DTE Energy Company (DTE) investor relations material

Executive summary

• Delivered strong operational and financial results in Q2 2026, with net income attributable to shareholders of $282 million ($1.35 per diluted share), up from $229 million ($1.10 per share) in Q2 2025, and operating earnings of $274 million ($1.32 per share).

• Advanced major data center projects with Oracle (1.4 GW) and Google (1 GW), supporting long-term growth, customer affordability, and grid modernization.

• Invested over $2.6 billion in utilities in H1 2026, including $900 million for electric reliability and a $1.6 billion battery storage initiative.

• Maintained high employee engagement, recognition for workplace excellence, and expanded renewable energy partnerships.

• Strategic regulatory and capital allocation focus supports continued value creation and stakeholder visibility.

Financial highlights

• Q2 2026 operating earnings were $274 million ($1.32 per share), with reported net income of $282 million ($1.35 per share); six-month net income was $529 million, down from $674 million in the prior year.

• Q2 2026 operating revenues were $2,044 million, up from $1,979 million in Q2 2025; six-month revenues were $4,667 million, up from $4,286 million.

• DTE Electric Q2 earnings were $270 million, down $48 million year-over-year; DTE Gas Q2 net loss was $4 million; DTE Vantage Q2 net income was $45 million, up $14 million; Energy Trading Q2 net income was $49 million, up $17 million.

• Cash from operations for the six months was $1,679 million; capital expenditures and acquisitions for the first half totaled $2,721 million.

• Dividend payments for the first half of 2026 totaled $485 million.

Outlook and guidance

• 2026 operating EPS guidance confirmed at $7.59–$7.73, with a midpoint of $7.66, representing 7% growth over 2025; on track to reach the high end of the 6%-8% long-term EPS growth target through 2030.

• Data center contracts, especially with Google and Oracle, provide upside to growth targets and could delay future rate increases.

• Five-year capital plan increased to $36.5 billion, with $30 billion for DTE Electric, including $5 billion incremental for new data center agreements.

• DTE Gas expects a final MPSC order on a $163 million rate increase request by September 2026.

• Additional equity issuances of $500–$600 million are anticipated annually through 2028 to support growth.