Duke Energy reported $1.57 billion net income for Q3 2026

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For the quarterly period ended June September 30, 2026

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Duke Energy Corporate Units DUKU New York Stock Exchange LLC

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Number of shares of common stock outstanding at July October 31, 2026:

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Duke Energy Common stock, $0.001 par value 779,702,193 779,708,297

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Exhibits 1 change

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National Methanol Company

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Forward-looking statements 1 change

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◦ The costs of associated with life extension, power uprate projects, fuel-cycle extensions or decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process;

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Financial statements 1200 changes

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Three Months Ended June September 30, 2025 and 2026

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Balance at March 31, 2025 $ 1,635 $ 3,009 $ — $ 4,644 $ 1 $ 4,645

Net income (loss) — ( 10 ) — ( 10 ) — ( 10 )

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Balance at March 31, 2026 $ 1,635 $ 2,488 $ (18) $ 4,105 $ 1 $ 4,106

Other comprehensive income (loss) — — 4 4 — 4

Net income (loss) — 3 ( 3 38 ) 3 — ( 38 ) — ( 38 )

Dividends to parent — ( 40 ) — ( 40 ) — ( 40 )

Balance at September 30, 2025 $ 1,635 $ 2,922 $ — $ 4,557 $ 1 $ 4,558

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Net income (loss) — ( 29 ) — ( 29 ) — ( 29 )

Other comprehensive income (loss) — — 1 1 — 1

Balance at September 30, 2026 $ 1,635 $ 2,462 $ ( 13 ) $ 4,084 $ 1 $ 4,085

Six Nine Months Ended June September 30, 2025 and 2026

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Balance at June 30, 2025 $ 1,635 $ 3,000 $ — $ 4,635 $ 1 $ 4,636

Net income (loss) — 281 243 — 281 243 — 281 243

Balance at September 30, 2025 $ 1,635 $ 2,922 $ — $ 4,557 $ 1 $ 4,558

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Balance at June 30, 2026 $ 1,635 $ 2,491 $ ( 14 ) $ 4,112 $ 1 $ 4,113

Net income (loss) — 773 744 — 773 744 — 773 744

Other comprehensive income (loss) — — ( 14 13 ) ( 14 13 ) — ( 14 13 )

Balance at September 30, 2026 $ 1,635 $ 2,462 $ ( 13 ) $ 4,084 $ 1 $ 4,085

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These Condensed Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 12 13 for additional information on VIEs. These Condensed Consolidated Financial Statements also reflect the Duke Energy Registrants' proportionate share of certain jointly owned generation and transmission facilities.

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Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Notes 10 11 and 12 13 for additional information. Restricted cash amounts are included in Other within Current Assets and Other within Noncurrent Assets on the Condensed Consolidated Balance Sheets. The following table presents the components of cash, cash equivalents and restricted cash included on the Condensed Consolidated Balance Sheets.

June September 30, 2026 December 31, 2025

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Other 142 54 88 60 28 84 12 71 38 34

Cash and cash equivalents $ 673 451 $ 38 22 $ 288 80 $ 244 37 $ 22 21 $ 245 $ 3 $ 54 $ 16 $ 21

Other 81 29 51 37 14 84 12 71 38 34

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Other 35 26 7 13 14 7 6 7 34 7 14 7 7

Total cash, cash equivalents and restricted cash $ 850 558 $ 99 58 $ 389 145 $ 311 81 $ 56 42 $ 363 $ 22 $ 139 $ 61 $ 62

Provisions for inventory write-offs were not material at June September 30, 2026, and December 31, 2025. The components of inventory are presented in the tables below.

