Company: SOJE
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000092122-25-000036
Chunk: 68

Company: SOUTHERN CO
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 68
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 and supplemental pension plans (collectively, Pension Benefits) as of December 31 of the applicable year.

The Pension Benefits as of each measurement date are based on the NEO’s age, pay and service accruals and the plan provisions applicable as of the measurement date. The actuarial present values as of each measurement date reflect the assumptions the Company selected for cost purposes as of that measurement date; however, the NEOs were assumed to remain employed at any Company subsidiary until their benefits commence at the pension plans’ stated normal retirement date, generally age 65. For each of Mr. Tucker and Mr. Womack, the accumulated benefit includes a portion of his Pension Plan benefits which are the subject of a qualified domestic relations order.

Mr. Womack’s higher aggregate change in Pension Benefit for 2024 as compared to the amounts reflected for other NEOs is due, in part, to how the mechanics of the pension calculation as described in Appendix B reflect his promotion to CEO and related changes to his compensation. Pension Benefits for all participants are calculated based on final average earnings which is defined as the highest three years of pay out of the last 10 calendar years of service. According to the existing plan provisions, his higher base pay and annual performance-based compensation as CEO is reflected in his Pension Benefits calculations and resulted in an increase of the actuarial present value of his Pension Benefits. No additional Pension Benefits were granted to Mr. Womack during 2023 or 2024.

Pension values may fluctuate significantly from year to year depending on a number of factors as described below, including age, years of service, annual earnings and the assumptions used to determine the present value, such as the discount rate.

#### Understanding the Annual Change in Pension Value
| High prevalence of traditional pension plans in utility industry                    |     | 4Traditional pension plans remain highly prevalent in the utility industry                                                                                                                                                                               
 4Most economically efficient way to provide financial well-being at retirement to our employees                                                                                                                                                          
 4Help us retain and protect the significant investment we make in our highly skilled workforce and attract the right talent for the future                                                                                                               
 4Align with our business model                                                                                                                                                                                                                           |
| No additional pension benefits were provided                                        |     | 42024 annual change in pension value is not due to any modifications to the existing pension program or formulas                                                                                                                                         
 4Pension formula considers years of service, which has an impact on the year over year change in pension value                                                                                                                                           |
| Annual changes primarily driven by macroeconomic and non