What data center-related load growth is FirstEnergy forecasting?

FirstEnergy reports rapidly growing data center demand, with cumulative contracted and pipeline load expected to reach 19,125 MW by 2035 . Contracted demand alone is projected at 5,605 MW by 2035, supported by strong interest from developers and hyperscale customers in its service territories.

FirstEnergy (NYSE: FE) reaffirms 2026 EPS guidance and $36B growth plan

Q: What did FirstEnergy (FE) reaffirm about its 2026 earnings outlook?

FirstEnergy reaffirmed 2026 Core EPS guidance of $2.62–$2.82 per share . The midpoint implies 8.8% growth over its original 2025 guidance midpoint, supporting the company’s view that strategic investments and regulatory plans can sustain earnings expansion through the mid-term.

Q: How large is FirstEnergy’s planned capital investment program for 2026–2030?

FirstEnergy outlines a $36 billion customer-focused investment plan for 2026–2030 . The plan is expected to drive about 10% rate base CAGR, with roughly 75% of projected spending recovered through formula-rate structures across its diverse regulated jurisdictions.

Q: What is the scale of FirstEnergy’s proposed Maidsville generation project?

The Maidsville proposal covers 1,200 MW of combined-cycle gas generation and 70 MW of utility-scale solar in West Virginia, totaling 1,270 MW . Estimated investment is $2.7 billion , and management expects limited long-term bill impact if approved and supported by favorable financing.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

FirstEnergy Corp. furnished an updated investor presentation outlining strategic, regulatory and growth initiatives while reaffirming its financial outlook. The company maintained 2026 Core EPS guidance of $2.62–$2.82 per share, with the midpoint representing 8.8% growth over its original 2025 guidance midpoint, and continues to target a Core EPS CAGR near the top end of 6–8% for 2026–2030.

FirstEnergy highlighted a $36 billion customer-focused investment plan for 2026–2030, supporting an expected 10% rate base CAGR, with about 75% of projected spending in formula-rate recovery mechanisms. A separate $6.0 billion investment plan is outlined for 2026.

Regulatory updates include an Ohio Three-Year Rate Plan proposing roughly $2.5 billion in distribution investments from July 2027 to June 2030, with annual residential bill impacts below 3%, and a West Virginia Inflation and Investment Adjustment that would increase revenues by $76 million in two steps in 2026 and 2027. The presentation also discusses strong data center-driven load growth, projecting total contracted and pipeline demand of 19,125 MW by 2035, and a proposed 1,270 MW generation project in West Virginia involving a combined-cycle gas plant and utility-scale solar, with estimated investment of $2.7 billion, subject to regulatory and financing approvals.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

2026 Core EPS guidance: $2.62–$2.82 per share Core EPS CAGR target: Near top end of 6–8% 2026–2030 investment plan: $36B +5 more

8 metrics

2026 Core EPS guidance $2.62–$2.82 per share Reaffirmed 2026 Core EPS guidance range

Core EPS CAGR target Near top end of 6–8% Targeted Core EPS growth for 2026–2030

2026–2030 investment plan $36B Customer-focused capital investment plan driving 10% rate base CAGR

2026 investment plan $6.0B Planned capital investments during 2026

Ohio TYRP capital investments ~$2.5B Planned distribution investments July 2027–June 2030

WV Inflation and Investment Adjustment $76M revenue increase Two $38M annual increases effective August 1, 2026 and June 1, 2027

Data center demand 2035 19,125 MW Cumulative contracted and pipeline FirstEnergy data center demand by 2035

Maidsville project investment $2.7B Total estimated cost for 1,200 MW CCGT and 70 MW solar in West Virginia

Key Terms

Core EPS, CAGR, Deferred Prosecution Agreement, CPCN, +2 more

6 terms

Core EPS financial

"Reaffirming 2026 Core EPS Guidance of $2.62-$2.82/sh"

Core EPS is a company’s reported earnings per share after removing one-time or unusual items so investors see the business’s regular profit per share; think of it as the household’s monthly income after ignoring a one-off inheritance or emergency expense. It matters because it highlights the company’s underlying, repeatable profitability and makes it easier to compare performance across periods and with other firms, though the adjustments can vary by company.