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Materials and supplies $ 3,604 $ 1,174 $ 1,822 $ 1,101 $ 721 $ 169 $ 393 $ 9

Coal 754 311 231 166 65 18 194 —

Natural gas, oil and other fuel 307 43 194 107 87 42 3 26

Total inventory $ 4,665 $ 1,528 $ 2,247 $ 1,374 $ 873 $ 229 $ 590 $ 35

Materials and supplies $ 3,700 $ 1,205 $ 1,898 $ 1,120 $ 778 $ 152 $ 402 $ 9

Coal 676 263 186 113 73 21 207 —

Natural gas, oil and other fuel 358 42 199 108 91 69 4 43

Total inventory $ 4,734 $ 1,510 $ 2,283 $ 1,341 $ 942 $ 242 $ 613 $ 52

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As of June 30, 2026, the conditions required to receive the settlement proceeds had not been satisfied. Accordingly, the offshore wind rights and related bid credits have not been derecognized and no receivable has been recognized. Management evaluated the carrying value of the offshore wind rights and concluded that no impairment charge was required as of June 30, 2026. In performing this assessment, management considered the expected settlement proceeds together with the anticipated extinguishment of the related obligations associated with the bid-credit commitments. Upon satisfaction of the conditions and receipt of the settlement proceeds, Duke Energy expects to derecognize the offshore wind rights and the related bid-credit obligations.

Duke Energy, through a nonregulated subsidiary, was the winning bidder in the Carolina Long Bay offshore wind auction in May 2022. The rights acquired through the auction are recorded had a carrying value of approximately $ 150 million and were reported in Other within Other noncurrent assets on Duke Energy's Condensed Consolidated Balance Sheets and had a carrying value of approximately $ 150 million as of June 30, 2026, and December 31, 2025. The auction consideration and corresponding carrying value consisted of approximately $ 129 million of cash payments as well as and $ 21 million of bid credits associated with commitments made by Duke Energy to support development of the U.S. offshore wind industry. The carrying value of the offshore wind rights includes A corresponding $ 21 million attributable obligation related to these bid credits, with corresponding obligations recorded the bid-credit commitments was reported in Other within Other noncurrent liabilities on Duke Energy's Condensed Consolidated Balance Sheets as of December 31, 2025.

In June 2026, Duke Energy entered into a settlement agreement with the United States Department of the Interior to accept cancellation of its rights to develop offshore wind projects in Carolina Long Bay and to be released from related commitments associated with those rights. Under the settlement agreement, Duke Energy will was entitled to receive $ 129 million upon satisfaction of specified conditions, including reinvestment in certain dispatchable generating resources and grid infrastructure projects that would enhance the reliability and resiliency of the electric grid, as well as completion of an independent third-party audit of related project costs. The investment in qualifying infrastructure projects is expected to be completed by the end of 2026.

During the third quarter of 2026, Duke Energy satisfied the specified conditions under the settlement agreement, and the offshore wind lease was canceled effective September 23, 2026. Accordingly, the offshore wind rights were derecognized and a receivable of approximately $ 129 million was recognized within Receivables on Duke Energy's Condensed Consolidated Balance Sheets as of September 30, 2026. In addition, approximately $ 21 million of bid-credit commitment obligations previously recorded within Other noncurrent liabilities were derecognized. In October 2026, Duke Energy received the $ 129 million settlement proceeds.

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(in millions) June September 30, 2026 December 31, 2025

Duke Energy Corporation 9 15 23

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The following new accounting standards have been issued but not yet adopted by the Duke Energy Registrants as of June September 30, 2026.

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On August 4, 2025, Duke Energy, Progress Energy and Florida Progress LLC (Florida Progress), the holding company of Duke Energy Florida, entered into an investment agreement with an affiliate of Brookfield Super-Core Infrastructure Partners (Investor), pursuant to which Florida Progress agreed to issue membership interests to Investor for up to a 19.7 % membership interest in Florida Progress following a series of closings, for an aggregate investment of $ 6 billion, subject to certain adjustments. Investor's ownership interest in Florida Progress will increase proportionally with each closing.

On March 3, 2026, Duke Energy, Progress Energy and Florida Progress consummated the first closing (First Closing) of a minority investment in Florida Progress by Investor. The First Closing resulted in Florida Progress issuing 9.19 % of its membership interests in exchange for approximately $ 2.8 billion in cash proceeds. Duke Energy and Progress Energy retained indirect control of these assets, Florida Progress, and, therefore, no gain or loss was recognized on their respective Condensed Consolidated Statements of Operations. The difference between the cash consideration received, net of transaction costs of approximately $ 30 million, and the carrying value of the noncontrolling interest was resulted in a $ 1,941 million and was recorded as an 1.9 billion increase to equity.

