Modified · Acquisition of Calpine Corporation

In March 2026, we entered into an agreement with LS Power Equity Advisors, LLC to sell five natural gas-fired generating facilities with approximately 4.4 GWs of capacity from Calpine's portfolio of generation assets located in PJM to satisfy regulatory commitments related to our acquisition of Calpine. The transaction is valued at $5.0 billion before closing adjustments and remains subject . In August 2026, we entered into an agreement with LS Power to customary closing conditionsdivest the Brazos Valley Energy Center (f/k/a Jack A. Fusco Energy Center), including receipt of applicable regulatory approvalsa 606 MW natural gas-fired plant in ERCOT for $860 million before closing adjustments. Completion of this transaction, together with the planned divestiture of an additional ERCOT facilitythese transactions is subject to customary closing conditions and receipt of applicable regulatory approvals, and is expected to satisfy the remaining regulatory commitments related to the merger. We expect the transactions to close by the end of this year.