Document:

EX-4.4

 Exhibit 4.4 

Execution Version 

GUARANTY 
 THIS
GUARANTY (this “Guaranty”) is executed as of June 2, 2016, by the undersigned subsidiaries (each a “Guarantor” and, collectively, the “Guarantors”) of TALEN ENERGY SUPPLY, LLC (formerly
known as PPL Energy Supply, LLC), a limited liability company duly organized and existing under the laws of the State of Delaware (the “Company”), for the benefit of THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a
national banking association, as Trustee under the Indenture described below (the “Trustee”). 
 PRELIMINARY STATEMENTS

 WHEREAS, the Pennsylvania Economic Development Financing Authority, an instrumentality and body corporate and politic of the
Commonwealth of Pennsylvania (the “Issuer”), issued $81,375,700 aggregate principal amount of its Exempt Facilities Revenue Refunding Bonds, Series 2009C (PPL Energy Supply, LLC Project) (the “Bonds”) on behalf of
the Company under the Series 2009C Trust Indenture dated as of April 1, 2009 (together with any and all supplements and instruments supplemental thereto, the “Indenture”), between the Issuer and the Trustee; 

WHEREAS, in connection with the issuance of the Bonds, the Issuer and the Company entered into that certain Series 2009C Exempt Facilities
Loan Agreement, dated as of April 1, 2009 (the “Original Loan Agreement”), as amended and supplemented by the First Supplement thereto, dated as of September 1, 2015 (as so amended and supplemented, the “Loan
Agreement”), pursuant to which the Issuer loaned the proceeds of the Bonds to the Company for the purpose of refunding certain prior revenue bonds of the Issuer issued to finance certain projects on behalf of the Company, and the Company
agreed, among other things, to make loan payments thereunder in amounts and at times sufficient to pay when due the principal of, premium, if any, and interest on the Bonds; 

WHEREAS, the Company is a wholly owned indirect subsidiary of Talen Energy Corporation, a Delaware corporation (“Talen”); and

 WHEREAS, CRJ Parent LLC, RPH Parent LLC and SPH Parent LLC (collectively, “Parent”), RJS Merger Sub Inc.
(“Merger Sub”) and Talen have entered into that certain Agreement and Plan of Merger, dated on or about the date hereof (the “Merger Agreement”), pursuant to which Merger Sub, a Delaware corporation and a wholly
owned subsidiary of Parent, will merge with and into Talen (the “Merger”), with Talen continuing as the surviving corporation and a wholly owned subsidiary of Parent. 

NOW, THEREFORE, in consideration of the premises set forth herein and in order to enhance the Bonds, the Guarantors hereby agree for the
benefit of Trustee, acting on behalf of, and for the benefit of, the holders of the Bonds, as follows: 
 ARTICLE I 

Definitions 
 SECTION
1.01. Indenture. All capitalized terms used in this Guaranty and not otherwise defined herein, including terms defined in the preamble and preliminary statements hereto, shall have the meanings set forth in the Indenture as
originally in effect on the date hereof. 
 SECTION 1.02. Other Defined Terms. As used in this Guaranty, the following
terms have the meanings specified below: 
 “Loan Payments” shall have the meaning assigned to such term in the Loan
Agreement. 

 “Transactions” shall mean the Merger and the other transactions contemplated by
the Merger Agreement. 
 “Trigger Date” shall mean the closing date of the Transactions. 

ARTICLE II 
 Guarantees

 SECTION 2.01. Springing Guarantees. The guarantees evidenced by this Guaranty shall become effective if and when
the Trigger Date occurs. The Company shall provide the Trustee with written notice of the occurrence of the Trigger Date. The guarantees evidenced by this Guaranty are intended to be a present obligation of a future contingent commitment. 

SECTION 2.02. Guarantees. Each of the Guarantors hereby absolutely and unconditionally guarantees, from and after the
Trigger Date, jointly with the other Guarantors and severally, as primary obligor and not merely as surety, on a senior basis to the Trustee, for itself and for the benefit of the Bondholders, and to their respective successors and assigns that:

