OCTOBER 4, 2022 Energy Transition Update

// 2 Safe Harbor statement This presentation includes forward-looking statements within the meaning of the federal securities laws. Actual results could differ materially from such forward-looking statements. The factors that could cause actual results to differ are discussed herein and in Duke Energy’s SEC filings, available at www.sec.gov .Regulation G disclosure In addition, today's discussion includes certain non-GAAP financial measures as defined under SEC Regulation G. A reconciliation of those measures to the most directly comparable GAAP measures is available in the Appendix herein and on our Investor Relations website at www.duke-energy.com/investors/

// 3 Safe harbor statementThis document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management’s beliefs and assumptions and can often be identified by terms and phrases that include “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,” “target,” “guidance,” “outlook” or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: The impact of the COVID-19 pandemic; State, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements relatedto coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; The ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations, asset retirement and construction costs related to carbon emissions reductions, and costs related to significantweather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process; The costs of decommissioning nuclear facilities could prove to be moreextensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; Costs and effects of legal and administrative proceedings, settlements, investigations and claims; Industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy, reduced customer usage due to cost pressures from inflation or fuel costs, and the economic health of our service territories or variations in customer usage patterns, including energy efficiency efforts, natural gas building and appliance electrification, and use of alternative energy sources, such as self-generation and distributed generation technologies; Federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures, natural gas electrification, and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in a reduced number of customers, excess generation resources as well as stranded costs; Advancements in technology; Additional competition in electric and natural gas markets and continued industry consolidation; The influence of weather and other natural phenomena on operations,including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; Changing investor, customer, and other stakeholder expectations and demands including heightened emphasis on environmental, social and governance concerns; The ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S.electric grid or generating resources; Operational interruptions to our natural gas distribution and transmission activities; The availability of adequate interstate pipeline transportation capacity and natural gas supply; The impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, operational accidents, information technology failures or other catastrophic events, such as fires, explosions, pandemic health events or other similar occurrences; The inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; The timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; The results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions, an individual utility's generation mix, and general market and economic conditions; Credit ratings of the Duke Energy Registrants may be different from what is expected; Declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds; Construction and development risks associated with the completion of the Duke Energy Registrants’ capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; The ability to control operation and maintenance costs; Thelevel of creditworthiness of counterparties to transactions; The ability to obtain adequate insurance at acceptable costs; Employee workforce factors, including the potential inability to attract and retain key personnel; The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent);The performance of projects undertakenbyour nonregulated businesses and the success of efforts to invest in and develop new opportunities; The effect of accounting pronouncements issued periodically by accountingstandard-setting bodies; Asset or business acquisitions and dispositions, including our ability to successfully consummate the second closing of the minority investment in Duke Energy Indiana or that the sale may not yield the anticipated benefits; The impact of U.S. tax legislation to our financial condition, results of operations or cash flows and our credit ratings; The impacts from potential impairments of goodwill or equity method investment carrying values; The actions of activist shareholders could disrupt our operations, impact our ability to execute on our business strategy, or cause fluctuations in the trading price of our common stock; and the ability to implement our business strategy, including its carbon emission reduction goals.Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at sec.gov. In light ofthese risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are madeand the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

// 4 Key MessagesOur pace of change is underscored by an unwavering commitment to customer affordability and reliabilityIntroducing two additional interim emission reduction targets on our path to net-zeroScope 1:80% by 2040(1)Scope 2&3:50% by 2035(2)Updating our 10-year capital plan: ~$145B of regulated capital investments (2023-2032)Incremental $10 billion vs. prior 10-year plan~85% targeted to fleet transition and grid modernizationPromoting economic growth through investments in our communitiesGuided by strong corporate governance(1)Off 2005 levels(2)Off2021 levels. Certain Scope 3 emissions include: upstream fossil fuel procurement, production of power purchased for resale,and downstream use of sold products in our natural gas LDCs

// 5 IntroductionJack SullivanSafety Moment and PerformanceJessica BednarcikStrategic VisionLynn GoodCapital Investments and AffordabilityBrian SavoyPath to Net-ZeroSwati DajiExceeding Customer ExpectationsHarry SiderisEmissions Reduction TransparencyKatherine Neebe and Sasha WeintraubStakeholder EngagementKodwo Ghartey-Tagoe and Katherine NeebeGovernance and OversightLynn Good and Ted CraverQ&AAllAgenda

Safety Momentand PerformanceJessica BednarcikSVP / Environmental, Health and Safety and Coal Combustion Products

// 7 00.20.4 0.60.811.21.41.6201320142015201620172018201920202021Total Incident Case Rate (TICR) Leading the industry in safety performance for the 7th consecutive year; nearly 42% lower than 2013No Level 1 REEs since 2017; nearly 97% reduction in Level 2 Leading the industry in safety and environmental performanceReportable Environmental Events (REEs) 0102030 405060 70 809020142015201620172018201920202021 New risk-based event definition implemented Level 2 REEs Duke Energy TICR(1) Industry Avg TICR(1)Natural Gas Business Unit added to enterprise ticker in 2017

Strategic VisionLynn GoodChair, President and Chief Executive Officer

// 9 Delivering affordable,reliable and increasingly clean energy for our customers –now and in the future.Ambition. Action. Results.

// 10 A responsible approach to pacing our energy transitionWe believe in a responsible approach to our energy transition –one that drives out carbon emissions while preserving affordability and reliability for the customers and communities we serve 24/7 ReliabilityEnergyTransitionStakeholder Support AffordabilityTechnologyAdvancements SupplyChain State & Federal Policy

Capital Investments and AffordabilityBrian SavoyExecutive Vice President and Chief Financial Officer

// 12 ~$145 BILLION OF REGULATED CAPITAL EXPENDITURES OVER THE NEXT 10 YEARS(1)… 2027E$86B 2032E$170B -$180B2021A…DRIVES ~7% EARNINGS BASE GROWTH ~$120 BILLION (~85% OF 10-YR PLAN) COMMITTED TO FLEET TRANSITION AND GRID MODERNIZATION Grid investments Regulatedzero-carbon generation Hydrogen capablenatural gas generation Other~$75B~$40B~$25B~$5BPERCENTAGE OF TOTAL CAPEX OVER 10 YEARS Cost-effective clean energy transition drives earnings base growth$56B 2023 –2027E2028 –2032E$63B -$66B$80B -$85B(1)Excludes Commercial Renewables capital$125B -$130B ~85% Fleet Transition and Grid ModernizationGas LDC~7%Gas Gen Maintenance, ~2%Coal Gen Maintenance, ~1%Corporate, IT & Cyber, ~3%Environmental Remediation, ~2%

