Exhibit 99.1

Contact:	Dan Eggers
	Investor Relations
	312-394-2345
	Paul Adams
	Corporate Communications
	410-470-4167

EXELON REPORTS SECOND QUARTER 2017 RESULTS

Earnings Release Highlights

• GAAP Net Income of $0.09 per share and Adjusted Operating Earnings of $0.54 per share for the second quarter of 2017

• Reaffirming full year 2017 Adjusted Operating Earnings guidance of $2.50 to $2.80 per share

• Strong utility performance to the benefit of our customers, with every utility achieving top quartile CAIDI performance as well as BGE and ComEd achieving their best ever SAIFI performance

• Courts grant motions to dismiss legal challenges to the ZEC programs in Illinois and New York, preserving the economic and environmental benefits of this carbon-free generation

• Exelon Nuclear completed six refueling outages with fewer unplanned outage days than a year ago

• Two new combined-cycle gas turbines totaling nearly 2,200 MWs in Texas went into service, on-time and on-budget

CHICAGO (Aug. 2, 2017) — Exelon Corporation (NYSE: EXC) today reported its financial results for the second quarter 2017.

“Exelon delivered a strong second quarter for our shareholders and customers as we continued to make gains in reliability, customer service and operational performance across our business,” said Christopher M. Crane, Exelon’s president and CEO. “Exelon can continue to provide reliable and affordable carbon-free power while preserving high-value jobs thanks to the dismissal of challenges to Zero Emissions Credit programs by courts in Illinois and New York, a win for our customers, the

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economy and the environment. We also were recognized with several leadership awards including being one of only 27 companies in the Billion Dollar Roundtable, recognizing our nearly $2 billion of spending with diverse and minority-owned businesses. We were also named to the Points of Light Civic 50 list of the most community-minded companies, a true credit to our people who give back their time and resources volunteering in the communities where we work and live.”

“Exelon once again delivered strong financial performance with non-GAAP operating earnings of $0.54 per share, which is toward the upper end of our guidance range,” said Jonathan W. Thayer, Exelon’s senior executive vice president and CFO. “Exelon remains on track to meet our full-year guidance of $2.50-2.80 per share as well as our debt reduction targets.”

Second Quarter 2017

Exelon’s GAAP Net Income for the second quarter 2017 decreased to $0.09 per share from $0.29 per share in the second quarter of 2016; Adjusted (non-GAAP) Operating Earnings decreased to $0.54 per share in the second quarter of 2017 from $0.65 per share in the second quarter of 2016. For the reconciliations of GAAP to Adjusted (non-GAAP) Operating Earnings, refer to the tables beginning on [page 7].

Adjusted (non-GAAP) Operating Earnings in the second quarter of 2017 reflect the conclusion of the Ginna reliability support services agreement, increased nuclear outage days and lower realized energy prices, partially offset by Zero Emission Credit revenue related to the New York Clean Energy Standard and higher utility earnings due to regulatory rate increases.

Operating Company Results¹

ComEd

ComEd’s second quarter 2017 GAAP Net Income was $118 million compared with $145 million in the second quarter of 2016. ComEd’s Adjusted (non-GAAP) Operating Earnings for the second quarter 2017 were $141 million compared with $146 million in the second quarter of 2016, primarily due to favorable weather conditions in 2016, partially offset by higher electric distribution and transmission formula rate earnings. Pursuant to the Illinois Future Energy Jobs Act, beginning in 2017, customer rates for ComEd are adjusted to eliminate the favorable and unfavorable impacts of weather and customer usage patterns on distribution volumes.

¹  Exelon’s five business units include ComEd, which consists of electricity transmission and distribution operations in northern Illinois; PECO, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in southeastern Pennsylvania, BGE, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in central Maryland; PHI, which consists of electricity transmission and distribution operations in the District of Columbia and portions of Maryland, Delaware, and New Jersey and retail natural gas distribution operations in northern Delaware; and Generation, which consists of owned and contracted electric generating facilities and wholesale and retail customer supply of electric and natural gas products and services, including renewable energy products and risk management services.

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PECO

PECO’s second quarter 2017 GAAP Net Income was $88 million compared with $100 million in the second quarter of 2016. PECO’s Adjusted (non-GAAP) Operating Earnings for the second quarter 2017 were $89 million compared with $101 million in the second quarter of 2016, primarily due to unfavorable weather conditions and volumes.

For the second quarter of 2017, heating degree days were down 29.9 percent relative to the same period in 2016 and were 28.9 percent below normal. Cooling degree days were up 6.1 percent relative to the same period in 2016 and were 19.3 percent above normal. Total retail electric deliveries remained relatively consistent in the second quarter of 2017 compared with the same period in 2016. Natural gas deliveries (including both retail and transportation segments) in the second quarter of 2017 were down 3.0 percent compared with the same period in 2016.

Weather-normalized retail electric deliveries remained relatively consistent, while weather-normalized natural gas deliveries were up 5.3 percent in the second quarter of 2017 compared with the same period in 2016.

BGE

BGE’s second quarter 2017 GAAP Net Income was $45 million compared with $31 million in the second quarter of 2016. BGE’s Adjusted (non-GAAP) Operating Earnings for the second quarter 2017 were $46 million compared with $29 million in the second quarter of 2016, primarily due to the absence of 2016 charges for certain disallowances contained in June and July 2016 rate case orders and the net impact of approved rate increases. Due to revenue decoupling, BGE is not affected by actual weather.

PHI

PHI’s second quarter 2017 GAAP Net Income was $66 million compared with $52 million in the second quarter of 2016. PHI’s Adjusted (non-GAAP) Operating Earnings for the second quarter 2017 were $63 million compared with $53 million in the second quarter of 2016, primarily due to the impact of approved rate increases in 2016 and 2017. Due to decoupling, PHI’s revenues related to Pepco and DPL Maryland are not affected by actual weather.

Generation

Generation’s second quarter 2017 GAAP Net Loss was $250 million compared with a GAAP Net Loss of $8 million in the second quarter of 2016. Generation’s Adjusted (non-GAAP) Operating Earnings for the second quarter 2017 were $202 million compared with $328 million in the second quarter of 2016, primarily reflecting the conclusion of the Ginna reliability support services agreement, increased nuclear outage days and lower realized energy prices, partially offset by Zero Emission Credit revenue related to the New York Clean Energy Standard.

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The proportion of expected generation hedged as of June 30, 2017 was 96.0 percent to 99.0 percent for 2017, 71.0 percent to 74.0 percent for 2018 and 39.0 percent to 42.0 percent for 2019.

Second Quarter and Recent Highlights

• Early Retirement of Three Mile Island Facility: On May 30, 2017, Exelon announced it will permanently cease generation operations at Three Mile Island Generating Station (TMI) on or about September 30, 2019. In the second quarter of 2017, Exelon and Generation recognized one-time charges in Operating and maintenance expense of $71 million related to materials and supplies inventory reserve adjustments, employee-related costs and construction work-in-progress (CWIP) impairments, among other items. In addition to these one-time charges, there will be ongoing annual incremental non-cash charges to earnings stemming from shortening the expected economic useful life of TMI primarily related to accelerated depreciation of plant assets (including any asset retirement costs (ARC)), accelerated amortization of nuclear fuel, and additional asset retirement obligation (ARO) accretion expense associated with the changes in decommissioning timing and cost assumptions. Exelon’s and Generation’s second quarter 2017 results include an incremental $37 million of pre-tax expense for these items. The aforementioned one-time and incremental charges have been excluded from GAAP Net Income to arrive at Adjusted (non-GAAP) Operating Earnings.

• EGTP Assets Held for Sale Agreement: On May 2, 2017, EGTP entered into a consent agreement with its lenders to permit EGTP to draw on its revolving credit facility and initiate an orderly sales process to sell the assets of its wholly-owned subsidiaries, the proceeds from which will first be used to pay the administrative costs of the sale, the normal and ordinary costs of operating the plants and repayment of the secured debt of EGTP, including the revolving credit facility. As a result, in the second quarter, Exelon and Generation classified certain EGTP assets and liabilities as held for sale at their respective fair values less costs to sell. At June 30, 2017, a $418 million pre-tax impairment loss was recorded within Operating and maintenance expense on Exelon’s and Generation’s Consolidated Statements of Operations and Comprehensive Income.

• District of Columbia Power Line Undergrounding Initiative: The District of Columbia government enacted on an emergency basis (effective May 17, 2017) and thereafter on a permanent basis (effective July 11, 2017) legislation to amend the Electric Company Infrastructure Improvement Financing Act of 2014 (as amended) (the Infrastructure Improvement Financing Act) to authorize the District of Columbia Power Line Undergrounding (DC PLUG) initiative, a projected six year, $500 million project to place underground some of

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the District of Columbia’s most outage-prone power lines with $250 million of the project costs funded by Pepco and $250 million funded by the District of Columbia. The $250 million of project costs funded by Pepco will be recovered from Pepco’s customers in the District of Columbia. Pepco will earn a return on these project costs.The $250 million of project costs funded by the District of Columbia will come from two sources. Project costs of $187.5 million will be funded through a charge assessed on Pepco by the District of Columbia; Pepco will recover this charge from customers. The remaining costs up to $62.5 million are to be funded by the existing capital projects program of the District Department of Transportation (DDOT). Pepco will not recover or earn a return on the cost of these assets.

• Like Kind Exchange: In the third quarter 2016, the United States Tax Court rejected Exelon’s like-kind exchange position and ruled that Exelon was not entitled to defer the gain on the transaction. Exelon expects to timely appeal this decision to the U.S. Court of Appeals for the Seventh Circuit in the second half of 2017. In June of 2017, the IRS finalized its computation of tax, penalties and interest owed by Exelon pursuant to the Tax Court’s decision. As a result of the IRS’s finalization of its computation in the second quarter 2017, Exelon recorded a benefit to earnings of approximately $26 million, consisting of an income tax benefit of $50 million and a reduction of penalties of $2 million, partially offset by after-tax interest expense of $26 million, while ComEd recorded a charge to earnings of approximately $23 million, consisting of income tax expense of $15 million and after-tax interest expense of $8 million. No recovery will be sought from ComEd customers for any interest, penalty or additional income tax payment amounts resulting from the like-kind exchange tax position.

• DPL Delaware Electric and Natural Gas Distribution Rates Case: On March 8, 2017, DPL entered into a settlement agreement with the Division of the Public Advocate, Delaware Electric Users Group and the DPSC Staff in its electric distribution rate proceeding, which provides for an increase in DPL annual electric distribution rates of $31.5 million based on an ROE of 9.7 percent and compared to the $32.1 million increase previously put into effect. On May 23, 2017, the DPSC issued an order approving the settlement agreement, with the new rates effective June 1, 2017. Pursuant to the settlement agreement, no refund of any pre-settlement interim rates put into effect is required.

On April 6, 2017, DPL entered into a settlement agreement with the Division of the Public Advocate and the DPSC Staff in its natural gas distribution rate proceeding, which provides for an increase in DPL annual natural gas distribution rates of $4.9 million based on an ROE of 9.7 percent. On June 6, 2017, the DPSC issued an order approving the settlement agreement, with the new rates effective July 1, 2017. Pursuant to the settlement agreement, a rate refund plus interest of approximately $5 million will be issued to customers beginning in August 2017 for which a regulatory liability has been recorded as of June 30, 2017.

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• DPL Maryland Electric Distribution Rates: On July 14, 2017, DPL filed an application with the MDPSC to increase its annual electric distribution base rates by $27 million based on a requested ROE of 10.1 percent. DPL expects a decision on the matter in the first quarter of 2018. DPL cannot predict how much of the requested increase the MDPSC will approve.

• Pepco District of Columbia Electric Distribution Rate Case: On July 25, 2017, the DCPSC issued an order granting Pepco an increase to its annual electric distribution base rates of $36.9 million effective Aug. 15, 2017, based on an ROE of 9.5 percent. In its decision, the DCPSC ordered that the $25.6 million customer rate credit created as a result of the Exelon and PHI merger will be provided primarily to residential customers and some small commercial customers until that amount has been exhausted, which is expected to be approximately two years. Additionally, the Commission is holding approximately $6 million to $7 million of the customer rate credit for use toward a possible new class of customers for certain senior citizens and disabled persons. The DCPSC also held that Pepco’s bill stabilization adjustment, which decouples distribution revenues from utility customers from the amount of electricity delivered, will continue to be in place and that no refund of previously collected funds is required.

• Nuclear Operations: Generation’s nuclear fleet, including its owned output from the Salem Generating Station and 100 percent of the CENG units, produced 44,065 gigawatt-hours (GWhs) in the second quarter of 2017, compared with 42,453 GWhs in the second quarter of 2016. Excluding Salem, the Exelon-operated nuclear plants at ownership achieved a 90.9 percent capacity factor for the second quarter of 2017, compared with 92.3 percent for the second quarter of 2016. The number of planned refueling outage days in the second quarter of 2017 totaled 125, compared with 87 in the second quarter of 2016. There were 12 non-refueling outage days in the second quarter of 2017, compared with 21 days in the second quarter of 2016.

• Fossil and Renewables Operations: The dispatch match rate for Generation’s gas and hydro fleet was 99.0 percent in the second quarter of 2017, compared with 97.4 percent in the second quarter of 2016. Energy capture for the wind and solar fleet was 95.5 percent in the second quarter of 2017, equal to the performance in the second quarter of 2016.

• Financing Activities:

• On April 3, 2017, Exelon completed the remarketing of $1.15 billion aggregate principal amount of its 2.500 percent Junior Subordinated Notes due 2024, originally issued as components of its equity units issued in June 2014, issuing $1.15 billion aggregate principal amount of 3.497 percent Junior Subordinated Notes due in 2022. Exelon conducted the remarketing on behalf of the holders of equity units and did not directly receive any proceeds therefrom. Instead, Exelon received $1.15 billion on June 1, 2017 upon settlement of the forward equity purchase contract and issued approximately 33 million shares of common stock from treasury stock at the time of settlement.

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• On May 22, 2017, Pepco issued $200 million aggregate principal amount of its 4.150 percent First Mortgage Bonds due in 2043. The proceeds from the sale of the First Mortgage Bonds were used to repay outstanding commercial paper and for general corporate purposes.

