8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 30, 2024

Public Service Enterprise Group Incorporated

(Exact name of registrant as specified in its charter)

New Jersey	001-09120	22-2625848
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

80 Park Plaza

Newark, New Jersey 07102

(Address of principal executive offices) (Zip Code)

973 430-7000

(Registrant’s telephone number, including area code)

Public Service Electric and Gas Company

(Exact name of registrant as specified in its charter)

New Jersey	001-00973	22-1212800
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

80 Park Plaza

Newark, New Jersey 07102

(Address of principal executive offices) (Zip Code)

973 430-7000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange On Which Registered
Public Service Enterprise Group Incorporated
Common Stock without par value	PEG	New York Stock Exchange
Public Service Electric and Gas Company
8.00% First and Refunding Mortgage Bonds, due 2037	PEG37D	New York Stock Exchange
5.00% First and Refunding Mortgage Bonds, due 2037	PEG37J	New York Stock Exchange

Indicate by check mark whether any of the registrants is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if such registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                     ☐

The information contained in Item 2.02. Results of Operations and Financial Condition in this Form 8-K is furnished solely for Public Service Enterprise Group Incorporated (PSEG). The information contained in Item 7.01 Regulation FD Disclosure in this combined Form 8-K is separately furnished, as noted, by PSEG and Public Service Electric and Gas Company (PSE&G). Information contained herein relating to any individual company is provided by such company on its own behalf and in connection with its respective Form 8-K. PSE&G makes representations only as to itself and makes no other representations whatsoever as to any other company. The materials furnished as Exhibits 99 and 99.1 are available on the corporate.pseg.com website under the investor tab, or at https://investor.pseg.com.

Item 2.02 Results of Operations and Financial Condition

PSEG

On July 30, 2024, PSEG announced financial results for the three and six months ended June 30, 2024. A copy of the earnings release dated July 30, 2024 is furnished as Exhibit 99 to this Form 8-K.

Item 7.01 Regulation FD Disclosure

PSEG and PSE&G

On July 30, 2024, PSEG conducted an earnings call regarding its results for the three and six months ended June 30, 2024. A copy of the slideshow presentation used during the earnings call is furnished as Exhibit 99.1 to this Form 8-K.

Item 9.01 Financial Statements and Exhibits

Exhibit 99	Press Release dated July 30, 2024
Exhibit 99.1	Slideshow Presentation
Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.

PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED
(Registrant)
By:	/s/ Rose M. Chernick
	ROSE M. CHERNICK
	Vice President and Controller
	(Principal Accounting Officer)

Date: July 30, 2024

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.

PUBLIC SERVICE ELECTRIC AND GAS COMPANY
(Registrant)
By:	/s/ Rose M. Chernick
	ROSE M. CHERNICK
	Vice President and Controller
	(Principal Accounting Officer)

Date: July 30, 2024

3

EX-99

Exhibit 99

Public Service Enterprise Group 80 Park Plaza Newark, NJ 07102

PSEG ANNOUNCES SECOND QUARTER 2024 RESULTS

$0.87 PER SHARE NET INCOME

$0.63 PER SHARE NON-GAAP OPERATING EARNINGS

Reaffirms Full-Year 2024 Non-GAAP Operating Earnings Guidance

(NEWARK, N.J. – July 30, 2024) Public Service Enterprise Group (NYSE: PEG) reported the following results for the second quarter of 2024:

PSEG Consolidated (unaudited)

Second Quarter Comparative Results

	Income						Diluted Earnings Per Share
($ millions, except per share amounts)	2Q 2024			2Q 2023			2Q 2024			2Q 2023
Net Income	$	434		$	591		$	0.87		$	1.18
Reconciling Items		(121	)		(240	)		(0.24	)		(0.48	)
Non-GAAP Operating Earnings	$	313		$	351		$	0.63		$	0.70
Average Shares								500			500
See Attachments 8 and 9 for a complete list of items excluded from Net Income in the determination of non-GAAP Operating Earnings.

“PSEG’s financial results for the second quarter and first half are in line with our expectations for the full year, enabling us to reaffirm our full-year 2024 non-GAAP Operating Earnings guidance range of $3.60 to $3.70 per share,” said Ralph LaRossa, PSEG’s chair, president and CEO. “PSEG responded well to the extreme conditions we experienced during the quarter, which included an early summer heat wave and one of the strongest earthquakes in New Jersey history, with minimal system disruption. Our regulatory calendar remains on track to conclude both our distribution base rate case and the Clean Energy Future-Energy Efficiency II filing later this year. We are proud of PSE&G’s suite of award-winning energy efficiency offerings, and how they help to lower customer bills. Additionally, PSE&G recently filed with the New Jersey Board of Public Utilities (BPU) to implement another gas supply cost reduction this October, our third since January 2023, which will further help customer affordability this winter.”

LaRossa added, “PSEG Power successfully completed the scheduled refueling outage at our 100%-owned Hope Creek nuclear unit and continues to pursue multiple growth opportunities that include capacity uprates, hydrogen pilots, and potential sales to data centers – consistent with our efforts to increase the predictability of our business and align with state economic development goals. Along those lines, PSE&G is experiencing an

1

increase in new business requests and feasibility studies from potential data center customers across our service area compared with 2023 activity, which along with increased electric vehicle charging, is expected to drive load growth and system investment needs in the future.

Through the first six months of the year, our results are as expected, recognizing that PSE&G’s distribution rate case remains pending, as well as the benefit of the new PTC which began in January 2024. We are also re-affirming our five-year, non-GAAP Operating Earnings growth outlook of 5% to 7% through 2028, which does not reflect growth opportunities at our nuclear fleet. Importantly, our solid balance sheet supports the execution of PSEG’s five-year capital investment program of $19 billion to $22.5 billion over the same period – without the need to issue new equity or sell assets – and provides the opportunity for consistent and sustainable dividend growth.”

PSEG Results by Segment

Public Service Electric and Gas

Second Quarter Comparative Results

($ millions, except per share amounts)	2Q 2024		2Q 2023
Net Income	$	302	$	336
Net Income Per Share (EPS)	$	0.60	$	0.67
Non-GAAP Operating Earnings	$	302	$	341
Non-GAAP Operating EPS	$	0.60	$	0.68

PSE&G’s second quarter results benefited from incremental investment in Transmission, clause-based system modernization and Energy Efficiency programs, which were offset by higher operation and maintenance costs, as well as higher depreciation and interest expense. The year-over-year trajectory was expected as we experience growing regulatory lag prior to the conclusion of our rate case later this year. PSE&G invested approximately $0.9 billion during the second quarter, bringing our year-to-date capital spending to $1.7 billion, which is on track with the full-year plan to invest $3.4 billion. The BPU recently approved an approximate $300 million extension of PSE&G’s existing Energy Efficiency program through December 2024, and authorized the recovery of all previously deferred COVID-related expenses, including carrying costs, over a five-year period starting in 2025.

