# EDGAR Filing Document

**Accession Number:** 0001160661
**File Stem:** 0000092122-25-000086
**Filing Date:** 2025-10
**Character Count:** 54949
**Document Hash:** 8e3088f0f8fcf9ae1b44867252ba4475
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000092122-25-000086.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0000092122-25-000086

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251030

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

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SOUTHERN CO
- **CENTRAL INDEX KEY:** 0000092122
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 580690070
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-03526
- **FILM NUMBER:** 251432334

**BUSINESS ADDRESS:**
- **STREET 1:** 30 IVAN ALLEN JR. BLVD., N.W.
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30308
- **BUSINESS PHONE:** 4045065000

**MAIL ADDRESS:**
- **STREET 1:** 30 IVAN ALLEN JR. BLVD., N.W.
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30308
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GEORGIA POWER CO
- **CENTRAL INDEX KEY:** 0000041091
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 580257110
- **STATE OF INCORPORATION:** GA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-06468
- **FILM NUMBER:** 251432337

**BUSINESS ADDRESS:**
- **STREET 1:** 241 RALPH MCGILL BOULEVARD
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30308
- **BUSINESS PHONE:** 4045066526

**MAIL ADDRESS:**
- **STREET 1:** 241 RALPH MCGILL BOULEVARD
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30308
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SOUTHERN POWER CO
- **CENTRAL INDEX KEY:** 0001160661
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 582598670

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37803
- **FILM NUMBER:** 251432335

**BUSINESS ADDRESS:**
- **STREET 1:** 30 IVAN ALLEN JR. BLVD
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30308
- **BUSINESS PHONE:** 4045065000

**MAIL ADDRESS:**
- **STREET 1:** 30 IVAN ALLEN JR. BLVD
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30308
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SOUTHERN CO GAS
- **CENTRAL INDEX KEY:** 0001004155
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATURAL GAS DISTRIBUTION [4924]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 582210952
- **STATE OF INCORPORATION:** GA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14174
- **FILM NUMBER:** 251432338

**BUSINESS ADDRESS:**
- **STREET 1:** 30 IVAN ALLEN JR. BLVD
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30308
- **BUSINESS PHONE:** 4045065000

**MAIL ADDRESS:**
- **STREET 1:** 30 IVAN ALLEN JR. BLVD
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30308

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOUTHERN Co GAS
- **DATE OF NAME CHANGE:** 20160711

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGL RESOURCES INC
- **DATE OF NAME CHANGE:** 19951129
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALABAMA POWER CO
- **CENTRAL INDEX KEY:** 0000003153
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 630004250
- **STATE OF INCORPORATION:** AL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-03164
- **FILM NUMBER:** 251432339

**BUSINESS ADDRESS:**
- **STREET 1:** 600 N 18TH ST
- **STREET 2:** P O BOX 2641
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35291
- **BUSINESS PHONE:** 2052571000

**MAIL ADDRESS:**
- **STREET 1:** 600 N 18TH ST
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35291
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MISSISSIPPI POWER CO
- **CENTRAL INDEX KEY:** 0000066904
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 640205820
- **STATE OF INCORPORATION:** MS
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-11229
- **FILM NUMBER:** 251432336

**BUSINESS ADDRESS:**
- **STREET 1:** 2992 WEST BEACH
- **CITY:** GULFPORT
- **STATE:** MS
- **ZIP:** 39501
- **BUSINESS PHONE:** 2288641211

**MAIL ADDRESS:**
- **STREET 1:** 2992 WEST BEACH
- **CITY:** GULFPORT
- **STATE:** MS
- **ZIP:** 39501

?xml version='1.0' encoding='ASCII'? so-20251030

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

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

 Date of Report (Date of earliest event reported) <u>October 30, 2025</u>

---

| | | |
|:---|:---|:---|
| **Commission<br>File Number** | **Registrant,<br>State of Incorporation,<br>Address and Telephone Number** | **I.R.S. Employer<br>Identification No.** |

---

---

| | | |
|:---|:---|:---|
| 1-3526 | **The Southern Company** | 58-0690070 |

---

(A Delaware Corporation)

30 Ivan Allen Jr. Boulevard, N.W.

Atlanta, Georgia 30308

(404) 506-5000

---

| | | |
|:---|:---|:---|
| 1-3164 | **Alabama Power Company** | 63-0004250 |

---

(An Alabama Corporation)

600 North 18th Street

Birmingham, Alabama 35203

(205) 257-1000

---

| | | |
|:---|:---|:---|
| 1-6468 | **Georgia Power Company** | 58-0257110 |

---

(A Georgia Corporation)

241 Ralph McGill Boulevard, N.E.

Atlanta, Georgia 30308

(404) 506-6526

---

| | | |
|:---|:---|:---|
| 001-11229 | **Mississippi Power Company** | 64-0205820 |

---

(A Mississippi Corporation)

2992 West Beach Boulevard

Gulfport, Mississippi 39501

(228) 864-1211

---

| | | |
|:---|:---|:---|
| 001-37803 | **Southern Power Company** | 58-2598670 |

---

(A Delaware Corporation)

30 Ivan Allen Jr. Boulevard, N.W.

Atlanta, Georgia 30308

(404) 506-5000

---

| | | |
|:---|:---|:---|
| 1-14174 | **Southern Company Gas** | 58-2210952 |

---

(A Georgia Corporation)

Ten Peachtree Place, N.E.

Atlanta, Georgia 30309

(404) 584-4000

The names and addresses of the registrants have not changed since the last report.

------

This combined Form 8-K is furnished separately by six registrants: The Southern Company, Alabama Power Company, Georgia Power Company, Mississippi Power Company, Southern Power Company and Southern Company Gas. Information contained herein relating to each registrant is furnished by each registrant solely on its own behalf. Each registrant makes no representation as to information relating to the other registrants.

