Talen Energy Corp

The net cash provided by (used in) operating, investing and financing activities for the six months ended June 30 were:

Successor Period — Six Months Ended June 30, 2024

•Operating Cash Flows. Cash provided by (used in) operating activities totaled $150 million. This primarily consisted of cash provided from operations of the Company.

•Investing Cash Flows. Cash provided by (used in) investing activities totaled $979 million. Talen received $339 million of initial net proceeds from the Cumulus Data Campus Sale in the first quarter of 2024 and $754 million of initial net proceeds from the ERCOT Sale in the second quarter of 2024. Partially offsetting these inflows were capital expenditures of $(90) million that primarily consisted of $(45) million for nuclear fuel expenditures. See Note 17 in Notes to the Interim Financial Statements for additional information on the Cumulus Data Campus Sale and the ERCOT Sale.

•Financing Cash Flows. Cash provided by (used in) financing activities totaled $(915) million. This primarily consisted of $(182) million for the repayment of the Cumulus Digital TLF in the first quarter of 2024 using a portion of the proceeds from the Cumulus Data Campus Sale; $(39) million in the first quarter of 2024 for the repurchase of noncontrolling interests held by affiliates of Orion and two former members of Talen senior management; and $(654) million in the six months ended June 30, 2024 (Successor) to repurchase common stock shares. See “Recent Developments - Shares Repurchases” above for additional information on share repurchases. In addition, an outflow of $(28) million occurred to cash settle restricted stock units upon vesting.

•Investing Cash Flows. Cash provided by (used in) investing activities totaled $(38) million and primarily consisted of capital expenditures. Capital expenditures outflows, including those for nuclear fuel, totaled $(34) million and consisted of: $(20) million for fuel conversion projects and Cumulus Data Campus project; and $(14) million related to nuclear fuel expenditures.

Predecessor Period — January 1 through May 17, 2023

•Operating Cash Flows. Cash provided by (used in) operating activities totaled $462 million and consisted of cash provided from the operations of the Company, including declines in accounts receivable, partially offset by payments made for accrued interest and other claims at Emergence.

•Investing Cash Flows. Cash provided by (used in) investing activities totaled $(157) million and consisted of capital expenditures offset by $46 million in proceeds from the sale of assets.

•Capital expenditures, including those for nuclear fuel, totaled $(187) million and consisted of: $(138) million across the Company for current projects including the Montour gas conversion project, the Cumulus Data Campus and Nautilus crypto mining projects and projects at Susquehanna; and $(49) million related to nuclear fuel expenditures.

•Financing Cash Flows. Cash provided by (used in) financing activities totaled $(539) million and consisted of the net effect of issuances and repayments of prepetition debt and make-whole premiums of about $(1.9) billion net cash outflow partially offset by $1.4 billion cash inflow for a contribution from member.