Exelon Corporation - EXC STOCK NEWS

Delmarva Power is partnering with the University of Delaware and Exelon to promote Electric Vehicle (EV) adoption and demonstrate how EVs can strengthen the electric grid. The initiative aims to showcase the benefits of EVs, including:

• Cost-effectiveness: EV operation can be three to five times cheaper than gasoline and diesel-powered cars
• Improved driving experience: EVs deliver a quiet, smooth ride
• Lower maintenance requirements
• Potential to utilize stored power during high demand periods

Delmarva Power is committed to electrifying their fleet and expanding charger access across the region to facilitate widespread EV adoption. This effort is expected to make clean energy more accessible and contribute to a more reliable energy infrastructure.

Delmarva Power is highlighting its partnership with Historical Black Colleges and Universities (HBCUs) during HBCU Week. The company works closely with University of Maryland Eastern Shore (UMES) and Delaware State University (DSU) to provide programming, financial support, and career opportunities for students.

Key aspects of the partnership include:

• Power Scholar programs offering scholarships, internships, and mentorship
• Campus events to promote energy industry job opportunities
• Summer internships to help students transition into the workforce
• Funding for university improvements and program expansion
• The Delmarva Power Golf Scholarship Classic, which has raised over $100,000 annually for local universities in recent years

The partnership aims to build a diverse energy workforce of the future, providing students with access to careers in the energy sector while benefiting Delmarva Power with well-educated, diverse talent.

Exelon (Nasdaq: EXC) has deployed over 600 field and support personnel to aid in power restoration efforts in Florida following Hurricane Milton. This deployment comes shortly after sending hundreds of crews to assist with Hurricane Helene recovery. Crews from all six Exelon utilities - Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco - are participating in the restoration efforts.

Mike Innocenzo, executive VP and COO at Exelon, emphasized the industry's tradition of mutual assistance during severe weather events. Exelon is investing $35 billion over the next few years to modernize and strengthen the grid, aiming to improve resilience against future storms. The company, a member of the Edison Electric Institute, has a history of responding to calls for mutual assistance, including deployments for Hurricanes Ian (2022) and Idalia (2023).

ComEd has launched a new Go Electric website to help customers consider switching from traditional furnaces to electric heat pumps. The site provides comprehensive information on heat pump benefits, pricing, incentives, and contractor locating. Heat pumps offer both heating and cooling capabilities, moving heat rather than generating it, resulting in a cleaner and more efficient process.

The Go Electric site features a heat pump 101 section, options comparison, personalized savings calculator, information on incentives and financing, and a contractor finder. ComEd is supporting customers in their transition to clean energy technologies by ensuring grid readiness for increased electrification and offering tools to ease the journey.

Heat pump adoption is seen as a key strategy for reducing greenhouse gas emissions and addressing climate change. ComEd has expanded its heat pump discounts, offering up to $1,400 per customer for purchasing and installing a new air source heat pump. In 2023, ComEd awarded over 5,000 heat pump discounts, with more than 10,000 discounts provided since 2021.

ComEd has announced the opening of applications for its Future of Energy Scholars program, offering $175,000 in scholarships to students pursuing careers in energy through trades training or STEM-related college majors. Scholarships range from $1,000 to $10,000 each, with applications open until November 3, 2024.

The program aims to support a diverse talent pipeline for the clean energy industry, offering up to $10,000 for college STEM programs and up to $2,500 for trades schools. Since 2022, ComEd has awarded nearly $860,000 in scholarships, reaching a diverse mix of students, including many female scholars.

This initiative aligns with the growing clean energy job market, which saw a 4% increase in 2023. In Illinois alone, the clean energy transition is expected to create up to 150,000 new jobs by 2050. To qualify, students must be enrolled in eligible programs, maintain a 2.8 GPA, and submit an application with references.

ComEd announced the Point of Purchase initiative at the Chicago Drives Electric event, offering instant discounts to qualifying business and public sector customers for electric fleet vehicles. This initiative, part of ComEd's nearly $90 million in EV funding for 2024, aims to accelerate EV fleet adoption in northern Illinois. The program involves collaboration with over 30 auto dealerships and various EV manufacturers.

The initiative builds on ComEd's existing EV rebate program, which reserves nearly half of all funds for low-income customers and those in equity investment eligible communities. Rebates range from $5,000 to $180,000 depending on vehicle type. This effort supports Illinois' goal of putting 1 million EVs on the road by 2030, as outlined in the Climate and Equitable Jobs Act (CEJA).

ComEd, in partnership with community agencies, has made $80 million in grants available to 186,000 customers so far this year. The company is urging customers to take advantage of the Low Income Home Energy Assistance Program (LIHEAP) and ComEd's own bill-assistance programs. LIHEAP is now accepting applications, prioritizing vulnerable groups until November 1, when all income-eligible households can apply.

ComEd offers various support options, including payment arrangements, budget billing, deposit waivers, and energy-efficiency programs. In 2022, ComEd connected over 198,000 eligible customers to more than $94 million in financial assistance. The company's Smart Assistance Manager (SAM) tool helps customers find programs they may qualify for at ComEd.com/SAM.

ComEd has made significant progress in electrifying 450 low-income homes across northern Illinois through its Whole Home Electric program. The initiative, launched in 2022 with a $40 million investment, aims to reduce fossil fuel reliance, lower energy costs, and decrease carbon emissions for vulnerable communities. The program has electrified 180 single-family and 270 multi-family homes, with upgrades provided at no cost to qualifying customers.

Participating homes are estimated to reduce emissions by 2,500 metric tonnes of CO2 annually and save customers up to $500 per year on energy bills. The program supports Illinois' Climate and Equitable Jobs Act (CEJA) goals and targets communities historically impacted by air pollution. ComEd collaborates with partners like Elevate and Bickerdike Redevelopment to implement these upgrades, which include installing heat pumps, electric appliances, and weatherization improvements.

ComEd and the League of Chicago Theatres have awarded over $200,000 in grants to 18 local arts organizations through the seventh annual Powering the Arts Program. The initiative aims to expand access to arts and culture across northern Illinois, providing individual grants of up to $25,000 to nonprofits, including theaters, arts programs, cultural centers, and youth-focused organizations.

Since its inception in 2018, the program has contributed more than $1 million to creative projects and workshops. ComEd funds the initiative, while the League of Chicago Theatres manages the application review and award distribution process. This year's recipients represent a wide array of artistic disciplines, from children's art programs and music education to cultural dance and theater, supporting nearly 100 arts organizations throughout its history.