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GAAP/Adjusted (non-GAAP) Operating Earnings Reconciliation

Adjusted (non-GAAP) Operating Earnings for the second quarter of 2017 do not include the following items (after tax) that were included in reported GAAP Earnings (Loss):

(in millions)	Exelon Earnings per Diluted Share			Exelon			ComEd		PECO		BGE		PHI			Generation
2017 GAAP Earnings (Loss)	$	0.09		$	80		$	118	$	88	$	45	$	66		$	(250	)
Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $72 and $71, respectively)		0.12			113			—		—		—		—			114
Unrealized Gains Related to NDT Fund Investments (net of taxes of $20)		(0.05	)		(45	)		—		—		—		—			(45	)
Amortization of Commodity Contract Intangibles (net of taxes of $8)		0.01			12			—		—		—		—			12
Merger and Integration Costs (net of taxes of $9, $1 and $7, respectively)		0.01			15			—		—		—		1			12
Merger Commitments (net of taxes of $3)		—			—			—		—		—		(4	)		—
Long-Lived Asset Impairments (net of taxes of $172 and $171, respectively)		0.29			268			—		—		—		—			269
Plant Retirements and Divestitures (net of taxes of $42)		0.07			66			—		—		—		—			66
Cost Management Program (net of taxes of $4, $1, $1 and $3 respectively)		0.01			6			—		1		1		—			4
Like-Kind Exchange Tax Position (net of taxes of $66 and $9, respectively)		(0.03	)		(26	)		23		—		—		—			—
CENG Noncontrolling Interest (net of taxes of $5)		0.02			20			—		—		—		—			20
2017 Adjusted (non-GAAP) Operating Earnings	$	0.54		$	509		$	141	$	89	$	46	$	63		$	202

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Adjusted (non-GAAP) Operating Earnings for the second quarter of 2016 do not include the following items (after tax) that were included in reported GAAP Earnings (Loss):

(in millions)	Exelon Earnings per Diluted Share			Exelon			ComEd		PECO		BGE			PHI		Generation
2016 GAAP Earnings (Loss)	$	0.29		$	267		$	145	$	100	$	31		$	52	$	(8	)
Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $120 and $119, respectively)		0.20			185			—		—		—			—		185
Unrealized Gains Related to NDT Fund Investments (net of taxes of $29)		(0.03	)		(27	)		—		—		—			—		(27	)
Amortization of Commodity Contract Intangibles (net of taxes of $4)		0.01			8			—		—		—			—		8
Merger and Integrations Costs (net of taxes of $0, $0, $2 and $2, respectively)		—			1			1		—		(3	)		—		3
Merger Commitments (entire amount represents tax expense)		—			1			—		—		—			1		—
Long-Lived Asset Impairments (net of taxes of $14)		0.02			22			—		—		—			—		22
Plant Retirements and Divestitures (net of taxes of $85)		0.14			133			—		—		—			—		133
Cost Management Program (net of taxes of $3, $0, $0 and $2, respectively)		0.01			6			—		1		1			—		4
CENG Noncontrolling Interest (net of taxes of $1)		0.01			8			—		—		—			—		8
2016 Adjusted (non-GAAP) Operating Earnings	$	0.65		$	604		$	146	$	101	$	29		$	53	$	328

Note:

Unless otherwise noted, the income tax impact of each reconciling item between GAAP Net Income and Adjusted (non-GAAP) Operating Earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items except the unrealized gains and losses related to NDT fund investments, the marginal statutory income tax rates ranged from 39 percent to 41 percent. Under IRS regulations, NDT fund investment returns are taxed at differing rates for investments in qualified vs. non-qualified funds. The tax rates applied to unrealized gains and losses related to NDT Fund investments were 31.4 percent and 47.5 percent for the three and six months ended June 30, 2017, respectively, and 51.6 percent and 52.5 percent for the three and six months ended June 30, 2016, respectively.

Webcast Information

Exelon will discuss second quarter 2017 earnings in a one-hour conference call scheduled for today at 10 a.m. Central Time (11 a.m. Eastern Time). The webcast and associated materials can be accessed at www.exeloncorp.com/investor-relations.

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About Exelon

Exelon Corporation (NYSE: EXC) is a Fortune 100 energy company with the largest number of utility customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2016 revenue of $31.4 billion. Exelon’s six utilities deliver electricity and natural gas to approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 33,300 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2.2 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Follow Exelon on Twitter @Exelon.

Non-GAAP Financial Measures

In addition to net income as determined under generally accepted accounting principles in the United States (GAAP), Exelon evaluates its operating performance using the measure of Adjusted (non-GAAP) Operating Earnings because management believes it represents earnings directly related to the ongoing operations of the business. Adjusted (non-GAAP) Operating Earnings exclude certain costs, expenses, gains and losses and other specified items. This measure is intended to enhance an investor’s overall understanding of period over period operating results and provide an indication of Exelon’s baseline operating performance excluding items that are considered by management to be not directly related to the ongoing operations of the business. In addition, this measure is among the primary indicators management uses as a basis for evaluating performance, allocating resources, setting incentive compensation targets and planning and forecasting of future periods. Adjusted (non-GAAP) Operating Earnings is not a presentation defined under GAAP and may not be comparable to other companies’ presentation. The Company has provided the non-GAAP financial measure as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. Adjusted (non-GAAP) Operating Earnings should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP Net Income measures provided in this earnings release and attachments. This press release and earnings release attachments provide reconciliations of adjusted (non-GAAP) Operating Earnings to the most directly comparable financial measures calculated and presented in accordance with GAAP, are posted on Exelon’s website: www.exeloncorp.com, and have been furnished to the Securities and Exchange Commission on Form 8-K on Aug. 2, 2017.

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Cautionary Statements Regarding Forward-Looking Information

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from the forward-looking statements made by Exelon Corporation, Exelon Generation Company, LLC, Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company, Pepco Holdings LLC, Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company (Registrants) include those factors discussed herein, as well as the items discussed in (1) the Registrants’ 2016 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 24, Commitments and Contingencies; (2) the Registrants’ Second Quarter 2017 Quarterly Report on Form 10-Q (to be filed on August 2, 2017) in (a) Part II, Other Information, ITEM 1A. Risk Factors; (b) Part 1, Financial Information, ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 17, Commitments and Contingencies; and (3) other factors discussed in filings with the SEC by the Registrants. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this press release. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this press release.

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Earnings Release Attachments

Table of Contents

Consolidating Statements of Operations - three months ended June 30, 2017 and 2016	2
Consolidating Statements of Operations - six months ended June 30, 2017 and 2016	3
Business Segment Comparative Statements of Operations - Generation and ComEd - three and six months ended June 30, 2017 and 2016	4
Business Segment Comparative Statements of Operations - PECO and BGE - three and six months ended June 30, 2017 and 2016	5
Business Segment Comparative Statements of Operations - PHI and Other - three and six months ended June 30, 2017 and 2016	6
Consolidated Balance Sheets - June 30, 2017 and December 31, 2016	7
Consolidated Statements of Cash Flows - six months ended June 30, 2017 and 2016	8
GAAP Consolidated Statements of Operations and Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments - Exelon - three months ended June 30, 2017 and 2016	9
GAAP Consolidated Statements of Operations and Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments - Exelon - six months ended June 30, 2017 and 2016	11
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Earnings - three months ended June 30, 2017 and 2016	13
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Earnings - six months ended June 30, 2017 and 2016	15
GAAP Consolidated Statements of Operations and Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments - Generation - three and six months ended June 30, 2017 and 2016	17
GAAP Consolidated Statements of Operations and Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments - ComEd - three and six months ended June 30, 2017 and 2016	19
GAAP Consolidated Statements of Operations and Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments - PECO - three and six months ended June 30, 2017 and 2016	20
GAAP Consolidated Statements of Operations and Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments - BGE - three and six months ended June 30, 2017 and 2016	21
GAAP Consolidated Statements of Operations and Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments - PHI - three and six months ended June 30, 2017 and 2016	22
GAAP Consolidated Statements of Operations and Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments - Other - three and six months ended June 30, 2017 and 2016	23
Exelon Generation Statistics - three months ended June 30, 2017, March 31, 2017, December 31, 2016, September 30, 2016 and June 30, 2016	24
Exelon Generation Statistics - six months ended June 30, 2017 and 2016	25
ComEd Statistics - three and six months ended June 30, 2017 and 2016	26
PECO Statistics - three and six months ended June 30, 2017 and 2016	27
BGE Statistics - three and six months ended June 30, 2017 and 2016	29
Pepco Statistics - three and six months ended June 30, 2017 and 2016	31
DPL Statistics - three and six months ended June 30, 2017 and 2016	32
ACE Statistics - three and six months ended June 30, 2017 and 2016	34

EXELON CORPORATION

Consolidating Statements of Operations

(unaudited)

(in millions)

	Three Months Ended June 30, 2017
	Generation			ComEd			PECO			BGE			PHI (b)			Other (a)			Exelon Consolidated
Operating revenues	$	4,174		$	1,357		$	630		$	674		$	1,074		$	(286	)	$	7,623
Operating expenses
Purchased power and fuel		2,157			378			197			234			383			(263	)		3,086
Operating and maintenance		2,010			377			190			174			269			(49	)		2,971
Depreciation and amortization		334			211			71			112			165			22			915
Taxes other than income		140			72			35			56			110			7			420
Total operating expenses		4,641			1,038			493			576			927			(283	)		7,392
Gain on sales of assets		—			—			—			—			1			—			1
Operating income (loss)		(467	)		319			137			98			148			(3	)		232
Other income and (deductions)
Interest expense, net		(129	)		(101	)		(31	)		(26	)		(59	)		(90	)		(436	)
Other, net		181			4			2			4			13			1			205
Total other income and (deductions)		52			(97	)		(29	)		(22	)		(46	)		(89	)		(231	)
Income (loss) before income taxes		(415	)		222			108			76			102			(92	)		1
Income taxes		(158	)		104			20			31			36			(105	)		(72	)
Equity in (losses) earnings of unconsolidated affiliates		(9	)		—			—			—			—			—			(9	)
Net income (loss)		(266	)		118			88			45			66			13			64
Net loss attributable to noncontrolling interests		(16	)		—			—			—			—			—			(16	)
Net income (loss) attributable to common shareholders	$	(250	)	$	118		$	88		$	45		$	66		$	13		$	80
	Three Months Ended June 30, 2016
	Generation			ComEd			PECO			BGE			PHI (b)			Other (a)			Exelon Consolidated
Operating revenues	$	3,589		$	1,286		$	664		$	680		$	1,066		$	(375	)	$	6,910
Operating expenses
Purchased power and fuel		1,577			339			217			261			416			(356	)		2,454
Operating and maintenance		1,530			368			190			208			246			(37	)		2,505
Depreciation and amortization		408			190			67			97			160			19			941
Taxes other than income		118			65			38			55			108			10			394
Total operating expenses		3,633			962			512			621			930			(364	)		6,294
Gain on sales of assets		31			—			—			—			—			—			31
Operating income (loss)		(13	)		324			152			59			136			(11	)		647
Other income and (deductions)
Interest expense, net		(99	)		(91	)		(31	)		(24	)		(66	)		(65	)		(376	)
Other, net		117			3			2			5			11			6			144
Total other income and (deductions)		18			(88	)		(29	)		(19	)		(55	)		(59	)		(232	)
Income (loss) before income taxes		5			236			123			40			81			(70	)		415
Income taxes		(31	)		91			23			6			29			(16	)		102
Equity in losses of unconsolidated affiliates		(8	)		—			—			—			—			1			(7	)
Net income (loss)		28			145			100			34			52			(53	)		306
Net income attributable to noncontrolling interests and preference stock dividends		36			—			—			3			—			—			39
Net income (loss) attributable to common shareholders	$	(8	)	$	145		$	100		$	31		$	52		$	(53	)	$	267

(a) Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities and other financing and investment activities.

(b) PHI includes the consolidated results of Potomac Electric Power Company, Delmarva Power & Light Company and Atlantic City Electric Company.

2

EXELON CORPORATION

Consolidating Statements of Operations

(unaudited)

(in millions)

	Six Months Ended June 30, 2017
	Generation			ComEd			PECO			BGE			PHI			Other (a)			Exelon Consolidated
Operating revenues	$	9,061		$	2,656		$	1,426		$	1,625		$	2,248		$	(635	)	$	16,381
Operating expenses
Purchased power and fuel		4,955			713			484			584			845			(596	)		6,985
Operating and maintenance		3,497			747			398			357			524			(92	)		5,431
Depreciation and amortization		637			419			141			239			332			43			1,811
Taxes other than income		282			144			74			119			221			17			857
Total operating expenses		9,371			2,023			1,097			1,299			1,922			(628	)		15,084
Gain on sales of assets		4			—			—			—			1			—			5
Bargain purchase gain		226			—			—			—			—			—			226
Operating income (loss)		(80	)		633			329			326			327			(7	)		1,528
Other income and (deductions)
Interest expense, net		(228	)		(185	)		(62	)		(54	)		(122	)		(158	)		(809	)
Other, net		440			8			3			8			26			3			488
Total other income and (deductions)		212			(177	)		(59	)		(46	)		(96	)		(155	)		(321	)
Income (loss) before income taxes		132			456			270			280			231			(162	)		1,207
Income taxes		(31	)		197			55			111			26			(215	)		143
Equity in losses of unconsolidated affiliates		(19	)		—			—			—			—			1			(18	)
Net income		144			259			215			169			205			54			1,046
Net loss attributable to noncontrolling interests		(30	)		—			—			—			—			—			(30	)
Net income attributable to common shareholders	$	174		$	259		$	215		$	169		$	205		$	54		$	1,076
	Six Months Ended June 30, 2016
	Generation			ComEd			PECO			BGE			PHI (b)			Other (a)			Exelon Consolidated
Operating revenues	$	8,329		$	2,535		$	1,505		$	1,609		$	1,171		$	(664	)	$	14,485
Operating expenses
Purchased power and fuel		4,020			686			537			634			454			(623	)		5,708
Operating and maintenance		2,997			736			405			410			695			98			5,341
Depreciation and amortization		697			379			134			206			174			36			1,626
Taxes other than income		244			141			80			114			123			18			720
Total operating expenses		7,958			1,942			1,156			1,364			1,446			(471	)		13,395
Gain on sales of assets		31			5			—			—			—			4			40
Operating income (loss)		402			598			349			245			(275	)		(189	)		1,130
Other income and (deductions)
Interest expense, net		(196	)		(177	)		(62	)		(48	)		(71	)		(109	)		(663	)
Other, net		210			7			4			11			12			14			258
Total other income and (deductions)		14			(170	)		(58	)		(37	)		(59	)		(95	)		(405	)
Income (loss) before income taxes		416			428			291			208			(334	)		(284	)		725
Income taxes		120			168			67			73			(77	)		(66	)		285
Equity in losses of unconsolidated affiliates		(11	)		—			—			—			—			1			(10	)
Net income (loss)		285			260			224			135			(257	)		(217	)		430
Net (loss) income attributable to noncontrolling interests and preference stock dividends		(17	)		—			—			6			—			1			(10	)
Net income (loss) attributable to common shareholders	$	302		$	260		$	224		$	129		$	(257	)	$	(218	)	$	440

(a) Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities and other financing and investment activities.

(b) PHI includes the consolidated results of Potomac Electric Power Company, Delmarva Power & Light Company and Atlantic City Electric Company beginning on March 24, 2016, the day after the merger was completed.

