DOMINION ENERGY, INC

Previous wording

Changes in operating, maintenance and construction costs;

Current wording

Changes in operating, maintenance or construction costs;

Previous wording

Impacts of acquisitions, divestitures, transfers of assets to joint ventures and retirements of assets based on asset portfolio reviews;

Current wording

Impacts of acquisitions, divestitures, transfers of assets to joint ventures or retirements of assets based on asset portfolio reviews;

Previous wording

Additionally, other risks that may cause actual results to differ materially from predicted results are set forth in Part I. Item 1A. Risk Factors in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025.

Current wording

Additionally, other risks that may cause actual results to differ materially from predicted results are set forth in Part I. Item 1A. Risk Factors in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025 and Part II Item 1A. Risk Factors in this report.

Previous wording

Net income attributable to Dominion Energy decreased 7%, primarily due to an increase in interest on long-term debt, increased unrealized losses on economic hedging activities and an impairment charge associated with certain nonregulated solar generation facilities. These decreases were partially offset by higher rider equity returns reflecting capital investments at Virginia Power, the impacts of the 2025 Biennial Review at Virginia Power and a reduction in costs not expected to be recovered from customers on the CVOW Commercial Project.

Current wording

Net income attributable to Dominion Energy decreased 55%, primarily due to an impairment charge associated with nonregulated renewable natural gas facilities, increased unrealized losses on economic hedging activities and higher interest on long-term debt. These decreases were partially offset by a benefit related to the revision of AROs for Millstone Unit 1, an increase in net investment earnings on nuclear decommissioning trust funds, higher rider equity returns reflecting capital investments at Virginia Power and the impacts of the 2025 Biennial Review at Virginia Power.

Previous wording

A $558 million net increase in fuel-related revenue as a result of an increase in commodity costs associated with sales to electric utility retail customers, including revenue for the deferred fuel securitization and electric utility customers who elect to pay market based or other negotiated rates and related settlements of economic hedges at Virginia Power;

Current wording

A $312 million net increase in fuel-related revenue as a result of an increase in commodity costs associated with sales to electric utility retail customers, including revenue for the deferred fuel securitization and electric utility customers who elect to pay market based or other negotiated rates and related settlements of economic hedges at Virginia Power;

Previous wording

A $257 million increase to recover the costs and an authorized return, as applicable, associated with Virginia Power non-fuel riders;

Current wording

A $217 million increase to recover the costs and an authorized return, as applicable, associated with Virginia Power non-fuel riders;

Previous wording

Other operations and maintenance increased 10%, primarily due to renewable natural gas projects placed in service in late 2025 ($30 million), an increase in salaries, wages and benefits ($22 million) and an increase in certain Virginia Power expenditures which are primarily recovered through state- and FERC-regulated rates and do not impact net income ($20 million), partially offset by a decrease in storm damage and restoration costs ($13 million).

Current wording

Other operations and maintenance increased 11%, primarily due to renewable natural gas projects placed in service in late 2025 ($27 million), an increase in salaries, wages and benefits ($25 million) and an increase in outside services ($16 million).

Previous wording

Depreciation and amortization increased 6%, primarily due to various projects being placed into service.

Current wording

Depreciation and amortization increased 6%, primarily due to various projects being placed into service ($46 million), partially offset by a decrease in amortization associated with non-fuel riders ($15 million), which is offset in operating revenue and does not impact net income.

Previous wording

$16 million in sales of renewable natural gas and related environmental credits.

Current wording

$34 million in sales of renewable natural gas and related environmental credits;

Previous wording

A $42 million net increase in sales to electric utility retail customers, primarily due to an increase in heating degree days during the heating season;

Current wording

A $32 million net increase in sales to electric utility retail customers, primarily due to an increase in heating degree days during the heating season ($42 million), partially offset by a decrease in cooling degree days during the cooling season ($10 million);

Previous wording

A $26 million increase attributable to sales at Millstone in the day-ahead energy market; and

Current wording

A $22 million increase attributable to sales at Millstone in the day-ahead energy market; and

Previous wording

A $65 million net decrease associated with market prices affecting Millstone, including economic hedging impacts of net realized and unrealized losses on freestanding derivatives ($92 million); and

Current wording

A $167 million net decrease associated with market prices affecting Millstone, including economic hedging impacts of net realized and unrealized losses on freestanding derivatives ($202 million); and

Previous wording

A $57 million decrease associated with severe weather events affecting Virginia Power.

Current wording

A $55 million decrease associated with severe weather events affecting Virginia Power.

Previous wording

Purchased electric capacity increased $58 million, primarily due to returning to PJM’s capacity market in June 2025 ($36 million), an increase in annual capacity prices ($10 million) and an increase in expense due to the deferral of non-fuel rider costs ($10 million), which is offset in operating revenue and does not impact net income.

Current wording

Purchased electric capacity increased $122 million, primarily due to returning to PJM’s capacity market in June 2025 ($59 million), an increase related to the 2026 PJM capacity market ($20 million) and an increase due to the deferral of non-fuel rider costs ($17 million), which is offset in operating revenue and does not impact net income.

Previous wording

Impairment of assets and other charges decreased $81 million, primarily due to a benefit in 2026 compared to a charge in 2025 for costs not expected to be recovered from customers on 100% of the CVOW Commercial Project ($162 million), partially offset by a charge associated with certain nonregulated solar generation facilities ($78 million).

Current wording

Impairment of assets and other charges increased $763 million, primarily due to a charge associated with nonregulated renewable natural gas facilities ($820 million), charges associated with certain nonregulated solar generation facilities ($78 million), an increase in net charges for costs not expected to be recovered from customers on 100% of the CVOW Commercial Project ($33 million) and the disallowance of certain strategic undergrounding costs ($23 million), partially offset by a benefit related to the revision of AROs for Millstone Unit 1 ($195 million).

Previous wording

Interest and related charges increased 17%, primarily due to an increase in net issuances of long-term debt ($96 million), partially offset by decreased interest expense associated with rider deferrals ($20 million), which is offset in operating revenue and does not impact net income.

Current wording

Interest and related charges increased 13%, primarily due to net issuances of long-term debt ($189 million) and an increase in the outstanding balance on variable rate debt ($25 million), partially offset by net unrealized gains in 2026 compared to net unrealized losses in 2025 associated with freestanding derivatives ($58 million) and decreased interest expense associated with rider deferrals ($23 million), which is offset in operating revenue and does not impact net income.

Previous wording

Income tax expense increased 20%, primarily due to the absence of a benefit associated with the remeasurement of an uncertain tax position.

Current wording

Income tax expense decreased 35%, primarily due to lower pre-tax income ($119 million), partially offset by higher taxes on earnings within qualified decommissioning trusts ($21 million) and the absence of a benefit associated with the remeasurement of an uncertain tax position ($18 million).

Previous wording

Noncontrolling interests increased $118 million, due to an increase in earnings associated with the CVOW Commercial Project, including a decrease in charges for costs not expected to be recovered.

Current wording

Noncontrolling interests increased 53%, due to an increase in earnings associated with the CVOW Commercial Project, which includes the share of increased charges for costs not expected to be recovered from customers.

Previous wording

Net income increased 28%, primarily due to higher rider equity returns reflecting capital investments, the impacts of the 2025 Biennial Review and a reduction in costs not expected to be recovered from customers on the CVOW Commercial Project.

Current wording

Net income increased 12%, primarily due to higher rider equity returns reflecting capital investments and the impacts of the 2025 Biennial Review.

Previous wording

Income tax expense increased 61%, primarily due to higher pre-tax income.

Current wording

Income tax expense increased 34%, primarily due to higher pre-tax income.

Previous wording

A $43 million increase in sales to electric utility retail customers, primarily due to an increase in heating degree days during the heating season; and

Current wording

A $38 million net increase in sales to electric utility retail customers, primarily due to an increase in heating degree days during the heating season ($43 million), partially offset by a decrease in cooling degree days during the cooling season ($5 million);

Previous wording

A $57 million decrease associated with severe weather events.

Current wording

A $55 million decrease associated with severe weather events.

Previous wording

Other operations and maintenance increased 11%, primarily due to an increase in salaries, wages and benefits and administrative costs ($45 million), an increase in certain expenditures which are primarily recovered through state- and FERC-regulated rates and do not impact net income ($20 million) and an increase in outside services primarily attributable to a service contract with a government entity which commenced in late 2025 ($12 million), partially offset by a decrease in storm damage and restoration costs ($13 million).