CAGR financial

"Reaffirming Long-Term Core EPS CAGR near the top end of 6-8%"

Compound Annual Growth Rate (CAGR) measures the average yearly growth of an investment, revenue, or other metric over a multi-year period as if it had grown at a steady rate each year. Think of it like the constant speed that would take you from the starting value to the ending value over the same time—useful because it smooths out ups and downs and lets investors compare different assets or performance periods on an even footing.

Deferred Prosecution Agreement regulatory

"compliance with or failure to comply with the Deferred Prosecution Agreement entered into July 21, 2021"

CPCN regulatory

"WV Generation CPCN: Advancing key contracts for major equipment, EPC, and gas supply"

A Certificate of Public Convenience and Necessity (CPCN) is an official permit from a government regulator that authorizes a company to build or operate major public infrastructure or utility services, such as power lines, pipelines, or transit projects. For investors, a CPCN matters because it clears a major legal and planning hurdle — like a building permit for a large project — and affects whether the project can proceed, how long it will take, and the likelihood of earning the expected returns.

Three-Year Rate Plan financial

"Ohio: On May 22, filed Three-Year Rate Plan for July 2027-June 2030 period"

Long-Term Infrastructure Improvement Plan regulatory

"LTIIP: Long-Term Infrastructure Improvement Plan"

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Understanding 8-K Material Events →

06/01/2026 - 07:55 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 1, 2026

Commission

Registrant; State of Incorporation;

I.R.S. Employer

File Number

Address; and Telephone Number

Identification No.

333-21011

FIRSTENERGY CORP

34-1843785

(An

Ohio

Corporation)

341 White Pond Drive

Akron

44320

Telephone

(800)

736-3402

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, $0.10 par value per share

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure

On June 1, 2026, FirstEnergy Corp. (“FirstEnergy” or the “Company”) published an updated investor presentation (the “Investor Presentation”), which, among other things, provides key strategic and regulatory updates.

The Investor Presentation is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. The Investor Presentation is available under the “Investor Relations” section of the Company’s website, located at investors.firstenergycorp.com. Website addresses are included as inactive textual references only. Information on the Company’s website is not, and will not be deemed to be, a part of this Current Report on Form 8-K or incorporated into any other filings the Company may make with the Securities and Exchange Commission. Important information may be disseminated initially or exclusively via the Company’s Investor Relations website; investors should consult the site to access this information.

The information set forth in and incorporated into this Item 7.01 of this Current Report on Form 8-K is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such a filing. The furnishing of this Item 7.01 of this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information herein that is required to be disclosed solely by reason of Regulation FD.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits


Exhibit No.						Description
99.1						Investor Presentation dated June 1, 2026
104						Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

Forward-Looking Statements: This Form 8-K includes forward-looking statements based on information currently available to management and unless the context requires otherwise, references to “we,” “us,” “our” and “FirstEnergy” refer to FirstEnergy Corp. and its subsidiaries. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms “anticipate,” “potential,” “expect,” "forecast," "target," "will," "intend," “believe,” "project," “estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the potential liabilities, increased costs and unanticipated developments resulting from government investigations and agreements, including those associated with compliance with or failure to comply with the Deferred Prosecution Agreement entered into July 21, 2021 and settlements with the U.S. Attorney’s Office for the Southern District of Ohio and the Securities and Exchange Commission (“SEC”); the risks and uncertainties associated with litigation, including the securities class action lawsuit, regulatory proceedings, arbitration, mediation and similar proceedings; changes in national and regional economic conditions affecting us and/or our customers and the vendors with which we do business, including geopolitical conflicts, recession, volatile interest rates, inflationary pressure, supply chain disruptions, higher fuel costs, and workforce impacts; variations in weather, such as mild seasonal weather variations and severe weather conditions (including events caused, or exacerbated, by climate change, such as wildfires, hurricanes, flooding, droughts, high wind events and extreme heat events) and other natural disasters, which may result in increased storm restoration expenses or material liability and negatively affect future operating results; the potential liabilities and increased costs arising from regulatory actions or outcomes in response to severe weather conditions and other natural disasters; legislative and regulatory developments, and executive orders, including, but not limited to, matters related to rates, generation resource adequacy, co-location of generation and large loads, and compliance and enforcement activity; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets, including the loss of FirstEnergy Corp.’s status as a well-known seasoned issuer; the risks associated with physical attacks, such as acts of war, terrorism, sabotage or other acts of violence, and cyber-attacks and other disruptions to our, or our vendors’, information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to accomplish or realize anticipated benefits through establishing a culture of continuous improvement and our other strategic and financial goals, including, but not limited to, executing Energize365, our transmission and distribution investment plan, executing on our rate filing strategy, controlling costs, improving credit metrics, maintaining investment grade ratings, strengthening our balance sheet and growing earnings; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts may negatively impact our forecasted growth rate, results of operations and may also cause it to make contributions to its pension sooner or in amounts that are larger than currently anticipated; changes in assumptions regarding factors such as economic conditions within our territories, the reliability of our transmission and distribution system, our generation resource planning in West Virginia, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; human capital management challenges, including among other things, attracting and retaining appropriately trained and qualified employees and labor disruptions by our unionized workforce; changes to environmental laws and regulations, including, but not limited to, federal and state rules related to climate change, coal combustion residuals, and potential changes to such laws and regulations; changes in customers’ demand for power, including, but not limited to, economic conditions, development of data centers, the impact of climate change and emerging technology, particularly with respect to electrification, energy storage, co-location of generation and large loads, and distributed sources of generation; future actions taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; the potential of non-compliance with debt covenants in our credit facilities; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to significant accounting policies; any changes in tax laws or regulations, including, but not limited to, the Inflation Reduction Act of 2022, the One Big Beautiful Bill Act of 2025, as signed into law on July 4, 2025, or adverse tax audit results or rulings and potential changes to such laws and regulations; the ability to meet our publicly-disclosed goals relating to climate-related matters, opportunities, improvements, and efficiencies, including FirstEnergy’s greenhouse gas reduction goals; and the risks and other factors discussed from time to time in FirstEnergy Corp.’s SEC filings. Dividends declared from time to time on FirstEnergy Corp.’s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by the FirstEnergy Corp. Board at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy Corp.’s Form 10-K, Form 10-Q and in other filings with the SEC. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.’s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy Corp. expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

June 1, 2026


			FIRSTENERGY CORP.
			Registrant


By:			/s/ Lisa A. Schultz
			Lisa A. Schultz Vice President and Assistant Controller

Focused on Our Future Spring Investor Update Published June 1, 2026

Forward-Looking Statements This presentation includes forward-looking statements based on information currently available to management and unless the context requires otherwise, references to “we,” “us,” “our” and “FirstEnergy” refers to FirstEnergy Corp. and its subsidiaries. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms “anticipate,” “potential,” “expect,” "forecast," "target," "will," "intend," “believe,” "project," “estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the potential liabilities, increased costs and unanticipated developments resulting from government investigations and agreements, including those associated with compliance with or failure to comply with the Deferred Prosecution Agreement entered into July 21, 2021 and settlements with the U.S. Attorney’s Office for the Southern District of Ohio and the Securities and Exchange Commission (“SEC”); the risks and uncertainties associated with litigation, including the securities class action lawsuit, regulatory proceedings, arbitration, mediation and similar proceedings; changes in national and regional economic conditions affecting us and/or our customers and the vendors with which we do business, including geopolitical conflicts, recession, volatile interest rates, inflationary pressure, supply chain disruptions, higher fuel costs, and workforce impacts; variations in weather, such as mild seasonal weather variations and severe weather conditions (including events caused, or exacerbated, by climate change, such as wildfires, hurricanes, flooding, droughts, high wind events and extreme heat events) and other natural disasters, which may result in increased storm restoration expenses or material liability and negatively affect future operating results; the potential liabilities and increased costs arising from regulatory actions or outcomes in response to severe weather conditions and other natural disasters; legislative and regulatory developments, and executive orders, including, but not limited to, matters related to rates, generation resource adequacy, co-location of generation and large loads, and compliance and enforcement activity; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets, including the loss of FirstEnergy Corp.’s status as a well-known seasoned issuer; the risks associated with physical attacks, such as acts of war, terrorism, sabotage or other acts of violence, and cyber-attacks and other disruptions to our, or our vendors’, information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to accomplish or realize anticipated benefits through establishing a culture of continuous improvement and our other strategic and financial goals, including, but not limited to, executing Energize365, our transmission and distribution investment plan, executing on our rate filing strategy, controlling costs, improving credit metrics, maintaining investment grade ratings, strengthening our balance sheet and growing earnings; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts may negatively impact our forecasted growth rate, results of operations and may also cause it to make contributions to its pension sooner or in amounts that are larger than currently anticipated; changes in assumptions regarding factors such as economic conditions within our territories, the reliability of our transmission and distribution system, our generation resource planning in West Virginia, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; human capital management challenges, including among other things, attracting and retaining appropriately trained and qualified employees and labor disruptions by our unionized workforce; changes to environmental laws and regulations, including, but not limited to, federal and state rules related to climate change, coal combustion residuals, and potential changes to such laws and regulations; changes in customers’ demand for power, including, but not limited to, economic conditions, development of data centers, the impact of climate change and emerging technology, particularly with respect to electrification, energy storage, co-location of generation and large loads, and distributed sources of generation; future actions taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; the potential of non-compliance with debt covenants in our credit facilities; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to significant accounting policies; any changes in tax laws or regulations, including, but not limited to, the Inflation Reduction Act of 2022, the One Big Beautiful Bill Act of 2025, as signed into law on July 4, 2025, or adverse tax audit results or rulings and potential changes to such laws and regulations; the ability to meet our publicly-disclosed goals relating to climate-related matters, opportunities, improvements, and efficiencies, including FirstEnergy’s greenhouse gas reduction goals; and the risks and other factors discussed from time to time in FirstEnergy Corp.’s SEC filings. Dividends declared from time to time on FirstEnergy Corp.’s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by the FirstEnergy Corp. Board at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward- looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy Corp.’s Form 10-K, Form 10-Q and in other filings with the SEC. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.’s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy Corp. expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise. Spring Investor Meetings - June 20262

Non-GAAP Financial Matters 3 This presentation contains references to certain forward-looking financial measures, including Core Earnings per share (“Core EPS”), which are “non-GAAP financial measures,” and are not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and exclude the impact of “special items” as described below. Management uses non-GAAP financial measures to evaluate the company’s and its segments’ performance, and manage its operations and references non-GAAP financial measures in its decision- making, using them to facilitate historical and ongoing performance comparisons. Management believes that non-GAAP financial measures of Core EPS, including by segment, provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results, excluding the impacts described above, that may not be consistent or comparable across periods or across the company’s peer group. These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures, which for Core EPS is EPS attributable to FirstEnergy Corp. Also, such non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure, trends useful in evaluating the company’s ongoing core activities and results of operations, or otherwise warrant separate classification. Special items include the following: (i) Net Pension/OPEB credits, which reflect net periodic pension and OPEB benefit costs and credits, excluding amounts recovered through formula rates and (ii) investigation and other related costs, which primarily reflect legal and advisory expenses related to government investigations. Core EPS is calculated based on the weighted average number of common shares outstanding in the respective period. A reconciliation of forward-looking non-GAAP measures, including 2026 Core EPS, and Core EPS compound annual growth rate (“CAGR”) projections, to the most directly comparable GAAP measures is not provided because comparable GAAP measures are not available without unreasonable efforts due to the inherent difficulty in forecasting and quantifying measures that would be necessary for such reconciliation. Specifically, management cannot, without unreasonable effort, predict the impact of these special items in the context of Core EPS guidance, or Core EPS growth rate projections because these items, which could be significant, are difficult to predict and may be highly variable. In addition, the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. These special items are uncertain, depend on various factors and may have a material impact on our future GAAP results. Spring Investor Meetings - June 2026

