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FirstEnergy's 2025 Annual Meeting Highlights

FirstEnergy Corp. convened its 2025 Annual Meeting of Shareholders, where Board Chair, President, and CEO Brian X. Tierney delivered an inspiring address, outlining the company's substantial achievements and future trajectory. With a clear focus on becoming a leading electric utility, Tierney emphasized their mission to deliver significant value to both investors and the six million customers they serve across multiple states.

Company Transformation

In the past year, FirstEnergy has undergone a transformation, optimizing its operations to enhance performance and decision-making. By decentralizing authority, the company aims to more effectively respond to the distinct needs of local communities. Tierney highlighted, "Our boots-on-the-ground leadership team understands the distinct needs of their communities. This shapes and drives our strategy to invest in the electric system for the benefit of our customers."

Investment in Electric Infrastructure

The cornerstone of FirstEnergy's strategy is the Energize365 capital investment program. Tierney reported that in the inaugural year of 2024, the company invested $4.5 billion into improving the electric grid, marking a 20% increase from the previous year. Looking ahead, this program has a substantial five-year investment target of $28 billion through 2029, which includes $5 billion allocated for 2025. The initiatives aim to enhance the grid's intelligence, security, and reliability while ensuring customer affordability.

Tierney stated, "Our Energize365 investments solidly support our growth targets and the economic viability of our region. We remain committed to safely and effectively delivering electricity that strengthens society and powers our economy."

Preliminary Voting Results

The meeting also included announcements regarding preliminary voting results, showing that shareholders have reelected ten board directors and ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2025. Notably, an advisory proposal concerning executive officer compensation received approval, showcasing shareholder support for FirstEnergy's leadership.

Leadership Reelection

The directors reelected for one-year terms included notable figures such as Heidi L. Boyd from Blackstone Inc., Jana T. Croom from Kimball Electronics, and Steven J. Demetriou from Amentum Holdings. The leadership team, which includes Tierney himself, remains focused on ensuring robust governance and steering the company towards a sustainable future.

Commitments to Integrity and Excellence

FirstEnergy has established itself as a major player in the electric utility sector, devoted to operational excellence and ethical practices. Their distribution companies serve a vast customer base across Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York, operating about 24,000 miles of transmission lines connecting key regions. As stated by Tierney, the company’s goal is clear: to keep building on the progress already made, laying a strong foundation for FirstEnergy's future as a premier electric utility.

For more insights from Tierney's presentation, including video highlights, shareholders and stakeholders are encouraged to visit FirstEnergy's official newsroom at firstenergycorp.com. This meeting not only reflects FirstEnergy’s achievements but also sets the stage for a promising future fueled by innovative investments and community-centric policies.

Conclusion

As FirstEnergy moves forward, it remains focused on enhancing service quality while delivering on its commitments to both shareholders and customers. The company's aspirations and strategic direction indicate a robust approach to navigating the evolving energy landscape, making it an essential player in ensuring electricity reliability while promoting sustainable practices.