Earnings release
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1 NEWS RELEASE FOR IMMEDIATE RELEASE Nov. 2, 2026 Entergy reports third quarter 2026 financial results Company narrows guidance range, affirms financial outlooks NEW ORLEANS – Entergy Corporation (NYSE: ETR) reported third quarter 2026 earnings per share of $1.98 on an as-reported and an adjusted (non-GAAP) basis. “We made very strong progress this quarter across customer, operational, regulatory, and financial aspects of our business,” said Drew Marsh, Entergy Chair and Chief Executive Officer. “We have clear line of sight to deliver on our near- and long-term objectives, and we are well positioned to execute on additional opportunities driven by customer needs.” Business highlights included the following: • Entergy Arkansas announced an expansion of its service agreement with Google. • Orange County Advanced Power Station is operational and delivering power to Entergy Texas customers. • The LPSC approved Entergy Louisiana’s $1.2 billion Babel to Webre transmission project. • Entergy Louisiana reached a settlement with the LPSC Staff in its Evest filing. • Entergy Louisiana filed its application for additional Future Ready resilience plan investment. • The CCNO approved Entergy New Orleans’s four-year FRP extension. • Entergy Mississippi filed an application to securitize costs associated with Winter Storm Fern. • The U.S. Department of Energy awarded $14 million in grants to Entergy utility companies to strengthen grid reliability. • Entergy’s Board of Directors declared a quarterly dividend of 68 cents per share, a six percent increase. • Entergy received its 52nd EEI emergency response award for restoration efforts following Winter Storm Fern. • Site Selection magazine named Entergy a top utility in economic development for the 19th consecutive year. Table of contents Page News release 1 Table of appendices and financial statements 6 A: Consolidated results and adjustments 7 B: Earnings variance analysis 10 C: Utility operating and financial measures 13 D: Consolidated financial measures 14 E: Definitions and abbreviations and acronyms 15 F: Other GAAP to non-GAAP reconciliations 17 Financial statements 19
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Entergy reports third quarter 2026 financial results Nov. 2, 2026 Page 2 (more) Consolidated earnings (GAAP and non-GAAP measures) Third quarter and year-to-date 2026 vs. 2025 (See Appendix A for reconciliation of GAAP to non-GAAP measures and details on adjustments) Third quarter Year-to-date 2026 2025 Change 2026 2025 Change (After-tax, $ in millions) As-reported earnings 940 694 247 1,808 1,522 285 Less adjustments - - - (14) - (14) Adjusted earnings (non-GAAP) 940 694 247 1,821 1,522 299 Estimated weather impact 116 28 88 108 88 21 (After-tax, per share in $) As-reported earnings 1.98 1.53 0.45 3.86 3.40 0.46 Less adjustments - - - (0.03) - (0.03) Adjusted earnings (non-GAAP) 1.98 1.53 0.45 3.89 3.40 0.49 Estimated weather impact 0.24 0.06 0.18 0.23 0.20 0.03 Calculations may differ due to rounding Consolidated results For third quarter 2026, the company reported earnings of $940 million, or $1.98 per share, on an as-reported and an adjusted basis. This compared to third quarter 2025 earnings of $694 million, or $1.53 per share, on an as-reported and an adjusted basis. Summary discussions of results by business follow. Additional details, including information on operating cash flow by business, are provided in Appendix A. Appendix B provides a more detailed analysis of earnings per share variances by business. Business results Utility For third quarter 2026, the Utility business reported earnings attributable to Entergy Corporation of $1,079 million, or $2.28 per share, on an as-reported and an adjusted basis. This compared to third quarter 2025 earnings of $810 million, or $1.79 per share, on an as-reported and an adjusted basis. The primary drivers for the quarter’s earnings increase included: • higher retail sales volume, including the effects of weather; • the net effect of regulatory actions across several operating companies; • return on construction work in progress for certain utility plant investments; and • higher other income (deductions). These drivers were partially offset by higher interest expense, other O&M, and depreciation and amortization. On a per share basis, third quarter 2026 results reflected higher diluted average number of common shares outstanding primarily due to the settlement of equity forwards in 2025 and 2026. Appendix C contains additional details on Utility operating and financial measures. Parent & Other For third quarter 2026, Parent & Other reported a loss attributable to Entergy Corporation of $(139 million), or (29) cents per share, on an as-reported and an adjusted basis. This compared to a
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Entergy reports third quarter 2026 financial results Nov. 2, 2026 Page 3 (more) third quarter 2025 loss of $(117 million), or (26) cents per share, on an as-reported and an adjusted basis. The primary driver for the quarter-over-quarter change was higher interest expense. On a per share basis, third quarter 2026 results reflected higher diluted average number of common shares outstanding (see details in Utility section). Earnings per share guidance Entergy narrowed its 2026 adjusted earnings per share guidance to a range of $4.35 to $4.45. See the earnings call presentation for additional details. The company has provided 2026 earnings guidance with regard to the non-GAAP measure of adjusted earnings per share. This measure excludes from the corresponding GAAP financial measure the effect of adjustments as described in the “Non-GAAP financial measures” section. The company has not provided a reconciliation of such non-GAAP guidance to guidance presented on a GAAP basis because it cannot predict and quantify with a reasonable degree of confidence all of the adjustments that may occur during the period. Potential adjustments include, among other things, certain significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses. Earnings teleconference A teleconference will be held at 10:00 a.m. Central Time on Monday, Nov. 2, 2026, to discuss Entergy’s quarterly earnings announcement and the company’s financial performance. The teleconference may be accessed by visiting Entergy’s website at investors.entergy.com/investors/events-and-presentations or by dialing 888-440-4149, conference ID 9024832, no more than 15 minutes prior to the start of the call. The earnings call presentation is also being posted to Entergy’s website concurrent with this news release. A replay of the teleconference will be available on Entergy’s website at investors.entergy.com/investors/events-and-presentations and by telephone. The telephone replay will be available through Nov. 9, 2026, by dialing 800-770-2030, conference ID 9024832. Entergy (NYSE: ETR) generates, transmits and distributes electricity to power life for more than 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We’re focused on keeping costs for our customers as low as possible while providing reliable energy that our communities count on. We’re also investing in growth for the future with a more resilient, cleaner energy system that includes modern natural gas, nuclear and renewable energy generation. As a nationally recognized leader in sustainability and corporate citizenship, we deliver more than $100 million in economic benefits each year to the communities we serve through philanthropy, volunteerism and advocacy. Entergy is a Fortune 500 company headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. Learn more at Entergy.com and connect with @Entergy on social media. Entergy Corporation’s common stock is listed on the New York Stock Exchange and NYSE Texas under the symbol “ETR”. Details regarding Entergy’s results of operations, regulatory proceedings, and other matters are available in this earnings release, a copy of which will be filed with the SEC, and the earnings call presentation. Both documents are available on Entergy’s Investor Relations website at investors.entergy.com/investors/events-and-presentations.
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Entergy reports third quarter 2026 financial results Nov. 2, 2026 Page 4 (more) Entergy maintains a web page as part of its Investor Relations website entitled Regulatory and other information, which provides investors with key updates on certain regulatory proceedings and important milestones on the execution of its strategy. While some of this information may be considered material information, investors should not rely exclusively on this page for all relevant company information. For definitions of certain operating measures, as well as GAAP and non-GAAP financial measures and abbreviations and acronyms used in the earnings release materials, see Appendix E. Non-GAAP financial measures This news release contains non-GAAP financial measures, which are generally numerical measures of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Entergy has provided quantitative reconciliations within this news release of the non-GAAP financial measures to the most directly comparable GAAP financial measures. Entergy reports earnings using the non-GAAP measure of adjusted earnings, which excludes the effect of certain “adjustments”. Adjustments are unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business of Entergy, such as significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses. In addition to reporting GAAP earnings on a per share basis, Entergy reports its adjusted earnings on a per share basis. These per share measures represent the applicable earnings amount divided by the diluted average number of common shares outstanding for the period. Management uses the non-GAAP financial measures of adjusted earnings and adjusted earnings per share for, among other things, financial planning and analysis; reporting financial results to the board of directors, employees, owners, and analysts; and internal evaluation of financial performance. Entergy believes that these non-GAAP financial measures provide useful information to investors in evaluating the ongoing results of Entergy’s business, comparing period to period results, and comparing Entergy’s financial performance to the financial performance of other companies in the utility sector. Other non-GAAP measures, including adjusted ROE, adjusted ROE excluding affiliate preferred, FFO to adjusted debt, gross liquidity, net liquidity, adjusted Parent debt to total adjusted debt, adjusted debt to adjusted capitalization, and adjusted net debt to adjusted net capitalization are measures Entergy uses internally for management and board of directors discussions and to gauge the overall strength of its business. Entergy believes the above data provides useful information to investors in evaluating Entergy’s ongoing financial results and flexibility and assists investors in comparing Entergy’s credit and liquidity to the credit and liquidity of others in the utility sector. These metrics are defined in Appendix E. These non-GAAP financial measures reflect an additional way of viewing aspects of Entergy’s operations that, when viewed with Entergy’s GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting Entergy’s business. These non-GAAP financial measures should not be used to the exclusion of GAAP financial measures. Investors are strongly encouraged to review Entergy’s consolidated financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Although certain of these measures are intended to assist investors in comparing Entergy’s performance to other companies in the utility sector, non-GAAP financial measures are not standardized; therefore, it might not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.
