,337
Nuclear fuel						838,825						—						838,825
TOTAL PROPERTY, PLANT, AND EQUIPMENT						83,798,783						186,121						83,984,904
Less - accumulated depreciation and amortization						28,942,141						153,832						29,095,973
PROPERTY, PLANT, AND EQUIPMENT - NET						54,856,642						32,289						54,888,931
DEFERRED DEBITS AND OTHER ASSETS
Regulatory assets:
Other regulatory assets						4,890,744						—						4,890,744
Deferred fuel costs						172,201						—						172,201
Goodwill						367,582						—						367,582
Accumulated deferred income taxes						19,058						3,749						22,807
Other						618,061						(35,891)						582,170
TOTAL						6,067,646						(32,142)						6,035,504
TOTAL ASSETS						$	79,636,000					$	(3,831,860)					$	75,804,140
*Totals may not foot due to rounding.

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Entergy Corporation
Consolidating Balance Sheet
March 31, 2026
(Dollars in thousands)
(Unaudited)
						Utility						Parent & Other						Consolidated
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Currently maturing long-term debt						$	775,174					$	750,000					$	1,525,174
Notes payable and commercial paper:
Associated companies						100,228						(100,228)						—
Other						15,621						1,366,733						1,382,354
Accounts payable:
Associated companies						15,106						(15,106)						—
Other						2,745,855						2,964						2,748,819
Customer deposits						485,236						—						485,236
Taxes accrued						422,387						(6,932)						415,455
Interest accrued						251,579						81,325						332,904
Pension and other postretirement liabilities						50,960						11,210						62,170
Customer advances						980,670						—						980,670
Other						223,176						4,014						227,190
TOTAL						6,065,992						2,093,980						8,159,972
NON-CURRENT LIABILITIES
Accumulated deferred income taxes and taxes accrued						7,662,739						(1,942,189)						5,720,550
Accumulated deferred investment tax credits						185,123						—						185,123
Regulatory liability for income taxes - net						1,047,465						—						1,047,465
Other regulatory liabilities						3,559,742						—						3,559,742
Customer advances						152,198						—						152,198
Decommissioning and asset retirement cost liabilities						5,000,147						3,943						5,004,090
Accumulated provisions						462,864						223						463,087
Pension and other postretirement liabilities						70,443						28,266						98,709
Long-term debt						26,204,536						4,946,379						31,150,915
Customer advances for construction						1,665,914						—						1,665,914
Other						1,337,682						(398,860)						938,822
TOTAL						47,348,853						2,637,762						49,986,615
Subsidiaries' preferred stock without sinking fund						195,161						24,249						219,410
EQUITY
Preferred stock, no par value, authorized 1,000,000 shares;
issued shares in 2026 - none						—						—						—
Common stock, $0.01 par value, authorized 998,000,000 shares;																		—
issued 587,817,564 shares in 2026						2,280,842						(2,274,964)						5,878
Paid-in capital						5,785,108						3,489,985						9,275,093
Retained earnings						17,943,340						(5,152,855)						12,790,485
Accumulated other comprehensive income						41,552						(40,647)						905
Less - treasury stock, at cost (129,985,494 shares in 2026)						120,000						4,605,620						4,725,620
TOTAL SHAREHOLDERS' EQUITY						25,930,842						(8,584,101)						17,346,741
Subsidiaries' preferred stock without sinking fund
and noncontrolling interests						95,152						(3,750)						91,402
TOTAL						26,025,994						(8,587,851)						17,438,143
TOTAL LIABILITIES AND EQUITY						$	79,636,000					$	(3,831,860)					$	75,804,140
*Totals may not foot due to rounding.

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Entergy Corporation
Consolidating Balance Sheet
December 31, 2025
(Dollars in thousands)
(Unaudited)
						Utility						Parent & Other						Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents:
Cash						$	39,221					$	6,674					$	45,895
Temporary cash investments						1,817,764						65,257						1,883,021
Total cash and cash equivalents						1,856,985						71,931						1,928,916
Accounts receivable:
Customer						735,734						—						735,734
Allowance for doubtful accounts						(32,324)						—						(32,324)
Associated companies						4,643						(4,643)						—
Other						239,157						3,245						242,402
Accrued unbilled revenues						524,420						—						524,420
Total accounts receivable						1,471,630						(1,398)						1,470,232
Deferred fuel costs						54,133						—						54,133
Fuel inventory - at average cost						125,480						6,494						131,974
Materials and supplies						1,705,669						4,726						1,710,395
Deferred nuclear refueling outage costs						86,497						—						86,497
Prepayments and other						431,881						(7,177)						424,704
TOTAL						5,732,275						74,576						5,806,851
OTHER PROPERTY AND INVESTMENTS
Investment in affiliates						4,014,624						(4,014,624)						—
Decommissioning trust funds						6,300,880						—						6,300,880
Non-utility property - at cost (less accumulated depreciation)						475,121						6,469						481,590
Storm reserve escrow accounts						308,784						—						308,784
Other						57,013						67,401						124,414
TOTAL						11,156,422						(3,940,754)						7,215,668
PROPERTY, PLANT, AND EQUIPMENT
Electric						74,546,777						204,140						74,750,917
Construction work in progress						6,018,996						1,012						6,020,008
Nuclear fuel						834,690						—						834,690
TOTAL PROPERTY, PLANT, AND EQUIPMENT						81,400,463						205,152						81,605,615
Less - accumulated depreciation and amortization						28,598,552						152,449						28,751,001
PROPERTY, PLANT, AND EQUIPMENT - NET						52,801,911						52,703						52,854,614
DEFERRED DEBITS AND OTHER ASSETS
Regulatory assets:
Other regulatory assets						5,005,976						—						5,005,976
Deferred fuel costs						172,201						—						172,201
Goodwill						367,582						—						367,582
Accumulated deferred income taxes						12,311						3,229						15,540
Other						477,426						(25,128)						452,298
TOTAL						6,035,496						(21,899)						6,013,597
TOTAL ASSETS						$	75,726,104					$	(3,835,374)					$	71,890,730
*Totals may not foot due to rounding.

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Entergy Corporation
Consolidating Balance Sheet
December 31, 2025
(Dollars in thousands)
(Unaudited)
						Utility						Parent & Other						Consolidated
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Currently maturing long-term debt						$	1,625,140					$	750,000					$	2,375,140
Notes payable and commercial paper:
Other						20,012						637,762						657,774
Accounts payable:
Associated companies						43,470						(43,470)						—
Other						2,560,083						5,463						2,565,546
Customer deposits						479,796						—						479,796
Taxes accrued						526,984						(1,795)						525,189
Interest accrued						256,476						29,181						285,657
Deferred fuel costs						14,562						—						14,562
Pension and other postretirement liabilities						51,906						11,308						63,214
Customer advances						632,850						—						632,850
Other						218,775						4,465						223,240
TOTAL						6,430,054						1,392,914						7,822,968
NON-CURRENT LIABILITIES
Accumulated deferred income taxes and taxes accrued						7,503,093						(1,910,412)						5,592,681
Accumulated deferred investment tax credits						187,173						—						187,173
Regulatory liability for income taxes - net						1,079,699						—						1,079,699
Other regulatory liabilities						3,911,839						—						3,911,839
Customer advances						35,000						—						35,000
Decommissioning and asset retirement cost liabilities						4,943,671						3,859						4,947,530
Accumulated provisions						495,549						230						495,779
Pension and other postretirement liabilities						70,484						43,446						113,930
Long-term debt						22,956,499						4,945,522						27,902,021
Customer advances for construction						1,615,455						—						1,615,455
Other						1,359,531						(406,453)						953,078
TOTAL						44,157,993						2,676,192						46,834,185
Subsidiaries' preferred stock without sinking fund						195,161						24,249						219,410
EQUITY
Preferred stock, no par value, authorized 1,000,000 shares;
issued shares in 2025 - none						—						—						—
Common stock, $0.01 par value, authorized 998,000,000 shares;
issued 583,203,774 shares in 2025						2,280,842						(2,275,010)						5,832
Paid-in capital						5,420,248						3,559,139						8,979,387
Retained earnings						17,223,994						(4,525,558)						12,698,436
Accumulated other comprehensive income (loss)						42,971						(45,977)						(3,006)
Less - treasury stock, at cost (130,864,409 shares in 2025)						120,000						4,637,573						4,757,573
TOTAL SHAREHOLDERS' EQUITY						24,848,055						(7,924,979)						16,923,076
Subsidiaries' preferred stock without sinking fund
and noncontrolling interests						94,841						(3,750)						91,091
TOTAL						24,942,896						(7,928,729)						17,014,167
TOTAL LIABILITIES AND EQUITY						$	75,726,104					$	(3,835,374)					$	71,890,730
*Totals may not foot due to rounding.

