# EDGAR Filing Document

**Accession Number:** 0000715957
**File Stem:** 0001193125-26-062432
**Filing Date:** 2026-2
**Character Count:** 37999
**Document Hash:** 025d182828d85a256980a25f5be85b60
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-062432.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0001193125-26-062432

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 11

**CONFORMED PERIOD OF REPORT**: 20260223

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DOMINION ENERGY, INC
- **CENTRAL INDEX KEY:** 0000715957
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 541229715
- **STATE OF INCORPORATION:** VA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08489
- **FILM NUMBER:** 26662081

**BUSINESS ADDRESS:**
- **STREET 1:** 600 EAST CANAL STREET
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23219
- **BUSINESS PHONE:** 8048192000

**MAIL ADDRESS:**
- **STREET 1:** P. O. BOX 26532
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23261

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DOMINION ENERGY INC /VA/
- **DATE OF NAME CHANGE:** 20170515

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DOMINION RESOURCES INC /VA/
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** February 23, 2026<br>

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DOMINION ENERGY, INC

**(Exact name of Registrant as Specified in Its Charter)**

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---

| | | |
|:---|:---|:---|
| Virginia | 001-08489 | 54-1229715 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 600 East Canal Street |  |  |
| Richmond**,** Virginia |  | 23219 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** (804) 819-2284<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common Stock, no par value | D | The New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
On February 23, 2026, Dominion Energy, Inc. issued a press release announcing preliminary unaudited earnings for the three and twelve months ended December 31, 2025. The press release and related preliminary earnings tables are furnished with this Form 8-K as Exhibit 99.

## Item 9.01 Financial Statements and Exhibits.

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| | |
|:---|:---|
| Exhibits |  |
| 99 | [<u>Dominion Energy, Inc. press release dated February 23, 2026</u>](d-ex99.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  |  | **DOMINION ENERGY, INC.<br>Registrant** |
| Date: | February 23, 2026 | By:  | /s/ Steven D. Ridge |
|  |  |  | Steven D. Ridge<br>Executive Vice President and<br>Chief Financial Officer |

---

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## Ex-99

**Exhibit 99**

**NEWS RELEASE**

February 23, 2026

**Dominion Energy announces 2025 financial results**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*Full year 2025 GAAP net income of $3.45 per share; operating earnings (non-GAAP) of $3.42 per share*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*Fourth-quarter 2025 GAAP net income of $0.65 per share; operating earnings (non-GAAP) of $0.68 per share*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*Company announces full-year 2026 operating earnings guidance range of $3.45 to $3.69 per share, midpoint of $3.57 per share*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*Company extends its existing guidance for long-term annual operating EPS growth rate of 5% to 7%, with a bias to the upper half for 2028 to 2030*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*Company also reaffirms existing credit & dividend guidance*

RICHMOND, Va. – Dominion Energy, Inc. (NYSE: D), today announced unaudited net income determined in accordance with Generally Accepted Accounting Principles (GAAP, or reported earnings) for the three months ended Dec. 31, 2025, of $567 million ($0.65 per share) compared with net income of $134 million ($0.14 per share) for the same period in 2024, with net income of $3.0 billion ($3.45 per share) for the 12 months ended Dec. 31, 2025, compared with net income of $2.0 billion ($2.33 per share) for the same period in 2024.

Operating earnings (non-GAAP) for the three months ended Dec. 31, 2025, were $593 million ($0.68 per share), compared to operating earnings of $504 million ($0.58 per share) for the same period in 2024. Operating earnings for the 12 months ended Dec. 31, 2025, were $3.0 billion ($3.42 per share) compared with operating earnings of $2.4 billion ($2.77 per share) for the same period in 2024.

Differences between GAAP and operating earnings for the period include gains and losses on nuclear decommissioning trust funds, mark-to-market impact of economic hedging activities and other adjustments. Details of operating earnings as compared to prior periods, business segment results and detailed descriptions of items included in reported earnings but excluded from operating earnings can be found on Schedules 1, 2, 3, and 4 of this release.

**Guidance**

The company announced its 2026 operating earnings guidance range of $3.45 to $3.69 per share with a midpoint of $3.57 per share which includes $0.07 per share of RNG 45Z income. The company extended through 2030 its long-term annual operating earnings-per-share-growth guidance of 5% to 7% off the original 2025 operating earnings per share guidance midpoint of $3.30 per share which excludes RNG 45Z, and indicated a bias to the upper half of the growth rate range in 2028 through 2030. The company also reaffirmed its existing credit and dividend guidance.