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Entergy reports third quarter 2026 financial results Nov. 2, 2026 Page 5 (more) Cautionary note regarding forward-looking statements This news release contains certain “forward-looking statements” within the meaning of federal securities laws that are subject to risks and uncertainties. Such statements include, among other things, statements regarding Entergy’s adjusted earnings per share guidance and outlooks; the company’s capital plan; retail and industrial sales growth outlooks; other financial and operational outlooks; and other statements of Entergy’s plans, beliefs, or expectations within this news release. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy’s most recent Annual Report on Form 10-K and any subsequent public filings with the Securities and Exchange Commission; (b) uncertainties associated with (1) rate proceedings, formula rate plans, and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent or on the timeline anticipated and (2) implementation of the ratemaking effects of changes in law; (c) uncertainties associated with (1) realizing the benefits of its resilience plan, including impacts of the frequency and intensity of future storms and storm paths, as well as the pace of project completion and (2) efforts to remediate the effects of major storms and recover related restoration costs; (d) risks associated with operating nuclear facilities, including plant relicensing, operating, and regulatory costs and risks; (e) changes in decommissioning trust values or earnings or in the timing or cost of decommissioning Entergy’s nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with executing on business strategies, including (1) strategic transactions that Entergy or its subsidiaries may undertake and the risks that any such transaction may not be completed as and when expected or the anticipated benefits may not be realized, and (2) Entergy’s ability to meet the rapidly growing demand for electricity, including from large-scale data centers and other large customers, and to manage the impacts of such growth on customers and its business, or the risk that contracted or expected load growth does not materialize or is not sustained; (h) risks and uncertainties associated with the resolution of pending or future applications, regulatory proceedings, litigation or governmental official actions relating to generation, transmission, or other facilities and the effect of related public and political opposition, including, in each case, those relating to any facilities designed to serve large-scale data centers; (i) direct and indirect impacts to Entergy or its customers from pandemics, terrorist attacks, geopolitical conflicts, cybersecurity threats, data security breaches, or other attempts to disrupt Entergy’s business or operations, and/or other catastrophic events; and (j) effects on Entergy or its customers of (1) changes in federal, state, or local laws and regulations and other governmental actions or policies, such as changes in monetary, fiscal, trade, tax, environmental, or energy (including, among other things, data center energy use, efficiency standards, and sources of power) policies, as well as changes in utility regulations, including those relating to new projects designed to serve the increased load growth of large-scale data centers and other large customers; (2) changes in commodity markets, capital markets, or economic conditions; and (3) technological change, including the costs, pace of development, and commercialization of new and emerging technologies. -30- Investor inquiries: Media inquiries: Liz Hunter Neal Kirby 504-576-3294 504-576-4238 ehunte1@entergy.com nkirby@entergy.com
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6 Third quarter 2026 earnings release appendices and financial statements Appendices A: Consolidated results and adjustments B: Earnings variance analysis C: Utility operating and financial measures D: Consolidated financial measures E: Definitions and abbreviations and acronyms F: Other GAAP to non-GAAP reconciliations Financial statements Consolidating balance sheets Consolidating income statements Consolidated cash flow statements
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7 A: Consolidated results and adjustments Appendix A-1 provides a comparative summary of consolidated earnings, including a reconciliation of as -reported earnings (GAAP) to adjusted earnings (non-GAAP). Appendix A-1: Consolidated earnings - reconciliation of GAAP to non-GAAP measures Third quarter and year-to-date 2026 vs. 2025 (See Appendix A-2 and Appendix A-3 for details on adjustments) Third quarter Year-to-date 2026 2025 Change 2026 2025 Change (After-tax, $ in millions) As-reported earnings (loss) Utility 1,079 810 269 2,245 1,899 346 Parent & Other (139) (117) (22) (437) (376) (61) Consolidated 940 694 247 1,808 1,522 285 Less adjustments Utility - - - - - - Parent & Other - - - (14) - (14) Consolidated - - - (14) - (14) Adjusted earnings (loss) (non-GAAP) Utility 1,079 810 269 2,245 1,899 346 Parent & Other (139) (117) (22) (424) (376) (47) Consolidated 940 694 247 1,821 1,522 299 Estimated weather impact 116 28 88 108 88 21 Diluted average number of common shares outstanding (in millions) 474 454 21 468 447 21 (After-tax, per share in $) (a) As-reported earnings (loss) Utility 2.28 1.79 0.49 4.80 4.25 0.55 Parent & Other (0.29) (0.26) (0.04) (0.93) (0.84) (0.09) Consolidated 1.98 1.53 0.45 3.86 3.40 0.46 Less adjustments Utility - - - - - - Parent & Other - - - (0.03) - (0.03) Consolidated - - - (0.03) - (0.03) Adjusted earnings (loss) (non-GAAP) Utility 2.28 1.79 0.49 4.80 4.25 0.55 Parent & Other (0.29) (0.26) (0.04) (0.91) (0.84) (0.06) Consolidated 1.98 1.53 0.45 3.89 3.40 0.49 Estimated weather impact 0.24 0.06 0.18 0.23 0.20 0.03 Calculations may differ due to rounding (a) Per share amounts are calculated by dividing the earnings (loss) by the corresponding diluted average number of common shares outstanding for the period. See Appendix B for detailed earnings variance analysis.
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8 Appendix A-2 and Appendix A-3 detail adjustments by business. Adjustments are included in as-reported earnings consistent with GAAP but are excluded from adjusted earnings. As a result, adjusted earnings is considered a non-GAAP measure. Appendix A-2: Adjustments by driver (shown as positive/ (negative) impact on earnings or EPS) Third quarter and year-to-date 2026 vs. 2025 Third quarter Year-to-date 2026 2025 Change 2026 2025 Change (Pre-tax except for income tax effect and totals; $ in millions) Parent & Other 1Q26 impairment related to the sale of a non-utility business interest in Independence power plant - - - (18) - (18) Income tax effect on Parent & Other adjustment above - - - 4 - 4 Total Parent and Other - - - (14) - (14) Total adjustments - - - (14) - (14) (After-tax, per share in $) (b) Parent & Other 1Q26 impairment related to the sale of a non-utility business interest in Independence power plant - - - (0.03) - (0.03) Total Parent & Other - - - (0.03) - (0.03) Total adjustments - - - (0.03) - (0.03) Calculations may differ due to rounding (b) Per share amounts are calculated by multiplying the earnings (loss) by the income tax rate that is expected to apply and dividing by the corresponding diluted average number of common shares outstanding for the period. Calculations may differ due to rounding Appendix A-3: Adjustments by income statement line item (shown as positive/ (negative) impact on earnings) Third quarter and year-to-date 2026 vs. 2025 (Pre-tax except for income taxes and totals; $ in millions) Third quarter Year-to-date 2026 2025 Change 2026 2025 Change Parent & Other Asset write-offs, impairments, and related charges - - - (18) - (18) Income taxes - - - 4 - 4 Total Parent & Other - - - (14) - (14) Total adjustments - - - (14) - (14)
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9 Appendix A-4 provides a comparative summary of OCF by business. Appendix A-4: Consolidated operating cash flow Third quarter and year-to-date 2026 vs. 2025 ($ in millions) Third quarter Year-to-date 2026 2025 Change 2026 2025 Change Utility 2,267 2,177 90 5,158 4,114 1,044 Parent & Other (32) (42) 10 (201) (181) (20) Consolidated 2,235 2,135 100 4,957 3,933 1,024 Calculations may differ due to rounding Year to date OCF increased primarily due to higher receipts of advance payments related to customer agreements and higher collections from Utility customers. These increases were partially offset by higher fuel and purchased power payments, lower proceeds from the transfer of production tax credits, the timing of payments to vendors, higher ad valorem tax payments partly due to the timing of payments, and higher interest payments.
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10 B: Earnings variance analysis Appendix B-1 and Appendix B-2 provide details of current quarter and year-to-date 2026 versus 2025 as-reported and adjusted earnings per share variances. Appendix B-1: As-reported and adjusted earnings per share variance analysis (c), (d) Third quarter 2026 vs. 2025 (After-tax, per share in $) Utility Parent & Other Consolidated As- reported Adjusted As- reported Adjusted As- reported Adjusted 2025 earnings (loss) 1.79 1.79 (0.26) (0.26) 1.53 1.53 Operating revenue less: fuel, fuel-related exp. and gas purch. for resale; purch. power; and other reg. chgs. (credits) – net 0.76 0.76 (e) - - 0.76 0.76 Nuclear refueling outage expenses (0.01) (0.01) - - (0.01) (0.01) Other O&M (0.10) (0.10) (f) - - (0.10) (0.10) Asset write-offs, impairments, and related charges 0.02 0.02 - - 0.02 0.02 Decommissioning - - - - - - Taxes other than income taxes (0.01) (0.01) - - (0.01) (0.01) Depreciation and amortization (0.05) (0.05) (g) - - (0.04) (0.04) Other income (deductions) 0.10 0.10 (h) 0.02 0.02 0.12 0.12 Interest expense (0.13) (0.13) (i) (0.06) (0.06) (j) (0.19) (0.19) Income taxes – other 0.01 0.01 (0.01) (0.01) 0.01 0.01 Preferred dividend requirements and noncontrolling interests - - - - - - Share effect (0.10) (0.10) 0.01 0.01 (0.09) (0.09) (k) 2026 earnings (loss) 2.28 2.28 (0.29) (0.29) 1.98 1.98 h Calculations may differ due to rounding Appendix B-2: As-reported and adjusted earnings per share variance analysis (c), (d) Year-to-date 2026 vs. 2025 (After-tax, per share in $) Utility Parent & Other Consolidated As- reported Adjusted As- reported Adjusted As- reported Adjusted 2025 earnings (loss) 4.25 4.25 (0.84) (0.84) 3.40 3.40 Operating revenue less: fuel, fuel-related exp. and gas purch. for resale; purch. power; and other reg. chgs. (credits) – net 0.84 0.84 (e) - - 0.84 0.84 Nuclear refueling outage expenses 0.01 0.01 - - 0.01 0.01 Other O&M (0.18) (0.18) (f) (0.01) (0.01) (0.18) (0.18) Asset write-offs, impairments, and related charges 0.02 0.02 (0.03) - (l) (0.01) 0.02 Decommissioning (0.01) (0.01) - - (0.01) (0.01) Taxes other than income taxes (0.05) (0.05) (m) - - (0.05) (0.05) Depreciation and amortization (0.14) (0.14) (g) - - (0.13) (0.13) Other income (deductions) 0.56 0.56 (h) 0.03 0.03 (n) 0.59 0.59 Interest expense (0.31) (0.31) (i) (0.12) (0.12) (j) (0.42) (0.42) Income taxes – other 0.04 0.04 (o) (0.01) (0.01) 0.03 0.03 Preferred dividend requirements and noncontrolling interests (0.01) (0.01) - - (0.01) (0.01) Share effect (0.22) (0.22) 0.04 0.04 (0.18) (0.18) (k) 2026 earnings (loss) 4.80 4.80 (0.93) (0.91) 3.86 3.89 h Calculations may differ due to rounding
