On this page of StockholderLetter.com we present the latest annual shareholder letter from CENTERPOINT ENERGY INC — ticker symbol CNP. Reading current and past CNP letters to shareholders can bring important insights into the investment thesis.
2025 Annual Report
shareholders and the customers and communities To our we are privileged to serve: This year s achievements reflect the dedication of nearly 8,800 CenterPoint Energy coworkers whose commitment to our more than 7 million customers and our communities continues to inspire me. Whether restoring power after severe weather events, modernizing thousands of miles of natural gas or electric infrastructure, or helping customers expand their businesses, our coworkers remain the driving force behind our success and the engine of our growth. Together, we remain purpose driven, safety focused, and steadfast in advancing the resiliency of our coastal grid, modernizing our systems, and delivering service to new customers every day. multi-sector expansion which represents one of the most diverse and compelling growth stories in the industry. We believe our customer-driven execution, along with our constructive regulatory environments and focus on long-term customer affordability, creates a unique and compelling opportunity to deliver long-term value for our shareholders. Through purposeful execution, disciplined financial management, and the strategic repositioning of our portfolio, we have solidified our standing as a premium energy delivery company. Each year, we strive to move closer to realizing our vision of becoming the most admired utility in the United States. As we first shared last fall, our company-record, 10 year capital investment plan of over $65 billion through 2035 is being fueled by industry-leading, 1 2025 CenterPoint Energy Annual Report
Proof in performance Our 2025 financial results underscore our belief in our ability to deliver long-term, sustainable value. In September, we introduced a peer-leading 10-year non-GAAP earnings per diluted share (EPS) guidance growth range of 7-9% annually through 2035, targeting the mid-to-high end of that range from 2026 through 2028. I am proud to report that during 2025 we both increased and delivered on our 2025 non-GAAP EPS guidance, achieving 9% non GAAP EPS growth in four of the last five years and 9% annual dividend growth per share year over year. 1 Our stock continues to demonstrate relative strength, with a valuation that is premium to our peers, which reflects the market s confidence in our strategy that is anchored in three interconnected pillars: Growth, Serving more than Resiliency, and Energy Security. 7 million homes and businesses with natural gas and electricity Note: Disclaimers regarding forward-looking statements, our energy transition goals, and non-GAAP financial metrics, including a reconciliation of non-GAAP measures to the nearest GAAP metric and information about forward-looking non-GAAP metrics (including inability to present a reconciliation to the nearest GAAP metrics), can be found in the Investor Information section of the report. 1 2025 CenterPoint Energy Annual Report 2
Executing our customer-centric growth strategy As noted, we are experiencing an extraordinary period of diversified growth, particularly within our CenterPoint Energy Houston Electric (Houston Electric) service territory. We are focused on a wide and diverse set of sectors including industrial, energy, logistics, advanced manufacturing, life sciences, transportation, and data centers. The scale of this demand across these industries is incredible and is projected to fuel a nearly 50% increase in electric demand by 2029 and nearly doubling by 2035 as compared to 2024. This is coupled with an expected organic annual residential growth rate of roughly 2% in the Greater Houston area in line with long-term trends, which we believe will help us continue to keep our portion of customer bills affordable into the near future. Additionally, recent constructive regulatory outcomes have provided regulatory clarity through 2028, with approximately 80% of our enterprise rate base not expected to be subject to rate case proceedings for several years. With these drivers, we are well positioned to support the region as it enters a new era of increased economic investment and development. 3 We plan to dedicate at least $19 billion to a transformative new era of electric transmission buildout in Texas that includes new 765 kilovolt standards to accommodate the incredible electric demand underpinned by the tremendous economic and population growth forecasted in the state. This infrastructure plan is not only the backbone of Texas s future energy, but also a powerful financial engine, driving our rate base growth through 2035. 2025 CenterPoint Energy Annual Report
Proven and measurable system resiliency Houston is home to our headquarters and is the Energy Capital of the World. Given the economic interdependencies of our state and nation, regional resiliency is not optional it is essential. We are hardening our system to withstand a higher wind and resiliency standard, which should help minimize impacts and disruptions to our customers, even through extreme weather events. In 2025, we delivered significant improvements in electric reliability and resiliency for Houston Electric. Through operational excellence, technological innovation, and targeted infrastructure investments, we reduced outages over 25%, representing more than 100 million fewer minutes of outages for our customers, and decreased vegetation-related outages by 50% compared to 2024. Importantly, we achieved these improvements while continuing our record of keeping our portion of customer bills nearly flat for Houston Electric customers over the last decade. Looking ahead to 2026, we plan to deploy roughly $1 billion in System Resiliency Plan investments to further advance our Greater Houston Resiliency upgrades. Our goal is clear: to build and operate the most resilient coastal grid in the nation. We also fulfilled major commitments of the Greater Houston Resiliency Initiative (GHRI) ahead of the 2025 hurricane season and we did not stop there. This work continued through all of 2025 and produced measurable benefits, including shorter outage durations and a stronger coastal grid. 2025 GHRI accomplishments include: 2025 CenterPoint Energy Annual Report 41,000+ 400+ 4,500+ 430+ hardened storm resilient poles installed new intelligent self healing grid switches installed miles of high priority vegetation trimmed miles of overhead lines relocated and undergrounded 4
 • shareholder letter icon 3/4/2026 Letter Continued (Full PDF)
 • stockholder letter icon 3/9/2023 CNP Stockholder Letter
 • stockholder letter icon 3/15/2024 CNP Stockholder Letter
 • stockholder letter icon 3/5/2025 CNP Stockholder Letter
 • stockholder letter icon More "Electric Utilities" Category Stockholder Letters
 • Benford's Law Stocks icon CNP Benford's Law Stock Score = 97