**Webcast today**

The company will host its fourth-quarter 2025 earnings call at 11 a.m. ET on Monday, Feb. 23, 2026. Management will discuss matters of interest to financial and other stakeholders including recent financial results.

A live webcast of the conference call, including accompanying slides and other financial information, will be available on the investor information pages at investors.dominionenergy.com.

For individuals who prefer to join via telephone, domestic callers should dial 1-800-445-7795 and international callers should dial 1-785-424-1699. The conference ID for the telephonic earnings call is DOMINION. Participants should dial in 10 to 15 minutes prior to the scheduled start time.

A replay of the webcast will be available on the investor information pages by the end of the day February 23. A telephonic replay of the earnings call will be available beginning at about 2 p.m. ET on February 23. Domestic callers may

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access the recording by dialing 1-800-753-9134. International callers should dial 1-402-220-2678. The passcode for the replay is 47058.

**Important note to investors regarding operating, reported earnings**

Dominion Energy uses operating earnings (non-GAAP) as the primary performance measurement of its results for public communications with analysts and investors. Operating earnings are defined as reported earnings adjusted for certain items. Dominion Energy also uses operating earnings internally for budgeting, for reporting to the Board of Directors, for the company's incentive compensation plans, and for its targeted dividend payouts and other purposes. Dominion Energy management believes operating earnings provide a more meaningful representation of the company's fundamental earnings power. In providing its operating earnings guidance, the company notes that there could be differences between expected reported earnings and estimated operating earnings for matters such as, but not limited to, the mark-to-market impact of economic hedging activities, gains and losses on nuclear decommissioning trust funds, market-related impacts on pension and other postretirement benefit plans, acquisitions, divestitures, or extreme weather events and other natural disasters. At this time, Dominion Energy management is not able to estimate the aggregate impact of these items on future period reported earnings. Accordingly, Dominion Energy is not able to provide a corresponding GAAP equivalent for its operating earnings guidance.

**About Dominion Energy**

Dominion Energy (NYSE: D), headquartered in Richmond, Va., provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina. The company is one of the nation's leading developers and operators of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England. The company's mission is to provide the reliable, affordable, and increasingly clean energy that powers its customers every day. Please visit DominionEnergy.com to learn more.

*This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to various risks and uncertainties. Factors that could cause actual results to differ include, but are not limited to: unusual weather conditions and their effect on energy sales to customers and energy commodity prices; extreme weather events and other natural disasters; extraordinary external events, such as the pandemic health event resulting from COVID-19; federal, state and local legislative and regulatory developments; changes in or interpretations of federal and state tax laws and regulations; changes to regulated rates collected by Dominion Energy; changes in rules for RTOs and ISOs in which the Companies join and/or participate; risks associated with entities in which Dominion Energy shares ownership with third parties, such as a 50% noncontrolling interest in the Coastal Virginia Offshore Wind (CVOW) commercial project, including risks that result from lack of sole decision making authority, disputes that may arise between Dominion Energy and third-party participants and difficulties in exiting these arrangements; timing and receipt of regulatory approvals necessary for planned construction or expansion projects and compliance with conditions associated with such regulatory approvals; the inability to complete planned construction projects within time frames initially anticipated; risks and uncertainties that may impact the ability to construct the CVOW commercial project within the currently proposed timeline, or at all, and consistent with current cost estimates along with the ability to recover such costs from customers; risks and uncertainties associated with the timely receipt of future capital contributions, including optional capital contributions, if any, from the noncontrolling financing partner associated with the construction of the CVOW commercial project; changes to federal, state, and local environmental laws and regulations, including those related to climate change; cost of environmental strategy and compliance, including cost related to climate change; changes in implementation and enforcement practices of regulators relating to environmental standards and litigation exposure for remedial activities; unplanned outages at facilities in which the Companies have an ownership interest; risks associated with the operation of nuclear facilities; changes in operating, maintenance and construction costs; the availability of nuclear fuel, natural gas, purchased power or other materials utilized by Dominion Energy to provide electric generation, transmission and distribution and/or gas distribution services; additional competition in Dominion Energy's industries; changes in technology; changes in demand for Dominion Energy's services; risks and uncertainties associated with increased energy demand or significant accelerated growth in demand due to new data centers, including the concentration of data centers primarily in Loudoun County, Va., and the ability to obtain regulatory approvals, environmental and other permits to construct new facilities in a timely manner;* 