3

EXELON CORPORATION

Business Segment Comparative Statements of Operations

(unaudited)

(in millions)

	Generation
	Three Months Ended June 30,									Six Months Ended June 30,
	2017			2016			Variance			2017			2016			Variance
Operating revenues	$	4,174		$	3,589		$	585		$	9,061		$	8,329		$	732
Operating expenses
Purchased power and fuel		2,157			1,577			580			4,955			4,020			935
Operating and maintenance		2,010			1,530			480			3,497			2,997			500
Depreciation and amortization		334			408			(74	)		637			697			(60	)
Taxes other than income		140			118			22			282			244			38
Total operating expenses		4,641			3,633			1,008			9,371			7,958			1,413
Gain on sales of assets		—			31			(31	)		4			31			(27	)
Bargain purchase gain		—			—			—			226			—			226
Operating income		(467	)		(13	)		(454	)		(80	)		402			(482	)
Other income and (deductions)
Interest expense, net		(129	)		(99	)		(30	)		(228	)		(196	)		(32	)
Other, net		181			117			64			440			210			230
Total other income and (deductions)		52			18			34			212			14			198
Income before income taxes		(415	)		5			(420	)		132			416			(284	)
Income taxes		(158	)		(31	)		(127	)		(31	)		120			(151	)
Equity in losses of unconsolidated affiliates		(9	)		(8	)		(1	)		(19	)		(11	)		(8	)
Net (loss) income		(266	)		28			(294	)		144			285			(141	)
Net (loss) income attributable to noncontrolling interests		(16	)		36			(52	)		(30	)		(17	)		(13	)
Net (loss) income attributable to membership interest	$	(250	)	$	(8	)	$	(242	)	$	174		$	302		$	(128	)
	ComEd
	Three Months Ended June 30,									Six Months Ended June 30,
	2017			2016			Variance			2017			2016			Variance
Operating revenues	$	1,357		$	1,286		$	71		$	2,656		$	2,535		$	121
Operating expenses
Purchased power		378			339			39			713			686			27
Operating and maintenance		377			368			9			747			736			11
Depreciation and amortization		211			190			21			419			379			40
Taxes other than income		72			65			7			144			141			3
Total operating expenses		1,038			962			76			2,023			1,942			81
Gain on sales of assets		—			—			—			—			5			(5	)
Operating income		319			324			(5	)		633			598			35
Other income and (deductions)
Interest expense, net		(101	)		(91	)		(10	)		(185	)		(177	)		(8	)
Other, net		4			3			1			8			7			1
Total other income and (deductions)		(97	)		(88	)		(9	)		(177	)		(170	)		(7	)
Income before income taxes		222			236			(14	)		456			428			28
Income taxes		104			91			13			197			168			29
Net income	$	118		$	145		$	(27	)	$	259		$	260		$	(1	)

4

EXELON CORPORATION

Business Segment Comparative Statements of Operations

(unaudited)

(in millions)

	PECO
	Three Months Ended June 30,									Six Months Ended June 30,
	2017			2016			Variance			2017			2016			Variance
Operating revenues	$	630		$	664		$	(34	)	$	1,426		$	1,505		$	(79	)
Operating expenses
Purchased power and fuel		197			217			(20	)		484			537			(53	)
Operating and maintenance		190			190			—			398			405			(7	)
Depreciation and amortization		71			67			4			141			134			7
Taxes other than income		35			38			(3	)		74			80			(6	)
Total operating expenses		493			512			(19	)		1,097			1,156			(59	)
Operating income		137			152			(15	)		329			349			(20	)
Other income and (deductions)
Interest expense, net		(31	)		(31	)		—			(62	)		(62	)		—
Other, net		2			2			—			3			4			(1	)
Total other income and (deductions)		(29	)		(29	)		—			(59	)		(58	)		(1	)
Income before income taxes		108			123			(15	)		270			291			(21	)
Income taxes		20			23			(3	)		55			67			(12	)
Net income	$	88		$	100		$	(12	)	$	215		$	224		$	(9	)
	BGE
	Three Months Ended June 30,									Six Months Ended June 30,
	2017			2016			Variance			2017			2016			Variance
Operating revenues	$	674		$	680		$	(6	)	$	1,625		$	1,609		$	16
Operating expenses
Purchased power and fuel		234			261			(27	)		584			634			(50	)
Operating and maintenance		174			208			(34	)		357			410			(53	)
Depreciation and amortization		112			97			15			239			206			33
Taxes other than income		56			55			1			119			114			5
Total operating expenses		576			621			(45	)		1,299			1,364			(65	)
Operating income		98			59			39			326			245			81
Other income and (deductions)
Interest expense, net		(26	)		(24	)		(2	)		(54	)		(48	)		(6	)
Other, net		4			5			(1	)		8			11			(3	)
Total other income and (deductions)		(22	)		(19	)		(3	)		(46	)		(37	)		(9	)
Income before income taxes		76			40			36			280			208			72
Income taxes		31			6			25			111			73			38
Net income		45			34			11			169			135			34
Preference stock dividends		—			3			(3	)		—			6			(6	)
Net income attributable to common shareholder	$	45		$	31		$	14		$	169		$	129		$	40

5

EXELON CORPORATION    

Business Segment Comparative Statements of Operations    

(unaudited)

(in millions)

	PHI
	Three Months Ended June 30,									Six Months Ended June 30,
	2017			2016			Variance			2017			2016 (a)			Variance
Operating revenues	$	1,074		$	1,066		$	8		$	2,248		$	1,171		$	1,077
Operating expenses
Purchased power and fuel		383			416			(33	)		845			454			391
Operating and maintenance		269			246			23			524			695			(171	)
Depreciation and amortization		165			160			5			332			174			158
Taxes other than income		110			108			2			221			123			98
Total operating expenses		927			930			(3	)		1,922			1,446			476
Gain on sales of assets		1			—			1			1			—			1
Operating income (loss)		148			136			12			327			(275	)		602
Other income and (deductions)
Interest expense, net		(59	)		(66	)		7			(122	)		(71	)		(51	)
Other, net		13			11			2			26			12			14
Total other income and (deductions)		(46	)		(55	)		9			(96	)		(59	)		(37	)
Income (loss) before income taxes		102			81			21			231			(334	)		565
Income taxes		36			29			7			26			(77	)		103
Net income (loss)	$	66		$	52		$	14		$	205		$	(257	)	$	462
	Other (b)
	Three Months Ended June 30,									Six Months Ended June 30,
	2017			2016			Variance			2017			2016			Variance
Operating revenues	$	(286	)	$	(375	)	$	89		$	(635	)	$	(664	)	$	29
Operating expenses
Purchased power and fuel		(263	)		(356	)		93			(596	)		(623	)		27
Operating and maintenance		(49	)		(37	)		(12	)		(92	)		98			(190	)
Depreciation and amortization		22			19			3			43			36			7
Taxes other than income		7			10			(3	)		17			18			(1	)
Total operating expenses		(283	)		(364	)		81			(628	)		(471	)		(157	)
Gain on sales of assets		—			—			—			—			4			(4	)
Operating loss		(3	)		(11	)		8			(7	)		(189	)		182
Other income and (deductions)
Interest expense, net		(90	)		(65	)		(25	)		(158	)		(109	)		(49	)
Other, net		1			6			(5	)		3			14			(11	)
Total other income and (deductions)		(89	)		(59	)		(30	)		(155	)		(95	)		(60	)
Loss before income taxes		(92	)		(70	)		(22	)		(162	)		(284	)		122
Income taxes		(105	)		(16	)		(89	)		(215	)		(66	)		(149	)
Equity in earnings of unconsolidated affiliates	$	—		$	1		$	(1	)	$	1		$	1		$	—
Net income (loss) attributable to common shareholders		13			(53	)		66		$	54		$	(217	)	$	271
Net loss attributable to noncontrolling interests and preference stock dividends		—			—			—			—			1			(1	)
Net loss attributable to common shareholders	$	13		$	(53	)	$	66		$	54		$	(218	)	$	272

(a) PHI includes the consolidated results of Potomac Electric Power Company, Delmarva Power & Light Company and Atlantic City Electric Company beginning on March 24, 2016, the day after the merger was completed.

(b) Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities and other financing and investment activities.

6

EXELON CORPORATION    

Consolidated Balance Sheets    

(unaudited) (in millions)    

	June 30, 2017			December 31, 2016
Assets
Current assets
Cash and cash equivalents	$	536		$	635
Restricted cash and cash equivalents		252			253
Deposit with IRS		1,250			1,250
Accounts receivable, net
Customer		3,825			4,158
Other		958			1,201
Mark-to-market derivative assets		833			917
Unamortized energy contract assets		84			88
Inventories, net
Fossil fuel and emission allowances		334			364
Materials and supplies		1,267			1,274
Regulatory assets		1,293			1,342
Other		1,600			930
Total current assets		12,232			12,412
Property, plant and equipment, net		72,748			71,555
Deferred debits and other assets
Regulatory assets		9,945			10,046
Nuclear decommissioning trust funds		12,641			11,061
Investments		638			629
Goodwill		6,677			6,677
Mark-to-market derivative assets		464			492
Unamortized energy contract assets		419			447
Pledged assets for Zion Station decommissioning		75			113
Other		1,265			1,472
Total deferred debits and other assets		32,124			30,937
Total assets	$	117,104		$	114,904
Liabilities and shareholders’ equity
Current liabilities
Short-term borrowings	$	1,757		$	1,267
Long-term debt due within one year		3,619			2,430
Accounts payable		3,134			3,441
Accrued expenses		2,878			3,460
Payables to affiliates		8			8
Regulatory liabilities		574			602
Mark-to-market derivative liabilities		244			282
Unamortized energy contract liabilities		340			407
Renewable energy credit obligation		308			428
PHI merger related obligation		126			151
Other		977			981
Total current liabilities		13,965			13,457
Long-term debt		30,315			31,575
Long-term debt to financing trusts		641			641
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits		18,521			18,138
Asset retirement obligations		9,848			9,111
Pension obligations		4,082			4,248
Non-pension postretirement benefit obligations		1,955			1,848
Spent nuclear fuel obligation		1,139			1,024
Regulatory liabilities		4,398			4,187
Mark-to-market derivative liabilities		417			392
Unamortized energy contract liabilities		705			830
Payable for Zion Station decommissioning		—			14
Other		1,828			1,827
Total deferred credits and other liabilities		42,893			41,619
Total liabilities		87,814			87,292
Commitments and contingencies
Shareholders’ equity
Common stock		18,860			18,794
Treasury stock, at cost		(123	)		(2,327	)
Retained earnings		11,442			12,030
Accumulated other comprehensive loss, net		(2,633	)		(2,660	)
Total shareholders’ equity		27,546			25,837
Noncontrolling interests		1,744			1,775
Total equity		29,290			27,612
Total liabilities and shareholders’ equity	$	117,104		$	114,904

7

EXELON CORPORATION    

Consolidated Statements of Cash Flows    

(unaudited)    

(in millions)    

	Six Months Ended June 30,
	2017			2016
Cash flows from operating activities
Net income	$	1,046		$	430
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion, including nuclear fuel and energy contract amortization		2,591			2,396
Impairment of long-lived assets and losses on regulatory assets		445			239
Gain on sales of assets		(5	)		(40	)
Bargain purchase gain		(226	)		—
Deferred income taxes and amortization of investment tax credits		107			261
Net fair value changes related to derivatives		230			194
Net realized and unrealized gains on nuclear decommissioning trust fund investments		(284	)		(114	)
Other non-cash operating activities		412			1,056
Changes in assets and liabilities:
Accounts receivable		342			86
Inventories		(23	)		89
Accounts payable and accrued expenses		(811	)		(363	)
Option premiums paid, net		(8	)		(10	)
Collateral (posted) received, net		(173	)		710
Income taxes		58			470
Pension and non-pension postretirement benefit contributions		(325	)		(258	)
Other assets and liabilities		(478	)		(593	)
Net cash flows provided by operating activities		2,898			4,553
Cash flows from investing activities
Capital expenditures		(3,845	)		(4,489	)
Proceeds from nuclear decommissioning trust fund sales		5,213			4,977
Investment in nuclear decommissioning trust funds		(5,339	)		(5,094	)
Acquisition of businesses, net		(212	)		(6,642	)
Proceeds from sales of long-lived assets		211			45
Proceeds from termination of direct financing lease investment		—			360
Change in restricted cash		1			15
Other investing activities		(9	)		(49	)
Net cash flows used in investing activities		(3,980	)		(10,877	)
Cash flows from financing activities
Changes in short-term borrowings		422			(798	)
Proceeds from short-term borrowings with maturities greater than 90 days		576			194
Repayments on short-term borrowings with maturities greater than 90 days		(510	)		(315	)
Issuance of long-term debt		981			3,174
Retirement of long-term debt		(1,049	)		(217	)
Dividends paid on common stock		(607	)		(582	)
Common stock issued from treasury		1,150			—
Proceeds from employee stock plans		43			17
Other financing activities		(23	)		(4	)
Net cash flows provided by financing activities		983			1,469
Decrease in cash and cash equivalents		(99	)		(4,855	)
Cash and cash equivalents at beginning of period		635			6,502
Cash and cash equivalents at end of period	$	536		$	1,647

8

EXELON CORPORATION

GAAP Consolidated Statements of Operations and

Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments

(unaudited)

(in millions, except per share data)

	Three Months Ended June 30, 2017								Three Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments					GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	7,623		$	158		(b	),(d)	$	6,910		$	626		(b	),(d),(e)
Operating expenses
Purchased power and fuel		3,086			(48	)	(b	),(d)		2,454			300		(b	),(d),(h)
Operating and maintenance		2,971			(524	)	(e	),(f),(g),(h),(i)		2,505			(172	)	(e	),(g),(h),(i)
Depreciation and amortization		915			(35	)	(h	)		941			(114	)	(h	)
Taxes other than income		420								394
Total operating expenses		7,392								6,294
Gain on sales of assets		1								31
Operating income		232								647
Other income and (deductions)
Interest expense, net		(436	)		63		(g	),(j)		(376	)
Other, net		205			(66	)	(c	),(j)		144			(89	)	(c	),(h)
Total other income and (deductions)		(231	)							(232	)
Income before income taxes		1								415
							(b	),(c),(d),(e),							(b	),(c),(d),(e),
Income taxes		(72	)		353		(f	),(g),(h),(i),(j)		102			194		(f	),(g),(h),(i)
Equity in losses of unconsolidated affiliates		(9	)							(7	)
Net income		64								306
Net income (loss) attributable to noncontrolling interests and preference stock dividends		(16	)		(20	)	(k	)		39			(8	)	(k	)
Net income attributable to common shareholders	$	80							$	267
Effective tax rate(l)		(7,200.0	)%							24.6	%
Earnings per average common share
Basic	$	0.09							$	0.29
Diluted	$	0.09							$	0.29
Average common shares outstanding
Basic		934								924
Diluted		936								926
Effect of adjustments on earnings per average diluted common share recorded in accordance with GAAP:
Mark-to-market impact of economic hedging activities (b)				$	0.12							$	0.20
Unrealized gains related to NDT fund investments (c)					(0.05	)							(0.03	)
Amortization of commodity contract intangibles (d)					0.01								0.01
Merger and integration costs (e)					0.01								—
Merger commitments (f)					—								—
Long-lived asset impairments (g)					0.29								0.02
Plant retirements and divestitures (h)					0.07								0.14
Cost management program (i)					0.01								0.01
Like-kind exchange tax position (j)					(0.03	)							—
CENG noncontrolling interest (k)					0.02								0.01
Total adjustments				$	0.45							$	0.36

(a) Results reported in accordance with accounting principles generally accepted in the United States (GAAP).

