A：The reported non GAAP EPS for the second quarter of 2026 was 37 cents per diluted share.

A：The capital investment plan has been increased by $1.2 billion, driven by anticipated modest system upgrades to connect large load customers in Texas and continued progress related to the Downtown Houston Revitalization Project.

A：The non GAAP EPS guidance range reiterated for 2026 is between $1.99 and $2.01 per share.

A：Prospective large customers have made substantial investment commitments, which have enabled significant project emissions. This reflects the strength of electric demand growth and gives greater confidence in the acceleration and durability of the growth. It also supports the progression of projects through the process.

A：The 14 GW of projects eligible for batch 0 are projected to increase the system peak demand by over 65%, representing an increase of more than 65% from Houston Electrics current system peak of 21 GW.

A：The expectation is that nearly all of the 14 GW of projects will be energized by the end of 2030.

A：The new projects are expected to support customer affordability by allowing residential and commercial electric customers to save over $5 billion collectively over the next decade through the addition of the 14 GW of eligible baseload and study load projects.

A：The additional investments have led to an expectation of a Houston electric rate base CAGR of over 18% over the next three years. However, these investments do not result in any increased equity needs, and the company maintains visibility to further capital investments without needing additional equity financing.

A：There are large load customer opportunities in the Indian Electric Service territory, one of which would be the single largest load served in that region. Work has already begun to serve this load, and the company is engaged with multiple parties for additional large load projects in the area. These investments would be incremental and outside of the company's current base plan.

A：The second quarter financial results showed a GAAP EPS of 37 cents and a non-GAAP EPS of 40 cents. Earnings growth was driven by rate recovery contributing 10 cents of favorability, efficiencies from the accelerated vegetation management program contributing 2 cents, and an adjustment for milder weather and other factors leading to a 5% reduction in usage or $0.05 unfavorable. The company remains confident in delivering its full-year non-GAAP EPS guidance range of $1.89 to $1.91.

A：The company has made progress in capital and customer-driven investments, having filed for distribution investment tracker increases and expecting updates to customer delivery charges in November. They also expect to file a second capital tracker for transmission investments and a settlement agreement that will reduce customer electric delivery charges. In Texas gas, an annual capital investment recovery filing was approved with new rates effective in June. Rate cases are being prepared for Minnesota and North and South Indiana Gas by the end of the year. The company is on track with its capital plan, having invested $1.5 billion in the second quarter and expecting larger projects to be placed in service in the second half of the year. They remain on track to execute $6.8 billion of planned capital investments for the year.

A：The company anticipates meaningfully higher cash flow from new demand charges of approximately $6 million per gigawatt per month as it energizes the anticipated 14 GW of new load over the next five years.

A：The company continues to target a consolidated capital structure of approximately 47% equity and 53% debt. As of the end of the second quarter, the adjusted FFO to debt ratio based on Moody's rating methodology was 13.4%, representing a nearly 100 basis point improvement from Q1. The company anticipates continued expansion of this ratio, in part due to a tax refund related to the previously paid corporate alternative minimum tax.

A：The company is reiterating its 2026 non GAAP earnings guidance, targeting at least the midpoint of $1.89 to $1.91 per share, which represents an 8% increase over 2025 delivered results. The company expects to grow non GAAP EPS at the mid to high end of its 7 to 9% range from 2026 through 2028, and over the long term, expects to grow non-GAAP EPS 7 to 9% annually through 2035.

A：The company has made meaningful progress advancing significant growth opportunities across its service territories. The progress in Houston and the opportunities in Indiana are expected to meaningfully drive economic development and improve customer affordability. The company is confident in its ability to execute on these growth initiatives, supported by anticipated future financing tailwinds and continued customer-driven growth opportunities.

A：The historical data on transmission study range and cash benefits are still relevant as potential tailwinds. The company continues to see significant cash flow from demand charges related to these customers. The substantial growth announced indicates a very significant cash tailwind in the coming years.

A：Investors should consider the company's history and track record of efficiently financing CapEx growth. The company aims to maintain a healthy balance sheet while being creative in utilizing cash tailwinds such as the remarketing of temporary generating units and incremental demand charges from new load growth to fund transmission and related investments without overly impacting the balance sheet.

A：Further asset optimization is part of the company's strategy to enhance value for shareholders. If it involves asset recycling, the company may consider it, as demonstrated by the Ohio transaction that was staged with a seller note and minimal equity requirement.

A：The company remains optimistic about the data center opportunity in Indiana and is making meaningful progress. While specific details on the need for incremental generation were not provided, it is mentioned that the costs associated with incremental generation are outside of the CapEx update and will require some level of equity to support the significant increase in CapEx growth.

A：The company is expecting the affordability report and conference to address certain aspects, although specific details were not provided. The company is continuing with the current filing path for the state on both the gas and electric side.

A：The current time frame for the consolidated gas cases is the end of 2020. The focus of the upcoming technical conference in August is on encouraging and enabling economic development to ensure ongoing affordability for customers, which includes attractive new loads that spread the cost, enhance the property tax base, and provide long-term growth opportunities.

A：The company has taken several steps to focus on customer affordability, including a $50 million obligation related to the closure of coal facilities, returns passed back to customers from the securitization of the coal plant, and a commitment to keeping electric rates stable.

A：The company plans to provide a more comprehensive transmission study update in the second half of the year. The need for additional capacity arises from more growth than anticipated, particularly from data centers, energy-related logistics, and industries, with no indication that this growth is slowing down.

A：The company's updated plan does not yet reflect the full benefit from demand charges of large customer loads, nor has it incorporated the full benefit from resolving temporary generation units. Additionally, the projected corporate tax amount for 2027 is not reflected in the outlook, hence not all incremental revenue from large loads is currently incorporated into the plan.

A：The company is working on advancing interconnections for Indiana customers and hopes to provide an update on investment opportunities and potential savings before the end of the year. The initial level of demand in Indiana could support about $250 million in residential customer savings over the next 15 years.

A：Yes, the 65% growth rate mentioned for Texas does not include the growth expected from distribution level customers. The company is seeing an uptick in distribution level demand, which will contribute to additional growth beyond the 65% attributed solely to large loads.