PPL Corporation Investor Presentation — November 2022

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PPL Investor Presentation

EEI Financial Conference

November 14 -15, 20222Cautionary Statements and Factors That May Affect

Statements made inthis presentation about future operating results orother future events, including theanticipated effects oftheacquisition ofThe

Narragansett Electric Company (Narragansett) from National Grid, and theimpact ofthetransaction onPPL Corporation, areforward -looking statements

under theSafe Harbor provisions ofthePrivate Securities Litigation Reform Actof1995 .Actual results may differ materially from theforward -looking

statements .Adiscussion ofsome ofthefactors that could cause actual results orevents tovary iscontained intheAppendix ofthispresentation and in

Management utilizes non-GAAP financial measures such as,“earnings from ongoing operations,” “adjusted gross margins” or“margins” inthis

presentation .Foradditional information onnon-GAAP financial measures and reconciliations totheappropriate GAAP measure, refer totheAppendix of

thispresentation andPPL’s SEC filings .3

CUSTOMERS SERVICE AREA SERVICES

PPL Electric Utilities1.4M Electric 10,000mi2•Electric Distribution

•Electric Transmission

LG&E and KU1.0M Electric

0.3M Gas9,400mi2•Electric Distribution

•Electric Transmission

•Regulated Generation

Rhode Island Energy 0.5M Electric

0.3M Gas1,200mi2•Electric Distribution

•Electric Transmission

Market Capitalization

3(1) Represents 2022 estimated average rate base (average of 2021A and 2022 estimated year -end rate base).

(2) Represent 2022 pro forma operating revenues.

(3) As of November 8, 2022.

(4) Narragansett Electric has been rebranded as “Rhode Island Energy.”(3)(1)

Represents service territory

Achieve industry leading

performance in safety,

reliability, customer

efficiencyMaintain a strong

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