// 13 Energy transition investments supported by modern recovery mechanisms90% of our electric capital investments are eligible for modern recovery mechanisms(1), mitigating regulatory lagIncludes recovery through riders, rate cases with forecasted test years, and multi-year rate plansMajority of wholesale contracts are recovered through formula rate contracts Multi-year rate plan~55%Rider~15%Forecasted rate case, ~5%Traditional rate making, ~10%Wholesale~15% (1)Based on 2022-2026 capital plan, subject to regulatory approval; per HB 951 certain North Carolina capital investments are not eligible for multi-year rate plan including large generation investments over $500 million

// 14 CONTINUED FOCUS ON NEAR-AND LONG-TERM COST MANAGEMENTLeveraging size and scale to combat inflationary pressuresMaking investments to harden the grid and prepare for extreme weather events, reducing restoration costsSelf-optimizing grid helped avoid nearly 1.2 million hours of total outage time in 2021Leveraging securitization to mitigate impact of early plant retirements and storm costs(1) LEVERAGING CLEAN ENERGY TAX PROVISIONSTax credits will provide for a more affordable transitionNuclear PTC: Our low-cost nuclear units are well-positioned to benefit –ultimate amount dependent on rulemaking in 2023Renewable PTC: PTC structure will lower cost to customers vs. current ITCsPromotes adoption of electric vehicles and EV infrastructure Customer affordability MAKING INVESTMENTS TO LOWER FUEL VOLATILITY AND COSTRecent fuel volatility is putting upward pressure on customer bills; our transition to renewables will reduce future fuel requirements, increasing rate stabilityLaunching Southeast Energy Exchange Market by year end, which will use advanced market systems to lower customer costs, optimize renewables and maintain reliabilityInvestments to improve efficiencies in natural gas generation (1)As approved per law in the applicable states

// 15 Projected economic impact of 10-year capital plan$145 billion(1) of capital investments over next 10 years $250 billionin U.S. economic output $1.5 billionAdditional annual labor income over 10 years20,000+Direct, indirect and induced additional averageannualjobs over 10 yearsOver $5billionIn associated propertytaxesover next 10 years–funding to support schools, community programs and emergency services, roads and infrastructure, etc. (1)Contingent upon regulatory approval

Path to Net-ZeroSwati DajiSenior Vice President, Enterprise Strategy and Planning

// 17 Road to Net-Zero Where we’ve been (2005 –2021)Where we’re going (2022 & beyond)44% CO2 reduction by2021(1) 7,500 MWcoal retired 6,000 MWregulatedrenewables(3) Out of coal(4)and30,000 MWregulated renewables(3) Net-zero methane for LDC (1)Off 2005 levels(2) Off2021 levels. Certain Scope 3 emissions include: upstream fossil fuel procurement, production of power purchased for resale, and downstream use of sold products in our natural gas LDCs 2030 On track to exceed 50%Scope 1 reduction target(1) 2035 New interim target 50%Scope 2 & 3 reduction(2) 2040 New interim target 80%Scope 1reduction(1) 2050 Affirming net-zeroScope 1,2,3 target (3) Includes utility-owned and purchase power agreements(4) Subject to regulatory approvals. Contemplates retiring Edwardsport coal gasifiers by 2035 or adding carbon capture utilization and storage to reduce carbon emissions

// 18 - 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,00020052021202520302035204020452050(1)Zero-emission load following resources (ZELFRs) include small modular reactors and turbines run-off of hydrogen or biofuelsDiverse generation mix is key to reliability and rate stability for customersEnterprise GWh Renewables: Builds to ~35% of total generation by 2040ZELFRs(1): Dispatchable zero-carbon resources; enables transition from natural gas Existing nuclear: Reliable zero-carbon baseload generation throughout Natural gas: Bridge fuel, enabling coal retirements over the next decadeCoal: Represented ~60% of generation in 2005; declining to ~5% by 2030

// 19 Emerging technologies will complement existing generation mixBad Creek pumped storage hydro stationHydrogen and biofuel capable gas turbinesCurrent and future gas plants will be equipped to run off alternatives like hydrogen or biofuelsFirst solar-to-hydrogen-fired turbine pilot in FloridaLong-durationenergy storageEvaluating potential for increased pumped storage capacityPiloting multiple battery storage technologies, such as flow batteriesNuclearSmall modular reactors (SMRs) operate similar tocurrent nuclear fleetPartnering with TerraPowerand GE Electric Hitachi on advanced reactor development

ExceedingCustomerExpectationsHarry Sideris Executive Vice President, Customer Experience, Solutions and Services

// 21 Transforming to exceed the evolving needs of our customers FUTURENet-zero carbon ReliableAffordable PAST Green grid Customer options & controlDistributed resources & emerging technologiesProducts, services & rate design Energy OrchestrationThe backbone of our clean and reliable energy future:Modernizethe gridwith smart technologyEnable electrification and the two-way flow of clean energyEmpower customers to save energy and moneyCustomer expectationsEnvironmentaltrendsDistributedtechnologiesThreats to gridinfrastructureImpacts of weather eventsConcentrated growthGrid advancements/data analytics PRESENT

// 22 Growing through electrification 2030 EV impact-Fast Facts1 million electric vehicles on the road in our service territoriesRepresents ~2% of total retail electric volumesDriving EPS contribution of ~$0.20Creating a suite of programs to support growing demandSimplifying adoption for our customers through innovative programsElectrifying 100% of our 4,000 light duty and 50% of our 3,000 medium and heavy-duty vehiclesConducting pilot programs to explore vehicle-to-grid integration(1)Off a 2022 baseline

// 23 Empowering our customers to manage their energy useAssisted customers to accessOVER $200 millionin energy assistance since 2021Partnerships with 1,900 agencies resulting innearly220,000agency funding pledges so far this year24 million MWhofcumulative energyefficiency by 2025 Armingcustomers with tools toconserve energy, reduce carbon, save money andaccess assistance Energy efficiency programsHome Energy ReportsResidential carbon calculatorCustomer assistance programs Top quartile J.D. Power U.S. Customer Service Index (1) (1)DE Carolinas, DE Progress, DE Florida and Piedmont

Emissions Reduction TransparencyKatherine NeebeVice President, National Engagement, Strategy, Chief Sustainability and Philanthropy OfficerSasha WeintraubSenior Vice President and President, Natural Gas Business