PSEG Power & Other

Second Quarter Comparative Results

($ millions, except per share amounts)	2Q 2024		2Q 2023
Net Income	$	132	$	255
Net Income Per Share (EPS)	$	0.27	$	0.51
Non-GAAP Operating Earnings	$	11	$	10
Non-GAAP Operating EPS	$	0.03	$	0.02

2

PSEG Power & Other results for the quarter primarily reflect the positive impact of the federal nuclear production tax credit, which took effect January 1, 2024, offset by higher costs related to the scheduled refueling outage at our 100%-owned Hope Creek nuclear plant. We continue to anticipate realizing most of the increase in the 2024 gross margin over 2023’s gross margin during the second half of the year, concentrated in the fourth quarter.

###

PSEG will host a conference call to review its second quarter 2024 results, earnings guidance, and other matters with the financial community at 11:00 a.m. ET today. Please register to access this event by visiting:

https://investor.pseg.com/investor-news-and-events.

Media Relations:	Investor Relations:
Marijke Shugrue 862-465-1445 Marijke.Shugrue@pseg.com	Carlotta Chan 973-430-6565 Carlotta.Chan@pseg.com

About PSEG

Public Service Enterprise Group (PSEG) (NYSE: PEG) is a predominantly regulated infrastructure company focused on a clean energy future. Guided by its Powering Progress vision, PSEG aims to power a future where people use less energy, and it’s cleaner, safer and delivered more reliably than ever. With a continued focus on sustainability, PSEG has appeared on the Dow Jones Sustainability North America Index for 16 consecutive years. PSEG is included on the 2023-2024 list of U.S. News’ Best Companies to Work For. PSEG’s businesses include Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island (https://corporate.pseg.com).

Non-GAAP Financial Measures

Management uses non-GAAP Operating Earnings in its internal analysis, and in communications with investors and analysts, as a consistent measure for comparing PSEG’s financial performance to previous financial results. Non-GAAP Operating Earnings exclude the impact of gains (losses) associated with the Nuclear Decommissioning Trust (NDT), Mark-to-Market (MTM) accounting and other material infrequent items.

See Attachments 8 and 9 for a complete list of items excluded from Net Income in the determination of non-GAAP Operating Earnings. The presentation of non-GAAP Operating Earnings is intended to complement and should not be considered an alternative to the presentation of Net Income, which is an indicator of financial performance determined in accordance with GAAP. In addition, non-GAAP Operating Earnings as presented in this release may not be comparable to similarly titled measures used by other companies.

Due to the forward-looking nature of non-GAAP Operating Earnings guidance, PSEG is unable to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure because comparable GAAP measures are not reasonably accessible or reliable due to the inherent difficulty in forecasting and quantifying measures that would be required for such reconciliation. Namely, we are not able to reliably project without unreasonable effort MTM and NDT gains (losses), for future periods due to market volatility. These items are uncertain, depend on various factors, and may have a material impact on our future GAAP results.

3

Forward-Looking Statements

Certain of the matters discussed in this report about our and our subsidiaries’ future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences, and all other statements that are not purely historical constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on management’s beliefs as well as assumptions made by and information currently available to management. When used herein, the words “anticipate,” “intend,” “estimate,” “believe,” “expect,” “plan,” “should,” “hypothetical,” “potential,” “forecast,” “project,” variations of such words and similar expressions are intended to identify forward-looking statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Other factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are discussed in filings we make with the United States Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K. These factors include, but are not limited to:

• any inability to successfully develop, obtain regulatory approval for, or construct transmission and distribution, and our nuclear generation projects;

• the physical, financial and transition risks related to climate change, including risks relating to potentially increased legislative and regulatory burdens, changing customer preferences and lawsuits;

• any equipment failures, accidents, critical operating technology or business system failures, natural disasters, severe weather events, acts of war, terrorism or other acts of violence, sabotage, physical attacks or security breaches, cyberattacks or other incidents that may impact our ability to provide safe and reliable service to our customers;

• any inability to recover the carrying amount of our long-lived assets;

• disruptions or cost increases in our supply chain, including labor shortages;

• any inability to maintain sufficient liquidity or access sufficient capital on commercially reasonable terms;

• the impact of cybersecurity attacks or intrusions or other disruptions to our information technology, operational or other systems;

• a material shift away from natural gas toward increased electrification and a reduction in the use of natural gas;

• failure to attract and retain a qualified workforce;

• increases in the costs of equipment, materials, fuel, services and labor;

• the impact of our covenants in our debt instruments and credit agreements on our business;

• adverse performance of our defined benefit plan trust funds and Nuclear Decommissioning Trust Fund and increases in funding requirements and pension costs;

• any inability to extend certain significant contracts on terms acceptable to us;

• development, adoption and use of Artificial Intelligence by us and our third-party vendors;

• fluctuations in, or third-party default risk in wholesale power and natural gas markets, including the potential impacts on the economic viability of our generation units;

• our ability to obtain adequate nuclear fuel supply;

• changes in technology related to energy generation, distribution and consumption and changes in customer usage patterns;

• third-party credit risk relating to our sale of nuclear generation output and purchase of nuclear fuel;

• any inability to meet our commitments under forward sale obligations and Regional Transmission Organization rules;

• the impact of changes in state and federal legislation and regulations on our business, including PSE&G’s ability to recover costs and earn returns on authorized investments;

• PSE&G’s proposed investment projects or programs may not be fully approved by regulators and its capital investment may be lower than planned;

• our ability to receive sufficient financial support for our New Jersey nuclear plants from the markets, production tax credit and/or zero emission certificates program;

• adverse changes in and non-compliance with energy industry laws, policies, regulations and standards, including market structures and transmission planning and transmission returns;

• risks associated with our ownership and operation of nuclear facilities, including increased nuclear fuel storage costs, regulatory risks, such as compliance with the Atomic Energy Act and trade control, environmental and other regulations, as well as operational, financial, environmental and health and safety risks;

• changes in federal and state environmental laws and regulations and enforcement;

• delays in receipt of, or an inability to receive, necessary licenses and permits and siting approvals; and

• changes in tax laws and regulations.

All of the forward-looking statements made in this report are qualified by these cautionary statements and we cannot assure you that the results or developments anticipated by management will be realized or even if realized, will have the expected consequences to, or effects on, us or our business, prospects, financial condition, results of operations or cash flows. Readers are cautioned not to place undue reliance on these forward-looking statements in making any investment decision. Forward-looking statements made in this report apply only as of the date of this report. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even in light of new information or future events, unless otherwise required by applicable securities laws.

The forward-looking statements contained in this report are intended to qualify for the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

From time to time, PSEG and PSE&G release important information via postings on their corporate Investor Relations website at https://investor.pseg.com. Investors and other interested parties are encouraged to visit the Investor Relations website to review new postings. You can sign up for automatic email alerts regarding new postings at the bottom of the webpage at https://investor.pseg.com or by navigating to the Email Alerts webpage here. The information on https://investor.pseg.com and https://investor.pseg.com/resources/email-alerts/default.aspx is not incorporated herein and is not part of this press release or the Form 8-K to which it is an exhibit.

4

Attachment 1

Public Service Enterprise Group Incorporated

Consolidating Statements of Operations

(Unaudited, $ millions, except per share data)

	Three Months Ended June 30, 2024
	PSEG			Eliminations			PSE&G			PSEG Power & Other(a)
OPERATING REVENUES	$	2,423		$	(124	)	$	1,863		$	684
OPERATING EXPENSES
Energy Costs		732			(124	)		683			173
Operation and Maintenance		824			—			466			358
Depreciation and Amortization		285			—			247			38
Total Operating Expenses		1,841			(124	)		1,396			569
OPERATING INCOME		582			—			467			115
Income from Equity Method Investments		1			—			—			1
Net Gains (Losses) on Trust Investments		7			—			—			7
Net Other Income (Deductions)		47			(2	)		16			33
Net Non-Operating Pension and OPEB Credits (Costs)		18			—			19			(1	)
Interest Expense		(218	)		2			(141	)		(79	)
INCOME BEFORE INCOME TAXES		437			—			361			76
Income Tax (Expense) Benefit		(3	)		—			(59	)		56
NET INCOME	$	434		$	—		$	302		$	132
Reconciling Items Excluded from Net Income(b)		(121	)		—			—			(121	)
OPERATING EARNINGS (non-GAAP)	$	313		$	—		$	302		$	11
Earnings Per Share
NET INCOME	$	0.87		$	—		$	0.60		$	0.27
Reconciling Items Excluded from Net Income(b)		(0.24	)		—			—			(0.24	)
OPERATING EARNINGS (non-GAAP)	$	0.63		$	—		$	0.60		$	0.03
	Three Months Ended June 30, 2023
	PSEG			Eliminations			PSE&G			PSEG Power & Other(a)
OPERATING REVENUES	$	2,421		$	(143	)	$	1,662		$	902
OPERATING EXPENSES
Energy Costs		604			(143	)		551			196
Operation and Maintenance		744			—			429			315
Depreciation and Amortization		279			—			240			39
Total Operating Expenses		1,627			(143	)		1,220			550
OPERATING INCOME		794			—			442			352
Net Gains (Losses) on Trust Investments		57			—			—			57
Net Other Income (Deductions)		49			(1	)		23			27
Net Non-Operating Pension and OPEB Credits (Costs)		29			—			28			1
Interest Expense		(185	)		1			(123	)		(63	)
INCOME BEFORE INCOME TAXES		744			—			370			374
Income Tax Expense		(153	)		—			(34	)		(119	)
NET INCOME	$	591		$	—		$	336		$	255
Reconciling Items Excluded from Net Income(b)		(240	)		—			5			(245	)
OPERATING EARNINGS (non-GAAP)	$	351		$	—		$	341		$	10
Earnings Per Share
NET INCOME	$	1.18		$	—		$	0.67		$	0.51
Reconciling Items Excluded from Net Income(b)		(0.48	)		—			0.01			(0.49	)
OPERATING EARNINGS (non-GAAP)	$	0.70		$	—		$	0.68		$	0.02

(a) Includes activities at PSEG Power, PSEG Long Island, Energy Holdings, PSEG Services Corporation and the Parent.

(b) See Attachments 8 and 9 for details of items excluded from Net Income to compute Operating Earnings (non-GAAP).

Attachment 2

Public Service Enterprise Group Incorporated

Consolidating Statements of Operations

(Unaudited, $ millions, except per share data)

	Six Months Ended June 30, 2024
	PSEG			Eliminations			PSE&G			PSEG Power & Other(a)
OPERATING REVENUES	$	5,183		$	(569	)	$	4,196		$	1,556
OPERATING EXPENSES
Energy Costs		1,729			(569	)		1,611			687
Operation and Maintenance		1,607			—			931			676
Depreciation and Amortization		580			—			504			76
Total Operating Expenses		3,916			(569	)		3,046			1,439
OPERATING INCOME		1,267			—			1,150			117
Income from Equity Method Investments		1			—			—			1
Net Gains (Losses) on Trust Investments		102			—			—			102
Net Other Income (Deductions)		82			(3	)		32			53
Net Non-Operating Pension and OPEB Credits (Costs)		37			—			38			(1	)
Interest Expense		(423	)		3			(279	)		(147	)
INCOME BEFORE INCOME TAXES		1,066			—			941			125
Income Tax (Expense) Benefit		(100	)		—			(151	)		51
NET INCOME	$	966		$	—		$	790		$	176
Reconciling Items Excluded from Net Income(b)		4			—			—			4
OPERATING EARNINGS (non-GAAP)	$	970		$	—		$	790		$	180
Earnings Per Share
NET INCOME	$	1.93		$	—		$	1.58		$	0.35
Reconciling Items Excluded from Net Income(b)		0.01			—			—			0.01
OPERATING EARNINGS (non-GAAP)	$	1.94		$	—		$	1.58		$	0.36
	Six Months Ended June 30, 2023
	PSEG			Eliminations			PSE&G			PSEG Power & Other(a)
OPERATING REVENUES	$	6,176		$	(708	)	$	3,955		$	2,929
OPERATING EXPENSES
Energy Costs		1,686			(708	)		1,535			859
Operation and Maintenance		1,487			—			889			598
Depreciation and Amortization		561			—			484			77
Total Operating Expenses		3,734			(708	)		2,908			1,534
OPERATING INCOME		2,442			—			1,047			1,395
Income from Equity Method Investments		1			—			—			1
Net Gains (Losses) on Trust Investments		103			—			—			103
Net Other Income (Deductions)		91			(2	)		44			49
Net Non-Operating Pension and OPEB Credits (Costs)		57			—			56			1
Interest Expense		(365	)		2			(236	)		(131	)
INCOME BEFORE INCOME TAXES		2,329			—			911			1,418
Income Tax Expense		(451	)		—			(88	)		(363	)
NET INCOME	$	1,878		$	—		$	823		$	1,055
Reconciling Items Excluded from Net Income(b)		(832	)		—			10			(842	)
OPERATING EARNINGS (non-GAAP)	$	1,046		$	—		$	833		$	213
Earnings Per Share
NET INCOME	$	3.76		$	—		$	1.65		$	2.11
Reconciling Items Excluded from Net Income(b)		(1.67	)		—			0.02			(1.69	)
OPERATING EARNINGS (non-GAAP)	$	2.09		$	—		$	1.67		$	0.42

(a) Includes activities at PSEG Power, PSEG Long Island, Energy Holdings, PSEG Services Corporation and the Parent.

(b) See Attachments 8 and 9 for details of items excluded from Net Income to compute Operating Earnings (non-GAAP).

