Financial Analysis

Note 16. Commitments and Contingencies As a result of issues generated in the ordinary course of business, the Companies are involved in legal proceedings before various courts and are periodically subject to governmental examinations (including by regulatory authorities), inquiries and investigations. Certain legal proceedings and governmental examinations involve demands for unspecified amounts of damages, are in an initial procedural phase, involve uncertainty as to the outcome of pending appeals or motions or involve significant factual issues that need to be resolved, such that it is not possible for the Companies to estimate a range of possible loss. For such matters that the Companies cannot estimate, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the litigation or investigative processes such that the Companies are able to estimate a range of possible loss. For legal proceedings and governmental examinations that the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. The Companies maintain various insurance programs, including general liability insurance coverage which provides coverage for personal injury or wrongful death cases. Any accrued liability is recorded on a gross basis with a receivable also recorded for any probable insurance recoveries. Estimated rang …

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Note 15. Significant Financing Transactions Credit Facilities and Short-term Debt The Companies use short-term debt to fund working capital requirements and as a bridge to long-term debt financings. The levels of borrowing may vary significantly during the course of the year, depending upon the timing and amount of cash requirements not satisfied by cash from operations. In addition, Dominion Energy utilizes cash and letters of credit to fund collateral requirements. Collateral requirements are impacted by capital projects, commodity prices, hedging levels, Dominion Energys credit ratings and the credit quality of its counterparties. Other than the items discussed below, there have been no significant changes regarding the Companies credit facilities and short-term debt as described in Note 17 to the Consolidated Financial Statements in the Companies Annual Report on Form 10-K for the year ended December 31, 2025. Dominion Energy Dominion Energys short-term financing is primarily supported by its joint revolving credit facility. At June 30, 2026, Dominion Energys commercial paper and letters of credit outstanding, as well as its capacity available under the credit facility discussed above and its supplemental revolving credit facility, were as follows: Facility Limit Outstanding Commercial Paper Outstanding Letters of Credit Facility Capacity Available (millions) Joint revolving credit facility (1) $ 7,000 $ 2,087 $ 4 $ 4,909 Supplemental revolving credit facility (2) 1,000 1 …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Note 7. Fair Value Measurements The Companies fair value measurements are made in accordance with the policies discussed in Note 2 to the Consolidated Financial Statements in the Companies Annual Report on Form 10-K for the year ended December 31, 2025. See Note 8 for additional information about the Companies derivatives and hedge accounting activities. The Companies enter into certain physical and financial forwards, futures and options, which are considered Level 3 as they have one or more inputs that are not observable and are significant to the valuation. The discounted cash flow method is used to value Level 3 physical and financial forwards and futures contracts. An option model is used to value Level 3 physical options. The discounted cash flow model for forwards and futures calculates mark-to-market valuations based on