 (a) the Company’s Loan Payment obligations with respect to principal of, and premium, if any, interest, if any, or additional
amounts, if any, on the Bonds will be promptly paid in full when due, whether at maturity, by acceleration, upon repurchase or redemption, or otherwise, and interest on the overdue principal of, and premium, if any, and (to the extent permitted by
law) interest, if any, on the Bonds and all other Loan Payment obligations of the Company with respect to the payment obligations of the Issuer or the Company to the Bondholders or the Trustee under the Loan Agreement, the Indenture or the Bonds
will be promptly paid in full when due and performed, all in accordance with the terms hereof and thereof; and 
 (b) in case of any
extension of time of payment or renewal of any of the Company’s Loan Payment obligations, the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, subject to any applicable grace
period, whether at maturity, by acceleration, upon repurchase or redemption, or otherwise. 
 This Guaranty is an absolute, unconditional,
present and continuing guarantee of payment and performance (and not a guarantee of collection) and will be in no way conditioned upon any attempt to collect from the Company or any other Guarantor or any other action, occurrence or circumstance
whatsoever. 
 This Guaranty shall be unconditional, irrespective of the validity, regularity or enforceability of the Loan Agreement, the
Bonds or the Indenture, the absence of any action to enforce the same, any waiver or consent by any Bondholder with respect to any provisions hereof or thereof, the recovery of any judgment against the Issuer or the Company, any action to enforce
the same or any other circumstance (other than complete performance) which might otherwise constitute a legal or equitable discharge or defense of a Guarantor. Each Guarantor further, to the extent permitted by law, waives diligence, presentment,
demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Issuer or the Company, any right to require a proceeding first against the Issuer or the Company, protest, notice and all demands whatsoever. 

If any Bondholder or the Trustee is required by any court or otherwise to return to the Issuer, the Company, the Guarantors or any custodian,
trustee or other similar official acting in relation to any of the Issuer, the Company or the Guarantors, any amount paid by the Issuer, the Company or any Guarantor to the Trustee or such Bondholder, the guarantees hereunder, to the extent
theretofore discharged, shall be reinstated in full force and effect. 

  
 2 

 As between the Guarantors, on the one hand, and the Bondholders and the Trustee, on the other
hand, (a) the maturity of the obligations guaranteed hereby may be accelerated as provided in Section 11.02 of the Indenture and Section 3.2(a) of the Original Loan Agreement for the purposes of this Guaranty, notwithstanding any
stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed thereby, and (b) in the event of any declaration of acceleration of such obligations as provided in Section 11.02 of the Indenture
and Section 3.2(a) of the Original Loan Agreement, such obligations (whether or not due and payable) shall forthwith become due and payable by each Guarantor for the purpose of its guarantee. The Guarantors shall have the right to seek
contribution from any non-paying Guarantor so long as the existence of such right does not impair the guarantees hereunder. 
 Each
Guarantor acknowledges that it will receive direct and indirect benefits from the issuance of the Bonds under the Indenture and that the guarantee and waivers made by it pursuant to its guarantee hereunder are knowingly made in contemplation of such
benefits. 
 SECTION 2.03. Release and Termination of Guarantees.  

(a) Unless an Event of Default has occurred and is continuing and, to the extent applicable, subject to compliance by the Company with
Section 4.16 of the Loan Agreement, a Guarantor will be automatically and unconditionally released from its obligations hereunder and this Guaranty will be deemed to be terminated with respect to such Guarantor, without any release, agreement
or other action by the Trustee, the Issuer, any Bondholder or any other Person, upon: (i) any sale or other disposition of all or substantially all of the properties or assets of such Guarantor (including by way of merger, consolidation or
amalgamation) to a Person that is not (either before or after giving effect to such transaction) the Company or a subsidiary of the Company; (ii) any sale or other disposition of the capital stock of, or equity interests in, such Guarantor,
following which such Guarantor is no longer a subsidiary of the Company; (iii) satisfaction and discharge or defeasance of the Bonds in accordance with the Indenture (including Section 16.01 thereof); or (iv) the dissolution or
liquidation of such Guarantor. 
 (b) Notwithstanding the foregoing and in addition to its other rights hereunder and under the Loan
Agreement, the Indenture and the Bonds, the Company may elect, in its sole discretion, to release any or all of the Guarantors from their obligations hereunder (i) in connection with a reoffering and/or purchase of all the Bonds, (ii) upon
receipt from either Rating Agency of written confirmation that the rating assigned to the Bonds by such Rating Agency shall be no lower than such rating immediately prior to such release, after giving effect to the occurrence of such release, or
(iii) upon receipt of consent to such release by Bondholders constituting at least a majority in aggregate principal amount of the Bonds then outstanding. 

(c) The Company shall provide written notice to the Trustee upon the occurrence of any release pursuant to this Section 2.03. 

