Capital Expenditures Expectations as of December 31, 2025 (1)
Note: All amounts rounded to the nearest $25M. Items may not sum due to rounding.
(1) Reflects cash CapEx for Power at 100% ownership
Long-Term Debt Maturity Profile as of March 31, 2026 (1) ($M)
Note: Items may not sum due to rounding
(1) Maturity profile excludes subsidiary debt, corporate term loans, P-cap facility, securitized debt, energy efficiency project financing, capital leases, unamortized debt issuance costs and unamortized discount/premium
(2) Long-term debt balances reflect financials as of 3/31/26. Balances include instruments reflected in the maturity profile, as well as subsidiary debt and energy efficiency project financings.
(3) Maturity profile reflects mandatory purchase dates for tax-exempt notes
(4) Remaining “stub” balance relates to the 3.75% Calpine senior notes following the obligor exchange completed in January and is expected to remain at Calpine given the attractive coupon
Current Credit Ratings
(1) Reflects senior unsecured rating for Constellation Energy Generation, LLC and Calpine LLC, respectively. Ratings shown have Stable outlook.