Company: SOJE
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000092122-25-000036
Chunk: 46

Company: SOUTHERN CO
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 46
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 results for customers, stockholders and employees. The Committee evaluates the PPP goals compared to internal and external expectations, industry benchmarks, as well as relative and absolute performance. The Committee also considers potential challenges and opportunities that occur each year.

4 The Committee established the financial goals for EPS and business unit net income based on the Company’s financial plan and investor growth expectations, focusing on providing regular, predictable and sustainable EPS and dividend growth

4 The Committee established the operational goals to focus on delivering clean, safe, reliable and affordable energy to our customers.

4 PPP Funding Threshold : no payout under the PPP can be made if events occur that impact the Company’s financial ability to fund the common stock dividends

#### 48Southern Company2025 Proxy Statement

### Compensation Discussion and Analysis

### Financial Goal Setting Process
| Belief:The Committee believes that paying on adjusted EPS and business unit net income in conjunction with active Committee engagement aligns pay outcomes with stockholder interests                                                                                                                                                                                                                                                                                                                                                                                       |     |                    |     |                                 |     |                                    |
| In setting the financial goals, the Committee reviews the financial plan approved by the Finance Committee to reflect the current economic and regulatory environment and expectations for investment opportunities with the aim to deliver regular, predictable and sustainable EPS and dividend growth to stockholders over the long term.                                                                                                                                                                                                                                
 The Committee believes that setting goals in support of the achievement of our long-term EPS growth objectives is in the best interest of stockholders, rather than absolute comparisons of year-over-year GAAP results. This approach focuses on the long-term EPS growth trajectory and, when setting the EPS goal, considers unique factors that may have impacted the prior year’s results, such as weather-related revenue and expenses; regulatory, legislative or policy changes from federal or state authorities; and the impact of acquisitions and dispositions. 
 The Committee calibrates the EPS goal to align with our publicly announced guidance range and considers industry comparisons and growth expectations to establish the threshold, target and maximum performance levels. This process resulted in the Committee setting the following EPS goal for 2024.                                                                                                                                                                                                                                                                     |     |                    |     |                                 |     |                                    |
| Year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |     | EPS Guidance Range |     | EPS Target (Middle of Guidance) |     | Year over Year EPS Target Increase |
| 2024                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |     | $3.95 - $4.05      |     |                           $4.00 |     | $0.40 (11%)                        |
| For 2025, the Committee