Investor Fact Sheet

A Super-Regional Powerhouse

With 4.4 million customers, more than 43,000 megawatts of generating capacity in service and a growing competitive generation business, Southern Company is a major source of energy in the southeastern U.S.

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Our Major Businesses

Traditional Operating Companies
Our strong base includes transmission, distribution, approximately 35,000 megawatts of regulated generation and more than 8,000 megawatts of wholesale generation serving retail customers through purchase power agreements. Plans exist for added capacity through 2017 to meet demand and maintain reliability.

Southern Power
Our competitive generation business has approximately 8,000 megawatts of generating capacity in commercial operation dedicated to serving the competitive wholesale market.

"Because of our disciplined approach to risk, few companies anywhere have delivered more favorable risk-adjusted returns."
– Tom Fanning, Chairman, President & CEO

Strong Financial Performance

Total Shareholder Return

5-Year	9.9%
10-Year	11.4%
30-Year	16.3%

Annualized returns for periods ending December 31, 2011. Source: Bloomberg; assumes all dividends (including Mirant spinoff proceeds) are reinvested and returns are compounded monthly.

Dividend

• Currently $1.96 per share annually.
• 3.7% increase in April 2012, marking 11th consecutive year of dividend increases.
• 258 consecutive quarters, more than 64 years, of dividend payments.

Financial Integrity

Goal of achieving an attractive riskadjusted return, supported by a simple, transparent business model, sound financial policy and stable 'A' credit rating.

• Premier super-regional energy company focused on the Southeast.
• Experienced management knows how to create and deliver value.
• Outperformed the S&P 500 Index for total shareholder return in 5-year, 10-year and 30-year periods ended December 31, 2011.
• Attractive dividend yield.
• A large-cap, liquid, bellwether stock with a history of growth.
• Southern Power's conservative business model based on long-term contracts with solid, creditworthy counterparties.

Goals For Our Major Businesses

Strive to remain among the leaders in our industry, a reliable energy provider for our customers and a solid investment for our shareholders.

Subsidiaries and Affiliates
Alabama Power Georgia Power Gulf Power Mississippi Power		Southern Power Southern Nuclear SouthernLINC Wireless

What Distinguishes Southern Company?

Technology
Only electric utility in the U.S. committed to a full portfolio of new nuclear, 21st century coal gasification, natural gas generation, solar and biomass.

FORTUNE Magazine
One of "World's Most Admired" Electric and Gas Utilities and No. 1 in "Financial Soundness" three years in a row.

DiversityInc Magazine
Top 50 Company for Diversity 2011 (top-ranked utility)

Platts Global Energy Awards
Power Company of the Year 2011

Corporate Responsibility Magazine
2011 Top 100 Best Corporate Citizens

American Customer Satisfaction Index
Consistently listed among the top U.S. electric service providers in customer satisfaction.

NYSE ticker symbol - SO
Direct Stock Purchase/Southern Investment Plan: (800) 554-7626
Stockholder Services: (800) 554-7626