(b) Adjustment to exclude the mark-to-market impact of Exelon’s economic hedging activities, net of intercompany eliminations.

(c) Adjustment to exclude the unrealized gains and losses on NDT fund investments to the extent not offset by contractual accounting as described in the notes to the consolidated financial statements.

(d) Adjustment to exclude the non-cash amortization of intangible assets, net, primarily related to commodity contracts recorded at fair value related to the Integrys acquisition in 2016, and in 2017, the ConEdison Solutions and FitzPatrick acquisitions.

(e) Adjustment to exclude certain costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses and integration activities related to the PHI acquisition in 2016, partially offset in 2016 at BGE and PHI by the anticipated recovery of previously incurred PHI acquisition costs, and in 2017, the PHI and FitzPatrick acquisitions.

(f) Adjustment to exclude costs incurred as part of the settlement orders approving the PHI acquisition.

(g) Adjustment to exclude charges to earnings related to the impairment of certain wind projects at Generation in 2016, and in 2017, impairments as a result of the ExGen Texas Power, LLC assets held for sale.

(h) Adjustment to exclude accelerated depreciation and amortization expenses, increases to materials and supplies inventory reserves, charges for severance reserves and construction work in progress impairments associated with Generation’s previous decision to early retire the Clinton and Quad Cities nuclear facilities in 2016, and Generation’s decision to early retire the Three Mile Island nuclear facility in 2017, partially offset in 2016 by a gain associated with Generation’s sale of the New Boston generating site.

9

(i) Adjustment to exclude reorganization costs, and in 2016 severance costs, related to a cost management program.

(j) Adjustment to excluded income tax, penalties and interest expenses in the second quarter of 2017 as a result of the finalization of the IRS tax computation related to Exelon’s like-kind exchange tax position.

(k) Adjustment to eliminate from Generation’s results of the noncontrolling interest related to CENG exclusion items, primarily related to the impact of unrealized gains and losses on NDT fund investments and mark-to-market activity.

(l) The effective tax rate related to Adjusted (non-GAAP) Operating Earnings is 36.8% and 31.6% for the three months ended June 30, 2017 and June 30, 2016, respectively. The effective tax rate for the three months ended June 30, 2017 is disproportionately impacted due to the decline in pre-tax GAAP earnings and changes in other reconciling items.

10

EXELON CORPORATION

GAAP Consolidated Statements of Operations and

Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments

(unaudited)

(in millions, except per share data)

	Six Months Ended June 30, 2017								Six Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments					GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	16,381		$	116		(b	),(d)	$	14,485		$	534		(b	),(d),(e)
Operating expenses
Purchased power and fuel		6,985			(141	)	(b	),(d),(h)		5,708			338		(b	),(d),(h)
Operating and maintenance		5,431			(572	)	(e	),(f),(g),(h),(j)		5,341			(932	)	(e	),(f),(g),(h),(j)
Depreciation and amortization		1,811			(37	)	(d	),(h)		1,626			(114	)	(h	)
Taxes other than income		857								720			(1	)	(j	)
Total operating expenses		15,084								13,395
Gain on sales of assets		5			(1	)	(h	)		40
Bargain purchase gain		226			(226	)	(l	)		—
Operating income		1,528								1,130
Other income and (deductions)
Interest expense, net		(809	)		59		(g	),(k),(m)		(663	)
Other, net		488			(274	)	(c	),(m)		258			(155	)	(c	),(h)
Total other income and (deductions)		(321	)							(405	)
Income before income taxes		1,207								725
							(b	),(c),(d),(e),(f),(g),							(b	),(c),(d),(e),(f),(g),
Income taxes		143			441		(h	),(i),(j),(k),(m)		285			311		(h	),(j)
Equity in losses of unconsolidated affiliates		(18	)							(10	)
Net income		1,046								430
Net loss attributable to noncontrolling interests and preference stock dividends		(30	)		(55	)	(n	)		(10	)		(18	)	(n	)
Net income attributable to common shareholders	$	1,076							$	440
Effective tax rate(o)		11.8	%							39.3	%
Earnings per average common share
Basic	$	1.16							$	0.48
Diluted	$	1.15							$	0.48
Average common shares outstanding
Basic		931								923
Diluted		932								926
Effect of adjustments on earnings per average diluted common share recorded in accordance with GAAP:
Mark-to-market impact of economic hedging activities (b)				$	0.15							$	0.12
Unrealized gains related to NDT fund investments (c)					(0.15	)							(0.07	)
Amortization of commodity contract intangibles (d)					0.02								—
Merger and integration costs (e)					0.04								0.09
Merger commitments (f)					(0.15	)							0.43
Long-lived asset impairments (g)					0.29								0.10
Plant retirements and divestitures (h)					0.07								0.14
Reassessment of state deferred income taxes (i)					(0.02	)							—
Cost management program (j)					0.01								0.02
Tax settlements (k)					(0.01	)							—
Bargain purchase gain (l)					(0.24	)							—
Like-kind exchange tax position (m)					(0.03	)							—
CENG noncontrolling interest (n)					0.06								0.02
Total adjustments				$	0.04							$	0.85

As a result of the PHI acquisition completion on March 23, 2016, the table includes financial results for PHI beginning on March 24, 2016 to June 30, 2017. Therefore, the results of operations from 2017 and 2016 are not comparable for Exelon. The explanations below identify any other significant or unusual items affecting the results of operations.

(a) Results reported in accordance with accounting principles generally accepted in the United States (GAAP).

(b) Adjustment to exclude the mark-to-market impact of Exelon’s economic hedging activities, net of intercompany eliminations.

11

(c) Adjustment to exclude the unrealized gains and losses on NDT fund investments to the extent not offset by contractual accounting as described in the notes to the consolidated financial statements.

(d) Adjustment to exclude the non-cash amortization of intangible assets, net, primarily related to commodity contracts recorded at fair value related to the Integrys acquisition in 2016, and in 2017, the ConEdison Solutions and FitzPatrick acquisitions.

(e) Adjustment to exclude certain costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses and integration activities related to the PHI acquisition in 2016, partially offset in 2016 at ComEd, BGE and PHI by the anticipated recovery of previously incurred PHI acquisition costs, and in 2017, the PHI and FitzPatrick acquisitions, partially offset in 2017 at PHI by the anticipated recovery of previously incurred PHI acquisition costs.

(f) Adjustment to exclude in 2016 costs incurred as part of the settlement orders approving the PHI acquisition, and in 2017, a decrease in reserves for uncertain tax positions related to the deductibility of certain merger commitments associated with the 2012 CEG and 2016 PHI acquisitions.

(g) Adjustment to exclude charges to earnings related to the impairment of upstream assets and certain wind projects at Generation in 2016, and in 2017, impairments as a result of the ExGen Texas Power, LLC assets held for sale.

(h) Adjustment to exclude accelerated depreciation and amortization expenses, increases to materials and supplies inventory reserves, charges for severance reserves and construction work in progress impairments associated with Generation’s previous decision to early retire the Clinton and Quad Cities nuclear facilities in 2016, and Generation’s decision to early retire the Three Mile Island nuclear facility in 2017, partially offset in 2016 by a gain associated with Generation’s sale of the New Boston generating site.

(i) Adjustment to exclude the non-cash impact of the remeasurement of state deferred income taxes, primarily as a result of changes in forecasted apportionment related to the PHI acquisition in 2016, and in 2017, a change in the statutory tax rate.

(j) Adjustment to exclude reorganization costs, and in 2016 severance costs, related to a cost management program

(k) Adjustment to exclude benefits related to the favorable settlement in 2017 of certain income tax positions related to PHI’s unregulated business interests

(l) Adjustment to exclude the excess of the fair value of assets and liabilities acquired over the purchase price for the FitzPatrick acquisition.

(m) Adjustment to exclude income tax, penalties and interest expenses in the second quarter of 2017 as a result of the finalization of the IRS tax computation related to Exelon’s like-kind exchange tax position.

(n) Adjustment to exclude from Generation’s results of the noncontrolling interest related to CENG exclusion items, primarily related to the impact of unrealized gains and losses on NDT fund investments and mark-to-market activity

(o) The effective tax rate related to Adjusted (non-GAAP) Operating Earnings is 35.8% and 32.9% for the six months ended June 30, 2017 and June 30, 2016, respectively.

12

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating

Earnings to GAAP Earnings (in millions)

Three Months Ended June 30, 2017 and 2016

(unaudited)

	Exelon
	Earnings per
	Diluted															PHI			Other
	Share			Generation			ComEd			PECO			BGE			(a)			(b)			Exelon
2016 GAAP Earnings (Loss)	$	0.29		$	(8	)	$	145		$	100		$	31		$	52		$	(53	)	$	267
2016 Adjusted (non-GAAP) Operating (Earnings) Loss Adjustments:
Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $119 and $120, respectively)		0.20			185			—			—			—			—			—			185
Unrealized Gains Related to NDT Fund Investments (net of taxes of $29) (1)		(0.03	)		(27	)		—			—			—			—			—			(27	)
Amortization of Commodity Contract Intangibles (net of taxes of $4) (2)		0.01			8			—			—			—			—			—			8
Merger and Integration Costs (net of taxes of $2, $0, $2 and $0, respectively) (3)		—			3			1			—			(3	)		—			—			1
Merger Commitments (entire amount represents tax expense) (4)		—			—			—			—			—			1			—			1
Long-Lived Asset Impairments (net of taxes of $14) (5)		0.02			22			—			—			—			—			—			22
Plant Retirements and Divestitures (net of taxes of $85) (6)		0.14			133			—			—			—			—			—			133
Cost Management Program (net of taxes of $2, $0, $0 and $3, respectively) (7)		0.01			4			—			1			1			—			—			6
CENG Noncontrolling Interest (net of taxes of $1) (8)		0.01			8			—			—			—			—			—			8
2016 Adjusted (non-GAAP) Operating Earnings (Loss)		0.65			328			146			101			29			53			(53	)		604
Year Over Year Effects on Earnings:
ComEd, PECO, BGE and PHI Margins:
Weather		(0.02	)		—			(7	) (c)		(2	)		—	(c)		(6	) (c)		—			(15	)
Load		—			—			(3	) (c)		(2	)		—	(c)		8	(c)		—			3
Other Energy Delivery (10)		0.06			—			28	(d)		(5	) (d)		13	(d)		23	(d)		—			59
Generation Energy Margins, Excluding Mark-to-Market:
Nuclear Volume (11)		0.03			28			—			—			—			—			—			28
Nuclear Fuel Cost (12)		—			2			—			—			—			—			—			2
Capacity Pricing (13)		—			(2	)		—			—			—			—			—			(2	)
Zero Emission Credit Revenue (14)		0.05			45			—			—			—			—			—			45
Market and Portfolio Conditions (15)		(0.16	)		(144	)		—			—			—			—			—			(144	)
Operating and Maintenance Expense:
Labor, Contracting and Materials (16)		(0.01	)		(7	)		1			(2	)		—			(6	)		—			(14	)
Planned Nuclear Refueling Outages (17)		(0.05	)		(50	)		—			—			—			—			—			(50	)
Pension and Non-Pension Postretirement Benefits (18)		—			(2	)		(1	)		1			1			—			(1	)		(2	)
Other Operating and Maintenance (19)		(0.01	)		(25	)		(5	)		2			23			(10	)		9			(6	)
Depreciation and Amortization Expense (20)		(0.04	)		(3	)		(13	)		(2	)		(9	)		(3	)		(2	)		(32	)
Interest Expense, Net (21)		—			(6	)		2			—			(2	)		4			(1	)		(3	)
Income Taxes (22)		—			(2	)		(2	)		(3	)		(11	)		—			14			(4	)
Equity in Earnings of Unconsolidated Affiliates		—			(1	)		—			—			—			—			—			(1	)
Noncontrolling Interests (23)		0.04			40			—			—			—			—			—			40
Other		—			1			(5	)		1			2			—			2			1
2017 Adjusted (non-GAAP) Operating Earnings (Loss)		0.54			202			141			89			46			63			(32	)		509
2017 Adjusted (non-GAAP) Operating Earnings (Loss) Adjustments:
Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $71, $1 and $72, respectively)		(0.12	)		(114	)		—			—			—			—			1			(113	)
Unrealized Gains Related to NDT Fund Investments (net of taxes of $20) (1)		0.05			45			—			—			—			—			—			45
Amortization of Commodity Contract Intangibles (net of taxes of $8) (2)		(0.01	)		(12	)		—			—			—			—			—			(12	)
Merger and Integration Costs (net of taxes of $1, $7, $1 and $9, respectively) (3)		(0.01	)		(12	)		—			—			—			(1	)		(2	)		(15	)
Merger Commitments (net of taxes of $3, $3 and $0, respectively) (4)		—			—			—			—			—			4			(4	)		—
Long-Lived Asset Impairments (net of taxes of $171, $1 and $172, respectively) (5)		(0.29	)		(269	)		—			—			—			—			1			(268	)
Plant Retirements and Divestitures (net of taxes of $42) (6)		(0.07	)		(66	)		—			—			—			—			—			(66	)
Cost Management Program (net of taxes of $3, $1, $1 and $4, respectively) (7)		(0.01	)		(4	)		—			(1	)		(1	)		—			—			(6	)
Like-Kind Exchange Tax Position (net of taxes of $9, $75 and $66, respectively) (9)		0.03			—			(23	)		—			—			—			49			26
CENG Noncontrolling Interest (net of taxes of $5) (8)		(0.02	)		(20	)		—			—			—			—			—			(20	)
2017 GAAP Earnings (Loss)	$	0.09		$	(250	)	$	118		$	88		$	45		$	66		$	13		$	80

13

Note:

Unless otherwise noted, the income tax impact of each reconciling item between GAAP Net Income and Adjusted (non-GAAP) Operating Earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items except the unrealized gains and losses related to NDT fund investments, the marginal statutory income tax rates ranged from 39 percent to 41 percent. Under IRS regulations, NDT fund investment returns are taxed at differing rates for investments in qualified vs. non-qualified funds. The tax rates applied to unrealized gains and losses related to NDT Fund investments were 31.4 percent and 47.5 percent for the three and six months ended June 30, 2017, respectively, and 51.6 percent and 52.5 percent for the three and six months ended June 30, 2016, respectively.

(a) PHI consolidated results includes Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company.

(b) Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities and other financing and investment activities.

(c) As approved by the Maryland PSC and District of Columbia PSC, customer rates for BGE, Pepco and DPL Maryland are adjusted to eliminate the favorable and unfavorable impacts of weather and usage patterns per customer on distribution volumes. Pursuant to the Illinois Future Energy Jobs Act, beginning in 2017, customer rates for ComEd are adjusted to eliminate the favorable and unfavorable impacts of weather and customer usage patterns on distribution volumes.

