PPL's strategy includes strengthening reliability of electric and gas networks and advancing a cleaner energy future. This involves modernizing generation and supporting low-carbon solutions.

The Transition Services Agreement with National Grid for the acquired Rhode Island Energy was completed. This marks a step in integrating the acquired business.

LG&E and KU are constructing Mill Creek Unit 5, a natural gas combined cycle facility. This expansion of generating capacity is a strategic move to modernize their generation fleet.

PPL is committed to fostering an exceptional workplace, focusing on professional development, employee engagement, and safety. This indicates a focus on human capital management.

PPL is focused on driving operational efficiencies to improve customer service and help keep energy affordable. This suggests a commitment to improving the cost structure and operational performance.

The Corporate Compliance Committee, including senior executives, meets quarterly to discuss metrics and other matters related to the compliance and ethics culture. Among the items discussed are statistics regarding Ethics Helpline reports and employee concerns. This information is also reviewed with the Audit Committee of the Board quarterly and with the Board annually.

The company acknowledges that its profitability depends on the ability to recover costs and earn a return on capital investments, and regulators may not approve requested rates. This highlights the ongoing risk associated with regulatory proceedings.

The company faces financial, operational, and regulatory risks related to environmental regulations, particularly those affecting coal-fired generation facilities. This underscores the potential for increased costs and operational constraints due to environmental compliance.

The company acknowledges that its business operations are subject to cyber-based security and data integrity risks from vulnerabilities related to IT systems, operational technology infrastructure and supply chain relationships. This highlights the potential for operational disruptions and financial losses due to cyberattacks.

The PPL Electric transmission business is subject to competition pursuant to FERC Order 1000 from entities that are not incumbent PJM transmission owners with respect to the construction and ownership of transmission facilities within PJM. Increased competition can result in lower rate base growth.

There are currently no other electric or gas public utilities operating within the service area of RIE.

There are currently no other electric public utilities operating within the electric service areas of LG&E and KU.

The company continually focuses on limiting and reducing its operation and maintenance expenses.

Smart metering technology has the potential to strengthen network reliability.

Potential supply chain disruptions or delays.

Artificial intelligence (AI) is an emerging area of technology that has the potential to impact various aspects of our business operations and customer interactions.

Development, adoption and use of artificial intelligence by us, our customers and our third party vendors.

To leverage potential benefits of AI, PPL management has established an AI Governance committee, with oversight from the Chief Technology and Innovation Officer and the Chief Legal Officer, which assesses benefits and risks associated with AI.

Capital expenditures are primarily directed towards regulated utility operations in Pennsylvania, Kentucky, and Rhode Island, indicating a focus on regulated asset growth.

Significant investments in transmission and distribution infrastructure projects, such as projects for environmental compliance and system reliability, are planned.

There were no purchases by PPL of its common stock during the fourth quarter of 2024.

PPL has adopted a goal of net-zero carbon emissions by 2050, which PPL expects will include continuing to retire coal-fired generation and investing in research and innovation that will help to achieve this goal, while maintaining reliable and affordable energy in our service territories.

PPL reduced carbon emissions nearly 60% from 2010 levels and is targeting a 70% reduction from 2010 levels by 2035 and an 80% reduction by 2040.

PPL is also aware of the various risks associated with climate change, including increased frequency and severity of severe weather.

The demand for and market prices of electricity and natural gas are affected by weather.

Economic downturns or periods of high energy supply costs can lead to changes in or the development of legislative and regulatory policy designed to promote reductions in energy consumption and increased energy efficiency, alternative and renewable energy.

A pandemic health event and related remediation efforts could present challenges to businesses, communities, workforces, markets and supply chains.