A sustainability bond is a bond the proceeds of which are allocated towards the financing or refinancing of eligible projects with environmental and social benefits. Through our subsidiaries Georgia Power, Mississippi Power and Alabama Power, the Southern Company system has issued four series of sustainability bonds totaling over $2.3 billion.

Southern Company System Sustainability Bonds: Issuance Information1

$ amounts in Millions
Issuer Date Issued2 Series3 Coupon Principal
Amount
Issued		 Maturity CUSIP Net
Proceeds		 % Allocated to
Green Spend		 % Allocated to
Social Spend
Georgia Power Feb-2021 2021A 3.25% $750 Mar-2051 373334KP5 $742.7 65% 35%
Mississippi Power Jun-2021 2021B 3.10% $325 Jul-2051 605417CD4 $318.7 75% 25%
Georgia Power May-2022 2022B 5.125% $800 May-2052 373334KR1 $787.2 23% 77%
Alabama Power4 Aug-2022 2022C 3.940% $450 Sep-2032 010392FZ6 $447.0 TBD TBD
Southern Company System (Total) $2,325 $2,296

1 As of 5/04/2023

2 Click a Date Issued to view the webpage associated with that issuance

3 Click a Series to view its Prospectus Supplement

4 The webpage for Alabama Power's 2022C is expected to be completed by August 2023


Per our Sustainable Financing Framework, an issuer has up to 12 months from the time of issuance to allocate net proceeds. As of 5/4/2023, the Southern Company system has completed the allocation of nearly $1.9 billion in sustainability bonds consisting of Georgia Power's Series 2021A and Series 2022B ($743 million and $787M, respectively) and Mississippi Power's Series 2021B ($319 million). We expect Alabama Power to complete its allocation for its Series 2023C issuance by August 12, 2023. As shown below, approximately $899 million and $949 million of net proceeds from sustainability bonds have been allocated to eligible green and social spend, respectively.

Southern Company Sustainability Bonds Impact Summary1

$899 Million

of Net Proceeds

allocated to Eligible Green Spend from
Sustainability Bonds

Carbon Free Electricity

433 Gigawatt Hours

of Carbon-Free Electricity Generated by
Sustainability Bond Projects

Tree

307,069 Metric Tons2

of CO2 Emissions Offset by
Sustainability Bond Projects

Home

40,736 Thousand Homes 3

Powered by
Sustainability Bond Projects

$949 Million

of Net Proceeds

allocated to Eligible Social Spend from
Sustainability Bonds

Minority and Women figures united

484 Minority- and Women-Owned Suppliers

Supported by Sustainability Bonds

Soldier

36 Veteran-Owned Suppliers

Supported by
Sustainability Bonds

Figures with increasing graph line

455 Small Business Suppliers

Supported by
Sustainability Bonds

1Environmental data as of 12/31/2022; excludes Mississippi Power's 2021B environmental data and Alabama Power's 2022C allocation data, both of which are expected to be reported in late 2023

2 Carbon offset factor = 0.709 based on 2019 methodology per EIA online calculator https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

3 Number of homes factor = 0.09406 based on EIA average 886 kWh per month electricity consumption for 2021 https://www.eia.gov/tools/faqs/faq.php?id=97&t=3


The net proceeds from these sustainability bonds have been allocated to eligible projects that provide significant environmental and social benefits, underscoring the Southern Company system’s commitment to not only providing clean, safe, reliable and affordable electricity to customers and communities, but also our company’s goal of achieving net zero carbon emissions by 2050 and being a citizen wherever we serve.

More information on sustainability bonds at Georgia Power can be found here. More information on sustainability bonds at Mississippi Power can be found here.

For more information on the Southern Company system’s green bond issuances, please click here.

To learn more about Southern Company’s decarbonization efforts, please click here to review our environmental reports.