Duke Energy Corporation, through its subsidiary Progress Energy, Inc., and Florida Progress, LLC, completed the initial closing of an indirect minority investment in Duke Energy Florida, LLC by Peninsula Power Holdings L.P., an affiliate of Brookfield Super-Core Infrastructure Partners. At the First Closing on March 3, 2026, Florida Progress issued and sold 9.2% of its membership interests to Investor for approximately $2.8 billion. Following the First Closing, Progress Energy holds 90.81% of the Common Units in Florida Progress, and the New Investor holds 9.19%. Additional investments totaling $3.2 billion are committed for future closings: $200 million by December 31, 2026; $500 million by June 30, 2027; $1.5 billion by December 31, 2027; and $1 billion by June 30, 2028. The Investor's ownership interest in Florida Progress is anticipated to proportionally increase with each subsequent investment, eventually reaching 19.7%. An Amended and Restated Limited Liability Company Operating Agreement of Florida Progress (LLC Agreement) was entered into, establishing the governance framework and providing the Investor with limited governance rights commensurate with its anticipated ownership.