Each year, our customers' needs evolve and these changes present tremendous opportunities. To manage change and realize the opportunity, it's essential that our team is comprised of smart, dedicated and adaptable people. People who believe in our mission to power life today and for future generations.

In 2025, Entergy's more than 12,000 employees once again proved how to grow, adapt and lead for the benefit of our stakeholders, while staying true to who we are. In this report, you'll find many examples of how, together, we are building an exciting future for our customers, employees, communities and owners.

Growing with purpose

The scale of our growth this year has been nothing short of unprecedented. We added electric service agreements totaling more than 3.3 gigawatts in 2025. From 2025 to 2026, construction started on six new generation facilities, and we received regulatory approval on four new sites. We also submitted an additional seven planned facilities to regulators all to help support historic economic expansion across the region we serve.

We are growing with purpose by facilitating economic development that produces well-paying jobs, expanded and improved infrastructure, and transformative economic advantages and opportunities for our communities. This growth helps manage risk for our existing customers and brings new revenues to the local and state governments that educate our children, secure our communities and help us protect the environment.

Entergy's competitive rates and comparatively low emissions continue to produce industrial sales growth unlike anything in the country. Additionally, the broader Gulf South's low cost of energy, abundant energy transportation, supportive communities and access to global markets through our ports create a powerful force for economic development in our region.

All customers benefit when we gain hyperscale customers like Google, Meta and Amazon Web Services who are helping pay for the incremental costs of developing more and better power generation and delivery equipment. These new customers are also providing direct benefits to our existing customers through support of storm response, resilience, overhead and other costs. In addition, they indirectly support our existing customers through additional infrastructure investment such as upgraded substations and transmission lines, the improved fuel efficiency of our newest natural gas plants compared with legacy plants and more capacity for economic growth.

We plan to invest $43 billion in generation, transmission and distribution from 2026 through 2029. Our strong capital plan will serve all our customers, both large and small, boost the resilience, reliability and efficiency of our system, and help us prepare for further business investment while maintaining our cost competitiveness.

Entergy is leading the way not just in the energy industry, but in the business community at large.

We engage with our stakeholders

In support of economic growth, during the year we deepened our engagement with the people and communities we serve. Our economic development, customer service and operations teams worked alongside public officials and customers in those communities so that we understood what they needed to thrive, and they knew what we are doing and why.

Our partnership and support of Super Bowl LIX in February 2025 helped make it the second most financially impactful Super Bowl of all time, accounting for an estimated $1.25 billion in economic activity for Louisiana. That partnership with the New Orleans Super Bowl LIX Host Committee focused on our

initiatives to improve customer and community experiences through resiliency and grid hardening projects, philanthropy, volunteerism and advocacy.

The past year had moments of sadness and challenges that brought out the best in our employees. In the first hours of 2025, a deadly terrorist attack shocked our corporate hometown of New Orleans. I was proud of the way our employees responded to honor the victims and to continue working safely to power life for the people who depend on us. Later in January, frigid temperatures and a record-tying snowfall in New Orleans reminded us that, even in a year when our area was spared devastating hurricanes, we must always be prepared to not only respond, but to also care for our neighbors.

In August, we marked the 20th anniversary of our company's most challenging event: the impact of hurricanes Katrina and Rita and their life-changing effects on our customers and employees. You can read about our employees' heroic response, the real-life stories that reflected the power and resilience of the human spirit and what determined people coming together can achieve. Even now, some of the lessons learned from those storms and the progress they inspired are guiding our efforts to build a more resilient and reliable grid for the future.

While the tropical weather season was relatively mild across our service region, our employees continued to make progress on our resilience investments along the coast in Texas and Louisiana. Our employees also maintained their reputation as the best in the business at storm response. They most recently earned an Edison Electric Institute Emergency Response Award for assisting our neighbors in restoration efforts following hurricanes Helene and Milton in fall 2024.

Focused on affordability while building a more resilient grid

Our employees know that approximately 25% of our 3 million residential customers live below the poverty line while many more are just above that level and still struggle to pay bills. That difficult reality drives every business decision we make. For example, it makes our ongoing investments in grid resilience ever more critical, as this population feels the effects of outages even more keenly than most.

Every customer's needs are different. Our customized bill payment solutions let customers choose manageable monthly payments, and additional options are available for those in most need. Customers can also save energy and money through energy efficiency programs and resources designed to support individual needs. It's our job to deliver the energy our communities can count on — 24 hours a day, 365 days a year. And, we're building an energy grid that's reliable, resilient, and ready for today and for the future.

Economic growth in our service area is driving electricity demand well beyond previous expectations. Ensuring a reliable and affordable grid for all customers means, in the near term, we must build some new generation that is cleaner and more efficient but not carbon-free. The long-term reduction of greenhouse gas emissions from our operations remains a priority for us, but the path forward may look different. Our clean energy and carbon-reducing initiatives will be customer-driven, and we're actively working with our largest customers and other partners to deliver increasingly clean energy.

We're continuing to achieve these great things while maintaining our financial health as a company. Entergy's 2025 adjusted earnings per share of $3.91 was the result of an important year in Entergy's growth story. We again delivered solid financial results, and we continued to show that our customer-first strategy creates significant value for all stakeholders.

We'll continue the work

Thank you for reading about our progress on this transformational journey for Entergy and our stakeholders. We're grateful for our close partnerships with organizations and leaders throughout our region, and for the support of our owners as we work to create sustainable value for customers.

This was a year of continued growth, meaningful progress and ongoing transformation — none of it is possible without our employees' dedication, resilience and belief in our mission.

Drew Marsh
Chair of the Board and Chief Executive Officer