PPL Corporation announces pricing of equity units offering

ALLENTOWN, Pa., Feb. 23, 2026 /PRNewswire/ -- PPL Corporation (NYSE: PPL) today announced it has priced its public offering of 20,000,000 Equity Units. Each Equity Unit will be issued in a stated amount of $50 ($1,000,000,000 aggregate stated amount) and will initially be in the form of a Corporate Unit consisting of a contract to purchase PPL Corporation common stock in the future, a 1/40 undivided beneficial ownership interest in PPL Capital Funding Inc.'s 4.02% Remarketable Senior Notes due 2034 having a principal amount of $1,000 and a 1/40 undivided beneficial ownership interest in PPL Capital Funding Inc.'s 4.02% Remarketable Senior Notes due 2039 having a principal amount of $1,000. Each of the Remarketable Senior Notes is subject to remarketing, subject to certain conditions and during certain periods. The offering is expected to close on February 26, 2026, subject to customary closing conditions.