EX-99 3 exhibit99-1.txt EXHIBIT 99.1 Exhibit 99.1 [Exelon Logo] Exelon Corporation - A Measure of Our Strength John W. Rowe Chairman and CEO Merrill Lynch Global Power and Gas Leaders Conference New York City September 18, 2002 [Exelon Logo] Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein. The forward-looking statements herein include statements about future financial and operating results of Exelon. Economic, business, competitive and/or regulatory factors affecting Exelon's businesses generally could cause actual results to differ materially from those described herein. For a discussion of the factors that could cause actual results to differ materially, please see Exelon's filings with the Securities and Exchange Commission, particularly those discussed in "Management's Discussion and Analysis of Financial Condition and Results of Operations -- Outlook" in Exelon's 2001 Annual Report and those discussed in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Exelon Generation Company, LLC's Registration Statement on Form S-4, Reg. No. 333-85496. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Exelon does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation. [Exelon Logo] What Is Exelon?
------------------------------------------------------------------------------------------------------------ US Electric Companies US Companies ------------------------------------------------------------------------------------------------------------ Retail Electric Customers 5.1 Million 1st - Nuclear Capacity 15K MWs* 1st - US Generating Capacity 41K MWs** 1st - 2001 Revenue $15.1 Billion 9th 135th 2001 Net Income $1.4 Billion 2nd 53rd Market Cap $14.2 Billion (9/12/02) 4th (9/12/02) 106th (8/27/02) ------------------------------------------------------------------------------------------------------------
* Includes AmerGen investment ** Includes AmerGen and Sithe investments [Exelon Logo] Strategic Initiatives Update - Cost Management Initiative - Sithe Energies Investment - Midwest Generation contract - Provider of Last Resort (POLR) filing - Enterprises Path to Value - FERC Goodwill Issue [Exelon Logo] Exelon Consolidated Financial Outlook --------------------------------------------------------------------- ($ millions) 2001A 2002E --------------------------------------------------------------------- Revenue 15,140 14,200-14,600 Gross Margin (Rev. net Fuel) 9,827 9,300-9,700 Other Operating Exp. 4,922 4,775-4,900 Depr. & Amort. 1,449 1,200-1,250 ------------------------------- EBIT 3,456 3,325-3,550 Interest and Pref. 1,109 930-1,000 Income Taxes 931 925-975 ------------------------------- Net Income before Cum. Effect Chg. in Accounting 1,416 1,470-1,575 Cum. Effect Chg. in Accounting 12 ----------- Net Income* 1,428 Avg. Shares (millions) 322 325 EPS ($) $4.43 $4.55-$4.85 --------------------------------------------------------------------- * Net income as reported for 2001. Net operating income excludes one-time items for 2002. A = Actual; E = Estimate [Exelon Logo] Our Vision = Value Creation - Capitalize on Strengths - Focus on Fundamentals and Discipline - Committed to Performance