CenterPoint Energy, Inc. Q4 FY2025 earnings call

• Extended appreciation to frontline team members for their work, including responding to severe weather and reducing outage minutes. • Addressed strong execution over Q4 and 2025 with 9% EPS growth for the fourth time in five years. • Discussed accelerated growth in Houston Electric business with peak load demand increase by 50% by 2029. • Announced adding $500,000,000 of incremental capital to the ten-year $65,000,000,000 capital investment plan for an additional 765 kV import line. • Detailed fourth quarter and full year financial results, including drivers of earnings like rate recovery, weather and usage, O&M, and interest expense. • Mentioned recent regulatory activity such as final order in Ohio gas LDC rate case and upcoming rate cases in Minnesota and Indiana. • Talked about capital investments execution, including exceeding 2025 plan and reaffirming 2026 plan, and updated transmission planning. • Discussed credit metrics and balance sheet, including securitization bonds and impact of U.S. Treasury Department guidance on corporate alternative minimum tax.

No specific product segments detailed in the transcript. GAAP EPS was $0.40 for Q4 and $1.60 for full year 2025. Non-GAAP EPS was $0.45 for Q4 and $1.76 for full year 2025. Houston Electric business has peak load demand forecasted to increase by 50% (an additional 10 gigawatts) by 2029, two years earlier than previously planned. Capital investment plan increased by $500,000,000 to over $65,000,000,000 over ten years with over $10,000,000,000 of incremental opportunities.

• Reaffirmed 2026 non-GAAP earnings guidance of $1.89 to $1.91, an 8% increase at midpoint from 2025 delivered results. • Expect to grow non-GAAP EPS at mid to high end of 7% to 9% long-term annual guidance range through 2028, and 7% to 9% annually through 2035. • Anticipate return to more typical and timely filing cadence in 2026 for stronger and more consistent rate recovery.

• Risks associated with forward-looking statements subject to various factors as noted in Form 10-K, other SEC filings, and earnings materials. • Potential challenges with supply chain and labor constraints impacting CapEx execution. • Uncertainty related to regulatory process and changes such as ERCOT's batching and study process changes affecting interconnection queue timing and in-service dates.

• Q: Asked about updating transmission planning study, timing and upside potential.

A: Separated $500,000,000 capital related to 765 kV line, internally accelerated transmission planning, expect update in second half of year on incremental transmission projects needed. • Q: Framed growth and its impact on CapEx and EPS trajectory.

A: Growth is strong tailwind, large load interconnections use existing capacity, may create need for more import and intraregional transmission, projects likely impact CapEx towards end of decade. • Q: Asked about ERCOT's batching and study process changes and approval slowdowns.

A: Supportive of overall direction, have been disciplined in ERCOT queue, large load interconnection applications processed within 70 days, expect projects to come online in 2027-2028 timeline. • Q: Asked about excess capacity and filling buckets.

A: Making dent in excess capacity, base plan allowed to stay in front of needs, estimate shy of 10 gigs existing capacity, working on transmission projects to unlock more. • Q: Asked about pricing to customers and data center opportunity in Indiana.

A: Growth helps keep customer bills flat, continue to have active conversations in Indiana, Texas has capacity at scale for data centers. • Q: Asked about balance sheet capacity and future divestitures of gas business.

A: Will constantly look at what makes most sense, capital recycling has been efficient, will stay open-minded on financing growth. • Q: Asked about fourth-quarter electric volumes and noise in data.

A: Commercial and industrial trends positive, continue to see long-term growth potential with new jobs from investments like Eli Lilly's. • Q: Asked about CapEx update, increase in plan and gas spending change.

A: Increase driven by 765 kV line, flexible on gas side based on executability and demands.