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Entergy Corporation
Consolidating Income Statement
Three Months Ended March 31, 2026
(Dollars in thousands)
(Unaudited)
						Utility						Parent & Other						Consolidated
OPERATING REVENUES
Electric						$	3,170,273					$	—					$	3,170,273
Other						—						17,353						17,353
Total						3,170,273						17,353						3,187,626
OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale						605,295						6,529						611,824
Purchased power						358,505						4,538						363,043
Nuclear refueling outage expenses						24,143						—						24,143
Other operation and maintenance						662,442						11,123						673,565
Asset write-offs, impairments, and related charges						—						18,059						18,059
Decommissioning						58,734						84						58,818
Taxes other than income taxes						205,987						537						206,524
Depreciation and amortization						538,628						1,501						540,129
Other regulatory charges (credits) - net						119,299						—						119,299
Total						2,573,033						42,371						2,615,404
OPERATING INCOME						597,240						(25,018)						572,222
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction						47,340						—						47,340
Interest and investment income						283,679						(67,869)						215,810
Miscellaneous - net						31,595						(8,632)						22,963
Total						362,614						(76,501)						286,113
INTEREST EXPENSE
Interest expense						323,241						76,675						399,916
Allowance for borrowed funds used during construction						(20,176)						—						(20,176)
Total						303,065						76,675						379,740
INCOME BEFORE INCOME TAXES						656,789						(178,194)						478,595
Income taxes						111,404						(23,614)						87,790
CONSOLIDATED NET INCOME						545,385						(154,580)						390,805
Preferred dividend requirements of subsidiaries and noncontrolling interests						5,390						499						5,889
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION						$	539,995					$	(155,079)					$	384,916
EARNINGS PER AVERAGE COMMON SHARE:
BASIC						$1.18						($0.34)						$0.84
DILUTED						$1.17						($0.34)						$0.83
AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC																		455,717,833
DILUTED																		462,510,666
*Totals may not foot due to rounding.

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Entergy Corporation
Consolidating Income Statement
Three Months Ended March 31, 2025
(Dollars in thousands)
(Unaudited)
						Utility						Parent & Other						Consolidated
OPERATING REVENUES
Electric						$	2,757,866					$	—					$	2,757,866
Natural gas						71,731						—						71,731
Other						—						17,277						17,277
Total						2,829,597						17,277						2,846,874
OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale						338,983						5,539						344,522
Purchased power						342,084						3,662						345,746
Nuclear refueling outage expenses						33,041						—						33,041
Other operation and maintenance						662,474						10,193						672,667
Decommissioning						55,852						77						55,929
Taxes other than income taxes						198,145						620						198,765
Depreciation and amortization						511,335						1,608						512,943
Other regulatory charges (credits) - net						(16,843)						—						(16,843)
Total						2,125,071						21,699						2,146,770
OPERATING INCOME						704,526						(4,422)						700,104
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction						44,018						—						44,018
Interest and investment income						107,175						(73,769)						33,406
Miscellaneous - net						16,727						(2,001)						14,726
Total						167,920						(75,770)						92,150
INTEREST EXPENSE
Interest expense						285,724						62,660						348,384
Allowance for borrowed funds used during construction						(18,593)						—						(18,593)
Total						267,131						62,660						329,791
INCOME BEFORE INCOME TAXES						605,315						(142,852)						462,463
Income taxes						114,273						(14,232)						100,041
CONSOLIDATED NET INCOME						491,042						(128,620)						362,422
Preferred dividend requirements of subsidiaries and noncontrolling interests						1,163						499						1,662
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION						$	489,879					$	(129,119)					$	360,760
EARNINGS PER AVERAGE COMMON SHARE:
BASIC						$1.14						($0.30)						$0.84
DILUTED						$1.11						($0.29)						$0.82
AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC																		430,347,768
DILUTED																		440,648,342
*Totals may not foot due to rounding.

