Southern Power seeks opportunities to execute its strategy to create value through various transactions including acquisitions, dispositions, and sales of partnership interests, development and construction of new generating facilities, and entry into PPAs.

Southern Company Gas continues to invest in infrastructure improvement programs for certain natural gas distribution utilities that have been previously approved by their applicable state regulatory agencies.

Management of the traditional electric operating companies is working with applicable regulators through their IRP processes to continue the generating fleet transition in a manner responsible to customers, communities, employees, and other stakeholders.

Georgia Power placed Plant Vogtle Unit 3 in service on July 31, 2023 and continues construction on Plant Vogtle Unit 4.

Challenges remain for Plant Vogtle Unit 4 start-up, including a motor fault in one of four reactor coolant pumps and vibrations associated with certain piping within the cooling system. Unit 4 is projected to be placed in service during the second quarter 2024.

The Southern Company system had zero fatalities and a serious injury rate of 0.06 in 2023, which represents the number of incidents per 100 employees. Safety programs include continuous process improvements to prevent serious injuries, promote learning, and implement appropriate corrective actions.

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 and regulations, pose risks to the company.

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 could impact operations.

Supply chain disruptions and inflation could negatively impact operations, including the ability to control costs and avoid cost and schedule overruns during the development, construction, and operation of facilities or other projects.

The electric utility industry in the U.S. is continuing to evolve as a result of regulatory and competitive factors and competition for retail energy sales among competing suppliers of energy is influenced by various factors, including price, availability, technological advancements, service, and reliability.

Southern Power competes with investor-owned utilities, IPPs, and others for wholesale energy sales across various U.S. utility markets. The needs of these markets are driven by the demands of end users and the generation available.

Southern Company Gas' natural gas distribution utilities do not compete with other distributors of natural gas in their exclusive franchise territories but face competition from other energy products.

The company emphasizes the ability to control costs and avoid cost and schedule overruns during the development, construction, and operation of facilities or other projects.

Supply chain disruptions and shortages could impact the ability to control costs and avoid cost overruns during the development, construction, and operation of facilities or other projects.

The company emphasizes operational readiness, including specialized operator training and required site safety programs.

The company is focused on 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.

Southern Linc provides digital wireless communications for use by Southern Company and its subsidiary companies and also markets these services to the public and provides fiber optics services through its subsidiary, Southern Telecom, Inc.

PowerSecure develops distributed energy and resilience solutions and deploys microgrids for commercial, industrial, governmental, and utility customers.

The subsidiary companies of Southern Company are engaged in continuous construction programs, including capital expenditures to accommodate existing and estimated future loads on their respective systems and to comply with environmental laws and regulations, as applicable.

The company continues to invest in new generating facilities, expanding and improving the electric transmission and electric and natural gas distribution systems, and undertaking projects to comply with environmental laws and regulations.

The company has financing programs in place to meet capital needs, including accessing borrowings from financial institutions and issuing debt and hybrid securities in the capital markets.

Southern Company has established an intermediate goal of a 50% reduction in GHG emissions from 2007 levels by 2030 and a long-term goal of net zero GHG emissions by 2050.

Southern Company system management values a diverse, equitable, and inclusive workforce. The company's subsidiaries have policies, programs, and processes to help ensure that all groups are represented, included, and fairly treated across all job levels.

Southern Company system management believes the safety of employees and customers is paramount and seeks to meet or exceed applicable laws and regulations while continually improving its safety technologies and processes.

The electric utility industry in the U.S. is continuing to evolve as a result of regulatory and competitive factors.

Natural gas remains a volatile commodity. Slight supply and demand imbalances can quickly result in significant price moves both up and down. Forward curves project prices will remain in the range of mid-to high- $3 per mmBtu, approaching $4 per mmBtu, through 2030.

The demand for electric power and natural gas supply is affected by seasonal differences in the weather. The overall operating results of the Registrants in the future may fluctuate substantially on a seasonal basis.