DTE Energy Company · NYSE:DTE
DTE Energy — Investor Presentation (March 2026)
18 slides from DTE Energy's investor presentation, Mar 24, 2026
Slide 1: Business Update
Business Update March 24, 2026
Slide 2: Safe harbor statement
Safe harbor statement The information contained herein is as of the date of this document. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this document as a result of new information or future events or developments. Words such as “anticipa
Slide 3: Continuing to deliver exceptional results for our stakeholders; well positioned for long-term growth
Continuing to deliver exceptional results for our stakeholders; well positioned for long-term growth ✓ Highly engaged team committed to delivering best-in-class results for our customers, communities and investors ✓ Achieving significant reliability improvements for our customers driven by strategic
Slide 4: Strong operational performance in 2025 continues to drive improved reliability and cleaner generation
Strong operational performance in 2025 continues to drive improved reliability and cleaner generation Significant reliability improvement driven by strategic investments and process improvements, along with more favorable weather ✓ ~90% improvement in duration of outages since 2023 ✓ Achieved best a
Slide 5: Data center development and investments drive significant increase to five-year capital plan
Data center development and investments in reliability and cleaner generation drive significant increase to five-year capital plan; additional data center opportunities provide upside to plan 5-year investment plan Additional data center opportunities (above the approved (billions) 1.4 GW Oracle agr
Slide 6: Data center opportunities continue to progress; Oracle approved; 1 GW Google agreement
Data center opportunities continue to progress; 1.4 GW Oracle data center approved and moving forward; executed 1 GW agreement with Google Oracle • Contracts approved by MPSC and construction initiated; demand ramping up over next 2 to 3 years 1.4 GW • Load ramp supported by existing capacity and ne
Slide 7: Data center projects combined with continuous improvement will sustain affordability
Data center projects combined with our continuous improvement culture will sustain our historical success of managing customer affordability Data centers drive significant affordability benefits for Top tier affordability Total electric residential bill change % from 2021 to 20251 existing customers
Slide 8: 2026 operating EPS guidance midpoint provides 7% growth over 2025 original guidance midpoint
2026 operating EPS1 guidance midpoint provides 7% growth over 2025 original guidance midpoint; positioned to achieve high end (millions, except EPS) 2026 operating earnings DTE Electric $1,340 - $1,360 • Utility growth driven by customer-focused investment supporting building the grid of the future
Slide 9: Maintaining strong cash flows, balance sheet and credit profile
Maintaining strong cash flows, balance sheet and credit profile Strong balance sheet supports robust customer-focused investment agenda • Customer-focused capital investment plan is supported by consistent, healthy cash flows • Targeting equity issuances of $500 - $600 million annually 2026 – 2028,
Slide 10: Well positioned to drive long-term value for shareholders while delivering affordable, reliable energy
Well positioned to continue to drive long-term value for shareholders while delivering affordable, reliable energy for our customers • Met or exceeded operating EPS1 guidance 18 of past 19 years Consistent Financial Results • Strong balance sheet and credit metrics support the execution of our long-
Slide 11: Appendix
Appendix 11
Slide 12: DTE Electric: significant investment increase driven by Oracle data center project
DTE Electric: significant investment increase driven by Oracle data center project, cleaner generation investments supporting future coal plant retirements and continued hardening of our distribution system • Capital increase of $6 billion from prior plan is primarily driven by Oracle data center pr
Slide 13: DTE Gas: replacing aging infrastructure to ensure reliability and safety
DTE Gas: replacing aging infrastructure to ensure reliability and safety for our customers DTE Gas investment (billions) • Continuing to improve customer service excellence and progress on main renewal − Ongoing progress on main renewal program; renewed ~2,000 miles since % $4.5 ~13 program inceptio
Slide 14: DTE Vantage: strategic focus on custom energy solutions projects
JN DTE Vantage: strategic focus on custom energy solutions projects • Progressing on project development − Continuing construction on the long-term, fixed-fee custom energy solutions project with Ford Motor Company; expecting commercial operation in 2026 − Began construction on project to design, bu
Slide 15: Top tier affordability for our customers over the last 4 years
Top tier affordability for our customers over the last 4 years State comparison – electric residential bill change % from 2021 to 20251 1st quartile 2nd quartile 3rd quartile 4th quartile U.S. average 25.5% Great Lakes average 24.4% 5.3% DTE 1. Source: Energy Information Administration (EIA). Ending
Slide 16: ESG efforts are key priorities; aspiring to be the best in the industry
Environmental, social and governance (ESG) efforts are key priorities; aspiring to be the best in the industry Environment • Transitioning towards net zero1 emissions at both utilities • Accelerating transition to cleaner generation • Protecting our natural resources Social • Focusing on the diversi
Slide 17: Cash flow and capital expenditures
Cash flow and capital expenditures Cash flow Capital expenditures (billions) (millions) 2026 2026 guidance guidance Cash from operations1 $3.9 DTE Electric Capital expenditures (6.8) Base infrastructure $1,020 Free cash flow ($2.9) Cleaner generation 2,440 Dividends (1.0) Distribution infrastructure
Slide 18: Reconciliation of reported to operating earnings (non-GAAP); Definition of net zero
Reconciliation of reported to operating earnings (non-GAAP) Use of Operating Earnings Information – Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. DTE Energy management believes that operating earnings provide a meaningful representati
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