EXELON CORP

12. Shareholders' Equity (Exelon)

At-the-Market Program

On August 4, 2022, Exelon executed an equity distribution agreement (“Equity Distribution Agreement”), with certain sales agents and forward sellers and certain forward purchasers, establishing an ATM equity distribution program under which it may offer and sell shares of its Common stock, having an aggregate gross sales price of up to $1.0 billion. Exelon has no obligation to offer or sell any shares of Common stock under the Equity Distribution Agreement and may, at any time, suspend or terminate offers and sales under the Equity Distribution Agreement. In the fourth quarter 2023, Exelon issued approximately 3.6 million shares of Common stock at an average gross price of $39.58 per share. In the third quarter 2024, Exelon issued approximately 4.0 million shares of Common Stock at an average gross price of $37.60 per share. The net proceeds from the fourth quarter 2023 and third quarter 2024 issuances were $140 million and $147 million, respectively, which were used for general corporate purposes. As of September 30, 2024, $708 million of Common stock remained available for sale pursuant to the ATM program.