Company: SOJE
Filing Date: 2025-04-21
Form Type: PX14A6G
Source: 0001214659-25-006174
Chunk: 5

Company: SOUTHERN CO
Filing Date: 2025-04-21
Form: PX14A6G
Chunk 5
---
;https://downloads.rivian.com/2md5qhoeajym/3CR7C1icQE7AFqByg853rg/bf92b6dc374cdd4ec1eb55183d94e06e/2022_Rivian_Impact_Report.pdf p.37;https://aws.amazon.com/energy/transition1/;https://sustainability.atmeta.com/energy/;https://datacenters.microsoft.com/globe/powering-sustainable-transformation/;https://sustainability.google/operating-sustainably/net-zero-carbon/;

11 https://psc.ga.gov/search/facts-document/?documentId=218199, p.7

12 https://rmi.org/how-power-couples-can-help-the-united-states-win-the-global-ai-race/

13 https://www.njleg.gov/bill-search/2024/S4143/bill-text?f=S4500&n=4143_I1

14 https://thecurrentga.org/2025/02/25/georgia-senate-committee-passes-bill-to-protect-residents-from-data-center-costs/

| 2025                                                    
 Proxy Memo                                              
 Southern Co | Disclosing Assumptions Behind High Carbon 
 Investments                                             |

At the federal level, Southern must take a longer-term approach
to regulatory risk and prepare for an administration or congress that prioritizes climate action. While the current administration is
repealing climate and environment-related policies, it is unproductive for the Company to invest in long term, high carbon assets such
as methane gas plants with multi-year planning processes and multi-decade asset lives only to be caught on its back foot as the inexorable
need to address climate change comes to the fore or the next climate-minded administration or congress is in power. Additional investments
in high carbon methane plants and delaying the retirement of coal plants will only increase the Company’s exposure to climate-related
risks such as future regulations, carbon pricing, and/or corporate sustainability mandates intended to accelerate the shift away from
fossil fuels. These risks may force Southern to retire fossil assets early, leaving ratepayers to absorb the financial losses.

According to the U.S. Energy Information Administration,
if Southern delays the retirement of its last two coal plants, which rank 12th and 28th out of all U.S. power plants for carbon emissions,
the Company will emit an additional 100 million tons of carbon. The fact that Southern does not disclose this consequence
in