Vistra Corp

Vistra is the largest producer of power in deregulated markets in the U.S. with annual expected generation of over 200 TWh as of December 31, 2024.

Vistra is guided by four core principles:

•We do business the right way. Every decision we make and action we take will be evidence of the utmost integrity and compliance.

•We compete to win. We will create the leading integrated energy company with an unmatched work ethic, an analysis-driven and disciplined culture with strong leadership and decision-making throughout the organization.

•We work as a team. We are committed to each other, everything we do and to the success of our company.

•We care about our key stakeholders. We respect our fellow employees, we focus on our customers, and we care about our communities where we live and do business. We will maintain productive and respectful relationship with our legislators, regulators and community leaders.

To align with our four core principles, our focus is on the execution of our strategic priorities as follows:

Long-term, attractive earnings profile through the integrated business model. Our integrated business model distinguishes us from our electricity competitors as it combines our reliable and efficient diversified generation fleet totaling approximately 41,000 MW of capacity, with our commercial operations, including commodity risk management capabilities, and our best-in-class retail energy platform. We believe integrating retail with power generation stands as a fundamental competitive advantage that mitigates the impact of commodity price fluctuations and enhances the stability and predictability of our cash flows.

Disciplined capital allocation. We strive to make thoughtful decisions when allocating our free cash flow to balance growth opportunities with returning capital to our stakeholders through share repurchases, dividends, and debt reduction.

Maintaining a resilient balance sheet. We seek to manage our financial leverage by maintaining a strong balance sheet which ensures our access to diverse sources of liquidity. We believe this provides financial flexibility for our capital allocation decisions, including executing on organic growth opportunities, engaging in mergers and acquisitions, opportunistic debt reduction, or returning capital to our stockholders.

Strategic energy transition that supports the reliability, affordability, and sustainability of the electric grid. As one of the largest electricity generators in the U.S., Vistra has led the way in decarbonization efforts and is committed to sustainability, setting aggressive targets, and transitioning our fleet to low-to-no carbon resources, all while balancing our obligations to our stakeholders. While the way we generate electricity may be changing, our essential role in providing reliable and affordable electricity is not.