Talen Energy Announces Long-Term Capacity Sale Of 750 MW To Investment Grade Counterparty In PJM; Seven-Year Agreement Is Expected To Generate ~$100M Per Year In Revenue

Talen Energy Corporation ("Talen," the "Company," "we" or "our") (NASDAQ:TLN), a leading independent power producer, today announced a long-term capacity sale of 750 megawatts ("MW") to an investment grade counterparty in PJM. The seven-year agreement covers PJM Delivery Years 2029/2030 through 2035/2036 and is expected to generate approximately $100 million per year in revenue.

Key Strategic Highlights:

• Ten years of capacity visibility: The Guernsey Power Station ("Guernsey") will contribute 750 MW of accredited capacity under the agreement, covering the 2029/2030 through 2035/2036 PJM Delivery Years. In combination with the cleared capacity auctions, we now have ten years and approximately $1 billion of cumulative capacity revenue visibility from these megawatts.
• Locks in long-term contracted capacity payments: The transaction highlights the long-term value of Talen’s operating assets in PJM as demand for power grows.
• Increases contracted gross margin: Together with the AWS long-term contract, this agreement increases the contracted share of Talen’s gross margin to 40% through 2036. This improves the cash flow visibility and reduces the overall risk profile associated with the Company’s earnings.