(d) For the avoidance of doubt, upon the automatic and unconditional release of any Guarantor from its obligations hereunder and termination
of this Guaranty with respect to such Guarantor, any Guarantor not so released from its obligations hereunder shall remain liable for the full amount of principal of, and premium, if any, interest, if any, or additional amounts, if any, on the Bonds
and for the other obligations of such Guarantor under the Indenture as provided in this Guaranty. 
 SECTION 2.04. Limitation
On Guarantor Liability. It is the intention of each Guarantor that its guarantee hereunder not constitute a fraudulent transfer or conveyance for purposes of any bankruptcy or insolvency law, the Uniform Fraudulent Conveyance Act (or any
successor thereto), the Uniform Fraudulent Transfer Act (or any successor thereto) or any similar federal or state or foreign law to the extent applicable to such guarantee. The obligations of each Guarantor with respect to its guarantee

  
 3 

 
hereunder will be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Guarantor and after giving effect to any collections from or
payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under its guarantee hereunder or pursuant to its contribution obligations hereunder, result in the obligations of such Guarantor hereunder not
constituting a fraudulent conveyance or fraudulent transfer under federal or state or foreign law and not otherwise being void or voidable under any similar laws affecting the rights of creditors generally. 

SECTION 2.05. Ranking. The obligation of each Guarantor to make payments of any amounts hereunder shall constitute
an unsecured obligation of such Guarantor ranking (1) pari passu with all existing and future senior unsecured indebtedness of such Guarantor and (2) senior in right of payment to all existing and future subordinated
indebtedness of such Guarantor. 
 SECTION 2.06. Subrogation. Upon satisfaction and discharge of the Bonds under
the Indenture, each Guarantor shall be subrogated to all rights of the Trustee and the Bondholders against the Company and the Issuer in respect of any amounts paid by such Guarantor hereunder. 

ARTICLE III 

Miscellaneous 
 SECTION
3.01. Amendments, Etc. No amendment, waiver or discharge to or under this Guaranty is valid unless it is in writing and is signed by the party against whom it is sought to be enforced. 

SECTION 3.02. Successors and Assigns. This Guaranty benefits the Trustee and the Bondholders and their respective
successors and assigns and, subject to Section 2.03 hereof, binds the Guarantors and their respective successors and assigns. 

SECTION 3.03. Counterparts. This Guaranty may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. Delivery of a counterpart via pdf or other electronic transmission
shall constitute delivery of an original counterpart.  
 SECTION 3.04. Governing Law. This Guaranty shall be
governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. 
 [Remainder of page intentionally left blank]

  
 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Guaranty to be duly executed as of
the day and year first written above. 
  

			
	TALEN INVESTMENT CORPORATION, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	TALEN GENERATION, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	SUSQUEHANNA NUCLEAR, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	MARTINS CREEK, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	BRUNNER ISLAND, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	PENNSYLVANIA MINES, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer

  
 [Signature Page to
Guaranty] 

 
			
	MONTOUR, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	LOWER MOUNT BETHEL ENERGY, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	RAVEN POWER GENERATION HOLDINGS, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	RAVEN POWER FINANCE LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	RAVEN POWER OPERATING LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	RAVEN POWER MARKETING LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer

  
 [Signature Page to
Guaranty] 

 
			
	RAVEN POWER FORT SMALLWOOD LLC, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	RAVEN LOT 15 LLC, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	RAVEN FS PROPERTY HOLDINGS LLC, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	FORT ARMISTEAD ROAD – LOT 15 LANDFILL, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	H.A. WAGNER LLC, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	BRANDON SHORES LLC, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer

  
 [Signature Page to
Guaranty] 

 
			
	JADE POWER GENERATION HOLDINGS LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	C/R TOPAZ HOLDINGS, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	TOPAZ POWER GROUP GP II, LLC, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	TOPAZ POWER GROUP LP II, LLC, as a Guarantor
		
	By:	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	BARNEY M. DAVIS, LP, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	 LAREDO WLE, LP, as a Guarantor

		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer

  
 [Signature Page to
Guaranty] 

 
			
	NUECES BAY WLE, LP, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	TALEN ENERGY MARKETING, LLC, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer
	
	TOPAZ POWER HOLDINGS, LLC, as a Guarantor
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer

 Acknowledged and agreed: 
  

			
	TALEN ENERGY SUPPLY, LLC, as the Company
		
	 By:
	 	 /s/ Russell R. Clelland

		 	Name: Russell R. Clelland
		 	Title: Vice President and Treasurer

  
 [Signature Page to
Guaranty]EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

SUPPORT AGREEMENT 
 This
SUPPORT AGREEMENT (this “Agreement”), dated as of June 2, 2016, is entered into by and among Talen Energy Corporation, a Delaware corporation (the “Company”), Raven Power Holdings LLC, C/R Energy Jade, LLC and
Sapphire Power Holdings LLC, each a Delaware limited liability company (each a “Holder” and collectively, the “Holders”). Capitalized terms used but not otherwise defined herein shall have the respective meanings
ascribed to them in the Merger Agreement (as defined below). 
 RECITALS 

WHEREAS, concurrently with the execution and delivery of this Agreement, the Company has entered into an Agreement and Plan of Merger (as may
be amended from time to time in accordance with its terms, the “Merger Agreement”) with RPH Parent LLC, CRJ Parent LLC and SPH Parent LLC, each a Delaware limited liability company (collectively, “Parent”), and RJS
Merger Sub Inc., a Delaware corporation and a wholly owned Subsidiary of Parent (“Merger Sub”), dated as of the date hereof, pursuant to which, upon the terms and subject to the conditions set forth therein, Merger Sub will merge
with and into the Company, with the Company as the surviving corporation; 
 WHEREAS, the Holders, collectively, beneficially own 44,974,658
shares of Company Common Stock as of the date hereof (collectively, together with any shares of Company Common Stock subsequently acquired, the “Subject Shares”); 

WHEREAS, as a condition to the willingness of the Company to enter into the Merger Agreement and as an inducement and in consideration
therefor, the Company has required that the Holders agree, and the Holders have agreed, to enter into this Agreement. 
 NOW, THEREFORE, in
consideration of the foregoing and the mutual premises, covenants and agreements contained in this Agreement, the parties intending to be legally bound, hereby agree as follows: 

ARTICLE I 
 VOTING

 Section 1.1 Agreement to Vote. Each Holder hereby agrees that: 

(a) at any meeting of stockholders of the Company (or any adjournment or postponement thereof) or in any other circumstance upon which a vote,
consent or other approval (including a written consent) with respect to the Merger Agreement, the Merger or any other transaction contemplated by the Merger Agreement is sought, such Holder shall vote or execute consents with respect to (or cause to
be voted or consents to be executed with respect to) all Subject Shares beneficially owned by such Holder as of the applicable record date in favor of the adoption and approval of the Merger Agreement, the Merger and any other transaction
contemplated by the Merger Agreement. 

 (b) such Holder shall vote or execute consents with respect to (or cause to be voted or consents
to be executed with respect to) all Subject Shares beneficially owned by such Holder as of the applicable record date against each of the following matters at any meeting of stockholders of the Company (or any adjournment or postponement thereof),
or in any other circumstance upon which a vote, consent or other approval (including a written consent) with respect to any of the following matters is sought: any action or agreement that is not recommended by the Company Board and that would
reasonably be expected to (A) result in a breach of any covenant, representation or warranty or any other obligation or agreement of the Company under the Merger Agreement, (B) result in any of the conditions to the consummation of the
Merger under the Merger Agreement not being fulfilled or (C) materially impede, frustrate, interfere with, delay or postpone the Merger and the other transactions contemplated by the Merger Agreement. 

Section 1.2 Further Assurances. Each Holder shall, from time to time, execute and deliver, or cause to be executed and delivered,
such additional or further consents, documents and other instruments as the Company may reasonably request to the extent necessary to effectively carry out the transactions contemplated by this Agreement. 

Section 1.3 Transfers. Each Holder agrees that until the termination of this Agreement, such Holder shall not, except as
contemplated by this Section 1.3, sell, transfer, pledge, assign, encumber, hypothecate or otherwise dispose of (including by gift) (collectively, “Transfer”), or enter into any Contract or option or other arrangement
(including any profit sharing arrangement) with respect to the Transfer of, any Subject Shares to any Person other than pursuant to the Merger. Notwithstanding the foregoing, the Holders may Transfer, subject to the terms of the Stockholders
Agreement, any Subject Shares to any other Holder or to any of their respective Affiliates, Parent or Merger Sub; provided that the effectiveness of any such Transfers shall be conditioned on the transferee agreeing in writing to be bound by
the provisions of this Agreement and the Stockholder Agreement in a form reasonably satisfactory to the Company; provided, further, notwithstanding such Transfer, the transferor shall remain liable hereunder as though still a party
hereto. 
 Section 1.4 Voting Arrangements. Except for this Agreement and the Stockholders Agreement, each Holder shall not
enter into any voting arrangement, whether by proxy, voting agreement or otherwise, with respect to its Subject Shares (other than solely among the Affiliates who are bound to this Agreement with respect to the applicable Subject Shares) and shall
not commit or agree to take any of the foregoing actions. 
 Section 1.5 Representations of Each Holder. Each Holder hereby
represents and warrants to the Company, severally and not jointly, with respect to such Holder and such Holder’s ownership of the Subject Shares as follows: 

(a) Authority. Such Holder is a limited liability company duly organized, validly existing and in good standing under the Laws of
Delaware and has all requisite limited liability company power and authority necessary to execute and deliver this Agreement, to comply with and perform its respective obligations hereunder and to consummate the transactions contemplated hereby. The
execution and delivery of this Agreement by such Holder or its compliance with and performance of this Agreement, and the consummation by such Holder of the transactions contemplated hereby, has been duly authorized and approved by all necessary
action by such Holder (including by the board of directors or applicable corporate 

