ED · Consolidated Edison, Inc.

Consolidated Edison, Inc. entered into an Equity Distribution Agreement on May 8, 2026, establishing an at-the-market equity distribution program. The agreement allows Con Edison to offer and sell up to $2 billion of its common shares through a syndicate of sales agents, including major financial institutions such as Barclays, BofA Securities, J.P. Morgan, and Wells Fargo. In addition, the company may enter into forward sale agreements with forward purchasers, enabling the sale of borrowed shares through forward sellers. Proceeds from forward sales are received only upon physical settlement; cash or net share settlement may result in no proceeds or even a payment obligation. Commissions for agents and forward sellers are capped at 1.0% of the gross sales price. This program provides Con Edison with flexible access to capital markets over time, allowing it to raise funds as needed through negotiated or market-price transactions. The filing includes the full agreement as Exhibit 1, a legal opinion as Exhibit 5, and a form of forward confirmation as Exhibit 10.