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11 (c) Utility operating revenue and Utility income taxes – other variances exclude the following for the return/collection of excess/deficient unprotected ADIT (net effect was neutral to earnings) ($ in millions): 3Q26 3Q25 YTD26 YTD25 Utility operating revenue (11) (8) (39) (14) Utility income taxes – other 11 8 39 14 (d) EPS effects of individual income statement line item variances are calculated by multiplying the pre-tax amount by the income tax rate that is expected to apply and dividing by diluted average number of common shares outstanding for the prior period. Income taxes – other represents income tax differences other than the income tax effect of individual line- item variances. Share effect captures the per share impact from the change in diluted average number of common shares outstanding. (e) The third quarter and year-to-date earnings increases reflected higher electric volume including the effects of weather and the effect of rate actions including: E-AR’s FRP, E-AR’s Generating Arkansas Jobs Act rider, E-LA’s FRP (including FRP riders), E-LA’s RPCR, E-MS’s FRP interim facilities rate adjustment, E-TX’s TCRF, and E-TX’s DCRF. Higher revenue related to the amortization of customer advances designed to provide a return on CWIP for certain utility plant investments, which is recognized as costs are incurred, contributed to the increases. The increases also reflected higher revenues associated with Grand Gulf primarily due to higher other O&M and higher return on rate base as well as higher miscellaneous revenue primarily due to higher pole attachment revenues. The increases were partially offset by the receipt of liquidated damages at E-MS in third quarter 2025 which resulted from a counterparty’s termination of a purchased power agreement. The year-to-date results also reflected the effects of E-MS’s grid modernization rider and the sale of the natural gas LDC businesses in July 2025. Changes in regulatory provisions for decommissioning items were also a driver (based on regulatory treatment, decommissioning-related variances are offset in other line items and are largely earnings neutral). (f) The third quarter earnings decrease from higher Utility other O&M was primarily due to higher power delivery expenses driven by an increase in vegetation maintenance costs and higher power generation expenses largely due to a higher scope of work performed in 2026 as compared to 2025, including during plant outages. The year-to-date earnings decrease from higher Utility other O&M reflected higher power delivery expenses primarily due to increased vegetation maintenance costs as well as an increase in compensation and benefits costs mainly due to higher healthcare claims, the timing of recognition of prescription drug rebates, and revisions to estimated incentive-based compensation expense. The year-to-date decrease was partially offset by higher nuclear insurance refunds, lower gas operations expenses resulting from the sale of natural gas LDC businesses, and lower loss provisions and bad debt expense. The third quarter and year-to-date decreases also reflected a gain from the sale of natural gas LDC businesses as well as various project write-offs in third quarter 2025. (g) The third quarter and year-to-date earnings decreases from higher Utility depreciation and amortization were primarily due to higher plant in service. The decreases also reflected higher FERC jurisdictional depreciation rates at E-AR and E-LA effective Jan. 2026, and increases in E-LA’s nuclear depreciation rates effective Sept. 2025 and Sept. 2026. (h) The third quarter and year-to-date earnings increases from higher Utility other income (deductions) reflected higher amortization of tax gross ups on customer advances, higher external interest income, and higher AFUDC–equity due to higher construction work in progress. The year-to-date increase was partially offset by a true-up of E-LA’s MISO cost recovery mechanism in second quarter 2025 as well as lower intercompany dividend income from affiliate preferred membership interest related to storm cost securitizations (intercompany dividend income largely offset at P&O). The year-to-date variance included changes in nuclear decommissioning trust returns (based on regulatory treatment, decommissioning-related variances are offset in other line items and are largely earnings neutral). (i) The third quarter and year-to-date earnings decreases from higher Utility interest expense were primarily due to higher debt balances, higher average interest rates, and higher carrying costs on customer advances. The decreases also reflected 2026 carrying costs on retained proceeds from the monetization of production tax credits. (j) The third quarter and year-to-date earnings decreases from higher Parent & Other interest expense were primarily due to the issuance of $1.3 billion and $1.5 billion of junior subordinated debentures in Nov. 2025 and Aug. 2026, respectively. (k) The third quarter and year-to-date earnings per share decreases from share effect were due to higher diluted average number of common shares outstanding primarily due to the settlement of equity forwards in Oct. 2025, Feb. 2026, June 2026, and Sept. 2026. Utility as-reported operating revenue less fuel, fuel-related expenses and gas purchased for resale; purchased power; and other regulatory charges (credits) – net variance analysis 2026 vs. 2025 ($ EPS) 3Q YTD Electric volume / weather 0.33 0.36 Retail electric price 0.33 0.65 Return on CWIP for certain utility plant investments 0.09 0.21 Grand Gulf recovery 0.02 0.02 Miscellaneous revenue 0.02 0.06 E-MS 3Q25 PPA termination proceeds (0.02) (0.03) E-TX capacity costs net of recovery (0.01) 0.01 Sale of natural gas LDCs - (0.11) Reg. provisions for decommissioning items - (0.36) Other - 0.03 Total 0.76 0.84
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12 (l) The year-to-date as-reported earnings decrease from higher Parent & Other asset write-offs, impairments, and related charges was due to a first quarter 2026 $(18 million) ($(14 million) after tax) non-cash impairment related to the sale of a non-utility business interest in the Independence power plant (considered an adjustment and excluded from adjusted earnings). (m) The year-to-date earnings decrease from higher Utility taxes other than income taxes was primarily due to increases in ad valorem taxes resulting from higher assessments. (n) The year-to-date earnings increase from higher Parent & Other other income (deductions) was primarily due to lower intercompany dividends on affiliated preferred membership interest related to storm cost securitization (largely offset at Utility). (o) The year-to-date earnings increase from lower Utility income taxes – other was primarily due to tax benefits associated with the exercise of stock-based compensation in first quarter 2026.
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13 C: Utility operating and financial measures Appendix C provides a comparison of Utility operating and financial measures. Appendix C: Utility operating and financial measures Third quarter and year-to-date 2026 vs. 2025 Third quarter Year-to-date 2026 2025 % change % weather adj. (p) 2026 2025 % change % weather adj. (p) GWh sold Residential 13,163 11,692 12.6 6.1 29,955 29,376 2.0 2.4 Commercial 8,973 8,499 5.6 1.9 22,410 22,007 1.8 0.7 Governmental 673 678 (0.7) (1.2) 1,846 1,853 (0.4) (0.3) Industrial 17,055 16,255 4.9 4.9 50,114 45,707 9.6 9.6 Total retail 39,864 37,124 7.4 4.5 104,325 98,943 5.4 5.3 Wholesale 3,528 4,079 (13.5) 9,655 9,847 (1.9) Total 43,392 41,203 5.3 113,980 108,790 4.8 Number of electric retail customers Residential 2,643,202 2,625,811 0.7 Commercial 373,111 372,226 0.2 Governmental 19,167 18,845 1.7 Industrial 46,089 48,306 (4.6) Total 3,081,569 3,065,188 0.5 Other O&M and nuclear refueling outage exp. per MWh $19.71 $19.15 2.9 $20.43 $20.48 (0.2) Calculations may differ due to rounding (p) The effects of weather were estimated using hourly heating degree days and cooling degree days for the period from various locations and comparing to a “normal” temperature range for each jurisdiction based on 20-year historical data. The models used to estimate weather are updated periodically and are subject to change. For the quarter, weather-adjusted retail sales increased 4.5 percent. Residential sales growth was 6.1 percent. Industrial sales growth was 4.9 percent, driven by higher sales to data center and primary metals customers. Commercial sales increased 1.9 percent.
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14 D: Consolidated financial measures Appendix D provides comparative financial measures. Financial measures in this table include those calculated and presented in accordance with GAAP, as well as those that are considered non -GAAP financial measures. Appendix D: GAAP and non-GAAP financial measures 2026 vs. 2025 (See Appendix F for reconciliation of GAAP to non-GAAP financial measures) For 12 months ending Sept. 30 2026 2025 Change GAAP measure As-reported ROE 11.2% 11.4% (0.2)% Non-GAAP financial measure Adjusted ROE 11.3% 11.4% (0.2)% As of Sept. 30 ($ in millions, except where noted) 2026 2025 Change GAAP measures Cash and cash equivalents 4,205 1,517 2,688 Available revolver capacity 4,346 4,346 - Commercial paper 105 1,398 (1,293) Total debt 34,936 30,563 4,373 Junior subordinated debentures 4,000 1,200 2,800 Securitization debt 213 231 (18) Total debt to total capital 63% 64% (1)% Storm escrows 317 307 10 Non-GAAP financial measures ($ in millions, except where noted) FFO to adjusted debt 16.8% 16.8% - Adjusted debt to adjusted capitalization 60% 63% (3)% Adjusted net debt to adjusted net capitalization 56% 62% (5)% Gross liquidity 8,551 5,863 2,688 Net liquidity 10,907 7,846 3,061 Adjusted Parent debt to total adjusted debt 14% 18% (4)% Build-to-suit lease agreement (q) 1,450 - 1,450 Calculations may differ due to rounding (q) Maximum counterparty commitment; see Form 10-K for the fiscal year ended Dec. 2025 for additional details.