The First Closing will be followed by additional closings, with investments occurring pursuant to the investment agreement no later than on the following timeline: dates: (i) Investor will invest an additional $ 200 million in Florida Progress no later than December 31, 2026; (ii) Investor will invest an additional $ 500 million in Florida Progress no later than June 30, 2027; (iii) Investor will invest an additional $ 1.5 billion in Florida Progress no later than December 31, 2027; and (iv) Investor will invest an additional $ 1 billion in Florida Progress no later than June 30, 2028. The ownership interest of Florida Progress will transfer proportionally with each closing. The Investor has the option to fund its total $ 6 billion investment sooner.

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In connection with the First Closing, Investor, Florida Progress, and Progress Energy entered in to into an Amended and Restated Limited Liability Company Operating Agreement of Florida Progress (LLC Agreement). The LLC Agreement, among other things, establishes the general framework governing the relationship between Investor and Florida Progress and their respective successors and transferees, as members of Florida Progress. The LLC Agreement also provides Investor with limited governance rights commensurate with its ownership interest in Florida Progress. Under the LLC Agreement, following effective upon the First Closing, the board of managers of Florida Progress will consist consists of 11 managers, two nominated by Investor and nine nominated by Progress Energy. The LLC Agreement contains certain investor protections, including (1) requiring investor approval or the affirmative vote of a manager nominated by the Investor for Florida Progress to make certain major decisions, and (2) providing Investor with the rights right to require Progress Energy to acquire Investor's membership interest in Florida Progress under certain specified circumstances (in each case, subject to certain minimum ownership thresholds). Certain transfer restrictions and other transfer rights apply to Investor and Progress Energy under the LLC Agreement.

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On March 16, 2026, the TPUC approved the transaction and Piedmont closed on the sale on March 31, 2026. Piedmont received proceeds of approximately $ 2.5 billion from the sale, subject to post-closing adjustments, which were partially used for debt reduction at Piedmont, as well as to efficiently fund Duke Energy's capital plan, primarily by displacing the issuance of common equity in the near term. For the six nine months ended June September 30, 2026, Duke Energy and Piedmont recorded pretax gains on the sale of $ 368 million and $ 652 million, respectively, in Gains on Sales of Other Assets and Other, net, in the Condensed Consolidated Statements of Operations. See Note 6 for further information on the repayment of Piedmont's term loan facility in March 2026.

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During the six nine months ended June September 30, 2025, Income From Discontinued Operations, net of tax in Duke Energy's Condensed Consolidated Statements of Operations related to the Commercial Renewables Disposal Groups was not material.

During the three nine months ended March 31, September 30, 2026, Duke Energy resolved an outstanding liability related to the Commercial Renewables Disposal Groups. As a result of this resolution, Duke Energy recognized $ 18 million of pretax earnings included in Income From Discontinued Operations, net of tax on Duke Energy's Condensed Consolidated Statements of Operations.

Duke Energy has elected not to separately disclose discontinued operations on Duke Energy's Condensed Consolidated Statements of Cash Flows. The cash flows from discontinued operations related to the Commercial Renewables Disposal Groups were not material for the six nine months ended June September 30, 2026, and 2025.

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The remainder of Duke Energy's operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs, Duke Energy's wholly owned captive insurance company, Bison, and Duke Energy's ownership interest in NMC. National Methanol Company.