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants 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:

---

| | | | |
|:---|:---|:---|:---|
| Registrant | Title of each class | Trading<br>Symbol(s) | Name of each exchange<br>on which registered |
| The Southern Company | Common Stock, par value $5 per share | SO | New York Stock Exchange |
| The Southern Company | Series 2017B 5.25% Junior Subordinated Notes due 2077 | SOJC | New York Stock Exchange |
| The Southern Company | Series 2020A 4.95% Junior Subordinated Notes due 2080 | SOJD | New York Stock Exchange |
| The Southern Company | Series 2020C 4.20% Junior Subordinated Notes due 2060 | SOJE | New York Stock Exchange |
| The Southern Company | Series 2021B 1.875% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2081 | SO 81 | New York Stock Exchange |
| The Southern Company | Series 2025A 6.50% Junior Subordinated Notes due 2085 | SOJF | New York Stock Exchange |
| Georgia Power Company | Series 2017A 5.00% Junior Subordinated Notes due 2077 | GPJA | New York Stock Exchange |
| Southern Power Company | Series 2016B 1.850% Senior Notes due 2026 | SO/26A | 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). (Response applicable to each registrant)

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. ☐

------

---

| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition** |

---

The information in this Current Report on Form 8-K, including the exhibits attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. Furthermore, such information, including the exhibits attached hereto, shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

On October 30, 2025, The Southern Company ("Southern Company") issued a press release regarding its earnings for the three-month and nine-month periods ended September 30, 2025, including certain additional information regarding the financial results for such period. A copy of this release is being furnished as Exhibit 99 to this Current Report on Form 8-K.

*Use of Non-GAAP Financial Measures*

Exhibit 99 to this Current Report on Form 8-K includes earnings and earnings per share in accordance with generally accepted accounting principles ("GAAP") for the three-month and nine-month periods ended September 30, 2025 and 2024. The exhibit also includes earnings and earnings per share (1) for the three-month and nine-month periods ended September 30, 2025 and 2024, excluding charges (net of salvage proceeds) and credits, associated legal expenses (net of insurance recoveries), and tax impacts related to plants under construction, (2) for the three-month and nine-month periods ended September 30, 2025, excluding (a) accelerated depreciation related to the repowering of certain wind facilities at Southern Power Company and (b) disposition impacts related to the sale of a multi-use commercial facility development at Alabama Power Company, (3) for the nine-month period ended September 30, 2025, excluding costs associated with the extinguishment of debt at Southern Company, and (4) for the three-month and nine-month periods ended September 30, 2024, excluding an impairment loss associated with Alabama Power Company discontinuing development of the multi-use commercial facility discussed above. The attached exhibit includes additional information regarding these excluded

------

items, as well as reconciliations of each non-GAAP financial measure to the most comparable financial measure under GAAP. Southern Company believes the presentation of earnings and earnings per share, excluding these items, is useful to investors because it provides investors with additional information to evaluate the performance of Southern Company's ongoing business activities. Southern Company management also uses earnings and earnings per share, excluding the effect of these items, to evaluate the performance of Southern Company's ongoing business activities. The presentation of this additional information is not meant to be considered a substitute for financial measures prepared in accordance with GAAP.

*Exhibits*

Exhibit 99 contains business segment information for Alabama Power Company, Georgia Power Company, Mississippi Power Company, Southern Power Company and Southern Company Gas. Accordingly, this report is also being furnished on behalf of each such registrant.

---

| | |
|:---|:---|
| Exhibit 99 | <u>[Press Release.](ex99-pressreleaseq32025.htm)</u> |
| Exhibit 104 | Cover Page Interactive Data File – The cover page iXBRL tags are embedded within the inline XBRL document. |

---

------

SIGNATURES

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

---

| | | |
|:---|:---|:---|
| Date: October 30, 2025 | THE SOUTHERN COMPANY | THE SOUTHERN COMPANY |
|  | By | /s/Matthew M. Kim |
|  |  | Matthew M. Kim<br>Comptroller |
|  | ALABAMA POWER COMPANY<br>GEORGIA POWER COMPANY<br>MISSISSIPPI POWER COMPANY<br>SOUTHERN POWER COMPANY<br>SOUTHERN COMPANY GAS | ALABAMA POWER COMPANY<br>GEORGIA POWER COMPANY<br>MISSISSIPPI POWER COMPANY<br>SOUTHERN POWER COMPANY<br>SOUTHERN COMPANY GAS |
|  | By | /s/Melissa K. Caen |
|  |  | Melissa K. Caen<br>Assistant Secretary |

---

## Ex-99

Exhibit 99

---

| | | |
|:---|:---|:---|
| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![socologoa22a.gif](socologoa22a.gif) |
| **News** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![socologoa22a.gif](socologoa22a.gif) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![socologoa22a.gif](socologoa22a.gif) |
| **Media Contact:** | Southern Company Media Relations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![socologoa22a.gif](socologoa22a.gif) |
|  | 404-506-5333 or 1-866-506-5333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![socologoa22a.gif](socologoa22a.gif) |
|  | <u>southerncompany.com</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![socologoa22a.gif](socologoa22a.gif) |
| **Investor Relations Contact:** | Greg MacLeod |  |
|  | 404-685-4194 |  |
|  | <u>gbmacleo@southernco.com</u> |  |
|  |  | October 30, 2025 |

---

**Southern Company reports third-quarter 2025 earnings**

ATLANTA – Southern Company today reported third-quarter earnings of $1.7 billion, or $1.55 per share, in 2025 compared with earnings of $1.5 billion, or $1.40 per share, in the third quarter of 2024. For the nine months ended September 30, 2025, Southern Company reported earnings of $3.93 billion, or $3.56 per share, compared with $3.87 billion, or $3.53 per share, for the same period in 2024.