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Entergy Corporation
Consolidating Income Statement
Twelve Months Ended March 31, 2026
(Dollars in thousands)
(Unaudited)
						Utility						Parent & Other						Consolidated
OPERATING REVENUES
Electric						$	13,187,721					$	—					$	13,187,721
Natural gas						40,876						—						40,876
Other						—						58,841						58,841
Total						13,228,597						58,841						13,287,438
OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale						2,604,659						22,046						2,626,705
Purchased power						1,244,136						14,159						1,258,295
Nuclear refueling outage expenses						104,531						—						104,531
Other operation and maintenance						3,012,968						43,027						3,055,995
Asset write-offs, impairments, and related charges						12,795						18,059						30,854
Decommissioning						230,438						327						230,765
Taxes other than income taxes						823,742						2,681						826,423
Depreciation and amortization						2,098,347						6,531						2,104,878
Other regulatory charges (credits) - net						(25,404)						—						(25,404)
Total						10,106,212						106,830						10,213,042
OPERATING INCOME						3,122,385						(47,989)						3,074,396
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction						184,048						—						184,048
Interest and investment income						781,507						(281,755)						499,752
Miscellaneous - net						(70,967)						(13,217)						(84,184)
Total						894,588						(294,972)						599,616
INTEREST EXPENSE
Interest expense						1,199,538						264,949						1,464,487
Allowance for borrowed funds used during construction						(77,887)						—						(77,887)
Total						1,121,651						264,949						1,386,600
INCOME BEFORE INCOME TAXES						2,895,322						(607,910)						2,287,412
Income taxes						548,403						(62,702)						485,701
CONSOLIDATED NET INCOME						2,346,919						(545,208)						1,801,711
Preferred dividend requirements of subsidiaries and noncontrolling interests						17,286						1,997						19,283
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION						$	2,329,633					$	(547,205)					$	1,782,428
EARNINGS PER AVERAGE COMMON SHARE:
BASIC						$5.20						($1.22)						$3.98
DILUTED						$5.12						($1.20)						$3.91
AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC																		448,285,113
DILUTED																		455,313,322
*Totals may not foot due to rounding.

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Entergy Corporation
Consolidating Income Statement
Twelve Months Ended March 31, 2025
(Dollars in thousands)
(Unaudited)
						Utility						Parent & Other						Consolidated
OPERATING REVENUES
Electric						$	11,679,091					$	—					$	11,679,091
Natural gas						184,135						—						184,135
Other						—						68,673						68,673
Total						11,863,226						68,673						11,931,899
OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale						1,949,051						35,728						1,984,779
Purchased power						929,536						27,304						956,840
Nuclear refueling outage expenses						141,797						—						141,797
Other operation and maintenance						2,832,923						50,949						2,883,872
Asset write-offs, impairments, and related charges (credits)						—						(24,641)						(24,641)
Decommissioning						222,418						209						222,627
Taxes other than income taxes						756,767						2,517						759,284
Depreciation and amortization						2,019,961						6,490						2,026,451
Other regulatory charges (credits) - net						(132,322)						—						(132,322)
Total						8,720,131						98,556						8,818,687
OPERATING INCOME						3,143,095						(29,883)						3,113,212
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction						150,269						—						150,269
Interest and investment income						474,181						(292,607)						181,574
Miscellaneous - net						(92,153)						(332,345)						(424,498)
Total						532,297						(624,952)						(92,655)
INTEREST EXPENSE
Interest expense						1,015,457						258,773						1,274,230
Allowance for borrowed funds used during construction						(60,819)						—						(60,819)
Total						954,638						258,773						1,213,411
INCOME BEFORE INCOME TAXES						2,720,754						(913,608)						1,807,146
Income taxes						595,390						(135,315)						460,075
CONSOLIDATED NET INCOME						2,125,364						(778,293)						1,347,071
Preferred dividend requirements of subsidiaries and noncontrolling interests						4,005						1,996						6,001
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION						$	2,121,359					$	(780,289)					$	1,341,070
EARNINGS PER AVERAGE COMMON SHARE:
BASIC						$4.95						($1.82)						$3.13
DILUTED						$4.88						($1.79)						$3.08
AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC																		428,718,938
DILUTED																		434,814,706
*Totals may not foot due to rounding.