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15 E: Definitions and abbreviations and acronyms Appendix E-1 provides definitions of certain operating measures as well as GAAP and non -GAAP financial measures. Appendix E-1: Definitions Utility operating and financial measures Number of electric retail customers Average number of electric customers over the period Other O&M and refueling outage expense per MWh Other operation and maintenance expense plus nuclear refueling outage expense per MWh of total sales Financial measures – GAAP As-reported ROE Last twelve months net income attributable to Entergy Corp. divided by average common equity Available revolver capacity Amount of undrawn capacity remaining on corporate and subsidiary revolvers Securitization debt Debt on the balance sheet associated with securitization bonds that is secured by certain future customer collections Total capitalization Sum of total debt, subsidiaries’ preferred stock without sinking fund, total equity, and subsidiaries’ preferred stock without sinking fund and noncontrolling interests Total debt Sum of currently maturing long-term debt, long-term debt, notes payable and commercial paper, and finance lease obligations Total debt to total capitalization Total debt divided by total capitalization Financial measures – non-GAAP Adjusted capitalization Total capitalization excluding securitization debt Adjusted debt Total debt excluding securitization debt and 50% of junior subordinated debentures Adjusted debt to adjusted capitalization Adjusted debt divided by adjusted capitalization Adjusted earnings (loss) As-reported earnings (loss) minus adjustments Adjusted EPS Adjusted earnings (loss) divided by the diluted average number of common shares outstanding Adjusted net capitalization Adjusted capitalization minus cash and cash equivalents Adjusted net debt Adjusted debt minus cash and cash equivalents Adjusted net debt to adjusted net capitalization Adjusted net debt divided by adjusted net capitalization Adjusted Parent debt Entergy Corp. debt, including amounts drawn on credit revolver and commercial paper facilities plus unamortized debt issuance costs and discounts minus 50% of junior subordinated debentures Adjusted Parent debt to total adjusted debt Adjusted Parent debt divided by consolidated adjusted debt Adjusted ROE Last twelve months adjusted earnings divided by average common equity Adjusted ROE excluding affiliate preferred Last twelve months adjusted earnings, excluding dividend income from affiliate preferred as well as the after-tax cost of debt financing for preferred investment, divided by average common equity adjusted to exclude the estimated equity associated with the affiliate preferred investment Adjustments Unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business of Entergy, such as significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses FFO Last twelve months OCF minus preferred dividend requirements of subsidiaries, working capital items in OCF (receivables, fuel inventory, accounts payable, taxes accrued, interest accrued, deferred fuel costs, customer advances – current, and other working capital accounts), 50% of interest on junior subordinated debentures, and securitization regulatory charges FFO to adjusted debt Last twelve months FFO divided by end of period adjusted debt Gross liquidity Sum of cash and cash equivalents plus available revolver capacity Net liquidity Sum of gross liquidity, escrow accounts available for certain storm expenses, and equity sold forward but not yet settled minus commercial paper
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16 Appendix E-2 explains abbreviations and acronyms used in the quarterly earnings materials. Appendix E-2: Abbreviations and acronyms ACM ADIT AFUDC APSC BESS CAGR CCCT CCNO CFO COD CT CWIP DCRF DRM E-AR E-LA E-MS E-NO E-TX EEI EPS ETR FERC FFO FRP GAAP GCRR GGO Grand Gulf or GGNS Independence LDC Additional Capacity Mechanism Accumulated deferred income taxes Allowance for funds used during construction Arkansas Public Service Commission Battery and energy storage system Compound annual growth rate Combined cycle combustion turbine Council of the City of New Orleans Cash from operations Commercial operation date Combustion turbine Construction work in progress Distribution Cost Recovery Factor Distribution Recovery Mechanism Entergy Arkansas, LLC Entergy Louisiana, LLC Entergy Mississippi, LLC Entergy New Orleans, LLC Entergy Texas, Inc. Edison Electric Institute Earnings per share Entergy Corporation Federal Energy Regulatory Commission Funds from operations Formula rate plan U.S. generally accepted accounting principles Generation Cost Recovery Rider Geaux Green Option Unit 1 of Grand Gulf Nuclear Station (nuclear), 90% owned or leased by SERI Independence Steam Electric Station Local distribution company LPSC LTM MCRM MISO Moody’s MPSC NDT NYSE O&M OCAPS OCF OpCo Other O&M P&O PMR PPA PUCT RECs RSHCR ROE RPCR S&P SEC SERI TAM TCRF TRM VMR WACC Louisiana Public Service Commission Last twelve months MISO Cost Recovery Mechanism Midcontinent Independent System Operator, Inc. Moody’s Ratings Mississippi Public Service Commission Nuclear decommissioning trust New York Stock Exchange Operation and maintenance Orange County Advanced Power Station (CCCT) Net cash flow provided by operating activities Utility operating company Other operation and maintenance expense Parent & Other Performance Management Rider Power purchase agreement or purchased power agreement Public Utility Commission of Texas Renewable energy certificates Resilience and Storm Hardening Cost Recovery Return on equity Resilience Plan Cost Recovery Rider Standard & Poor’s U.S. Securities and Exchange Commission System Energy Resources, Inc. Tax Adjustment Mechanism Transmission Cost Recovery Factor Transmission Recovery Mechanism Vegetation management rider Weighted average cost of capital
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17 F: Other GAAP to non-GAAP reconciliations Appendix F-1, Appendix F-2, and Appendix F-3 provide reconciliations of various non-GAAP financial measures disclosed in this news release to their most comparable GAAP measure. Appendix F-1: Reconciliation of GAAP to non-GAAP financial measures – ROE (LTM $ in millions except where noted) Third quarter 2026 2025 As-reported net income attributable to Entergy Corporation (A) 2,044 1,809 Adjustments (B) (14) (5) Adjusted earnings (non-GAAP) (C)=(A-B) 2,057 1,814 Average common equity (average of beginning and ending balances) (D) 18,231 15,847 As-reported ROE (A/D) 11.2% 11.4% Adjusted ROE (non-GAAP) (C/D) 11.3% 11.4% Calculations may differ due to rounding Appendix F-2: Reconciliation of GAAP to non-GAAP financial measures – FFO to adjusted debt ($ in millions except where noted) Third quarter 2026 2025 Total debt (A) 34,936 30,563 Securitization debt (B) 213 231 50% junior subordinated debentures (C) 2,000 600 Adjusted debt (non-GAAP) (D)=(A-B-C) 32,723 29,733 Net cash flow provided by operating activities, LTM (E) 6,175 5,312 Preferred dividend requirements of subsidiaries, LTM (F) (18) (18) 50% of the interest expense associated with junior subordinated debentures, LTM (G) (85) (43) Working capital items in net cash flow provided by operating activities, LTM: Receivables (322) (114) Fuel inventory 31 6 Accounts payable 56 269 Taxes accrued 63 64 Interest accrued 117 30 Deferred fuel costs (245) (216) Customer advances – current 1,291 445 Other working capital accounts (225) (117) Securitization regulatory charges, LTM 19 17 Total (H) 786 384 FFO, LTM (non-GAAP) (I)=(E-F-G-H) 5,492 4,989 FFO to adjusted debt (non-GAAP) (I/D) 16.8% 16.8% Calculations may differ due to rounding
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18 Appendix F-3: Reconciliation of GAAP to non-GAAP financial measures – adjusted debt ratios; gross liquidity; and net liquidity ($ in millions except where noted) Third quarter 2026 2025 Total debt (A) 34,936 30,563 Securitization debt (B) 213 231 50% junior subordinated debentures (C) 2,000 600 Adjusted debt (non-GAAP) (D)=(A-B-C) 32,723 29,733 Cash and cash equivalents (E) 4,205 1,517 Adjusted net debt (non-GAAP) (F)=(D-E) 28,518 28,216 Commercial paper (G) 105 1,398 Total capitalization (H) 55,047 47,539 Securitization debt (B) 213 231 Adjusted capitalization (non-GAAP) (I)=(H-B) 54,834 47,308 Cash and cash equivalents (E) 4,205 1,517 Adjusted net capitalization (non-GAAP) (J)=(I-E) 50,629 45,791 Total debt to total capitalization (A/H) 63% 64% Adjusted debt to adjusted capitalization (non-GAAP) (D/I) 60% 63% Adjusted net debt to adjusted net capitalization (non-GAAP) (F/J) 56% 62% Available revolver capacity (K) 4,346 4,346 Storm escrows (L) 317 307 Equity sold forward, not yet settled (r) (M) 2,144 3,075 Gross liquidity (non-GAAP) (N)=(E+K) 8,551 5,863 Net liquidity (non-GAAP) (N-G+L+M) 10,907 7,846 Entergy Corporation notes: Due Sept. 2026 - 750 Due June 2028 650 650 Due June 2030 600 600 Due June 2031 650 650 Due June 2050 600 600 Junior subordinated debentures due Dec. 2054 1,200 1,200 Junior subordinated debentures due June 2056 700 - Junior subordinated debentures due June 2056 600 - Junior subordinated debentures due Dec. 2056 750 - Junior subordinated debentures due Dec. 2058 750 - Total Parent long-term debt (O) 6,500 4,450 Revolver drawn (P) - - Unamortized debt issuance costs and discounts (Q) (68) (41) Total Parent debt (R)=(G+O+P+Q) 6,536 5,808 Adjusted Parent debt (non-GAAP) (S)=(R-C) 4,536 5,208 Adjusted Parent debt to total adjusted debt (non-GAAP) (S/D) 14% 18% Calculations may differ due to rounding (r) Reflects adjustments, including for common dividends between contracting and settlement.