forward market prices, original transaction prices, volumes, risk-free rate of return and credit spreads. The inputs into the option models are the forward market prices, implied price volatilities, risk-free rate of return, the option expiration dates, the option strike prices, the original sales prices and volumes. For Level 3 fair value measurements, certain forward market prices, implied price volatilities and credit spreads are considered unobservable. The following table presents the Companies quantitative information about Level 3 fair value measurements at June 30, 2026. The range and weighted-average are presented in dollars for market price i …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Note 4. Income Taxes Other than the following matters, there have been no significant developments regarding the Companies provision for income taxes, tax-related assets and liabilities and/or unrecognized tax benefits disclosed in Note 5 to the Consolidated Financial Statements in the Companies Annual Report on Form 10-K for the year ended December 31, 2025. For continuing operations including noncontrolling interests for the six months ended June 30, 2026, the statutory U.S. federal income tax rate reconciles to the Companies effective income tax rate as follows: Dominion Energy Virginia Power (millions, except percentages) Amount Rate Amount Rate U.S. federal statutory tax $ 270 21.0 % $ 351 21.0 % State and local income taxes, net of federal income tax effect (1) 53 4.1 66 4.0 Tax credits: Production tax credits (2) ( 91 ) ( 7.1 ) ( 34 ) ( 2.0 ) Investment tax credit amortization ( 44 ) ( 3.4 ) ( 23 ) ( 1.4 ) Nontaxable or nondeductible items: Regulatory deferrals: Reversal of excess deferred income taxes ( 33 ) ( 2.6 ) ( 23 ) ( 1.4 ) AFUDCequity ( 15 ) ( 1.2 ) ( 16 ) ( 1.0 ) Absence of tax on noncontrolling interest ( 29 ) ( 2.1 ) ( 29 ) ( 1.8 ) Other adjustments: Qualified nuclear decommissioning trust net gains (losses) 61 4.8 10 0.6 Other ( 2 ) ( 0.3 ) ( 3 ) ( 0.1 ) Effective tax (3) $ 170 13.2 % $ 299 17.9 % (1) State taxes in Virginia make up the majority (greater than 50%) of the tax effect in this category. (2) Dominion Energy production tax credits include a $ 50 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Note 19. Employee Benefit Plans Net Periodic Benefit (Credit) Cost The service cost component of net periodic benefit (credit) cost is reflected in other operations and maintenance expense in Dominion Energys Consolidated Statements of Income. The non-service cost components of net periodic benefit (credit) cost are reflected in other income (expense) in Dominion Energys Consolidated Statements of Income. The components of Dominion Energys provision for net periodic benefit (credit) cost are as follows: Pension Benefits Other Postretirement Benefits Quarter-to-Date Year-to-Date Quarter-to-Date Year-to-Date Period Ended June 30, 2026 2025 2026 2025 2026 2025 2026 2025 (millions) Service cost $ 19 $ 19 $ 38 $ 38 $ 3 $ 2 $ 5 $ 5 Interest cost 107 109 215 217 14 15 27 29 Expected return on plan assets ( 158 ) ( 169 ) ( 317 ) ( 338 ) ( 44 ) ( 40 ) ( 87 ) ( 80 ) Amortization of prior service (credit) cost 1 1 ( 6 ) ( 7 ) ( 11 ) ( 13 ) Net periodic benefit (credit) cost $ ( 31 ) $ ( 41 ) $ ( 63 ) $ ( 83 ) $ ( 33 ) $ ( 30 ) $ ( 66 ) $ ( 59 ) Employer Contributions During the three and six months ended June 30, 2026 , Dominion Energy made $ 5 million and $ 10 million, respectively, of contributions to its qualified defined benefit pension plans. Dominion Energy expects to make $ 24 million of minimum required contributions to its qualified defined benefit pension plans in 2026. Dominion Energy is not required to make any contributions to its VEBAs associated with its other postretirem …

