Dominion Energy is one of the nation's largest producers and distributors of energy, committed to providing reliable, affordable, and increasingly clean energy. The company's core business model focuses on regulated electric utilities and long-term contracted businesses, primarily in the eastern region of the U.S. Dominion Energy operates in 15 states and serves approximately 7 million customers. The company is in the final stages of a comprehensive business review, focusing on expanding and improving its regulated electric utilities and long-term contracted businesses while transitioning to a cleaner energy future. Key markets include Virginia and North Carolina, with a growing presence in renewable energy. Dominion Energy's competitive advantages stem from its large-scale, regulated operations and its ability to leverage long-term contracts.

• Employees: 17,700 (as of December 31, 2023)
• Geographic Footprint: 15 states
• Headquarters: Richmond, Virginia
• Founded: 1983
• Number of locations/facilities: Approximately 29.5 GW of electric generating capacity, 10,600 miles of electric transmission lines, 79,300 miles of electric distribution lines and 94,800 miles of gas distribution mains and related service facilities, which are supported by 4,000 miles of gas transmission, gathering and storage pipeline.
• Revenue: $14.4 billion (FY2023)
• Market Capitalization: $43.3 billion (based on the closing price of Dominion Energy, Inc.'s common stock as reported on the New York Stock Exchange as of the last day of Dominion Energy, Inc.'s most recently completed second fiscal quarter)
• Key Subsidiaries/Brands: Dominion Energy Virginia, Dominion Energy South Carolina

• CEO: Robert M. Blue
• CFO: Steven D. Ridge
• COO: Diane Leopold
• Board Chair: Robert M. Blue

Robert M. Blue has served as Chair of the Board of Directors since April 2021 and President and CEO since October 2020. Steven D. Ridge has served as Executive Vice President and CFO since January 2024. Diane Leopold has served as Executive Vice President, COO and President-Contracted Energy since August 2023.

• Annual Revenue: $14.4 billion (FY2023)
• Net Income: $1.99 billion (FY2023)
• Market Cap: $43.3 billion (as of the last day of Dominion Energy, Inc.'s most recently completed second fiscal quarter)
• Total Assets: $109.0 billion (as of December 31, 2023)
• Employees: 17,700 (as of December 31, 2023)
• Key Financial Highlights: Net income attributable to Dominion Energy increased 51% year-over-year, primarily due to the absences of a charge associated with the impairment of certain nonregulated solar generation facilities, a loss associated with the sale of Kewaunee, a charge for RGGI compliance costs deemed recovered through base rates and a charge in connection with a comprehensive settlement agreement for Virginia fuel expenses.

Dominion Energy provides a range of products and services, including:

• Electricity Generation: Dominion Energy generates electricity through a diverse portfolio of sources, including natural gas, nuclear, coal, solar, wind, biomass and hydro. The company focuses on expanding renewable generation facilities.
• Electric Transmission: Dominion Energy operates a vast network of electric transmission lines, facilitating the delivery of electricity across its service areas.
• Electric Distribution: The company distributes electricity to approximately 7 million customers through its extensive distribution network.
• Natural Gas Distribution: Dominion Energy distributes natural gas to residential, commercial and industrial customers in several states.
• Natural Gas Transmission, Gathering and Storage: The company owns and operates a network of natural gas transmission, gathering and storage pipelines and related facilities.

Dominion Energy manages its daily operations through three primary operating segments:

• Dominion Energy Virginia: This segment includes Virginia Power's regulated electric transmission, distribution and generation operations, serving approximately 2.8 million customers in Virginia and North Carolina.
• Dominion Energy South Carolina: This segment includes DESC's generation, transmission and distribution of electricity to approximately 0.8 million customers and the distribution of natural gas to approximately 0.4 million customers in South Carolina.
• Contracted Energy: This segment includes the operations of Millstone, and associated energy marketing and price risk activities, and Dominion Energy's nonregulated long-term contracted renewable electric generation fleet.

Dominion Energy also reports a Corporate and Other segment, which includes its corporate, service companies and other functions as well as Dominion Energy's noncontrolling interest in Dominion Privatization. Corporate and Other includes specific items attributable to Dominion Energy's operating segments that are not included in profit measures evaluated by executive management in assessing the operating segments' performance or in allocating resources. In addition, Corporate and Other includes the net impact of discontinued operations consisting primarily of the operations included in the East Ohio, PSNC and Questar Gas Transactions and Dominion Energy's equity investment in Atlantic Coast Pipeline.

Dominion Energy's business strategy is focused on providing reliable, affordable and increasingly clean energy. Key strategic initiatives include:

• Expanding and improving regulated electric utilities and long-term contracted businesses.
• Transitioning to a cleaner energy future by investing in renewable generation facilities, strategic undergrounding and energy conservation programs.
• Upgrading electric transmission and distribution networks.
• Meeting environmental requirements and standards set by various regulatory bodies.
• Pursuing license extensions for its regulated nuclear power stations.
• Divesting non-core assets, including regulated gas distribution operations.

Dominion Energy aims to achieve net-zero carbon emissions by 2050. The company is also focused on innovation and energy infrastructure modernization, including large-scale battery storage, hydrogen and advanced nuclear technology. Dominion Energy is committed to increasing its diverse workforce representation to 40% by year-end 2026.

Dominion Energy operates in the energy industry, primarily focusing on regulated electric and gas utilities. Key market trends affecting the business include:

• Increasing demand for electricity, driven by data centers and other factors.
• Transitioning to cleaner energy sources and renewable generation.
• Emphasis on grid modernization and reliability.
• Stringent environmental regulations and standards.

Major competitors include other large energy companies, particularly those operating in the eastern U.S. The company's market position is strong in its regulated utility territories. Market share information is not explicitly provided in the 10-K.

• Regulatory Risks: Changes in regulations, rate structures, and environmental laws could adversely affect Dominion Energy's ability to recover costs and earn a reasonable return.
• Operational Risks: The company's operations are subject to various risks, including equipment failures, supply chain disruptions, and severe weather events, which could disrupt operations and increase costs.
• Construction Risks: The development and construction of large-scale infrastructure projects, such as the CVOW Commercial Project, involve significant risks, including delays, cost increases and regulatory hurdles.
• Market Risks: Fluctuations in commodity prices, interest rates and market demand could negatively impact the company's financial performance.
• Cybersecurity Risks: The company is subject to the risk of cyber intrusions, which could impair operations, lead to disclosure of confidential information and damage its reputation.