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News Release

Media Contact: Gillian Moore

24-Hour: 800.559.3853

Analyst Contact: Mike Switzer

Office: 704.382.6473

May 5, 2026

Duke Energy reports first-quarter 2026 financial results

▪First-quarter 2026 reported EPS of $1.97 and adjusted EPS of $1.93

▪Seizing growth opportunities with a total of 7.6 GW of economic development projects secured under Electric Service Agreements

▪Successfully closed $5.3 billion strategic transactions to strengthen balance sheet and support growth

CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today announced first-quarter 2026 reported EPS of $1.97, prepared in accordance with Generally Accepted Accounting Principles (GAAP), and adjusted EPS of $1.93. This is compared to reported and adjusted EPS of $1.76 for the first quarter of 2025.

Adjusted EPS excludes the impact of certain items that are included in reported EPS. The difference between first-quarter 2026 reported and adjusted EPS includes gains on asset sales, charges related to legal and regulatory settlements, and results of discontinued operations.

Higher first-quarter 2026 adjusted results were driven by recovery of infrastructure investments to reliably serve customers in our growing jurisdictions, along with favorable weather. These items were partially offset by higher O&M expenses, including storm costs, as well as higher depreciation on a growing asset base.

The company is reaffirming its 2026 adjusted EPS guidance of $6.55 to $6.80 and long-term adjusted EPS growth rate of 5% to 7% through 2030 off the 2025 midpoint of $6.30, with confidence to earn in the top half of the range beginning in 2028. Management does not forecast reported GAAP EPS and related long-term growth rates.

“We’re advancing the economies of the states we serve by making the right investments at the right time in a way that delivers value for our customers and communities,” said Harry Sideris, Duke Energy president and chief executive officer. “From maximizing our existing fleet, to constructing new generation and strengthening the grid, we’re executing today and building for the future – all while pursuing solutions to keep rates as low as possible.”

Duke Energy News Release 2

Business segment results

In addition to the following summary of first-quarter 2026 business segment performance, comprehensive tables with detailed EPS drivers for the first quarter compared to prior year are provided at the end of this news release.

The discussion below of first-quarter results includes both GAAP segment income and adjusted segment income, which is a non-GAAP financial measure. The tables at the end of this news release present a full reconciliation of GAAP reported results to adjusted results.

Electric Utilities and Infrastructure

On a reported basis, Electric Utilities and Infrastructure recognized first-quarter 2026 segment income of $1,254 million, compared to segment income of $1,276 million in the first quarter of 2025. In addition to the drivers outlined below, first-quarter 2026 results include the impact of charges related to legal and regulatory settlements at Duke Energy Carolinas and Duke Energy Progress, which were treated as special items and excluded from adjusted earnings.

On an adjusted basis, Electric Utilities and Infrastructure recognized first-quarter 2026 segment income of $1,404 million, compared to segment income of $1,276 million in the first quarter of 2025. This represents an increase of $0.16 per share. Higher quarterly results were primarily driven by recovery of infrastructure investments to reliably serve customers in our growing jurisdictions, along with favorable weather, partially offset by higher O&M expenses, including storm costs, along with higher depreciation on a growing asset base.

Gas Utilities and Infrastructure

On a reported basis, Gas Utilities and Infrastructure recognized first-quarter 2026 segment income of $532 million, compared to segment income of $349 million in the first quarter of 2025. In addition to the drivers outlined below, first-quarter 2026 results include the impact of gains on asset sales related to Piedmont's Tennessee business and SustainRNG projects, which were treated as special items and excluded from adjusted earnings.

On an adjusted basis, Gas Utilities and Infrastructure recognized first-quarter 2026 segment income of $361 million, compared to segment income of $349 million in the first quarter of 2025. This represents an increase of $0.01 per share. Higher quarterly results were primarily driven by recovery of infrastructure investments to reliably serve customers in our growing jurisdictions, partially offset by higher O&M expenses and depreciation on a growing asset base.

Other

Other primarily includes interest expense on holding company debt, other unallocated corporate costs and results from Duke Energy’s captive insurance company.

On a reported and adjusted basis, Other recognized a first-quarter 2026 segment loss of $263 million, compared to segment loss of $260 million in the first quarter of 2025.

Duke Energy News Release 3

Effective tax rate

Duke Energy's consolidated reported effective tax rate for the first quarter of 2026 was 17.6% compared to 12.1% in the first quarter of 2025. The increase in the reported effective tax rate was primarily due to non-deductible goodwill associated with the sale of Piedmont's Tennessee business.

Duke Energy's consolidated adjusted effective tax rate was 10.6% for the first quarter of 2026 compared to 12.2% in the first quarter of 2025. The decrease in the adjusted effective tax rate was primarily due to an increase in the amortization of nuclear production tax credits.

The tables at the end of this news release present a reconciliation of the reported effective tax rate to the adjusted effective tax rate.

Earnings conference call for analysts

An earnings conference call for analysts is scheduled at 10 a.m. ET today to discuss first-quarter 2026 financial results and other business and financial updates. The conference call will be hosted by Harry Sideris, president and chief executive officer, and Brian Savoy, executive vice president and chief financial officer.

The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy’s website or by dialing 585.542.9983 in the U.S. or 833.461.5787 outside the U.S. The confirmation code is 939851751. Please call in 10 to 15 minutes prior to the scheduled start time.

Special Items and Non-GAAP Reconciliation

The following table presents a reconciliation of GAAP reported EPS to adjusted EPS for first-quarter 2026 and 2025 financial results:


(In millions, except per share amounts)	After-Tax Amount		1Q 2026 EPS		1Q 2025 EPS
EPS, as reported			$	1.97	$	1.76
Adjustments to reported EPS:
First Quarter 2026
Legal and Regulatory Settlements	$	150	$	0.19
Asset Sales	(171)		(0.22)
Discontinued Operations	(13)		(0.02)


Total adjustments(a)			$	(0.04)	$	—
EPS, adjusted			$	1.93	$	1.76

(a) Total EPS adjustments may not foot due to rounding.

Duke Energy News Release 4

Non-GAAP financial measures

Management evaluates financial performance in part based on non-GAAP financial measures, including adjusted earnings, adjusted EPS and adjusted effective tax rate. Adjusted earnings and adjusted EPS represent income (loss) from continuing operations available to Duke Energy Corporation common stockholders in dollar and basic per share amounts, adjusted for the dollar and per share impact of special items. The adjusted effective tax rate is calculated using pretax earnings and income tax expense, both adjusted to include the impact of noncontrolling interests and preferred dividends and to exclude the impact of special items. Special items represent certain charges and credits, which management believes are not indicative of Duke Energy's ongoing performance.

Special items included within the financial statement periods presented, which management does not believe are reflective of ongoing costs, are described below:

•Legal and Regulatory Settlements represent the impact of charges related to legal settlements as well as regulatory matters related to the establishment of a regulatory liability associated with an energy efficiency program at Duke Energy Carolinas and Duke Energy Progress.

•Asset Sales represent the impact of gains on sale of assets related to Piedmont's Tennessee business and certain renewable natural gas investments.

Management uses these non-GAAP financial measures for planning, forecasting, and to report financial results to the Board of Directors, employees, and stockholders, as well as analysts and investors. The most directly comparable GAAP measures for adjusted earnings, adjusted EPS and the adjusted effective tax rate are Net Income (Loss) Available to Duke Energy Corporation common stockholders (GAAP reported earnings (loss)), Basic earnings (loss) per share Available to Duke Energy Corporation common stockholders (GAAP reported earnings (loss) per share), and the reported effective tax rate, respectively.

Due to the forward-looking nature of forecasted adjusted EPS and related growth rates, the information to reconcile those amounts to the most directly comparable GAAP financial measure is not available, as management is unable to project special items, such as legal settlements, impacts of regulatory orders or asset impairments, for future periods.