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Note 18. Related-Party Transactions Dominion Energys transactions with equity method investments are described in Note 9. Virginia Power engages in related-party transactions primarily with other Dominion Energy subsidiaries (affiliates). Virginia Powers receivable and payable balances with affiliates are settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Virginia Power is included in Dominion Energys consolidated federal income tax return and, where applicable, combined income tax returns for Dominion Energy are filed in various states. A discussion of Virginia Powers significant related-party transactions follows. Virginia Power transacts with affiliates for certain quantities of natural gas and other commodities in the ordinary course of business. Virginia Power also enters into certain commodity derivative contracts with affiliates. Virginia Power uses these contracts, which are principally comprised of forward commodity purchases, to manage commodity price risks associated with purchases of natural gas. At June 30, 2026 , Virginia Powers derivative assets and liabilities with affiliates were $ 11 million and $ 10 million, respectively. At December 31, 2025 , Virginia Powers derivative assets and liabilities with affiliates were $ 22 million and $ 12 million, respectively. See Note 8 for additional information. Virginia Power participates in certain Dominion Energy benefit plans described in Note 22 to the Con …

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Note 20. Operating Segments The Companies are organized primarily on the basis of products and services sold in the U.S. A description of the operations included in the Companies primary operating segments is as follows: Primary Operating Segment Description of Operations Dominion Energy Virginia Power Dominion Energy Virginia Regulated electric distribution X X Regulated electric transmission X X Regulated electric generation fleet (1) X X Dominion Energy South Carolina Regulated electric distribution X Regulated electric transmission X Regulated electric generation fleet X Regulated gas distribution and storage X Contracted Energy (2) Nonregulated electric generation fleet X (1) Includes Virginia Powers non-jurisdictional solar generation operations. (2) Includes renewable natural gas and offshore wind installation vessel operations. In addition to the operating segments above, the Companies also report a Corporate and Other segment. Dominion Energy The Corporate and Other Segment of Dominion Energy includes its corporate, service company and other functions (including unallocated debt) as well as its noncontrolling interest in Dominion Privatization. In addition, Corporate and Other includes specific items attributable to Dominion Energys operating segments that are not included in profit measures evaluated by executive management in assessing the segments performance or in allocating resources, including the net impact of the operations reflected as discontinued operation …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Note 2. Significant Accounting Policies As permitted by the rules and regulations of the SEC, the Companies accompanying unaudited Consolidated Financial Statements contain certain condensed financial information and exclude certain footnote disclosures normally included in annual audited consolidated financial statements prepared in accordance with GAAP. These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes in the Companies Annual Report on Form 10-K for the year ended December 31, 2025. In the Companies opinion, the accompanying unaudited Consolidated Financial Statements contain all adjustments necessary to present fairly their financial position at June 30, 2026, their results of operations and changes in equity for the three and six months ended June 30, 2026 and 2025 and their cash flows for the six months ended June 30, 2026 and 2025 . Such adjustments are normal and recurring in nature unless otherwise noted. The Companies make certain estimates and assumptions in preparing their Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, expenses and cash flows for the periods presented. Actual results may differ from those estimates. The Companies accompanying unaudited Consol …

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Note 6. Accumulated Other Comprehensive Income (Loss) Dominion Energy The following tables present Dominion Energys changes in AOCI (net of tax) and reclassifications out of AOCI by component: Total Derivative-Hedging Activities (1) Investment Securities Pension and other postretirement benefit costs (2) Total (millions) Three Months Ended June 30, 2026 Beginning balance $ ( 179 ) $ $ 24 $ ( 155 ) Beginning balance, tax 45 ( 6 ) 39 Beginning balance, net of tax ( 134 ) 18 ( 116 ) Other comprehensive income (loss) before reclassifications: gains (losses) 12 ( 1 ) 11 Amounts reclassified from AOCI: (gains) losses Interest and related charges 9 9 Other income (expense) ( 3 ) ( 3 ) Total 9 ( 3 ) 6 Income tax expense (benefit) ( 2 ) 1 ( 1 ) Total, net of tax 7 ( 2 ) 5 Net current period other comprehensive income (loss) 19 ( 1 ) ( 2 ) 16 Ending balance, net of tax ( 115 ) ( 1 ) 16 ( 100 ) Ending balance, tax 39 ( 5 ) 34 Ending balance $ ( 154 ) $ ( 1 ) $ 21 $ ( 134 ) Three Months Ended June 30, 2025 Beginning balance $ ( 240 ) $ 1 $ 35 $ ( 204 ) Beginning balance, tax 61 2 ( 9 ) 54 Beginning balance, net of tax ( 179 ) 3 26 ( 150 ) Other comprehensive income (loss) before reclassifications: gains (losses) ( 2 ) ( 2 ) Amounts reclassified from AOCI: (gains) losses Interest and related charges 10 10 Other income (expense) 3 ( 3 ) Total 10 3 ( 3 ) 10 Income tax expense (benefit) ( 3 ) ( 1 ) 1 ( 3 ) Total, net of tax 7 2 ( 2 ) 7 Net current period other comprehensive income (loss) 7 ( …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing