CMS ENERGY CORPORATION 2024 Annual Meeting of Shareholders
Garrick Rochow
May 3, 2024
Our Purpose
People Planet Profit
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Investment Thesis . . .
✓
Industry-leading net zero commitments
Strong Cash Flow & Balance Sheet
Attractive &
Diversified Territory
Clean Energy
Leader
Affordable
Prices
Infrastructure
Renewal
Constructive
Legislation
✓
Excellence through the
✓
Top-tier regulatory jurisdictiona
Over two decades of industry-leading
financial performance
6% to 8% adjusted EPS growth + ~3% dividend yield
aRRA state regulatory energy rankings, May 2023. Regulatory Research Associates, a group within S&P Global Commodity Insights
. . . is simple, clean and lean. 3
People
- >50% reduction in high-risk safety incidents
- Recognized by…
- Department of Defense: Freedom Award, highest honor, supporting employees in Guard and Reserves
- Top US Utility 2023 Corporate Religious Equity, Diversity & Inclusion (REDI) Index
- ~$125M of customer assistance to help keep bills affordable
- Filed $7B Electric Reliability Roadmap
- 5-Yearpathway to improve reliability and resiliency of the electric system for our customers
Named TRENDSETTER
company by CPA-Zicklin
Index for corporate
political disclosure and
accountability
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Planet
- New clean energy legislation that sets a path for 100% clean energy in Michigan and supports our industry- leading Clean Energy Transformation
- 60% renewables by 2035 & 100% clean energy by 2040
- Enhanced financial compensation on purchase power agreements
- Increased energy efficiency incentives
- Retired two coal plants, acquired one existing natural gas plant, and built 201MW of renewable energy further reducing our carbon emissions.
- >$250M of gas infrastructure replacement - improving safety and reducing >530MT of methane
- Large customer renewable subscriptions exceed expectations and drive renewables build (subscriptions have grown by >460MW)
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Profit
- Over two decades of industry-leading financial performance
- Delivered year-end adjusted EPS of $3.11b - toward the high end of the guidance range
- Increased annual dividend per share to $2.06 - 18th increase in as many years
- $79M of cost savings by leveraging the CE Way
- ~360 MW of new or expanding load - adding 5,000 jobs and ~$6B of investment to Michigan
- Consumers Energy Foundation, Consumers Energy and our co-workers and retirees contributed more than $11 million to Michigan non-profits
b Reconciliations to GAAP are on CMS Energy's website: www.cmsenergy.com
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CMS ENERGY CORPORATION
Reconciliation of GAAP Net Income to Non-GAAP Adjusted Net Income
(Unaudited)
CMS Energy provides historical financial results on both a reported (GAAP) and adjusted (non-GAAP) basis and provides forward-looking guidance on an adjusted basis. During an oral presentation, references to "earnings" are on an adjusted basis. All references to net income refer to net income available to common stockholders and references to earnings per share are on a diluted basis. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, business optimization initiative, changes in accounting principles, voluntary separation program, changes in federal tax policy, regulatory items from prior years, or other items. Management views adjusted earnings as a key measure of the company's present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the company uses adjusted earnings to measure and assess performance. Because the company is not able to estimate the impact of specific line items, which have the potential to significantly impact, favorably or unfavorably, the company's reported earnings in future periods, the company is not providing reported earnings guidance nor is it providing a reconciliation for the comparable future period earnings. The adjusted earnings should be considered supplemental information to assist in understanding our business results, rather than as a substitute for the reported earnings. This meeting presentation contains "froward-looking statements," please refer to our SEC filings for information regarding the risks and uncertainties that could cause our results to differ materially.
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Disclaimer
CMS Energy Corporation published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2024 17:45:04 UTC.
