Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

(a)The following documents are filed as a part of this report:

(1) Exelon

(i)						Financial Statements (Item 8):
						Report of Independent Registered Public Accounting Firm dated February 13, 2024 of PricewaterhouseCoopers LLP (PCAOB ID 238)
						Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Statements of Cash Flows for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Balance Sheets at December 31, 2024 and 2023
						Consolidated Statements of Changes in Equity for the Years Ended December 31, 2024, 2023, and 2022
						Notes to Consolidated Financial Statements
(ii)						Financial Statement Schedules:
						Schedule I—Condensed Financial Information of Parent (Exelon Corporate) at December 31, 2024 and 2023 and for the Years Ended December 31, 2024, 2023, and 2022
						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2024, 2023, and 2022
						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto.

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Condensed Statements of Operations and Other Comprehensive Income

			For the Years Ended December 31,
(In millions)			2024						2023						2022
Operating expenses
Operating and maintenance			$	7					$	88					$	25
Operating and maintenance from affiliates			8						7						4
Other			1						1						2
Total operating expenses			16						96						31
Operating loss			(16)						(96)						(31)
Other income and (deductions)
Interest expense, net			(593)						(544)						(413)
Equity in earnings of investments			2,887						2,728						2,450
Interest income from affiliates, net			15						9						5
Other, net			22						19						22
Total other income and (deductions)			2,331						2,212						2,064
Income from continuing operations before income taxes			2,315						2,116						2,033
Income taxes			(145)						(212)						(21)
Net income from continuing operations after income taxes			2,460						2,328						2,054
Net income from discontinued operations after income taxes			—						—						116
Net income			$	2,460					$	2,328					$	2,170
Other comprehensive income (loss), net of income taxes
Pension and non-pension postretirement benefit plans:
Prior service benefits reclassified to periodic benefit cost			—						—						(1)
Actuarial losses reclassified to periodic benefit cost			28						26						42
Pension and non-pension postretirement benefit plans valuation adjustments			(70)						(109)						46
Unrealized gain (loss) on cash flow hedges			48						(5)						2
Other comprehensive income (loss)			6						(88)						89
Comprehensive income			$	2,466					$	2,240					$	2,259

See the Notes to Financial Statements

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Condensed Statements of Cash Flows

			For the Years Ended December 31,
(In millions)			2024						2023						2022
Net cash flows provided by operating activities			$	2,022					$	1,486					$	1,690
Cash flows from investing activities
Changes in Exelon intercompany money pool			8						(43)						35
Notes receivable from affiliates			—						—						274
Investment in affiliates			(1,568)						(1,864)						(4,011)
Other investing activities			(2)						(1)						—
Net cash flows used in investing activities			(1,562)						(1,908)						(3,702)
Cash flows from financing activities
Changes in short-term borrowings			(99)						78						448
Proceeds from short-term borrowings with maturities greater than 90 days			150						—						1,150
Repayments on short-term borrowings with maturities greater than 90 days			(150)						—						(1,300)
Issuance of long-term debt			1,700						2,500						3,350
Retirement of long-term debt			(715)						(850)						(1,150)
Issuance of common stock			148						140						563
Dividends paid on common stock			(1,523)						(1,433)						(1,334)
Proceeds from employee stock plans			43						41						36
Other financing activities			(36)						(39)						(35)
Net cash flows (used in) provided by financing activities			(482)						437						1,728
(Decrease) increase in cash, restricted cash, and cash equivalents			(22)						15						(284)
Cash, restricted cash, and cash equivalents at beginning of period			26						11						295
Cash, restricted cash, and cash equivalents at end of period			$	4					$	26					$	11

See the Notes to Financial Statements

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Condensed Balance Sheets

			December 31,
(In millions)			2024						2023
ASSETS
Current assets
Cash and cash equivalents			$	4					$	26
Accounts receivable, net
Other accounts receivable			288						561
Accounts receivable from affiliates			19						14
Notes receivable from affiliates			217						225
Regulatory assets			186						188
Other			19						17
Total current assets			733						1,031
Property, plant, and equipment, net			45						44
Deferred debits and other assets
Regulatory assets			2,851						2,877
Investments in affiliates from continuing operations			40,741						38,545
Deferred income taxes			747						884
Non-pension postretirement benefit asset			186						144
Other			149						107
Total deferred debits and other assets			44,674						42,557
Total assets			$	45,452					$	43,632

See the Notes to Financial Statements

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Condensed Balance Sheets

			December 31,
(In millions)			2024						2023
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term borrowings			$	927					$	1,026
Long-term debt due within one year			807						500
Accounts payable			142						194
Accrued expenses			155						144
Payables to affiliates			360						361
Regulatory liabilities			11						10
Pension obligations			40						45
Other			3						49
Total current liabilities			2,445						2,329
Long-term debt			11,334						10,713
Deferred credits and other liabilities
Regulatory liabilities			94						92
Pension obligations			4,346						4,268
Deferred income taxes			50						56
Other			262						419
Total deferred credits and other liabilities			4,752						4,835
Total liabilities			18,531						17,877
Commitments and contingencies
Shareholders’ equity
Common stock (No par value, 2,000 shares authorized, 1005 shares and 999 shares outstanding as of December 31, 2024 and 2023, respectively)			21,338						21,114
Treasury stock, at cost (2 shares as of December 31, 2024 and 2023)			(123)						(123)
Retained earnings			6,426						5,490
Accumulated other comprehensive loss, net			(720)						(726)
Total shareholders’ equity			26,921						25,755
Total liabilities and shareholders’ equity			$	45,452					$	43,632

See the Notes to Financial Statements

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Notes to Financial Statements

1. Basis of Presentation

Exelon Corporate is a holding company that conducts substantially all of its business operations through its subsidiaries. These condensed financial statements and related footnotes have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X. These statements should be read in conjunction with the consolidated financial statements, and notes thereto, of Exelon Corporation.