Key Messages Spring Investor Meetings - June 20264 ■ Key Strategic and Regulatory Updates ➢ WV Base Rates: Pursuing Inflation and Investment Adjustment with 4.75% increase effective August 1, 2026, followed by second increase of 4.50% on June 1, 2027(1) ➢ WV Generation CPCN: Advancing key contracts for major equipment, EPC, and gas supply for Maidsville Energy Center ➢ Additional WV Generation: Discussions indicate strong interest / support from Hyperscalers / Developers / State ➢ Ohio: On May 22, filed Three-Year Rate Plan for July 2027-June 2030 period; Proposed 15% increase in investments ➢ Data Centers: 32% increase in contracted demand; Up to 5.6 GW, with additional contracts near completion ■ Diverse jurisdictions / regulatory frameworks provide flexibility and additional opportunities for capital deployment ■ Reaffirming 2026 Core EPS(2) Guidance of $2.62-$2.82/sh ➢ Midpoint represents 8.8% growth over Original 2025 guidance midpoint ■ Reaffirming Long-Term Core EPS(2) CAGR near the top end of 6-8% (2026-2030) (2) The Company is unable to reconcile this forward-looking non-GAAP information without unreasonable efforts. Please see slide 3 for more information. Solid progress on key strategic and regulatory initiatives We remain confident in our 2026-2030 outlook and are exploring additional investment opportunities (1) Percentages represent increases in base revenues

FirstEnergy Overview Spring Investor Meetings - June 20265 As we execute safely, efficiently and with integrity, our customers, employees and investors thrive Regulated Fossil Generation plants Regulated Renewable Generation plants Constructive Regulatory Strategy with 75% of Investments in Formula Rates Focused on Operational Excellence and Financial Discipline Ideally Situated Service Territory to Support Unprecedented Growth We invest in and operate our electric system to improve reliability and the customer experience, and to enable the digital transformation Diversified, Customer Focused, Organic Growth Opportunities $4.5, 15% $7.7, 26% $5.8, 20% $5.4, 18% $6.0, 21%OH PA NJ WV/MD Balanced Jurisdictions 2026F FE-Owned Rate Base ($B) Stand-Alone Transmission Integrated (1) Distribution $29.4B (1) Integrated segment includes Transmission Rate Base of $2.9B

Solid Execution and Strong Start to 2026 Spring Investor Meetings - June 20266 We remain focused on delivering against our commitments to our customers and investors REAFFIRMING 2026 GUIDANCE $6.0B Investment Plan $2.62-$2.82/sh Core EPS(1) Guidance 6-8% Near the Top End of Core EPS(1) CAGR (2026-2030) REAFFIRMING 2026-2030 PLAN (1) The Company is unable to reconcile this forward-looking non-GAAP information without unreasonable efforts. Please see slide 3 for more information. Consistent regulatory strategy Customer-focused investment plan Strong financial discipline $36B 5-Year Investment Plan

Regulatory Updates Spring Investor Meetings - June 20267 CPCN Filing • Hearings scheduled for mid-July; expect regulatory approval in 2H 2026 • Advancing key contracts for major equipment, EPC, and gas supply • Long-term financial plan expected to be updated following approval • MP and PE-WV filed traditional BRC and Alternative Approach on May 15, 2026 • WV PSC ordered MP and PE-WV to move forward with alternative approach (Inflation and Investment Adjustment) and set hearing date for July 9 • Proposed revenue increase of $76M in two phases, resulting in avg. residential bills increases of 3.0% on August 1, 2026, and 2.9% on June 1, 2027 Three-Year Rate Plan • OE, CEI, and TE filed on May 22, 2026, for the July 2027 - June 2030 period • Proposed revenue increase of $254M / $59M / $80M (Years 1 / 2 / 3) • Proposed total capital investments of ~$2.5B; up to ~$400M of additional investment vs. current investment plan • Avg. annual residential customer bill impacts below 3% • Final order due within 360 days after filing is determined complete West Virginia Ohio Base Rate Case 1.2 GW Maidsville Energy Center (Gas CCGT), 70 MW Solar See Appendix (slides 12-14) for additional details Additional Generation Opportunity • Significant interest from data center developers and hyperscalers • Total contracted and pipeline demand of 1.8 GW, with additional interest of 6+ GWs not yet in pipeline

Data Center Overview 8 (1) Represents TTM 1Q26 Detailed Load Studies (DLS) / Conceptual Load Studies (CLS) greater than 500 MWs, not contracted or included in FE pipeline 2 0 2 6 F 2 0 3 1 F 2 0 3 5 F 2,205 4,755 5,605 6,930 13,520 Contracted Pipeline 19,125 11,685 FE: Cumulative Data Center Demand We are uniquely positioned to take advantage of data center growth, both in our service territory and across the region (MW) Additional 1.35 GWs of Contracted demand by 2035 up 32% since 1Q26 (4.3 GW) and nearly doubled since Feb. 2025 (2.9 GW) – Contracted represents a contract to construct facilities and/or an electric service agreement – ~$250M of transmission network upgrades for each 1 GW Data Center Demand – By State (MW) 2026F 2031F 2035F OH Contracted 900 2,010 2,010 Pipeline - 1,965 5,000 Total 900 3,975 7,010 PA Contracted 275 495 495 Pipeline - 1,350 2,700 Total 275 1,845 3,195 MD Contracted 825 1,980 2,830 Pipeline - 1,455 2,535 Total 825 3,435 5,365 WV Contracted 190 190 190 Pipeline - 630 1,610 Total 190 820 1,800 NJ Contracted 15 80 80 Pipeline - 1,530 1,675 Total 15 1,610 1,755 FE Contracted 2,205 4,755 5,605 Pipeline - 6,930 13,520 Total 2,205 11,685 19,125 1 67 27 Requested In-Process Completed Potential Additions (Not in Pipeline) Load Studies (GW) (1) 95 Spring Investor Meetings - June 2026 +500 MW since 1Q26 +1,350 MW since 1Q26

Diverse Jurisdictions Provide Flexibility for Capital Deployment ■ 2026-2030 Investment plan resulted in significant increases in capex across all business units ■ As policies and regulations change, our diversity – jurisdictional and regulatory frameworks – allow for flexibility in capital deployment ■ Pennsylvania: – New PA base rates effective 2025; no near-term plan to file a base rate case – Leveraging LTIIP: 67% of 2026 capex in LTIIP versus 33% in 2025 – Assessing capital allocation to address evolving regulatory landscape and additional investments in other jurisdictions such as: – Ohio TYRP Dx investments – Tx investments for contracted data centers Spring Investor Meetings - June 20269 $B LTIIP: Long-Term Infrastructure Improvement Plan FE’s scale and regulatory diversity provides flexibility to shift investments to efficiently deploy capital for the benefit of customers OH, $3.1 PA, $4.3 NJ, $6.2 WV/MD, $4.6 Stand-Alone Tx, $9.5 2025-2029 Investment Plan $28B OH, $3.6 PA, $6.7 NJ, $6.9 WV/MD, $5.8 Stand-Alone Tx, $12.7 2026-2030 Investment Plan $36B+$8B (~30%)

Shareholder Value Proposition Spring Investor Meetings - June 202610 (1) The Company is unable to reconcile this forward-looking non-GAAP information without unreasonable efforts. Please see slide 3 for more information. Our diversified service territory, low-risk investment plan and a strong affordability position, provides the opportunity to significantly enhance the customer experience and provide attractive risk-adjusted returns to our investors • Constructive regulatory frameworks with strong relationships that support ongoing collaboration • Diversified and low-risk T/D/G assets with a focus on affordability • Focused on delivering on our commitments, supporting customers and investors • Total shareholder return opportunity of ~12%, with upside potential • Committed to dividend growth in line with 60%-70% payout ratio of Core EPS • $36B Customer-focused Investment Plan (2026-2030), driving 10% Rate Base CAGR – 75% of projected investments in formula-rate recovery, reducing regulatory lag • Expect to deliver near the top end of 6-8% Core EPS(1) CAGR through 2030 • Targeting ~14% FFO/Debt; Committed to maintaining BBB/Baa2 credit profile • Strategic mix of cash from ops, debt and modest equity to fund growth • Focused on continuous improvement and financial discipline

Appendix Spring Investor Meetings - June 202611 12. Ohio Three-Year Rate Plan 13. WV Base Rate Case Filing 14. WV CPCN and Siting Certificate Filing Slide