(d) For regulatory recovery mechanisms, including ComEd’s distribution formula rate, ComEd, BGE and PHI utilities transmission formula rates, and riders across all utilities, revenues increase and decrease i) as fully recoverable costs fluctuate (with no impact on net earnings), and ii) pursuant to changes in rate base, capital structure and ROE (which impact net earnings).

(1) Reflects the impact of unrealized gains on NDT fund investments to the extent not offset by contractual accounting as described in the notes to the consolidated financial statements.

(2) Represents the non-cash amortization of intangible assets, net, primarily related to commodity contracts recorded at fair value related to the Integrys acquisition in 2016, and in 2017, the ConEdison Solutions and FitzPatrick acquisitions.

(3) Reflects certain costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses and integration activities related to the PHI acquisition in 2016, partially offset in 2016 at BGE and PHI by the anticipated recovery of previously incurred PHI acquisition costs, and in 2017, the PHI and FitzPatrick acquisitions.

(4) Represents costs incurred as part of the settlement orders approving the PHI acquisition.

(5) Primarily reflects charges to earnings related to the impairment of certain wind projects at Generation in 2016, and in 2017, impairments as a result of the ExGen Texas Power, LLC assets held for sale.

(6) Primarily reflects accelerated depreciation and amortization expenses, increases to materials and supplies inventory reserves, charges for severance reserves and construction work in progress impairments associated with Generation’s previous decision to early retire the Clinton and Quad Cities nuclear facilities in 2016, and Generation’s decision to early retire the Three Mile Island nuclear facility in 2017, partially offset in 2016 by a gain associated with Generation’s sale of the New Boston generating site.

(7) Represents reorganization costs, and in 2016 severance costs, related to a cost management program.

(8) Represents elimination from Generation’s results of the noncontrolling interest related to CENG exclusion items, primarily related to the impact of unrealized gains and losses on NDT fund investments and mark-to-market activity.

(9) Represents adjustments to income tax, penalties and interest expenses in the second quarter of 2017 as a result of the finalization of the IRS tax computation related to Exelon’s like-kind exchange tax position.

(10) For ComEd, primarily reflects increased electric distribution and transmission formula rate revenues (due to increased capital investments and higher electric distribution ROE, which is due to an increase in treasury rates). For BGE and PHI, primarily reflects increased revenue as a result of rate increases.

(11) Primarily reflects the acquisition of the FitzPatrick nuclear facility.

(12) Primarily reflects a decrease in fuel prices, partially offset by increased nuclear output as a result of the FitzPatrick acquisition.

(13) Primarily reflects decreased capacity prices in the Mid-Atlantic region, partially offset by increased capacity prices in the New England region.

(14) Reflects the impact of the New York Clean Energy Standard.

(15) Primarily reflects the conclusion of the Ginna Reliability Support Services Agreement, lower realized energy prices and lower optimization in Generation’s natural gas portfolio.

(16) For Generation, primarily reflects increased salaries and wages related to the acquisition of the FitzPatrick nuclear facility.

(17) Primarily reflects an increase in the number of nuclear outage days in 2017, excluding Salem.

(18) Primarily reflects the unfavorable impact of lower pension and OPEB discount rates, partially offset by the favorable impact of lower health care claims experience.

(19) For Generation, primarily reflects an increase in nuclear decommissioning obligation expense. For BGE, primarily reflects the absence of 2016 charges for certain disallowances contained in the June and July 2016 rate case orders.

(20) For BGE, primarily reflects increased amortization due to the initiation of cost recovery of the AMI programs and increased depreciation from AMI program capital expenditures. Additionally, primarily reflects increased depreciation from ongoing capital expenditures across all operating companies.

(21) For Generation, primarily reflects increased interest expense due to higher outstanding debt.

(22) For BGE, primarily reflects a 2016 cumulative adjustment to tax expense for transmission-related regulatory assets. For Corporate, primarily reflects the 2016 unfavorable impact of the expiration of statutes of limitations.

(23) Reflects elimination from Generation’s results of activity attributable to noncontrolling interests, primarily for CENG.

14

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating

Earnings to GAAP Earnings (in millions)

Six Months Ended June 30, 2017 and 2016

(unaudited)

	Exelon
	Earnings per
	Diluted															PHI			Other			Exelon
	Share			Generation			ComEd			PECO			BGE			(a)			(b)			(a)
2016 GAAP Earnings (Loss)	$	0.48		$	302		$	260		$	224		$	129		$	(257	)	$	(218	)	$	440
2016 Adjusted (non-GAAP) Operating (Earnings) Loss Adjustments:
Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $81)		0.12			121			—			—			—			—			—			121
Unrealized Gains Related to NDT Fund Investments (net of taxes of $64) (1)		(0.07	)		(59	)		—			—			—			—			—			(59	)
Amortization of Commodity Contract Intangibles (net of taxes of $2) (2)		—			(4	)		—			—			—			—			—			(4	)
Merger and Integration Costs (net of taxes of $8, $3, $1, $2, $23, $1 and $26, respectively) (3)		0.09			14			(4	)		1			(2	)		33			37			79
Merger Commitments (net of taxes of $1, $84, $28 and $113, respectively) (4)		0.43			2			—			—			—			279			114			395
Long-Lived Asset Impairments (net of taxes of $62) (5)		0.10			93			—			—			—			—			—			93
Plant Retirements and Divestitures (net of taxes of $85) (6)		0.14			133			—			—			—			—			—			133
Reassessment of State Deferred Income Taxes (entire amount represents tax expense) (7)		—			6			—			—			—			—			(6	)		—
Cost Management Program (net of taxes of $9, $1, $1 and $12, respectively) (8)		0.02			15			—			2			2			—			—			19
CENG Noncontrolling Interest (net of taxes of $3) (9)		0.02			18			—			—			—			—			—			18
2016 Adjusted (non-GAAP) Operating Earnings (Loss)		1.33			641			256			227			129			55			(73	)		1,235
Year Over Year Effects on Earnings:
ComEd, PECO, BGE and PHI Margins:
Weather		(0.01	)		—			(2	) (c)		—			—	(c)		(6	) (c)		—			(8	)
Load		—			—			(4	) (c)		(5	)		—	(c)		8	(c)		—			(1	)
Other Energy Delivery (13)		0.54			—			67	(d)		(11	) (d)		39	(d)		406	(d)		—			501
Generation Energy Margins, Excluding Mark-to-Market:
Nuclear Volume (14)		0.01			9			—			—			—			—			—			9
Nuclear Fuel Cost (15)		0.02			14			—			—			—			—			—			14
Capacity Pricing (16)		(0.03	)		(31	)		—			—			—			—			—			(31	)
Zero Emission Credit Revenue (17)		0.05			45			—			—			—			—			—			45
Market and Portfolio Conditions (18)		(0.14	)		(129	)		—			—			—			—			—			(129	)
Operating and Maintenance Expense:
Labor, Contracting and Materials (19)		(0.15	)		(53	)		4			(4	)		(2	)		(84	)		—			(139	)
Planned Nuclear Refueling Outages (20)		(0.07	)		(69	)		—			—			—			—			—			(69	)
Pension and Non-Pension Postretirement Benefits (21)		(0.01	)		—			(1	)		1			1			(7	)		(1	)		(7	)
Other Operating and Maintenance (22)		(0.07	)		(44	)		(10	)		7			35			(63	)		14			(61	)
Depreciation and Amortization Expense (23)		(0.17	)		(10	)		(24	)		(4	)		(20	)		(94	)		(4	)		(156	)
Interest Expense, Net (24)		(0.06	)		(8	)		4			—			(4	)		(30	)		(19	)		(57	)
Income Taxes (25)		(0.01	)		(18	)		(3	)		4			(8	)		8			11			(6	)
Equity in Earnings of Unconsolidated Affiliates		(0.01	)		(5	)		—			—			—			—			—			(5	)
Noncontrolling Interests (26)		0.03			30			—			—			—			—			—			30
Other		(0.05	)		1			(5	)		3			2			(49	)		(3	)		(51	)
Share Differential (27)		(0.01	)		—			—			—			—			—			—			—
2017 Adjusted (non-GAAP) Operating Earnings (Loss)		1.19			373			282			218			172			144			(75	)		1,114
2017 Adjusted (non-GAAP) Operating Earnings (Loss) Adjustments:
Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $90, $1 and $91, respectively)		(0.15	)		(143	)		—			—			—			—			1			(142	)
Unrealized Gains Related to NDT Fund Investments (net of taxes of $130) (1)		0.15			144			—			—			—			—			—			144
Amortization of Commodity Contract Intangibles (net of taxes of $9) (2)		(0.02	)		(15	)		—			—			—			—			—			(15	)
Merger and Integration Costs (net of taxes of $23, $1, $1, $1, $1 and $25, respectively) (3)		(0.04	)		(37	)		—			(1	)		(1	)		1			(2	)		(40	)
Merger Commitments ( net of taxes of $18, $52, $67 and $137, respectively) (4)		0.15			18			—			—			—			60			59			137
Long-Lived Asset Impairments (net of taxes of $171, $1 and $172, respectively) (5)		(0.29	)		(269	)		—			—			—			—			1			(268	)
Plant Retirements and Divestitures (net of taxes of $42) (6)		(0.07	)		(66	)		—			—			—			—			—			(66	)
Reassessment of State Deferred Income Taxes (entire amount represents tax expense) (7)		0.02			—			—			—			—			—			20			20
Cost Management Program (net of taxes of $4, $1, $1, $0 and $7, respectively)(8)		(0.01	)		(7	)		—			(2	)		(2	)		—			1			(10	)
Tax Settlements (net of taxes of $1) (10)		0.01			5			—			—			—			—			—			5
Bargain Purchase Gain (11)		0.24			226			—			—			—			—			—			226
Like-Kind Exchange Tax Position (net of taxes of $9, $75 and $66, respectively) (12)		0.03			—			(23	)		—			—			—			49			26
CENG Noncontrolling Interest (net of taxes of $12) (9)		(0.06	)		(55	)		—			—			—			—			—			(55	)
2017 GAAP Earnings	$	1.15		$	174		$	259		$	215		$	169		$	205		$	54		$	1,076

15

Note:

Unless otherwise noted, the income tax impact of each reconciling item between GAAP Net Income and Adjusted (non-GAAP) Operating Earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items except the unrealized gains and losses related to NDT fund investments, the marginal statutory income tax rates ranged from 39 percent to 41 percent. Under IRS regulations, NDT fund investment returns are taxed at differing rates for investments in qualified vs. non-qualified funds. The tax rates applied to unrealized gains and losses related to NDT Fund investments were 31.4 percent and 47.5 percent for the three and six months ended June 30, 2017, respectively, and 51.6 percent and 52.5 percent for the three and six months ended June 30, 2016, respectively.

(a) For the six months ended June 30, 2016, includes financial results for PHI beginning on March 24, 2016, the day after the merger was completed. Therefore, the results of operations from 2017 and 2016 are not comparable for PHI and Exelon. The explanations below identify any other significant or unusual items affecting the results of operations. PHI consolidated results includes Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company.

(b) Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities and other financing and investment activities.

(c) As approved by the Maryland PSC and District of Columbia PSC, customer rates for BGE, Pepco and DPL Maryland are adjusted to eliminate the favorable and unfavorable impacts of weather and usage patterns per customer on distribution volumes. Pursuant to the Illinois Future Energy Jobs Act, beginning in 2017, customer rates for ComEd are adjusted to eliminate the favorable and unfavorable impacts of weather and customer usage patterns on distribution volumes.

(d) For regulatory recovery mechanisms, including ComEd’s distribution formula rate, ComEd, BGE and PHI utilities transmission formula rates, and riders across all utilities, revenues increase and decrease i) as fully recoverable costs fluctuate (with no impact on net earnings), and ii) pursuant to changes in rate base, capital structure and ROE (which impact net earnings).

(1) Reflects the impact of unrealized gains on NDT fund investments to the extent not offset by contractual accounting as described in the notes to the consolidated financial statements.

(2) Represents the non-cash amortization of intangible assets, net, primarily related to commodity contracts recorded at fair value related to the Integrys acquisition in 2016, and in 2017, the ConEdison Solutions and FitzPatrick acquisitions.

(3) Reflects certain costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses and integration activities related to the PHI acquisition in 2016, partially offset in 2016 at ComEd, BGE and PHI by the anticipated recovery of previously incurred PHI acquisition costs, and in 2017, the PHI and FitzPatrick acquisitions, partially offset in 2017 at PHI by the anticipated recovery of previously incurred PHI acquisition costs.

(4) Primarily reflects in 2016 costs incurred as part of the settlement orders approving the PHI acquisition, and in 2017, a decrease in reserves for uncertain tax positions related to the deductibility of certain merger commitments associated with the 2012 CEG and 2016 PHI acquisitions.

(5) Primarily reflects charges to earnings related to the impairment of upstream assets and certain wind projects at Generation in 2016, and in 2017, impairments as a result of the ExGen Texas Power, LLC assets held for sale.

(6) Primarily reflects accelerated depreciation and amortization expenses, increases to materials and supplies inventory reserves, charges for severance reserves and construction work in progress impairments associated with Generation’s previous decision to early retire the Clinton and Quad Cities nuclear facilities in 2016, and Generation’s decision to early retire the Three Mile Island nuclear facility in 2017, partially offset in 2016 by a gain associated with Generation’s sale of the New Boston generating site.

(7) Reflects the non-cash impact of the remeasurement of state deferred income taxes, primarily as a result of changes in forecasted apportionment related to the PHI acquisition in 2016, and in 2017, a change in the statutory tax rate.

(8) Represents reorganization costs, and in 2016 severance costs, related to a cost management program.

(9) Represents elimination from Generation’s results of the noncontrolling interest related to CENG exclusion items, primarily related to the impact of unrealized gains and losses on NDT fund investments and mark-to-market activity.

(10) Reflects benefits related to the favorable settlement in 2017 of certain income tax positions related to PHI’s unregulated business interests.

(11) Represents the excess of the fair value of assets and liabilities acquired over the purchase price for the FitzPatrick acquisition.

(12) Represents adjustments to income tax, penalties and interest expenses in the second quarter of 2017 as a result of the finalization of the IRS tax computation related to Exelon’s like-kind exchange tax position.

(13) For ComEd, primarily reflects increased electric distribution and transmission formula rate revenues (due to increased capital investments and higher electric distribution ROE, which is due to an increase in treasury rates) and an increase in fully recoverable costs. For BGE and PHI, primarily reflects increased revenue as a result of rate increases.

(14) Primarily reflects the acquisition of the FitzPatrick nuclear facility, partially offset by an increase in nuclear outage days.

(15) Primarily reflects a decrease in fuel prices.

(16) Primarily reflects decreased capacity prices in the Mid-Atlantic and Midwest regions, partially offset by increased capacity prices in the New England region.

(17) Reflects the impact of the New York Clean Energy Standard.