As of December 31, 2024 and 2023, Exelon Corporate owned 100% of all of its significant subsidiaries, either directly or indirectly, except for Commonwealth Edison Company (ComEd), of which Exelon Corporate owns more than 99%. As of February 1, 2022, as a result of the completion of the separation, Exelon Corporate no longer retains any equity ownership interest in Generation or Constellation. The separation of Constellation, including Generation and its subsidiaries, met the criteria for discontinued operations and as such, results of operations are presented as discontinued operations and have been excluded from continuing operations for all periods presented. Accounting rules require certain BSC costs previously allocated to Generation to be presented as part of Exelon’s continuing operations as these costs do not qualify as expenses of the discontinued operations. Comprehensive income and cash flows related to Generation have not been segregated and are included in the Condensed Statements of Operations and Comprehensive Income and Condensed Statements of Cash Flows, respectively, for all periods presented. See Note 2 — Discontinued Operations of the Combined Notes to Consolidated Financial Statements for additional information.

2. Regulatory Matters and Retirement Benefits

See Note 3—Regulatory Matters and Note 14—Retirement Benefits of the Combined Notes to Consolidated Financial Statements for Exelon Corporate’s regulatory assets and retirement benefits.

3. Derivative Financial Instruments

See Note 15—Derivative Financial Instruments of the Combined Notes to Consolidated Financial Statements for Exelon Corporate’s derivatives.

4. Debt and Credit Agreements

Short-Term Borrowings

Exelon Corporate meets its short-term liquidity requirements primarily through the issuance of commercial paper. Exelon Corporate had $426 million in outstanding commercial paper borrowings as of December 31, 2024 and $527 million outstanding commercial paper as of December 31, 2023.

Revolving Credit Agreements

As of December 31, 2024, Exelon Corporate had a $900 million aggregate bank commitment under its existing syndicated revolving facility in which $471 million was available to support additional commercial paper as of December 31, 2024. Exelon Corporate had $3 million outstanding letters of credit as of December 31, 2024. See Note 16 — Debt and Credit Agreements of the Combined Notes to Consolidated Financial Statements for additional information regarding Exelon Corporate’s credit agreement.

On August 29, 2024, Exelon Corporate entered into a new revolving credit facility with an aggregate bank commitment of $900 million at a variable interest rate of SOFR plus 1.275% which replaced its existing $900 million syndicated revolving credit facility, and extended the maturity date to August 29, 2029.

Exelon Corporate had no outstanding amounts on the revolving credit facilities as of December 31, 2024.

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Notes to Financial Statements

Short-Term Loan Agreements

On March 23, 2017, Exelon Corporate entered into a term loan agreement for $500 million. The loan agreement was renewed in the first quarter of 2024 and was bifurcated into two tranches of $350 million and $150 million on March 14, 2024. The agreements will expire on March 14, 2025. Pursuant to the loan agreements, loans made thereunder bear interest at a variable rate equal to SOFR plus 1.05% and all indebtedness thereunder is unsecured. The loan agreement is reflected in Exelon Corporate's Condensed Balance Sheets within Short-term borrowings.

Debt Extinguishment

During the twelve months ended December 31, 2024, Exelon Corporate repurchased a portion of its Senior unsecured notes with a principal balance of $244 million outstanding in exchange for cash of $215 million. The repurchase was accounted for as a debt extinguishment and resulted in a pre-tax gain of $28 million, which is reflected on Exelon Corporate's Condensed Statement of Operations and Comprehensive income within Interest expense, net.

Long-Term Debt

The following tables present the outstanding long-term debt for Exelon Corporate at December 31, 2024 and December 31, 2023:

															Maturity Date						December 31,
			Rates												2024						2023
Long-term debt
Senior unsecured notes			2.75		%	-			7.60		%				2025 - 2053						$	12,095					$	10,639
Loan agreement(b)									6.23		%				2024						—						500
Total long-term debt																					12,095						11,139
Unamortized debt discount and premium, net																					(24)						(13)
Unamortized debt issuance costs																					(71)						(65)
Fair value adjustment																					141						152
Long-term debt due within one year(a)																					(807)						(500)
Long-term debt																					$	11,334					$	10,713

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(a)Pursuant to the loan agreement, loans made thereunder bear interest at a variable rate equal to SOFR plus 0.85%.

The long-term debt maturities for Exelon Corporate for the periods 2025 through 2029 and thereafter are as follows:

2025			$	807
2026			750
2027			650
2028			1,000
2029			650
Thereafter			8,238
Total long-term debt			$	12,095

5. Commitments and Contingencies

See Note 18—Commitments and Contingencies of the Combined Notes to Consolidated Financial Statements for Exelon Corporate’s commitments and contingencies.

6. Related Party Transactions

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Notes to Financial Statements

The financial statements of Exelon Corporate include related party transactions as presented in the tables below:

			For the Years Ended December 31,
(In millions)			2024						2023						2022
Operating and maintenance from affiliates:
BSC(a)			$	8					$	7					$	4
Total operating and maintenance from affiliates:			$	8					$	7					$	4
Interest income (expense) from affiliates, net:
BSC			$	11					$	6					$	4
EEDC(b)			4						3						1
Total interest income from affiliates, net:			$	15					$	9					$	5
Equity in earnings (losses) of investments:
BSC			$	—					$	—					$	(18)
EEDC(b)			2,886						2,727						2,482
PCI			3						2						(9)
Connectiv, LLC			(2)						—						—
Exelon Enterprises			—						1						—
Exelon InQB8R			—						(2)						(4)
Other			—						—						(1)
Total equity in earnings of investments:			$	2,887					$	2,728					$	2,450
Cash contributions received from affiliates			$	2,250					$	1,978					$	2,027

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Notes to Financial Statements

			At December 31,
(in millions)			2024						2023
Accounts receivable from affiliates (current):
BSC			$	2					$	—
ComEd			5						4
PECO			3						2
BGE			2						1
PHISCO			7						7
Total accounts receivable from affiliates (current):			$	19					$	14
Notes receivable from affiliates (current):
BSC(a)			$	154					$	160
PHI			63						65
Total notes receivable from affiliates (current):			$	217					$	225
Investments in affiliates from continuing operations:
BSC(a)			$	384					$	384
EEDC(b)			39,905						37,705
PCI			57						54
UII			365						365
Voluntary Employee Beneficiary Association trust			—						9
Exelon Enterprises			4						4
Conectiv			14						12
Exelon InQB8R			13						13
Other(c)			(1)						(1)
Total investments in affiliates from continuing operations:			$	40,741					$	38,545
Accounts payable to affiliates (current):
UII			$	360					$	360
BSC(a)			—						1
Total accounts payable to affiliates (current):			$	360					$	361

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(a)Exelon Corporate receives a variety of corporate support services from BSC, including legal, human resources, financial, information technology, and supply management services. All services are provided at cost, including applicable overhead.

(b)EEDC consists of ComEd, PECO, BGE, PHI, Pepco, DPL, and ACE.

(c)Primarily relates to elimination of affiliate transactions with Generation, primarily related to the Regulatory Agreement Units. See Note 3 — Regulatory Matters and Note 23 — Related Party Transactions of the Combined Notes to Consolidated Financial Statements for additional information.

Exelon Corporation and Subsidiary Companies

Schedule II – Valuation and Qualifying Accounts

Column A						Column B						Column C												Column D						Column E
												Additions and adjustments
Description						Balance at Beginning of Period						Charged to Costs and Expenses						Charged to Other Accounts						Deductions						Balance at End of Period
(In millions)
For the year ended December 31, 2024
Allowance for credit losses(a)						$	399					$	271		(b)			$	22					$	179		(c)			$	513
Deferred tax valuation allowance						114						—						6						—						120
For the year ended December 31, 2023
Allowance for credit losses(a)						$	409					$	171		(b)			$	20					$	201		(c)			$	399
Deferred tax valuation allowance						94						—						20						—						114
For the year ended December 31, 2022
Allowance for credit losses(a)						$	392					$	174		(b)			$	28					$	185		(c)			$	409
Deferred tax valuation allowance						37						—						57			(d)			—						94

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(a)Excludes the noncurrent Allowance for credit losses related to PECO’s installment plan receivables of $13 million, $6 million, and $7 million for the years ended December 31, 2024, 2023, and 2022, respectively.

(b)The amount charged to costs and expenses includes the amount reclassified to Regulatory assets/liabilities under different mechanisms applicable to the different jurisdictions in which the Utility Registrants operate.

(c)Primarily reflects write-offs, net of recoveries, of individual accounts receivable.

(d)DPL recorded a full valuation allowance against Delaware net operating losses carryforwards due to a change in Delaware tax law. See Note 13 — Income Taxes of the Combined Notes to Consolidated Financial Statements for additional information on the valuation allowance.

Commonwealth Edison Company and Subsidiary Companies

(2) ComEd

(i)						Financial Statements (Item 8):
						Report of Independent Registered Public Accounting Firm dated February 12, 2025 of PricewaterhouseCoopers LLP (PCAOB ID 238)
						Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Statements of Cash Flows for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Balance Sheets at December 31, 2024 and 2023
						Consolidated Statements of Changes in Shareholders’ Equity for the Years Ended December 31, 2024, 2023, and 2022
						Notes to Consolidated Financial Statements
(ii)						Financial Statement Schedule:
						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2024, 2023, and 2022
						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Commonwealth Edison Company and Subsidiary Companies

Schedule II – Valuation and Qualifying Accounts

Column A						Column B						Column C												Column D						Column E
												Additions and adjustments
Description						Balance at Beginning of Period						Charged to Costs and Expenses						Charged to Other Accounts						Deductions						Balance at End of Period
(In millions)
For the year ended December 31, 2024
Allowance for credit losses						$	86					$	71		(a)			$	28					$	42		(b)			$	143
For the year ended December 31, 2023
Allowance for credit losses						$	76					$	45		(a)			$	13					$	48		(b)			$	86
For the year ended December 31, 2022
Allowance for credit losses						$	90					$	24		(a)			$	8					$	46		(b)			$	76

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(a)ComEd is allowed to recover from or refund to customers the difference between its annual credit loss expense and the amounts collected in rates annually through a rider mechanism. The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under such mechanism. See Note 3 – Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.

(b)Write-offs, net of recoveries of individual accounts receivable.

PECO Energy Company and Subsidiary Companies

(3) PECO

(i)						Financial Statements (Item 8):
						Report of Independent Registered Public Accounting Firm dated February 12, 2025 of PricewaterhouseCoopers LLP (PCAOB ID 238)
						Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Statements of Cash Flows for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Balance Sheets at December 31, 2024 and 2023
						Consolidated Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2024, 2023, and 2022
						Notes to Consolidated Financial Statements
(ii)						Financial Statement Schedule:
						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2024, 2023, and 2022
						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

PECO Energy Company and Subsidiary Companies

Schedule II – Valuation and Qualifying Accounts

Column A						Column B						Column C												Column D						Column E
												Additions and adjustments
Description						Balance at Beginning of Period						Charged to Costs and Expenses						Charged to Other Accounts						Deductions						Balance at End of Period
(In millions)
For the year ended December 31, 2024
Allowance for credit losses(a)						$	103					$	88					$	(1)					$	39		(c)			$	151
Deferred tax valuation allowance						7						—						(1)						—						6
For the year ended December 31, 2023
Allowance for credit losses(a)						$	114					$	43		(b)			$	9					$	63		(c)			$	103
Deferred tax valuation allowance						7						—						—						—						7
For the year ended December 31, 2022
Allowance for credit losses(a)						$	112					$	44		(b)			$	14					$	56		(c)			$	114
Deferred tax valuation allowance						3						—						4						—						7

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(a)Excludes the noncurrent Allowance for credit losses related to PECO’s installment plan receivables of $13 million, $6 million, and $7 million for the years ended December 31, 2024, 2023, and 2022, respectively.

(b)The amount charged to costs and expenses includes the amount that was reclassified to the COVID-19 regulatory asset. See Note 3 – Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.

(c)Write-offs, net of recoveries of individual accounts receivable.

Baltimore Gas and Electric Company

(4) BGE

(i)						Financial Statements (Item 8):
						Report of Independent Registered Public Accounting Firm dated February 12, 2025 of PricewaterhouseCoopers LLP (PCAOB ID 238)
						Statements of Operations and Comprehensive Income for the Years Ended December 31, 2024, 2023 and 2022
						Statements of Cash Flows for the Years Ended December 31, 2024, 2023 and 2022
						Balance Sheets at December 31, 2024 and 2023
						Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2024, 2023 and 2022
						Notes to Financial Statements
(ii)						Financial Statement Schedule:
						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2024, 2023, and 2022
						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Baltimore Gas and Electric Company

Schedule II – Valuation and Qualifying Accounts

Column A						Column B						Column C												Column D						Column E
												Additions and adjustments
Description						Balance at Beginning of Period						Charged to Costs and Expenses						Charged to Other Accounts						Deductions						Balance at End of Period
(In millions)
For the year ended December 31, 2024
Allowance for credit losses						$	53					$	39		(a)			$	4					$	34		(b)			$	62
Deferred tax valuation allowance						3						—						—						—						3
For the year ended December 31, 2023
Allowance for credit losses						$	64					$	26		(a)			$	5					$	42		(b)			$	53
Deferred tax valuation allowance						3						—						—						—						3
For the year ended December 31, 2022
Allowance for credit losses						$	47					$	37		(a)			$	6					$	26		(b)			$	64
Deferred tax valuation allowance						—						—						3						—						3

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(a)The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under different mechanisms as approved by the MDPSC.

(b)Write-offs, net of recoveries of individual accounts receivable.

Pepco Holdings LLC and Subsidiary Companies

(5) PHI

(i)						Financial Statements (Item 8):
						Report of Independent Registered Public Accounting Firm dated February 12, 2025 of PricewaterhouseCoopers LLP (PCAOB ID 238)
						Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Statements of Cash Flows for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Balance Sheets at December 31, 2024 and 2023
						Consolidated Statements of Changes in Equity for the Years Ended December 31, 2024, 2023, and 2022
						Notes to Consolidated Financial Statements
(ii)						Financial Statement Schedule:
						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2024, 2023, and 2022
						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Pepco Holdings LLC and Subsidiary Companies

Schedule II – Valuation and Qualifying Accounts

Column A						Column B						Column C												Column D						Column E
												Additions and adjustments
Description						Balance at Beginning of Period						Charged to Costs and Expenses						Charged to Other Accounts						Deductions						Balance at End of Period
(In millions)
For the year ended December 31, 2024
Allowance for credit losses						$	157					$	73		(a)			$	(9)					$	64		(b)			$	157
Deferred tax valuation allowance						35						—						(3)						—						32
For the year ended December 31, 2023
Allowance for credit losses						$	155					$	57		(a)			$	(7)					$	48		(b)			$	157
Deferred tax valuation allowance						35						—						—						—						35
For the year ended December 31, 2022
Allowance for credit losses						$	143					$	69		(a)			$	—					$	57		(b)			$	155
Deferred tax valuation allowance						31						—						4			(c)			—						35

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(a)The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under different mechanisms applicable to the different jurisdictions Pepco, DPL, and ACE operate in.

(b)Write-offs, net of recoveries of individual accounts receivable.

(c)DPL recorded a full valuation allowance against Delaware net operating losses carryforwards due to a change in Delaware tax law. See Note 13 — Income Taxes of the Combined Notes to Consolidated Financial Statements for additional information on the valuation allowance.

Potomac Electric Power Company

(6) Pepco

(i)						Financial Statements (Item 8):
						Report of Independent Registered Public Accounting Firm dated February 12, 2025 of PricewaterhouseCoopers LLP (PCAOB ID 238)
						Statements of Operations and Comprehensive Income for the Years Ended December 31, 2024, 2023 and 2022
						Statements of Cash Flows for the Years Ended December 31, 2024, 2023 and 2022
						Balance Sheets at December 31, 2024 and 2023
						Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2024, 2023 and 2022
						Notes to Financial Statements
(ii)						Financial Statement Schedule:
						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2024, 2023, and 2022
						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Potomac Electric Power Company

Schedule II – Valuation and Qualifying Accounts

Column A						Column B						Column C												Column D						Column E
												Additions and adjustments
Description						Balance at Beginning of Period						Charged to Costs and Expenses						Charged to Other Accounts						Deductions						Balance at End of Period
(In millions)
For the year ended December 31, 2024
Allowance for credit losses						$	80					$	48		(a)			$	(10)					$	32		(b)			$	86
For the year ended December 31, 2023
Allowance for credit losses						$	72					$	31		(a)			$	(5)					$	18		(b)			$	80
For the year ended December 31, 2022
Allowance for credit losses						$	53					$	36		(a)			$	4					$	21		(b)			$	72

---

(a)The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under different mechanisms as approved by the DCPSC and MDPSC.

(b)Write-offs, net of recoveries of individual accounts receivable.

Delmarva Power & Light Company

(7) DPL

(i)						Financial Statements (Item 8):
						Report of Independent Registered Public Accounting Firm dated February 12, 2025 of PricewaterhouseCoopers LLP (PCAOB ID 238)
						Statements of Operations and Comprehensive Income for the Years Ended December 31, 2024, 2023 and 2022
						Statements of Cash Flows for the Years Ended December 31, 2024, 2023 and 2022
						Balance Sheets at December 31, 2024 and 2023
						Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2024, 2023 and 2022
						Notes to Financial Statements
(ii)						Financial Statement Schedule:
						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2024, 2023, and 2022
						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Delmarva Power & Light Company

Schedule II – Valuation and Qualifying Accounts

Column A						Column B						Column C												Column D						Column E
												Additions and adjustments
Description						Balance at Beginning of Period						Charged to Costs and Expenses						Charged to Other Accounts						Deductions						Balance at End of Period
(In millions)
For the year ended December 31, 2024
Allowance for credit losses						$	27					$	11		(a)			$	—					$	12		(b)			$	26
Deferred tax valuation allowance						32						—						(3)						—						29
For the year ended December 31, 2023
Allowance for credit losses						$	28					$	10		(a)			$	—					$	11		(b)			$	27
Deferred tax valuation allowance						32						—						—						—						32
For the year ended December 31, 2022
Allowance for credit losses						$	26					$	13		(a)			$	(2)					$	9		(b)			$	28
Deferred tax valuation allowance						31						—						1						—						32

---

(a)The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under different mechanisms as approved by the DEPSC and MDPSC.

(b)Write-offs, net of recoveries of individual accounts receivable.

Atlantic City Electric Company and Subsidiary Company

(8) ACE

(i)						Financial Statements (Item 8):
						Report of Independent Registered Public Accounting Firm dated February 12, 2025 of PricewaterhouseCoopers LLP (PCAOB ID 238)
						Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Statements of Cash Flows for the Years Ended December 31, 2024, 2023, and 2022
						Consolidated Balance Sheets at December 31, 2024 and 2023
						Consolidated Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2024, 2023, and 2022
						Notes to Consolidated Financial Statements
(ii)						Financial Statement Schedule:
						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2024, 2023, and 2022
						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Atlantic City Electric Company and Subsidiary Company

Schedule II – Valuation and Qualifying Accounts

Column A						Column B						Column C												Column D						Column E
												Additions and adjustments
Description						Balance at Beginning of Period						Charged to Costs and Expenses						Charged to Other Accounts						Deductions						Balance at End of Period
(In millions)
For the year ended December 31, 2024
Allowance for credit losses						$	50					$	14		(a)			$	1					$	20		(b)			$	45
For the year ended December 31, 2023
Allowance for credit losses						$	55					$	16		(a)			(2)						$	19		(b)			$	50
For the year ended December 31, 2022
Allowance for credit losses						$	64					$	20		(a)			$	(2)					$	27		(b)			$	55

---

(a)ACE is allowed to recover from or refund to customers the difference between its annual credit loss expense and the amounts collected in rates annually through the Societal Benefits Charge. The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under such mechanism. See Note 3 – Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.

(b)Write-offs, net of recoveries of individual accounts receivable.

Exhibits required by Item 601 of Regulation S-K:

Certain of the following exhibits are incorporated herein by reference under Rule 12b-32 of the Securities and Exchange Act of 1934, as amended. Certain other instruments which would otherwise be required to be listed below have not been so listed because such instruments do not authorize securities in an amount which exceeds 10% of the total assets of the applicable registrant and its subsidiaries on a consolidated basis and the relevant registrant agrees to furnish a copy of any such instrument to the Commission upon request.