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*the technological and economic feasibility of large-scale battery storage, carbon capture and storage, small modular reactors, hydrogen, and/or other clean energy technologies; receipt of approvals for, and timing of, closing dates for acquisitions and divestitures; impacts of acquisitions, divestitures, transfers of assets by Dominion Energy to joint ventures, and retirements of assets based on asset portfolio reviews; adverse outcomes in litigation matters or regulatory proceedings; counterparty credit and performance risk; fluctuations in energy-related commodity prices; fluctuations in interest rates; changes in rating agency requirements or credit ratings and their effect on availability and cost of capital; capital market conditions, including the availability of credit and the ability to obtain financing on reasonable terms; and political and economic conditions, including tariffs, inflation and deflation. Other risk factors are detailed from time to time in Dominion Energy's quarterly reports on Form 10-Q and most recent annual report on Form 10-K filed with the U.S. Securities and Exchange Commission.* 

**News Category:** Corporate & Financial

#####

For further information: Media: Ryan Frazier, (804) 836-2083 or C.Ryan.Frazier@dominionenergy.com;

Investor Relations: David McFarland, (804) 819-2438 or David.M.McFarland@dominionenergy.com

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**Consolidated Statements of Income (GAAP)**

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| | | | | |
|:---|:---|:---|:---|:---|
| **Dominion Energy, Inc.** | **Dominion Energy, Inc.** | **Dominion Energy, Inc.** | **Dominion Energy, Inc.** | **Dominion Energy, Inc.** |
| **Consolidated Statements of Income \*** | **Consolidated Statements of Income \*** | **Consolidated Statements of Income \*** | **Consolidated Statements of Income \*** | **Consolidated Statements of Income \*** |
| **Unaudited (GAAP Based)** | **Unaudited (GAAP Based)** | **Unaudited (GAAP Based)** | **Unaudited (GAAP Based)** | **Unaudited (GAAP Based)** |
|  | **Three Months Ended** | **Three Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| *(millions, except per share amounts)* | **2025** | **2024** | **2025** | **2024** |
| **Operating Revenue** | $**4093** | $3400 | $**16506** | $14459 |
| **Operating Expenses** |  |  |  |  |
| &nbsp;&nbsp;Electric fuel and other energy-related purchases | **1244** | 827 | **4489** | 3614 |
| &nbsp;&nbsp;Purchased electric capacity | **19** | 17 | **82** | 74 |
| &nbsp;&nbsp;Purchased gas | **76** | 62 | **297** | 260 |
| &nbsp;&nbsp;Other operations and maintenance<sup>(1)</sup> | **1207** | 1374 | **4064** | 4188 |
| &nbsp;&nbsp;Depreciation and amortization | **616** | 554 | **2387** | 2345 |
| &nbsp;&nbsp;Other taxes | **175** | 175 | **773** | 731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | **3337** | 3009 | **12092** | 11212 |
| Income (loss) from operations | **756** | 391 | **4414** | 3247 |
| Other income (expense) | **335** | 127 | **1219** | 841 |
| Interest and related charges | **509** | 444 | **2022** | 1893 |
| Income (loss) from continuing operations including <br>&nbsp;&nbsp;&nbsp;&nbsp; noncontrolling interests before income tax expense (benefit) | **582** | 74 | **3611** | 2195 |
| Income tax expense (benefit) | **56** | (10) | **532** | 411 |
| **Net Income (loss) from continuing operations** | **526** | 84 | **3079** | 1784 |
| Net Income (loss) from discontinued operations | **(14)** | (3) | **(14)** | 197 |
| Net Income (loss) including noncontrolling interests | **512** | 81 | **3065** | 1981 |
| Noncontrolling interests | **(55)** | (53) | **67** | (53) |
| **Net Income (loss) attributable to Dominion Energy** | $**567** | $134 | $**2998** | $2034 |
| **Amounts attributable to Dominion Energy** |  |  |  |  |
| &nbsp;&nbsp;Net Income (loss) from continuing operations | $**581** | $137 | $**3012** | $1837 |
| &nbsp;&nbsp;Net Income (loss) from discontinued operations | **(14)** | (3) | **(14)** | 197 |
| &nbsp;&nbsp;Net Income (loss) attributable to Dominion Energy | $**567** | $134 | $**2998** | $2034 |
| Reported Income (loss) per common share from continuing <br>&nbsp;&nbsp;&nbsp;&nbsp; operations - diluted | $**0.66** | $0.14 | $**3.47** | $2.09 |
| Reported Income (loss) per common share from discontinued <br>&nbsp;&nbsp;&nbsp;&nbsp; operations - diluted | **(0.01)** | - | **(0.02)** | 0.24 |
| **Reported Income (loss) per common share - diluted** | $**0.65** | $0.14 | $**3.45** | $2.33 |
| Average shares outstanding, diluted | **860.4** | 842.2 | **855.3** | 839.4 |