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Three Months Ended June September 30, 2026

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Unaffiliated revenues $ 7,159 $ 428 $ 7,587 $ 5 $ — $ 7,592

Intersegment revenues 16 21 37 35 ( 72 ) —

Unaffiliated revenues $ 8,733 $ 368 $ 9,101 $ 3 $ — $ 9,104

Intersegment revenues 14 22 36 38 ( 74 ) —

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Operation, maintenance and other 1,339 127 1,466 ( 29 ) ( 52 ) 1,385

Depreciation and amortization 1,514 110 1,624 83 ( 7 ) 1,700

Property and other taxes 343 28 371 3 — 374

Interest expense 602 61 663 313 ( 19 ) 957

Income tax expense (benefit) 229 3 232 ( 72 ) — 160

Preferred dividends — — — 15 — 15

Segment income (loss) (b)

Fuel used in electric generation and purchased power $ 1,933 2,756 $ — $ 1,933 2,756 $ — $ ( 18 ) $ 1,915 2,738

Cost of natural gas — 130 130 117 117 — — 130 117

Operation, maintenance and other 1,349 114 1,463 ( 35 ) ( 55 ) 1,373

Depreciation and amortization 1,520 107 1,627 88 ( 6 ) 1,709

Property and other taxes 396 35 431 2 — 433

Impairment of assets and other charges 49 ( 49 2 ) — 49 ( 2 ) — — ( 2 )

Interest expense 592 63 655 329 ( 17 ) 967

Income tax expense (benefit) 394 ( 8 ) 386 ( 87 ) — 299

Preferred dividends — — — 14 — 14

Add: Equity in earnings (losses) of unconsolidated affiliates — 4 4 6 7 7 15 — 10 22

Segment income (loss) $ 1,817 $ ( 19 ) $ 1,798 $ ( 247 ) $ — $ 1,551

Add back: Net income attributable to NCI 53 85

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(b) EU&I includes an after tax amount of $ 39 million, net of $ 12 million tax benefit, recorded at Duke Energy Carolinas and Duke Energy Progress within Impairment of assets and other charges on the Condensed Consolidated Statements of Operations as a result of Duke Energy Carolinas' North Carolina rate case settlements. Refer to Note 4 for further information.

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Three Months Ended June September 30, 2025

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Unaffiliated revenues $ 7,030 $ 471 $ 7,501 $ 7 $ — $ 7,508

Intersegment revenues 15 22 37 33 ( 70 ) —

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and 1120 more changes in the filing

MD&A 563 changes

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• We received CECPCN approval from the PSCSC for a new combined-cycle generating unit in Anderson County, South Carolina, as well as out-of-state certificates for new combustion turbine facilities at Marshall Steam Station and new combined-cycle units in Person County, North Carolina. These projects are expected to play an important role in supporting growing customer demand and maintaining system reliability as we modernize our generation fleet. In May 2026, the PSCSC also issued an order accepting our latest Carolinas systemwide resource plan.

Management's Discussion and Analysis should be read in conjunction with the Condensed Consolidated Financial Statements and Notes for the six nine months ended June September 30, 2026, and with Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2025.

During the six nine months ended June September 30, 2026, we continued to execute our strategy of investing in infrastructure necessary to support customer growth while maintaining reliability and financial discipline. We completed two strategic transactions that generated approximately $5.3 billion of proceeds to support future infrastructure investments, advanced key regulatory initiatives, including the planned combination of our Carolinas electric utilities, and maintained reliability as we met amid continued growth across our service territories. These developments support our long-term capital investment plan and position us to meet the increasing customer energy needs of our customers while creating long-term shareholder value. for shareholders.

Executing on Strategic Transactions. Our service territories continue to experience significant growth driven by economic development activity, population growth and increasing customer demand, which are expected to support substantial capital investment opportunities in the coming years. We completed two previously announced strategic transactions that enhance our financial flexibility and support the funding of our long-term capital plan.

On March 3, 2026, we completed the first closing of a minority investment in Florida Progress, the holding company of Duke Energy Florida, by an affiliate of Brookfield Super-Core Infrastructure Partners. The initial investment resulted in the transfer of a 9.19% ownership interest for approximately $2.8 billion in cash proceeds. with additional staged investments anticipated through 2028. On March 31, 2026, following approval by the TPUC, we closed on the sale of Piedmont's Tennessee business to Spire Inc. and received approximately $2.5 billion in cash proceeds.

The successful execution of these transactions supports enhances our ability to fund financial flexibility and supports funding the investments required necessary to meet anticipated customer growth while maintaining financial flexibility through disciplined capital allocation. See Note 2 to the Condensed Consolidated Financial Statements, "Dispositions," for further information.

Constructive Regulatory Outcomes. During the six nine months ended June September 30, 2026, we continued to advance advanced key regulatory initiatives and the investments necessary to support customer growth, maintain reliable service and position our business for long-term success. These efforts remain focused on delivering safe and reliable electric and natural gas service, supporting maintaining customer affordability and achieving timely recovery of prudent costs.

• Revised base rates became effective during the first quarter of 2026 for Duke Energy Carolinas' and Duke Energy Progress' South Carolina service territories, and as well as Duke Energy Kentucky's natural gas business. During 2026, Duke Energy Ohio's electric and natural gas businesses and Piedmont's South Carolina natural gas business filed new base rate applications. In July, the third quarter, we reached settlements in Duke Energy Carolinas' and Duke Energy Progress' 2025 North Carolina rate Case cases and in proceedings related to Winter Storm Fern. Our regulatory efforts remain focused on securing the recovery of investments necessary to maintain and strengthen our electric and natural gas systems while continuing to provide reliable service to customers. We also received an order in Piedmont's South Carolina rate case, with new rates effective in October.

• We continued to advance our generation modernization strategy through regulatory approvals for new generation projects in South Carolina and North Carolina, including the Anderson County, Marshall and Person County facilities. These projects are expected to support growing customer demand and maintain system reliability as we modernize our generation fleet. In May, the PSCSC issued an order accepting our 2025 Carolinas systemwide resource plan, and in August, we filed our latest systemwide plan with the PSCSC.

• Our nuclear fleet continues to provide a significant source of reliable, carbon-free and cost-competitive generation. In February 2026, we announced that our nuclear fleet achieved a record systemwide capacity factor in 2025. In April 2026, the NRC issued a subsequent license renewal for Robinson, extending operations through 2050. Also during April, we executed a multiyear agreement to sell up to $3.1 billion of net tax credits through 2029, including nuclear PTCs, in continued support of providing low-cost electricity to our customers. supporting customer affordability.

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These trends continue to support Duke Energy's long‑term regulated capital plan while supporting helping maintain reliable service and customer affordability.

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In late January 2026, Winter Storm Fern impacted all of our service territories. Sustained subfreezing temperatures drove customer energy usage to record winter peak demand levels across the Carolinas. We implemented storm preparation and response measures, including pre‑positioning crews and equipment, coordinating mutual‑assistance resources and leveraging established restoration processes. These efforts supported continued system reliability and timely restoration activities where of service interruptions occurred. to affected customers within 48 hours.

Additionally, a summer heat wave brought extreme temperatures in August 2026, resulting in a new summertime record for electricity demand in the Carolinas, surpassing the previous record set in June 2025. Effective planning and operational execution by our generation and transmission teams supported system reliability during periods of elevated demand.

Duke Energy Objectives and Beyond. For the remainder of 2026, we remain focused on executing our strategic priorities, including advancing key regulatory initiatives, preparing for the combination of our Carolinas' electric utilities, supporting customer growth and investing in the infrastructure necessary to maintain safe and reliable service. The combination of Constructive regulatory outcomes, continued economic development, growth, disciplined capital allocation and strong operational execution positions position us to support our customers and communities while creating long‑term shareholder value.

See Notes 4 and 16 17 to the Condensed Consolidated Financial Statements, "Regulatory Matters" and "Income Taxes," respectively, along with "Other Matters," for additional information.