(18) Primarily reflects the impacts of declining natural gas prices and lower optimization in Generation’s natural gas portfolio, the conclusion of the Ginna Reliability Support Services Agreement and lower realized energy prices, partially offset by the inclusion of Pepco Energy Services results in 2017, the absence of oil inventory write downs that occurred in 2016 and revenue related to energy efficiency projects.

(19) For Generation, primarily reflects the inclusion of Pepco Energy Services results in 2017, increased contracting costs related to energy efficiency projects and increased salaries and wages related to the acquisition of the FitzPatrick nuclear facility.

(20) Primarily reflects an increase in the number of nuclear outage days in 2017, excluding Salem.

(21) Primarily reflects the favorable impact of lower health care claims experience, partially offset by the unfavorable impact of lower pension and OPEB discount rates.

(22) For Generation, primarily reflects an increase in nuclear decommissioning obligation expense. For ComEd, primarily reflects increased fully recoverable costs associated with energy efficiency programs. For BGE, primarily reflects the absence of 2016 charges for certain disallowances contained in the June and July 2016 rate case orders and decreased storm costs in the BGE service territory.

(23) For BGE, primarily reflects increased amortization due to the initiation of cost recovery of the AMI programs and increased depreciation from AMI program capital expenditures. Additionally, primarily reflects increased depreciation from ongoing capital expenditures across all operating companies.

(24) For Generation, primarily reflects increased interest expense due to higher outstanding debt. For Corporate, primarily reflects increased interest expense due to higher outstanding debt, as well as debt issuance costs related to the April 2017 remarketing of Junior Subordinated Notes due in 2024.

(25) For Generation, primarily reflects the favorable settlement of certain income tax positions in 2016. For BGE, primarily reflects a 2016 cumulative adjustment to tax expense for transmission-related regulatory assets. For Corporate, primarily reflects the 2016 unfavorable impact of the expiration of statutes of limitations.

(26) Reflects elimination from Generation’s results of activity attributable to noncontrolling interests, primarily for CENG.

(27) Reflects the impact on earnings per share due to the increase in Exelon’s average diluted common shares outstanding as a result of the June 2017 common stock issuance.

16

EXELON CORPORATION

GAAP Consolidated Statements of Operations and

Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments

(unaudited)

(in millions)

	Generation
	Three Months Ended June 30, 2017							Three Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments				GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	4,174		$	158		(b),(d)	$	3,589		$	625		(b),(d)
Operating expenses
Purchased power and fuel		2,157			(48	)	(b),(d),(h)		1,577			300		(b),(d),(h)
Operating and maintenance		2,010			(516	)	(e),(g),(h),(i)		1,530			(174	)	(e),(g),(h),(i)
Depreciation and amortization		334			(35	)	(h)		408			(114	)	(h)
Taxes other than income		140							118
Total operating expenses		4,641							3,633
Gain on sales of assets		—							31
Operating income		(467	)						(13	)
Other income and (deductions)
Interest expense, net		(129	)		21		(g)		(99	)
Other, net		181			(64	)	(c)		117			(89	)	(c),(h)
Total other income and (deductions)		52							18
Income before income taxes		(415	)						5
Income taxes		(158	)		282		(b),(c),(d),(e), (g),(h),(i)		(31	)		196		(b),(c),(d),(e), (g),(h),(i)
Equity in losses of unconsolidated affiliates		(9	)						(8	)
Net (loss) income		(266	)						28
Net (loss) income attributable to noncontrolling interests		(16	)		(20	)	(l)		36			(8	)	(l)
Net (loss) income attributable to membership interest	$	(250	)					$	(8	)
	Six Months Ended June 30, 2017							Six Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments				GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	9,061		$	116		(b),(d)	$	8,329		$	542		(b),(d)
Operating expenses
Purchased power and fuel		4,955			(141	)	(b),(d),(h)		4,020			338		(b),(d),(h)
Operating and maintenance		3,497			(562	)	(e),(g),(i),(h),		2,997			(330	)	(e),(f),(g),(h),(i)
Depreciation and amortization		637			(37	)	(d),(h)		697			(114	)	(h)
Taxes other than income		282							244			(1	)	(i)
Total operating expenses		9,371							7,958
Gain on sales of assets		4			(1	)	(h)		31
Bargain purchase gain		226			(226	)	(k),(h)		—
Operating income		(80	)						402
Other income and (deductions)
Interest expense, net		(228	)		18		(g),(j)		(196	)
Other, net		440			(273	)	(c)		210			(155	)	(c),(h)
Total other income and (deductions)		212							14
Income before income taxes		132							416
Income taxes		(31	)		230		(b),(c),(d),(e), (f),(g),(h),(i),(j)		120			173		(b),(c),(d),(e), (f),(g),(h),(i),(k)
Equity in losses of unconsolidated affiliates		(19	)						(11	)
Net income		144							285
Net loss attributable to noncontrolling interests		(30	)		(55	)	(l)		(17	)		(18	)	(l)
Net income attributable to membership interest	$	174						$	302

17

(a) Results reported in accordance with GAAP.

(b) Adjustment to exclude the mark-to-market impact of Exelon’s economic hedging activities, net of intercompany eliminations.

(c) Adjustment to exclude the unrealized gains and losses on NDT fund investments to the extent not offset by contractual accounting as described in the notes to the consolidated financial statements.

(d) Adjustment to exclude the non-cash amortization of intangible assets, net, primarily related to commodity contracts recorded at fair value related to the Integrys acquisition in 2016, and in 2017, the ConEdison Solutions and FitzPatrick acquisitions.

(e) Adjustment to exclude costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses, and integration activities related to the PHI acquisition in 2016.

(f) Adjustment to exclude 2016 costs incurred as part of the settlement orders approving the PHI acquisition, and in 2017, a decrease in reserves for uncertain tax positions related to the deductibility of certain merger commitments associated with the 2012 CEG and 2016 PHI acquisitions.

(g) Adjustment to exclude charges to earnings related to the impairment of upstream assets and certain wind projects at Generation in 2016, and in 2017, impairments as a result of the ExGen Texas Power, LLC assets held for sale.

(h) Adjustment to exclude accelerated depreciation and amortization expenses, increases to materials and supplies inventory reserves, charges for severance reserves and construction work in progress impairments associated with Generation’s previous decision to early retire the Clinton and Quad Cities nuclear facilities in 2016, and Generation’s decision to early retire the Three Mile Island nuclear facility in 2017, partially offset in 2016 by a gain associated with Generation’s sale of the New Boston generating site.

(i) Adjustment to exclude reorganization costs, and in 2016 severance costs, related to a cost management program.

(j) Adjustment to exclude the benefits related to the favorable settlement in 2017 of certain income tax positions related to PHI’s unregulated business interests.

(k) Adjustment to exclude the excess of the fair value of assets and liabilities acquired over the purchase price for the FitzPatrick acquisition.

(l) Adjustment to exclude the elimination from Generation’s results of the noncontrolling interest related to CENG exclusion items, primarily related to the impact of unrealized gains and losses on NDT fund investments and mark-to-market activity.

18

EXELON CORPORATION

GAAP Consolidated Statements of Operations and

Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments

(unaudited)

(in millions)

	ComEd
	Three Months Ended June 30, 2017						Three Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments			GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	1,357					$	1,286		$	1  (b	)
Operating expenses
Purchased power and fuel		378						339
Operating and maintenance		377			(1	)  (c)		368
Depreciation and amortization		211						190
Taxes other than income		72						65
Total operating expenses		1,038						962
Operating income		319						324
Other income and (deductions)
Interest expense, net		(101	)		14	(c)		(91	)
Other, net		4						3
Total other income and (deductions)		(97	)					(88	)
Income before income taxes		222						236
Income taxes		104			(8	)  (c)		91
Net income	$	118					$	145
	Six Months Ended June 30, 2017						Six Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments			GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	2,656					$	2,535		$	(8	)  (b)
Operating expenses
Purchased power and fuel		713						686
Operating and maintenance		747			(1	)  (c)		736			(1	)  (b)
Depreciation and amortization		419						379
Taxes other than income		144						141
Total operating expenses		2,023						1,942
Gain on sales of assets		—						5
Operating income		633						598
Other income and (deductions)
Interest expense, net		(185	)		14	(c)		(177	)
Other, net		8						7
Total other income and (deductions)		(177	)					(170	)
Income before income taxes		456						428
Income taxes		197			(8	)  (c)		168			(3	)  (b)
Net income	$	259					$	260

(a) Results reported in accordance with GAAP.

(b) Adjustment to exclude costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses, and integration activities, partially offset in 2016 at ComEd by the anticipated recovery of previously incurred PHI acquisition costs.

(c) Adjustment to excluded income tax, penalties and interest expenses in the second quarter of 2017 as a result of the finalization of the IRS tax computation related to Exelon’s like-kind exchange tax position.

19

EXELON CORPORATION

GAAP Consolidated Statements of Operations and

Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments

(unaudited)

(in millions)

	PECO
	Three Months Ended June 30, 2017						Three Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments			GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	630					$	664
Operating expenses
Purchased power and fuel		197						217
Operating and maintenance		190			(2	)  (b)		190			(2	) (b),(c)
Depreciation and amortization		71						67
Taxes other than income		35						38
Total operating expenses		493						512
Operating income		137						152
Other income and (deductions)
Interest expense, net		(31	)					(31	)
Other, net		2						2
Total other income and (deductions)		(29	)					(29	)
Income before income taxes		108						123
Income taxes		20			1	(b)		23			1	(c)
Net income	$	88					$	100
	Six Months Ended June 30, 2017						Six Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments			GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	1,426					$	1,505
Operating expenses
Purchased power and fuel		484						537
Operating and maintenance		398			(5	) (b),(c)		405			(5	) (b),(c)
Depreciation and amortization		141						134
Taxes other than income		74						80
Total operating expenses		1,097						1,156
Operating income		329						349
Other income and (deductions)
Interest expense, net		(62	)					(62	)
Other, net		3						4
Total other income and (deductions)		(59	)					(58	)
Income before income taxes		270						291
Income taxes		55			2	(b),(c)		67			2	(b),(c)
Net income	$	215					$	224

(a) Results reported in accordance with GAAP.

(b) Adjustment to exclude certain costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses, integration activities, and upfront credit facilities fees related to the PHI acquisition.

(c) Adjustment to exclude reorganization costs related to a cost management program.

20

EXELON CORPORATION

GAAP Consolidated Statements of Operations and

Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments

(unaudited)

(in millions)

	BGE
	Three Months Ended June 30, 2017						Three Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments			GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	674					$	680
Operating expenses
Purchased power and fuel		234						261
Operating and maintenance		174			(2	) (b),(c)		208			4	(b),(c)
Depreciation and amortization		112						97
Taxes other than income		56						55
Total operating expenses		576						621
Operating income		98						59
Other income and (deductions)
Interest expense, net		(26	)					(24	)
Other, net		4						5
Total other income and (deductions)		(22	)					(19	)
Income before income taxes		76						40
Income taxes		31			1	(b),(c)		6			(2	) (b),(c)
Net income		45						34
Preference stock dividends		—						3
Net income attributable to common shareholder	$	45					$	31
	Six Months Ended June 30, 2017						Six Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments			GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	1,625					$	1,609
Operating expenses
Purchased power and fuel		584						634
Operating and maintenance		357			(5	) (b),(c)		410			1	(b),(c)
Depreciation and amortization		239						206
Taxes other than income		119						114
Total operating expenses		1,299						1,364
Operating income		326						245
Other income and (deductions)
Interest expense, net		(54	)					(48	)
Other, net		8						11
Total other income and (deductions)		(46	)					(37	)
Income before income taxes		280						208
Income taxes		111			2	(b),(c)		73			(1	) (b),(c)
Net income		169						135
Preference stock dividends		—						6
Net income attributable to common shareholder	$	169					$	129

(a) Results reported in accordance with GAAP.

(b) Adjustment to exclude certain costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses, integration activities, and upfront credit facilities fees, partially offset in 2016 by the anticipated recovery of previously incurred PHI acquisition costs.

(c) Adjustment to exclude reorganization costs related to a cost management program.

21

EXELON CORPORATION

GAAP Consolidated Statements of Operations and

Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments

(unaudited)

(in millions)

	PHI
	Three Months Ended June 30, 2017						Three Months Ended June 30, 2016
	GAAP (a)			Non-GAAP Adjustments			GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	1,074					$	1,066
Operating expenses
Purchased power and fuel		383						416
Operating and maintenance		269			4	(c),(d)		246
Depreciation and amortization		165						160
Taxes other than income		110						108
Total operating expenses		927						930
Gain on sales of assets		1						—
Operating income		148						136
Other income and (deductions)
Interest expense, net		(59	)					(66	)
Other, net		13						11
Total other income and (deductions)		(46	)					(55	)
Income before income taxes		102						81
Income taxes		36			(1	) (c),(d)		29			(1	)(d)
Net income	$	66					$	52
	Six Months Ended June 30, 2017						Six Months Ended June 30, 2016 (b)
	GAAP (a)			Non-GAAP Adjustments			GAAP (a)			Non-GAAP Adjustments
Operating revenues	$	2,248					$	1,171
Operating expenses
Purchased power and fuel		845						454
Operating and maintenance		524			10	(c),(d)		695			(419	) (c),(d)
Depreciation and amortization		332						174
Taxes other than income		221						123
Total operating expenses		1,922						1,446
Gain on sales of assets		1						—
Operating income (loss)		327						(275	)
Other income and (deductions)
Interest expense, net		(122	)					(71	)
Other, net		26						12
Total other income and (deductions)		(96	)					(59	)
Income (loss) before income taxes		231						(334	)
Income taxes		26			51	(c),(d)		(77	)		107	(c),(d)
Net income (loss)	$	205					$	(257	)

(a) Results reported in accordance with GAAP.

(b) For the six months ended June 30, 2016, includes financial results for PHI beginning on March 24, 2016, the day after the merger was completed. Therefore, the results of operations from 2017 and 2016 are not comparable for PHI and Exelon. The explanations below identify any other significant or unusual items affecting the results of operations. PHI consolidated results includes Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company.

(c) Adjustment to exclude certain costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses, integration activities, and upfront credit facilities fees, partially offset in 2016 at PHI by the anticipated recovery of previously incurred PHI acquisition costs.

(d) Adjustment to exclude costs incurred as part of the settlement orders approving the PHI acquisition.

