PPL enters forward contracts to sell 27.4M shares at ~$35.90, raising ~$984M

PPL Corp

Entered forward contracts on Aug 8 and Aug 11, 2025 for 27.4M shares at blended initial forward price of $35.90/share.
Expected net proceeds approximately $984M upon physical settlement; contracts settle by Dec 30, 2026 and Aug 11, 2027.
Since Feb 2025, total forward contracts under ATM program ~$1.4B, derisking $2.5B equity need through 2028.
Previously disclosed $400M in forward contracts from inception (Feb 2025) through Aug 6, 2025, settling by Dec 30, 2025.
PPL may elect physical, net share, or net cash settlement; classified as equity transactions.

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