Duke Energy News Release 5

Management evaluates segment performance based on segment income and other net loss. Segment income and other net loss are defined as income (loss) from continuing operations net of income attributable to noncontrolling interests and preferred stock dividends. Segment income and other net loss include intercompany revenues and expenses that are eliminated in the Condensed Consolidated Financial Statements. Management also uses adjusted segment income and adjusted other net loss as measures of historical and anticipated future segment performance. Adjusted segment income and adjusted other net loss are non-GAAP financial measures, as they represent segment income and other net loss adjusted for special items, as discussed above. Management believes the presentation of adjusted segment income and adjusted other net loss provide useful information to investors, as they provide additional relevant comparison of a segment’s or Other's performance across periods. The most directly comparable GAAP measures for adjusted segment income and adjusted other net loss are segment income and other net loss.

Due to the forward-looking nature of forecasted adjusted segment income and forecasted adjusted other net loss and related growth rates, the information to reconcile these amounts to the most directly comparable GAAP financial measures are not available, as management is unable to project special items, as discussed above.

Duke Energy’s adjusted earnings, adjusted EPS, adjusted effective tax rate, adjusted segment income, and adjusted other net loss may not be comparable to similarly titled measures of another company because other companies may not calculate the measures in the same manner.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.

More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.

Forward-Looking Information

This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’s beliefs and assumptions and can often be identified by terms and phrases that include “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,” “target,” “guidance,” “outlook” or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to:

Duke Energy News Release 6

◦The ability to implement our business strategy, including meeting forecasted load growth demand, grid and fleet modernization objectives, and reducing carbon emissions, while balancing customer reliability and keeping costs as low as possible for our customers;

◦State, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements and/or uncertainty of applicability or changes to such legislative and regulatory initiatives, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices;

◦The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate;

◦The ability to timely recover eligible costs, including amounts associated with coal ash impoundment retirement obligations, asset retirement and construction costs related to carbon emissions reductions, and costs related to significant weather events, particularly in periods of heightened customer affordability concerns, bill volatility, or public and political scrutiny, and to earn an adequate return on investment through rate case proceedings and the regulatory process;

◦The costs of decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process;

◦The impact of extraordinary external events, such as a global pandemic, trade wars or military conflict, and their collateral consequences, including the disruption of global supply chains or the economic activity in our service territories;

◦Costs and effects of legal and administrative proceedings, settlements, investigations and claims;

◦Industrial, commercial and residential decline in service territories or customer bases resulting from sustained downturns of the economy, storm damage, reduced customer usage due to cost pressures from inflation, tariffs, or fuel costs, worsening economic health of our service territories, reductions in customer usage patterns, or lower than anticipated load growth, particularly if usage of electricity by data centers is less than currently projected, energy efficiency efforts, natural gas building and appliance electrification, and use of alternative energy sources, such as self-generation and distributed generation technologies;

◦Federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures, natural gas electrification, and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in a reduced number of customers, excess generation resources as well as stranded costs;

◦Advancements in technology, including artificial intelligence;

◦Additional competition in electric and natural gas markets, municipalization and continued industry consolidation;

◦The influence of weather and other natural phenomena on operations, financial position, and cash flows, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change;

◦Changing or conflicting investor, customer and other stakeholder expectations and demands, particularly regarding environmental, social and governance matters and costs related thereto;

◦The ability to successfully operate electric generating facilities and deliver electricity to customers, including direct or indirect effects to the company resulting from an incident that affects the United States electric grid or generating resources;

◦Operational interruptions to our natural gas distribution and transmission activities;

◦The availability of adequate interstate pipeline transportation capacity and natural gas supply;

◦The impact on facilities and business from a terrorist or other attack, war, vandalism, cybersecurity threats, data security breaches, operational events, information technology failures or other catastrophic events, such as severe storms, fires, explosions, pandemic health events or other similar occurrences;

◦The inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers;

Duke Energy News Release 7

◦The timing and extent of changes in commodity prices, including any impact from increased tariffs, export controls and interest rates, and the ability to timely recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets;

◦The results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions, an individual utility’s generation portfolio, and general market and economic conditions;

◦Credit ratings of the Duke Energy Registrants may be different from what is expected;

◦Declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds;

◦Construction and development risks associated with the completion of the Duke Energy Registrants’ capital investment projects, including risks related to financing, timing and receipt of necessary regulatory approvals, obtaining and complying with terms of permits, meeting construction budgets and schedules, obtaining sufficient skilled labor and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all;

◦Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants;

◦The ability to control operation and maintenance costs;

◦The level of creditworthiness of counterparties to transactions;

◦The ability to obtain adequate insurance at acceptable costs and recover on claims made;

◦Employee workforce factors, including the potential inability to attract and retain key personnel;

◦The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent);

◦The performance of projects undertaken by our businesses and the success of efforts to invest in and develop new opportunities;

◦The effect of accounting and reporting pronouncements issued periodically by accounting standard-setting bodies and the SEC;

◦The impact of United States tax legislation to our financial condition, results of operations or cash flows and our credit ratings;

◦The impacts from potential impairments of goodwill or investment carrying values;

◦Asset or business acquisitions and dispositions may not be consummated or yield the anticipated benefits, which could adversely affect our financial condition, credit metrics or ability to execute strategic and capital plans; and

◦The actions of activist shareholders could disrupt our operations, impact our ability to execute on our business strategy, or cause fluctuations in the trading price of our common stock.

Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

DUKE ENERGY CORPORATION

REPORTED TO ADJUSTED EARNINGS RECONCILIATION

Three Months Ended March 31, 2026

(Dollars in millions, except per share amounts)


			Special Items
	Reported Earnings		Legal and Regulatory Settlements			Asset Sales			Discontinued Operations			Total Adjustments		Adjusted Earnings
SEGMENT INCOME (LOSS)
Electric Utilities and Infrastructure	$	1,254	$	150	A	$	—		$	—		$	150	$	1,404
Gas Utilities and Infrastructure	532		—			(171)		B	—			(171)		361

Total Reportable Segment Income	1,786		150			(171)			—			(21)		1,765
Other	(263)		—						—			—		(263)
Discontinued Operations	13		—			—			(13)		C	(13)		—
Net Income Available to Duke Energy Corporation Common Stockholders	$	1,536	$	150		$	(171)		$	(13)		$	(34)	$	1,502
EPS AVAILABLE TO DUKE ENERGY CORPORATION COMMON STOCKHOLDERS	$	1.97	$	0.19		$	(0.22)		$	(0.02)		$	(0.04)	$	1.93

Note: Total EPS adjustments do not cross-foot due to rounding.

A – $197 million total pretax recorded at Duke Energy Carolinas and Duke Energy Progress within Operations, maintenance and other and Operating Revenues on the Condensed Consolidated Statements of Operations for legal settlements as well as regulatory matters related to the establishment of a regulatory liability associated with an energy efficiency program. The segment income amount for these items are net of a $47 million tax benefit.

B – Net of $196 million tax expense which includes the impact of nondeductible goodwill related to the sale of Piedmont's Tennessee business.

•$368 million recorded within Gains on Sales of Other Assets and Other, net, and $7 million recorded within Property and other taxes on the Condensed Consolidated Statements of Operations related to the sale of Piedmont's Tennessee business.

•$6 million recorded within Gains on Sales of Other Assets and Other, net on the Condensed Consolidated Statements of Operations related to the sale of certain renewable natural gas investments.

C – Recorded in Income from Discontinued Operations, net of tax, on the Condensed Consolidated Statements of Operations.