Current wording

Other operations and maintenance increased 11%, primarily due to an increase in salaries, wages and benefits and administrative costs ($65 million), an increase in outside services primarily attributable to a service contract with a government entity which commenced in late 2025 ($26 million), an increase in certain expenditures which are primarily recovered through state- and FERC-regulated rates and do not impact net income ($21 million) and an increase in outage costs ($16 million), partially offset by a decrease in storm damage and restoration costs ($24 million).

Previous wording

Interest and related charges increased 7%, primarily due to an increase in long-term debt borrowings ($29 million), partially offset by decreased interest expense associated with rider deferrals ($20 million), which is offset in operating revenue and does not impact net income.

Current wording

Interest and related charges increased 5%, primarily due to an increase in long-term debt borrowings ($67 million), partially offset by decreased interest expense associated with rider deferrals ($23 million), which is offset in operating revenue and does not impact net income.

Previous wording

Noncontrolling interests increased $118 million, due to an increase in earnings associated with the CVOW Commercial Project, including a decrease in charges for costs not expected to be recovered.

Current wording

Noncontrolling interests increased 53%, due to an increase in earnings associated with the CVOW Commercial Project, which includes the share of increased charges for costs not expected to be recovered from customers.

Previous wording

Includes an increase from renewable natural gas facilities of $14 million.

Current wording

Includes an increase from renewable natural gas facilities of $6 million and $20 million for the quarter and year-to-date periods, respectively.

Previous wording

Corporate and Other includes specific items attributable to Dominion Energy’s primary operating segments that are not included in profit measures evaluated by executive management in assessing the segments’ performance or in allocating resources. See Note 20 to the Consolidated Financial Statements in this report for discussion of these items in more detail. Corporate and Other also includes items attributable to the Corporate and Other segment. For both the three months ended March 31, 2026 and 2025, Dominion Energy reported an insignificant amount of specific items in the Corporate and Other segment.

Current wording

Corporate and Other includes specific items attributable to Dominion Energy’s primary operating segments that are not included in profit measures evaluated by executive management in assessing the segments’ performance or in allocating resources. See Note 20 to the Consolidated Financial Statements in this report for discussion of these items in more detail. Corporate and Other also includes items attributable to the Corporate and Other segment. For the three months ended June 30, 2026, this primarily included $21 million after-tax benefit for derivative mark-to-market changes. For the six months ended June 30, 2026, this primarily included $24 million after-tax benefit for derivative mark-to-market changes. For the three months ended June 30, 2025, this primarily included $15 million after-tax loss for derivative mark-to-market changes. For the six months ended June 30, 2025, this primarily included $20 million after-tax loss for derivative mark-to-market changes.

Previous wording

Includes cash outflows of $16 million and $18 million for energy efficiency programs in Virginia for the three months ended March 31, 2026 and 2025, respectively, and $7 million and $6 million for DSM programs in South Carolina for the three months ended March 31, 2026 and 2025, respectively.

Current wording

Includes cash outflows of $31 million and $39 million for energy efficiency programs in Virginia for the six months ended June 30, 2026 and 2025, respectively, and $14 million and $12 million for DSM programs in South Carolina for the six months ended June 30, 2026 and 2025, respectively.

Previous wording

Net cash provided by Dominion Energy’s operating activities decreased $301 million, primarily due to lower deferred fuel and purchased gas cost recoveries ($508 million), an increase in interest payments primarily driven by higher borrowings ($203 million) and changes in working capital ($63 million), partially offset by a $473 million increase due to higher operating cash flows from electric utility operations driven by weather, riders and impacts from the 2025 Biennial Review.

Current wording

Net cash provided by Dominion Energy’s operating activities increased $28 million, primarily due to higher operating cash flows from electric utility operations driven by riders and impacts from the 2025 Biennial Review ($754 million), partially offset by lower deferred fuel and purchased gas cost recoveries ($251 million), an increase in interest payments primarily driven by higher borrowings ($231 million) and lower settlements of interest rate swaps ($230 million).

Previous wording

Net cash used in Dominion Energy’s investing activities decreased $135 million, primarily due to a decrease in plant construction and other property additions.

Current wording

Net cash used in Dominion Energy’s investing activities decreased $394 million, primarily due to timing of payments for plant construction and other property additions.