Attachment 3

Public Service Enterprise Group Incorporated

Capitalization Schedule

(Unaudited, $ millions)

	June 30, 2024			December 31, 2023
DEBT
Commercial Paper and Loans	$	879		$	949
Long-Term Debt*		20,519			19,284
Total Debt		21,398			20,233
STOCKHOLDERS’ EQUITY
Common Stock		5,020			5,018
Treasury Stock		(1,408	)		(1,379	)
Retained Earnings		12,385			12,017
Accumulated Other Comprehensive Loss		(173	)		(179	)
Total Stockholders’ Equity		15,824			15,477
Total Capitalization	$	37,222		$	35,710

* Includes current portion of Long-Term Debt

Attachment 4

Public Service Enterprise Group Incorporated

Condensed Consolidated Statements of Cash Flows

(Unaudited, $ millions)

	Six Months Ended June 30,
	2024			2023
Cash Flows From Operating Activities
Net Income	$	966		$	1,878
Adjustments to Reconcile Net Income to Net Cash Flows From Operating Activities		177			531
Net Cash Provided By (Used In) Operating Activities		1,143			2,409
Net Cash Provided By (Used In) Investing Activities		(1,612	)		(1,119	)
Net Cash Provided By (Used In) Financing Activities		515			(1,204	)
Net Change in Cash, Cash Equivalents and Restricted Cash		46			86
Cash, Cash Equivalents and Restricted Cash at Beginning of Period		99			511
Cash, Cash Equivalents and Restricted Cash at End of Period	$	145		$	597

Attachment 5

Public Service Electric & Gas Company

Retail Sales

(Unaudited)

June 30, 2024

Electric Sales

Sales (millions kWh)	Three Months Ended	Change vs. 2023	Six Months Ended	Change vs. 2023
Residential	3,369	20%	6,458	12%
Commercial & Industrial	6,377	8%	12,919	4%
Other	71	0%	171	1%
Total	9,817	12%	19,548	7%

Gas Sold and Transported

Sales (millions therms)	Three Months Ended	Change vs. 2023	Six Months Ended	Change vs. 2023
Firm Sales
Residential Sales	199	8%	856	6%
Commercial & Industrial	160	5%	606	7%
Total Firm Sales	359	7%	1,462	6%
Non-Firm Sales*
Commercial & Industrial	191	(1%)	365	9%
Total Non-Firm Sales	191		365
Total Sales	550	4%	1,827	7%

* Contract Service Gas rate included in non-firm sales

Weather Data*

	Three Months Ended	Change vs. 2023	Six Months Ended	Change vs. 2023
THI Hours - Actual	5,893	99%	5,898	100%
THI Hours - Normal	4,152		4,173
Degree Days - Actual	402	20%	2,512	10%
Degree Days - Normal	489		3,046

* Winter weather as defined by heating degree days (HDD) to serve as a measure for the need for heating. For each day, HDD is calculated as HDD = 65°F – the average hourly daily temperature. Summer weather is measured by the temperature-humidity index (THI), which takes into account both the temperature and the humidity to measure the need for air conditioning. Both measures use data provided by the National Oceanic and Atmospheric Administration based on readings from Newark Liberty International Airport. Comparisons to normal are based on twenty years of historic data.

Attachment 6

Nuclear Generation Measures

(Unaudited)

	GWh Breakdown				GWh Breakdown
	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Nuclear - NJ		4,178		4,872		9,515		10,366
Nuclear - PA		2,828		2,855		5,692		5,741
		7,006		7,727		15,207		16,107

Attachment 7

Public Service Enterprise Group Incorporated

Statistical Measures

(Unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024			2023
Weighted Average Common Shares Outstanding (millions)
Basic		498		497		498			497
Diluted		500		500		500			500
Stock Price at End of Period					$	73.70		$	62.61
Dividends Paid per Share of Common Stock	$	0.60	$	0.57	$	1.20		$	1.14
Dividend Yield						3.3	%		3.6	%
Book Value per Common Share					$	31.79		$	30.29
Market Price as a Percent of Book Value						232	%		207	%

Attachment 8

Public Service Enterprise Group Incorporated

Consolidated Operating Earnings (non-GAAP) Reconciliation

Reconciling Items	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
	($ millions, Unaudited)
Net Income	$	434		$	591		$	966		$	1,878
(Gain) Loss on Nuclear Decommissioning Trust (NDT)
Fund Related Activity, pre-tax		(13	)		(58	)		(108	)		(100	)
(Gain) Loss on Mark-to-Market (MTM), pre-tax(a)		(159	)		(296	)		99			(1,068	)
Lease Related Activity, pre-tax		—			—			(4	)		—
Exit Incentive Program (EIP), pre-tax		—			9			—			20
Income Taxes related to Operating Earnings (non-GAAP) reconciling items(b)		51			105			17			316
Operating Earnings (non-GAAP)	$	313		$	351		$	970		$	1,046
PSEG Fully Diluted Average Shares Outstanding (in millions)		500			500			500			500
	($ Per Share Impact -Diluted, Unaudited)
Net Income	$	0.87		$	1.18		$	1.93		$	3.76
(Gain) Loss on NDT Fund Related Activity, pre-tax		(0.03	)		(0.12	)		(0.22	)		(0.20	)
(Gain) Loss on MTM, pre-tax(a)		(0.32	)		(0.59	)		0.20			(2.14	)
Lease Related Activity, pre-tax		—			—			(0.01	)		—
EIP, pre-tax		—			0.02			—			0.04
Income Taxes related to Operating Earnings (non-GAAP) reconciling items(b)		0.11			0.21			0.04			0.63
Operating Earnings (non-GAAP)	$	0.63		$	0.70		$	1.94		$	2.09

(a) Includes the financial impact from positions with forward delivery months.

(b) Income tax effect calculated at the statutory rate except for qualified NDT related activity, which records an additional 20% trust tax on income (loss) from qualified NDT Funds, and lease related activity.

Attachment 9

PSE&G Operating Earnings (non-GAAP) Reconciliation

Reconciling Items	Three Months Ended June 30,					Six Months Ended June 30,
	2024		2023			2024		2023
	($ millions, Unaudited)
Net Income	$	302	$	336		$	790	$	823
EIP, pre-tax		—		7			—		14
Income Taxes related to Operating Earnings (non-GAAP) reconciling items(b)		—		(2	)		—		(4	)
Operating Earnings (non-GAAP)	$	302	$	341		$	790	$	833
PSEG Fully Diluted Average Shares Outstanding (in millions)		500		500			500		500

PSEG Power & Other Operating Earnings (non-GAAP) Reconciliation

Reconciling Items	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
	($ millions, Unaudited)
Net Income	$	132		$	255		$	176		$	1,055
(Gain) Loss on NDT Fund Related Activity, pre-tax		(13	)		(58	)		(108	)		(100	)
(Gain) Loss on MTM, pre-tax(a)		(159	)		(296	)		99			(1,068	)
Lease Related Activity, pre-tax		—			—			(4	)		—
EIP, pre-tax		—			2			—			6
Income Taxes related to Operating Earnings (non-GAAP) reconciling items(b)		51			107			17			320
Operating Earnings (non-GAAP)	$	11		$	10		$	180		$	213
PSEG Fully Diluted Average Shares Outstanding (in millions)		500			500			500			500

(a) Includes the financial impact from positions with forward delivery months.

(b) Income tax effect calculated at the statutory rate except for qualified NDT related activity, which records an additional 20% trust tax on income (loss) from qualified NDT Funds, and lease related activity.

EX-99.1

Exhibit 99.1 Public Service Enterprise Group SECOND QUARTER 2024 NYSE: PEG Financial Results Presentation July 30, 2024

PSEG Second Quarter 2024 Forward-Looking Statements Certain of the matters discussed in this presentation about our and our subsidiaries’ future • development, adoption and use of Artificial Intelligence by us and our third-party vendors; • fluctuations in, or third-party default risk in wholesale power and natural gas markets, performance, including, without limitation, future revenues, earnings, strategies, prospects, including the potential impacts on the economic viability of our generation units; consequences, and all other statements that are not purely historical constitute “forward-looking • our ability to obtain adequate nuclear fuel supply; statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such • changes in technology related to energy generation, distribution and consumption and forward-looking statements are subject to risks and uncertainties, which could cause actual changes in customer usage patterns; • third-party credit risk relating to our sale of nuclear generation output and purchase of results to differ materially from those anticipated. Such statements are based on management’s nuclear fuel; beliefs as well as assumptions made by and information currently available to management. • any inability to meet our commitments under forward sale obligations and Regional When used herein, the words “anticipate,” “intend,” “estimate,” “believe,” “expect,” “plan,” Transmission Organization rules; “should,” “hypothetical,” “potential,” “forecast,” “project,” variations of such words and similar • the impact of changes in state and federal legislation and regulations on our business, including PSE&G’s ability to recover costs and earn returns on authorized investments; expressions are intended to identify forward-looking statements. Factors that may cause actual • PSE&G’s proposed investment projects or programs may not be fully approved by results to differ are often presented with the forward-looking statements themselves. Other factors regulators and its capital investment may be lower than planned; that could cause actual results to differ materially from those contemplated in any forward-looking • our ability to receive sufficient financial support for our New Jersey nuclear plants from statements made by us herein are discussed in filings we make with the United States Securities the markets, production tax credit and/or zero emission certificates program; • adverse changes in and non-compliance with energy industry laws, policies, regulations and Exchange Commission (SEC), including our Annual Report on Form 10-K and subsequent and standards, including market structures and transmission planning and transmission reports on Form 10-Q and Form 8-K. These factors include, but are not limited to: returns; • any inability to successfully develop, obtain regulatory approval for, or construct • risks associated with our ownership and operation of nuclear facilities, including transmission and distribution, and our nuclear generation projects; increased nuclear fuel storage costs, regulatory risks, such as compliance with the • the physical, financial and transition risks related to climate change, including risks relating Atomic Energy Act and trade control, environmental and other regulations, as well as to potentially increased legislative and regulatory burdens, changing customer preferences operational, financial, environmental and health and safety risks; and lawsuits; • changes in federal and state environmental laws and regulations and enforcement; • any equipment failures, accidents, critical operating technology or business system • delays in receipt of, or an inability to receive, necessary licenses and permits and siting failures, natural disasters, severe weather events, acts of war, terrorism or other acts of approvals; and violence, sabotage, physical attacks or security breaches, cyberattacks or other incidents • changes in tax laws and regulations. that may impact our ability to provide safe and reliable service to our customers; • any inability to recover the carrying amount of our long-lived assets; All of the forward-looking statements made in this report are qualified by these cautionary • disruptions or cost increases in our supply chain, including labor shortages; statements and we cannot assure you that the results or developments anticipated by • any inability to maintain sufficient liquidity or access sufficient capital on commercially management will be realized or even if realized, will have the expected consequences to, or reasonable terms; • the impact of cybersecurity attacks or intrusions or other disruptions to our information effects on, us or our business, prospects, financial condition, results of operations or cash flows. technology, operational or other systems; Readers are cautioned not to place undue reliance on these forward-looking statements in • a material shift away from natural gas toward increased electrification and a reduction in making any investment decision. Forward-looking statements made in this report apply only as the use of natural gas; of the date of this report. While we may elect to update forward-looking statements from time to • failure to attract and retain a qualified workforce; • increases in the costs of equipment, materials, fuel, services and labor; time, we specifically disclaim any obligation to do so, even in light of new information or future • the impact of our covenants in our debt instruments and credit agreements on our events, unless otherwise required by applicable securities laws. business; • adverse performance of our defined benefit plan trust funds and Nuclear Decommissioning The forward-looking statements contained in this report are intended to qualify for the safe Trust Fund and increases in funding requirements and pension costs; harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of • any inability to extend certain significant contracts on terms acceptable to us; the Securities Exchange Act of 1934, as amended. 2 2

PSEG Second Quarter 2024 GAAP Disclaimer PSEG presents Operating Earnings in addition to its Net Income Net Income, which is an indicator of financial performance reported in accordance with accounting principles generally determined in accordance with GAAP. In addition, non-GAAP accepted in the United States (GAAP). Operating Earnings is a Operating Earnings as presented in this release may not be non-GAAP financial measure that differs from Net Income. Non- comparable to similarly titled measures used by other GAAP Operating Earnings exclude the impact of gains (losses) companies. associated with the Nuclear Decommissioning Trust (NDT), Due to the forward-looking nature of non-GAAP Operating Mark-to-Market (MTM) accounting and other material infrequent Earnings guidance, PSEG is unable to reconcile this non-GAAP items. The last two slides in this presentation (Slides A and B) financial measure to the most directly comparable GAAP include a list of items excluded from Net Income to reconcile to financial measure because comparable GAAP measures are not non-GAAP Operating Earnings with a reference to those slides reasonably accessible or reliable due to the inherent difficulty in included on each of the slides where the non-GAAP information forecasting and quantifying measures that would be required for appears. such reconciliation. Namely, we are not able to reliably project Management uses non-GAAP Operating Earnings in its internal without unreasonable effort MTM and NDT gains (losses), for analysis, and in communications with investors and analysts, as future periods due to market volatility. These items are a consistent measure for comparing PSEG’s financial uncertain, depend on various factors, and may have a material performance to previous financial results. The presentation of impact on our future GAAP results. non-GAAP Operating Earnings is intended to complement, and should not be considered an alternative to, the presentation of From time to time, PSEG and PSE&G release important information via postings on their corporate Investor Relations website at https://investor.pseg.com. Investors and other interested parties are encouraged to visit the Investor Relations website to review new postings. You can sign up for automatic email alerts regarding new postings at the bottom of the webpage at https://investor.pseg.com or by navigating to the Email Alerts webpage here. The information on https://investor.pseg.com and https://investor.pseg.com/resources/email-alerts/default.aspx is not incorporated herein and is not part of this communication or the Form 8-K to which it is an exhibit. 3 3

PSEG Second Quarter 2024 PSEG Q2 2024 Highlights Second Quarter Results • Net Income of $0.87 per share • Non-GAAP Operating Earnings* of $0.63 per share • PSE&G non-GAAP Operating Earnings* driven by higher regulated investments, offset by higher O&M, and depreciation and interest expense not yet reflected in rates • PSEG Power & Other non-GAAP Operating Earnings* reflect the positive impact of the nuclear PTC, partly offset by higher interest and tax expense and the scheduled refueling at our 100%-owned Hope Creek nuclear plant Operational Excellence • PSE&G electric and gas operations withstood June heat wave and April earthquake in New Jersey with minimal system disruption • CEF-EC/AMI installations on schedule and on budget with more than 2 million smart meters in-service • PSEG Nuclear completed Spring refueling outage at HC Disciplined Investment • PSE&G invested approximately $0.9 billion in Q2; on track for 2024’s planned $3.4 billion capital investment program • BPU approved a 6-month extension of existing CEF-EE Program investment of ~$300M beginning July 2024 • Regulated capital investment program for 2024 - 2028 of $18 billion - $21 billion focused on infrastructure modernization and energy efficiency initiatives * See Slides A and B for Items excluded from Net Income to reconcile to Operating Earnings (non-GAAP) for PSEG, PSE&G and PSEG Power & Other. 4 4 Note: PSEG Power & Other includes nuclear generating fleet, gas supply operations, PSEG Long Island, Offshore wind lease area, competitively bid regulated transmission investments, potential hydrogen investments, Parent and other.