Weighted Average Shares, basic (reported and adjusted) – 778 million

DUKE ENERGY CORPORATION

REPORTED TO ADJUSTED EARNINGS RECONCILIATION

Three Months Ended March 31, 2025

(Dollars in millions, except per share amounts)



	Reported Earnings		Discontinued Operations		Total Adjustments		Adjusted Earnings
SEGMENT INCOME (LOSS)
Electric Utilities and Infrastructure	$	1,276	$	—	$	—	$	1,276
Gas Utilities and Infrastructure	349		—		—		349

Total Reportable Segment Income	1,625		—		—		1,625
Other	(260)		—		—		(260)


Net Income Available to Duke Energy Corporation Common Stockholders	$	1,365	$	—	$	—	$	1,365
EPS AVAILABLE TO DUKE ENERGY CORPORATION COMMON STOCKHOLDERS	$	1.76			$	—	$	1.76

Weighted Average Shares, basic (reported and adjusted) – 777 million

DUKE ENERGY CORPORATION

EFFECTIVE TAX RECONCILIATION

March 2026

(Dollars in millions)


	Three Months Ended March 31, 2026
		Balance		Effective Tax Rate

Reported Income From Continuing Operations Before Income Taxes		$	1,897
Legal and Regulatory Settlements		197
Asset Sales		(367)
Noncontrolling Interests		(32)
Preferred Dividends		(14)

Adjusted Pretax Income		$	1,681

Reported Income Tax Expense From Continuing Operations		$	333	17.6	%
Legal and Regulatory Settlements		47
Asset Sales		(196)



Noncontrolling Interest Portion of Income Taxes(a)		(5)
Adjusted Tax Expense		$	179	10.6	%


	Three Months Ended March 31, 2025
		Balance		Effective Tax Rate

Reported Income From Continuing Operations Before Income Taxes		$	1,597



Noncontrolling Interests		(28)
Preferred Dividends		(14)
Adjusted Pretax Income		$	1,555

Reported Income Tax Expense From Continuing Operations		$	193	12.1	%




Noncontrolling Interest Portion of Income Taxes(a)		(3)
Adjusted Tax Expense		$	190	12.2	%

(a) Income tax related to non-pass-through entities for tax purposes.

DUKE ENERGY CORPORATION

EARNINGS VARIANCES

March 2026 YTD vs. Prior Year



(Dollars per share)	Electric Utilities and Infrastructure		Gas Utilities and Infrastructure		Other			Consolidated









2025 YTD Reported and Adjusted Earnings Per Share	$	1.64	$	0.45		$	(0.33)		$	1.76
Weather	0.04		—			—			0.04
Volume(a)	0.03		—			—			0.03
Riders and Other Retail Margin(b)	0.10		0.03			—			0.13
Rate case impacts, net(c)	0.13		0.01			—			0.14
Wholesale	0.01		—			—			0.01
Operations and maintenance, net of recoverables(d)	(0.08)		(0.01)			—			(0.09)


Interest Expense	(0.02)		—			(0.03)			(0.05)
AFUDC Equity	0.02		—			—			0.02
Depreciation and amortization(e)	(0.08)		(0.01)			—			(0.09)

Other	0.01		(0.01)			0.03			0.03
Total variance	$	0.16	$	0.01		$	—		$	0.17

2026 YTD Adjusted Earnings Per Share	$	1.80	$	0.46		$	(0.33)		$	1.93
Legal and Regulatory Settlements	(0.19)		—			—			(0.19)
Asset Sales	—		0.22			—			0.22

Discontinued Operations	—		—			0.02			0.02

2026 YTD Reported Earnings Per Share	$	1.61	$	0.68		$	(0.31)		$	1.97

Note: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate for all drivers. Basic weighted average shares outstanding increased from 777 million to 778 million. Totals may not foot or cross-foot due to rounding.

(a) Includes block and seasonal pricing.

(b) Electric Utilities and Infrastructure includes transmission revenues and higher grid modernization riders. Gas Utilities and Infrastructure includes customer growth in North Carolina and South Carolina.

(c) Electric Utilities and Infrastructure includes impacts from DEI rates, effective February 2025 (+$0.04), DEC North Carolina Year 3 rates, effective January 2026, and DEC South Carolina rates, effective March 2026 (+$0.03), DEF Year 2 rates, effective January 2026 (+$0.03) DEP North Carolina Year 3 rates, effective October 2025, and DEP South Carolina rates, effective February 2026 (+$0.02) and DEK rates, effective July 2025 (+$0.01). Gas Utilities and Infrastructure includes impacts from DEK rates, effective January 2026.

(d) Electric Utilities and Infrastructure includes higher storm costs (-$0.04), increased environmental reserves, and higher grid maintenance and generation outage costs in the current year.

(e) Electric Utilities and Infrastructure excludes rate case impacts.


DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In millions, except per share amounts)

	Three Months Ended
	March 31,
		2026		2025
Operating Revenues
Regulated electric		$	7,803	$	7,064
Regulated natural gas		1,297		1,105
Nonregulated electric and other		78		80
Total operating revenues		9,178		8,249
Operating Expenses
Fuel used in electric generation and purchased power		2,419		2,099
Cost of natural gas		525		374
Operation, maintenance and other		1,752		1,499
Depreciation and amortization		1,689		1,512
Property and other taxes		452		428

Total operating expenses		6,837		5,912
Gains on Sales of Other Assets and Other, net		384		6
Operating Income		2,725		2,343
Other Income and Expenses
Equity in earnings of unconsolidated affiliates		7		11
Other income and expenses, net		133		132
Total other income and expenses		140		143
Interest Expense		968		889
Income From Continuing Operations Before Income Taxes		1,897		1,597
Income Tax Expense From Continuing Operations		333		193
Income From Continuing Operations		1,564		1,404
Income From Discontinued Operations, net of tax		13		—
Net Income		1,577		1,404
Less: Net Income Attributable to Noncontrolling Interests		27		25
Net Income Attributable to Duke Energy Corporation		1,550		1,379
Less: Preferred Dividends		14		14

Net Income Available to Duke Energy Corporation Common Stockholders		$	1,536	$	1,365

Earnings Per Share – Basic and Diluted
Income from continuing operations available to Duke Energy Corporation common stockholders
Basic and Diluted		$	1.95	$	1.76

Income from discontinued operations attributable to Duke Energy Corporation common stockholders
Basic and Diluted		$	0.02	$	—

Net income available to Duke Energy Corporation common stockholders
Basic and Diluted		$	1.97	$	1.76

Weighted average shares outstanding
Basic		778		777
Diluted		779		777

DUKE ENERGY CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)


(In millions)	March 31, 2026		December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents	$	2,140	$	245

Receivables (net of allowance for doubtful accounts of $201 at 2026 and $194 at 2025)	3,947		4,230


Inventory (includes $1,062 at 2026 and $669 at 2025 related to VIEs)	4,572		4,569

Regulatory assets (includes $204 at 2026 and 2025 related to VIEs)	2,201		1,934
Assets held for sale	—		109
Other (includes $82 at 2026 and $88 at 2025 related to VIEs)	586		526
Total current assets	13,446		11,613
Property, Plant and Equipment
Cost	193,525		190,409
Accumulated depreciation and amortization	(61,252)		(60,450)

Net property, plant and equipment	132,273		129,959
Other Noncurrent Assets
Goodwill	19,010		19,010
Regulatory assets (includes $3,062 at 2026 and $3,108 at 2025 related to VIEs)	15,059		14,379
Nuclear decommissioning trust funds	12,644		12,889
Operating lease right-of-use assets, net	1,169		1,241
Investments in equity method unconsolidated affiliates	328		330
Assets held for sale	—		$	2,148
Other	4,119		4,167
Total other noncurrent assets	52,329		54,164
Total Assets	$	198,048	$	195,736
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (includes $376 at 2026 and $296 at 2025 related to VIEs)	$	4,732	$	5,223
Notes payable and commercial paper	2,373		2,624
Taxes accrued	839		975
Interest accrued	816		922
Current maturities of long-term debt (includes $147 at 2026 and $118 at 2025 related to VIEs)	7,395		7,104

Asset retirement obligations	574		579
Regulatory liabilities	1,554		1,271
Liabilities associated with assets held for sale	—		84
Other	2,051		2,265
Total current liabilities	20,334		21,047
Long-Term Debt (includes $3,222 at 2026 and $3,308 at 2025 related to VIEs)	80,477		80,108
Other Noncurrent Liabilities
Deferred income taxes	12,799		12,377
Asset retirement obligations	9,036		9,046
Regulatory liabilities	14,774		15,682
Operating lease liabilities	964		1,033
Accrued pension and other post-retirement benefit costs	384		396
Investment tax credits	985		969
Liabilities associated with assets held for sale	—		$	170
Other	1,817		1,889
Total other noncurrent liabilities	40,759		41,562
Commitments and Contingencies
Equity
Preferred stock, Series A, $0.001 par value, 40 million depositary shares authorized and outstanding at 2026 and 2025	973		973
Common stock, $0.001 par value, 2 billion shares authorized; 778 million shares outstanding at 2026 and 2025	1		1
Additional paid-in capital	47,551		45,614
Retained earnings	5,761		5,056
Accumulated other comprehensive income	171		198
Total Duke Energy Corporation stockholders' equity	54,457		51,842
Noncontrolling interests	2,021		1,177
Total equity	56,478		53,019
Total Liabilities and Equity	$	198,048	$	195,736


DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)

	Three Months Ended March 31,
	2026		2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$	1,577	$	1,404
Adjustments to reconcile net income to net cash provided by operating activities	(65)		773
Net cash provided by operating activities	1,512		2,177

CASH FLOWS FROM INVESTING ACTIVITIES
Net cash used in investing activities	(1,846)		(3,300)

CASH FLOWS FROM FINANCING ACTIVITIES
Net cash provided by financing activities	2,223		1,238



Net increase in cash, cash equivalents and restricted cash	1,889		115
Cash, cash equivalents and restricted cash at beginning of period	363		421
Cash, cash equivalents and restricted cash at end of period	$	2,252	$	536

DUKE ENERGY CORPORATION

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(Unaudited)


	Three Months Ended March 31, 2026
(In millions)	Electric Utilities and Infrastructure		Gas Utilities and Infrastructure		Other		Eliminations/Adjustments		Duke Energy
Operating Revenues
Regulated electric	$	7,817	$	—	$	—	$	(14)	$	7,803
Regulated natural gas	—		1,321		—		(24)		1,297
Nonregulated electric and other	61		12		42		(37)		78
Total operating revenues	7,878		1,333		42		(75)		9,178
Operating Expenses
Fuel used in electric generation and purchased power	2,440		—		—		(21)		2,419
Cost of natural gas	—		525		—		—		525
Operation, maintenance and other	1,709		135		(41)		(51)		1,752
Depreciation and amortization	1,498		115		83		(7)		1,689
Property and other taxes	393		57		2		—		452

Total operating expenses	6,040		832		44		(79)		6,837
Gains on Sales of Other Assets and Other, net	5		374		5		—		384
Operating Income	1,843		875		3		4		2,725
Other Income and Expenses
Equity in earnings of unconsolidated affiliates	—		6		1		—		7
Other income and expenses, net	136		12		8		(23)		133
Total Other Income and Expenses	136		18		9		(23)		140
Interest Expense	571		67		349		(19)		968
Income (Loss) from Continuing Operations before Income Taxes	1,408		826		(337)		—		1,897
Income Tax Expense (Benefit) from Continuing Operations	127		294		(88)		—		333
Income (Loss) from Continuing Operations	1,281		532		(249)		—		1,564
Less: Net Income Attributable to Noncontrolling Interest	27		—		—		—		27
Net Income (Loss) Attributable to Duke Energy Corporation	1,254		532		(249)		—		1,537
Less: Preferred Dividends	—		—		14		—		14

Segment Income/Other Net Loss	$	1,254	$	532	$	(263)	$	—	$	1,523
Discontinued Operations									13
Net Income Available to Duke Energy Corporation Common Stockholders									$	1,536

Segment Income/Other Net Loss	$	1,254	$	532	$	(263)	$	—	$	1,523
Special Items	150		(171)		—		—		(21)
Adjusted Earnings(a)	$	1,404	$	361	$	(263)	$	—	$	1,502

(a) See Reported to Adjusted Earnings Reconciliation for a detailed reconciliation of Segment Income/Other Net Loss to Adjusted Earnings.

DUKE ENERGY CORPORATION

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(Unaudited)


	Three Months Ended March 31, 2025
(In millions)	Electric Utilities and Infrastructure		Gas Utilities and Infrastructure		Other		Eliminations/Adjustments		Duke Energy
Operating Revenues
Regulated electric	$	7,079	$	—	$	—	$	(15)	$	7,064
Regulated natural gas	—		1,129		—		(24)		1,105
Nonregulated electric and other	61		11		42		(34)		80
Total operating revenues	7,140		1,140		42		(73)		8,249
Operating Expenses
Fuel used in electric generation and purchased power	2,119		—		—		(20)		2,099
Cost of natural gas	—		374		—		—		374
Operation, maintenance and other	1,424		125		2		(52)		1,499
Depreciation and amortization	1,334		107		77		(6)		1,512
Property and other taxes	378		47		3		—		428

Total operating expenses	5,255		653		82		(78)		5,912
Gains on Sales of Other Assets and Other, net	1		—		5		—		6
Operating Income (Loss)	1,886		487		(35)		5		2,343
Other Income and Expenses
Equity in earnings of unconsolidated affiliates	—		5		6		—		11
Other income and expenses, net	134		13		14		(29)		132
Total Other Income and Expenses	134		18		20		(29)		143
Interest Expense	530		65		318		(24)		889
Income (Loss) From Continuing Operations Before Income Taxes	1,490		440		(333)		—		1,597
Income Tax Expense (Benefit) from Continuing Operations	189		91		(87)		—		193
Income (Loss) from Continuing Operations	1,301		349		(246)		—		1,404
Less: Net Income Attributable to Noncontrolling Interest	25		—		—		—		25
Net Income (Loss) Attributable to Duke Energy Corporation	1,276		349		(246)		—		1,379
Less: Preferred Dividends	—		—		14		—		14

Segment Income/Other Net Loss	$	1,276	$	349	$	(260)	$	—	$	1,365
Discontinued Operations									—
Net Income Available to Duke Energy Corporation Common Stockholders									$	1,365

DUKE ENERGY CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEETS – ASSETS

(Unaudited)


	March 31, 2026
(In millions)	Electric Utilities and Infrastructure		Gas Utilities and Infrastructure		Other		Eliminations/ Adjustments		Duke Energy
Current Assets
Cash and cash equivalents	$	158	$	16	$	1,966	$	—	$	2,140

Receivables, net	3,559		385		2		1		3,947

Receivables from affiliated companies	181		79		1,334		(1,594)		—
Notes receivable from affiliated companies	87		279		1,083		(1,449)		—
Inventory	4,479		59		35		(1)		4,572
Regulatory assets	1,937		180		85		(1)		2,201

Other	640		19		28		(101)		586
Total current assets	11,041		1,017		4,533		(3,145)		13,446
Property, Plant and Equipment
Cost	174,578		16,758		2,261		(72)		193,525
Accumulated depreciation and amortization	(56,825)		(3,503)		(924)		—		(61,252)

Net property, plant and equipment	117,753		13,255		1,337		(72)		132,273
Other Noncurrent Assets
Goodwill	17,380		1,630		—		—		19,010
Regulatory assets	13,904		688		467		—		15,059
Nuclear decommissioning trust funds	12,644		—		—		—		12,644
Operating lease right-of-use assets, net	702		2		465		—		1,169
Investments in equity method unconsolidated affiliates	1		183		145		(1)		328
Investment in consolidated subsidiaries	563		5		80,005		(80,573)		—