Excluding the items described under "Net Income – Excluding Items" in the table below, Southern Company earned $1.8 billion, or $1.60 per share, during the third quarter of 2025, compared with $1.6 billion, or $1.43 per share, during the third quarter of 2024. For the nine months ended September 30, 2025, excluding these items, Southern Company earned $4.1 billion, or $3.76 per share, compared with $3.9 billion, or $3.56 per share, for the same period in 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Non-GAAP Financial Measures** | **Three Months Ended September** | **Three Months Ended September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** |
| **Net Income – Excluding Items (in millions)** | **2025** | 2024 | **2025** | 2024 |
| Net Income – As Reported | $**1711** | $1535 | $**3925** | $3867 |
| Less: |  |  |  |  |
| &nbsp;&nbsp;Estimated Loss on Plants Under Construction | **32** | (3) | **27** | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **(8)** | 1 | **(11)** | (16) |
| &nbsp;&nbsp;Accelerated Depreciation from Repowering | **(103)** |  | **(168)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **23** |  | **38** |  |
| &nbsp;&nbsp;Loss on Extinguishment of Debt | **—** |  | **(129)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **—** |  | **32** |  |
| &nbsp;&nbsp;Disposition Impacts | **2** |  | **2** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **(1)** |  | **(1)** |  |
| &nbsp;&nbsp;Impairments | **—** | (36) | **—** | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **—** | 9 | **—** | 9 |
| **Net Income – Excluding Items** | $**1766** | $1564 | $**4135** | $3899 |
| &nbsp;&nbsp;&nbsp;&nbsp;Average Shares Outstanding – (in millions) | **1102** | 1097 | **1101** | 1096 |
| Basic Earnings Per Share – Excluding Items | $**1.60** | $1.43 | $**3.76** | $3.56 |

---

NOTE: For more information regarding these non-GAAP adjustments, see the footnotes accompanying the Financial Highlights page of the earnings package.

Adjusted earnings drivers for the third quarter 2025, as compared with the same period in 2024, were higher utility revenues, partially offset by higher depreciation and amortization and interest expense, as well as milder weather.

------

Third-quarter 2025 operating revenues were $7.8 billion, compared with $7.3 billion for the third quarter of 2024, an increase of 7.5%. For the nine months ended September 30, 2025, operating revenues were $22.6 billion, compared with $20.4 billion for the corresponding period in 2024, an increase of 10.7%.

"Southern Company's robust third quarter performance comes as the momentum around electric demand growth opportunities and interest in our service territories continue to build," said Chris Womack, chairman, president and CEO. "Our 28,000 system employees remain focused on meeting these growing needs in a way that benefits all customers while also providing premier reliability and resilient service for our company's 9 million customers. It is that disciplined approach and our unwavering commitment to put customers at the center of all that we do that positions us to finish the year strong and continues to position us to capture the opportunities ahead."

Southern Company's third-quarter earnings slides with supplemental financial information are available at <u>investor.southerncompany.com</u>.

Southern Company's financial analyst call will begin at 1 p.m. Eastern Time today, during which Womack and Chief Financial Officer David P. Poroch will discuss earnings and provide a general business update. Investors, media and the public may listen to a live webcast of the call and view associated slides at <u>investor.southerncompany.com</u>. A replay of the webcast will be available on the site for 12 months.

**About Southern Company**

Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy solutions provider with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers' and communities' needs while advancing our goal of net-zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture has been recognized by a variety of organizations, earning the company awards and recognitions that reflect Our Values and dedication to service. To learn more, visit <u>www.southerncompany.com</u>.

**Cautionary Note Regarding Forward-Looking Statements**

Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning projected electric demand growth, future opportunities and full-year 2025 performance. Southern Company cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Southern Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Southern Company's Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025 and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the impact of recent and future federal and state regulatory changes, including tax, environmental and other laws and regulations to which Southern Company and its subsidiaries are subject, as well as changes in application of existing laws, regulations and guidance; the extent and timing of costs and legal requirements related to coal combustion residuals; current and future litigation or regulatory investigations, proceedings, or inquiries, including litigation related to the Kemper County energy facility; the effects, extent, and timing of the entry