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(1)Includes impairment of assets and other charges (benefits).

\*The notes contained in Dominion Energy's most recent quarterly report on Form 10-Q or annual report on Form 10-K are an integral part of the Consolidated Financial Statements.

Amounts for 2024 through Q1 2025 reflect an immaterial revision related to income taxes on the Companies' nuclear decommissioning trusts. See Form 10-K for more information.

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**Schedule 1 - Segment Reported and Operating Earnings**

**Unaudited**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Twelve Months Ended December 31,** | **Twelve Months Ended December 31,** | **Twelve Months Ended December 31,** |
| (millions, except per share amounts) | **2025** | **2024** | **Change** | **2025** | **2024** | **Change** |
| **REPORTED EARNINGS**<sup>(1)</sup> | **$567** | **$134** | **$433** | **$2998** | **$2034** | **$964** |
| &nbsp;&nbsp;Pre-tax loss (income)<sup>(2)</sup> | 34 | 481 | (447) | (112) | 416 | (528) |
| &nbsp;&nbsp;Income tax<sup>(2)</sup> | (8) | (111) | 103 | 80 | (58) | 138 |
| Adjustments to reported earnings | 26 | 370 | (344) | (32) | 358 | (390) |
| **OPERATING EARNINGS (non-GAAP)** | **$593** | **$504** | **$89** | **$2966** | **$2392** | **$574** |
| &nbsp;&nbsp;*By segment:* |  |  |  |  |  |  |
| &nbsp;&nbsp;Dominion Energy Virginia | $536 | $440 | $96 | $2325 | $2011 | $314 |
| &nbsp;&nbsp;Dominion Energy South Carolina | 106 | 102 | 4 | 535 | 398 | 137 |
| &nbsp;&nbsp;Contracted Energy | 117 | 54 | 63 | 438 | 359 | 79 |
| &nbsp;&nbsp;Corporate and Other | (166) | (92) | (74) | (332) | (376) | 44 |
|  | $593 | $504 | $89 | $2966 | $2392 | $574 |
| **Earnings Per Share (EPS)**<sup>(3)</sup>**:** |  |  |  |  |  |  |
| **REPORTED EARNINGS**<sup>(1)</sup> | **$0.65** | **$0.14** | **$0.51** | **$3.45** | **$2.33** | **$1.12** |
| Adjustments to reported earnings (after-tax) | 0.03 | 0.44 | (0.41) | (0.03) | 0.44 | (0.47) |
| **OPERATING EARNINGS (non-GAAP)** | **$0.68** | **$0.58** | **$0.10** | **$3.42** | **$2.77** | **$0.65** |
| &nbsp;&nbsp;*By segment:* |  |  |  |  |  |  |
| &nbsp;&nbsp;Dominion Energy Virginia | $0.63 | $0.52 | $0.11 | $2.72 | $2.40 | $0.32 |
| &nbsp;&nbsp;Dominion Energy South Carolina | 0.12 | 0.12 | - | 0.63 | 0.47 | 0.16 |
| &nbsp;&nbsp;Contracted Energy | 0.14 | 0.07 | 0.07 | 0.51 | 0.43 | 0.08 |
| &nbsp;&nbsp;Corporate and Other | (0.21) | (0.13) | (0.08) | (0.44) | (0.53) | 0.09 |
|  | **$0.68** | **$0.58** | **$0.10** | **$3.42** | **$2.77** | **$0.65** |
| **Common Shares Outstanding (average, diluted)** | 860.4 | 842.2 |  | 855.3 | 839.4 |  |

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(1)Determined in accordance with Generally Accepted Accounting Principles (GAAP).