// 25 5%95%Breakdown of emissions included in and excluded from net-zero goals Emissions excluded fromnet-zero goal Emissions included in net- zero goal>95% of Duke Energy’s calculated Scope 1, 2 and 3 emissions fall into ourcurrently stated net-zero goal(1)Addressing Scope 2, 3 emissionsExit from coal(3)and less fossil fuel procurement over timeContinued decarbonization of generation across our jurisdictionsand among our peersUtilization of renewable natural gas in ourLDCsCustomer programs, such as energy efficiency programsand weatherizationStrategies to achieve50% reduction in Scope 2 & 3 by 2035(2) (1)Scope 1, 2 and 3 GHG numbers were derived based upon the best available measurements, methodologies and estimates; Scope 3, category 15 (investments) is not included.(2)Off2021 levels. Certain scope 3 emissions include: upstream fossil fuel procurement, production of power purchased for resale,and downstream use of sold products in our natural gas LDCs(3)Subject to regulatory approvals. Contemplates retiring Edwardsport coal gasifiers by 2035 or adding carbon capture utilization and storage to reduce carbon emissions

// 26 LDC emissions –our approach SCOPE 1 EMISSIONS STRATEGYEliminated cast iron and bare steel mains on our systemDeploying cross-compression technology and gas cloud imaging camerasIdentifying and fixing leaks using satellite, ground-level sensing and other technologies –a first for natural gas utilities SCOPE 3 EMISSIONS STRATEGYWork with the industry as a member of ONE Future to achieve an even greater impact across the natural gas supply chainDevelop customer emission offset programs and expand energy efficiency programsInvest in renewable natural gas projects to provide a renewable energy sourcefor customers

Stakeholder EngagementKodwo Ghartey-TagoeExecutive Vice President, Chief Legal Officer and Corporate Secretary Katherine NeebeVice President, National Engagement, Strategy, Chief Sustainability and Philanthropy Officer

// 28 Addressing social impacts through a just transitionSupport the workforceDrive economic developmentEngage ourcommunities/customers Enabling

Governance and OversightLynn GoodChair, President and Chief Executive OfficerTed CraverIndependent Lead Director

// 30 Key MessagesDuke Energy is leading the industry’s largest clean energy transitionOur pace of change is underscored by an unwavering commitment to customer affordability and reliabilityTwo additionalinterim emission reduction targets on our path to net-zero~$145B capital plan(1)supports ~7% earnings base CAGR through 2032 Promoting economic growth through investments in our communitiesGuided by strong corporate governance(1)Excludes Commercial Renewables capital

Appendix

// 32 Index TopicsSlides Duke Energy overview33 -36Ethics and compliance, disclosures37-38Governance and executive compensation39-42Human capital management43Enterprise security44Supply chain45-46Sustainable financing framework47Customer satisfaction48Grid, electric vehicles, and renewables49-52Climate goals and Scope 1, 2, and 3 emissions53-55Carbon reduction forecast and carbon intensity56-58Just transition principles59Coal retirements and coal earnings base60-62Jurisdictional updates63-66Enterprise generating capacity forecast67Gas LDC emission reduction strategies 68Awards, ratings, and rankings69-70

// 33 Duke Energy –a large-scale, highly regulated energy infrastructure companyOperating in six constructive jurisdictions, with attractive allowed ROEs, serving 8.2 million retail customersCustomer rates below the national average(1)Balanced generation portfolio that has reduced its Scope 1 carbon emissions by 44% since 2005(2)Industry-leading safety performance, as recognized by EEICurrently under strategic reviewApproximately 5 GWs of wind and solar in operationLong-term Power Purchase Agreements with creditworthy counterpartiesFive state LDCs serving 1.6 million customersStrong earnings trajectory driven by customer growth, system integrity improvements, and continued expansion of natural gas infrastructureEfficient recovery mechanisms allow for timely recovery of investmentsELECTRIC UTILITIES& INFRASTRUCTUREGAS UTILITIES& INFRASTRUCTURECOMMERCIAL RENEWABLES $72 BMARKET CAP (AS OF 9/30/2022)HEADQUARTERED IN CHARLOTTE, NC$172 BTOTAL ASSETS (AS OF 6/30/2022)28 KEMPLOYEES (AS OF 12/31/2021)54 GWsTOTAL GENERATING CAPACITY (AS OF 12/31/2021) A FORTUNE 150 COMPANY(1)With the exception ofKY Industrial customer rates. Typical bill rates (¢/kWh) in effect as of January 1, 2022. Source: EEI Typical Bills and Avg. Rates Report, Winter 2022 (2)Year to year reductions will be influenced by customer demand for electricity, weather, fuel, purchased power costs and otherfactors

// 34 Electric utilities & infrastructure 11.7311.159.819.558.368.067.507.486.69 DEK U.S. AVG. DEI DEF DEP (NC) DEP (SC) DEO DEC (SC) DEC (NC) GWhSoldResidential35%Commercial29%Industrial19%Wholesale17% CAROLINASFLORIDAMIDWESTDuke EnergyCarolinas (NC/SC)Duke EnergyProgress (NC/SC)Duke EnergyFloridaDuke EnergyIndianaDuke EnergyOhio / KentuckyREGULATED ELECTRIC2021 EARNINGS BASE(1)Typical bill rates (¢/kWh) in effect as of January 1, 2022. Source: EEI Typical Bills and Avg. Rates Report, Winter 2022 DEC37%DEP24%DEF21%DEI12%$77 BDEO -Electric5%DEK -Electric1% 14.8314.3913.8913.2212.3211.9911.8711.7310.53 U.S. AVG. DEK DEI DEF DEP (NC) DEP (SC) DEC (SC) DEO DEC (NC) 12.8412.711.3710.448.08.48.447.33.7 U.S. AVG. DEK DEI DEF DEP (SC) DEP (NC) DEO DEC (SC) DEC (NC) COMPETITIVE CUSTOMER RATES(1) RESIDENTIALCOMMERCIALINDUSTRIALBALANCED CUSTOMER MIX

// 35 Gas utilities & infrastructure(1)Piedmont CAGR: 1.9%, Midwest LDC CAGR 0.9%(2)Piedmont’s operation under the Annual Review Mechanism (ARM) in lieu of operation under the Integrity Management Rider (IMR) in Tennessee is currently pending TPUC approvalGAS UTILITIES WITH LOW VOLUMETRIC EXPOSURE DUE TO MOSTLY FIXED MARGINS… FixedMarginSemi-fixedMarginVolumetricMargin74%13%13% 87%MOSTLYFIXEDMARGINS 1.3% 1.4% 1.4% 1.3% 2.0% 1.7% 201620172018201920202021 …WITH EARNINGS DRIVEN BY INVESTMENT AND STRONG RESIDENTIAL CUSTOMER GROWTHMARGIN STABILIZING MECHANISMS 1. Purchased Gas AdjustmentAll States2. Uncollectible RecoveryAll States3. Integrity Management Rider (“IMR”)North Carolina and Tennessee(2)4. Margin DecouplingNorth Carolina5. Weather NormalizationSouth Carolina, Tennessee, and Kentucky6. Rate Stabilization ActSouth Carolina7. Accelerated Main Replacement Program RiderOhio8. Fixed Customer ChargeAll States