PSEG Second Quarter 2024 PSEG Outlook Reaffirmed • PSEG full-year 2024 non-GAAP Operating Earnings guidance $3.60 to $3.70 of $3.60 to $3.70 per share reaffirmed Growth in earnings • $18B - $21B regulated capital investment program over 2024-2028 influenced by the • 5-year capex plan supports Rate Base CAGR of 6% - 7.5% over the 2024-2028 period $3.48 following drivers: • Utility rate base growth • PSEG’s improved business mix increases predictability and drives our non-GAAP net of investment-related earnings growth rate of 5% - 7% through 2028 expense pending rate case resolution • Carbon-free nuclear fleet with predictable cash flows stabilized by the PTC, which took • Nuclear PTC benefit effect January 1, 2024, with multiple growth paths with modest investment • Incremental Parent interest expense • Solid balance sheet supports execution of 5-year capex plan with no new equity or asset sales needed to fund the plan • Indicative annual dividend rate for 2024 increased $0.12 per share over 2023* • PSE&G retains favorable “share of wallet” for combined residential bills: 2024E Non-GAAP 2023 Non-GAAP √ Electric bills are below regional peer average Operating Earnings Operating Earnings √ Gas bills are the lowest in the region Guidance Guidance for 2024 is consistent with PSEG’s non-GAAP Operating Earnings growth outlook of 5% - 7% through 2028 5 5 * All future decisions and declarations regarding dividends on the common stock are subject to approval by the Board of Directors. $ / share

PSEG Second Quarter 2024 Q2 2024 Review 6

PSEG Second Quarter 2024 PSEG Q2 Results PSEG EPS Summary – Three Months ended June 30, Net Income 2024 2023 Change PSE&G $0.60 $0.67 $(0.07) PSEG Power & Other $0.27 $0.51 $(0.24) Total PSEG $0.87 $1.18 $(0.31) Non-GAAP Operating Earnings* 2024 2023 Change PSE&G $0.60 $0.68 $(0.08) PSEG Power & Other $0.03 $0.02 $0.01 Total PSEG $0.63 $0.70 $(0.07) 7 7 * See Slides A and B for Items excluded from Net Income to reconcile to Operating Earnings (non-GAAP) for PSEG, PSE&G and PSEG Power & Other.

PSEG Second Quarter 2024 PSEG EPS Reconciliation – Q2 2024 versus Q2 2023 $1.20 $1.18 $1.05 $1.05 $0.90 $0.87 ~ ~ $0.75 $0.70 ($0.08) $0.01 $0.63 $0.60 Transmission (0.02) Gross Margin and PTC** 0.08 Renewables & Energy Efficiency 0.01 O&M (0.05) $0.45 Electric Margin 0.02 Interest (0.01) Other Distribution Margin Taxes & Other 0.02 (0.01) Distribution O&M (0.04) $0.30 Distribution Depreciation & Interest (0.03) Distribution Non-Operating $0.15 Pension/OPEB (0.01) Distribution Taxes & Other (0.03) $0.00 Q2 2023 Q2 2023 PSE&G PSEG Power & Other Q2 2024 Q2 2024 Net Income Operating Earnings Operating Earnings Net Income (non-GAAP)* (non-GAAP)* * See Slides A and B for Items excluded from Net Income to reconcile to Operating Earnings (non-GAAP) for PSEG, PSE&G and PSEG Power & Other. ** In 2024, PSEG recorded the benefit of the estimated PTCs within Income Tax Expense in its Consolidated Statements of Operations in accordance with Accounting Standards Codification Topic 740, Income Taxes. 8 8 Note: Results may not add due to rounding. $ / share

PSEG Second Quarter 2024 PSEG First Half Results PSEG EPS Summary – Six Months ended June 30, Net Income 2024 2023 Change PSE&G $1.58 $1.65 $(0.07) PSEG Power & Other $0.35 $2.11 $(1.76) Total PSEG $1.93 $3.76 $(1.83) Non-GAAP Operating Earnings* 2024 2023 Change PSE&G $1.58 $1.67 $(0.09) PSEG Power & Other $0.36 $0.42 $(0.06) Total PSEG $1.94 $2.09 $(0.15) 9 9 * See Slides A and B for Items excluded from Net Income to reconcile to Operating Earnings (non-GAAP) for PSEG, PSE&G and PSEG Power & Other.

PSEG Second Quarter 2024 PSEG EPS Reconciliation – First Half 2024 versus First Half 2023 $4.00 $2.75 $3.76 $3.75 $2.50 ~ ~ $2.25 $2.09 ($0.09) ($0.06) $1.94 $1.93 $2.00 Transmission 0.01 Gross Margin and Renewables & PTC** 0.10 $1.75 Energy Efficiency 0.02 O&M (0.08) Electric Margin 0.02 $1.50 Interest (0.02) Gas Margin 0.02 Taxes & Other Other Distribution Margin $1.25 (0.06) 0.04 Distribution O&M (0.09) $1.00 Distribution Depreciation & Interest (0.07) $0.75 Distribution Non-Operating Pension/OPEB (0.02) $0.50 Distribution Taxes & Other (0.02) $0.25 $0.00 YTD 2023 YTD 2023 PSE&G PSEG Power & Other YTD 2024 YTD 2024 Net Income Operating Earnings Operating Earnings Net Income (non-GAAP)* (non-GAAP)* * See Slides A and B for Items excluded from Net Income to reconcile to Operating Earnings (non-GAAP) for PSEG, PSE&G and PSEG Power & Other. ** In 2024, PSEG recorded the benefit of the estimated PTCs within Income Tax Expense in its Consolidated Statements of Operations in accordance with Accounting Standards Codification Topic 740, Income Taxes. 10 10 Note: Results may not add due to rounding. $ / share