22

EXELON CORPORATION

GAAP Consolidated Statements of Operations and

Adjusted (non-GAAP) Operating Earnings Reconciling Adjustments

(unaudited)

(in millions)

	Other (a)
	Three Months Ended June 30, 2017						Three Months Ended June 30, 2016
	GAAP (b)			Non-GAAP Adjustments			GAAP (b)			Non-GAAP Adjustments
Operating revenues	$	(286	)				$	(375	)
Operating expenses
Purchased power and fuel		(263	)					(356	)
Operating and maintenance		(49	)		(7	) (d),(e)		(37	)
Depreciation and amortization		22						19
Taxes other than income		7						10
Total operating expenses		(283	)					(364	)
Operating loss		(3	)					(11	)
Other income and (deductions)
Interest expense, net		(90	)		28	(h)		(65	)
Other, net		1			(2	) (h)		6
Total other income and (deductions)		(89	)					(59	)
Loss before income taxes		(92	)					(70	)
Income taxes		(105	)		78	(d),(e),(f),(h)		(16	)
Equity in earnings of unconsolidated affiliates		—						1
Net income (loss) attributable to common shareholders	$	13					$	(53	)
	Six Months Ended June 30, 2017						Six Months Ended June 30, 2016
	GAAP (b)			Non-GAAP Adjustments			GAAP (b)			Non-GAAP Adjustments
Operating revenues	$	(635	)				$	(664	)
Operating expenses
Purchased power and fuel		(596	)					(623	)
Operating and maintenance		(92	)		(9	) (d),(e)		98			(178	)  (d),(e)
Depreciation and amortization		43						36
Taxes other than income		17						18
Total operating expenses		(628	)					(471	)
Gain on sales of assets		—						4
Operating loss		(7	)					(189	)
Other income and (deductions)
Interest expense, net		(158	)		27	(h)		(109	)
Other, net		3			(1	) (h)		14
Total other income and (deductions)		(155	)					(95	)
Loss before income taxes		(162	)					(284	)
Income taxes		(215	)		164	(d),(e),(f),    (g),(h)		(66	)		33	(d),(e),(g)
Equity in earnings of unconsolidated affiliates		1						1
Net income (loss)		54						(217	)
Net income attributable to noncontrolling interests and preference stock dividends		—						1
Net income (loss) attributable to common shareholders	$	54					$	(218	)

(a) Other primarily includes eliminating and consolidating adjustments, Exelon’s corporate operations, shared service entities and other financing and investment activities.

(b) Results reported in accordance with GAAP.

(c) Adjustment to exclude the mark-to-market impact of Exelon’s economic hedging activities, net of intercompany eliminations.

(d) Adjustment to exclude certain costs associated with mergers and acquisitions, including, if and when applicable, professional fees, employee-related expenses and integration activities related to the PHI acquisition.

(e) Adjustment to exclude in 2016 costs incurred as part of the settlement orders approving the PHI acquisition, and in 2017, a decrease in reserves for uncertain tax positions related to the deductibility of certain merger commitments associated with the 2016 PHI acquisition.

(f) Adjustment to exclude the impact of impairments as a result of the ExGen Texas Power, LLC assets held for sale.

(g) Reflects the non-cash impact of the remeasurement of state deferred income taxes, primarily as a result of changes in forecasted apportionment related to the PHI acquisition in 2016, and in 2017, a change in the statutory tax rate.

(h) Adjustment to exclude the impact to income tax, penalties and interest expenses in the second quarter of 2017 as a result of the finalization of the IRS tax computation related to Exelon’s like-kind exchange tax position.

23

EXELON CORPORATION

Exelon Generation Statistics

	Three Months Ended
	June 30, 2017		March 31, 2017		December 31, 2016		September 30, 2016		June 30, 2016
Supply (in GWhs)
Nuclear Generation
Mid-Atlantic(a)		15,246		16,545		16,410		15,604		15,224
Midwest		22,592		22,468		23,743		24,262		23,001
New York(a),(f)		6,227		4,491		4,681		4,843		4,228
Total Nuclear Generation		44,065		43,504		44,834		44,709		42,453
Fossil and Renewables
Mid-Atlantic		899		836		442		706		685
Midwest		417		418		442		273		324
New England		1,925		2,077		1,142		1,886		2,016
New York		1		1		1		1		1
ERCOT		2,315		1,370		1,056		2,472		1,879
Other Power Regions(b)		2,084		1,423		1,935		2,103		1,995
Total Fossil and Renewables		7,641		6,125		5,018		7,441		6,900
Purchased Power
Mid-Atlantic		2,901		3,398		2,849		7,139		3,131
Midwest		413		388		400		461		688
New England		4,343		5,064		4,768		3,927		3,782
New York		—		28		—		—		—
ERCOT		1,871		2,655		3,189		2,895		2,259
Other Power Regions(b)		3,507		2,868		3,308		3,803		3,879
Total Purchased Power		13,035		14,401		14,514		18,225		13,739
Total Supply/Sales by Region(c)
Mid-Atlantic(d)		19,046		20,779		19,701		23,449		19,040
Midwest(d)		23,422		23,274		24,585		24,996		24,013
New England		6,268		7,141		5,910		5,813		5,798
New York		6,228		4,520		4,682		4,844		4,229
ERCOT		4,186		4,025		4,245		5,367		4,138
Other Power Regions(b)		5,591		4,291		5,243		5,906		5,874
Total Supply/Sales by Region		64,741		64,030		64,366		70,375		63,092
	Three Months Ended
	June 30, 2017		March 31, 2017		December 31, 2016		September 30, 2016		June 30, 2016
Outage Days(e)
Refueling(f)		125		95		71		17		87
Non-refueling(f)		12		8		32		—		21
Total Outage Days		137		103		103		17		108

(a) Includes the proportionate share of output where Generation has an undivided ownership interest in jointly-owned generating plants and includes the total output of plants that are fully consolidated (e.g. CENG).

(b) Other Power Regions includes, South, West and Canada.

(c) Excludes physical proprietary trading volumes of 2,312 GHhs, 1,850 GWhs, 2,164 GWhs, 1,506 GWhs, and 1,289 GWhs for the three months ended June 30, 2017, March 31, 2017, December 31, 2016, September 30, 2016, and June 30, 2016, respectively.

(d) Includes affiliate sales to PECO, BGE, Pepco, DPL and ACE in the Mid-Atlantic region and affiliate sales to ComEd in the Midwest region.

(e) Outage days exclude Salem.

(f) Includes the ownership of the FitzPatrick nuclear facility from March 31, 2017.

24

EXELON CORPORATION

Exelon Generation Statistics

Six Months Ended June 30, 2017 and 2016

	June 30, 2017		June 30, 2016
Supply (in GWhs)
Nuclear Generation
Mid-Atlantic(a)		31,790		31,432
Midwest		45,061		46,663
New York(a),(d)		10,718		9,160
Total Nuclear Generation		87,569		87,255
Fossil and Renewables
Mid-Atlantic		1,734		1,583
Midwest		835		773
New England		4,002		3,940
New York		2		2
ERCOT		3,684		3,255
Other Power Regions		3,507		4,142
Total Fossil and Renewables		13,764		13,695
Purchased Power
Mid-Atlantic		6,299		6,886
Midwest		801		1,394
New England		9,407		7,937
New York		28		—
ERCOT		4,525		4,553
Other Power Regions		6,375		6,479
Total Purchased Power		27,435		27,249
Total Supply/Sales by Region(b)
Mid-Atlantic(c)		39,823		39,901
Midwest(c)		46,697		48,830
New England		13,409		11,877
New York		10,748		9,162
ERCOT		8,209		7,808
Other Power Regions		9,882		10,621
Total Supply/Sales by Region		128,768		128,199

(a) Includes the proportionate share of output where Generation has an undivided ownership interest in jointly-owned generating plants and includes the total output of plants that are fully consolidated (e.g. CENG).

(b) Excludes physical proprietary trading volumes of 4,162 GWh and 2,509 GWh for the six months ended June 30, 2017 and 2016, respectively.

(c) Includes affiliate sales to PECO, BGE, Pepco, DPL and ACE in the Mid-Atlantic region and affiliate sales to ComEd in the Midwest region.

(d) Includes the ownership of the FitzPatrick nuclear facility from March 31, 2017.

25

EXELON CORPORATION

ComEd Statistics

Three Months Ended June 30, 2017 and 2016

	Electric Deliveries (in GWhs)										Revenue (in millions)
	2017		2016		% Change			Weather- Normal % Change			2017		2016			% Change
Retail Deliveries and Sales (a)
Residential		5,919		6,349		(6.8	)%		(3.0	)%	$	656	$	625			5.0	%
Small Commercial & Industrial		7,437		7,735		(3.9	)%		(2.7	)%		347		329			5.5	%
Large Commercial & Industrial		6,798		6,736		0.9	%		1.5	%		123		116			6.0	%
Public Authorities & Electric Railroads		282		277		1.8	%		1.8	%		11		11			—	%
Total Retail		20,436		21,097		(3.1	)%		(1.4	)%		1,137		1,081			5.2	%
Other Revenue (b)												220		205			7.3	%
Total Electric Revenue (c)											$	1,357	$	1,286			5.5	%
Purchased Power											$	378	$	339			11.5	%
											% Change
Heating and Cooling Degree-Days			2017		2016			Normal			From 2016					From Normal
Heating Degree-Days				577		755			734					(23.6	)%		(21.4	)%
Cooling Degree-Days				263		290			241					(9.3	)%		9.1	%
Six Months Ended June 30, 2017 and 2016
	Electric Deliveries (in GWhs)										Revenue (in millions)
	2017		2016		% Change			Weather- Normal % Change			2017		2016			% Change
Retail Deliveries and Sales (a)
Residential		12,160		12,725		(4.4	)%		(1.3	)%	$	1,283	$	1,232			4.1	%
Small Commercial & Industrial		15,146		15,615		(3.0	)%		(1.8	)%		680		651			4.5	%
Large Commercial & Industrial		13,480		13,493		(0.1	)%		0.5	%		231		224			3.1	%
Public Authorities & Electric Railroads		625		639		(2.2	)%		(1.1	)%		24		23			4.3	%
Total Retail		41,411		42,472		(2.5	)%		(0.9	)%		2,218		2,130			4.1	%
Other Revenue (b)												438		405			8.1	%
Total Electric Revenue (c)											$	2,656	$	2,535			4.8	%
Purchased Power											$	713	$	686			3.9	%
											% Change
Heating and Cooling Degree-Days			2017		2016			Normal			From 2016					From Normal
Heating Degree-Days				3,227		3,655			3,875					(11.7	)%		(16.7	)%
Cooling Degree-Days				263		290			241					(9.3	)%		9.1	%

Number of Electric Customers	2017		2016
Residential		3,605,731		3,570,528
Small Commercial & Industrial		375,976		372,354
Large Commercial & Industrial		2,009		1,972
Public Authorities & Electric Railroads		4,785		4,749
Total		3,988,501		3,949,603

(a) Reflects delivery volumes and revenues from customers purchasing electricity directly from ComEd and customers purchasing electricity from a competitive electric generation supplier, as all customers are assessed delivery charges. For customers purchasing electricity from ComEd, revenue also reflects the cost of energy and transmission.

(b) Other revenue primarily includes transmission revenue from PJM. Other revenue includes rental revenues, revenues related to late payment charges, revenues from other utilities for mutual assistance programs and recoveries of remediation costs associated with MGP sites.

(c) Includes operating revenues from affiliates totaling $3 million and $3 million for the three months ended June 30, 2017 and 2016, respectively, and $9 million and $8 million for the six months ended June 30, 2017 and 2016, respectively.

26

EXELON CORPORATION

PECO Statistics

Three Months Ended June 30, 2017 and 2016

	Electric and Natural Gas Deliveries										Revenue (in millions)
								Weather-
								Normal
	2017		2016		% Change			% Change			2017			2016		% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		2,809		2,909		(3.4	)%		(3.3	)%	$	331		$	355		(6.8	)%
Small Commercial & Industrial		1,914		1,887		1.4	%		0.9	%		100			106		(5.7	)%
Large Commercial & Industrial		3,830		3,770		1.6	%		0.4	%		57			65		(12.3	)%
Public Authorities & Electric Railroads		196		205		(4.4	)%		(4.4	)%		8			9		(11.1	)%
Total Retail		8,749		8,771		(0.3	)%		(0.8	)%		496			535		(7.3	)%
Other Revenue (b)												54			52		3.8	%
Total Electric Revenue (d)												550			587		(6.3	)%
Natural Gas (in mmcfs)
Retail Deliveries and Sales
Retail Sales (c)		7,621		7,883		(3.3	)%		11.8	%		72			70		2.9	%
Transportation and Other		5,759		5,906		(2.5	)%		(3.2	)%		8			7		14.3	%
Total Natural Gas (d)		13,380		13,789		(3.0	)%		5.3	%		80			77		3.9	%
Total Electric and Natural Gas Revenues											$	630		$	664		(5.1	)%
Purchased Power and Fuel											$	197		$	217		(9.2	)%
											% Change
Heating and Cooling Degree-Days			2017		2016			Normal			From 2016			From Normal
Heating Degree-Days				329		469			463			(29.9	)%				(28.9	)%
Cooling Degree-Days				415		391			348			6.1	%				19.3	%

Six Months Ended June 30, 2017 and 2016

	Electric and Natural Gas Deliveries										Revenue (in millions)
								Weather-
								Normal
	2017		2016		% Change			% Change			2017		2016		% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		6,187		6,324		(2.2	)%		(2.2	)%	$	713	$	766		(6.9	)%
Small Commercial & Industrial		3,890		3,912		(0.6	)%		(1.1	)%		197		225		(12.4	)%
Large Commercial & Industrial		7,456		7,364		1.2	%		0.5	%		109		123		(11.4	)%
Public Authorities & Electric Railroads		420		432		(2.8	)%		(2.8	)%		16		17		(5.9	)%
Total Retail		17,953		18,032		(0.4	)%		(0.9	)%		1,035		1,131		(8.5	)%
Other Revenue (b)												105		101		4.0	%
Total Electric Revenue (d)												1,140		1,232		(7.5	)%
Natural Gas (in mmcfs)
Retail Deliveries and Sales
Retail Sales (c)		34,832		34,994		(0.5	)%		2.0	%		269		256		5.1	%
Transportation and Other		13,448		13,602		(1.1	)%		(1.8	)%		17		17		—	%
Total Natural Gas (d)		48,280		48,596		(0.7	)%		1.0	%		286		273		4.8	%
Total Electric and Natural Gas Revenues											$	1,426	$	1,505		(5.2	)%
Purchased Power and Fuel											$	484	$	537		(9.9	)%

							% Change
Heating and Cooling Degree-Days	2017		2016		Normal		From 2016			From Normal
Heating Degree-Days		2,423		2,606		2,939		(7.0	)%		(17.6	)%
Cooling Degree-Days		415		396		348		4.8	%		19.3	%

27

Number of Electric Customers	2017		2016		Number of Natural Gas Customers	2017		2016
Residential		1,461,931		1,449,450	Residential		474,360		469,230
Small Commercial & Industrial		150,783		149,523	Commercial & Industrial		43,404		43,046
Large Commercial & Industrial		3,105		3,088	Total Retail		517,764		512,276
Public Authorities & Electric Railroads		9,795		9,813	Transportation		768		811
Total		1,625,614		1,611,874	Total		518,532		513,087

(a) Reflects delivery volumes and revenues from customers purchasing electricity directly from PECO and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from PECO, revenue also reflects the cost of energy and transmission.