// 36 OUR INVESTMENT IN OUR COMMUNITIES•Upskilling$40 million customer assistance $30.8M Foundation impact Our customers Energy affordability and rate stabilityReliable energy and resilient gridProvide products and programsthat enable energy management and vehicle electrification$40 million in aid for customers, communities$9 million invested in workforcedevelopment programsStrong focus on multiskilling workers20+ lineworkertraining programs across 5 states50% racial, gender and ethnic diversity representedClimate goal added to executive compensationAdvancing diverse representation and inclusive environment for employees92% of employees say their immediate manager supports diversity and inclusion in the workplace10 employee resource groups to helpensure employees feel a sense of belongingDeepening insights into our policies and practices for environmental justice and climate resiliencyOngoing engagement in IRPs, subsequent license renewal for nuclear units, and other infrastructure projects Our investment in our communities Workforce development Board of directors Diversity and inclusion Stakeholder engagementDelivering benefits to our stakeholders, guided by strong governance

// 37 Ethics and complianceDuke Energy’s Ethics and Compliance Program promotes an organizational culture that encourages ethical conduct, a commitment to compliance with laws and regulatory requirements, and a culture of reporting concerns without the fear of retaliationElementsOverseen by the Audit Committee of the Board and governance through a steering committee of executive management knowledgeable about the implementation of the programThe Chief Ethics and Compliance Officer reports administratively to the Chief Legal OfficerAnnual enterprise compliance risk assessments to identify and mitigate risk, with regular monitoring of compliance activity and performance throughout the yearEmployee expectations set by the Code of Business Ethics (CoBE) and supported by specific policies and procedures with consequences for conduct inconsistent with our valuesCoBEtraining provided annually to all employees with supplemental training and awareness provided based on role and responsibility,regularly reviewed to ensure effectiveness Anonymous reporting hotline and several other options to report misconduct with independent investigations of all allegationsbytrained professionalsSeparate codes of conduct for the Board of Directors and for Suppliers to communicate expectations and requirements applicable to their roles, supported by training and third-party due diligence to ensure accountability EffectivenessDuke Energy scored at or above the effectiveness benchmark for its Ethics & Compliance Program, Culture of Ethics, Corporate Governance, and Environmental and Social Impact by Ethisphere, the global leader for defining and measuring corporate ethics

// 38 Trust starts with transparency Please see these key disclosures on our website: Proxy Report 2021 ESG Report 2022 Climate Report Semiannual Corporate Political Expenditures Report 2022 Annual Trade Associations Climate ReviewAlso, we annually submit responses to the CDP Climate and CDP Water as well as the S&P Global Dow Jones Sustainability Index. SASB Disclosures EEI/AGA Template Disclosure GRI Disclosures EJ Principals Biodiversity Policy

// 39 Long-standing history of strong governance driven from diverse board of directors13 out of 14 directors are independent (all directors except Chair, President and CEO)Caroline DorsaRetired EVP & CFO, PSEG Director since 2021Michael J. PacilioRetired EVP & COO, Exelon Generation Director since 2021 Lynn J. GoodChair, President & CEO, Duke Energy Director since 2013Annette K. ClaytonPresident & CEO, North America Operations, Schneider Electric Director since 2019 Theodore F. Craver Jr.Retired Chairman, President & CEO, Edison International Director since 2017 John T. HerronRetired President, CEO & Chief Nuclear Officer, Entergy Nuclear Director since 2013 W. Roy DunbarRetired Chairman and CEO, Network Solutions Director since 2021 Thomas E. SkainsRetired Chairman, President & CEO, Piedmont Natural Gas Director since 2016 William E. WebsterRetired EVP, Institute of Nuclear Power Operations Director since 2016 Idalene F. KesnerDean, Indiana University Kelley School of Business Director since 2021 Robert M. DavisPresident and CEO, Merck & Co. Director since 2018 Nicholas C. FanandakisRetired EVP, DuPont de Nemours Director since 2019 E. Marie McKeeRetired SVP, Corning Director since 2012Derrick BurksRetired Managing Partner, Indianapolis Office, Ernst & Young Director since 2022 Michael J. PacilioRetired EVP & COO, Exelon Generation Director since 2021Caroline DorsaRetired EVP & CFO, PSEG Director since 2021 Key Stats50%Racial, Gender and Ethnic Diversity Key Skills &ExperienceCustomer Service9Cybersecurity/Technology9ESG11Human Capital Management6Industry9Regulatory/ Government12Risk Management134Years Average Tenure

// 40 Continued commitment to sound governance and compensation practices Integrate key performance metrics in our incentive plans relating to environmental, safety, human capital management and customer initiativesRequire significant stock ownership (6x base salary for our CEO and 3x base salary for NEOs)Maintain a stock retention policyTie equity and cash-based incentive compensation to a claw back policyConsider shareholder feedback and the prior year’s “say-on-pay” voteRequire that equity awards must be subject to a one- year minimum vesting period, subject to limited exceptionsDisclose performance targets for the open performance share cycle granted in the most recent yearCompensation and People Development Committee retains independent consultant Governance Best Practices Compensation Program Best Practices Independent Lead Director with clearly defined role and responsibilities Robust year-round shareholder engagement program, including director involvementRegular Board refreshmentAnnual Board, committee and director assessmentsIndependent Board committeesClearly defined environmental and social initiatives and goalsBoard responsiveness to majority support of shareholder proposalsProxy access mechanism for director nominationsMajority voting for directors with mandatory resignation policyAbility for shareholders to take actionby less than unanimous written consentAbility for shareholders to call a special shareholder meetingAnnual election of all directorsPolicy to prohibit all hedging and pledging of corporate securitiesEach share of common stock is equal to one vote

// 41 Executive compensation program aligned with business strategy RSUs, 23%Performance Shares, 53%Base Salary, 9%Short-Term Incentives (Cash), 15%CEOTarget Compensation Mix(2022 Proxy)91% Performance and/or Stock-Based RSUs, 18%Performance Shares, 43%Base Salary, 21%Short-Term Incentives (Cash), 18%OTHER NEOS79% Performance and/or Stock-Based ELEMENTMETRICSSHORT-TERM INCENTIVE (STI) AnnualCash IncentiveAdjustedEPSO&MExpenseOperational Excellence -Targets set on an absolute basis for safety / environmentaland reliability goalsCustomerSatisfactionClimate (non-emitting generation growth)LONG-TERM INCENTIVE(LTI) 70%Performance Shares 50% Cumulative Adj. EPS25% Relative TSR25% Safety(targets set on a relative basis)30% Restricted StockUnits (RSUs) Service-based (3-year pro-rata vesting) Performance Metrics Support Key Goals A quantitative climate-related metric has been incorporated into our short-term incentive plan for 2022

