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We are 2019 Annual Meeting of Shareholders May 7, 2019 Columbia, - PowerPoint PPT Presentation

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We are 2019 Annual Meeting of Shareholders May 7, 2019 Columbia, S.C. Thomas F . Farrell, II Chairman, President & CEO Dominion Energy, Inc. Important Note to Investors This presentation contains certain forward-looking statements,

  1. We are 2019 Annual Meeting of Shareholders May 7, 2019 Columbia, S.C. Thomas F . Farrell, II Chairman, President & CEO Dominion Energy, Inc.

  2. Important Note to Investors This presentation contains certain forward-looking statements, including forecasted operating earnings for full-year 2019, which are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations may include factors that are beyond the company's ability to control or estimate precisely, including fluctuations in energy-related commodity prices, estimates of future market conditions, additional competition in our industries, changes in the demand for Dominion Energy’s services, access to and costs of capital, fluctuations in the value of our pension assets and assets held in our decommissioning trusts, retirements of assets based on asset portfolio reviews, and the ability to complete planned construction or expansion projects at all or within the terms and timeframes initially anticipated. Other factors include, but are not limited to, weather conditions and other events, including the effects of hurricanes, high winds, severe storms, earthquakes, floodin g and changes in water temperatures on operations, the risk associated with the operation of nuclear facilities, unplanned outages at facilities in which Dominion Energy has an ownership interest, the impact of operational hazards and catastrophic events, state and federal legislative and regulatory d evelopments, including changes in federal and state tax laws and changes to environmental and other laws and regulations, including those related to climate ch ange, greenhouse gases and other emissions to which we are subject, changes in enforcement practices of regulators relating environmental standards and litigation exposure for remedial activities, political and economic conditions, industrial, commercial and residential growth or decline in Dominion Energy’s service area, risks of operating businesses in regulated industries that are subject to changing regulatory structures, changes to regulated gas and electric rates collected by Dominion Energy, changes to rating agency requirements and ratings, changing financial accounting standards, fluctuations in interest rates, employee workforce factors, including collective bargaining, counter-party credit and performance risks, adverse outcomes in litigation matters or regulatory proceedings, the risk of hostile cyber intrusions and other uncertainties. Other risk factors are detailed from time to time in Dominion Energy’s most recent qu arterly report on Form 10-Q or annual report on Form 10-K filed with the Securities and Exchange Commission. Projections or forecasts shown in this presentation are based on the assumptions listed in this presentation and are subject to change at any time. Dominion Energy undertakes no obligation to update any forward-looking information statement to reflect developments after the statement is made. In addition, certain information presented in this document incorporates planned capital expenditures reviewed and endorsed by Dominion Energy’s B oard of Directors in late 2018.. Dominion Energy undertakes no obligation to update such planned expenditures to reflect plan or project-specific developments, including regulatory developments, or other updates until the following annual update for the plans. Actual capital expenditures may be subject to regulatory and/or Board of Directors’ approval and may vary from these estimates. 2

  3. Today’s Topics 1. Welcome to South Carolina 2. Five Core Values 3. Where We Are Today 4. Growth Plan 5. Commitment to Community 6. Summary

  4. Welcome to South Carolina • Completed SCANA combination Jan. 1 • Employees: 4,300 • 2018 charitable giving: About $2 million ➢ Expected to more than double in 2019 • Utility customer accounts: 1.11 million • Energy infrastructure ➢ 5,730 megawatts electric generation ➢ 22,000 miles electric distribution, transmission lines ➢ 11,700 miles gas distribution, transmission pipeline 4 Please refer to the “Important Note to Investors” on slide 2 of this presentation.

  5. Our Footprint in South Carolina Electric service ar area Columbia Electric generat ating stations Myrtle Beach Charleston Columbia Gas service ar area Myrtle Beach Domi minion Energy Carolina Gas Transmission Charleston 5

  6. Residential Customer Bills Summer 2018 $150 $130 $110 $151.47 $147.70 $139.76 $90 $121.53 $70 $50 South Carolina South Atlantic East Coast Average National Average Electric & Gas Average 6 Source: EEI Typical Bills and Annual Rates Report, Summer 2018.

  7. Residential Customer Bills May 2019 $150 $130 $110 $155.70 $140.63 $90 $124.35 $120.18 $70 $50 Dominion Energy South Atlantic East Coast Average National Average South Carolina Average 7 Source: EEI Typical Bills and Annual Rates Report, Winter 2019.