(2)Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. Refer to Schedules 2 and 3 for details or find "GAAP Reconciliation" in the Earnings Release Kit on Dominion Energy's website at investors.dominionenergy.com.

(3)The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. During each quarter of 2025 and 2024, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with Series C preferred stock of $11 million. The calculation of operating earnings per share for the three and twelve months ended December 31, 2024 excludes a deemed dividend of $1 million and $10 million, respectively, associated with the Company's repurchase of certain Series B preferred stock. Reported and operating earnings per share for the three and twelve months ended December 31, 2024 also includes the impact of preferred dividends associated with Series B preferred stock of $3 million and $24 million, respectively. See Forms 10-Q and 10-K for additional information.

Amounts for 2024 through Q1 2025 reflect an immaterial revision related to income taxes on the Companies' nuclear decommissioning trusts. See Form 10-K for more information.

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**Schedule 2 - Reconciliation of 2025 Reported Earnings to Operating Earnings**

**2025 Earnings (Twelve Months Ended December 31, 2025)**

The $112 million pre-tax net income of the adjustments included in 2025 reported earnings, but excluded from operating earnings, is primarily related to the following items:

• $485 million net market benefit primarily associated with $507 million from nuclear decommissioning trusts (NDT) and $131 million on pension and other postretirement benefit (OPEB) plans offset by $153 million in economic hedging activities.

• $258 million of regulated asset retirements and other charges primarily associated with Virginia Power's share of costs not expected to be recovered from customers on the Coastal Virginia Offshore Wind (CVOW) Commercial project.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(millions, except per share amounts)* | **1Q25** | **2Q25** | **3Q25** | **4Q25** | **YTD 2025**<sup>(4)</sup> |
| **Reported earnings** | $665 | $760 | $1006 | $567 | $2998 |
| Adjustments to reported earnings<sup>(1)</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;Pre-tax loss (income) | 217 | (217) | (146) | 34 | (112) |
| &nbsp;&nbsp;Income tax (benefit) | (79) | 106 | 61 | (8) | 80 |
|  | 138 | (111) | (85) | 26 | (32) |
| Operating earnings (non-GAAP) | $803 | $649 | $921 | $593 | $2966 |
| **Common shares outstanding (average, diluted)** | 852.2 | 853.2 | 855.4 | 860.4 | 855.3 |
| **Reported earnings per share**<sup>(2)</sup> | $0.77 | $0.88 | $1.16 | $0.65 | $3.45 |
| Adjustments to reported earnings per share<sup>(2)</sup> | 0.16 | (0.13) | (0.10) | 0.03 | (0.03) |
| Operating earnings (non-GAAP) per share<sup>(2)</sup> | $0.93 | $0.75 | $1.06 | $0.68 | $3.42 |
| **(1) Adjustments to reported earnings are reflected in the following table:** | **(1) Adjustments to reported earnings are reflected in the following table:** |  |  |  |  |
|  | **1Q25** | **2Q25** | **3Q25** | **4Q25** | **YTD 2025** |
| <u>Pre-tax loss (income):</u> |  |  |  |  |  |
| &nbsp;&nbsp;Net loss (gain) on NDT funds | $133 | $(289) | $(259) | $(92) | $(507) |
| &nbsp;&nbsp;Mark-to-market of pension and OPEB plans | - | - | - | (131) | (131) |
| &nbsp;&nbsp;Mark-to-market impact of economic hedging activities | (22) | 21 | 47 | 107 | 153 |
| &nbsp;&nbsp;Discontinued operations | 1 | 2 | 2 | 4 | 9 |
| &nbsp;&nbsp;DEV severe weather impacts | 82 | 24 | - | - | 106 |
| &nbsp;&nbsp;Regulated asset retirements and other charges | 23 | 25 | 64 | 146 | 258 |
|  | $217 | $(217) | $(146) | $34 | $(112) |
| <u>Income tax expense (benefit):</u> |  |  |  |  |  |
| &nbsp;&nbsp;Tax effect of above adjustments to reported earnings<sup>(3)</sup> | (79) | 106 | 61 | (8) | 80 |
|  | $(79) | $106 | $61 | $(8) | $80 |

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(2)The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. During each quarter of 2025, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with Series C preferred stock of $11 million. See Forms 10-Q and 10-K for additional information.