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EPA Regulations of GHG Emissions

In April 2024, the EPA issued final rules under section 111 of the Clean Air Act (EPA Rule 111) regulating GHG emissions from existing coal-fired and new natural gas-fired power plants. Compliance with EPA Rule 111, if implemented as issued, would have a material impact on the timing, nature and magnitude of future generation investments in our service territories. Cost recovery for future expenditures will be pursued through the normal ratemaking process with federal and state utility commissions, which permit recovery of reasonable and prudently incurred costs associated with Duke Energy's regulated operations. Duke Energy is participating in legal challenges to the final rules. In June 2025, the EPA published a proposed rule to repeal EPA Rule 111 as well as an alternative proposal to repeal a narrower set of requirements. Duke Energy is evaluating these proposals and their potential impacts on the Company. For more information, see "Other Matters."

In April 2024, the EPA issued the 2024 CCR Rule, which significantly expands expanded the scope of the 2015 CCR Rule by establishing regulatory requirements for inactive surface impoundments at retired generating facilities and previously unregulated coal ash sources at regulated facilities. Duke Energy is participating in legal challenges to the 2024 CCR Rule. In April 2026, the EPA proposed to rescind or modify certain aspects of the 2015 CCR Rule, as amended by the 2024 CCR Rule. Duke Energy is evaluating the proposed rule and its potential impact on the Company, which could be material.

Cost recovery for future expenditures is anticipated and will be pursued through the normal ratemaking process with federal and state utility commissions and through wholesale contracts which permit recovery of reasonable and prudently incurred costs associated with Duke Energy's regulated operations. For more information, see "Other Matters" and Note 4 to the Condensed Consolidated Financial Statements, "Regulatory Matters."

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The Duke Energy Registrants performed their annual goodwill impairment tests as of August 31, 2025. As of that date, the estimated fair values of all reporting units materially exceeded the carrying values except for the GU&I reporting unit of Duke Energy Ohio. No goodwill impairment charges were recorded in the accompanying Condensed Consolidated Statements of Operations. However, adverse changes in economic conditions, projected future cash flows or peer company equity valuations could reduce the estimated fair value of the GU&I reporting unit below its carrying amount and result in goodwill impairment charges in future periods.

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• Legal and Regulatory Settlements represent the impact of charges related to legal settlements as well as regulatory settlements related to the Duke Energy Carolinas' and Duke Energy Progress' North Carolina rate case cases and establishment of a regulatory liability associated with an energy efficiency program at Duke Energy Carolinas and Duke Energy Progress.

• Asset Sales represent the impact of gains on sale sales of assets related to Piedmont's Tennessee business and certain renewable natural gas investments.

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GAAP reported EPS was $1.38 for the three months ended June 30, 2026, compared to $1.25 for the three months ended June 30, 2025. In addition to the drivers below, GAAP reported EPS includes the impact of charges related to North Carolina rate case settlements for the three months ended June 30, 2026.

The following table reconciles non-GAAP measures, including adjusted EPS, to their most directly comparable GAAP measures.

Three Months Ended June 30,

(in millions, except per share amounts) Earnings EPS Earnings EPS

GAAP Reported Earnings/GAAP Reported EPS

Regulatory Settlements (a)

Discontinued Operations (b)

Adjusted Earnings/Adjusted EPS $ 1,116 $ 1.43 $ 972 $ 1.25

Note: Total EPS may not foot due to rounding.

(a) Net of $12 million tax benefit. $51 million recorded within Impairments of assets and other charges.

(b) Recorded in Income (Loss) from Discontinued Operations, net of tax.

Three Months Ended June September 30, 2026, as compared to June September 30, 2025

As discussed above, management also evaluates financial performance based on adjusted EPS. Duke Energy's GAAP reported and adjusted EPS was $1.43 $1.99 for the three months ended June September 30, 2026, compared to $1.25 $1.81 for the three months ended June September 30, 2025. The increase in reported and adjusted EPS was primarily due to the recovery of infrastructure investments to reliably serve customers in our growing jurisdictions and improved weather, partially offset by higher depreciation on a growing asset base, and impacts from minority interest investments, higher interest expense and a higher effective tax rate.

Six Nine Months Ended June September 30, 2026, as compared to June September 30, 2025

GAAP reported EPS was $3.35 $5.34 for the six nine months ended June September 30, 2026, compared to $3.00 $4.81 for the six nine months ended June September 30, 2025. In addition to the drivers below, GAAP reported EPS increased primarily due to the gain on sale of Piedmont's Tennessee business, offset by charges related to legal and regulatory settlements.