  
 -2- 

 
bodies), and no other limited liability company action on the part of such Holder is necessary to authorize the execution and delivery of and performance by such Holder under this Agreement. This
Agreement has been duly executed and delivered by such Holder and, assuming due authorization, execution and delivery hereof by the Company, constitutes a legal, valid and binding obligation of such Holder, enforceable against it in accordance with
its terms, except that such enforceability may be subject to a Bankruptcy and Equity Exception. Other than as provided in the Merger Agreement with respect to the Transactions and any filings by such Holder with the SEC, the execution, delivery and
performance by such Holder of this Agreement does not require any consent of or Permit from any Governmental Authority, other than any consent or Permit the failure of which to make or obtain would not, individually or in the aggregate, be
reasonably expected to prevent or materially delay the consummation of the Merger or such Holder’s ability to observe or perform its obligations hereunder. 

(b) Noncontravention. Neither the execution and delivery of this Agreement by such Holder nor the consummation by such Holder of the
transactions contemplated hereby, nor the performance of or compliance with any of the terms or provisions hereof by such Holder, will conflict with, result in a breach of, constitute a default (with or without notice or lapse of time or both) under
or violate (i) any provision of any Contract, Permit, Order or Law applicable to such Holder or (ii) conflict with or violate any provision of the certificate of formation and operating agreement of such Holder, in the case of clause
(i) except as would not, individually or in the aggregate, be reasonably expected to prevent or materially delay the consummation of the Merger or such Holder’s ability to observe or perform its obligations hereunder. 

(c) The Subject Shares. As of the date of this Agreement, such Holder owns beneficially and of record the Subject Shares set forth
opposite such Holder’s name on Schedule I hereto, free and clear of any and all Liens and free of any restriction on the right to vote, sell or otherwise dispose of such Subject Shares, other than any of the foregoing that would not
prevent or materially delay such Holder’s ability to perform or comply with its obligations hereunder. As of the date of this Agreement, such Holder does not own, of record or beneficially, any shares of capital stock of the Company other than
the Subject Shares set forth opposite such Holder’s name on Schedule I hereto (except that such Holder may be deemed to beneficially own Subject Shares owned by other Holders). Such Holder has, or will have at the time of the applicable
meeting of stockholders of the Company, the right to vote or direct the vote of its Subject Shares and none of such Subject Shares is subject to any Contracts with respect to the voting thereof that would prevent or materially delay such
Holder’s ability to perform its obligations hereunder. There are no Contracts of any kind, contingent or otherwise, obligating such Holder to Transfer, or cause to be Transferred, any of the Subject Shares set forth opposite such Holder’s
name on Schedule I hereto (other than a Transfer from one Holder to another Holder) and no Person has any contractual or other right or obligation to purchase or otherwise acquire any of such Subject Shares. 

(d) Reliance by the Company. Such Holder understands and acknowledges that the Company is entering into the Merger Agreement in
reliance upon such Holder’s execution and delivery of this Agreement. 
 (e) Legal Proceedings. As of the date of this
Agreement, there are no Proceedings pending or, to the knowledge of such Holder, threatened against such Holder that questions the validity of this Agreement or any action taken or to be taken by such Holder in connection with this Agreement. 

  
 -3- 

 (f) Finders Fees. Except for Goldman, Sachs & Co. and RBC Capital Markets, no
broker, investment bank, financial advisor or other Person is entitled to any broker’s, finder’s, financial adviser’s or similar fee or commission in connection with the transactions contemplated hereby based upon arrangements made by
or on behalf of such Holder. 
 Section 1.6 Representations and Warranties of the Company. The Company represents and warrants
to the Holders as follows: (i) the Company is a corporation duly incorporated, validly existing and in good standing under the Laws of the State of Delaware and has all necessary corporate power and authority to execute and deliver this
Agreement and to comply with and perform its obligations hereunder and to consummate the transactions contemplated hereby; (ii) the execution and delivery of this Agreement by the Company and the consummation of the transactions contemplated
hereby, have been duly authorized and approved by the Company Board, and no other corporate action on the part of the Company is necessary to authorize the execution and delivery of and performance by the Company under this Agreement and the
consummation by it of the transactions contemplated hereby; (iii) this Agreement has been duly executed and delivered by the Company and, assuming due authorization, execution and delivery hereof by the other parties hereto, constitutes a
legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except that such enforceability may be subject to a Bankruptcy and Equity Exception; (iv) other than as provided in the Merger
Agreement with respect to the Transactions and any filings by the Company with the SEC, the execution, delivery and performance by the Company of this Agreement does not require any consent of or Permit from any Governmental Authority, other than
any consent or Permit the failure of which to make or obtain would not, individually or in the aggregate, be reasonably expected to prevent or materially delay the consummation of the Merger or the Company’s ability to observe or perform its
obligations hereunder; and (v) other than as provided in the Merger Agreement, neither the execution and delivery of this Agreement by the Company nor the consummation by the Company of the transactions contemplated hereby, nor the performance
of or compliance with any of the terms or provisions hereof by the Company, will conflict with, result in a breach of, constitute a default (with or without notice or lapse of time or both) under or violate any provision of any Contract, Permit,
Order or Law applicable to the Company or any of its Subsidiaries or conflict with or violate any provision of the certificate of incorporation and bylaws of the Company, in each case except as would not, individually or in the aggregate, be
reasonably expected to prevent or delay the consummation of the Merger or the Company’s ability to observe or perform its obligations hereunder. 