(b) Other revenue includes transmission revenue from PJM and wholesale electric revenues.

(c) Reflects delivery volumes and revenues from customers purchasing natural gas directly from PECO and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from PECO, revenue also reflects the cost of natural gas.

(d) Total electric revenue includes operating revenues from affiliates totaling $2 million and $2 million for the three months ended June 30, 2017 and 2016, respectively, and $3 million and $4 million for the six months ended June 30, 2017 and 2016, respectively. Total natural gas revenues includes operating revenues from affiliates totaling less than $1 million for both the three and six months ended June 30, 2017 and 2016.

28

EXELON CORPORATION    

BGE Statistics

Three Months Ended June 30, 2017 and 2016    

	Electric and Natural Gas Deliveries							Revenue (in millions)
	2017		2016		% Change			2017		2016		% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		2,629		2,616		0.5	%	$	315	$	324		(2.8	)%
Small Commercial & Industrial		677		692		(2.2	)%		63		65		(3.1	)%
Large Commercial & Industrial		3,373		3,417		(1.3	)%		110		115		(4.3	)%
Public Authorities & Electric Railroads		72		72		—	%		8		9		(11.1	)%
Total Retail		6,751		6,797		(0.7	)%		496		513		(3.3	)%
Other Revenue (b)(c)									75		71		5.6	%
Total Electric Revenue									571		584		(2.2	)%
Natural Gas (in mmcfs)
Retail Deliveries and Sales (d)
Retail Sales		13,028		17,672		(26.3	)%		99		93		6.5	%
Transportation and Other (e)		116		271		(57.2	)%		4		3		33.3	%
Total Natural Gas (f)		13,144		17,943		(26.7	)%		103		96		7.3	%
Total Electric and Natural Gas Revenues								$	674	$	680		(0.9	)%
Purchased Power and Fuel								$	234	$	261		(10.3	)%

							% Change
Heating and Cooling Degree-Days	2017		2016		Normal		From 2016			From Normal
Heating Degree-Days		397		574		511		(30.8	)%		(22.3	)%
Cooling Degree-Days		283		219		255		29.2	%		11.0	%

Six Months Ended June 30, 2017 and 2016

	Electric and Natural Gas Deliveries							Revenue (in millions)
	2017		2016		% Change			2017		2016		% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		5,756		6,095		(5.6	)%	$	720	$	753		(4.4	)%
Small Commercial & Industrial		1,425		1,466		(2.8	)%		135		137		(1.5	)%
Large Commercial & Industrial		6,641		6,635		0.1	%		223		215		3.7	%
Public Authorities & Electric Railroads		140		143		(2.1	)%		15		18		(16.7	)%
Total Retail		13,962		14,339		(2.6	)%		1,093		1,123		(2.7	)%
Other Revenue (b)(c)									144		141		2.1	%
Total Electric Revenue									1,237		1,264		(2.1	)%
Natural Gas (in mmcfs)
Retail Deliveries and Sales (d)
Retail Sales		49,399		56,256		(12.2	)%		369		331		11.5	%
Transportation and Other (e)		2,395		2,767		(13.4	)%		19		14		35.7	%
Total Natural Gas (f)		51,794		59,023		(12.2	)%		388		345		12.5	%
Total Electric and Natural Gas Revenues								$	1,625	$	1,609		1.0	%
Purchased Power and Fuel								$	584	$	634		(7.9	)%

							% Change
Heating and Cooling Degree-Days	2017		2016		Normal		From 2016			From Normal
Heating Degree-Days		2,460		2,854		2,915		(13.8	)%	(15.6)%
Cooling Degree-Days		283		219		255		29.2	%	11.0 %

Number of Electric Customers	2017		2016		Number of Natural Gas Customers	2017		2016
Residential		1,154,330		1,142,073	Residential		624,392		618,268
Small Commercial & Industrial		113,329		112,980	Commercial & Industrial		44,020		44,078
Large Commercial & Industrial		12,113		11,980	Total Retail		668,412		662,346
Public Authorities & Electric Railroads		276		281	Transportation		—		—
Total		1,280,048		1,267,314	Total		668,412		662,346

(a) Reflects delivery volumes and revenues from customers purchasing electricity directly from BGE and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from BGE, revenue also reflects the cost of energy and transmission.

29

(b) Other revenue primarily includes wholesale transmission revenue and late payment charges.

(c) Includes operating revenues from affiliates totaling $2 million and $2 million for the three months ended June 30, 2017 and 2016, respectively, and $3 million and $4 million for the six months ended June 30, 2017 and 2016, respectively.

(d) Reflects delivery volumes and revenues from customers purchasing natural gas directly from BGE and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from BGE, revenue also reflects the cost of natural gas.

(e) Transportation and other natural gas revenue includes off-system revenue of 116 mmcfs ($1 million) and 271 mmcfs ($2 million) for the three months ended June 30, 2017 and 2016, respectively, and 2,395 mmcfs ($13 million) and 2,767 mmcfs ($11 million) for the six months ended June 30, 2017 and 2016, respectively.

(f) Includes operating revenues from affiliates totaling $1 million and $2 million for the three months ended June 30, 2017 and 2016, respectively, and $5 million and $5 million for the six months ended June 30, 2017 and 2016, respectively.

30

EXELON CORPORATION    

PEPCO Statistics    

Three Months Ended June 30, 2017 and 2016    

	Electric Deliveries							Revenue (in millions)
	2017		2016		% Change			2017		2016		% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		1,757		1,760		(0.2	)%	$	220	$	220		—	%
Small Commercial & Industrial		326		348		(6.3	)%		41		36		13.9	%
Large Commercial & Industrial		3,675		3,631		1.2	%		192		195		(1.5	)%
Public Authorities & Electric Railroads		172		176		(2.3	)%		8		8		—	%
Total Retail		5,930		5,915		0.3	%		461		459		0.4	%
Other Revenue (b)									53		50		6.0	%
Total Electric Revenue (c)									514		509		1.0	%
Purchased Power								$	143	$	152		(5.9	)%

							% Change
Heating and Cooling Degree-Days	2017		2016		Normal		From 2016			From Normal
Heating Degree-Days		314		397		500		(20.9	)%		(37.2	)%
Cooling Degree-Days		546		452		475		20.8	%		14.9	%

Six Months Ended June 30, 2017 and 2016

	Electric Deliveries							Revenue (in millions)
	2017		2016		% Change			2017		2016		% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		3,757		3,978		(5.6	)%	$	461	$	476		(3.2	)%
Small Commercial & Industrial		652		730		(10.7	)%		75		73		2.7	%
Large Commercial & Industrial		7,160		7,576		(5.5	)%		387		395		(2.0	)%
Public Authorities & Electric Railroads		362		364		(0.5	)%		16		16		—	%
Total Retail		11,931		12,648		(5.7	)%		939		960		(2.2	)%
Other Revenue (b)									106		101		5.0	%
Total Electric Revenue (c)									1,045		1,061		(1.5	)%
Purchased Power								$	309	$	351		(12.0	)%

							% Change
Heating and Cooling Degree-Days	2017		2016		Normal		From 2016			From Normal
Heating Degree-Days		2,062		2,407		2,638		(14.3	)%		(21.8	)%
Cooling Degree-Days		550		454		478		21.1	%		15.1	%

Number of Electric Customers	2017		2016
Residential		787,708		771,541
Small Commercial & Industrial		53,393		53,345
Large Commercial & Industrial		21,767		21,401
Public Authorities & Electric Railroads		139		127
Total		863,007		846,414

(a) Reflects delivery volumes and revenues from customers purchasing electricity directly from Pepco and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from Pepco, revenue also reflects the cost of energy and transmission.

(b) Other revenue includes transmission revenue from PJM and wholesale electric revenues.

(c) Includes operating revenues from affiliates totaling $1 million and $1 million for the three months ended June 30, 2017 and 2016, respectively, and $3 million and $3 million for the six months ended June 30, 2017 and 2016, respectively.

31

EXELON CORPORATION

DPL Statistics

Three Months Ended June 30, 2017 and 2016

	Electric and Natural Gas Deliveries							Revenue (in millions)
	2017		2016		% Change			2017			2016		% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		1,045		1,038		0.7	%	$	144		$	143		0.7	%
Small Commercial & Industrial		526		532		(1.1	)%		45			46		(2.2	)%
Large Commercial & Industrial		1,131		1,164		(2.8	)%		25			25		—	%
Public Authorities & Electric Railroads		12		12		—	%		4			3		33.3	%
Total Retail		2,714		2,746		(1.2	)%		218			217		0.5	%
Other Revenue (b)									42			38		10.5	%
Total Electric Revenue (c)									260			255		2.0	%
Natural Gas (in mmcfs)
Retail Deliveries and Sales (d)
Retail Sales		1,678		2,072		(19.0	)%		17			21		(19.0	)%
Transportation and Other (e)		1,325		1,321		0.3	%		5			5		—	%
Total Natural Gas		3,003		3,393		(11.5	)%		22			26		(15.4	)%
Total Electric and Natural Gas Revenues								$	282		$	281		0.4	%
Purchased Power and Fuel								$	113		$	122		(7.4	)%
Electric Service Territory								% Change
Heating and Cooling Degree-Days	2017		2016		Normal			From 2016			From Normal
Heating Degree-Days		481		551		702			(12.7	)%				(31.5	)%
Cooling Degree-Days		342		304		264			12.5	%				29.5	%
Gas Service Territory								% Change
Heating Degree-Days	2017		2016		Normal			From 2016			From Normal
Heating Degree-Days		372		559		504			(33.5	)%				(26.2	)%

Six Months Ended June 30, 2017 and 2016

	Electric and Natural Gas Deliveries							Revenue (in millions)
	2017		2016		% Change			2017		2016		% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		2,404		2,465		(2.5	)%	$	325	$	323		0.6	%
Small Commercial & Industrial		1,057		1,104		(4.3	)%		89		95		(6.3	)%
Large Commercial & Industrial		2,195		2,242		(2.1	)%		51		50		2.0	%
Public Authorities & Electric Railroads		25		26		(3.8	)%		8		7		14.3	%
Total Retail		5,681		5,837		(2.7	)%		473		475		(0.4	)%
Other Revenue (b)									84		83		1.2	%
Total Electric Revenue (c)									557		558		(0.2	)%
Natural Gas (in mmcfs)
Retail Deliveries and Sales (d)
Retail Sales		7,610		8,132		(6.4	)%		75		74		1.4	%
Transportation and Other (e)		3,493		3,289		6.2	%		12		11		9.1	%
Total Natural Gas		11,103		11,421		(2.8	)%		87		85		2.4	%
Total Electric and Natural Gas Revenues								$	644	$	643		0.2	%
Purchased Power and Fuel								$	270	$	298		(9.4	)%

Electric Service Territory							% Change
Heating and Cooling Degree-Days	2017		2016		Normal		From 2016			From Normal
Heating Degree-Days		2,483		2,798		3,119		(11.3	)%		(20.4	)%
Cooling Degree-Days		342		307		266		11.4	%		28.6	%
Gas Service Territory							% Change
Heating Degree-Days	2017		2016		Normal		From 2016			From Normal
Heating Degree-Days		2,403		2,893		3,020		(16.9	)%		(20.4	)%

32

Number of Electric Customers	2017		2016		Number of Natural Gas Customers	2017		2016
Residential		458,361		454,402	Residential		121,166		119,592
Small Commercial & Industrial		60,499		59,904	Commercial & Industrial		9,743		9,669
Large Commercial & Industrial		1,410		1,417	Total Retail		130,909		129,261
Public Authorities & Electric Railroads		636		643	Transportation		155		157
Total		520,906		516,366	Total		131,064		129,418

(a) Reflects delivery volumes and revenues from customers purchasing electricity directly from DPL and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from DPL, revenue also reflects the cost of energy and transmission.

(b) Other revenue includes transmission revenue from PJM and wholesale electric revenues.

(c) Includes operating revenues from affiliates totaling $2 million and $2 million for the three months ended June 30, 2017 and 2016, respectively, and $4 million and $4 million for the six months ended June 30, 2017 and 2016, respectively.

(d) Reflects delivery volumes and revenues from customers purchasing natural gas directly from DPL and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from DPL, revenue also reflects the cost of natural gas.

(e) Transportation and other revenue includes off-system natural gas sales and the short-term release of interstate pipeline transportation and storage capacity not needed to serve customers.

33

EXELON CORPORATION

ACE Statistics

Three Months Ended June 30, 2017 and 2016

	Electric Deliveries							Revenue (in millions)
	2017		2016		% Change			2017		2016			% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		814		814		—	%	$	130	$	131			(0.8	)%
Small Commercial & Industrial		302		283		6.7	%		40		39			2.6	%
Large Commercial & Industrial		853		853		—	%		49		50			(2.0	)%
Public Authorities & Electric Railroads		11		9		22.2	%		4		3			33.3	%
Total Retail		1,980		1,959		1.1	%		223		223			—	%
Other Revenue (b)									47		47			—	%
Total Electric Revenue (c)									270		270			—	%
Purchased Power								$	128	$	141			(9.2	)%
										% Change
Heating and Cooling Degree-Days			2017		2016			Normal		From 2016			From Normal
Heating Degree-Days				600		651			806		(7.8	)%		(25.6	)%
Cooling Degree-Days				324		258			285		25.6	%		13.7	%
Six Months Ended June 30, 2017 and 2016
	Electric Deliveries							Revenue (in millions)
	2017		2016		% Change			2017		2016			% Change
Electric (in GWhs)
Retail Deliveries and Sales (a)
Residential		1,693		1,752		(3.4	)%	$	272	$	281			(3.2	)%
Small Commercial & Industrial		585		572		2.3	%		76		78			(2.6	)%
Large Commercial & Industrial		1,618		1,673		(3.3	)%		94		101			(6.9	)%
Public Authorities & Electric Railroads		24		24		—	%		7		6			16.7	%
Total Retail		3,920		4,021		(2.5	)%		449		466			(3.6	)%
Other Revenue (b)									95		95			—	%
Total Electric Revenue (c)									544		561			(3.0	)%
Purchased Power								$	266	$	298			(10.7	)%
										% Change
Heating and Cooling Degree-Days			2017		2016			Normal		From 2016			From Normal
Heating Degree-Days				2,750		2,921			3,294		(5.9	)%		(16.5	)%
Cooling Degree-Days				324		261			286		24.1	%		13.3	%

Number of Electric Customers	2017		2016
Residential		486,173		483,044
Small Commercial & Industrial		61,013		60,928
Large Commercial & Industrial		3,744		3,806
Public Authorities & Electric Railroads		629		594
Total		551,559		548,372

(a) Reflects delivery volumes and revenues from customers purchasing electricity directly from ACE and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from ACE, revenue also reflects the cost of energy and transmission.

(b) Other revenue includes transmission revenue from PJM and wholesale electric revenues.

(c) Includes operating revenues from affiliates totaling $1 million and $1 million for the three months ended June 30, 2017 and 2016, respectively, and $1 million and $2 million for the six months ended June 30, 2017 and 2016, respectively.

34