Ohio Three-Year Rate Plan Filed 5/22/26 (Case No: 26-0347-EL-AIR) Filing Summary Three-Year Rate Plan (TYRP) supports transparent recovery of distribution system investments needed to provide safe and reliable service to customers. Key Components ■ Capital recovery through base rates, including: – Increased distribution rate base of $1.1B since 2024 Base Rate Case filing – Total planned capital investments of ~$2.5B from July 2027-June 2030 to address aging infrastructure and improve reliability – Up to ~$400M of additional investment vs. current investment plan – Results in forecasted rate base growth of 8.2% vs. 7.7% in current plan ■ Focused on improving customer reliability through strengthened vegetation management program (~$83M/year vs. ~$50M/year under current rates) by proactively targeting high-risk vegetation ■ Increased storm cost recovery and higher maintenance work ■ Expanded bill-payment assistance and emergency programs for eligible low- income residential customers; residential energy efficiency programs; non- residential demand response program ■ Existing distribution cost recovery riders moved into base rates and set riders to zero going forward ■ Final order due within 360 days after filing is determined complete (1) TYRP Rate Base uses 13-month average rate base and compares to 2026F of $4.5B. Amounts exclude Regulatory Assets of ~$0.4B-$0.6B. (2) Test Year is calendar year 2024, Date Certain used to value rate base is 5/31/2024. (3) “Net Revenue Increase” represents the Test Year net impact of increasing base distribution rates and decreasing riders that are reset when the costs are moved into base distribution rates. Key Statistics Filed Current Distribution Rate Base(1) $5.1B (Year 1) $5.5B (Year 2) $5.9B (Year 3) $4.0B Return on Equity 10.2% 9.63% Cap Structure (Debt / Equity) ~47% / ~53% 48.8% / 51.2% Test Year(s) July 2027 - June 2030 2024(2) Rates Effective Date 7/1/27 3/1/26 Net Revenue Increase(3) $254.0M (Year 1) $58.8M (Year 2) $79.5M (Year 3) Average annual residential customer bill impacts below 3% during the Three-Year Rate Plan Spring Investor Meetings - June 202612

WV Base Rate Case Filing Filed 5/15/26 (Case No: 26-0508-E-42T) 13 Key Statistics of Base Rate Case Proposed Current Rate Base $4.3B(1) $3.2B(1) Return on Equity 10.85% 9.80% Cap Structure (Debt / Equity) 45.5% / 54.5% 50.4% / 49.6% Test Year 2025 2022 Key Components of Base Rate Case ■ Proposed revenue increase of $188M, representing an average total increase of 10.6% and an average residential increase of 13.9% ■ Ability to roll-in the Effluent Limitation Guidelines and Standards Surcharge and the Renewable Electricity Surcharge to base rates ■ A Reliability and Infrastructure Investment program Surcharge to recover costs related to projects for grid modernization, grid resiliency and joint use ■ Filed for rates to be effective March 2027 (10-month statutory timeline) Filing Summary Proposed rate adjustment that supports distribution, transmission and generation investments. An alternative rate increase approach has also been filed to better address affordability for customers. (1) Includes Distribution, Generation, and Transmission Alternative Approach to Base Rate Case ■ To address affordability, MP and PE-WV proposed an Inflation and Investment Adjustment resulting in a revenue increase of $76M, with a $38M annual increase effective August 1, 2026, and a $38M annual increase effective June 1, 2027. This alternative approach is aligned with a recent WV order issued in April 2026. – Average residential bills, under this approach, would increase 3.0% on August 1, 2026, and 2.9% on June 1, 2027 ■ MP and PE-WV agree to not file a base rate case until April 2028 and will withdraw its pending base rate case upon approval of this approach Spring Investor Meetings - June 2026