As discussed above, management also evaluates financial performance based on adjusted EPS. Duke Energy's adjusted EPS was $3.36 $5.35 for the six nine months ended June September 30, 2026, compared to $3.00 $4.81 for the six nine months ended June September 30, 2025. The increase in adjusted EPS was primarily due to the recovery of infrastructure investments to reliably serve customers in our growing jurisdictions and improved weather, partially offset by higher depreciation on a growing asset base, higher interest expense, impacts from minority interest investments, and higher operation and maintenance expense, including storm costs.

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Six Months Ended June 30,

Nine Months Ended September 30,

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GAAP Reported Earnings/GAAP Reported EPS $ 2,613 $ 3.35 $ 2,336 $ 3.00

GAAP Reported Earnings/GAAP Reported EPS $ 4,164 $ 5.34 $ 3,743 $ 4.81

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Adjusted Earnings/Adjusted EPS $ 2,618 $ 3.36 $ 2,337 $ 3.00

Adjusted Earnings/Adjusted EPS $ 4,169 $ 5.35 $ 3,744 $ 4.81

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Three Months Ended June 30, Six Months Ended June 30,

Operating Revenues 7,175 7,045 $ 130 $ 15,053 $ 14,185 $ 868

Fuel used in electric generation and purchased power 1,933 1,898 35 4,373 4,017 356

Operation, maintenance and other 1,339 1,594 (255) 3,048 3,018 30

Depreciation and amortization 1,514 1,402 112 3,012 2,736 276

Property and other taxes 343 371 (28) 736 749 (13)

Total operating expenses 5,178 5,264 (86) 11,218 10,519 699

Operating Income 1,999 1,789 210 3,842 3,675 167

Other Income and Expenses, net 156 163 (7) 292 297 (5)

Interest Expense 602 535 67 1,173 1,065 108

Income Before Income Taxes 1,553 1,417 136 2,961 2,907 54

Income Tax Expense 229 200 29 356 389 (33)

Less: Net Income Attributable to NCI 53 23 30 80 48 32

Segment Income $ 1,271 $ 1,194 $ 77 $ 2,525 $ 2,470 $ 55

Duke Energy Carolinas GWh sales 22,408 22,168 240 45,988 45,726 262

Duke Energy Progress GWh sales 17,440 17,058 382 35,727 35,243 484

Duke Energy Florida GWh sales 11,742 11,726 16 21,058 20,794 264

Duke Energy Ohio GWh sales 5,830 5,671 159 12,141 11,778 363

Duke Energy Indiana GWh sales 7,022 7,538 (516) 14,982 15,862 (880)

Total Electric Utilities and Infrastructure GWh sales 64,442 64,161 281 129,896 129,403 493

Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2026 2025 Variance 2026 2025 Variance

Operating Revenues $ 8,747 $ 8,180 $ 567 $ 23,800 $ 22,365 $ 1,435

Fuel used in electric generation and purchased power 2,756 2,309 447 7,129 6,326 803

Operation, maintenance and other 1,349 1,728 (379) 4,397 4,746 (349)

Depreciation and amortization 1,520 1,448 72 4,532 4,184 348

Property and other taxes 396 394 2 1,132 1,143 (11)

Impairment of assets and other charges 49 (2) (1) 50 49 (1) 50 47 (2) 49

Total operating expenses 6,019 5,878 141 17,237 16,397 840

Gains (Losses) on Sales of Other Assets and Other, net 2 8 6 7 9 (2) 12 (6) 13 21 (8)

Operating Income 2,734 2,314 420 6,576 5,989 587

Other Income and Expenses, net 154 164 (10) 446 461 (15)