// 42 Performance metrics aligned to our strategy Our STI plan includes several components that are directly tied to advancing Our Clean Energy Transformation, including:A qualitative performance assessment of each executive officer’s contributions to achieving our long-term goal of net-zero by 2050A quantitative goal based on growth in non-emitting generation and storage capacity compared to pre-established metrics (new for 2022)To enhance our commitment to the environment, we incorporate an environmental events metric into our STI plan. This objective emphasizes identification and mitigation of environmental risks associated with our operations.Safety remains our top priority. As an indication of our commitment to safety, we include safety metrics in both the STI and LTI plans based on the TICR for employees, which measures the number of occupational injuries and illnesses per 100 workers to emphasize our focus on an event-free and injury-free workplaceWe continue to prioritize the customer experience. To drive these results, we incorporate a customer satisfaction metric in the STI plan that is a composite of customer satisfaction survey results (related to net promoter score) for each area of our business. Our desire to satisfy our customers provides an additional incentive to generate clean energyWe continue to incorporate sound governance principles and policies into our compensation program that reinforce our pay for performance philosophy and strengthen the alignment of interests of our executives and shareholders Carbon ReductionEnvironmental EventsSafetyCustomersStrong Governance

// 43 Human capital managementThe energy industry is in the midst ofa massive transformation, and we must have an innovative, talented team of professionals who represent the diversity of the customers we serve as a foundation for success Secondconsecutive year publishing EEO-1 data2021 was our most diverse recruiting year ever; 35%of new hires were female and 34%were people of colorGen X, millennial and Gen Z workers collectively representabout 76%of our workforce92%of employees said their immediate manager supportsdiversity and inclusion in the workplaceWe added 2 new Employee Resource Groups (ERG), bringingour total to 10 and 32 chaptersSince 2021, the Duke Energy Foundation has committed more than $8 million to social justice and racial equity organizations with $1 millionin employee-directed grants Workforce demographicsHighlights 12/31/202012/31/2021Workforce DiversityFemales as % of workforce23.3%23.9%Race/Ethnicity as % of workforce18.8%19.6%Leadership Diversity Females as % of all leadership19.8%21.3%Females as % of VP and above27.2%27.6%Females as % of chief officer roles30.4%37.0%Race/Ethnicity as % of all leadership13.0%13.6%Race/Ethnicity as % of VP and above18.5%17.3%Race/Ethnicity as % of chief officer roles26.1%18.5%

// 44 Enterprise securityProtecting our teammates, assets and information is top priority, enabling the delivery of the essential service our customers and communities rely on. Enterprise Security is made up of three complementary departments working together to provide a foundational approach to physical, cybersecurity and compliance protection Defends Duke Energy’s networks and technology assets against cyber threatsCyber Defense OperationsCybersecurity Architecture, Strategy, Governance and RiskIdentity & Access ManagementOperational Technology (OT) Security ProgramProtects Duke Energy’s teammates, data, and assetsProtective ServicesPhysical SecurityThreat Intelligence and Data ProtectionPreparedness ServicesProvides governance and oversight of the enterprise NERC CIP ProgramRegulatory InteractionEnterprise NERC CIP ImplementationEnterprise CIP OversightNERC CIP Program ManagementEnterprise protective servicesEnterprise cybersecurity

// 45 Supplier diversityDuke Energy’s supplier diversity program reflects our commitment to inclusion and to developing and expanding relationships with diverse businesses at least 51% owned, controlled or managed by minorities, women, veterans, LGBT individuals and those with disabilities, as well as businesses located in federally designated HUBZonesWith an inclusive supply chain, we deliver greater value to our customers and communities as we chart the path forward to net-zero carbon emissions.Supplier diversity helps us:Stay agile Drive access to new marketsSource sustainably Contribute to the economic vitality of our communitiesProvide reliable, affordable service to our customersSupplier Diversity $1,214 B$1,342 B$1,620 B$1,283 B$1,543 B20172018201920202021 For the last six years, Duke Energy has spent more than $1 billion, directly (Tier 1) and indirectly (Tier 2), with diverse suppliersTotal spend with diverse suppliers since 2017(1)Spend increased due to changes in system process and technology(1)

// 46 Supply chain sustainability –2021 overviewOur supply chain sustainability strategy enables us to reduce carbon emissions in our supply chain, promote economic development and build diversity among our supply base. As we chart the path toward net-zero carbon emissions, our supply chain environmental programs help reduce greenhouse gas emissions and preserve natural resources Diverted more than 87,700 tons of solid waste through recycling and beneficial reuse, including 90% of old power poles, pallets, reels and other woodRemanufactured and repaired 22% of its scrap transformers, significantly reducing the need to purchase new equipment and the use of oil and metals such as copper, aluminum and steelCoordinated 129 backhaul pickups, saving over 12,000 miles traveledReduced the amount of time our trucks operated in idle mode by 8%, preventing 90 tons of greenhouse gas emissionsSpent more than $4 billion with local suppliersExceeded $1.5 billion in spend with diverse suppliers, with nearly 40% of the spending from subcontracting by our prime contractorsSupported over 4,700 local jobs and generated approximately $460 million of added value to the GRP Introduced an inaugural Supplier Diversity University, a two-day educational event focused on enhancing existing diverse supplier relationships and developing new onesEarned two Supplier Diversity Advocate of the Year Awards, one from the Florida State Minority Supplier Development Council and the other by the National Association of Women Business Owners Orlando Chapter Building diversity among our supply basePromoting economic developmentReducing carbon emissions in our supply chain

// 47 Sustainable financing framework sustainable-financing-framework Green and sustainability bond financingNew use of proceeds-based framework greatly expands the eligible project categories to align with our interim and long-term carbon reduction goals: Renewable energy, green innovation, energy efficiency, clean transportation, green buildings, climate change adaptation, and socio- economic advancement & empowermentExternal review of the framework by S&P Global and opinion published on their platformIndependent public accounting firm verification of each sustainable financing under the framework Issued $3.2 billion in new Sustainability Bonds since publishing framework in November 2021Sustainable commercial paper (CP) program -first in the industry Program will be supported by the Socioeconomic Advancement and Empowerment project category within our Sustainable Financing FrameworkSupported by diverse supplier spend; up to $650 million of sustainable CP notes outstanding over the next 12 months

// 48 Customer satisfactionFour of our five brands were in the top quartile among large utilities nationally in the 2021 J.D. Power and AssociatesUtility Residential Customer SatisfactionStudiesJ.D. Power's residential utility studies 757764765772783DEMWDEFDEPDECPNG

// 49 Building a green-enabled and resilient infrastructureDeliver a smarter, more resilient and reliable grid with innovative functionalities Upgrading equipmentTo support higher capacity Installing smart self-healing technologyTo Identify outages before they occur and restore service faster Distribution-scale battery storage To establish microgrids during periods of high demand Enable two-way flow of electricityTo enable grid edge technologies like rooftop solar, battery storage, EVs, and microgrids EnergyorchestrationTo meet our net-zero carbon goals by pairing our energy resources with customer-sited assets and programs