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Entergy Corporation Consolidating Balance Sheet September 30, 2026 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents: Cash ............................................................................................................ $ 59,586 $ 4,956 $ 64,542 T emporary cash investments ................................................................... 4,049,011 91,487 4,140,498 T otal cash and cash equivalents ............................................................ 4,108,597 96,443 4,205,040 Accounts receivable: Customer .................................................................................................... 1,301,873 — 1,301,873 Allowance for doubtful accounts .............................................................. (36,584) — (36,584) Associated companies ............................................................................... 3,689 (3,689) — Other ............................................................................................................ 195,700 3,275 198,975 Accrued unbilled revenues ........................................................................ 649,647 — 649,647 T otal accounts receivable ....................................................................... 2,114,325 (414) 2,113,911 Deferred fuel costs ........................................................................................ 227,306 — 227,306 Fuel inventory - at average cost .................................................................. 117,181 1,648 118,829 Materials and supplies .................................................................................. 1,773,995 2,618 1,776,613 Deferred nuclear refueling outage costs .................................................... 105,891 — 105,891 Prepayments and other ................................................................................ 650,085 (210,064) 440,021 TOTAL ............................................................................................................ 9,097,380 (109,769) 8,987,611 OTHER PROPERTY AND INVESTMENTS Investment in affiliates .................................................................................. 3,803,078 (3,803,078) — Decommissioning trust funds ...................................................................... 6,640,318 — 6,640,318 Non-utility property - at cost (less accumulated depreciation) ............... 472,616 6,404 479,020 Storm reserve escrow accounts .................................................................. 317,145 — 317,145 Other ............................................................................................................... 62,096 68,510 130,606 TOTAL ............................................................................................................ 11,295,253 (3,728,164) 7,567,089 PROPERTY, PLANT, AND EQUIPMENT Electric ............................................................................................................. 77,144,472 100,975 77,245,447 Construction work in progress ..................................................................... 10,786,802 157 10,786,959 Nuclear fuel .................................................................................................... 815,517 — 815,517 TOTAL PROPERTY, PLANT, AND EQUIPMENT .................................. 88,746,791 101,132 88,847,923 Less - accumulated depreciation and amortization .................................. 29,530,256 72,960 29,603,216 PROPERTY, PLANT, AND EQUIPMENT - NET ..................................... 59,216,535 28,172 59,244,707 DEFERRED DEBITS AND OTHER ASSETS Regulatory assets: Other regulatory assets ............................................................................ 4,884,562 — 4,884,562 Deferred fuel costs .................................................................................... 172,201 — 172,201 Goodwill .......................................................................................................... 367,582 — 367,582 Accumulated deferred income taxes .......................................................... 15,784 3,756 19,540 Other ................................................................................................................ 660,644 (48,441) 612,203 TOTAL ............................................................................................................ 6,100,773 (44,685) 6,056,088 TOTAL ASSETS ........................................................................................... $ 85,709,941 $ (3,854,446) $ 81,855,495 *T otals may not foot due to rounding. 19 19
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Entergy Corporation Consolidating Balance Sheet September 30, 2026 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated LIABILITIES AND EQUITY CURRENT LIABILITIES Currently maturing long-term debt .............................................................. $ 1,010,218 $ — $ 1,010,218 Notes payable and commercial paper: Associated companies ................................................................................ 75,564 (75,564) — Other .............................................................................................................. 27,297 104,900 132,197 Accounts payable: Associated companies ................................................................................ 36,058 (36,058) — Other .............................................................................................................. 2,626,536 4,136 2,630,672 Customer deposits ........................................................................................ 495,700 — 495,700 T axes accrued ................................................................................................ 682,333 15,465 697,798 Interest accrued ............................................................................................. 334,169 85,878 420,047 Deferred fuel costs ........................................................................................ 23,562 — 23,562 Pension and other postretirement liabilities ............................................... 49,547 11,013 60,560 Customer advances ...................................................................................... 1,832,762 — 1,832,762 Other ................................................................................................................ 284,532 4,086 288,618 TOTAL ............................................................................................................ 7,478,278 113,856 7,592,134 NON-CURRENT LIABILITIES Accumulated deferred income taxes and taxes accrued ........................ 8,446,225 (2,036,267) 6,409,958 Accumulated deferred investment tax credits ........................................... 181,023 — 181,023 Regulatory liability for income taxes - net .................................................. 1,009,678 — 1,009,678 Other regulatory liabilities ............................................................................. 3,898,506 — 3,898,506 Customer advances ...................................................................................... 188,398 — 188,398 Decommissioning and asset retirement cost liabilities ............................ 5,119,786 709 5,120,495 Accumulated provisions ................................................................................ 476,421 213 476,634 Pension and other postretirement liabilities ............................................... 70,721 8,763 79,484 Long-term debt ............................................................................................... 27,238,605 6,431,503 33,670,108 Customer advances for construction .......................................................... 2,200,124 — 2,200,124 Other ............................................................................................................ 1,328,121 (410,455) 917,666 TOTAL ............................................................................................................ 50,157,608 3,994,466 54,152,074 Subsidiaries' preferred stock without sinking fund ................................... 195,161 24,249 219,410 EQUITY Preferred stock, no par value, authorized 1,000,000 shares; issued shares in 2026 - none .................................................................. — — — Common stock, $0.01 par value, authorized 998,000,000 shares; issued 607,671,791 shares in 2026 ....................................................... 2,280,842 (2,274,765) 6,077 Paid-in capital ................................................................................................. 5,785,027 5,111,853 10,896,880 Retained earnings ......................................................................................... 19,799,422 (6,177,701) 13,621,721 Accumulated other comprehensive income .............................................. 38,843 (41,931) (3,088) Less - treasury stock, at cost (129,850,779 shares in 2026) .................. 120,000 4,600,723 4,720,723 TOTAL SHAREHOLDERS' EQUITY ......................................................... 27,784,134 (7,983,267) 19,800,867 Subsidiaries' preferred stock without sinking fund .................................. and noncontrolling interests ...................................................................... 94,760 (3,750) 91,010 TOTAL ............................................................................................................ 27,878,894 (7,987,017) 19,891,877 TOTAL LIABILITIES AND EQUITY ........................................................... $ 85,709,941 $ (3,854,446) $ 81,855,495 *T otals may not foot due to rounding. 20 20
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Entergy Corporation Consolidating Balance Sheet December 31, 2025 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents: Cash ............................................................................................................ $ 39,221 $ 6,674 $ 45,895 T emporary cash investments ................................................................... 1,817,764 65,257 1,883,021 T otal cash and cash equivalents ............................................................ 1,856,985 71,931 1,928,916 Accounts receivable: Customer .................................................................................................... 735,734 — 735,734 Allowance for doubtful accounts .............................................................. (32,324) — (32,324) Associated companies ............................................................................... 4,643 (4,643) — Other ............................................................................................................ 239,157 3,245 242,402 Accrued unbilled revenues ........................................................................ 524,420 — 524,420 T otal accounts receivable ....................................................................... 1,471,630 (1,398) 1,470,232 Deferred fuel costs ........................................................................................ 54,133 — 54,133 Fuel inventory - at average cost .................................................................. 125,480 6,494 131,974 Materials and supplies .................................................................................. 1,705,669 4,726 1,710,395 Deferred nuclear refueling outage costs .................................................... 86,497 — 86,497 Prepayments and other ................................................................................ 431,881 (7,177) 424,704 TOTAL ............................................................................................................ 5,732,275 74,576 5,806,851 OTHER PROPERTY AND INVESTMENTS Investment in affiliates .................................................................................. 4,014,624 (4,014,624) — Decommissioning trust funds ...................................................................... 6,300,880 — 6,300,880 Non-utility property - at cost (less accumulated depreciation) ............... 475,121 6,469 481,590 Storm reserve escrow accounts .................................................................. 308,784 — 308,784 Other ............................................................................................................... 57,013 67,401 124,414 TOTAL ............................................................................................................ 11,156,422 (3,940,754) 7,215,668 PROPERTY, PLANT, AND EQUIPMENT Electric ............................................................................................................. 74,546,777 204,140 74,750,917 Construction work in progress ..................................................................... 6,018,996 1,012 6,020,008 Nuclear fuel .................................................................................................... 834,690 — 834,690 TOTAL PROPERTY, PLANT, AND EQUIPMENT .................................. 81,400,463 205,152 81,605,615 Less - accumulated depreciation and amortization .................................. 28,598,552 152,449 28,751,001 PROPERTY, PLANT, AND EQUIPMENT - NET ..................................... 52,801,911 52,703 52,854,614 DEFERRED DEBITS AND OTHER ASSETS Regulatory assets: Other regulatory assets ............................................................................ 5,005,976 — 5,005,976 Deferred fuel costs .................................................................................... 172,201 — 172,201 Goodwill .......................................................................................................... 367,582 — 367,582 Accumulated deferred income taxes .......................................................... 12,311 3,229 15,540 Other ................................................................................................................ 477,426 (25,128) 452,298 TOTAL ............................................................................................................ 6,035,496 (21,899) 6,013,597 TOTAL ASSETS ........................................................................................... $ 75,726,104 $ (3,835,374) $ 71,890,730 *T otals may not foot due to rounding. 21 21
