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DTE Energy
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December 2023 Business Update Presentation
| Jerry Norcia | Page 4 of 11 |
May 09, 2024
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"December 2023 Business Update Presentation"
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1.2% 5.3% 6.5% DTE Electric Great Lakes average National average 4 Customer-focused capital investments support building the grid of the future and cleaner energy transition ? Constructive electric rate order supports customer-focused investments ? Distribution Grid Plan (DGP), new energy policy and Integrated Resource Plan (IRP) outline acceleration of reliability improvement and transition to cleaner generation ? Distinctive culture of managing costs and Inflation Reduction Act (IRA) underpin customer affordability Utility investment and affordability commitment support long-term growth ? Increasing 5-year utility capital investment by $2 billion over previous plan ? Long-term operating EPS 1 growth rate target of 6% - 8% through 2028, with 2023 original guidance midpoint as the base ? 2024 operating EPS early outlook provides 7% growth from 2023 original guidance midpoint ? 2024 annualized dividend of $4.08 per share is in line with operating EPS growth ? Strong balance sheet and solid investment-grade credit profile support capital investment plan Significant utility investment improves reliability and provides cleaner generation, while maintaining affordability 1. Reconciliation of operating earnings (non-GAAP) to reported earnings included in the appendix 2. Subject to Board approval ~$25 billion DTE Electric DTE Gas DTE Vantage $20 $3.7 $1.0 - $1.5 95% of 5-year investment plan in utilities 2024 - 2028 (billions) 10-year investment plan of over $50 billion Bill increase well below national average Average annual residential bill growth since 2020