Section 1.7 Additional Acknowledgements. Each of the Company and each Holder expressly acknowledges and agrees that
(a) Section 4.12 (with respect to each Holder rather than Parent and Merger Sub) and Section 3.23 of the Merger Agreement are incorporated by reference herein, mutatis mutandis and (b) each Holder is entering into this
Agreement solely in such Holder’s capacity as the record holder or beneficial owner of Subject Shares and in no other capacity whatsoever. 

  
 -4- 

 ARTICLE II 

MISCELLANEOUS 

Section 2.1 Notices. All notices, requests, claims, demands and other communications under this Agreement to any party hereunder
shall be in writing and shall be deemed given if delivered personally, facsimiled (which is confirmed), sent by overnight courier (providing proof of delivery), sent by registered or certified mail (postage prepaid, return receipt requested) or sent
by electronic mail to the respective parties at the following addresses: 
 if to the Holders, to: 

Riverstone Holdings LLC 
 712
Fifth Avenue, 36th Floor 
 New York, New York 10019 

Attention:             General Counsel 

Facsimile:            (212) 271-2928 

Email:                  scoats@riverstonellc.com 

with a copy (which shall not constitute notice) to: 

Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 
 New York,
New York 10019 
 Attention:             Igor Kirman 

 Edward J. Lee 

Facsimile:            (212) 403-2000 

Email(s):              IKirman@WLRK.com 

 EJLee@WLRK.com 

and 
 Vinson & Elkins LLP

 1001 Fannin Street, Suite 2500 

Houston, Texas 77002 
 Attention:
            Trina Chandler 

Facsimile:            (713) 615-5088 

Email:                  tchandler@velaw.com 

if to the Company, to: 
 Talen
Energy Corporation 
 853 Hamilton Street, Suite 150 

Allentown, Pennsylvania 18101 

Attention:             General Counsel 

Facsimile:            (610) 774-2755 

Email(s):              paul.breme@talenenergy.com 

 thomas.douglass@talenenergy.com 

  
 -5- 

 with a copy (which shall not constitute notice) to: 

Kirkland & Ellis LLP 

601 Lexington Avenue 
 New York,
New York 10022 
 Attention:             Andrew Calder 

 Sarkis Jebejian, P.C. 

 David Beller 

Facsimile:            (212) 446-4900 

Emails:                 andrew.calder@kirkland.com 

 sarkis.jebejian@kirkland.com 

 david.beller@kirkland.com 

or such other address, facsimile number or electronic mail address as such party may hereafter specify by like notice to the other parties hereto. All such
notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is a Business Day in the place of receipt. Otherwise, any such
notice, request or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt. 

Section 2.2 Governing Law and Jurisdiction. 

(a) Each party irrevocably consents to the service of process outside the territorial jurisdiction of the courts referred to in this
Section 2.2 in any such action or proceeding by mailing copies thereof by registered or certified United States mail, postage prepaid, return receipt requested, to its address as specified in or pursuant to this Article II. However, the
foregoing shall not limit the right of a party to effect service of process on the other party by any other legally available method. 
 (b)
This Agreement will be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would
cause the application of the laws of any jurisdiction other than the State of Delaware. In addition, each of the parties hereto irrevocably agrees that any legal action or proceeding with respect to this Agreement and the rights and obligations
arising hereunder, or for recognition and enforcement of any judgment in respect of this Agreement and the rights and obligations arising hereunder brought by the other party hereto or its successors or assigns, will be brought and determined
exclusively in the Delaware Court of Chancery and any state appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any state or federal court within the
State of Delaware). Each of the parties hereto hereby irrevocably submits with regard to any such action or proceeding for itself and in respect of its property, generally and unconditionally, to the personal jurisdiction of the aforesaid courts and
agrees that it will not bring any action relating to this Agreement or any of the transactions contemplated hereunder in any court other than the aforesaid courts. Each of the parties hereto by this Agreement irrevocably waives, and agrees not to
assert, by way of motion, as a defense, counterclaim or otherwise, in any action or proceeding with respect to this Agreement, (i) any claim that it is not personally subject to the jurisdiction of the above-named courts for any reason