Interest Expense 592 522 70 1,765 1,587 178

Income Before Income Taxes 2,296 1,956 340 5,257 4,863 394

Income Tax Expense 394 264 130 750 653 97

Less: Net Income Attributable to NCI 85 34 51 165 82 83

Segment Income $ 1,817 $ 1,658 $ 159 $ 4,342 $ 4,128 $ 214

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and 483 more changes in the filing

Controls and procedures 3 changes

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Changes in Internal Control over Financial Reporting

Under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, the Duke Energy Registrants have evaluated changes in internal control over financial reporting (as such term is defined in Rules 13a-15 and 15d-15 under the Exchange Act) that occurred during the fiscal quarter ended June 30, 2026, and have concluded no change has materially affected, or is reasonably likely to materially affect, internal controls over financial reporting.

Under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, the Duke Energy Registrants have evaluated the effectiveness of their disclosure controls and procedures (as such term is defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) as of June September 30, 2026, and based on this evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that these controls and procedures are effective in providing reasonable assurance of compliance.

Legal proceedings 4 changes

Information regarding the litigation matter of NTE Carolinas II, LLC Litigation matter included in Part 1, I, Item 1, of this Quarterly Report on Form 10-Q, within Note 5, "Commitments and Contingencies," of the Condensed Consolidated Financial Statements is incorporated herein by reference.

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In December 2017, the State of Maryland (the State) filed suit in Baltimore City Circuit Court against Duke Energy Merchants and other defendants alleging contamination of state waters by MTBE leaking from gasoline storage tanks. The State seeks an unspecified amount of monetary damages. MTBE is a gasoline additive intended to increase the oxygen content in gasoline and promote cleaner combustion. The case was removed from Baltimore City Circuit Court to federal district court. In December 2020, the State and the defendants selected 50 focus sites, none of which have any ties to Duke Energy Merchants. In November 2025, Duke Energy Merchants entered into a settlement agreement with the State that provided for the payment of an immaterial amount to settle the claims against Duke Energy Merchants. Certain non-settling defendants opposed the settlement, and the court subsequently withdrew its prior dismissal orders. Following a hearing and competing proposed orders, the court referred the matter to a magistrate judge for mediation, which occurred on July 29, 2026. The parties continue to engage in discussions regarding potential resolution Mediation was not successful and the matter remains pending. language for the dismissal order is back before the federal district court for resolution.

Clermont County Litigation

On September 24, 2026, the Clermont County Board of Commissioners filed a lawsuit against Duke Energy Beckjord, LLC, Duke Energy Ohio, and several current and former owners of the former W.C. Beckjord Station property in the United States District Court for the Southern District of Ohio. The lawsuit asserts claims under the federal Resource Conservation and Recovery Act and the 2015 CCR Rule, as amended, alleging that historical coal combustion residual disposal units at the site contributed to groundwater contamination and present a risk to human health or the environment. The lawsuit seeks injunctive relief, civil penalties, corrective action and remediation-related relief, recovery of certain costs and other relief. The complaint does not specify the amount of monetary relief sought.

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Risk factors 1 change

In addition to the other information set forth in this report, careful consideration should be given to the factors discussed in Part I, "Item 1A. Risk Factors" in Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2025, and the supplemental risk factors included in Exhibit 99.4 to the Current Report on Form 8-K filed by Duke Energy Carolinas with the Securities Exchange Commission on May 29, 2026, and the supplemental risk factors included in Exhibit 99.4 to the Current Report on Form 8-K filed by Duke Energy Progress with the Securities Exchange Commission on August 27, 2026, which is herein incorporated by reference, and which could materially affect the Duke Energy Registrants' financial condition or future results.

Other information 2 changes

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On May 12, 2026 , Bonnie Titone , Executive Vice President and Chief Administrative Officer , adopted a 10b5-1 trading arrangement for the sale of up to 2,900 shares of the Company's common stock between August 12, 2026, and July 30, 2027 , or such earlier date such plan is terminated sooner pursuant to the terms specified therein, including but not limited to the execution of all trades specified therein.

Except as described below, During the three months ended June September 30, 2026, no director or officer of the Company adopted, terminated or modified a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as each term is defined in Item 408(a) of Regulation S-K.