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The presentations contained within this section of investor.pseg.com are presented for general information purposes only and include forward-looking statements that are subject to various risks and uncertainties. Actual results may differ from those anticipated. Information provided is as of the date specified on each presentation. Although we may elect to update this information from time to time, we specifically disclaim any obligation to do so unless required to do so. These materials may also contain non-GAAP financial information. For additional information about PSEG, please refer to our SEC Forms 10-K, 10-Q, 8-K, and other filings for a discussion of factors that may cause results to differ from management's projections, forecasts and expectations, and for a reconciliation of non-GAAP financial information to GAAP results. View PSEG's Forward Looking Statement and GAAP disclaimer and Privacy Policy.

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Public Service Enterprise Group (NYSE: PEG) is a publicly traded, diversified energy holding company headquartered in Newark, New Jersey with total assets of approximately $50 billion as of September 30, 2020. PSEG's three operating subsidiaries are Public Service Electric & Gas (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company, included in the S&P 500 Index, and was named to the Dow Jones Sustainability Index -- North America for the 13th year in a row in 2020.

PSEG issues long-term debt at three entities, at the Parent level at PSEG and at the subsidiary level at PSE&G and PSEG Power. PSE&G provides electric transmission and electric and gas distribution service to 2.3 million electric and 1.9 million gas customers in a 2,600 square mile service territory in New Jersey, covering approximately 70% of the state's population. In 2020, PSE&G was recognized as the most reliable electric utility in the Mid-Atlantic region for the 19th year in a row by ReliabilityOneTM. PSEG Power owns an 11 gigawatt fleet of efficient generating assets predominantly in the Northeast and Mid- Atlantic regions of the United States that are geographically well positioned and possess a low carbon footprint.

In April, PSEG issued our inaugural Climate Report following the framework established by the Task Force on Climate-related Financial Disclosures (TCFD). The Climate Report also details our support for the preservation of nuclear generation, implementation of energy efficiency to curb greenhouse gas emissions, and advocacy for effective climate policies.

In July, PSEG announced that it would explore strategic alternatives for PSEG Power’s non-nuclear generating fleet. Our intent is to accelerate the transformation of PSEG into a primarily regulated electric and gas utility -- a plan we have been executing successfully for over a decade. Given the relatively small part of PSEG that the non-nuclear business represents, this decision will not have an impact on the company’s current shareholder dividend policy, which will continue to be subject to approval by the PSEG Board of Directors.

Our business model is working the way it should: Operational excellence is producing the financial strength that allows us to invest in a disciplined way for growth. PSEG's robust 5-year, $13 to $15.7 billion capital spending forecast (2020 to 2024) will be mainly directed at PSE&G's capital program. We are executing well on our capital investments and our strong balance sheet allows us to fund our current capital spending program and support the opportunity for dividend growth without the need to issue new equity. We increased our 2020 indicative annual dividend by $0.08 to $1.96 per share, which marks our 16th increase in the last 17 years, and PSEG's 113th consecutive year of paying a dividend to our shareholders.

Assets (as of 9/30/20): $49.6B

Long-Term Debt Outstanding (as of 9/30/20): $3.5B*

Sr. Unsecured Issuer Rating: Baa1 / BBB **

Regulated Electric & Gas T&D

Assets (as of 9/30/20): $34.8B

Long-Term Debt Outstanding (as of 9/30/20): $10.9B*

Sr. Secured Issuer Rating: Aa3 / A **

Wholesale Energy

Assets (as of 9/30/20): $12.7B

Long-Term Debt Outstanding (as of 9/30/20): $2.4B*

Sr. Unsecured Issuer Rating: Baa1 / BBB **

T&D=Transmission and Distribution

*Long-Term Debt Outstanding includes Long-Term Debt due within one year and is adjusted for net unamortized discount and debt issuance costs; subsidiary debt may not add to consolidated debt due to rounding.

**Issuer Credit Ratings are as of October 30, 2020 for Moody's/S&P. A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time. Each credit rating should be evaluated independently of any other credit rating.

PSEG - Capital Spending Forecast

PSEG Power

2019A - 2022E Capital Spending1

PSEG_Power

PSE&G

2020E - 2022E Capital Spending1

PSEG_Power

NOTE: HASHED PORTION OF THE CHART REPRESENTS UNAPPROVED PORTION OF CEF FILINGS.

(1) CAPITAL SPENDING INCLUDES INTEREST DURING CONSTRUCTION AND ALLOWANCE FOR FUNDS USED DURING CONSTRUCTION, EXCLUDES NUCLEAR FUEL. A=ACTUAL; E=ESTIMATE; EC=ENERGY CLOUD/AUTOMATED METERING INFRASTRUCTURE; EV=ELECTRIC VEHICLE INFRASTRUCTURE; ES=ENERGY STORAGE

Debt Maturity Profile

As of September 30, 2020

Debt Maturity Profile

NOTE: PSEG POWER PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY BONDS ARE CLASSIFIED AS MATURING IN 2022 FOR ACCOUNTING PURPOSES; PROFILE SHOWS THEIR FINAL MATURITY IN 2042.

 

this webpage contains forward-looking information. actual results may differ from those anticipated. information describing the significant factors that could cause results to differ from those anticipated are described in public service enterprise group’s filings with the sec, which are available on our website https://investor.pseg.com. information provided is as of October 30, 2020 unless otherwise noted. any forward-looking statements included herein represent our estimates as of this date, and we disclaim any obligation to update the information provided. all future decisions regarding dividends on the common stock are subject to approval by the board of directors.