// 50 Electric vehicle infrastructureBy 2025, Duke Energy will have invested approximately $100 million in EV charging infrastructure across its service territoriesInitiatives include innovative programs and supporting our states’ work to deploy EV infrastructure plans –in part by helping deploy fast-charging stations as neededAn array of programs in Florida highlights Duke Energy’s EV work:C&I rebates help businesses, municipalities and third parties install chargers to support their goalsResidential off-peak credits reward residents for avoiding times of grid congestion when charging EVsThe Park &Plug program helps provide foundational public charging infrastructureo627 EV charging stations installed in public spaces and on thoroughfares –including 52 fast-charging stations in strategic locations to connect major and secondary corridors and evacuation routesoMore than 237,000 charging sessions since 2018

// 51 Duke Energy transportation electrification growthEnergy Forecast (MWhs) EVs forecasted in Duke Energy jurisdictions MWhs EVs on the road 0500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 - 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,0002022202520302035Forecast: Electric Vehicles in Operation

// 52 Maintaining optionality for up to 1.6 GWs of offshore wind in the Carolinas if selected by the NCUC for inclusion in the Carbon Plan Path to utility ownership across our jurisdictionsprovides benefits to customers and investment opportunities Plans show a need formorethan 30GWsof solar and wind capacity enterprise-widethrough the end of 2035(1) Growth in renewable energy over the next decade is essential to decarbonizationStorage will play an increasingly important role in maintaining reliability with intermittent renewable resources.Currently planning for over 10 GWs of storage capacity by 2035 (1)Includes utility-owned and purchased power agreements

// 53 Strong track record of meeting climate commitments Our commitment to address climate is integrated into everything we do –every day –as we seek to reduce our greenhouse gas emissions and mitigate climate risk. This focus will deliver value for our customers and our shareholders. 2010 Initial carbon reduction goal of 17% by 2020(1) 2017 Updated goal to 40% carbon reduction by 2030(1) 2019 Accelerated 2030 goal to 50% carbon reduction by 2030(1)Net-zero carbon goal announced(1)Net-zero methane by 2030 goal announcedPledge to electrify vehicle fleet by 20302020 2018 –and beyondStakeholder engagement greatly enhanced across all jurisdictions Inaugural biennial climate report to stakeholdersOct. 2022 Expanded our net-zero goal to include Scope 2 and certain Scope 3 emissions(2)Carolinas Carbon Plan proposed to reduce 70% carbon dioxide (CO2) emissions reduction by 2030(1)and carbon neutrality by 20502018Feb. 2022 Updated interim target of 50% Scope 2 & 3 reduction by 2035(2)and 80% Scope 1 CO2reduction by 2040(1)(1)From electricity generation, off 2005 levels. (2)Scope 2 and certain Scope 3 emission reductions are offof2021 levels. Certain Scope 3 emissions include: upstream fossil fuel procurement, production of power purchased for resale, and downstream use of sold products in our natural gas LDCs

// 54 Example Scope 1-3 emissions categories in the value chain

// 55 5%95%Breakdown of emissions included in and excluded from net-zero goal Emissions excludedfrom net-zero goal Emissions included innet-zero goalOver 95% of Duke Energy’s calculated emissions fall into our currently stated net-zero goal(1) Category NameC02eEmissions(Thousands MT)% of Total EmissionsScope 1: Direct emissionsElectrical generation77,39970.7%NG distribution facilities3220.3%SF6 from T&D transformers3630.3%Fleet (forklifts, cars, trucks)1100.1%Ancillary equipment8440.8%Refrigerants800.1%NG usage at Duke Energy buildings40.0%Scope 2: Indirect emissionsPurchased power (consumed)30.0%T&D line loss4250.4%Scope 3: Indirectly owned emissionsUpstream emissions from NG suppliers1,0190.9%Purchased power to end users13,26112.1%Extraction, production, & transportation of fossil fuels (coal, NG, fuel oil)5,4785.0%Use of sold products6,6086.0%Purchases of goods & services2,8032.6%Other fuel & energy not in Scope 1 and 22800.3%Waste510.0%Business travel40.0%Employee commuting840.1%Processing of sold products3460.3%Total company emissions in net-zero goal104,51595.5%Total company emissions109,486100%Emissions included in net-zero goalLeading in transparency for Scope 1, 2, 3 emissions(1)Scope 1, 2 and 3 GHG numbers were derived based upon the best available measurements, methodologies and estimates; Scope 3, category 15 (investments) is not included.

// 56 Carbon emission reductionsC02Intensity (Metric tons/MWh)TPI below 2 degrees Duke Energy projected 00.10.20.3 0.4 0.520202030203520402050Duke Energy CO2Intensity (metric tons/MWh) Projection vs. Transitional Pathways Initiative (TPI)

// 57 Significantly reducing Scope 1 emissions from electricity generationRemoved 62 million metric tons of annual CO2emissions from electric generation since 2005, equivalent to taking over 13 million fossil-fueled vehicles off the road CO2emissionsCO2emissions declined from 139 million metric tons in 2005 to 77million metric tons in 2021CO2 emissions declined 44% since 2005On track to exceed 50% reduction by 2030Emission intensity0.36 metric tons per net MWh in 202139% reduction in CO2intensity since 2005 - 0.25 0.50 0.75 - 25 50 75 100 125 15020052018201920202021 Metric Tons / net MWh Million Metric Tons Emissions (Left Axis) Emission Intensity (Right Axis) Emissions from electric generationCO2Emissions (metric tons) and Emission Intensity (metric tons/net MWh)CO2 CO2

// 58 National leader in low carbon intensity energy 00.511.522.5ABCDEF Peer Average GHI Duke Energy JKDuke 2030 Duke 2035 Duke 2040 Carbon Intensity [lbs./kWh]Carbon Intensity Benchmarks and Duke Energy ProjectionsSource: Utility Benchmarking Air Emissions per The Sustainability Institute by ERMPeer Average represents the average of the following companies, which are also shown individually in the chart, not necessarily in the order presented: AEP, Ameren, CMS, Dominion, DTE, FirstEnergy, NextEra, PPL, Southern, WEC and Xcel 2020 Benchmarking Air Emissions -ERM Duke Energy Projections

// 59 Just Transition PrinciplesAs we navigate the largest planned coal retirement in the industry, we are being intentional in how we approach a fair, equitable, and just transition for our employees, customers, and communities.We commit to: Support the workforceFundamental to our transformation is our commitment to enable sustainable career opportunities and build a talented, diverse workforce across the communities we serve.We will support the workforce needed to safely run and maintain the plants through retirement.Additional support for employees affected by our clean energy transformation will include providing assistance topursue new career paths, including multiskilling and internal placement opportunities and, if needed, external career transition support.Engage with our communitiesWe will communicate with key stakeholders in and around the community to identify opportunities and needs that arise as a direct result of the transition. We will seek advice from and partner closely with the affected community, including individual community members and public and private organizations that can share unique perspectives as we listen, learn and adjust to develop collaborative community plans.Prioritize reliable, affordable, and accessible energy for all customersWe are focused on maintaining energy reliability during the transition while recognizing the importance of affordability for our customers and are committed to balancing these needs. Additionally, we will prioritize scenarios benefiting customers including power generation supported by clean energy sources.Evaluate community developmentWe will incorporate a process to evaluate Duke Energy infrastructure and land for replacement generation, alternative economic development opportunities and/or land restoration to benefit the vitality and well-being as well asthe environment of the local community.We will partner with the community to evaluate additional regional economic opportunities that will promote employment and sustainable economic benefits.

// 60 2021202520302035Coal CapacityCoalonlyDual fuel(2) 15,792 MW14,507 MW8,305 MW -9,714 MW(1)Retirements are subject to regulator approval. MWs based on winter capacity and Duke Energy’s ownership % of generation assets(2)Dual fuel denotes coal units that have been or will be retrofitted to run fully or partially on natural gas. As of December 31, 2021, the dual-fuel capable units and percentage of gas capacity are Cliffside 6 (100%), Belews Creek 1 & 2 (50%), Cliffside 5 (40%), Marshall 1&2 (40%), Marshall 3 & 4 (50%), Edwardsport (100%)(3)Unit expected to operate beyond listed date on natural gas only(4)2030 coal capacity range considers timing of Roxboro units 3 & 4 retirements(5)Contemplates retiring Edwardsport coal gasifiers by 2035 or adding carbon capture utilization and storage to reduce carbon emissions Planned Coal Capacity RetirementsTotal Capacity (MW)Retirement YearDECAllen 1&54262023Cliffside 5(2)5462025Marshall 1-2(2)7602028Marshall 3-4(2)1,3182032Belews Creek 1-2(2) (3)2,2202035Cliffside 6(2) (3)8492035DEPMayo7132028Roxboro 1-21,0532028Roxboro 3-41,4092027-2033(4)Total Carolinas: 9,294DEIGibson 53132025Cayuga 1-21,0052027Gibson 3-41,2622029Gibson 1-21,2702035Edwardsport(3) (5)6182035DEFCrystal River 4-51,4302034DEKEast Bend 26002035Total Midwest & Florida: 6,498Total Enterprise: 15,792Out of coal by Dec. 31(4)Out of coal by 2035(1)

// 61 Coal as a percentage of earnings base(1)(1)Subject to regulatory approvals (2)Dual fuel denotes coal units that have been or will be retrofitted to run fully or partially on natural gas. As of December 31, 2021,the dual-fuel capable units and percentage of gas capacity are Cliffside 6 (100%), Belews Creek 1 & 2 (50%), Cliffside 5 (40%), Marshall 1 & 2 (40%), Marshall 3 & 4 (50%), Edwardsport (100%)Coal/ OilDual Fuel(2) 8%4%1%4%3%1-2%20212025E2030E~12%~7%~2-3%

// 62 DUKE ENERGY CAROLINASDUKE ENERGY INDIANADUKE ENERGY PROGRESSDUKE ENERGY FLORIDA 6%3%1%8%5%3%20212025E2030E14%8%4%(1)Subject to regulatory approvals. Coal earnings base for Duke Energy Kentucky is 8%, 6%, and 4% for 2021, 2025E and 2030E, respectively. (2)Dual fuel denotes coal units that have been or will be retrofitted to run fully or partially on natural gas. As of December 31, 2021, the dual-fuel capable units and percentage of gas capacity are Cliffside 6 (100%), Belews Creek 1 & 2 (50%), Cliffside 5 (40%), Marshall 1 & 2 (40%), Marshall 3 & 4 (50%), Edwardsport (100%) 20%11%3%16%11%6%20212025E2030E36%22%9%Coal/ OilDual Fuel(2) 8%4%20212025E2030E<1% 7%4%20212025E2030E1%Coal as a percentage of earnings base by jurisdiction(1)

// 63 2021202520302035Coal Capacity(3)9,294MW8,322MW4,387 MWto5,796 MWOut of coal by Dec. 31Jurisdictional update –Duke Energy Carolinas and Duke Energy ProgressCoal/ OilNaturalGas NuclearHydro, Wind & Solar 1%2%46%51% 15%30%53%2%2005(1)2021(1)Generation (MWh) by Fuel Type153109Key Stats(1)4.5 million electric customers32.6 GW owned generation capacity4.3 GW coal retirements, 2010 –202154.7% of electricity generated in 2021 was from carbon-free sources 3%32%45%20%2030(2)Energy Transition –Carolinas Carbon PlanFiled Carolinas Carbon Plan in North Carolina; includes a range of portfolios that achieve the interim 70% reduction target and reach carbon neutrality by 2050North Carolina Utilities Commission is required to approve a plan by Dec. 31, 2022The plan will be filed in South Carolina in the next comprehensive IRP in 2023All portfolios replace coal with a diverse mix of solar, storage, wind, small modular nuclear and natural gas through 2050Estimated carbon reduction of 63% to 70% by 2030(2)Ten-year investment plan comprised of ~50% reliability and grid-enablement, ~45% generation transition and ~5% other(1)As of Dec. 31, 2021. 2005 and 2021 data based on Duke Energy’s ownership share of U.S. generation assets as of Dec. 31, 2021(2)Based upon midpoint of generation mix between Carolinas Carbon Plan P1-P4 portfolios(3)Retirements are subject to regulatory approval. MWs based on winter capacity and Duke Energy’s ownership % of generation assets Dual fuel(4)Coal only (4) See slide 60, footnote 2(1)

// 64 2021202520302035Utility-scale Solar Capacity(2)(3)586 MW1,975 MW3,625 MWJurisdictional update –Duke Energy FloridaCoal/ OilNaturalGas NuclearSolar 26%15%59% 13%85%2%2005(1)2021(1)Generation (MWh) by Fuel Type153109Key Stats(1)1.9 million electric customers10.3 GW owned generation capacity0.8 GW coal retirements, 2010 –2021 3%78%19%2030(2)Energy TransitionFocused transition from fossil fuel generation to renewables over the next decade positions DEF for a gradual reduction in CO2 emissions and provides rate stability for customersCurrently operating two coal units (1.4 GW), which are scheduled to retire in 2034Estimated carbon reduction of 40% to 45% by 2030(2)Ten-year investment plan is comprised of ~75% reliability and grid enablement and ~25% generation transition(1)(1)As of Dec. 31, 2021. 2005 and 2021 data based on Duke Energy’s ownership share of U.S. generation assets as of Dec. 31, 2021.(2)As modeled for the 2022 10-year site plan and 2022 Climate Report(3)MWs based on nameplate capacity and Duke Energy’s ownership % of generation assets 6,375 MW