PSEG Second Quarter 2024 PSE&G Q2 2024 Highlights Operations Regulatory and Market Environment • Residential Electric and Gas customer count, a driver of margin growth • BPU approved a 6-month extension of existing CEF-EE Program under the Conservation Incentive Program (CIP), each grew by ~1% investment of ~$300M beginning July 2024 for the trailing 12 months ended June 30, 2024 • BPU approved the recovery of all COVID-related deferrals, including • CIP minimizes margin volatility due to variations in sales, regardless of the carrying costs, over a five-year period beginning in 2025 sales driver (weather, energy efficiency, net-metered solar, economy) • PSE&G submitted annual BGSS filing to reduce the gas supply commodity • Weather-normalized sales for the trailing 12 months ended June 30: charge to ~$0.33 per therm beginning October 2024; the gas commodity charge was reduced twice in 2023 from $0.65 per therm to $0.40 per therm - Electric sales were flat - Gas sales increased by ~1% Financial • PSE&G invested ~$0.9 billion in Q2 and ~$1.7 billion year-to-date, on track • PSE&G replaced ~140 miles of gas main and ~13,640 associated gas to invest ~$3.4 billion planned for full year 2024 services to homes and businesses under gas main replacement program • CEF-EC/AMI completed installations of more than 2 million of the 2.3 million meter replacements planned by end of 2024 11

PSEG Second Quarter 2024 PSEG Power & Other Other Financial Considerations Nuclear Generation Measures Three Months Ended Six Months Ended • For 2024, total nuclear generation is forecasted to be 30-32 TWh June 30, June 30, • Nuclear fuel commitments cover ~100% of estimated uranium, 2024 2023 2024 2023 enrichment and fabrication requirements through 2026 and a Capacity Factor 82.7% 91.6% 89.8% 96.0% significant portion through 2027 Fuel Cost ($ millions) $42 $46 $93 $94 • PSEG Nuclear’s realized energy price most historically aligned Generation (GWh) 7,006 7,727 15,207 16,107 with the PECO hub Fuel Cost ($/MWh) $5.99 $5.95 $6.12 $5.84 • Transitioning PSEG’s 100%-owned HC unit from 18-month to 2024: Spring – HC Fall – S2, PB2 Refueling Outages: 24-month fuel cycles starting in 2025 2023: Spring – S2 Fall – S1, PB3 • In April, PSEG retired $500 million of 364-day variable rate PJM Capacity Auction Results term loan at maturity Delivery Period PSEG’s Average Prices PSEG’s Cleared Capacity • In June, PSEG retired $750 million of 2.88% Senior Notes Jan 2024 – May 2024 $50/MW-Day 3,700 MW at maturity Jun 2024 – May 2025 $61/MW-Day 3,700 MW 12 12 Note: Generation indicates period net generation; Average Prices and Cleared Capacity reflect base and incremental auctions.

PSEG Second Quarter 2024 Appendix 13

PSEG Second Quarter 2024 PSEG Maintains a Solid Financial Position PSEG Public Service Electric & Gas PSEG Senior Unsecured Credit Ratings PSE&G Senior Secured Credit Ratings Moody’s = Baa2 / Outlook = Stable S&P = BBB / Outlook = Stable Moody’s = A1 / Outlook = Stable S&P = A / Outlook = Stable PSEG Long-term Debt Outstanding $4.86B PSE&G Long-term Debt Outstanding $14.41B PSEG Consolidated Debt to Capitalization 57% PSEG Maturity Profile 2024 - 2028 PSEG Power Issuer Credit Ratings 2,500 Moody’s = Baa2 / Outlook = Stable S&P = BBB / Outlook = Stable 2,000 (1) PSEG Power Long-term Debt Outstanding $1.25B 1,500 1,000 PSEG Liquidity 500 • PSEG had approximately $3.1B of total available liquidity, including $113M 0 PSEG Liquidity and Net Cash Collateral Postings of cash and cash equivalents, at June 30, 2024 2024 2025 2026 2027 2028 • As of June 30, 2024, PSEG had minimal variable rate debt PSE&G PSEG Power PSEG All data is as of 6/30/2024 unless otherwise noted. (1) PSEG Power long-term debt is at a variable rate. As of 6/30/2024, PSEG had entered into floating-to-fixed interest rate swaps totaling $1.25B to reduce the volatility in interest expense for our variable rate debt on our $1.25B term loan due March 2025 at PSEG Power. Note: Total long-term debt outstanding amounts may not add to PSEG Consolidated total long-term debt outstanding due to rounding. Amounts on slide are rounded up to two decimal places. 14 14 Principal Maturing ($ Millions)

PSEG Second Quarter 2024 PSEG Liquidity as of June 30, 2024 Expiration Total Available Company Facility Usage Date Facility Liquidity ($ millions) PSE&G Revolving Credit Facility March 2028 $1,000 $411 $589 PSEG Money Pool (A,B) PSEG/PSEG Power Revolving Credit Facility (PSEG) March 2028 $1,500 $504 $996 (A) Revolving Credit Facility (PSEG Power) March 2028 1,250 39 1,211 Letter of Credit Facility (PSEG Power) April 2026 75 45 30 Letter of Credit Facility (PSEG Power) September 2024 200 77 123 $3,025 $665 $2,360 Total Facilities $4,025 $1,076 $2,949 PSEG Money Pool Cash and Short-term Investments $98 PSE&G Cash and Short-term Investments $15 Total Liquidity Available $3,062 Total Money Pool Liquidity Available $2,458 (A) Master Facility of $2.75B with a PSEG sub-limit of $1.5B and PSEG Power sub-limit of $1.25B, which can be adjusted subject to terms within the credit agreement. 15 15 (B) The PSEG sub-limit includes a sustainability linked pricing-based mechanism with potential increases or decreases, which are not expected to be material, depending on performance relative to targeted methane emission reductions.

PSEG Second Quarter 2024 PSEG Sustainability and ESG Summary PSEG Leadership Policies & Goals Recognition & Memberships • PSEG is a vocal advocate for the • PSE&G’s Clean Energy Future programs have • MSCI rates PSEG at AAA, its highest preservation of our existing carbon-free invested ~$2B through year end 2023 to corporate ESG rating nuclear generating fleet decarbonize the NJ economy via Energy • PSEG named to the Dow Jones Sustainability Efficiency, EV infrastructure, and AMI • Committed to rigorous oversight of political North America Index for 16 years in a row contributions and transparency in disclosure • PSEG continues to maintain its three-prong • PSE&G awarded 2024 ENERGY STAR® climate vision, including producing carbon-free • PSEG oversight of sustainability and climate Partner of the Year for Sustained Excellence energy, reducing GHG emissions from operations initiatives by Board of Directors’ Governance, and enabling the low-carbon transition to support • PSEG named to Newsweek - America’s Nominating and Sustainability Committee economy-wide decarbonization Greatest Workplaces for Diversity 2024 • Human Rights Policy • PSEG’s generating fleet is a Top 10 U.S. • PSEG named Member of S&P Global’s 2024 $0.40 -$0.45 • LGBTQ+ Inclusion Pledge Sustainability Yearbook producer of carbon-free energy • PSEG’s business strategy is aligned with • PSE&G received the PA Consulting • PSE&G has invested ~$1B in regulated solar ® many of the United Nations’ Sustainable ReliabilityOne Award for Outstanding initiatives Development Goals Metropolitan Service Area Reliability • PSE&G has issued $1.4 billion of Green Bonds Performance in the Mid-Atlantic Region for Link to PSEG’s 2023 Sustainability Report * nd and PSEG sub-limit of master credit facility 22 consecutive year and the 2023 includes sustainability-linked pricing mechanism ReliabilityOne® Outstanding Customer Engagement Award • PSEG named to 2023 CPA-Zicklin Index “Trendsetters” with a score of 90 out of a possible 100 for Corporate Political Disclosure practices and Accountability 16 * The 2023 Sustainability Report should not be deemed incorporated into or part of these slides.