  
 -6- 

 
other than the failure to serve in accordance with Section 2.2(a), (ii) any claim that it or its property is exempt or immune from jurisdiction of any such court or from any legal
process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (iii) to the fullest extent permitted by the applicable Law,
any claim that (x) the suit, action or proceeding in such court is brought in an inconvenient forum, (y) the venue of such suit, action or proceeding is improper or (z) this Agreement, or the subject matter hereof, may not be enforced
in or by such courts. 
 Section 2.3 Severability. If any term or other provision of this Agreement is determined by a court of
competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other terms, provisions and conditions of this Agreement shall nevertheless remain in full force and effect. Upon such
determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible to
the fullest extent permitted by applicable Law in an acceptable manner to the end that the transactions contemplated hereunder are fulfilled to the extent possible. 

Section 2.4 Excess Parent Liability. 

(a) If and solely to the extent that, pursuant to the terms and conditions of the Merger Agreement, subject to any limitations contained
therein (including Section 7.3) and in the Guarantee, Parent’s aggregate payment obligation to the Company for (x) Parent Expense Reimbursement Obligations (for clarity, not to exceed $10,000,000), if any, if and when payable pursuant
to the terms of the Merger Agreement, plus (y) Parent Collection Expense Obligations (for clarity, not to exceed $10,000,000), if any, if and when payable pursuant to the terms of the Merger Agreement, plus (z) the Parent
Termination Fee (for clarity, not to exceed $85,000,000), if any, if and when payable pursuant to the terms of the Merger Agreement, exceeds $90,000,000, the Company shall be entitled to seek payment from the Holders, severally and not jointly, in
an aggregate amount equal to the excess, if any, of (i) the sum of clauses (x) through (z) over (ii) $90,000,000 (the “Excess Payment Amount”) (it being understood that any payment by any such Holder of
any amount of the Excess Payment Amount hereunder shall be in full satisfaction of any obligation of Parent or any other Person with respect to such amount under the Merger Agreement, Guarantee or otherwise). Notwithstanding anything to the contrary
contained herein, the Excess Payment Amount shall not, in the aggregate, exceed $15,000,000; provided, further, that each Holder’s several (and not joint) maximum liability, if any, under this Section 2.4(a) shall in all
cases be limited to compensatory damages (irrespective of the form of the claim or action, whether in contract, tort or otherwise) not in excess of such Holder’s Pro Rata Portion of the Excess Payment Amount (if any). For purposes of this
Agreement, “Pro Rata Portion” means, for each Holder, the percentage set forth opposite such Holder’s name on Schedule II hereto. To the extent Parent or Merger Sub is relieved of its applicable obligations under the
Merger Agreement, the Holders shall likewise be relieved of their applicable obligations hereunder, and the Holders shall be entitled to the benefit of any defenses, limitations, caps or disclaimers of damages that may be available to Parent or
Merger Sub under the Merger Agreement. 