CNP Shareholder/Stockholder Letter Transcript:

2025
Annual Report

shareholders and the
customers and communities
To our
we are privileged to serve:
This year   s achievements reflect the dedication
of nearly 8,800 CenterPoint Energy coworkers
whose commitment to our more than 7 million
customers and our communities continues to inspire
me. Whether restoring power after severe weather
events, modernizing thousands of miles of natural
gas or electric infrastructure, or helping customers
expand their businesses, our coworkers remain the
driving force behind our success and the engine of our
growth. Together, we remain purpose driven, safety
focused, and steadfast in advancing the resiliency
of our coastal grid, modernizing our systems, and
delivering service to new customers every day.
multi-sector expansion which represents one of the
most diverse and compelling growth stories in the
industry. We believe our customer-driven execution,
along with our constructive regulatory environments
and focus on long-term customer affordability, creates a
unique and compelling opportunity to deliver long-term
value for our shareholders.
Through purposeful execution, disciplined financial
management, and the strategic repositioning of our
portfolio, we have solidified our standing as a premium
energy delivery company. Each year, we strive to move
closer to realizing our vision of becoming the most
admired utility in the United States.
As we first shared last fall, our company-record,
10   year capital investment plan of over $65 billion
through 2035 is being fueled by industry-leading,
1
2025 CenterPoint Energy Annual Report

Proof
in
performance
Our 2025 financial results underscore our belief in our ability to
deliver long-term, sustainable value. In September, we introduced a
peer-leading 10-year non-GAAP earnings per diluted share (EPS)
guidance growth range of 7-9% annually through 2035, targeting the
mid-to-high end of that range from 2026 through 2028. I am proud to
report that during 2025 we both increased and delivered on our 2025
non-GAAP EPS guidance, achieving 9% non   GAAP EPS growth
in four of the last five years and 9% annual dividend growth per
share year   over   year. 1
Our stock continues to demonstrate relative strength, with a valuation
that is premium to our peers, which reflects the market   s confidence
in our strategy that is anchored in three interconnected pillars:
Growth,
Serving more than
Resiliency,
and
Energy Security.
7 million
homes and businesses
with natural gas
and electricity
Note: Disclaimers regarding forward-looking statements, our energy transition goals,
and non-GAAP financial metrics, including a reconciliation of non-GAAP measures to
the nearest GAAP metric and information about forward-looking non-GAAP metrics
(including inability to present a reconciliation to the nearest GAAP metrics), can be
found in the Investor Information section of the report.
1
2025 CenterPoint Energy Annual Report
2

Executing our
customer-centric
growth strategy
As noted, we are experiencing an extraordinary
period of diversified growth, particularly within our
CenterPoint Energy Houston Electric (Houston
Electric) service territory. We are focused on a wide
and diverse set of sectors including industrial,
energy, logistics, advanced manufacturing,
life sciences, transportation, and data centers.
The scale of this demand across these industries
is incredible and is projected to fuel a nearly 50%
increase in electric demand by 2029 and nearly
doubling by 2035 as compared to 2024. This is
coupled with an expected organic annual residential
growth rate of roughly 2% in the Greater Houston
area in line with long-term trends, which we believe
will help us continue to keep our portion of customer
bills affordable into the near future. Additionally, recent
constructive regulatory outcomes have provided
regulatory clarity through 2028, with approximately
80% of our enterprise rate base not expected to
be subject to rate case proceedings for several
years. With these drivers, we are well positioned to
support the region as it enters a new era of increased
economic investment and development.
3
We plan to dedicate at least $19 billion to a
transformative new era of electric transmission
buildout in Texas that includes new 765 kilovolt
standards to accommodate the incredible electric
demand underpinned by the tremendous economic
and population growth forecasted in the state. This
infrastructure plan is not only the backbone of Texas   s
future energy, but also a powerful financial engine,
driving our rate base growth through 2035.
2025 CenterPoint Energy Annual Report

Proven and measurable
system resiliency
Houston is home to our headquarters and is the Energy Capital of the
World. Given the economic interdependencies of our state and nation,
regional resiliency is not optional     it is essential. We are hardening
our system to withstand a higher wind and resiliency standard, which
should help minimize impacts and disruptions to our customers, even
through extreme weather events.
In 2025, we delivered significant improvements in electric reliability
and resiliency for Houston Electric. Through operational excellence,
technological innovation, and targeted infrastructure investments, we
reduced outages over 25%, representing more than 100 million
fewer minutes of outages for our customers, and decreased
vegetation-related outages by 50% compared to 2024. Importantly,
we achieved these improvements while continuing our record of
keeping our portion of customer bills nearly flat for Houston
Electric customers over the last decade.
Looking ahead to 2026, we
plan to deploy roughly $1 billion
in System Resiliency Plan
investments to further advance
our Greater Houston Resiliency
upgrades. Our goal is clear:
to build and operate the
most resilient coastal grid in
the nation.
We also fulfilled major commitments of the Greater Houston
Resiliency Initiative (GHRI) ahead of the 2025 hurricane season    
and we did not stop there. This work continued through all of 2025 and
produced measurable benefits, including shorter outage durations and
a stronger coastal grid.
2025 GHRI
accomplishments
include:
2025 CenterPoint Energy Annual Report
41,000+
400+
4,500+
430+
hardened
storm   resilient
poles installed
new intelligent
   self   healing   
grid switches
installed
miles of
high   priority
vegetation
trimmed
miles of
overhead lines
relocated and
undergrounded
4



shareholder letter icon 3/4/2026 Letter Continued (Full PDF)
 

CNP Stockholder/Shareholder Letter (CENTERPOINT ENERGY INC) | www.StockholderLetter.com
Copyright © 2023 - 2026, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.