(2) Plans of acquisition, reorganization, arrangement, liquidation, or succession

Exhibit No.			Description									Location
2-1			Separation Agreement, dated January 31, 2022, between Exelon Corporation and Constellation Energy Corporation									File No. 001-16169, Form 8K dated February 2, 2022, Exhibit 2.1

(3) Articles of Incorporation and Bylaws

Exelon Corporation

Exhibit No.			Description									Location
3-1			Amended and Restated Articles of Incorporation of Exelon Corporation, as amended April 30, 2024									File No. 001-16169, Form 10-Q dated August 1, 2024, Exhibit 3.1
3-2			Amended and Restated Bylaws of Exelon Corporation, as amended on April 30, 2024									File No. 001-16169, Form 10-Q dated August 1, 2024, Exhibit 3.2

Baltimore Gas and Electric Company

Exhibit No.			Description									Location
3-3			Articles of Restatement to the Charter of Baltimore Gas and Electric Company, restated as of August 16, 1996									File No. 001-01910, Form 10-Q dated November 14, 1996, Exhibit 3
3-4			Articles of Amendment to the Charter of Baltimore Gas and Electric Company as of February 2, 2010									File No. 001-01910, Form 8-K dated February 4, 2010, Exhibit 3.1
3-5			Amended and Restated Bylaws of Baltimore Gas and Electric Company dated August 3, 2020									File No. 001-01910, Form 10-Q dated August 4, 2020, Exhibit 3.4

Commonwealth Edison Company

Exhibit No.			Description									Location
3-6			Restated Articles of Incorporation of Commonwealth Edison Company Effective February 20, 1985, including Statements of Resolution Establishing Series, relating to the establishment of three new series of Commonwealth Edison Company preference stock known as the “$9.00 Cumulative Preference Stock,” the “$6.875 Cumulative Preference Stock” and the “$2.425 Cumulative Preference Stock”									File No. 001-01839, Form 10-K dated March 30, 1995, Exhibit 3.2
3-7			Amended and Restated Bylaws of Commonwealth Edison Company, Effective February 22, 2021									File No. 001-01839, Form 10-K dated February 24, 2021, Exhibit 3.6

PECO Energy Company

Exhibit No.			Description									Location
3-8			Amended and Restated Articles of Incorporation of PECO Energy Company									File No. 001-01401, Form 10-K dated April 2, 2001, Exhibit 3.3
3-9			Amended and Restated Bylaws of PECO Energy Company dated August 3, 2020									File No. 000-16844, Form 10-Q dated August 4, 2020, Exhibit 3.3

Pepco Holdings LLC

Exhibit No.			Description									Location
3-10			Certificate of Formation of Pepco Holdings LLC, dated March 23, 2016									File No. 001-31403, Form 8-K dated March 24, 2016, Exhibit 3.2
3-11			Amended and Restated Limited Liability Company Agreement of Pepco Holdings LLC, dated August 3, 2020									File No. 001-31403, Form 10-Q dated August 4, 2020, Exhibit 3.5

Atlantic City Electric Company

Exhibit No.			Description									Location
3-12			Restated Certificate of Incorporation of Atlantic City Electric Company (filed in New Jersey on August 9, 2002)									File No. 001-03559, Amendment No. 1 to Form U5B dated February 13, 2003, Exhibit B.8.1
3-13			Bylaws of Atlantic City Electric Company									File No. 001-03559, Form 10-Q dated May 9, 2005, Exhibit 3.2.2

Delmarva Power & Light Company

Exhibit No.			Description									Location
3-14			Restated Certificate and Articles of Incorporation of Delmarva Power & Light Company (as filed in Delaware and Virginia)									File No. 001-01405, Form 10-K dated March 1, 2007, Exhibit 3.3
3-15			Bylaws of Delmarva Power & Light Company									File No. 001-01405, Form 10-Q dated May 9, 2005, Exhibit 3.2.1

Potomac Electric Power Company

Exhibit No.			Description									Location
3-16			Restated Articles of Incorporation of Potomac Electric Power Company (as filed in the District of Columbia)									File No. 001-31403, Form 10-Q dated May 5, 2006, Exhibit 3.1
3-17			Restated Articles of Incorporation and Articles of Restatement of Potomac Electric Power Company (as filed in Virginia)									File No. 001-01072, Form 10-Q dated November 4, 2011, Exhibit 3.3
3-18			Bylaws of Potomac Electric Power Company									File No. 001-01072, Form 10-Q dated May 5, 2006, Exhibit 3.2