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Entergy Corporation Consolidating Balance Sheet December 31, 2025 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated LIABILITIES AND EQUITY CURRENT LIABILITIES Currently maturing long-term debt .............................................................. $ 1,625,140 $ 750,000 $ 2,375,140 Notes payable and commercial paper: Other .............................................................................................................. 20,012 637,762 657,774 Accounts payable: Associated companies ................................................................................ 43,470 (43,470) — Other .............................................................................................................. 2,560,083 5,463 2,565,546 Customer deposits ........................................................................................ 479,796 — 479,796 T axes accrued ................................................................................................ 526,984 (1,795) 525,189 Interest accrued ............................................................................................. 256,476 29,181 285,657 Deferred fuel costs ........................................................................................ 14,562 — 14,562 Pension and other postretirement liabilities ............................................... 51,906 11,308 63,214 Customer advances ...................................................................................... 632,850 — 632,850 Other ................................................................................................................ 218,775 4,465 223,240 TOTAL ............................................................................................................ 6,430,054 1,392,914 7,822,968 NON-CURRENT LIABILITIES Accumulated deferred income taxes and taxes accrued ........................ 7,503,093 (1,910,412) 5,592,681 Accumulated deferred investment tax credits ........................................... 187,173 — 187,173 Regulatory liability for income taxes - net .................................................. 1,079,699 — 1,079,699 Other regulatory liabilities ............................................................................. 3,911,839 — 3,911,839 Customer advances ...................................................................................... 35,000 — 35,000 Decommissioning and asset retirement cost liabilities ............................ 4,943,671 3,859 4,947,530 Accumulated provisions ................................................................................ 495,549 230 495,779 Pension and other postretirement liabilities ............................................... 70,484 43,446 113,930 Long-term debt ............................................................................................... 22,956,499 4,945,522 27,902,021 Customer advances for construction .......................................................... 1,615,455 — 1,615,455 Other ............................................................................................................ 1,359,531 (406,453) 953,078 TOTAL ............................................................................................................ 44,157,993 2,676,192 46,834,185 Subsidiaries' preferred stock without sinking fund ................................... 195,161 24,249 219,410 EQUITY Preferred stock, no par value, authorized $1,000,000 shares; issued shares in 2025 - none .................................................................. — — — Common stock, 0.01 par value, authorized 998,000,000 shares; issued 583,203,774 shares in 2025 ....................................................... 2,280,842 (2,275,010) 5,832 Paid-in capital ................................................................................................. 5,420,248 3,559,139 8,979,387 Retained earnings ......................................................................................... 17,223,994 (4,525,558) 12,698,436 Accumulated other comprehensive income (loss) ................................... 42,971 (45,977) (3,006) Less - treasury stock, at cost (130,864,409 shares in 2025) .................. 120,000 4,637,573 4,757,573 TOTAL SHAREHOLDERS' EQUITY ......................................................... 24,848,055 (7,924,979) 16,923,076 Subsidiaries' preferred stock without sinking fund and noncontrolling interests ...................................................................... 94,841 (3,750) 91,091 TOTAL ............................................................................................................ 24,942,896 (7,928,729) 17,014,167 TOTAL LIABILITIES AND EQUITY ........................................................... $ 75,726,104 $ (3,835,374) $ 71,890,730 *T otals may not foot due to rounding. 22 22
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Entergy Corporation Consolidating Income Statement Three Months Ended September 30, 2026 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated OPERATING REVENUES Electric ....................................................................................................... $ 4,352,903 $ — $ 4,352,903 Other .......................................................................................................... — 12,265 12,265 T otal ...................................................................................... 4,352,903 12,265 4,365,168 OPERATING EXPENSES Operating and Maintenance: Fuel, fuel related expenses, and gas purchased for resale ......... 722,931 2,586 725,517 Purchased power ................................................................................ 458,189 5,815 464,004 Nuclear refueling outage expenses ................................................. 29,851 — 29,851 Other operation and maintenance ................................................... 825,274 7,605 832,879 Decommissioning ..................................................................................... 60,193 15 60,208 T axes other than income taxes .............................................................. 240,537 586 241,123 Depreciation and amortization ............................................................... 550,905 496 551,401 Other regulatory charges (credits) - net ............................................... (20,968) — (20,968) T otal ...................................................................................... 2,866,912 17,103 2,884,015 OPERATING INCOME ................................................................................ 1,485,991 (4,838) 1,481,153 OTHER INCOME (DEDUCTIONS) Allowance for equity funds used during construction ......................... 61,413 — 61,413 Interest and investment income ............................................................. 163,875 (63,579) 100,296 Miscellaneous - net .................................................................................. 17,869 (948) 16,921 T otal ..................................................................................... 243,157 (64,527) 178,630 INTEREST EXPENSE Interest expense ....................................................................................... 371,108 89,818 460,926 Allowance for borrowed funds used during construction ................... (25,371) — (25,371) T otal ...................................................................................... 345,737 89,818 435,555 INCOME BEFORE INCOME TAXES ....................................................... 1,383,411 (159,183) 1,224,228 Income taxes .................................................................................................. 299,272 (20,613) 278,659 CONSOLIDATED NET INCOME .............................................................. 1,084,139 (138,570) 945,569 Preferred dividend requirements of subsidiaries and noncontrolling interests ...................................................................................................... 4,755 499 5,254 NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION ....... $ 1,079,384 $ (139,069) $ 940,315 EARNINGS PER AVERAGE COMMON SHARE: BASIC $2.30 ($0.30) $2.00 DILUTED $2.28 ($0.29) $1.98 AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC 470,160,658 DILUTED 474,433,773 *T otals may not foot due to rounding. 23 23
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Entergy Corporation Consolidating Income Statement Three Months Ended September 30, 2025 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated OPERATING REVENUES Electric ....................................................................................................... $ 3,797,177 $ — $ 3,797,177 Natural gas ................................................................................................ 155 — 155 Other .......................................................................................................... — 14,687 14,687 T otal ...................................................................................... 3,797,332 14,687 3,812,019 OPERATING EXPENSES Operating and Maintenance: Fuel, fuel related expenses, and gas purchased for resale ......... 817,038 5,760 822,798 Purchased power ................................................................................ 265,629 4,111 269,740 Nuclear refueling outage expenses ................................................. 25,225 — 25,225 Other operation and maintenance ................................................... 763,966 7,200 771,166 Asset write-offs, impairments, and related charges ............................ 12,795 — 12,795 Decommissioning ..................................................................................... 57,232 81 57,313 T axes other than income taxes .............................................................. 231,792 579 232,371 Depreciation and amortization ............................................................... 523,748 1,637 525,385 Other regulatory charges (credits) - net ............................................... (23,815) — (23,815) T otal ...................................................................................... 2,673,610 19,368 2,692,978 OPERATING INCOME ................................................................................ 1,123,722 (4,681) 1,119,041 OTHER INCOME (DEDUCTIONS) Allowance for equity funds used during construction ......................... 53,887 — 53,887 Interest and investment income ............................................................. 177,587 (71,497) 106,090 Miscellaneous - net .................................................................................. (49,454) (955) (50,409) T otal ..................................................................................... 182,020 (72,452) 109,568 INTEREST EXPENSE Interest expense ....................................................................................... 290,204 56,788 346,992 Allowance for borrowed funds used during construction ................... (22,114) — (22,114) T otal ...................................................................................... 268,090 56,788 324,878 INCOME BEFORE INCOME TAXES ....................................................... 1,037,652 (133,921) 903,731 Income taxes .................................................................................................. 223,065 (17,758) 205,307 CONSOLIDATED NET INCOME .............................................................. 814,587 (116,163) 698,424 Preferred dividend requirements of subsidiaries and noncontrolling interests ...................................................................................................... 4,125 499 4,624 NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION ....... $ 810,462 $ (116,662) $ 693,800 EARNINGS PER AVERAGE COMMON SHARE: BASIC $1.82 ($0.26) $1.55 DILUTED $1.79 ($0.26) $1.53 AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC 446,532,648 DILUTED 453,550,895 *T otals may not foot due to rounding. 24 24
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Entergy Corporation Consolidating Income Statement Nine Months Ended September 30, 2026 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated OPERATING REVENUES Electric ....................................................................................................... $ 11,036,664 $ — $ 11,036,664 Other .......................................................................................................... — 39,768 39,768 T otal ...................................................................................... 11,036,664 39,768 11,076,432 OPERATING EXPENSES Operating and Maintenance: Fuel, fuel related expenses, and gas purchased for resale ......... 2,085,028 11,656 2,096,684 Purchased power ................................................................................ 1,121,944 12,346 1,134,290 Nuclear refueling outage expenses ................................................. 82,427 — 82,427 Other operation and maintenance ................................................... 2,246,439 31,423 2,277,862 Asset write-offs, impairments, and related charges ............................ — 18,059 18,059 Decommissioning ..................................................................................... 178,387 162 178,549 T axes other than income taxes .............................................................. 660,619 1,798 662,417 Depreciation and amortization ............................................................... 1,637,204 2,505 1,639,709 Other regulatory charges (credits) - net ............................................... 82,971 — 82,971 T otal ...................................................................................... 8,095,019 77,949 8,172,968 OPERATING INCOME ................................................................................ 2,941,645 (38,181) 2,903,464 OTHER INCOME (DEDUCTIONS) Allowance for equity funds used during construction ......................... 163,494 — 163,494 Interest and investment income ............................................................. 690,722 (199,708) 491,014 Miscellaneous - net .................................................................................. 1,073 (11,176) (10,103) T otal ..................................................................................... 855,289 (210,884) 644,405 INTEREST EXPENSE Interest expense ....................................................................................... 1,045,842 248,114 1,293,956 Allowance for borrowed funds used during construction ................... (68,408) — (68,408) T otal ...................................................................................... 977,434 248,114 1,225,548 INCOME BEFORE INCOME TAXES ....................................................... 2,819,500 (497,179) 2,322,321 Income taxes .................................................................................................. 559,600 (61,473) 498,127 CONSOLIDATED NET INCOME .............................................................. 2,259,900 (435,706) 1,824,194 Preferred dividend requirements of subsidiaries and noncontrolling interests ...................................................................................................... 14,859 1,497 16,356 NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION ....... $ 2,245,041 $ (437,203) $ 1,807,838 EARNINGS PER AVERAGE COMMON SHARE: BASIC $4.86 ($0.95) $3.92 DILUTED $4.80 ($0.93) $3.86 AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC 461,594,311 DILUTED 467,802,391 *T otals may not foot due to rounding. 25 25
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Entergy Corporation Consolidating Income Statement Nine Months Ended September 30, 2025 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated OPERATING REVENUES Electric ....................................................................................................... $ 9,829,988 $ — $ 9,829,988 Natural gas ................................................................................................ 112,664 — 112,664 Other .......................................................................................................... — 45,090 45,090 T otal ...................................................................................... 9,942,652 45,090 9,987,742 OPERATING EXPENSES Operating and Maintenance: Fuel, fuel related expenses, and gas purchased for resale ......... 1,787,794 15,800 1,803,594 Purchased power ................................................................................ 980,555 11,036 991,591 Nuclear refueling outage expenses ................................................. 87,879 — 87,879 Other operation and maintenance ................................................... 2,139,736 28,560 2,168,296 Asset write-offs, impairments, and related charges ............................ 12,795 — 12,795 Decommissioning ..................................................................................... 169,574 237 169,811 T axes other than income taxes .............................................................. 630,721 2,189 632,910 Depreciation and amortization ............................................................... 1,555,979 4,932 1,560,911 Other regulatory charges (credits) - net ............................................... (96,615) — (96,615) T otal ...................................................................................... 7,268,418 62,754 7,331,172 OPERATING INCOME ................................................................................ 2,674,234 (17,664) 2,656,570 OTHER INCOME (DEDUCTIONS) Allowance for equity funds used during construction ......................... 149,210 — 149,210 Interest and investment income ............................................................. 445,010 (218,095) 226,915 Miscellaneous - net .................................................................................. (74,224) (5,181) (79,405) T otal ..................................................................................... 519,996 (223,276) 296,720 INTEREST EXPENSE Interest expense ....................................................................................... 857,954 180,489 1,038,443 Allowance for borrowed funds used during construction ................... (61,700) — (61,700) T otal ...................................................................................... 796,254 180,489 976,743 INCOME BEFORE INCOME TAXES ....................................................... 2,397,976 (421,429) 1,976,547 Income taxes .................................................................................................. 490,174 (46,427) 443,747 CONSOLIDATED NET INCOME .............................................................. 1,907,802 (375,002) 1,532,800 Preferred dividend requirements of subsidiaries and noncontrolling interests ...................................................................................................... 8,813 1,497 10,310 NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION ....... $ 1,898,989 $ (376,499) $ 1,522,490 EARNINGS PER AVERAGE COMMON SHARE: BASIC $4.33 ($0.86) $3.47 DILUTED $4.25 ($0.84) $3.40 AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC 438,746,880 DILUTED 447,250,827 *T otals may not foot due to rounding. 26 26
