Company: SOJE
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000092122-25-000036
Chunk: 102

Company: SOUTHERN CO
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 102
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 several assertions made by the proponent do not properly characterize the current market and policy landscapes.

In addition to requesting trade secret information that could hinder our ability to provide affordable energy to our customers, the proposal’s supporting statement makes several assertions regarding Southern’s decarbonization pathways, customer demand and peer disclosures that we believe fail to appreciate the dynamic nature of the current market and policy landscapes. For example, we believe the third-party modeling of our GHG emissions trajectory that is cited by the proponent fails to reflect our pending state regulatory proceedings, an evolving policy landscape and outstanding requests for proposal for incremental generating resources to meet increased projected load growth. We see no evidence of customer demand waning in our electric service territories. As noted in Southern’s earnings call on February 20, 2025, the Company has an economic development pipeline from large electric load customers, including data centers and large manufactures, of over 50 gigawatts of potential incremental load by the mid-2030s with 10 gigawatts already committed. Finally, the supporting statement mentions peer companies with varying levels of disclosure for system planning and GHG emissions reductions. Utilities operating in other jurisdictions, including the ones mentioned by the proponent, are subject to different regulatory aims, standards and disclosure requirements than those applicable to our operating subsidiaries.

Accordingly, the additional disclosures sought by this proposal are unnecessary, inadvisable and not in the best interests of the Company or its stockholders.

| The Board recommends a voteAGAINSTthe proposal. |

#### Item 7: Conduct a Net Zero Audit
Steven Milloy, 12309 Briarbush Lane, Potomac, Maryland, 20854, as authorized agent of New Breeze, 12309 Briarbrush Lane, Potomac, Maryland, 20854, holder of 747 shares of Southern Company common stock, submitted the following proposal.

#### Net Zero Audit
Resolved :

Shareholders request that, beginning in 2026, Southern Company report annually to shareholders on its net zero activities, including: memberships in organizations advocating net zero goals and policies, activities and transactions involving net zero goals and policies, and corporate commitments or agreements involving net zero goals and policies. The report should omit proprietary and/or confidential business information.

Supporting Statement :

Southern Company has committed to achieving net zero emissions by 2050. https://www.southerncompany.com/newsroom/clean-energy/plan-on-net-zero-carbon-emissions-goal.html

But there are significant problems associated with “net zero” goals and policies: