PPL settles 11.3M shares of forward agreements, raises $400M in equity

PPL Corp

Physically settled approx 11.3M shares of common stock on Dec 29, 2025 for $400M net proceeds.
Original forward agreements totaled ~38.7M shares ($1.4B); 27.4M shares ($1.0B) remain unsettled.
Remaining forward agreements mature by Dec 30, 2026 and Aug 11, 2027 respectively.
Settlement under existing Equity Distribution Agreement and Master Forward Confirmations from Feb 2025.

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