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Entergy Corporation Consolidating Income Statement Twelve Months Ended September 30, 2026 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated OPERATING REVENUES Electric ....................................................................................................... $ 13,981,990 $ — $ 13,981,990 Natural gas ................................................................................................ (57) — (57) Other .......................................................................................................... — 53,443 53,443 T otal ...................................................................................... 13,981,933 53,443 14,035,376 OPERATING EXPENSES Operating and Maintenance: .................................................................. Fuel, fuel related expenses, and gas purchased for resale ......... 2,635,581 16,912 2,652,493 Purchased power ................................................................................ 1,369,104 14,593 1,383,697 Nuclear refueling outage expenses ................................................. 107,977 — 107,977 Other operation and maintenance ................................................... 3,119,703 44,960 3,164,663 Asset write-offs, impairments, and related charges ............................ — 18,059 18,059 Decommissioning ..................................................................................... 236,369 245 236,614 T axes other than income taxes .............................................................. 845,798 2,373 848,171 Depreciation and amortization ............................................................... 2,152,279 4,211 2,156,490 Other regulatory charges (credits) - net ............................................... 18,040 — 18,040 T otal ...................................................................................... 10,484,851 101,353 10,586,204 OPERATING INCOME ................................................................................ 3,497,082 (47,910) 3,449,172 OTHER INCOME (DEDUCTIONS) Allowance for equity funds used during construction ......................... 195,010 — 195,010 Interest and investment income ............................................................. 850,715 (269,268) 581,447 Miscellaneous - net .................................................................................. (10,538) (12,581) (23,119) T otal ..................................................................................... 1,035,187 (281,849) 753,338 INTEREST EXPENSE Interest expense ....................................................................................... 1,349,909 318,559 1,668,468 Allowance for borrowed funds used during construction ................... (83,012) — (83,012) T otal ...................................................................................... 1,266,897 318,559 1,585,456 INCOME BEFORE INCOME TAXES ....................................................... 3,265,372 (648,318) 2,617,054 Income taxes .................................................................................................. 620,698 (68,366) 552,332 CONSOLIDATED NET INCOME .............................................................. 2,644,674 (579,952) 2,064,722 Preferred dividend requirements of subsidiaries and noncontrolling interests ...................................................................................................... 19,105 1,997 21,102 NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION ....... $ 2,625,569 $ (581,949) $ 2,043,620 EARNINGS PER AVERAGE COMMON SHARE: BASIC $5.72 ($1.27) $4.45 DILUTED $5.64 ($1.25) $4.39 AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC 459,118,107 DILUTED 465,531,748 *T otals may not foot due to rounding. 27 27
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Entergy Corporation Consolidating Income Statement Twelve Months Ended September 30, 2025 (Dollars in thousands) (Unaudited) Utility Parent & Other Consolidated OPERATING REVENUES Electric ....................................................................................................... $ 12,507,347 $ — $ 12,507,347 Natural gas ................................................................................................ 157,392 — 157,392 Other .......................................................................................................... — 65,308 65,308 T otal ...................................................................................... 12,664,739 65,308 12,730,047 OPERATING EXPENSES Operating and Maintenance: Fuel, fuel related expenses, and gas purchased for resale ......... 2,246,564 26,756 2,273,320 Purchased power ................................................................................ 1,169,853 19,055 1,188,908 Nuclear refueling outage expenses ................................................. 122,078 — 122,078 Other operation and maintenance ................................................... 2,910,034 44,807 2,954,841 Asset write-offs, impairments, and related charges (credits) ............ 12,795 (24,641) (11,846) Decommissioning ..................................................................................... 226,684 313 226,997 T axes other than income taxes .............................................................. 810,961 2,820 813,781 Depreciation and amortization ............................................................... 2,063,937 6,637 2,070,574 Other regulatory charges (credits) - net ............................................... (234,791) — (234,791) T otal ...................................................................................... 9,328,115 75,747 9,403,862 OPERATING INCOME ................................................................................ 3,336,624 (10,439) 3,326,185 OTHER INCOME (DEDUCTIONS) Allowance for equity funds used during construction ......................... 193,060 — 193,060 Interest and investment income ............................................................. 533,249 (293,069) 240,180 Miscellaneous - net .................................................................................. (100,184) (8,965) (109,149) T otal ..................................................................................... 626,125 (302,034) 324,091 INTEREST EXPENSE Interest expense ....................................................................................... 1,108,638 245,885 1,354,523 Allowance for borrowed funds used during construction ................... (78,880) — (78,880) T otal ...................................................................................... 1,029,758 245,885 1,275,643 INCOME BEFORE INCOME TAXES ....................................................... 2,932,991 (558,358) 2,374,633 Income taxes .................................................................................................. 621,049 (66,378) 554,671 CONSOLIDATED NET INCOME .............................................................. 2,311,942 (491,980) 1,819,962 Preferred dividend requirements of subsidiaries and noncontrolling interests ...................................................................................................... 9,028 1,997 11,025 NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION ....... $ 2,302,914 $ (493,977) $ 1,808,937 EARNINGS PER AVERAGE COMMON SHARE: BASIC $5.28 ($1.13) $4.15 DILUTED $5.18 ($1.11) $4.07 AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC 436,362,749 DILUTED 444,900,016 *T otals may not foot due to rounding. 28 28
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Entergy Corporation Consolidated Cash Flow Statement Three Months Ended September 30, 2026 vs. 2025 (Dollars in thousands) (Unaudited) 2026 2025 Variance OPERATING ACTIVITIES Consolidated net income ........................................................................................................... $ 945,569 $ 698,424 $ 247,145 Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: Depreciation, amortization, and decommissioning, including nuclear fuel amortization ... 680,991 646,204 34,787 Deferred income taxes, tax credits, and non-current taxes accrued .................................... 500,805 615,477 (114,672) Asset write-offs, impairments, and related charges ................................................................. — 12,795 (12,795) Changes in working capital: ........................................................................................................ Receivables ................................................................................................................................ (406,885) (114,995) (291,890) Fuel inventory ............................................................................................................................. 18,824 25,689 (6,865) Accounts payable ....................................................................................................................... (96,824) 73,523 (170,347) T axes accrued ............................................................................................................................ 160,408 166,285 (5,877) Interest accrued ......................................................................................................................... 88,882 20,824 68,058 Deferred fuel costs .................................................................................................................... (32,601) 73,247 (105,848) Customer advances - current .................................................................................................. 362,706 (10,378) 373,084 Other working capital accounts ............................................................................................... 6,685 (13,022) 19,707 Changes in provisions for estimated losses ............................................................................. 4,465 12,910 (8,445) Changes in other regulatory assets ........................................................................................... (12,856) 130,228 (143,084) Changes in other regulatory liabilities ........................................................................................ (116,346) 123,808 (240,154) Change in customer advances - non-current ........................................................................... 18,100 — 18,100 Changes in pension and other postretirement funded status ................................................ (45,413) (48,916) 3,503 Other ............................................................................................................................................... 158,424 (277,308) 435,732 Net cash flow provided by operating activities..................................................................... 2,234,934 2,134,795 100,139 INVESTING ACTIVITIES Construction/capital expenditures ............................................................................................... (2,712,543) (1,888,823) (823,720) Allowance for equity funds used during construction ................................................................ 61,413 44,854 16,559 Nuclear fuel purchases ................................................................................................................... (67,105) (36,990) (30,115) Payment for purchase of plant and assets .................................................................................. — (1,909) 1,909 Proceeds from sale of business and assets ............................................................................... — 506,781 (506,781) Changes in securitization account ................................................................................................ (8,647) (8,020) (627) Payments to storm reserve escrow accounts ............................................................................. (2,810) (3,172) 362 Decrease (increase) in other investments ................................................................................... (8,395) (45,110) 36,715 Proceeds from nuclear decommissioning trust fund sales ....................................................... 510,373 378,343 132,030 Investment in nuclear decommissioning trust funds .................................................................. (520,719) (416,497) (104,222) Net cash flow used in investing activities .............................................................................. (2,748,433) (1,470,543) (1,277,890) FINANCING ACTIVITIES Proceeds from the issuance of: Long-term debt ............................................................................................................................ 3,030,999 523,969 2,507,030 Treasury stock ............................................................................................................................. 1,755 10,728 (8,973) Common stock ............................................................................................................................ 912,458 — 912,458 Retirement of long-term debt ...................................................................................................... (1,414,493) (1,429,366) 14,873 Changes in commercial paper - net ........................................................................................... (1,437,299) 939,289 (2,376,588) Customer advances received for construction ......................................................................... 385,951 99,188 286,763 Customer advances used for construction ................................................................................ (305,190) (188,224) (116,966) Other ............................................................................................................................................... (6,454) (5,979) (475) Dividends paid: Common stock ........................................................................................................................... (298,653) (267,939) (30,714) Preferred stock ........................................................................................................................... (4,580) (4,580) — Net cash flow provided by financing activities ..................................................................... 864,494 (322,914) 1,187,408 Net increase in cash and cash equivalents ........................................................................... 350,995 341,338 9,657 Cash and cash equivalents at beginning of period ............................................................. 3,854,045 1,175,631 2,678,414 Cash and cash equivalents at end of period ......................................................................... $ 4,205,040 $ 1,516,969 $ 2,688,071 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid (received) during the period for: Interest - net of amount capitalized ......................................................................................... $ 327,199 $ 315,677 $ 11,522 Income taxes - net (includes proceeds from the transfer of production tax credit sale proceeds to third parties) ...................................................................................................... $ (222,357) $ (405,174) $ 182,817 Noncash investing activities: Accrued construction expenditures ........................................................................................ $ (94,155) $ (31,537) $ (62,618) 29 29
