Constellation Energy (CEG) 8-K Regulation FD Disclosure

• • • • • • •

• • • • • • • • • • • • • • • • • • •

• • • • • •

• • • • • •

• • • •

➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢

✓ ▪ ▪ ▪ ▪ ▪ ✓ ▪ ▪ ✓ •

• • – • – • • • • • • • •

▪ ▪ ▪ ▪

▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Nuclear fuel is ~20% of operating costs and uranium is 40% of fuel costs

• • • • •

• • •

• • •

• • • •

• • • • • • •

2017 20182016 2019 2020 200 210 210 210 215 20202016 20192017 2018

•• • • • • • • •

Constellation’s focus on efficiencies and cost reduction, while ensuring safety and operational excellence, will support free cash flow generation ▪ ▪

• • • • • •

• • • • • • • • – – • • • • • • • • •

▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪

June ’17 May ‘27 April ’17 March ‘29 June ’22 May ‘25 • • • • • • • • April ’17 March ‘29 April ’17 March ‘29 June ’17 May ‘27

• • • • • • – – – •

• • •

© 2020 Constellation Energy Resources, LLC. The offerings described herein are those of either Constellation NewEnergy-Gas Division, LLC or Constellation NewEnergy, Inc., affiliates of each other and ultimate subsidiaries of Exelon Corporation. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved. Errors and omissions excepted. • • • • • • • • •

• • • • • • • • • • • •