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VISTRA $VST Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $6.35B (Est. $6.02B) 🟢; +28% YoY 🔹 Adj. EBITDA: $2.36B (Est. $2.14B) 🟢; +51% YoY 🔹 Ongoing Ops Adj. EBITDA: $2.38B 🔹 Net Income: $1.14B Raises FY26 Guide: 🔹 Ongoing Ops Adj. EBITDA: $7.1B-$7.5B 🔹 Ongoing Ops Adj. FCFbG: $4.3B-$4.7B FY27 Guide: 🔹 Ongoing Ops Adj. EBITDA: $7.7B-$8.5B 🔹 Ongoing Ops Adj. FCFbG: $4.3B-$5.1B Segment Adjusted EBITDA: 🔹 Retail: $98M; +165% YoY 🔹 Texas: $1.23B; +57% YoY 🔹 East: $979M; +36% YoY 🔹 West: $76M; +21% YoY Announcements: 🔹 Cogentrix: acquired ~5,500 MW of natural gas generation 🔹 Pulaski: 405 MW facility commenced operations 🔹 Deer Creek: 100 MW facility commenced operations 🔹 Odessa: 20-year, 207 MW PPA signed Key Updates: 🔹 Unrealized hedge gain: $559M expected to settle in future years 🔹 Share repurchases: $1.5B additional authorization; ~$2.5B remains Comments: 🔸 “That effort shows in our results, with Ongoing Operations Adjusted EBITDA up more than 50% year over year. This summer brought record weather across our markets, including the new all-time peak demand records in July in both ERCOT and PJM. Through that period, our fleet achieved commercial availability of nearly 95%.” — Jim Burke, president and CEO 🔸 “We also made significant progress on our growth strategy this quarter. We began commercial operations at our Pulaski and Deer Creek facilities, and signed a 20-year agreement with New Era at our Odessa plant. As the power landscape evolves, we continue to see more of these opportunities.” — Jim Burke, president and CEO