Constellation Energy (CEG): ECP group discloses 4% stake after June 2026 sale

Rhea-AI Filing Summary

Energy Capital Partners-affiliated entities report updated beneficial ownership of Constellation Energy Corp common stock on an amended Schedule 13G. After selling shares pursuant to an underwriting agreement on June 2, 2026, the reporting group collectively holds 14,443,227 shares, representing 4.0% of Constellation’s common stock, based on 357,102,017 shares outstanding as of that date. The interests are held through multiple Delaware limited partnerships and LLCs, with ECP ControlCo, LLC and related general partners able to share voting and dispositive power and expressly disclaiming beneficial ownership beyond their indirect control roles. The filing confirms the group now owns 5 percent or less of this class.

Key Figures

Shares beneficially owned: 14,443,227 shares Ownership percentage: 4.0% Shares outstanding baseline: 357,102,017 shares +3 more

6 metrics

Shares beneficially owned 14,443,227 shares Constellation Energy common stock held by the ECP reporting group immediately after June 2, 2026 sale

Ownership percentage 4.0% Portion of Constellation Energy common stock class beneficially owned by the ECP group

Shares outstanding baseline 357,102,017 shares Constellation Energy common stock outstanding as of June 2, 2026 used to calculate ownership

ECP Capital Partners III holdings 7,232,996 shares Shares with shared voting and dispositive power attributed to Energy Capital Partners III, LLC

ECP Calpine GP-related holdings 5,744,080 shares Shares with shared voting and dispositive power attributed to ECP Calpine GP, LLC

ECP III-A Volt Holdings stake 2,327,800 shares Constellation Energy common stock held by ECP III-A Volt Holdings, LLC

Key Terms

beneficial ownership, underwriting agreement, shared voting power, shared dispositive power, +2 more

6 terms

beneficial ownership financial

"The ownership information presented herein represents beneficial ownership of Common Stock immediately after the Reporting Persons' sale"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

underwriting agreement financial

"beneficial ownership of Common Stock immediately after the Reporting Persons' sale of Common Stock pursuant to an underwriting agreement on June 2, 2026"

An underwriting agreement is a contract where a company selling new stocks or bonds hires financial firms to buy those securities and resell them to investors. It matters because the agreement sets the offering price, number of securities, fees and which party bears the risk if sales fall short—think of it as a promise that the sale will happen and a roadmap investors can use to understand how the new securities reach the market.

shared voting power financial

"Shared Voting Power 14,443,227.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 14,443,227.00"

limited liability company regulatory

"Comment for : Limited Liability Company"

A limited liability company (LLC) is a business structure that separates the owners’ personal assets from the company’s debts and legal obligations, like a protective shield that keeps personal savings and property distinct from business risk. For investors, that protection reduces personal financial exposure and often brings flexible rules for profit sharing and taxes, but it can also affect how easily interests are bought or sold and how decisions are made.

Schedule 13G regulatory

"This statement is filed on behalf of the Reporting Persons on Schedule 13G"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

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Available on EDGAR 08/07/2026 - 04:31 PM Accepted by SEC EDGAR 08/07/2026 - 04:30 PM Learn about SEC filing dates

FAQ

How much of Constellation Energy Corp (CEG) does the ECP group currently own?

The ECP-affiliated reporting group beneficially owns 14,443,227 shares of Constellation Energy Corp common stock, representing 4.0% of the class, based on 357,102,017 shares outstanding as of June 2, 2026.

What event triggered the amended ownership filing for CEG by Energy Capital Partners?

The amendment reflects ownership immediately after the Reporting Persons’ sale of common stock under an underwriting agreement on June 2, 2026, which reduced their holdings to 4.0% of Constellation’s outstanding common stock.

Which ECP entities directly hold Constellation Energy (CEG) shares and in what amounts?

Direct holdings include 2,327,800 shares by ECP III-A Volt Holdings, LLC, 2,404,874 by ECP Checkerspot Holdings, LP, and 4,702,479 by ECP Calpine Continuation Fund, LP, among several other ECP Volt and Calpine funds listed in the ownership section.

What does the 5 percent or less ownership disclosure mean for CEG?

The filing states the ECP group now has ownership of 5 percent or less of Constellation’s common stock, with a reported 4.0% stake, which changes their status under beneficial ownership reporting thresholds for this class.

How is control over the Constellation Energy (CEG) shares structured within the ECP group?

ECP ControlCo, LLC is managing member of key ECP entities and, along with various general partners, may be deemed to share voting and dispositive power over the reported shares, while each party disclaims beneficial ownership beyond its indirect interests.

What is the total Constellation Energy (CEG) share count used in the ECP ownership calculation?

The ownership percentages are based on 357,102,017 shares of Constellation Energy Corp common stock outstanding as of June 2, 2026, as disclosed in the company’s prospectus referenced in the filing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Constellation Energy Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

21037T109

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP ControlCo, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 14,443,227.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 14,443,227.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,443,227.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.0 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

Energy Capital Partners III, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,232,996.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,232,996.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,232,996.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.0 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

Energy Capital Partners IV, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,466,151.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,466,151.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,466,151.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.4 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP Calpine GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,744,080.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,744,080.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,744,080.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.6 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP III Volt Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 69,149.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 69,149.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

69,149.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.02 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP III-A Volt Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,327,800.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,327,800.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,327,800.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.7 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP III-B Volt Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 281,120.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 281,120.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

281,120.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP III-C Volt Holdings, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 962,349.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 962,349.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

962,349.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.3 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP III-D Volt Holdings, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,187,704.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,187,704.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,187,704.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.3 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP Checkerspot Holdings, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,404,874.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,404,874.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,404,874.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.7 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP IV-A Volt Holdings, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 351,240.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 351,240.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

351,240.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP IV-B Volt Holdings, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 58,863.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 58,863.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

58,863.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.02 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP IV-C Volt Holdings, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 291,129.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 291,129.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

291,129.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP IV-D Volt Holdings, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 764,919.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 764,919.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

764,919.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.2 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP Calpine Fund GP, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,744,080.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,744,080.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,744,080.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.6 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP Calpine Continuation Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,702,479.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,702,479.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,702,479.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.3 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 21037T109

1

Names of Reporting Persons

ECP Calpine Rollover Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 399,812.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 399,812.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

399,812.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Constellation Energy Corp
(b)	Address of issuer's principal executive offices: 1310 Point Street, Baltimore, MD 21231
Item 2.
(a)	Name of person filing: Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of: ECP ControlCo, LLC Energy Capital Partners III, LLC Energy Capital Partners IV, LLC ECP Calpine GP, LLC ECP III Volt Holdings, LLC ECP III-A Volt Holdings, LLC ECP III-B Volt Holdings, LLC ECP III-C Volt Holdings, LP ECP III-D Volt Holdings, LP ECP Checkerspot Holdings, LP ECP IV-A Volt Holdings, LP ECP IV-B Volt Holdings, LP ECP IV-C Volt Holdings, LP ECP IV-D Volt Holdings, LP ECP Calpine Fund GP, LP ECP Calpine Continuation Fund, LP ECP Calpine Rollover Fund, LP
(b)	Address or principal business office or, if none, residence: The principal business office address for each of the Reporting Persons is c/o ECP ControlCo, LLC, 40 Beechwood Road, Summit, NJ 07901.
(c)	Citizenship: Each of the Reporting Persons is organized under the laws of the State of Delaware.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 21037T109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information contained on the cover pages to this Schedule 13G is incorporated by reference into this Item 4. The ownership information presented herein represents beneficial ownership of Common Stock immediately after the Reporting Persons' sale of Common Stock pursuant to an underwriting agreement on June 2, 2026, based upon 357,102,017 shares of Common Stock outstanding as of June 2, 2026, as disclosed in the Issuer's Prospectus filed with the Securities and Exchange Commission on June 2, 2026. The number of securities reported as beneficially owned herein includes: 69,149 shares of Common Stock held by ECP III Volt Holdings, LLC; 2,327,800 shares of Common Stock held by ECP III-A Volt Holdings, LLC; 281,120 shares of Common Stock held by ECP III-B Volt Holdings, LLC; 962,349 shares of Common Stock held by ECP III-C Volt Holdings, LP; 1,187,704 shares of Common Stock held by ECP III-D Volt Holdings, LP; 2,404,874 shares of Common Stock held by ECP Checkerspot Holdings, LP; 351,240 shares of Common Stock held by ECP IV-A Volt Holdings, LP; 58,863 shares of Common Stock held by ECP IV-B Volt Holdings, LP; 291,129 shares of Common Stock held by ECP IV-C Volt Holdings, LP; 764,919 shares of Common Stock held by ECP IV-D Volt Holdings, LP; 641,789 shares of Common Stock held by ECP Calpine Fund GP, LP.; 4,702,479 shares of Common Stock held by ECP Calpine Continuation Fund, LP; and 399,812 shares of Common Stock held by ECP Calpine Rollover Fund, LP. ECP ControlCo, LLC is the managing member of each of Energy Capital Partners III, LLC, Energy Capital Partners IV, LLC and ECP Calpine GP, LLC. Energy Capital Partners III, LLC, as a result of its indirect control over each of the following entities, may be deemed to share beneficial ownership of the securities held of record by each of ECP III Volt Holdings, LLC, ECP III-A Volt Holdings, LLC, ECP III-B Volt Holdings, LLC, ECP III-C Volt Holdings, LP, ECP III-D Volt Holdings, LP, and ECP Checkerspot Holdings, LP. Energy Capital Partners IV, LLC, as a result of its indirect control over each of the following entities, may be deemed to share beneficial ownership of the securities held of record by each of ECP IV-A Volt Holdings, LP, ECP IV-B Volt Holdings, LP, ECP IV-C Volt Holdings, LP, and ECP IV-D Volt Holdings, LP. ECP Calpine GP, LLC, as a result of its direct control over ECP Calpine Fund GP, LP and indirect control over each of the following entities, may be deemed to share beneficial ownership of the securities held of record by each of ECP Calpine Continuation Fund, LP and ECP Calpine Rollover Fund, LP. ECP Calpine Fund GP, LP in its capacity as the general partner of ECP Calpine Continuation Fund, LP and ECP Calpine Rollover Fund, LP may also be deemed to share beneficial ownership of the securities held of record by each of ECP Calpine Continuation Fund, LP and ECP Calpine Rollover Fund, LP. ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of the relationships described herein, each of ECP ControlCo, LLC and the individuals named herein may be deemed to share beneficial ownership of the securities that may be deemed to be beneficially owned by each of Energy Capital Partners IV, LLC, Energy Capital Partners III, LLC and ECP Calpine GP, LLC. Each of them disclaims any such beneficial ownership.
(b)	Percent of class: See the information contained on the cover pages to this Schedule 13G.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the information contained on the cover pages to this Schedule 13G.
	(ii) Shared power to vote or to direct the vote: See the information contained on the cover pages to this Schedule 13G.
	(iii) Sole power to dispose or to direct the disposition of: See the information contained on the cover pages to this Schedule 13G.
	(iv) Shared power to dispose or to direct the disposition of: See the information contained on the cover pages to this Schedule 13G.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ECP ControlCo, LLC