  
 -7- 

 (b) Notwithstanding anything to the contrary, each Holder’s Pro Rata Portion of the Excess
Payment Amount, if and to the extent payable pursuant to Section 2.4(a), shall be the sole and exclusive liability imposed on each such Holder in connection with any liability of Parent or of any other Person arising out of or related to the
Merger Agreement, the Guarantee, this Agreement (other than as expressly set forth herein), the Confidentiality Agreement or the Debt Commitment Letter and/or any of the transactions contemplated thereby, and in no event shall the Company, its
Affiliates, their respective stockholders or Representatives or any other Person seek, directly or indirectly, to recover against any of the Holders, or compel any payment by any of the Holders of, any damages or other payments whatsoever that are,
in aggregate, in excess of each such Holder’s Pro Rata Portion of the Excess Payment Amount, if any. Without limiting any other limitations of liability for the benefit of the Holders under this Agreement, the Merger Agreement or the Guarantee,
Sections 4(b), 9 and 10 of the Guarantee are hereby expressly incorporated by reference, mutatis mutandis. 
 Section 2.5
Remedies. Subject to this Section 2.5 and the terms of the Merger Agreement, any and all remedies herein expressly conferred upon a party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or
equity upon such party, and the exercise by a party of any one remedy will not preclude the exercise of any other remedy. The parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed in
accordance with the terms hereof and that, unless this Agreement has been validly terminated in accordance its terms, the parties hereto shall be entitled to an injunction or injunctions to prevent breaches of this Agreement or to enforce
specifically the performance of the terms and provisions hereof in any of the courts referred to in Section 2.2(b), in addition to any other remedy to which they are entitled at law or in equity, in each case subject to the terms of the Merger
Agreement (including Sections 7.2, 7.3 and 8.9 thereof). Subject to this Section 2.5, each party hereby agrees not to raise any objections to the availability of the equitable remedy of specific performance to prevent or restrain breaches of
this Agreement by such party, and to specifically enforce the terms and provisions of this Agreement to prevent breaches of, or to enforce compliance with, the covenants and obligations of such party under this Agreement. Any party seeking an
injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement shall not be required to provide any bond or other security in connection with any such order or injunction. The
parties hereto further agree that by seeking the remedies provided for in this Section 2.5, a party shall not in any respect waive its right to seek any other form of relief that may be available to a party under this Agreement (including,
subject to the limitations hereof and in the Merger Agreement, monetary damages) in the event that the remedies provided for in this Section 2.5 are not available or otherwise are not granted. 

Section 2.6 WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING BETWEEN THE PARTIES HERETO ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREUNDER. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE EVENT OF ANY PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE 

  
 -8- 

 
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 2.6. 

Section 2.7 Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in
whole or in part, by operation of Law or otherwise, by any of the parties without the prior written consent of the other parties; provided, that a Holder may, without the prior written consent of the Company, assign any or all of its rights
and obligations under this Agreement to one or more of its Affiliates pursuant to a Transfer permitted by Section 1.3; provided, further, that any assignment pursuant to the foregoing clause shall not limit or affect such
Holder’s obligations under this Agreement as a primary obligor. This Agreement shall be binding upon, inure to the benefit of, and be enforceable by, the parties hereto and their respective successors and permitted assigns. Any purported
assignment not permitted under this Section 2.7 shall be null and void. 
 Section 2.8 Counterparts; Section Headings. This
Agreement may be executed in counterparts (each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement) and shall become effective when one or more counterparts have been signed by each
of the parties and delivered (by electronic communication, facsimile or otherwise) to the other parties. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic image scan transmission shall be
effective as delivery of a manually executed counterpart of this Agreement. The article and section headings of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

Section 2.9 Entire Agreement. This Agreement (subject to the terms and conditions of the Merger Agreement) constitutes the entire
agreement between the parties hereto with respect to the subject matter hereof, and is binding solely on, and inures solely to the benefit of, the parties hereto and their respective successors and permitted assigns, and nothing set forth in this
Agreement shall be construed to confer upon or give to any Person other than the Company, Parent, Merger Sub, Guarantor and each Guarantor Non-Recourse Party (as defined in the Guarantee), and their respective successors and permitted assigns, any
rights or remedies under or by reason of this Agreement or to confer upon or give to any Person any rights or remedies against any Person other than the Holders under or by reason of this Agreement. 

Section 2.10 Amendments. This Agreement may not be amended except by an instrument in writing signed by the parties hereto. No
provision of this Agreement may be waived, discharged or terminated other than by an instrument in writing signed by the party against whom the enforcement of such waiver, discharge or termination is sought. 

Section 2.11 Termination of Agreement. Except for Section 2.4 (which shall terminate automatically upon termination of the
Guarantee), this Agreement shall be automatically terminated without further action upon the earliest to occur of (A) the Effective Time, (B) the termination of the Merger Agreement in accordance with its terms, (C) a Company Adverse
Recommendation Change and (D) the written agreement of the Holders and the Company to terminate this Agreement. 

  
 -9- 

 [The remainder of this page is intentionally left blank] 

  
 -10- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
written above. 
  

			
	Talen Energy Corporation
		
	By:	 	 /s/ Paul A. Farr

	Name:	 	Paul A. Farr
	Title:	 	President and Chief Executive Officer

 [Signature Page to Support Agreement] 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
written above. 
  

			
	Raven Power Holdings LLC
		
	By:	 	 /s/ Carl L. Williams

	Name:	 	Carl L. Williams
	Title:	 	Authorized Person
	
	C/R Energy Jade, LLC
		
	By:	 	 /s/ Carl L. Williams

	Name:	 	Carl L. Williams
	Title:	 	Authorized Person
	
	Sapphire Power Holdings LLC
		
	By:	 	 /s/ Carl L. Williams

	Name:	 	Carl L. Williams
	Title:	 	Authorized Person

 [Signature Page to Support Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}]]