(3)Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting purposes, calculation of such amounts may be adjusted in connection with the calculation of the Company's year-to-date income tax provision based on its estimated annual effective tax rate.

(4)YTD EPS may not equal sum of quarters due to share count differences.

Amounts for 2024 through Q1 2025 reflect an immaterial revision related to income taxes on the Companies' nuclear decommissioning trusts. See Form 10-K for more information.

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**Schedule 3 - Reconciliation of 2024 Reported Earnings to Operating Earnings**

**2024 Earnings (Twelve Months Ended December 31, 2024)**

The $416 million pre-tax net loss of the adjustments included in 2024 reported earnings, but excluded from operating earnings, is primarily related to the following items:

• $11 million net market loss primarily associated with $372 million on pension and other postretirement benefit (OPEB) plans and $198 million in economic hedging activities offset by $559 million from nuclear decommissioning trusts (NDT).

• $228 million of net benefit from discontinued operations primarily related to a $247 million benefit associated with gas distribution operations (inclusive of a $130 million net loss on sales related to the East Ohio, Questar Gas and PSNC Transactions).

• $276 million of regulated asset retirements and other charges primarily associated with a $103 million charge for Virginia Power's share of costs not expected to be recovered from customers on the Coastal Virginia Offshore Wind (CVOW) Commercial project, a $58 million charge from the South Carolina electric rate case, $40 million in demolition and decommissioning costs at Virginia Power and a $30 million write off of certain early stage development costs for potential electric generation projects in Virginia no longer under consideration.

• $229 million of nonregulated asset impairments and other charges related to a $122 million ARO revision at Millstone nuclear power station, $60 million of impairment charges associated with certain nonregulated renewable natural gas facilities and a $47 million charge in connection with the settlement of an agreement.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(millions, except per share amounts)* | **1Q24** | **2Q24** | **3Q24** | **4Q24** | **YTD 2024**<sup>(5)</sup> |
| **Reported earnings** | $403 | $563 | $934 | $134 | $2034 |
| Adjustments to reported earnings<sup>(1)</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;Pre-tax loss (income) | 50 | 35 | (150) | 481 | 416 |
| &nbsp;&nbsp;Income tax (benefit) | 32 | (31) | 52 | (111) | (58) |
|  | 82 | 4 | (98) | 370 | 358 |
| Operating earnings (non-GAAP) | $485 | $567 | $836 | $504 | $2392 |
| **Common shares outstanding (average, diluted)** | 837.6 | 838.3 | 839.3 | 842.2 | 839.4 |
| **Reported earnings per share**<sup>(2)</sup> | $0.46 | $0.64 | $1.09 | $0.14 | $2.33 |
| Adjustments to reported earnings per share<sup>(2)</sup> | 0.09 | 0.01 | (0.11) | 0.44 | 0.44 |
| Operating earnings (non-GAAP) per share<sup>(2)</sup> | $0.55 | $0.65 | $0.98 | $0.58 | $2.77 |
| **(1) Adjustments to reported earnings are reflected in the following table:** | **(1) Adjustments to reported earnings are reflected in the following table:** |  |  |  |  |
|  | **1Q24** | **2Q24** | **3Q24** | **4Q24** | **YTD 2024** |
| <u>Pre-tax loss (income):</u> |  |  |  |  |  |
| &nbsp;&nbsp;Net loss (gain) on NDT funds | $(265) | $(83) | $(167) | $(44) | $(559) |
| &nbsp;&nbsp;Mark-to-market impact of economic hedging activities | 108 | 104 | (137) | 123 | 198 |
| &nbsp;&nbsp;Mark-to-market of pension and OPEB plans | 320 | 16 | (6) | 42 | 372 |
| &nbsp;&nbsp;Discontinued operations | (172) | (83) | 24 | 3 | (228) |
| &nbsp;&nbsp;Business review costs | 29 | 15 | 7 | 54 | 105 |
| &nbsp;&nbsp;Net loss (gain) on real estate dispositions | - | 17 | 1 | 5 | 23 |
| &nbsp;&nbsp;Regulated asset retirements and other charges | (17) | 16 | 101 | 176 | 276 |
| &nbsp;&nbsp;Nonregulated asset impairments and other charges | 47 | 33 | 27 | 122 | 229 |
|  | $50 | $35 | $(150) | $481 | $416 |
| <u>Income tax expense (benefit):</u> |  |  |  |  |  |
| &nbsp;&nbsp;Tax effect of above adjustments to reported earnings<sup>(3)</sup> | 541 | (55) | 402 | (111) | 777 |
| &nbsp;&nbsp;Deferred taxes associated with sale of gas distribution <br>&nbsp;&nbsp;&nbsp;&nbsp; operations<sup>(4)</sup> | (509) | 24 | (350) | - | (835) |
|  | $32 | $(31) | $52 | $(111) | $(58) |

