NRG ENERGY, INC. files 8-K: Regulation FD disclosure

On November 9, 2026, NRG Energy, Inc. (“NRG”)

issued a press release announcing its entry into a purchase and sale agreement, dated as of November 9, 2026, under which NRG has agreed to sell six natural-gas fired generation assets to an affiliate of LS Power for a purchase price of $4 billion in cash, subject

Report on Form 8-K and is incorporated by reference herein.

NRG will discuss the Transaction on its previously scheduled conference call at 8:00 a.m. Eastern Time (7:00 a.m. Central Time) on November 9, 2026. Investors, the news media, and others may access the live webcast of the conference call and accompanying presentation materials by logging on to NRG’s website at www.nrg.com and clicking on “Presentations & Webcasts” in the “Investors” section found at the top of the home page.

The webcast will be archived on the website for those unable to listen in real-time.

this Current Report on Form 8-K is being furnished under Item 7.01 of Form 8-K. Such information shall not be deemed “filed”

for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

The information required by Item 1.01 of Form 8-K, including a copy of the definitive agreement relating to the Transaction, will be filed in a separate Current Report on Form 8-K.

NRG Energy Announces $4 Billion Asset Sale

Transaction monetizes select assets at an attractive valuation, supporting additional share repurchases, debt reduction, and flexibility to redeploy capital at higher returns.

Energy, Inc. (NYSE: NRG) today announced that it has entered into a definitive agreement to sell six natural gas generation assets to

LS Power, for a purchase price of $4 billion in cash, subject to working capital and other closing adjustments. The purchase price represents an implied 2027 valuation multiple of 8.0x EV/Adj. EBITDA.

"We are unlocking substantial value from a select group of assets, while maintaining a robust generation footprint in PJM and ERCOT that provides reliable, affordable power for our customers," said Robert Gaudette, President and Chief Executive Officer of NRG. "This transaction will strengthen our balance sheet, support increased share repurchases and preserve flexibility to invest in growth opportunities with compelling returns. It demonstrates our commitment to disciplined capital allocation and creates long-term value for shareholders." The sale is targeted to close in the second quarter of 2027, subject to customary closing conditions and regulatory approvals, including Hart-Scott-Rodino (HSR), Federal Energy Regulatory

Commission (FERC), and the New York State Public Service Commission (NYSPSC).

The six assets represent 4.9 GW of generation across NYISO (Ravenswood), ISO-NE (Ocean State Power and Wallingford), and ERCOT (Jack County, Johnson County, and R.W. Miller).

NRG remains dedicated to ensuring affordable, reliable power as demand continues to grow. Upon completion, NRG will own and operate 20 GW of generation capacity nationwide. This includes

10 GW of generation in ERCOT, complemented by 10 GW in PJM. By 2028, an additional 1.1 GW is expected to be operational in ERCOT through the Company’s remaining two Texas Energy Fund projects.

Proceeds from the transaction will be used to support NRG's 2027 pro forma capital allocation plan of $3 billion of share repurchases across 2026 and 2027, including an incremental

$1 billion expected to begin before the end of the fourth quarter of 2026. Upon closing of the asset sale, NRG plans an additional $2 billion of debt reduction to maintain the Company’s current leverage profile, bringing total planned 2027 debt reduction to $3 billion. The remaining proceeds will be reserved to fund either contracted growth investments or additional debt reduction.

Barclays is serving as lead financial advisor on the transaction and White & Case LLP is serving as legal counsel to NRG.

Conference Call and Webcast

NRG will discuss the transaction during its previously announced earnings conference call on November 9 at 8:00 AM EST / 7:00 AM CST.

Investors, members of the media and the public may access the webcast and presentation materials through NRG's Investor Relations website at www.nrg.com.