PSEG Second Quarter 2024 Glossary of Terms A/C Air Conditioning GAAP Generally Accepted Accounting Principles PSEG Investor Relations 80 Park Plaza AMI Automated Metering Infrastructure GHG Greenhouse Gas Newark NJ 07102 HC Hope Creek BGSS Basic Gas Supply Service PSEG-IR-GeneralInquiry@pseg.com MSCI Morgan Stanley Capital International BPU New Jersey Board of Public Utilities O&M Operation & Maintenance CAGR Compound Annual Growth Rate Link to PSEG Investor Relations Website OPEB Other Postretirement Benefits CEF Clean Energy Future PB Peach Bottom CIP Conservation Incentive Program E Estimate PECO PECO Energy Company Link to PSEG ESG Webpages PJM Pennsylvania New Jersey Maryland EC Energy Cloud PTC Production Tax Credit EE Energy Efficiency S Salem EPS Earnings Per Share The information on the PSEG Investor ESG Environmental, Social and Governance Relations Website and the PSEG ESG EV Electric Vehicle Webpages is not incorporated herein and is not part of this slide presentation or the Form 8-K to which it is an exhibit. 17 17

PSEG Second Quarter 2024 Reconciliation of Non-GAAP Operating Earnings Public Service Enterprise Group Incorporated - Consolidated Operating Earnings (non-GAAP) Reconciliation Three Months Ended Six Months Ended (a) Includes the financial impact from positions with forward delivery months. June 30, June 30, Reconciling Items 2024 2023 2024 2023 (b) Income tax effect calculated at the statutory rate except for qualified NDT related activity, which ($ millions, Unaudited) records an additional 20% trust tax on income (loss) from qualified NDT Funds, and lease related activity. Net Income $ 434 $ 591 $ 966 $ 1,878 (Gain) Loss on Nuclear Decommissioning Trust (NDT) Please see Slide 3 for an explanation of PSEG’s use of Operating Earnings as a non-GAAP financial measure Fund Related Activity, pre-tax (13) (58) (108) (100) and how it differs from Net Income. (a) (Gain) Loss on Mark-to-Market (MTM), pre-tax (159) (296) 99 (1,068) Lease Related Activity, pre-tax - - (4) - Exit Incentive Program (EIP), pre-tax - 9 - 20 (b) Income Taxes related to Operating Earnings (non-GAAP) reconciling items 51 105 17 316 Operating Earnings (non-GAAP) $ 313 $ 351 $ 970 $ 1,046 PSEG Fully Diluted Average Shares Outstanding (in millions) 500 500 500 500 ($ Per Share Impact - Diluted, Unaudited) Net Income $ 0.87 $ 1.18 $ 1 .93 $ 3.76 (Gain) Loss on NDT Fund Related Activity, pre-tax (0.03) ( 0.12) (0.22) ( 0.20) (a) (Gain) Loss on MTM, pre-tax (0.32) ( 0.59) 0.20 (2.14) Lease Related Activity, pre-tax - - (0.01) - EIP, pre-tax - 0.02 - 0.04 (b) Income Taxes related to Operating Earnings (non-GAAP) reconciling items 0.11 0.21 0.04 0.63 Operating Earnings (non-GAAP) $ 0.63 $ 0.70 $ 1.94 $ 2.09 A 18 18

PSEG Second Quarter 2024 Reconciliation of Non-GAAP Operating Earnings PSE&G Operating Earnings (non-GAAP) Reconciliation Three Months Ended Six Months Ended Reconciling Items June 30, June 30, 2024 2023 2024 2023 ($ millions, Unaudited) Net Income $ 302 $ 336 $ 790 $ 823 EIP, pre-tax - 7 - 14 (b) Income Taxes related to Operating Earnings (non-GAAP) reconciling items - (2) - (4) Operating Earnings (non-GAAP) $ 302 $ 341 $ 790 $ 833 PSEG Fully Diluted Average Shares Outstanding (in millions) 500 500 500 500 PSEG Power & Other Operating Earnings (non-GAAP) Reconciliation (a) Includes the financial impact from positions with Three Months Ended Six Months Ended forward delivery months. Reconciling Items June 30, June 30, 2024 2023 2024 2023 (b) Income tax effect calculated at the statutory rate except for qualified NDT related activity, which ($ millions, Unaudited) records an additional 20% trust tax on income (loss) from qualified NDT Funds, and lease related activity. Net Income $ 132 $ 255 $ 176 $ 1,055 (Gain) Loss on NDT Fund Related Activity, pre-tax (13) (58) (108) ( 100) Please see Slide 3 for an explanation of PSEG’s use of (a) (Gain) Loss on MTM, pre-tax (159) ( 296) 99 (1,068) Operating Earnings as a non-GAAP financial measure and how it differs from Net Income. Lease Related Activity, pre-tax - - (4) - EIP, pre-tax - 2 - 6 (b) Income Taxes related to Operating Earnings (non-GAAP) reconciling items 51 107 17 320 Operating Earnings (non-GAAP) $ 11 $ 10 $ 180 $ 213 PSEG Fully Diluted Average Shares Outstanding (in millions) 500 500 500 500 B 19 19

XML

Cover Page	Jul. 30, 2024
Entity Information [Line Items]
Entity Registrant Name	Public Service Enterprise Group Incorporated
Amendment Flag	false
Entity Central Index Key	0000788784
Document Type	8-K
Document Period End Date	Jul. 30, 2024
Entity Incorporation State Country Code	NJ
Entity File Number	001-09120
Entity Tax Identification Number	22-2625848
Entity Address, Address Line One	80 Park Plaza
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	973
Local Phone Number	430-7000
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Public Service Electric and Gas Company [Member]
Entity Information [Line Items]
Entity Registrant Name	Public Service Electric and Gas Company
Amendment Flag	false
Entity Central Index Key	0000081033
Entity Incorporation State Country Code	NJ
Entity File Number	001-00973
Entity Tax Identification Number	22-1212800
Entity Address, Address Line One	80 Park Plaza
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	973
Local Phone Number	430-7000
Common Stock without par value [Member]
Entity Information [Line Items]
Security 12b Title	Common Stock without par value
Trading Symbol	PEG
Security Exchange Name	NYSE
8.00% First and Refunding Mortgage Bonds, due 2037 [Member] | Public Service Electric and Gas Company [Member]
Entity Information [Line Items]
Security 12b Title	8.00% First and Refunding Mortgage Bonds, due 2037
Trading Symbol	PEG37D
Security Exchange Name	NYSE
5.00% First and Refunding Mortgage Bonds, due 2037 [Member] | Public Service Electric and Gas Company [Member]
Entity Information [Line Items]
Security 12b Title	5.00% First and Refunding Mortgage Bonds, due 2037
Trading Symbol	PEG37J
Security Exchange Name	NYSE