Other	2,586		332		1,825		(624)		4,119
Total other noncurrent assets	47,780		2,840		82,907		(81,198)		52,329
Total Assets	176,574		17,112		88,777		(84,415)		198,048
Segment reclassifications, intercompany balances and other	(1,001)		(367)		(83,047)		84,415		—
Segment Assets	$	175,573	$	16,745	$	5,730	$	—	$	198,048

DUKE ENERGY CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEETS – LIABILITIES AND EQUITY

(Unaudited)


	March 31, 2026
(In millions)	Electric Utilities and Infrastructure		Gas Utilities and Infrastructure		Other		Eliminations/ Adjustments		Duke Energy
Current Liabilities
Accounts payable	$	3,695	$	315	$	722	$	—	$	4,732
Accounts payable to affiliated companies	829		68		565		(1,462)		—
Notes payable to affiliated companies	1,254		23		172		(1,449)		—
Notes payable and commercial paper	—		—		2,373		—		2,373
Taxes accrued	655		583		(399)		—		839
Interest accrued	522		58		237		(1)		816
Current maturities of long-term debt	3,508		57		3,837		(7)		7,395
Asset retirement obligations	574		—		—		—		574
Regulatory liabilities	1,470		84		—		—		1,554

Other	1,597		72		615		(233)		2,051
Total current liabilities	14,104		1,260		8,122		(3,152)		20,334
Long-Term Debt	50,547		4,717		25,278		(65)		80,477
Long-Term Debt Payable to Affiliated Companies	618		7		—		(625)		—
Other Noncurrent Liabilities
Deferred income taxes	12,715		1,391		(1,311)		4		12,799
Asset retirement obligations	8,944		93		—		(1)		9,036
Regulatory liabilities	13,727		1,019		28		—		14,774
Operating lease liabilities	629		1		334		—		964
Accrued pension and other post-retirement benefit costs	(28)		31		381		—		384
Investment tax credits	985		1		—		(1)		985

Other	1,307		116		581		(187)		1,817
Total other noncurrent liabilities	38,279		2,652		13		(185)		40,759
Equity
Total Duke Energy Corporation stockholders' equity	71,007		8,473		55,364		(80,387)		54,457
Noncontrolling interests	2,019		3		—		(1)		2,021
Total equity	73,026		8,476		55,364		(80,388)		56,478
Total Liabilities and Equity	176,574		17,112		88,777		(84,415)		198,048
Segment reclassifications, intercompany balances and other	(1,001)		(367)		(83,047)		84,415		—
Segment Liabilities and Equity	$	175,573	$	16,745	$	5,730	$	—	$	198,048

ELECTRIC UTILITIES AND INFRASTRUCTURE

CONDENSED CONSOLIDATING SEGMENT INCOME

(Unaudited)


	Three Months Ended March 31, 2026
(In millions)	Duke Energy Carolinas		Duke Energy Progress		Duke Energy Florida		Duke Energy Ohio(a)		Duke Energy Indiana		Eliminations/ Other		Electric Utilities and Infrastructure



Operating Revenues	$	2,766	$	2,301	$	1,621	$	562	$	966	$	(338)	$	7,878
Operating Expenses
Fuel used in electric generation and purchased power	931		863		448		173		370		(345)		2,440
Operation, maintenance and other	601		501		319		97		187		4		1,709
Depreciation and amortization	526		386		296		82		205		3		1,498
Property and other taxes	106		59		123		87		19		(1)		393

Total operating expenses	2,164		1,809		1,186		439		781		(339)		6,040
Gains on Sales of Other Assets and Other, net	2		1		2		—		—		—		5
Operating Income	604		493		437		123		185		1		1,843
Other Income and Expenses, net(b)	63		43		15		4		11		—		136
Interest Expense	217		135		127		34		64		(6)		571
Income Before Income Taxes	450		401		325		93		132		7		1,408
Income Tax Expense	14		42		65		16		19		(29)		127

Less: Net Income Attributable to Noncontrolling Interest(c)	—		—		—		—		—		27		27
Segment Income	$	436	$	359	$	260	$	77	$	113	$	9	$	1,254

(a) Includes results of the wholly owned subsidiary, Duke Energy Kentucky.

(b) Includes an equity component of allowance for funds used during construction of $41 million for Duke Energy Carolinas, $27 million for Duke Energy Progress, $3 million for Duke Energy Florida, $3 million for Duke Energy Ohio and $9 million for Duke Energy Indiana.

ELECTRIC UTILITIES AND INFRASTRUCTURE

CONDENSED CONSOLIDATING BALANCE SHEETS – ASSETS

(Unaudited)


	March 31, 2026
(In millions)	Duke Energy Carolinas		Duke Energy Progress		Duke Energy Florida		Duke Energy Ohio(a)		Duke Energy Indiana		Eliminations/ Adjustments(b)		Electric Utilities and Infrastructure
Current Assets
Cash and cash equivalents	$	44	$	63	$	17	$	15	$	18	$	1	$	158

Receivables, net	1,198		967		524		394		469		7		3,559

Receivables from affiliated companies	251		35		47		27		24		(203)		181
Notes receivable from affiliated companies	—		—		—		29		239		(181)		87
Inventory	1,544		1,350		850		185		550		—		4,479

Regulatory assets	752		675		286		28		198		(2)		1,937
Other	256		188		116		1		86		(7)		640
Total current assets	4,045		3,278		1,840		679		1,584		(385)		11,041
Property, Plant and Equipment
Cost	63,715		45,974		33,739		9,568		21,514		68		174,578
Accumulated depreciation and amortization	(20,863)		(17,179)		(8,643)		(2,586)		(7,604)		50		(56,825)

Net property, plant and equipment	42,852		28,795		25,096		6,982		13,910		118		117,753
Other Noncurrent Assets
Goodwill	—		—		—		596		—		16,784		17,380
Regulatory assets	5,177		4,629		2,130		358		1,009		601		13,904
Nuclear decommissioning trust funds	7,213		5,156		275		—		—		—		12,644
Operating lease right-of-use assets, net	92		368		206		5		32		(1)		702
Investments in equity method unconsolidated affiliates	—		—		1		—		—		—		1
Investment in consolidated subsidiaries	56		10		4		493		1		(1)		563

Other	1,336		788		585		70		240		(433)		2,586
Total other noncurrent assets	13,874		10,951		3,201		1,522		1,282		16,950		47,780
Total Assets	60,771		43,024		30,137		9,183		16,776		16,683		176,574
Segment reclassifications, intercompany balances and other	(339)		(140)		(82)		(552)		(272)		384		(1,001)
Reportable Segment Assets	$	60,432	$	42,884	$	30,055	$	8,631	$	16,504	$	17,067	$	175,573

(a) Includes balances of the wholly owned subsidiary Duke Energy Kentucky.

(b) Includes the elimination of intercompany balances, purchase accounting adjustments, and Duke Energy Indiana Holdco, LLC balances.