MP and PE-WV CPCN and Siting Certificate Filing Filed 2/13/26 (Docket Number: 26-0108-E-CN) Spring Investor Meetings - June 202614 (1) Class Level 4 Cost Estimate (2) Utility-scale solar to be located at the Davis, Wylie Ridge, and Valley Point locations (3) Based on 50% debt funding Key Statistics Total (CCGT / Solar) Capacity 1,270 MW (1,200 / 70) Total Investment(1) $2.7B ($2.5B / $0.2B) Contract Model Engineer, Procure, Construct (EPC) Location Maidsville, WV (CCGT) Various in WV(2) (Solar) Operational Date 12/31/2031 (CCGT), 2027-2030 (Solar) MP Cap Structure 50% Debt / 50% Equity MP Allowed ROE 9.8% Key Components ■ Requested expedited treatment from PSC to approve appropriate ratemaking recognition for capital and operational costs ■ Proposed new generation surcharge designed to: – Cash recovery of AFUDC on CWIP while the projects are under development / construction – Transition to recovery in base rates once the projects are placed in-service and approved through a base rate case ■ Filed for abandonment, which would allow MP and PE to recoup prudently incurred costs for a project or asset that is canceled, abandoned, or stranded due to factors beyond their control ■ Proposed fuel strategy to seek competitive bids for long-term gas supply contract with costs recovered through the annual ENEC filing ■ Seeking low interest loan with the Department of Energy (DOE) – If approved, could provide customer savings of more than $200M over the 30-yr term(3) ■ Once in service, the impact of the project to customer rates is expected to be minimal Filing Summary MP and PE-WV filing on 2/13/26 for approval to build 1,200 MW Siemens H / HL technology combined cycle gas turbine (CCGT) in Maidsville, West Virginia, and 70 MW of utility scale solar(2) across 3 locations in West Virginia $70 $315 $570 $655 $550 $385 $115 2026 2027 2028 2029 2030 2031 2032 Proposed Investment Plan by Year ($M) CCGT Solar Next Steps ▪ Expect CPCN and DOE loan approval in 2H26 ▪ Finalize long lead time equipment contract terms and begin negotiations with EPC providers ▪ Issue RFP for gas supply(Rounded to nearest $5M) This represents incremental investment opportunity that is not embedded in plan and would be additive to plan upon WVPSC approval (which is expected second half of 2026)

Source: View Original Filing on SEC EDGAR

FAQ

What did FirstEnergy (FE) reaffirm about its 2026 earnings outlook?

FirstEnergy reaffirmed 2026 Core EPS guidance of $2.62–$2.82 per share. The midpoint implies 8.8% growth over its original 2025 guidance midpoint, supporting the company’s view that strategic investments and regulatory plans can sustain earnings expansion through the mid-term.

What long-term earnings growth is FirstEnergy (FE) targeting through 2030?

FirstEnergy is targeting a Core EPS compound annual growth rate near the top end of 6–8% for 2026–2030. Management links this outlook to its large regulated investment program, constructive regulatory frameworks, and focus on formula-rate mechanisms that reduce regulatory lag.

How large is FirstEnergy’s planned capital investment program for 2026–2030?

FirstEnergy outlines a $36 billion customer-focused investment plan for 2026–2030. The plan is expected to drive about 10% rate base CAGR, with roughly 75% of projected spending recovered through formula-rate structures across its diverse regulated jurisdictions.

What are the key elements of FirstEnergy’s Ohio Three-Year Rate Plan?

In Ohio, FirstEnergy filed a Three-Year Rate Plan covering July 2027–June 2030 with planned capital investments of about $2.5 billion. Proposed net revenue increases are $254 million, $58 million and $79 million in Years 1–3, with average annual residential bill impacts kept below 3%.

How is FirstEnergy (FE) addressing rates and affordability in West Virginia?

FirstEnergy’s West Virginia utilities proposed an Inflation and Investment Adjustment that would raise revenues by $76 million, via $38 million annual increases effective August 1, 2026 and June 1, 2027. This alternative approach is intended to phase in needed investments while moderating customer bill impacts.

What is the scale of FirstEnergy’s proposed Maidsville generation project?

The Maidsville proposal covers 1,200 MW of combined-cycle gas generation and 70 MW of utility-scale solar in West Virginia, totaling 1,270 MW. Estimated investment is $2.7 billion, and management expects limited long-term bill impact if approved and supported by favorable financing.

Filing Exhibits & Attachments

18 documents