Signature:	By /s/ Jennifer Gray
Name/Title:	Jennifer Gray, General Counsel
Date:	08/07/2026

Energy Capital Partners III, LLC

Signature:	By: ECP ControlCo, LLC, its managing member, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, General Counsel
Date:	08/07/2026

Energy Capital Partners IV, LLC

Signature:	By: ECP ControlCo, LLC, its managing member, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, General Counsel
Date:	08/07/2026

ECP Calpine GP, LLC

Signature:	By: ECP ControlCo, LLC, its managing member, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, General Counsel
Date:	08/07/2026

ECP III Volt Holdings, LLC

Signature:	By: Energy Capital Partners III, LP, Energy Capital Partners GP III, LP, Energy Capital Partners III, LLC, ECP ControlCo, LLC, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, General Counsel
Date:	08/07/2026

ECP III-A Volt Holdings, LLC

Signature:	By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, Executive Vice President & General Counsel
Date:	08/07/2026

ECP III-B Volt Holdings, LLC

Signature:	By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, Executive Vice President & General Counsel
Date:	08/07/2026

ECP III-C Volt Holdings, LP

Signature:	By: ECP III Volt Holdings GP, LLC, its general partner, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, Executive Vice President & General Counsel
Date:	08/07/2026

ECP III-D Volt Holdings, LP

Signature:	By: ECP III Volt Holdings GP, LLC, its general partner, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, Executive Vice President & General Counsel
Date:	08/07/2026

ECP Checkerspot Holdings, LP

Signature:	By: Volt Parent GP, LLC, Energy Capital Partners III, LLC, ECP ControlCo, LLC, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, General Counsel
Date:	08/07/2026

ECP IV-A Volt Holdings, LP

Signature:	By: ECP IV Volt Holdings GP, LLC, its general partner, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, Executive Vice President & General Counsel
Date:	08/07/2026

ECP IV-B Volt Holdings, LP

Signature:	By: ECP IV Volt Holdings GP, LLC, its general partner, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, Executive Vice President & General Counsel
Date:	08/07/2026

ECP IV-C Volt Holdings, LP

Signature:	By: ECP IV Volt Holdings GP, LLC, its general partner, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, Executive Vice President & General Counsel
Date:	08/07/2026

ECP IV-D Volt Holdings, LP

Signature:	By: ECP IV Volt Holdings GP, LLC, its general partner, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, Executive Vice President & General Counsel
Date:	08/07/2026

ECP Calpine Fund GP, LP

Signature:	By: ECP Calpine GP, LLC, its general partner, By: ECP ControlCo, LLC, its managing member, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, General Counsel
Date:	08/07/2026

ECP Calpine Continuation Fund, LP

Signature:	By: ECP Calpine Fund GP, LP, By: ECP Calpine GP, LLC, By: ECP ControlCo, LLC, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, General Counsel
Date:	08/07/2026

ECP Calpine Rollover Fund, LP

Signature:	By: ECP Calpine Fund GP, LP, By: ECP Calpine GP, By: LLC, ECP ControlCo, LLC, By: /s/ Jennifer Gray
Name/Title:	Jennifer Gray, General Counsel
Date:	08/07/2026

Exhibit Information

Exhibit 99: Joint Filing Agreement (previously filed).