ELECTRIC UTILITIES AND INFRASTRUCTURE

CONDENSED CONSOLIDATING BALANCE SHEETS – LIABILITIES AND EQUITY

(Unaudited)


	March 31, 2026
(In millions)	Duke Energy Carolinas		Duke Energy Progress		Duke Energy Florida		Duke Energy Ohio(a)		Duke Energy Indiana		Eliminations/ Adjustments(b)		Electric Utilities and Infrastructure
Current Liabilities
Accounts payable	$	1,539	$	962	$	639	$	201	$	348	$	6	$	3,695
Accounts payable to affiliated companies	353		370		139		18		90		(141)		829
Notes payable to affiliated companies	638		644		107		46		—		(181)		1,254

Taxes accrued	124		66		99		289		108		(31)		655
Interest accrued	163		91		142		44		81		1		522
Current maturities of long-term debt	1,649		793		1,087		(17)		4		(8)		3,508

Asset retirement obligations	242		186		2		6		138		—		574
Regulatory liabilities	660		356		152		43		259		—		1,470
Other	634		342		337		70		218		(4)		1,597
Total current liabilities	6,002		3,810		2,704		700		1,246		(358)		14,104
Long-Term Debt	17,839		12,917		10,465		3,492		5,436		398		50,547
Long-Term Debt Payable to Affiliated Companies	300		150		—		18		150		—		618
Other Noncurrent Liabilities
Deferred income taxes	4,327		2,786		3,121		888		1,537		56		12,715
Asset retirement obligations	3,598		4,113		180		62		979		12		8,944
Regulatory liabilities	7,333		4,245		775		237		1,164		(27)		13,727
Operating lease liabilities	79		366		154		4		26		—		629
Accrued pension and other post-retirement benefit costs	23		138		86		65		76		(416)		(28)
Investment tax credits	353		197		248		5		182		—		985

Other	750		338		162		56		13		(12)		1,307
Total other noncurrent liabilities	16,463		12,183		4,726		1,317		3,977		(387)		38,279



Equity
Total Duke Energy Corporation stockholders equity	20,167		13,964		12,242		3,656		5,967		15,011		71,007
Noncontrolling interests(c)	—		—		—		—		—		2,019		2,019
Total equity	20,167		13,964		12,242		3,656		5,967		17,030		73,026
Total Liabilities and Equity	60,771		43,024		30,137		9,183		16,776		16,683		176,574
Segment reclassifications, intercompany balances and other	(339)		(140)		(82)		(552)		(272)		384		(1,001)
Reportable Segment Liabilities and Equity	$	60,432	$	42,884	$	30,055	$	8,631	$	16,504	$	17,067	$	175,573

(a) Includes balances of the wholly owned subsidiary Duke Energy Kentucky.

(b) Includes the elimination of intercompany balances, purchase accounting adjustments and Duke Energy Indiana Holdco, LLC balances.

GAS UTILITIES AND INFRASTRUCTURE

CONDENSED CONSOLIDATING SEGMENT INCOME

(Unaudited)


	Three Months Ended March 31, 2026
(In millions)	Duke Energy Ohio(a)		Piedmont Natural Gas LDC		Midstream Pipelines and Storage(b)		Eliminations/ Adjustments		Gas Utilities and Infrastructure



Operating Revenues	$	317	$	1,011	$	5	$	—	$	1,333
Operating Expenses
Cost of natural gas	121		404		—		—		525
Operation, maintenance and other	40		93		—		2		135
Depreciation and amortization	39		74		3		(1)		115
Property and other taxes	30		26		2		(1)		57

Total operating expenses	230		597		5		—		832
Gains on Sales of Other Assets and Other, net(c)	—		652		6		(284)		374
Operating Income	87		1,066		6		(284)		875
Other Income and Expenses, net
Equity in earnings of unconsolidated affiliates	—		—		6		—		6
Other income and expenses, net	1		10		—		1		12
Other Income and Expenses, net	1		10		6		1		18
Interest Expense	18		48		1		—		67
Income Before Income Taxes	70		1,028		11		(283)		826
Income Tax Expense	15		258		20		1		294
Segment Income	$	55	$	770	$	(9)	$	(284)	$	532

(a) Includes results of the wholly owned subsidiary Duke Energy Kentucky.

(b) Includes earnings from investments in Sabal Trail and Cardinal pipelines, as well as Hardy and Pine Needle storage facilities.

(c) The gain on sale is $284 million lower at the Gas Utilities and Infrastructure segment level due to higher allocated goodwill related to the Piedmont Tennessee Disposal Group than at Piedmont Natural Gas LDC.

GAS UTILITIES AND INFRASTRUCTURE

CONDENSED CONSOLIDATING BALANCE SHEETS – ASSETS

(Unaudited)


	March 31, 2026
(In millions)	Duke Energy Ohio(a)		Piedmont Natural Gas LDC		Midstream Pipelines and Storage		Eliminations/ Adjustments(b)		Gas Utilities and Infrastructure
Current Assets
Cash and cash equivalents	$	6	$	5	$	4	$	1	$	16

Receivables, net	75		310		—		—		385

Receivables from affiliated companies	—		84		90		(95)		79
Notes receivable from affiliated companies	16		266		—		(3)		279
Inventory	14		45		—		—		59
Regulatory assets	94		85		—		1		180

Other	8		10		4		(3)		19
Total current assets	213		805		98		(99)		1,017
Property, Plant and Equipment
Cost	5,202		11,481		75		—		16,758
Accumulated depreciation and amortization	(1,271)		(2,217)		(15)		—		(3,503)

Net property, plant and equipment	3,931		9,264		60		—		13,255
Other Noncurrent Assets
Goodwill	324		39		—		1,267		1,630
Regulatory assets	328		306		—		54		688
Operating lease right-of-use assets, net	—		2		—		—		2
Investments in equity method unconsolidated affiliates	—		—		178		5		183
Investment in consolidated subsidiaries	—		—		—		5		5

Other	31		284		16		1		332
Total other noncurrent assets	683		631		194		1,332		2,840
Total Assets	4,827		10,700		352		1,233		17,112
Segment reclassifications, intercompany balances and other	(18)		(354)		(119)		124		(367)
Reportable Segment Assets	$	4,809	$	10,346	$	233	$	1,357	$	16,745

(a) Includes balances of the wholly owned subsidiary Duke Energy Kentucky.

(b) Includes the elimination of intercompany balances and purchase accounting adjustments.

GAS UTILITIES AND INFRASTRUCTURE

CONDENSED CONSOLIDATING BALANCE SHEETS – LIABILITIES AND EQUITY

(Unaudited)


	March 31, 2026
(In millions)	Duke Energy Ohio(a)		Piedmont Natural Gas LDC		Midstream Pipelines and Storage		Eliminations/ Adjustments(b)		Gas Utilities and Infrastructure
Current Liabilities
Accounts payable	$	71	$	234	$	9	$	1	$	315
Accounts payable to affiliated companies	3		146		14		(95)		68
Notes payable to affiliated companies	27		—		—		(4)		23

Taxes accrued	39		526		18		—		583
Interest accrued	10		48		—		—		58
Current maturities of long-term debt	17		40		—		—		57

Regulatory liabilities	36		48		—		—		84

Other	4		67		—		1		72
Total current liabilities	207		1,109		41		(97)		1,260
Long-Term Debt	859		3,761		55		42		4,717
Long-Term Debt Payable to Affiliated Companies	7		—		—		—		7
Other Noncurrent Liabilities
Deferred income taxes	475		864		51		1		1,391
Asset retirement obligations	67		26		—		—		93
Regulatory liabilities	228		780		—		11		1,019
Operating lease liabilities	—		1		—		—		1
Accrued pension and other post-retirement benefit costs	24		6		—		1		31
Investment tax credits	—		1		—		—		1

Other	31		85		—		—		116
Total other noncurrent liabilities	825		1,763		51		13		2,652
Equity
Total Duke Energy Corporation stockholders' equity	2,929		4,067		202		1,275		8,473
Noncontrolling interests	—		—		3		—		3
Total equity	2,929		4,067		205		1,275		8,476
Total Liabilities and Equity	4,827		10,700		352		1,233		17,112
Segment reclassifications, intercompany balances and other	(18)		(354)		(119)		124		(367)
Reportable Segment Liabilities and Equity	$	4,809	$	10,346	$	233	$	1,357	$	16,745

(a) Includes balances of the wholly owned subsidiary Duke Energy Kentucky.