  8. Industrial Rates Summer 2018 10 Cents per Kilowatt-Hour 8 6 8.87 4 7.19 7.04 6.58 2 0 South Carolina South Atlantic East Coast Average National Average Electric & Gas Average 8 Source: EEI Typical Bills and Annual Rates Report, Summer 2018.

  9. Industrial Rates May 2019 10 Cents per Kilowatt-Hour 8 6 9.59 4 7.01 6.45 6.28 2 0 Dominion Energy South Atlantic East Coast Average National Average South Carolina Average 9 Source: EEI Typical Bills and Annual Rates Report, Winter 2019.

  10. Today’s Topics 1. Welcome to South Carolina 2. Five Core Values 3. Where We Are Today 4. Growth Plan 5. Commitment to Community 6. Summary

  11. Our Core Values Safety Our highest priority — in the Embrace Change workplace & in the community. Transformation and growth are the keys to long-term prosperity. A Ethics culture of receptivity to change Integrity, individual responsibility and ardor for innovation propels & accountability go hand-in-hand our company forward. with bottom-line results. We cannot and will not take shortcuts. One Dominion Energy Our term for teamwork – a Excellence unifying outlook transcending The odds of long-term success organizational boundaries and improve when we go beyond focusing on our shared mission “good” and strive for “great.” and purpose. 11

  12. Safety

  13. Safety OSHA recordable incident rate 1.87 100 Employees Each Work Year Number of Recordables per 1.40 1.25 1.24 1.08 0.95 0.92 0.83 0.74 0.74 0.66 0.60 0.55 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 13

  14. Safety OSHA recordable incident rate 1.87 100 Employees Each Work Year Number of Recordables per 1.40 Peer Average: 1.25 1.24 1.08 1.06 in 2018 0.95 0.92 0.83 0.74 0.74 0.66 0.60 0.55 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 14

  15. Safety OSHA recordable incident rate, 100 Employees Each Work Year Number of Recordables per With SCANA 0.65 0.65 0.46* YTD 2017 2018 2019 15 * Through April 30, 2019.

  16. Ethics

  17. Ethics Generation Emissions Reductions 0% Percent Reduction -20% -40% -60% -80% -98% -92% -97% SO₂ NOx Hg -100% 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 17

  18. Ethics Generation Emissions Reductions 0% Percent Reduction -20% -40% -60% Net Generation -80% -98% -92% -97% SO₂ NOx Hg -100% 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 18

  19. Ethics Carbon Emissions Reductions From Generating Fleet 57.6 57.3 57.2 60 55.5 CO 2 Emissions (Millions of Metric Tons) 51.3 50.8 50 41.8 36.7 36.1 40 33.8 33.2 33.1 30.1 27.7 30 20 10 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 19

  20. Ethics Carbon Emissions Reductions From Generating Fleet About twice the reduction 57.6 57.3 57.2 60 55.5 from U.S. power sector CO 2 Emissions (Millions of Metric Tons) 51.3 50.8 50 41.8 36.7 36.1 40 33.8 33.2 33.1 30.1 27.7 30 20 10 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 20

  21. Ethics Carbon Emissions Reductions From Generating Fleet About twice the reduction 57.6 57.3 57.2 60 55.5 from U.S. power sector CO 2 Emissions (Millions of Metric Tons) 51.3 50.8 50 41.8 36.7 36.1 40 33.8 33.2 33.1 30.1 27.7 30 20 10 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Net Generation 21

  22. Ethics • Carbon emissions reduction targets* ➢ Intensity: 60 percent – from 2000 to 2030 ➢ Total emissions: 55 percent – from 2005 to 2030 80 percent – from 2005 to 2050 60% 55% 80% * Does not include the Southeast Energy Group. Targets will be updated to include those businesses later this year. 22 Please refer to the “Important Note to Investors” on slide 2 of this presentation.

  23. Ethics Cumulative Methane Saved Natural Gas Businesses Projected Projected 2010 2011 2012 2013 2014 2015 2016 2017 2022 2030 - Methane, Billion Cubic Feet (5) (10) 50% (15) 2010-30 (20) 3.3 Million CARS (25) (30) Legacy Voluntary Programs New and Expanded Voluntary Programs (35) Voluntary efforts through variety of programs have yielded substantial methane reductions * Does not include the Southeast Energy Group. Targets will be updated to include those businesses later this year. 23 Sources: EPA filings & internal reporting. Please refer to the “Important Note to Investors” on slide 2 of this presentation.

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