------

of additional competition in the markets in which Southern Company's subsidiaries operate, including from the development and deployment of alternative energy sources; variations in demand for electricity and natural gas; available sources and costs of natural gas and other fuels and commodities; the ability to complete necessary or desirable pipeline expansion or infrastructure projects, limits on pipeline capacity, public and policymaker support for such projects, and operational interruptions to natural gas distribution and transmission activities; transmission constraints; the ability to control costs and avoid cost and schedule overruns during the development, construction, and operation of facilities or other projects due to challenges which include, but are not limited to, changes in labor costs, availability, and productivity, challenges with the management of contractors or vendors, subcontractor performance, adverse weather conditions, shortages, delays, increased costs, or inconsistent quality of equipment, materials, and labor, contractor or supplier delay, the impacts of inflation and tariffs, delays due to judicial or regulatory action, nonperformance under construction, operating, or other agreements, operational readiness, including specialized operator training and required site safety programs, engineering or design problems or any remediation related thereto, design and other licensing-based compliance matters, challenges with start-up activities, including major equipment failure or system integration, and/or operational performance, challenges related to future pandemic health events, continued public and policymaker support for projects, environmental and geological conditions, delays or increased costs to interconnect facilities to transmission grids, and increased financing costs as a result of changes in interest rates or as a result of project delays; legal proceedings and regulatory approvals and actions related to past, ongoing, and proposed construction projects, including state public service commission or other applicable state regulatory agency approvals and Federal Energy Regulatory Commission and U.S. Nuclear Regulatory Commission actions; the ability to construct facilities in accordance with the requirements of permits and licenses, to satisfy any environmental performance standards and the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; investment performance of the employee and retiree benefit plans and nuclear decommissioning trust funds; advances in technology, including the pace and extent of development of low- to no-carbon energy and battery energy storage technologies and negative carbon concepts; performance of counterparties under ongoing renewable energy partnerships and development agreements; state and federal rate regulations and the impact of pending and future rate cases and negotiations, including rate actions relating to return on equity, equity ratios, additional generating capacity and transmission facilities, extension of retirement dates for fossil fuel plants, and fuel and other cost recovery mechanisms; the ability to successfully operate Southern Company's electric utilities' generation, transmission, distribution, and battery energy storage facilities, as applicable, and Southern Company Gas' natural gas distribution and storage facilities and the successful performance of necessary corporate functions; the inherent risks involved in operating nuclear generating facilities; the inherent risks involved in generation, transmission, and distribution of electricity and transportation and storage of natural gas, including accidents, explosions, fires, mechanical problems, discharges or releases of toxic or hazardous substances or gases, and other environmental risks; the performance of projects undertaken by the non-utility businesses and the success of efforts to invest in and develop new opportunities; internal restructuring or other restructuring options that may be pursued; potential business strategies, including acquisitions or dispositions of assets or businesses, or interests therein, which cannot be assured to be completed or beneficial to Southern Company or its subsidiaries; the ability of counterparties of Southern Company and its subsidiaries to make payments as and when due and to perform as required; the ability to obtain new short- and long-term contracts with wholesale customers; the direct or indirect effect on the Southern Company system's business resulting from cyber intrusion or physical attack and the threat of cyber and physical attacks; global and U.S. economic conditions, including impacts from geopolitical conflicts, recession, inflation, changes in trade policies (including tariffs and other trade measures) of the United States and other countries, interest rate fluctuations, and financial market conditions, and the results of financing efforts; access to capital markets and other financing sources; changes in Southern Company's and any of its subsidiaries' credit ratings; the ability of Southern Company's electric utilities to obtain additional generating capacity (or sell excess generating capacity) at

------

competitive prices; catastrophic events such as fires, earthquakes, explosions, floods, tornadoes, hurricanes and other storms, droughts, pandemic health events, political unrest, wars, or other similar occurrences; the direct or indirect effects on the Southern Company system's business resulting from incidents affecting the U.S. electric grid, natural gas pipeline infrastructure, or operation of generating or storage resources; impairments of goodwill or long-lived assets; and the effect of accounting pronouncements issued periodically by standard-setting bodies. Southern Company expressly disclaims any obligation to update any forward-looking information.

###

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** |
| **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** |
| ***(In Millions Except Earnings Per Share)*** | ***(In Millions Except Earnings Per Share)*** | ***(In Millions Except Earnings Per Share)*** | ***(In Millions Except Earnings Per Share)*** | ***(In Millions Except Earnings Per Share)*** |
| | **Three Months Ended September** | **Three Months Ended September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** |
| **Net Income – As Reported** | **2025** | 2024 | **2025** | 2024 |
| &nbsp;&nbsp;Traditional Electric Operating Companies | $**1920** | $1618 | $**3994** | $3630 |
| &nbsp;&nbsp;Southern Power | **3** | 82 | **141** | 264 |
| &nbsp;&nbsp;Southern Company Gas | **25** | 38 | **549** | 555 |
| &nbsp;&nbsp;**Total** | **1948** | 1738 | **4684** | 4449 |
| &nbsp;&nbsp;Parent Company and Other | **(237)** | (203) | **(759)** | (582) |
| &nbsp;&nbsp;**Net Income – As Reported** | $**1711** | $1535 | $**3925** | $3867 |
| &nbsp;&nbsp;Basic Earnings Per Share<sup>(1)</sup> | $**1.55** | $1.40 | $**3.56** | $3.53 |
| &nbsp;&nbsp;Average Shares Outstanding | **1102** | 1097 | **1101** | 1096 |
| **Non-GAAP Financial Measures** | **Three Months Ended September** | **Three Months Ended September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** |
| **Net Income – Excluding Items** | **2025** | 2024 | **2025** | 2024 |
| &nbsp;&nbsp;Net Income – As Reported | $**1711** | $1535 | $**3925** | $3867 |
| &nbsp;&nbsp;Less: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Estimated Loss on Plants Under Construction<sup>(2)</sup> | **32** | (3) | **27** | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **(8)** | 1 | **(11)** | (16) |
| &nbsp;&nbsp;&nbsp;Accelerated Depreciation from Repowering<sup>(3)</sup> | **(103)** |  | **(168)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **23** |  | **38** |  |
| &nbsp;&nbsp;&nbsp;Loss on Extinguishment of Debt<sup>(4)</sup> | **—** |  | **(129)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **—** |  | **32** |  |
| &nbsp;&nbsp;&nbsp;Disposition Impacts<sup>(5)</sup> | **2** |  | **2** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **(1)** |  | **(1)** |  |
| &nbsp;&nbsp;&nbsp;Impairments<sup>(5)</sup> | **—** | (36) | **—** | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Impact | **—** | 9 | **—** | 9 |
| &nbsp;&nbsp;**Net Income – Excluding Items** | $**1766** | $1564 | $**4135** | $3899 |
| &nbsp;&nbsp;Basic Earnings Per Share – Excluding Items | $**1.60** | $1.43 | $**3.76** | $3.56 |

---

See Notes on the following page.