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Entergy Corporation
Consolidated Cash Flow Statement
Three Months Ended March 31, 2026 vs. 2025
(Dollars in thousands)
(Unaudited)
						2026						2025						Variance
OPERATING ACTIVITIES
Consolidated net income						$	390,805					$	362,422					$	28,383
Adjustments to reconcile consolidated net income to net cash
flow provided by operating activities:
Depreciation, amortization, and decommissioning, including nuclear fuel amortization						654,669						622,566						32,103
Deferred income taxes, tax credits, and non-current taxes accrued						86,073						94,973						(8,900)
Asset write-offs, impairments, and related charges						18,059						—						18,059
Pension settlement charge						—						—						—
Changes in working capital:																		—
Receivables						65,110						61,477						3,633
Fuel inventory						2,187						3,261						(1,074)
Accounts payable						26,198						(189,497)						215,695
Taxes accrued						(109,734)						(95,589)						(14,145)
Interest accrued						47,247						11,595						35,652
Deferred fuel costs						(308,610)						(277,236)						(31,374)
Customer advances - current						251,591						105,799						145,792
Other working capital accounts						(116,674)						5,506						(122,180)
Changes in provisions for estimated losses						(32,692)						(34,239)						1,547
Changes in other regulatory assets						115,232						154,818						(39,586)
Changes in other regulatory liabilities						(384,331)						(201,803)						(182,528)
Change in customer advances - non-current						117,198						25,000						92,198
Changes in pension and other postretirement funded status						(59,013)						(58,834)						(179)
Other						65,649						(44,031)						109,680
Net cash flow provided by operating activities						828,964						546,188						282,776
INVESTING ACTIVITIES
Construction/capital expenditures						(2,252,293)						(1,660,169)						(592,124)
Allowance for equity funds used during construction						47,340						44,018						3,322
Nuclear fuel purchases						(150,738)						(88,557)						(62,181)
Payment for purchase of plant						—						(1,282)						1,282
Changes in securitization account						(5,727)						(5,438)						(289)
Payments to storm reserve escrow accounts						(2,767)						(4,448)						1,681
Receipts from storm reserve escrow accounts						—						43,789						(43,789)
Decrease (increase) in other investments						(17,929)						472						(18,401)
Litigation proceeds for reimbursement of spent nuclear fuel storage costs						—						3,546						(3,546)
Proceeds from nuclear decommissioning trust fund sales						945,975						364,837						581,138
Investment in nuclear decommissioning trust funds						(985,748)						(407,146)						(578,602)
Net cash flow used in investing activities						(2,421,887)						(1,710,378)						(711,509)
FINANCING ACTIVITIES
Proceeds from the issuance of:
Long-term debt						3,681,682						2,447,850						1,233,832
Treasury stock						6,592						22,660						(16,068)
Common stock						345,711						—						345,711
Retirement of long-term debt						(1,290,977)						(852,754)						(438,223)
Changes in commercial paper - net						724,580						402,694						321,886
Customer advances received for construction						261,711						211,459						50,252
Customer advances used for construction						(190,902)						(149,543)						(41,359)
Other						(5,890)						8,360						(14,250)
Dividends paid:																		—
Common stock						(292,867)						(258,249)						(34,618)
Preferred stock						(4,580)						(4,580)						—
Net cash flow provided by (used in) financing activities						3,235,060						1,827,897						1,407,163
Net increase in cash and cash equivalents						1,642,137						663,707						978,430
Cash and cash equivalents at beginning of period						1,928,916						859,703						1,069,213
Cash and cash equivalents at end of period						$	3,571,053					$	1,523,410					$	2,047,643
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest - net of amount capitalized						$	287,389					$	326,519					$	(39,130)
Income taxes - net						$	(423)					$	(1,252)					$	829
Noncash investing activities:
Accrued construction expenditures						$	657,112					$	657,132					$	(20)

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Entergy Corporation
Consolidated Cash Flow Statement
Twelve Months Ended March 31, 2026 vs. 2025
(Dollars in thousands)
(Unaudited)
						2026						2025						Variance
OPERATING ACTIVITIES
Consolidated net income						$	1,801,711					$	1,347,071					$	454,640
Adjustments to reconcile consolidated net income to net cash
flow provided by operating activities:
Depreciation, amortization, and decommissioning, including nuclear fuel amortization						2,569,241						2,465,716						103,525
Deferred income taxes, tax credits, and non-current taxes accrued						1,006,609						436,334						570,275
Asset write-offs, impairments, and related charges (credits)						30,854						(24,641)						55,495
Pension settlement charge						—						319,675						(319,675)
Changes in working capital:																		—
Receivables						(66,200)						(53,388)						(12,812)
Fuel inventory						37,853						19,772						18,081
Accounts payable						254,450						209,760						44,690
Taxes accrued						53,938						(8,611)						62,549
Interest accrued						61,755						27,337						34,418
Deferred fuel costs						(302,483)						(187,343)						(115,140)
Customer advances - current						626,979						257,461						369,518
Other working capital accounts						(306,653)						(92,018)						(214,635)
Changes in provisions for estimated losses						(8,737)						(29)						(8,708)
Changes in other regulatory assets						245,328						296,234						(50,906)
Changes in other regulatory liabilities						(1,717)						253,169						(254,886)
Change in customer advances - non-current						152,198						25,000						127,198
Changes in pension and other postretirement funded status						(278,365)						(452,212)						173,847
Other						(433,334)						(335,680)						(97,654)
Net cash flow provided by operating activities						5,443,427						4,503,607						939,820
INVESTING ACTIVITIES
Construction/capital expenditures						(8,277,046)						(5,537,356)						(2,739,690)
Allowance for equity funds used during construction						184,048						150,269						33,779
Nuclear fuel purchases						(315,093)						(264,679)						(50,414)
Payment for purchase of plant						(2,235)						(650,602)						648,367
Proceeds from sale of business and assets						858,588						—						858,588
Insurance proceeds received for property damages						—						7,907						(7,907)
Changes in securitization account						2,545						6,804						(4,259)
Payments to storm reserve escrow accounts						(13,213)						(17,169)						3,956
Receipts from storm reserve escrow accounts						2,781						44,525						(41,744)
Decrease (increase) in other investments						(131,789)						2,246						(134,035)
Litigation proceeds for reimbursement of spent nuclear fuel storage costs						—						85,958						(85,958)
Proceeds from nuclear decommissioning trust fund sales						2,091,135						2,680,565						(589,430)
Investment in nuclear decommissioning trust funds						(2,220,684)						(2,779,985)						559,301
Net cash flow used in investing activities						(7,820,963)						(6,271,517)						(1,549,446)
FINANCING ACTIVITIES
Proceeds from the issuance of:
Long-term debt						6,984,277						8,140,480						(1,156,203)
Treasury stock						20,573						152,695						(132,122)
Common stock						1,481,814						—						1,481,814
Retirement of long-term debt						(3,940,023)						(5,071,108)						1,131,085
Changes in commercial paper - net						52,369						(583,519)						635,888
Customer advances received for construction						1,694,017						702,603						991,414
Customer advances used for construction						(704,255)						(325,056)						(379,199)
Other						(26,505)						(12,366)						(14,139)
Dividends paid:																		—
Common stock						(1,108,769)						(998,949)						(109,820)
Preferred stock						(18,319)						(18,319)						—
Net cash flow provided by financing activities						4,435,179						1,986,461						2,448,718
Net increase in cash and cash equivalents						2,057,643						218,551						1,839,092
Cash and cash equivalents at beginning of period						1,513,410						1,294,859						218,551
Cash and cash equivalents at end of period						$	3,571,053					$	1,513,410					$	2,057,643
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest - net of amount capitalized						$	1,199,154					$	1,203,219					$	(4,065)
Income taxes - net (includes production tax credit sale proceeds in 2025)						$	(514,242)					$	40,615					$	(554,857)
Noncash investing activities:
Accrued construction expenditures						$	800,027					$	657,132					$	142,895

Page 27