Previous wording

Net cash from Dominion Energy’s financing activities increased $198 million, primarily due to an increase in net issuances of short-term debt ($1.1 billion) and 364-day term loan facility borrowings ($800 million), partially offset by a decrease in net issuances of long-term debt ($1.4 billion) and a decrease in capital contributions from Stonepeak to OSWP, net of distributions from OSWP to Stonepeak ($309 million).

Current wording

Net cash from Dominion Energy's financing activities decreased $446 million, primarily due to a decrease in net issuances of short-term debt ($1.3 billion), a decrease in capital contributions from Stonepeak to OSWP, net of distributions from OSWP to Stonepeak ($416 million) and a decrease in net issuances of long-term debt ($288 million), partially offset by 364-day term loan facility borrowings ($1.3 billion) and net supplemental credit facility borrowings ($200 million).

Previous wording

As discussed in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025, Dominion Energy generally uses proceeds from short-term borrowings, including commercial paper, to satisfy short-term cash requirements not met through cash from operations. The levels of borrowing may vary significantly during the course of the year, depending on the timing and amount of cash requirements not satisfied by cash from operations. There have been no significant changes to Dominion Energy’s use of credit facilities and/or short-term debt during the three months ended March 31, 2026.

Current wording

As discussed in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025, Dominion Energy generally uses proceeds from short-term borrowings, including commercial paper, to satisfy short-term cash requirements not met through cash from operations. The levels of borrowing may vary significantly during the course of the year, depending on the timing and amount of cash requirements not satisfied by cash from operations. There have been no significant changes to Dominion Energy’s use of credit facilities and/or short-term debt during the six months ended June 30, 2026.

Previous wording

Dominion Energy’s short-term financing is primarily supported by its joint revolving credit facility. At March 31, 2026, Dominion Energy had $5.3 billion of unused capacity under its revolving credit facilities. In April 2026, Dominion Energy’s $1.0 billion 364-day revolving credit facility matured. Subsequently, in April 2026, Dominion Energy entered into a $1.0 billion supplemental revolving credit facility which matures in April 2028. This credit facility can be used to support bank borrowings and the issuance of commercial paper. See Note 15 to the Consolidated Financial Statements in this report for the balances of commercial paper and letters of credit outstanding and for additional information on the revolving credit facilities.

Current wording

Dominion Energy’s short-term financing is primarily supported by its joint revolving credit facility. At June 30, 2026, Dominion Energy had $5.9 billion of unused capacity under its revolving credit facilities. In April 2026, Dominion Energy’s $1.0 billion 364-day revolving credit facility matured. Subsequently, in April 2026, Dominion Energy entered into a $1.0 billion supplemental revolving credit facility which matures in April 2028. This credit facility can be used to support bank borrowings and the issuance of commercial paper. See Note 15 to the Consolidated Financial Statements in this report for the balances of commercial paper and letters of credit outstanding and for additional information on the revolving credit facilities.

Previous wording

Dominion Energy has an effective shelf registration statement with the SEC for the sale of up to $3.0 billion of variable denomination floating rate demand notes, called Dominion Energy Reliability Investment SM. The registration limits the principal amount that may be outstanding at any one time to $1.0 billion. The notes are offered on a continuous basis and bear interest at a floating rate per annum determined by the Dominion Energy Reliability Investment Committee, or its designee, on a weekly basis. The notes have no stated maturity date, are non-transferable and may be redeemed in whole or in part by Dominion Energy or at the investor’s option at any time. At March 31, 2026, Dominion Energy’s Consolidated Balance Sheet included $406 million presented within short-term debt. The proceeds are used for general corporate purposes and to repay debt.

Current wording

Dominion Energy has an effective shelf registration statement with the SEC for the sale of up to $3.0 billion of variable denomination floating rate demand notes, called Dominion Energy Reliability Investment SM. The registration limits the principal amount that may be outstanding at any one time to $1.0 billion. The notes are offered on a continuous basis and bear interest at a floating rate per annum determined by the Dominion Energy Reliability Investment Committee, or its designee, on a weekly basis. The notes have no stated maturity date, are non-transferable and may be redeemed in whole or in part by Dominion Energy or at the investor’s option at any time. At June 30, 2026, Dominion Energy’s Consolidated Balance Sheet included $375 million presented within short-term debt. The proceeds are used for general corporate purposes and to repay debt.

Previous wording

In addition to the primary sources of short-term liquidity discussed above, from time to time Dominion Energy enters into separate supplementary credit facilities or term loans as discussed in Note 15 to the Consolidated Financial Statements in this report. In April 2026, Dominion Energy borrowed the remaining $450 million under its approximately $1.3 billion 364-day term loan facility entered into in February 2026, with the proceeds used for general corporate purposes.

Current wording

In addition to the primary sources of short-term liquidity discussed above, from time to time Dominion Energy enters into separate supplementary credit facilities or term loans as discussed in Note 15 to the Consolidated Financial Statements in this report. In April 2026, Dominion Energy borrowed the remaining $450 million under its approximately $1.3 billion 364-day term loan facility entered into in February 2026, with the proceeds used for general corporate purposes. In July 2026, Dominion Energy repaid $300 million borrowed under this facility.

Previous wording

Dominion Energy maintains a Sustainability Revolving Credit Agreement which is described in Note 18 to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025. At March 31, 2026, Dominion Energy had no borrowings outstanding under this facility. See Note 15 to the Consolidated Financial Statements in this report for additional information.

Current wording

Dominion Energy maintains a Sustainability Revolving Credit Agreement which is described in Note 18 to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025. At June 30, 2026, Dominion Energy had $200 million of borrowings outstanding under this facility with the proceeds used to support environmental sustainability and social investment initiatives, which was repaid in July 2026. See Note 15 to the Consolidated Financial Statements in this report for borrowings and repayments made during the six months ended June 30, 2026.

Previous wording

During the three months ended March 31, 2026, Dominion Energy issued or borrowed the following long-term debt. Unless otherwise noted, the proceeds were used for the repayment of existing indebtedness and for general corporate purposes.

Current wording

During the six months ended June 30, 2026, Dominion Energy issued or borrowed the following long-term debt. Unless otherwise noted, the proceeds were used for the repayment of existing indebtedness and for general corporate purposes.

Previous wording

The following long-term debt was repaid, repurchased or redeemed during the three months ended March 31, 2026:

Current wording

The following long-term debt was repaid, repurchased or redeemed during the six months ended June 30, 2026:

Previous wording

During the three months ended March 31, 2026, Dominion Energy was not required to and did not complete the remarketing of any of its long-term debt. In 2026, Dominion Energy does not expect to remarket any of its tax-exempt bonds.

Current wording

During the six months ended June 30, 2026, Dominion Energy was not required to and did not complete the remarketing of any of its long-term debt. In 2026, Dominion Energy does not expect to remarket any of its tax-exempt bonds.

Previous wording

As discussed in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025, Dominion Energy’s credit ratings affect its liquidity, cost of borrowing under credit facilities and collateral posting requirements under commodity contracts, as well as the rates at which it is able to offer its debt securities. The credit ratings for Dominion Energy are affected by its financial profile, mix of regulated and nonregulated businesses and respective cash flows, changes in methodologies used by the rating agencies and event risk, if applicable, such as major acquisitions or dispositions. A credit rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. Ratings are subject to revision or withdrawal at any time by the applicable rating organization. At March 31, 2026, there have been no changes in Dominion Energy’s credit ratings from those described in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025.

Current wording

As discussed in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025, Dominion Energy’s credit ratings affect its liquidity, cost of borrowing under credit facilities and collateral posting requirements under commodity contracts, as well as the rates at which it is able to offer its debt securities. The credit ratings for Dominion Energy are affected by its financial profile, mix of regulated and nonregulated businesses and respective cash flows, changes in methodologies used by the rating agencies and event risk, if applicable, such as major acquisitions or dispositions. A credit rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. Ratings are subject to revision or withdrawal at any time by the applicable rating organization. In May 2026, Dominion Energy’s credit ratings were revised as follows: Moody’s affirmed its credit ratings and revised its outlook from negative to positive; Standard & Poor’s affirmed its credit ratings and revised its outlook from stable to positive; and Fitch affirmed its credit ratings and revised its outlook from stable to positive watch. At June 30, 2026, there have been no other changes in Dominion Energy’s credit ratings from those described in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2025.