------

**Southern Company**

**Financial Highlights**

**<u>Notes</u>**

(1)Dilution is not material in any period presented. Diluted earnings per share was $1.54 and $3.54 for the three and nine months ended September 30, 2025, respectively, and $1.39 and $3.51 for the three and nine months ended September 30, 2024, respectively.

(2)Earnings include pre-tax credits to income of $33 million ($25 million after tax) for the three and nine months ended September 30, 2025 and $21 million ($16 million after tax) for the nine months ended September 30, 2024 related to the estimated probable loss on Plant Vogtle Units 3 and 4 reflecting revisions to Georgia Power Company's total project capital cost forecast resulting from reductions in remaining expected site demobilization costs and other contractor obligations. Site demobilization efforts were completed during the third quarter 2025. Additionally, earnings for the nine months ended September 30, 2025 and 2024 include income tax charges of $4 million and $14 million, respectively, related to the remeasuring of deferred tax assets associated with the previously recognized estimated probable loss on Plant Vogtle Units 3 and 4 due to changes in the State of Georgia corporate tax rate. Further charges and/or credits may occur; however, the amount and timing are uncertain. Earnings for the three and nine months ended September 30, 2025 and 2024 also include charges (net of salvage proceeds), associated legal expenses (net of insurance recoveries), and tax impacts related to Mississippi Power Company's integrated coal gasification combined cycle facility project in Kemper County, Mississippi. Mississippi Power Company expects to incur additional pre-tax period costs through the end of 2025 related to dismantlement of the abandoned gasifier-related assets and site restoration activities, including related costs for compliance and safety, asset retirement obligation accretion, and property taxes, net of salvage.

(3)Earnings for the three and nine months ended September 30, 2025 include pre-tax charges, net of noncontrolling interests impacts, of $103 million ($80 million after tax) and $168 million ($130 million after tax), respectively, associated with accelerated depreciation related to the repowering of certain wind facilities at Southern Power. Accelerated depreciation related to the equipment being replaced will continue until the commercial operation dates of the repowering projects, which are projected to occur between the third quarter 2026 and the second quarter 2027. At September 30, 2025, the remaining pre-tax accelerated depreciation, net of noncontrolling interest impacts, is projected to total approximately $100 million in 2025, $320 million in 2026, and $25 million in 2027.

(4)Earnings for the nine months ended September 30, 2025 include costs associated with the extinguishment of debt at Southern Company as a result of Southern Company's repurchase of certain convertible senior notes. Similar transaction costs may occur in the future at Southern Company or one of its unregulated subsidiaries; however, the amount and timing of any such costs are uncertain.

(5)Earnings for the three and nine months ended September 30, 2025 include a pre-tax gain of $2 million ($1 million after tax) related to the sale of a multi-use commercial facility development at Alabama Power Company. Further impacts may result from future disposition activities; however, the amount and timing of any such impacts are uncertain. Earnings for the three and nine months ended September 30, 2024 include a pre-tax impairment loss of $36 million ($27 million after tax) associated with Alabama Power Company discontinuing development of the multi-use commercial facility. Impairment charges may occur in the future; however, the amount and timing of any such charges are uncertain.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** |
| **Significant Factors Impacting EPS** | **Significant Factors Impacting EPS** | **Significant Factors Impacting EPS** | **Significant Factors Impacting EPS** | **Significant Factors Impacting EPS** | **Significant Factors Impacting EPS** | **Significant Factors Impacting EPS** |
| | **Three Months Ended September** | **Three Months Ended September** | **Three Months Ended September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** |
|  | **2025** | 2024 | Change | **2025** | 2024 | Change |
| **Earnings Per Share –** |  |  |  |  |  |  |
| **As Reported**<sup>(1)</sup> | $**1.55** | $1.40 | $**0.15** | $**3.56** | $3.53 | $**0.03** |
| **Significant Factors:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Traditional Electric Operating Companies |  |  | $**0.28** |  |  | $**0.33** |
| &nbsp;&nbsp;Southern Power |  |  | **(0.07)** |  |  | **(0.11)** |
| &nbsp;&nbsp;Southern Company Gas |  |  | **(0.01)** |  |  | **(0.01)** |
| &nbsp;&nbsp;Parent Company and Other |  |  | **(0.04)** |  |  | **(0.16)** |
| &nbsp;&nbsp;Increase in Shares |  |  | **(0.01)** |  |  | **(0.02)** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total – As Reported** |  |  | $**0.15** |  |  | $**0.03** |
|  | **Three Months Ended September** | **Three Months Ended September** | **Three Months Ended September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** |
| **Non-GAAP Financial Measures** | **2025** | 2024 | Change | **2025** | 2024 | Change |
| **Earnings Per Share –** |  |  |  |  |  |  |
| **Excluding Items** | $**1.60** | $1.43 | $**0.17** | $**3.76** | $3.56 | $**0.20** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total – As Reported** |  |  | $**0.15** |  |  | $**0.03** |
| &nbsp;&nbsp;Less: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Estimated Loss on Plants Under Construction<sup>(2)</sup> |  |  | **0.02** |  |  | **0.02** |
| &nbsp;&nbsp;&nbsp;Accelerated Depreciation from Repowering<sup>(3)</sup> |  |  | **(0.07)** |  |  | **(0.12)** |
| &nbsp;&nbsp;&nbsp;Loss on Extinguishment of Debt<sup>(4)</sup> |  |  | **—** |  |  | **(0.09)** |
| &nbsp;&nbsp;&nbsp;Disposition Impacts<sup>(5)</sup> |  |  | **—** |  |  | **—** |
| &nbsp;&nbsp;&nbsp;Impairments<sup>(5)</sup> |  |  | **0.03** |  |  | **0.02** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total – Excluding Items** |  |  | $**0.17** |  |  | $**0.20** |

---

See Notes on the following page.