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Entergy Corporation Consolidated Cash Flow Statement Year to Date September 30, 2026 vs. 2025 (Dollars in thousands) (Unaudited) 2026 2025 Variance OPERATING ACTIVITIES Consolidated net income ........................................................................................................... $ 1,824,194 $ 1,532,800 $ 291,394 Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: Depreciation, amortization, and decommissioning, including nuclear fuel amortization ... 2,007,130 1,901,408 105,722 Deferred income taxes, tax credits, and non-current taxes accrued .................................... 721,695 846,751 (125,056) Asset write-offs, impairments, and related charges ................................................................. 18,059 12,795 5,264 Changes in working capital: ........................................................................................................ Receivables ................................................................................................................................ (632,376) (390,040) (242,336) Fuel inventory ............................................................................................................................. 13,145 20,837 (7,692) Accounts payable ....................................................................................................................... 37,294 20,084 17,210 T axes accrued ............................................................................................................................ 172,609 177,515 (4,906) Interest accrued ......................................................................................................................... 134,390 43,691 90,699 Deferred fuel costs .................................................................................................................... (164,173) (189,958) 25,785 Customer advances - current .................................................................................................. 1,103,683 293,414 810,269 Other working capital accounts ............................................................................................... (112,081) (71,842) (40,239) Changes in provisions for estimated losses ............................................................................. (19,145) (25,534) 6,389 Changes in other regulatory assets ........................................................................................... 121,414 304,751 (183,337) Changes in other regulatory liabilities ........................................................................................ (83,354) 143,848 (227,202) Change in customer advances - non-current ........................................................................... 153,398 25,000 128,398 Changes in pension and other postretirement funded status ................................................ (150,808) (153,884) 3,076 Other ............................................................................................................................................... (188,387) (559,051) 370,664 Net cash flow provided by operating activities..................................................................... 4,956,687 3,932,585 1,024,102 INVESTING ACTIVITIES Construction/capital expenditures ............................................................................................... (7,743,362) (5,557,149) (2,186,213) Allowance for equity funds used during construction ................................................................ 163,494 128,015 35,479 Nuclear fuel purchases ................................................................................................................... (266,873) (166,114) (100,759) Payment for purchase of plant and assets .................................................................................. (263) (3,517) 3,254 Proceeds from sale of business and assets ............................................................................... — 506,781 (506,781) Insurance proceeds received for property damages ................................................................ 14,282 — 14,282 Changes in securitization account ................................................................................................ (8,432) (4,711) (3,721) Payments to storm reserve escrow accounts ............................................................................. (8,361) (9,980) 1,619 Receipts from storm reserve escrow accounts .......................................................................... — 43,789 (43,789) Decrease (increase) in other investments ................................................................................... 57,153 (46,769) 103,922 Litigation proceeds for reimbursement of spent nuclear fuel storage costs ........................... — 3,546 (3,546) Proceeds from nuclear decommissioning trust fund sales ....................................................... 2,058,540 1,091,445 967,095 Investment in nuclear decommissioning trust funds .................................................................. (2,107,557) (1,196,708) (910,849) Net cash flow used in investing activities .............................................................................. (7,841,379) (5,211,372) (2,630,007) FINANCING ACTIVITIES Proceeds from the issuance of: Long-term debt ............................................................................................................................ 7,656,847 4,041,918 3,614,929 Treasury stock ............................................................................................................................. 13,289 35,267 (21,978) Common stock ............................................................................................................................ 1,929,629 804,631 1,124,998 Retirement of long-term debt ...................................................................................................... (3,279,359) (3,029,094) (250,265) Changes in commercial paper - net ........................................................................................... (525,577) 487,603 (1,013,180) Customer advances received for construction ......................................................................... 1,271,818 831,642 440,176 Customer advances used for construction ................................................................................ (741,411) (433,705) (307,706) Other ............................................................................................................................................... (266,129) (3,815) (262,314) Dividends paid: Common stock ........................................................................................................................... (884,552) (784,655) (99,897) Preferred stock ........................................................................................................................... (13,739) (13,739) — Net cash flow provided by financing activities ..................................................................... 5,160,816 1,936,053 3,224,763 Net increase in cash and cash equivalents ........................................................................... 2,276,124 657,266 1,618,858 Cash and cash equivalents at beginning of period ............................................................. 1,928,916 859,703 1,069,213 Cash and cash equivalents at end of period ......................................................................... $ 4,205,040 $ 1,516,969 $ 2,688,071 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid (received) during the period for: Interest - net of amount capitalized ......................................................................................... $ 1,011,196 $ 963,577 $ 47,619 Income taxes - net (includes proceeds from the transfer of production tax credit sale proceeds to third parties) ...................................................................................................... $ (224,658) $ (402,687) $ 178,029 Noncash investing activities: Accrued construction expenditures ........................................................................................ $ 908,486 $ 545,455 $ 363,031 30 30
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Entergy Corporation Consolidated Cash Flow Statement Twelve Months Ended September 30, 2026 vs. 2025 (Dollars in thousands) (Unaudited) 2026 2025 Variance OPERATING ACTIVITIES Consolidated net income ........................................................................................................... $ 2,064,722 $ 1,819,962 $ 244,760 Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: Depreciation, amortization, and decommissioning, including nuclear fuel amortization ... 2,642,860 2,523,712 119,148 Deferred income taxes, tax credits, and non-current taxes accrued .................................... 890,453 932,763 (42,310) Asset write-offs, impairments, and related charges (credits) ................................................. 18,059 (11,846) 29,905 Pension settlement charge ......................................................................................................... — 2,937 (2,937) Changes in working capital: ........................................................................................................ Receivables ................................................................................................................................ (322,169) (113,864) (208,305) Fuel inventory ............................................................................................................................. 31,235 6,082 25,153 Accounts payable ....................................................................................................................... 55,965 269,191 (213,226) T axes accrued ............................................................................................................................ 63,177 63,596 (419) Interest accrued ......................................................................................................................... 116,802 30,210 86,592 Deferred fuel costs .................................................................................................................... (245,324) (215,743) (29,581) Customer advances - current .................................................................................................. 1,291,456 445,076 846,380 Other working capital accounts ............................................................................................... (224,712) (117,208) (107,504) Changes in provisions for estimated losses ............................................................................. (3,895) (1,367) (2,528) Changes in other regulatory assets ........................................................................................... 101,577 501,221 (399,644) Changes in other regulatory liabilities ........................................................................................ (46,391) 237,956 (284,347) Change in customer advances - non-current ........................................................................... 163,398 25,000 138,398 Changes in pension and other postretirement funded status ............................................... (275,110) (431,659) 156,549 Other ............................................................................................................................................... (147,350) (653,751) 506,401 Net cash flow provided by operating activities..................................................................... 6,174,753 5,312,267 862,485 INVESTING ACTIVITIES Construction/capital expenditures ............................................................................................... (9,871,135) (7,130,632) (2,740,503) Allowance for equity funds used during construction ................................................................ 216,205 171,865 44,340 Nuclear fuel purchases ................................................................................................................... (353,671) (268,825) (84,846) Payment for purchase of plant ...................................................................................................... (263) (280,913) 280,650 Proceeds from sale of business and assets ............................................................................... 351,807 506,781 (154,974) Insurance proceeds received for property damages ................................................................ 14,282 — 14,282 Changes in securitization account ................................................................................................ (887) 2,226 (3,113) Payments to storm reserve escrow accounts ............................................................................. (13,275) (14,033) 758 Receipts from storm reserve escrow accounts .......................................................................... 2,781 43,789 (41,008) Decrease (increase) in other investments ................................................................................... (9,466) (50,369) 40,903 Litigation proceeds for reimbursement of spent nuclear fuel storage costs ........................... — 85,958 (85,958) Proceeds from nuclear decommissioning trust fund sales ....................................................... 2,477,092 2,177,248 299,844 Investment in nuclear decommissioning trust funds .................................................................. (2,552,931) (2,301,862) (251,069) Net cash flow used in investing activities .............................................................................. (9,739,461) (7,058,767) (2,680,694) FINANCING ACTIVITIES Proceeds from the issuance of: Long-term debt ............................................................................................................................ 9,365,374 4,999,024 4,366,350 Treasury stock ............................................................................................................................. 14,663 75,613 (60,950) Common stock ............................................................................................................................ 2,261,101 804,631 1,456,470 Retirement of long-term debt ...................................................................................................... (3,752,065) (3,883,239) 131,174 Changes in commercial paper - net ........................................................................................... (1,282,697) 292,485 (1,575,182) Customer advances received for construction ......................................................................... 2,083,941 1,143,195 940,746 Customer advances used for construction ................................................................................ (970,602) (505,894) (464,708) Other ............................................................................................................................................... (274,569) (13,500) (261,069) Dividends paid: Common stock ........................................................................................................................... (1,174,048) (1,042,339) (131,709) Preferred stock ........................................................................................................................... (18,319) (18,319) — Net cash flow provided by financing activities ..................................................................... 6,252,779 1,851,657 4,401,122 Net increase in cash and cash equivalents ........................................................................... 2,688,071 105,157 2,582,913 Cash and cash equivalents at beginning of period ............................................................. 1,516,969 1,411,812 105,157 Cash and cash equivalents at end of period ......................................................................... $ 4,205,040 $ 1,516,969 $ 2,688,071 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid (received) during the period for: Interest - net of amount capitalized ......................................................................................... $ 1,285,903 $ 1,282,935 $ 2,968 Income taxes - net (includes proceeds from the transfer of production tax credit sale proceeds to third parties) ............................................................................................................... $ (337,042) $ (369,925) $ 32,883 Noncash investing activities: Accrued construction expenditures ........................................................................................ $ 1,163,078 $ 740,732 $ 422,346 31 31