(4) Instruments Defining the Rights of Securities Holders, Including Indentures

Exelon Corporation

Exhibit No.			Description									Location
4-1			Exelon Corporation Direct Stock Purchase Plan									File No. 333-222989, Prospectus 424(b)(2) dated June 30, 2023
4-2			Indenture dated May 1, 2001 between Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee									File No. 001-16169, Form 10-Q dated July 26, 2005, Exhibit 4.10
4-3			Form of $500,000,000 5.625% senior notes due 2035 dated June 9, 2005 issued by Exelon Corporation									File No. 001-16169, Form 8-K dated June 9, 2005, Exhibit 99.3
4-4			Indenture, dated as of June 17, 2014, between Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as Trustee									File No. 001-16169, Form 8-K dated June 23, 2014, Exhibit 4.1
4-4-1			First Supplemental Indenture, dated as of June 17, 2014, between Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as Trustee									File No. 001-16169, Form 8-K dated June 23, 2014, Exhibit 4.2
4-4-2			Second Supplemental Indenture, dated April 3, 2017, between Exelon and The Bank of New York Mellon Trust Company, N.A., as trustee, to that certain Indenture (For Unsecured Subordinated Debt Securities), dated June 17, 2014									File No. 001-16169, Form 8-K dated April 4, 2017, Exhibit 4.3
4-5			Indenture, dated as of June 11, 2015, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee									File No. 001-16169, Form 8-K dated June 11, 2015, Exhibit 4.1
4-5-1			First Supplemental Indenture, dated as of June 11, 2015, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee									File No. 001-16169, Form 8-K dated June 11, 2015, Exhibit 4.2

Exhibit No.			Description									Location
4-5-2			Second Supplemental Indenture, dated as of December 2, 2015, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee									File No. 001-16169, Form 8-K dated December 2, 2015, Exhibit 4.1
4-5-3			Third Supplemental Indenture, dated as of April 7, 2016, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee									File No. 001-16169, Form 8-K dated April 7, 2016, Exhibit 4.2
4-5-4			Fourth Supplemental Indenture, dated as of April 1, 2020, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee									File No. 001-16169, Form 8-K dated April 1, 2020, Exhibit 4.2
4-5-5			Fifth Supplemental Indenture, dated as of March 7, 2022, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee									File No. 001-16169, Form 8-K dated March 7, 2022, Exhibit 4.2
4-5-6			Sixth Supplemental Indenture, dated as of February 1, 2023, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee									File No. 001-16169, Form 8-K dated February 21, 2023, Exhibit 4.2
4-5-7			Seventh Supplemental Indenture, dated as of February 27, 2024, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee									File No. 001-16169, Form 8-K dated February 27, 2024, Exhibit 4.2
4-6			Description of Exelon Securities									File No. 001-16169, Form 10-K dated February 11, 2020, Exhibit 4.63

Baltimore Gas and Electric Company

Exhibit No.			Description									Location
4-7			Indenture dated as of July 24, 2006 between Baltimore Gas and Electric Company and Deutsche Bank Trust Company Americas, as trustee									File No. 333-135991, Registration Statement on Form S-3 dated July 24, 2006, Exhibit 4(b)
4-8			Form of 2.400% notes due 2026 issued August 18, 2016 by Baltimore Gas and Electric Company									File No. 001-01910, Form 8-K dated August 18, 2016, Exhibit 4.1
4-9			Form of 3.500% Note due 2046 issued August 18, 2016 by Baltimore Gas and Electric Company									File No. 001-01910, Form 8-K dated August 18, 2016, Exhibit 4.2
4-10			Form of 3.750% Note due 2047 issued August 24, 2017 by Baltimore Gas and Electric Company									File No. 001-01910, Form 8-K dated August 24, 2017, Exhibit 4.1
4-11			Form of 4.550% Note due 2052 issued June 6, 2022 by Baltimore Gas and Electric Company									File No. 001-01910, Form 8-K dated June 6, 2022, Exhibit 4.2
4-12			Form of 5.400% Note due 2053 issued May 10, 2023 by Baltimore Gas and Electric									File No. 001-01910, Form 8-K dated May 10, 2023, Exhibit 4.2
4-13			Form of 5.300% Note due 2034 issued June 1, 2024 by Baltimore Gas and Electric									File No. 001-01910, Form 8-K dated June 06, 2024, Exhibit 4.1
4-14			Form of 5.650% Note due 2054 issued June 1, 2024 by Baltimore Gas and Electric									File No. 001-01910, Form 8-K dated June 06, 2024, Exhibit 4.2
4-15			Indenture, dated as of September 1, 2019, between Baltimore Gas and Electric Company and U.S. Bank N.A., as trustee									File No. 001-01910, Form 8-K dated September 12, 2019, Exhibit 4.1

Commonwealth Edison Company

Exhibit No.			Description									Location
4-16			Mortgage of Commonwealth Edison Company to Illinois Merchants Trust Company, Trustee (BNY Mellon Trust Company of Illinois, as current successor Trustee), dated July 1, 1923, as supplemented and amended by Supplemental Indenture thereto dated August 1, 1944									Registration No. 2-60201, Form S-7, Exhibit 2-1(a)
4-16-1			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of January 13, 2003									File No. 001-01839, Form 8-K dated February 13, 2003, Exhibit 4.4
4-16-2			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 22, 2006									File No. 001-01839, Form 8-K dated March 6, 2006, Exhibit 4.1