(b) Includes the elimination of intercompany balances and purchase accounting adjustments.


Electric Utilities and Infrastructure
Quarterly Highlights
March 2026

		Three Months Ended March 31,
			2026	2025	% Inc. (Dec.)		% Inc. (Dec.) Weather Normal(b)
Gigawatt-hour (GWh) Sales(a)
	Residential		25,405	25,225	0.7	%	(0.9	%)
	Commercial		19,071	18,902	0.9	%	1.2	%
	Industrial		10,738	10,964	(2.1	%)	(2.4	%)
	Other Energy Sales		130	116	12.1	%	n/a
	Unbilled Sales		(1,675)	(1,816)	7.8	%	n/a
	Total Retail Sales		53,669	53,391	0.5	%	(0.5	%)
	Wholesale and Other		11,785	11,851	(0.6	%)
	Total Consolidated Electric Sales – Electric Utilities and Infrastructure		65,454	65,242	0.3	%

Average Number of Customers (Electric)
	Residential		7,616,258	7,498,119	1.6	%
	Commercial		1,050,836	1,045,224	0.5	%
	Industrial		14,795	15,305	(3.3	%)
	Other Energy Sales		22,757	23,202	(1.9	%)
	Total Retail Customers		8,704,646	8,581,850	1.4	%
	Wholesale and Other		54	52	3.8	%
	Total Average Number of Customers – Electric Utilities and Infrastructure		8,704,700	8,581,902	1.4	%

Sources of Electric Energy (GWh)
	Generated – Net Output(c)
	Coal		11,781	11,347	3.8	%
	Nuclear		18,506	18,926	(2.2	%)
	Hydro		290	446	(35.0	%)
	Natural Gas and Oil		21,765	21,553	1.0	%
	Renewable Energy		985	841	17.1	%
	Total Generation(d)		53,327	53,113	0.4	%
	Purchased Power and Net Interchange(e)		15,239	14,952	1.9	%
	Total Sources of Energy		68,566	68,065	0.7	%
	Less: Line Loss and Other		3,112	2,823	10.2	%
	Total GWh Sources		65,454	65,242	0.3	%

Owned Megawatt (MW) Capacity(c)(f)
	Summer		51,989	50,562
	Winter		55,757	55,139
Nuclear Capacity Factor (%)(g)			97	99

(a) Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes.

(b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).

(d) Generation by source is reported net of auxiliary power.

(e) Purchased power includes renewable energy purchases.

(f) Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.

(g) Statistics reflect 100% of jointly owned stations.


Duke Energy Carolinas
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
March 2026

		Three Months Ended March 31,
			2026		2025		% Inc. (Dec.)		% Inc. (Dec.) Weather Normal(b)
GWh Sales(a)
	Residential		9,082		9,138		(0.6	%)
	Commercial		7,334		7,390		(0.8	%)
	Industrial		4,506		4,554		(1.1	%)
	Other Energy Sales		69		56		23.2	%
	Unbilled Sales		(615)		(730)		15.8	%
	Total Retail Sales		20,376		20,408		(0.2	%)	(0.6	%)
	Wholesale and Other		3,204		3,150		1.7	%
	Total Consolidated Electric Sales – Duke Energy Carolinas		23,580		23,558		0.1	%

Average Number of Customers
	Residential		2,575,950		2,524,566		2.0	%
	Commercial		403,006		401,939		0.3	%
	Industrial		5,750		5,895		(2.5	%)
	Other Energy Sales		10,700		10,836		(1.3	%)
	Total Retail Customers		2,995,406		2,943,236		1.8	%
	Wholesale and Other		26		26		—	%
	Total Average Number of Customers – Duke Energy Carolinas		2,995,432		2,943,262		1.8	%

Sources of Electric Energy (GWh)
	Generated – Net Output(c)
	Coal		2,931		3,285		(10.8	%)
	Nuclear		11,407		11,789		(3.2	%)
	Hydro		126		251		(49.8	%)
	Natural Gas and Oil		6,451		5,880		9.7	%
	Renewable Energy		59		57		3.5	%
	Total Generation(d)		20,974		21,262		(1.4	%)
	Purchased Power and Net Interchange(e)		3,754		3,238		15.9	%
	Total Sources of Energy		24,728		24,500		0.9	%
	Less: Line Loss and Other		1,148		942		21.9	%
	Total GWh Sources		23,580		23,558		0.1	%

Owned MW Capacity(c)(f)
	Summer		19,858		19,698
	Winter		20,946		20,773
Nuclear Capacity Factor (%)(g)			99		102

Heating and Cooling Degree Days
	Actual
	Heating Degree Days		1,597		1,643		(2.8	%)
	Cooling Degree Days		46		8		475.0	%

	Variance from Normal
	Heating Degree Days		(5.1	%)	(3.2	%)
	Cooling Degree Days		468.5	%	(2.4	%)

(b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).

(d) Generation by source is reported net of auxiliary power.

(e) Purchased power includes renewable energy purchases.

(f) Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.

(g) Statistics reflect 100% of jointly owned stations.


Duke Energy Progress
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
March 2026

		Three Months Ended March 31,
			2026		2025		% Inc. (Dec.)		% Inc. (Dec.) Weather Normal(b)
GWh Sales(a)
	Residential		5,926		5,880		0.8	%
	Commercial		3,799		3,740		1.6	%
	Industrial		2,192		2,457		(10.8	%)
	Other Energy Sales		21		21		—	%
	Unbilled Sales		(495)		(747)		33.7	%
	Total Retail Sales		11,443		11,351		0.8	%	(1.0	%)
	Wholesale and Other		6,844		6,834		0.1	%
	Total Consolidated Electric Sales – Duke Energy Progress		18,287		18,185		0.6	%

Average Number of Customers
	Residential		1,545,119		1,518,693		1.7	%
	Commercial		249,489		248,333		0.5	%
	Industrial		2,973		3,072		(3.2	%)
	Other Energy Sales		2,368		2,406		(1.6	%)
	Total Retail Customers		1,799,949		1,772,504		1.5	%
	Wholesale and Other		8		8		—	%
	Total Average Number of Customers – Duke Energy Progress		1,799,957		1,772,512		1.5	%

Sources of Electric Energy (GWh)
	Generated – Net Output(c)
	Coal		2,015		2,276		(11.5	%)
	Nuclear		7,099		7,137		(0.5	%)
	Hydro		119		138		(13.8	%)
	Natural Gas and Oil		6,941		6,519		6.5	%
	Renewable Energy		60		50		20.0	%
	Total Generation(d)		16,234		16,120		0.7	%
	Purchased Power and Net Interchange(e)		2,295		2,492		(7.9	%)
	Total Sources of Energy		18,529		18,612		(0.4	%)
	Less: Line Loss and Other		242		427		(43.3	%)
	Total GWh Sources		18,287		18,185		0.6	%

Owned MW Capacity(c)(f)
	Summer		12,865		12,585
	Winter		14,067		13,845
Nuclear Capacity Factor (%)(g)			92		92

Heating and Cooling Degree Days
	Actual
	Heating Degree Days		1,545		1,523		1.4	%
	Cooling Degree Days		53		15		253.3	%

	Variance from Normal
	Heating Degree Days		(0.4	%)	(2.6	%)
	Cooling Degree Days		302.5	%	14.9	%

(b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).

(d) Generation by source is reported net of auxiliary power.

(e) Purchased power includes renewable energy purchases.

(f) Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.

(g) Statistics reflect 100% of jointly owned stations.