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(2)The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. The calculation of operating earnings per share for the three months ended June 30, 2024 and for the three and twelve months ended December 31, 2024 excludes a deemed dividend of $9 million, $1 million and $10 million, respectively, associated with the Company's repurchase of certain Series B preferred stock. During each quarter of 2024, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with Series B preferred stock of $9 million, $8 million, $4 million and $3 million, respectively. During each quarter of 2024, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with Series C preferred stock of $11 million. See Forms 10-Q and 10-K for additional information.

(3)Excludes a $578 million tax benefit on non-deductible goodwill associated with the sale of gas distribution operations. Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting purposes, calculation of such amounts may be adjusted in connection with the calculation of the Company's year-to-date income tax provision based on its estimated annual effective tax rate.

(4)Represents the reversal of previously established deferred taxes related to the basis in the stock of the gas distribution operations.

(5)YTD EPS may not equal sum of quarters due to share count differences.

Amounts for 2024 through Q1 2025 reflect an immaterial revision related to income taxes on the Companies' nuclear decommissioning trusts. See Form 10-K for more information.

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**Schedule 4 - Reconciliation of 4Q25 Earnings to 4Q24** 

**Preliminary, Unaudited**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2025 vs. 2024** | **2025 vs. 2024** | **2025 vs. 2024** | **2025 vs. 2024** |
| *(millions, except per share amounts)* | **Increase / (Decrease)** | **Increase / (Decrease)** | **Increase / (Decrease)** | **Increase / (Decrease)** |
| **<u>Reconciling Items</u>** | **Amount** | **EPS** | **Amount** | **EPS** |
| **Change in reported earnings (GAAP)** | $**433** | $**0.51** | $**964** | $**1.12** |
| &nbsp;&nbsp;Change in Pre-tax loss (income)<sup>(1)</sup> | (447) | (0.53) | (528) | (0.63) |
| &nbsp;&nbsp;Change in Income tax<sup>(1)</sup> | 103 | 0.12 | 138 | 0.16 |
| **Adjustments to reported earnings** | $**(344)** | $**(0.41)** | $**(390)** | $**(0.47)** |
| **Change in consolidated operating earnings (non-GAAP)** | $**89** | $**0.10** | $**574** | $**0.65** |
| ***Dominion Energy Virginia*** |  |  |  |  |
| &nbsp;&nbsp;Weather | $16 | $0.02 | $18 | $0.02 |
| &nbsp;&nbsp;Customer usage and other factors | 42 | 0.05 | 173 | 0.21 |
| &nbsp;&nbsp;Customer-elected rate impacts | - | - | (7) | (0.01) |
| &nbsp;&nbsp;Rider equity return | 96 | 0.11 | 507 | 0.60 |
| &nbsp;&nbsp;Storm damage and service restoration | (1) | - | 10 | 0.01 |
| &nbsp;&nbsp;Planned outage costs | 6 | 0.01 | 14 | 0.02 |
| &nbsp;&nbsp;Nuclear production tax credits | (6) | (0.01) | - | - |
| &nbsp;&nbsp;Depreciation and amortization | (10) | (0.01) | (32) | (0.04) |
| &nbsp;&nbsp;Salaries, wages, and benefits & administrative costs | (20) | (0.02) | (84) | (0.10) |
| &nbsp;&nbsp;Interest expense, net | (3) | - | (47) | (0.06) |
| &nbsp;&nbsp;Sale of noncontrolling interest | (40) | (0.05) | (275) | (0.33) |
| &nbsp;&nbsp;Other | 16 | 0.02 | 37 | 0.05 |
| &nbsp;&nbsp;Share dilution | - | (0.01) | - | (0.05) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Change in contribution to operating earnings** | $**96** | $**0.11** | $**314** | $**0.32** |
| ***Dominion Energy South Carolina*** |  |  |  |  |
| &nbsp;&nbsp;Weather | $(5) | $(0.01) | $2 | $- |
| &nbsp;&nbsp;Customer usage and other factors | 1 | - | 32 | 0.04 |
| &nbsp;&nbsp;Customer-elected rate impacts | 2 | - | 11 | 0.01 |
| &nbsp;&nbsp;Base & RSA rate case impacts | 3 | - | 127 | 0.15 |
| &nbsp;&nbsp;Depreciation and amortization | (5) | (0.01) | (17) | (0.02) |
| &nbsp;&nbsp;Salaries, wages, and benefits & administrative costs | (9) | (0.01) | (29) | (0.03) |
| &nbsp;&nbsp;Interest expense, net | 8 | 0.01 | 4 | - |
| &nbsp;&nbsp;Other | 9 | 0.02 | 7 | 0.02 |
| &nbsp;&nbsp;Share dilution | - | - | - | (0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Change in contribution to operating earnings** | $**4** | $**-** | $**137** | $**0.16** |
| ***Contracted Energy*** |  |  |  |  |
| &nbsp;&nbsp;Margin | $27 | $0.03 | $34 | $0.04 |
| &nbsp;&nbsp;Planned Millstone outages<sup>(2)</sup> | 53 | 0.06 | (4) | - |
| &nbsp;&nbsp;Unplanned Millstone outages<sup>(2)</sup> | (10) | (0.01) | 8 | 0.01 |
| &nbsp;&nbsp;Depreciation and amortization | (18) | (0.02) | (31) | (0.04) |
| &nbsp;&nbsp;Salaries, wages, and benefits & administrative costs | (6) | (0.01) | (27) | (0.03) |
| &nbsp;&nbsp;Interest expense, net | (12) | (0.01) | (14) | (0.02) |
| &nbsp;&nbsp;Renewable energy investment tax credits | 21 | 0.03 | 63 | 0.08 |
| &nbsp;&nbsp;Renewable energy production tax credits<sup>(3)</sup> | 44 | 0.05 | 91 | 0.11 |
| &nbsp;&nbsp;Other | (36) | (0.05) | (41) | (0.06) |
| &nbsp;&nbsp;Share dilution | - | - | - | (0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Change in contribution to operating earnings** | $**63** | $**0.07** | $**79** | $**0.08** |
| ***Corporate and Other*** |  |  |  |  |
| &nbsp;&nbsp;Interest expense, net | $(47) | $(0.06) | $18 | $0.02 |
| &nbsp;&nbsp;Equity method investments | 3 | - | - | - |
| &nbsp;&nbsp;Pension and other postretirement benefit plans | (10) | (0.01) | (45) | (0.05) |
| &nbsp;&nbsp;Corporate service company costs | (2) | - | 27 | 0.03 |
| &nbsp;&nbsp;Other | (18) | (0.02) | 44 | 0.06 |
| &nbsp;&nbsp;Share dilution | - | 0.01 | - | 0.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Change in contribution to operating earnings** | $**(74)** | $**(0.08)** | $**44** | $**0.09** |
| ***Change in consolidated operating earnings (non-GAAP)*** | $**89** | $**0.10** | $**574** | $**0.65** |
| *Change in adjustments included in reported earnings*<sup>(1)</sup> | $344 | $0.41 | $390 | $0.47 |
| ***Change in consolidated reported earnings*** | $**433** | $**0.51** | $**964** | $**1.12** |

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(1)Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. Refer to Schedules 2 and 3 for details, or find "GAAP Reconciliation" in the Earnings Release Kit on Dominion Energy's website at investors.dominionenergy.com.

(2)Includes earnings impact from outage costs and lower energy margins.

(3)Includes an increase from renewable natural gas facilities of $43M and $79M for the quarter and year-to-date periods, respectively.

NOTE: Figures may not sum due to rounding.

Amounts for 2024 through Q1 2025 reflect an immaterial revision related to income taxes on the Companies' nuclear decommissioning trusts. See Form 10-K for more information.

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