// 65 Jurisdictional update –Duke Energy IndianaCoal/ OilNaturalGas Wind& Solar 1%3%96% 83%15%2%2005(1)2021(1)Generation (MWh) by Fuel Type153109Key Stats(1)0.9 million electric customers6.3 GW owned generation capacity1.4 GW coal retirements, 2010 –2021 16%63%21%2030(2)Energy Transition2021 Integrated Resource Plan (IRP) outlines Duke Energy Indiana’s plans to transition out of coal generation by 2035 (2.5 GW of coal retired by 2030, remainder retires by 2035)Resource plan replaces coal with a diverse mix of solar, storage, wind and natural gas and will be updated to reflect market and input changes over timeEdwardsport gasifiers scheduled to retire in 2035 or add carbon capture utilization and storage to reduce carbon emissionsEstimated carbon reduction of 63% to 70% by 2030(2)Ten-year investment plan is comprised of~55% reliability and grid enablement, ~35% generation transition and 10% other 2021202520302035Coal Capacity(3)4,468 MW4,155 MW1,888 MWOut of coal by Dec. 31(1)As of Dec. 31, 2021. 2005 and 2021 data based on Duke Energy’s ownership share of U.S. generation assets as of Dec. 31, 2021(2)As modeled in the 2021 IRP and 2022 Climate Report(3)Retirements are subject to regulatory approval. MWs based on winter capacity and Duke Energy’s ownership % of generation assets(1)

// 66 Jurisdictional update –Duke Energy KentuckyCoal/ OilNaturalGas Solar 1%99% 98%2%2005(1)2021(1)Generation (MWh) by Fuel Type153109Key Stats(1)146 thousand electric customers1.1 GW owned generation capacity 87%13%2030(2)Energy Transition2021 Integrated Resource Plan (IRP) outlines Duke Energy Kentucky’s plans to transition out of coal generation by 2035Capacity to replace East Bend 2 could include renewables combined with storage and afirm dispatchable resource (ZELFR) 2021202520302035Coal Capacity(2)600 MWOut of coal by Dec. 31600 MW600 MW(1)As of Dec. 31, 2021. 2005 and 2021 data based on Duke Energy’s ownership share of U.S. generation assets as of Dec. 31, 2021(2)As modeled in the 2021 IRP and 2022 Climate Report. Retirements are subject to regulator approval. MWs based on winter capacity and Duke Energy’s ownership % of generation assets.(1)

// 67 2021202520302035204020452050 Demand Response4455555 Storage23411192628 Renewables7112132445255 ZELFRs---272743 Existing Nuclear9999999 Gas282932333012- Coal161510---- - 20 40 60 80 100 120 140 160Generating Capacity (GW) –Enterprise(2)Diverse generation mix is key to reliability and rate stability for customers(1)(1)Subject to regulatory approvals. Contemplates retiring Edwardsport coal gasifiers by 2035 or adding carbon capture utilization and storage to reduce carbon emissions(2)Includes utility-owned and purchase power agreements(3)Zero-emission load following resources (ZELFRs) include small modular reactors and turbines run off ofhydrogen or biofuels(3)

// 68 Gas LDC emission reduction strategies MAKING PROGRESS ON 2030 NET-ZERO GOAL FOR SCOPE 1 METHANE EMISSIONS RENEWABLE NATURAL GAS (RNG) PLAYS A KEY ROLE IN DECARBONIZATIONCLEAR PATH TO ACHIEVING SCOPE 3 EMISSION REDUCTION GOALS(1)(1) Enterprise goal of 50% reduction by 2035 off2021 levels; net-zero by 2050. Certain Scope 3 emissions include: upstream fossil fuel procurement, production of power purchased for resale, and downstream use of sold products in our natural gas LDCsPartnering with natural gas producers and shippers to reduce methane emissionsMember of the ONE Future Coalition –more than 50 natural gas companies working together to voluntarily reduce methane emissions across the value chain to 1% or less by 2025Developed customer emission offset programs and expanded energy efficiency programs Invested in SustainRNG and other landfill RNG facilities to provide a renewable energy source to natural gas users nationwide -$150 million to date, with plans to invest $300 million more inthe next 5 yearsIn the near term, incorporating RNG into our own supply for our customers will help to reduce the overall footprint of methane emissionsReplaced cast iron and bare steel pipe, resulting in the elimination of the methane emissions previously attributed to the cast iron and bare steel infrastructureMinimizing the use of operational flaring with the utilization of cross-compression technology in certain operational activitiesContinue to work with our jurisdictions to expand renewable natural gas availability for our customers and availability for use at our 14 compressed natural gas stations for commercial truckingRNG is pipeline-quality biogas that is considered carbon neutral because it removes methane from agriculture and waste sectors and repurposes it for use by end users through the natural gas pipeline network, displacing geological gas In some instances, more emissions are removed from the atmosphere than what is emitted for end uses, making it carbon negativePartnering with Accenture, Avanade and Microsoft on satellite leak detection platform, reducing the need to find leaks with hand-held sensors

// 69 Awards and recognition Dow JonesSustainability Index16 years in a rowHuman RightsCampaign Foundation2022 Corporate Equality IndexHire Vets2021 Gold Medallion Award2022 FortuneWorld’s Most Admired Companies2021 ForbesBest Employers for Diversity and Best Employers for WomenNo.1 in 2021 among U.S. utilities for investor transparencyby Labrador Advisory ServicesBest company for the environment in our industryby JUST capital

// 70 Ratings and rankings Scale20212022CommentsMSCILetter grade and 0-10 (best) scoreA 6.7AA 8.1Feb. 2022 upgrade to AASustainalyticsESG Risk Rating0 (best)-100 and rank (1=best)33.2 risk rating27.6 risk rating59 out of 296in global electric sectorBloomberg ESG Disclosure Score0-100 (best)61.964.9Highest score for our peer U.S. utilitiesISS Quality Scores1 (best)-1033 14 3 1-

// 71 Investor relations contact informationJACK SULLIVAN, VICE PRESIDENT INVESTOR RELATIONS Jack.Sullivan@duke-energy.com (980) 373-3564 CHRIS JACOBI, DIRECTOR INVESTOR RELATIONS Christopher.Jacobi@duke-energy.com (704) 382-8397 LINDA MILLER, MANAGER INVESTOR RELATIONS Linda.Miller@duke-energy.com (980) 373-2407