------

**Southern Company**

**Significant Factors Impacting EPS**

**<u>Notes</u>**

(1)Dilution is not material in any period presented. Diluted earnings per share was $1.54 and $3.54 for the three and nine months ended September 30, 2025, respectively, and $1.39 and $3.51 for the three and nine months ended September 30, 2024, respectively.

(2)Earnings include pre-tax credits to income of $33 million ($25 million after tax) for the three and nine months ended September 30, 2025 and $21 million ($16 million after tax) for the nine months ended September 30, 2024 related to the estimated probable loss on Plant Vogtle Units 3 and 4 reflecting revisions to Georgia Power Company's total project capital cost forecast resulting from reductions in remaining expected site demobilization costs and other contractor obligations. Site demobilization efforts were completed during the third quarter 2025. Additionally, earnings for the nine months ended September 30, 2025 and 2024 include income tax charges of $4 million and $14 million, respectively, related to the remeasuring of deferred tax assets associated with the previously recognized estimated probable loss on Plant Vogtle Units 3 and 4 due to changes in the State of Georgia corporate tax rate. Further charges and/or credits may occur; however, the amount and timing are uncertain. Earnings for the three and nine months ended September 30, 2025 and 2024 also include charges (net of salvage proceeds), associated legal expenses (net of insurance recoveries), and tax impacts related to Mississippi Power Company's integrated coal gasification combined cycle facility project in Kemper County, Mississippi. Mississippi Power Company expects to incur additional pre-tax period costs through the end of 2025 related to dismantlement of the abandoned gasifier-related assets and site restoration activities, including related costs for compliance and safety, asset retirement obligation accretion, and property taxes, net of salvage.

(3)Earnings for the three and nine months ended September 30, 2025 include pre-tax charges, net of noncontrolling interests impacts, of $103 million ($80 million after tax) and $168 million ($130 million after tax), respectively, associated with accelerated depreciation related to the repowering of certain wind facilities at Southern Power. Accelerated depreciation related to the equipment being replaced will continue until the commercial operation dates of the repowering projects, which are projected to occur between the third quarter 2026 and the second quarter 2027. At September 30, 2025, the remaining pre-tax accelerated depreciation, net of noncontrolling interest impacts, is projected to total approximately $100 million in 2025, $320 million in 2026, and $25 million in 2027.

(4)Earnings for the nine months ended September 30, 2025 include costs associated with the extinguishment of debt at Southern Company as a result of Southern Company's repurchase of certain convertible senior notes. Similar transaction costs may occur in the future at Southern Company or one of its unregulated subsidiaries; however, the amount and timing of any such costs are uncertain.

(5)Earnings for the three and nine months ended September 30, 2025 include a pre-tax gain of $2 million ($1 million after tax) related to the sale of a multi-use commercial facility development at Alabama Power Company. Further impacts may result from future disposition activities; however, the amount and timing of any such impacts are uncertain. Earnings for the three and nine months ended September 30, 2024 include a pre-tax impairment loss of $36 million ($27 million after tax) associated with Alabama Power Company discontinuing development of the multi-use commercial facility. Impairment charges may occur in the future; however, the amount and timing of any such charges are uncertain.

------

---

| | | |
|:---|:---|:---|
| **Southern Company** | **Southern Company** | **Southern Company** |
| **EPS Earnings Analysis** | **EPS Earnings Analysis** | **EPS Earnings Analysis** |
| **Description** | **Three Months Ended**<br>**September**<br>**2025 vs. 2024** | **Year-To-Date**<br>**September**<br>**2025 vs. 2024** |
| Retail Sales | 7¢ | 12¢ |
| Retail Revenue Impacts | 15 | 53 |
| Weather | (5) | (4) |
| Wholesale and Other Operating Revenues | 4 | 16 |
| Non-Fuel Operations and Maintenance Expenses<sup>(1)</sup> |  | (16) |
| Depreciation and Amortization | (5) | (17) |
| Interest Expense and Other | 6 | (9) |
| Income Taxes | 1 | (6) |
| **Total Traditional Electric Operating Companies** | **23¢** | **29¢** |
| Southern Power |  | 1 |
| Southern Company Gas | (1) | (1) |
| Parent Company and Other | (4) | (7) |
| Increase in Shares | (1) | (2) |
| **Total Change in EPS (Excluding Items)** | **17¢** | **20¢** |
| Estimated Loss on Plants Under Construction<sup>(2)</sup> | 2 | 2 |
| Accelerated Depreciation from Repowering<sup>(3)</sup> | (7) | (12) |
| Loss on Extinguishment of Debt<sup>(4)</sup> |  | (9) |
| Disposition Impacts<sup>(5)</sup> |  |  |
| Impairments<sup>(5)</sup> | 3 | 2 |
| **Total Change in EPS (As Reported)** | **15¢** | **3¢** |

---

See Notes on the following page.

------

**Southern Company**

**EPS Earnings Analysis**

**<u>Notes</u>**

(1)Excludes gains/losses on asset sales, which are included in "Interest Expense and Other." Includes non-service cost-related benefits income.

(2)Earnings include pre-tax credits to income of $33 million ($25 million after tax) for the three and nine months ended September 30, 2025 and $21 million ($16 million after tax) for the nine months ended September 30, 2024 related to the estimated probable loss on Plant Vogtle Units 3 and 4 reflecting revisions to Georgia Power Company's total project capital cost forecast resulting from reductions in remaining expected site demobilization costs and other contractor obligations. Site demobilization efforts were completed during the third quarter 2025. Additionally, earnings for the nine months ended September 30, 2025 and 2024 include income tax charges of $4 million and $14 million, respectively, related to the remeasuring of deferred tax assets associated with the previously recognized estimated probable loss on Plant Vogtle Units 3 and 4 due to changes in the State of Georgia corporate tax rate. Further charges and/or credits may occur; however, the amount and timing are uncertain. Earnings for the three and nine months ended September 30, 2025 and 2024 also include charges (net of salvage proceeds), associated legal expenses (net of insurance recoveries), and tax impacts related to Mississippi Power Company's integrated coal gasification combined cycle facility project in Kemper County, Mississippi. Mississippi Power Company expects to incur additional pre-tax period costs through the end of 2025 related to dismantlement of the abandoned gasifier-related assets and site restoration activities, including related costs for compliance and safety, asset retirement obligation accretion, and property taxes, net of salvage.

(3)Earnings for the three and nine months ended September 30, 2025 include pre-tax charges, net of noncontrolling interests impacts, of $103 million ($80 million after tax) and $168 million ($130 million after tax), respectively, associated with accelerated depreciation related to the repowering of certain wind facilities at Southern Power. Accelerated depreciation related to the equipment being replaced will continue until the commercial operation dates of the repowering projects, which are projected to occur between the third quarter 2026 and the second quarter 2027. At September 30, 2025, the remaining pre-tax accelerated depreciation, net of noncontrolling interest impacts, is projected to total approximately $100 million in 2025, $320 million in 2026, and $25 million in 2027.

(4)Earnings for the nine months ended September 30, 2025 include costs associated with the extinguishment of debt at Southern Company as a result of Southern Company's repurchase of certain convertible senior notes. Similar transaction costs may occur in the future at Southern Company or one of its unregulated subsidiaries; however, the amount and timing of any such costs are uncertain.

(5)Earnings for the three and nine months ended September 30, 2025 include a pre-tax gain of $2 million ($1 million after tax) related to the sale of a multi-use commercial facility development at Alabama Power Company. Further impacts may result from future disposition activities; however, the amount and timing of any such impacts are uncertain. Earnings for the three and nine months ended September 30, 2024 include a pre-tax impairment loss of $36 million ($27 million after tax) associated with Alabama Power Company discontinuing development of the multi-use commercial facility. Impairment charges may occur in the future; however, the amount and timing of any such charges are uncertain.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** |
| **Consolidated Earnings** | **Consolidated Earnings** | **Consolidated Earnings** | **Consolidated Earnings** | **Consolidated Earnings** | **Consolidated Earnings** | **Consolidated Earnings** |
| **As Reported** | **As Reported** | **As Reported** | **As Reported** | **As Reported** | **As Reported** | **As Reported** |
| | **Three Months Ended September** | **Three Months Ended September** | **Three Months Ended September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** |
|  | **2025** | 2024 | Change | **2025** | 2024 | Change |
|  | *(in millions)* | *(in millions)* | *(in millions)* | *(in millions)* | *(in millions)* | *(in millions)* |
| Retail electric revenues: |  |  |  |  |  |  |
| &nbsp;&nbsp;Fuel | $**1265** | $1179 | $86 | $**3622** | $3250 | $372 |
| &nbsp;&nbsp;Non-fuel | **4442** | 4187 | 255 | **11443** | 10543 | 900 |
| Wholesale electric revenues | **832** | 721 | 111 | **2257** | 1919 | 338 |
| Other electric revenues | **262** | 222 | 40 | **724** | 631 | 93 |
| Natural gas revenues | **734** | 682 | 52 | **3552** | 3220 | 332 |
| Other revenues | **288** | 283 | 5 | **974** | 820 | 154 |
| **Total operating revenues** | **7823** | 7274 | 549 | **22572** | 20383 | 2189 |
| Fuel and purchased power | **1604** | 1395 | 209 | **4522** | 3843 | 679 |
| Cost of natural gas | **116** | 98 | 18 | **1046** | 852 | 194 |
| Cost of other sales | **156** | 166 | (10) | **522** | 464 | 58 |
| Non-fuel operations and maintenance | **1643** | 1662 | (19) | **4948** | 4522 | 426 |
| Depreciation and amortization | **1422** | 1210 | 212 | **4030** | 3537 | 493 |
| Taxes other than income taxes | **288** | 375 | (87) | **1136** | 1155 | (19) |
| **Total operating expenses** | **5229** | 4906 | 323 | **16204** | 14373 | 1831 |
| **Operating income** | **2594** | 2368 | 226 | **6368** | 6010 | 358 |
| Allowance for equity funds used during construction | **90** | 58 | 32 | **243** | 167 | 76 |
| Earnings from equity method investments | **33** | 31 | 2 | **76** | 107 | (31) |
| Interest expense, net of amounts capitalized | **755** | 692 | 63 | **2343** | 2050 | 293 |
| Other income (expense), net | **149** | 147 | 2 | **459** | 450 | 9 |
| Income taxes | **404** | 377 | 27 | **973** | 890 | 83 |
| **Net income** | **1707** | 1535 | 172 | **3830** | 3794 | 36 |
| Net loss attributable to noncontrolling interests | **(4)** |  | (4) | **(95)** | (73) | (22) |
| **Net income attributable to Southern Company** | $**1711** | $1535 | $176 | $**3925** | $3867 | $58 |

---

Certain prior year data may have been reclassified to conform with current year presentation.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** |
| **Kilowatt-Hour Sales and Customers** | **Kilowatt-Hour Sales and Customers** | **Kilowatt-Hour Sales and Customers** | **Kilowatt-Hour Sales and Customers** | **Kilowatt-Hour Sales and Customers** | **Kilowatt-Hour Sales and Customers** | **Kilowatt-Hour Sales and Customers** | **Kilowatt-Hour Sales and Customers** | **Kilowatt-Hour Sales and Customers** |
| | **Three Months Ended September** | **Three Months Ended September** | **Three Months Ended September** | **Three Months Ended September** | **Year-To-Date September** | **Year-To-Date September** | **Year-To-Date September** | **Year-To-Date September** |
|  | **2025** | 2024 | % Change | Weather Adjusted % Change | **2025** | 2024 | % Change | Weather Adjusted % Change |
|  | *(in millions)* | *(in millions)* |  |  | *(in millions)* | *(in millions)* |  |  |
| **Kilowatt-Hour Sales** | **Kilowatt-Hour Sales** |  |  |  |  |  |  |  |
| Total Sales | **56627** | 56035 | 1.1% |  | **154971** | 152461 | 1.6% |  |
| Total Retail Sales | **42369** | 41893 | 1.1% | 2.6% | **116006** | 114154 | 1.6% | 1.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential | **14631** | 14677 | (0.3)% | 2.7% | **38829** | 38442 | 1.0% | 1.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | **14607** | 14279 | 2.3% | 3.5% | **39295** | 38419 | 2.3% | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Industrial | **12996** | 12803 | 1.5% | 1.5% | **37488** | 36889 | 1.6% | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **135** | 134 | 1.1% | 1.9% | **394** | 404 | (2.5)% | (2.5)% |
| Total Wholesale Sales | **14258** | 14142 | 0.8% | N/A | **38965** | 38307 | 1.7% | N/A |
|  |  |  |  |  | **Period Ended September** | **Period Ended September** | **Period Ended September** |  |
|  |  |  |  |  | **2025** | 2024 | % Change |  |
|  |  |  |  |  | *(in thousands)* | *(in thousands)* |  |  |
| **Regulated Utility Customers** | **Regulated Utility Customers** | **Regulated Utility Customers** |  |  |  |  |  |  |
| Total Regulated Utility Customers | Total Regulated Utility Customers | Total Regulated Utility Customers |  |  | **8934** | 8865 | 0.8% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Traditional Electric Operating Companies | &nbsp;&nbsp;&nbsp;&nbsp;Traditional Electric Operating Companies | &nbsp;&nbsp;&nbsp;&nbsp;Traditional Electric Operating Companies | &nbsp;&nbsp;&nbsp;&nbsp;Traditional Electric Operating Companies |  | **4580** | 4530 | 1.1% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Southern Company Gas | &nbsp;&nbsp;&nbsp;&nbsp;Southern Company Gas | &nbsp;&nbsp;&nbsp;&nbsp;Southern Company Gas |  |  | **4354** | 4335 | 0.4% |  |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** | **Southern Company** |
| **Financial Overview** | **Financial Overview** | **Financial Overview** | **Financial Overview** | **Financial Overview** | **Financial Overview** | **Financial Overview** |
| **As Reported** | **As Reported** | **As Reported** | **As Reported** | **As Reported** | **As Reported** | **As Reported** |
| | **Three Months Ended September** | **Three Months Ended September** | **Three Months Ended September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** | **Year-To-Date**<br>**September** |
|  | **2025** | 2024 | % Change | **2025** | 2024 | % Change |
|  | *(in millions)* | *(in millions)* |  | *(in millions)* | *(in millions)* |  |
| **Southern Company –** |  |  |  |  |  |  |
| Operating Revenues | $**7823** | $7274 | 7.5% | $**22572** | $20383 | 10.7% |
| Earnings Before Income Taxes | **2111** | 1912 | 10.4% | **4803** | 4684 | 2.5% |
| Net Income Available to Common | **1711** | 1535 | 11.5% | **3925** | 3867 | 1.5% |
| **Alabama Power –** |  |  |  |  |  |  |
| Operating Revenues | $**2318** | $2138 | 8.4% | $**6298** | $5803 | 8.5% |
| Earnings Before Income Taxes | **763** | 628 | 21.5% | **1744** | 1517 | 15.0% |
| Net Income Available to Common | **588** | 493 | 19.3% | **1343** | 1195 | 12.4% |
| **Georgia Power –** |  |  |  |  |  |  |
| Operating Revenues | $**3770** | $3472 | 8.6% | $**9918** | $8745 | 13.4% |
| Earnings Before Income Taxes | **1526** | 1296 | 17.7% | **3064** | 2765 | 10.8% |
| Net Income Available to Common | **1248** | 1050 | 18.9% | **2452** | 2249 | 9.0% |
| **Mississippi Power –** |  |  |  |  |  |  |
| Operating Revenues | $**480** | $412 | 16.5% | $**1301** | $1118 | 16.4% |
| Earnings Before Income Taxes | **108** | 97 | 11.3% | **256** | 233 | 9.9% |
| Net Income Available to Common | **84** | 75 | 12.0% | **198** | 186 | 6.5% |
| **Southern Power –** |  |  |  |  |  |  |
| Operating Revenues | $**613** | $600 | 2.2% | $**1726** | $1597 | 8.1% |
| Earnings Before Income Taxes | **5** | 115 | (95.7)% | **49** | 223 | (78.0)% |
| Net Income Available to Common | **3** | 82 | (96.3)% | **141** | 264 | (46.6)% |
| **Southern Company Gas –** |  |  |  |  |  |  |
| Operating Revenues | $**734** | $682 | 7.6% | $**3552** | $3220 | 10.3% |
| Earnings Before Income Taxes | **31** | 49 | (36.7)% | **718** | 739 | (2.8)% |
| Net Income Available to Common | **25** | 38 | (34.2)% | **549** | 555 | (1.1)% |

---

See Financial Highlights pages for discussion of certain significant items occurring during the periods.

<br>