Duke Energy Florida
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
March 2026

		Three Months Ended March 31,
			2026		2025		% Inc. (Dec.)		% Inc. (Dec.) Weather Normal(b)
GWh Sales(a)
	Residential		4,789		4,618		3.7	%
	Commercial		3,433		3,402		0.9	%
	Industrial		774		783		(1.1	%)
	Other Energy Sales		7		7		—	%
	Unbilled Sales		(40)		(125)		68.0	%
	Total Retail Sales		8,963		8,685		3.2	%	0.1	%
	Wholesale and Other		353		383		(7.8	%)
	Total Electric Sales – Duke Energy Florida		9,316		9,068		2.7	%

Average Number of Customers
	Residential		1,837,440		1,811,645		1.4	%
	Commercial		214,245		211,835		1.1	%
	Industrial		1,519		1,616		(6.0	%)
	Other Energy Sales		3,497		3,562		(1.8	%)
	Total Retail Customers		2,056,701		2,028,658		1.4	%
	Wholesale and Other		15		13		15.4	%
	Total Average Number of Customers – Duke Energy Florida		2,056,716		2,028,671		1.4	%

Sources of Electric Energy (GWh)
	Generated – Net Output(c)
	Coal		1,488		454		227.8	%


	Natural Gas and Oil		7,029		8,004		(12.2	%)
	Renewable Energy		860		729		18.0	%
	Total Generation(d)		9,377		9,187		2.1	%
	Purchased Power and Net Interchange(e)		245		108		126.9	%
	Total Sources of Energy		9,622		9,295		3.5	%
	Less: Line Loss and Other		306		227		34.8	%
	Total GWh Sources		9,316		9,068		2.7	%

Owned MW Capacity(c)(f)
	Summer		11,854		10,895
	Winter		12,765		12,542

Heating and Cooling Degree Days
	Actual
	Heating Degree Days		416		359		15.9	%
	Cooling Degree Days		267		215		24.2	%

	Variance from Normal
	Heating Degree Days		12.0	%	(1.8	%)
	Cooling Degree Days		31.3	%	1.6	%

(b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).

(d) Generation by source is reported net of auxiliary power.

(e) Purchased power includes renewable energy purchases.

(f) Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.


Duke Energy Ohio
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
March 2026

		Three Months Ended March 31,
			2026		2025		% Inc. (Dec.)		% Inc. (Dec.) Weather Normal(b)
GWh Sales(a)
	Residential		2,713		2,672		1.5	%
	Commercial		2,400		2,329		3.0	%
	Industrial		1,111		1,096		1.4	%
	Other Energy Sales		21		19		10.5	%
	Unbilled Sales		(200)		(121)		(65.3	%)
	Total Retail Sales		6,045		5,995		0.8	%	0.7	%
	Wholesale and Other		266		112		137.5	%
	Total Electric Sales – Duke Energy Ohio		6,311		6,107		3.3	%

Average Number of Customers
	Residential		842,841		837,876		0.6	%
	Commercial		76,626		76,514		0.1	%
	Industrial		1,970		2,101		(6.2	%)
	Other Energy Sales		2,564		2,652		(3.3	%)
	Total Retail Customers		924,001		919,143		0.5	%
	Wholesale and Other		1		1		—	%
	Total Average Number of Customers – Duke Energy Ohio		924,002		919,144		0.5	%

Sources of Electric Energy (GWh)
	Generated – Net Output(c)
	Coal		900		779		15.5	%


	Natural Gas and Oil		103		37		178.4	%

	Total Generation(d)		1,004		816		23.0	%
	Purchased Power and Net Interchange(e)		5,907		6,046		(2.3	%)
	Total Sources of Energy		6,911		6,862		0.7	%
	Less: Line Loss and Other		600		755		(20.5	%)
	Total GWh Sources		6,311		6,107		3.3	%

Owned MW Capacity(c)(f)
	Summer		1,085		1,080
	Winter		1,173		1,173

Heating and Cooling Degree Days
	Actual
	Heating Degree Days		2,462		2,563		(3.9	%)
	Cooling Degree Days		20		7		185.7	%

	Variance from Normal
	Heating Degree Days		(3.4	%)	0.6	%
	Cooling Degree Days		590.1	%	142.5	%

(b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).

(d) Generation by source is reported net of auxiliary power.

(e) Purchased power includes renewable energy purchases.

(f) Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.


Duke Energy Indiana
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
March 2026

		Three Months Ended March 31,
			2026		2025		% Inc. (Dec.)		% Inc. (Dec.) Weather Normal(b)
GWh Sales(a)
	Residential		2,895		2,917		(0.8	%)
	Commercial		2,105		2,041		3.1	%
	Industrial		2,155		2,074		3.9	%
	Other Energy Sales		12		13		(7.7	%)
	Unbilled Sales		(325)		(93)		(249.5	%)
	Total Retail Sales		6,842		6,952		(1.6	%)	(1.0	%)
	Wholesale and Other		1,118		1,372		(18.5	%)
	Total Electric Sales – Duke Energy Indiana		7,960		8,324		(4.4	%)

Average Number of Customers
	Residential		814,908		805,339		1.2	%
	Commercial		107,470		106,603		0.8	%
	Industrial		2,583		2,621		(1.4	%)
	Other Energy Sales		3,628		3,746		(3.2	%)
	Total Retail Customers		928,589		918,309		1.1	%
	Wholesale and Other		4		4		—	%
	Total Average Number of Customers – Duke Energy Indiana		928,593		918,313		1.1	%

Sources of Electric Energy (GWh)
	Generated – Net Output(c)
	Coal		4,447		4,553		(2.3	%)

	Hydro		45		57		(21.1	%)
	Natural Gas and Oil		1,241		1,113		11.5	%
	Renewable Energy		5		5		—	%
	Total Generation(d)		5,738		5,728		0.2	%
	Purchased Power and Net Interchange(e)		3,038		3,068		(1.0	%)
	Total Sources of Energy		8,776		8,796		(0.2	%)
	Less: Line Loss and Other		816		472		72.9	%
	Total GWh Sources		7,960		8,324		(4.4	%)

Owned MW Capacity(c)(f)
	Summer		6,327		6,304
	Winter		6,806		6,806

Heating and Cooling Degree Days
	Actual
	Heating Degree Days		2,579		2,731		(5.6	%)
	Cooling Degree Days		16		2		700.0	%

	Variance from Normal
	Heating Degree Days		(6.8	%)	(0.5	%)
	Cooling Degree Days		532.7	%	(10.9	%)

(b) Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).

(d) Generation by source is reported net of auxiliary power.

(e) Purchased power includes renewable energy purchases.

(f) Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.


Gas Utilities and Infrastructure
Quarterly Highlights
March 2026

		Three Months Ended March 31,
			2026	2025	% Inc. (Dec.)
Total Sales
	Piedmont Natural Gas Local Distribution Company (LDC) throughput (dekatherms)(a)		184,175,397	181,459,847	1.5	%
	Duke Energy Midwest LDC throughput (Mcf)(a)		36,902,590	40,455,684	(8.8	%)

Average Number of Customers – Piedmont Natural Gas
	Residential		1,035,404	1,092,898	(5.3	%)
	Commercial		105,098	109,848	(4.3	%)
	Industrial		872	945	(7.7	%)
	Power Generation		19	19	—	%
	Total Average Number of Gas Customers – Piedmont Natural Gas		1,141,393	1,203,710	(5.2	%)

Average Number of Customers – Duke Energy Midwest
	Residential		528,525	526,598	0.4	%
	Commercial		35,770	35,285	1.4	%
	Industrial		2,007	2,334	(14.0	%)
	Other		114	117	(2.6	%)
	Total Average Number of Gas Customers – Duke Energy Midwest		566,416	564,334	0.4	%

(a) Piedmont has a margin decoupling mechanism in North Carolina, weather normalization mechanisms in South Carolina and Tennessee and fixed-price contracts with most power generation customers that significantly eliminate the impact of throughput changes on earnings. Duke Energy Ohio's rate design also serves to offset this impact. On March 31, 2026, Piedmont closed on the sale of its Tennessee business.