Talen Energy Corporation

• Talen Energy Corporation
• Energy

TLN

Offering Team

Pre-IPO Investors

Deal Highlights

Talen owns and operates power infrastructure in the United States. We produce and sell electricity, capacity and ancillary services into wholesale power markets in the United States, primarily in PJM and WECC, with our generation fleet principally located in the Mid-Atlantic and Montana. We recently completed the sale of our ERCOT fleet. See “Prospectus Summary—Recent Developments—ERCOT Sale” for additional information.

The majority of our generation is produced at zero-carbon nuclear and lower-carbon gas-fired facilities and we are continuing our decarbonization efforts. In addition, as part of our Cumulus digital infrastructure and energy transition platform, we developed, and recently sold to AWS, the Cumulus Data Campus adjacent to our zero-carbon Susquehanna nuclear facility that will utilize carbon-free, low-cost energy provided directly from the plant, providing both an attractive source of demand for the plant and a new source of incremental revenues for us. See “Prospectus Summary—Recent Developments—Cumulus Data Campus Sale ” for additional information. In 2023, we generated enough power for over 3 million average American homes (based on the U.S. Energy Information Administration’s 2022 estimate of 10,791 KWh per home).

In the first three months of 2024, Talen generated $319 million of net income and approximately $289 million of Adjusted EBITDA. “Summary Historical and Unaudited Pro Forma Condensed Consolidated Financial Information—Non-GAAP Financial Measures” contains a description of Adjusted EBITDA and a reconciliation to the most directly comparable GAAP measure. less

Talen owns and operates power infrastructure in the United States. We produce and sell electricity, capacity and ancillary services into wholesale power markets in the United States, primarily in PJM and WECC, with our generation fleet principally located in the Mid-Atlantic and Montana. We recently completed the sale of our ERCOT fleet. See “Prospectus Summary—Recent Developments—ERCOT Sale” for additional information. The majority of our generation is produced a More

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