In May 2022, Dominion Energy entered into an agreement with a financial institution and committed to make a short-term deposit of at least $1.6 billion but not more than $2.0 billion to be posted as collateral to secure its $1.6 billion redemption obligation of the Series A Preferred Stock as described in Note 16. In May 2022, Dominion Energy funded the short-term deposit in the amount of $2.0 billion, which earns interest income at an annual rate of 1.75% and matures in September 2022. At June 30, 2022, the full amount of

the deposit remained outstanding with the financial institution and is classified as a held-to-maturity debt security and recorded at amortized cost, with no allowances for credit losses recognized. The fair value of the deposit, considered a Level 2 fair value measurement, approximates its carrying value.

Equity and fixed income securities and cash equivalents in Dominion Energy’s rabbi trusts and classified as trading totaled $111 million and $122 million at June 30, 2022 and December 31, 2021, respectively.

Dominion Energy holds equity and fixed income securities, insurance contracts and cash equivalents in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. Dominion Energy’s decommissioning trust funds are summarized below:

	Amortized Cost		Total Unrealized Gains		Total Unrealized Losses				Allowance for Credit Losses		Fair Value
(millions)
June 30, 2022
Equity securities:⁽¹⁾
U.S.	$	1,372	$	2,406	$	(24	)				$	3,754
Fixed income securities:⁽²⁾
Corporate debt instruments		687		1		(70	)		$	—		618
Government securities		1,261		5		(60	)			—		1,206
Common/collective trust funds		60		—		—				—		60
Insurance contracts		224		—		—						224
Cash equivalents and other⁽³⁾		10		—		—				—		10
Total	$	3,614	$	2,412	$	(154	)	⁽⁴⁾	$	—	$	5,872
December 31, 2021
Equity securities:⁽¹⁾
U.S.	$	1,567	$	3,734	$	(13	)				$	5,288
Fixed income securities:⁽²⁾
Corporate debt instruments		854		32		(5	)		$	—		881
Government securities		1,382		43		(7	)			—		1,418
Common/collective trust funds		168		4		—				—		172
Insurance contracts		255		—		—						255
Cash equivalents and other⁽³⁾		9		2		(75	)			—		(64	)
Total	$	4,235	$	3,815	$	(100	)	⁽⁴⁾	$	—	$	7,950

The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy’s nuclear decommissioning trusts is summarized below:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
(millions)
Net gains (losses) recognized during the period	$	(712	)	$	352		$	(918	)	$	631
Less: Net (gains) losses recognized during the period on securities sold during the period		6			(134	)		5			(312	)
Unrealized gains (losses) recognized during the period on securities still held at period end⁽¹⁾	$	(706	)	$	218		$	(913	)	$	319

The fair value of Dominion Energy’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at June 30, 2022 by contractual maturity is as follows:

Presented below is selected information regarding Dominion Energy’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.

Virginia Power holds equity and fixed income securities and cash equivalents in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. Virginia Power’s decommissioning trust funds are summarized below:

	Amortized Cost		Total Unrealized Gains		Total Unrealized Losses				Allowance for Credit Losses		Fair Value
(millions)
June 30, 2022
Equity securities:⁽¹⁾
U.S.	$	858	$	1,265	$	(20	)				$	2,103
Fixed income securities:⁽²⁾
Corporate debt instruments		474		1		(56	)		$	—		419
Government securities		612		2		(26	)			—		588
Common/collective trust funds		47		—		—				—		47
Cash equivalents and other⁽³⁾		3		—		—				—		3
Total	$	1,994	$	1,268	$	(102	)	⁽⁴⁾	$	—	$	3,160
December 31, 2021
Equity securities:⁽¹⁾
U.S.	$	841	$	1,720	$	(11	)				$	2,550
Fixed income securities:⁽²⁾
Corporate debt instruments		517		17		(3	)		$	—		531
Government securities		584		16		(2	)			—		598
Common/collective trust funds		53		—		—				—		53
Cash equivalents and other⁽³⁾		2		—		—				—		2
Total	$	1,997	$	1,753	$	(16	)	⁽⁴⁾	$	—	$	3,734

The portion of unrealized gains and losses that relates to equity securities held within Virginia Power’s nuclear decommissioning trusts is summarized below:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
(millions)
Net gains (losses) recognized during the period	$	(361	)	$	170		$	(463	)	$	313
Less: Net (gains) losses recognized during the period on securities sold during the period		—			(85	)		(4	)		(173	)
Unrealized gains (losses) recognized during the period on securities still held at period end⁽¹⁾	$	(361	)	$	85		$	(467	)	$	140

The fair value of Virginia Power’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at June 30, 2022 by contractual maturity is as follows:

Presented below is selected information regarding Virginia Power’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.

Dominion Energy recorded equity earnings on its investments of $163 million and $145 million for the six months ended June 30, 2022 and 2021, respectively, in earnings from equity method investees in its Consolidated Statements of Income. In addition, Dominion Energy recorded equity losses of $4 million and $22 million for the six months ended June 30, 2022 and 2021, respectively, in discontinued operations related to its investment in Atlantic Coast Pipeline. Dominion Energy received distributions of $167 million and $166 million for the six months ended June 30, 2022 and 2021, respectively. Dominion Energy made contributions of $90 million and $1.0 billion for the six months ended June 30, 2022 and 2021, respectively. At June 30, 2022 and December 31, 2021, the net difference between the carrying amount of Dominion Energy’s investments and its share of underlying equity in net assets was $237 million and $244 million, respectively. At June 30, 2022, these differences are primarily comprised of $11 million of equity method goodwill that is not being amortized and a $218 million basis difference from Dominion Energy’s investment in Cove Point, which is being amortized over the useful lives of the underlying assets. At December 31, 2021, these differences are comprised of $27 million of equity method goodwill that is not being amortized, a $221 million basis difference from Dominion Energy’s investment in Cove Point, which is being amortized over the useful lives of the underlying assets, and a net $(4) million basis difference primarily attributable to an unfunded commitment made to Align RNG.

Dominion Energy holds a 50% noncontrolling limited partnership interest in Cove Point which is accounted for as an equity method investment, as discussed in Note 9 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2021.

Income before income taxes recorded for 100% of Cove Point was $158 million and $136 million for the three months ended June 30, 2022 and 2021, respectively, and $309 million and $274 million for the six months ended June 30, 2022 and 2021, respectively. Earnings attributable to Dominion Energy are presented within earnings from equity method investees in its Consolidated Statements of Income.

Dominion Energy recorded distributions from Cove Point of $85 million and $77 million for the three months ended June 30, 2022 and 2021, respectively, and $161 million and $150 million for the six months ended June 30, 2022 and 2021, respectively.

A description of Dominion Energy’s investment in Atlantic Coast Pipeline, including events that led to the cancellation of the Atlantic Coast Pipeline Project in July 2020, is included in Note 9 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.

At June 30, 2022 and December 31, 2021, Dominion Energy has recorded a liability of $117 million and $113 million, respectively, in other current liabilities in its Consolidated Balance Sheets as a result of its share of equity losses exceeding its investment which reflects Dominion Energy’s obligations on behalf of Atlantic Coast Pipeline related to its AROs.

Dominion Energy recorded contributions of $965 million during the six months ended June 30, 2021 to Atlantic Coast Pipeline. Dominion Energy recorded no contributions during the six months ended June 30, 2022 to Atlantic Coast Pipeline.

Dominion Energy expects to incur additional losses from Atlantic Coast Pipeline as it completes wind-down activities. While Dominion Energy is unable to precisely estimate the amounts to be incurred by Atlantic Coast Pipeline, the portion of such amounts attributable to Dominion Energy is not expected to be material to Dominion Energy’s results of operations, financial position or statement of cash flows.

In March 2022, Dominion Energy sold its remaining 15% noncontrolling partnership interest in Wrangler to Interstate Gas Supply, Inc. for cash consideration of $85 million. Dominion Energy recognized a gain of $11 million ($8 million after-tax), included in other income (expense), in its Consolidated Statements of Income for the six months ended June 30, 2022.

All activity relating to Wrangler is recorded within the Corporate and Other segment.

In February 2022, Dominion Energy entered into an agreement to form Dominion Privatization, a partnership with Patriot. Dominion Privatization, through its wholly-owned subsidiaries, will maintain and operate electric and gas distribution infrastructure under service concession arrangements with certain U.S. military installations. Under the agreement, Dominion Energy will contribute its existing privatization operations, excluding contracts held by DESC, and Patriot will contribute cash.

The initial contribution, consisting of privatization operations in South Carolina, Texas and Pennsylvania, closed in March 2022 for which Dominion Energy received total consideration of $120 million, subject to customary closing adjustments, comprised of $60 million in cash proceeds and a 50% noncontrolling ownership interest in Dominion Privatization with an initial fair value of $60 million, estimated using the market approach. This is considered a Level 2 fair value measurement given that it is based on the agreed-

upon sales price. In the first quarter of 2022, Dominion Energy recorded a gain of $23 million ($16 million after-tax), presented in losses (gains) on sales of assets in its Consolidated Statements of Income. Dominion Energy’s 50% noncontrolling ownership interest in Dominion Privatization is accounted for as an equity method investment as Dominion Energy has the ability to exercise significant influence, but not control, over the investee.

Dominion Energy expects to contribute its existing privatization operations in Virginia to Dominion Privatization by the end of 2022, contingent on clearance or approval under the Hart-Scott-Rodino Act and other customary closing and regulatory conditions. In April 2022, Dominion Energy filed with the Federal Trade Commission for approval under the Hart-Scott-Rodino Act. In May 2022, the waiting period under the Hart-Scott-Rodino Act expired. The contribution of the service concession arrangements currently held by Virginia Power also requires approval from the Virginia and North Carolina Commissions. In May 2022, Virginia Power filed for such approval with the Virginia and North Carolina Commissions. In July 2022, the Virginia Commission approved the request. Upon closing of the second contribution, Dominion Energy expects to receive cash proceeds totaling $108 million, subject to customary closing adjustments, and to recognize a gain of approximately $130 million ($100 million after-tax). When this future contribution occurs, Dominion Energy expects to maintain a 50% noncontrolling ownership interest in Dominion Privatization.

At June 30, 2022, $86 million of contracts and related assets and $4 million of liabilities associated with existing privatization operations in Virginia are classified as held for sale and reflected in current assets held for sale and current liabilities held for sale, respectively, in Dominion Energy’s Consolidated Balance Sheets and in other current assets and other current liabilities, respectively, in Virginia Power’s Consolidated Balance Sheets.

All activity relating to Dominion Privatization is reflected within the Corporate and Other segment.