Exhibit No.			Description									Location
4-16-3			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of March 1, 2007									File No. 001-01839, Form 8-K dated March 23, 2007, Exhibit 4.1
4-16-4			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of December 20, 2007									File No. 001-01839, Form 8-K dated January 16, 2008, Exhibit 4.1
4-16-5			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of September 17, 2012									File No. 001-01839, Form 8-K dated October 1, 2012, Exhibit 4.1
4-16-6			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of August 1, 2013									File No. 001-01839, Form 8-K dated August 19, 2013, Exhibit 4.1
4-16-7			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of January 2, 2014									File No. 001-01839, Form 8-K dated January 10, 2014, Exhibit 4.1
4-16-8			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 18, 2015									File No. 001-01839, Form 8-K dated March 2, 2015, Exhibit 4.1
4-16-9			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of November 4, 2015									File No. 001-01839, Form 8-K dated November 19, 2015, Exhibit 4.1
4-16-10			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of June 15, 2016									File No. 001-01839, Form 8-K dated June 27, 2016, Exhibit 4.1
4-16-11			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of August 9, 2017									File No. 001-01839, Form 8-K dated August 23, 2017, Exhibit 4.1
4-16-12			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 6, 2018									File No. 001-01839, Form 8-K dated February 20, 2018, Exhibit 4.1
4-16-13			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of July 26, 2018									File No. 001-01839, Form 8-K dated August 14, 2018, Exhibit 4.1
4-16-14			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 7, 2019									File No. 001-01839, Form 8-K dated February 19, 2019, Exhibit 4.1
4-16-15			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of October 29, 2019									File No. 001-01839, Form 8-K dated November 12, 2019, Exhibit 4.1
4-16-16			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 10, 2020									File No. 001-01839, Form 8-K dated February 25, 2020, Exhibit 4.1
4-16-17			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 16, 2021									File No. 001-01839, Form 8-K dated March 9, 2021, Exhibit 4.1

Exhibit No.			Description									Location
4-16-18			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of August 2, 2021									File No. 001-01839, Form 8-K dated August 12, 2021, Exhibit 4.1
4-16-19			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 23, 2022									File No. 001-01839, Form 8-K/A dated March 15, 2022, Exhibit 4.1
4-16-20			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of December 21, 2022									File No. 001-01839, Form 8-K dated January 10, 2023, Exhibit 4.1
4-16-21			Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of May 1, 2024									File No. 001-01839, Form 8-K dated May 13, 2024, Exhibit 4.1
4-16			Instrument of Resignation, Appointment and Acceptance dated as of February 20, 2002, under the provisions of the Mortgage of Commonwealth Edison Company dated July 1, 1923, and Indentures Supplemental thereto, regarding corporate trustee									File No. 001-01839, Form 10-K dated April 1, 2002, Exhibit 4.4.2
4-17			Instrument dated as of January 31, 1996, under the provisions of the Mortgage of Commonwealth Edison Company dated July 1, 1923 and Indentures Supplemental thereto, regarding individual									File No. 001-01839, Form 10-K dated March 29, 1996, Exhibit 4.29
4-18			Description of ComEd Securities									File No. 001-16169, Form 10-K dated February 11, 2020, Exhibit 4.65

PECO Energy Company

Exhibit No.			Description									Location
4-19			First and Refunding Mortgage dated May 1, 1923 between The Counties Gas and Electric Company (predecessor to PECO Energy Company) and Fidelity Trust Company, Trustee (U.S. Bank N.A., as current successor trustee)									Registration No. 2-2281, Exhibit B-1(a)
4-19-1			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of December 1, 1941									Registration No. 2-4863, Exhibit B-1(h)(a)
4-19-2			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of April 15, 2004									File No. 000-16844, Form 10-Q dated September 30, 2004, Exhibit 4-1-1
4-19-3			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 15, 2006									File No. 000-16844, Form 8-K dated September 25, 2006, Exhibit 4.1
4-19-4			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of March 1, 2007									File No. 000-16844, Form 8-K dated March 19, 2007, Exhibit 4.1

Exhibit No.			Description									Location
4-19-5			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 1, 2014									File No. 000-16844, Form 8-K dated September 15, 2014, Exhibit 4.1
4-19-6			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 15, 2015									File No. 000-16844, Form 8-K dated October 5, 2015, Exhibit 4.1
4-19-7			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 1, 2017									File No. 000-16844, Form 8-K dated September 18, 2017, Exhibit 4.1
4-19-8			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of February 1, 2018									File No. 000-16844, Form 8-K dated February 23, 2018, Exhibit 4.1
4-19-9			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 1, 2018									File No. 000-16844, Form 8-K dated September 11, 2018, Exhibit 4.1
4-19-10			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of August 15, 2019									File No. 000-16844, Form 8-K dated September 10, 2019, Exhibit 4.1
4-19-11			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of June 1, 2020									File No. 000-16844, Form 8-K dated June 8, 2020, Exhibit 4.1
4-19-12			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of February 15, 2021									File No. 000-16844, Form 8-K dated March 8, 2021, Exhibit 4.1
4-19-13			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 1, 2021									File No. 000-16844, Form 8-K dated September 14, 2021, Exhibit 4.1
4-19-14			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of May 1, 2022									File No. 000-16844, Form 8-K dated May 24, 2022, Exhibit 4.1
4-19-15			Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of August 1, 2022									File No. 000-16844, Form 8-K dated August 23, 2022, Exhibit 4.1
4-19-16			Supplemental Indenture to PECO Energy Company's First and Refunding Mortgage dated as of June 1, 2023									File No. 001-16844, Form 8-K dated June 23, 2023, Exhibit 4.1
4-19-17			Supplemental Indenture to PECO Energy Company's First and Refunding Mortgage dated as of August 15, 2024									File No. 001-16844, Form 8-K dated September 10, 2024, Exhibit 4.1
4-20			Indenture to Subordinated Debt Securities dated as of June 24, 2003 between PECO Energy Company, as Issuer, and U.S. Bank N.A., as Trustee									File No. 000-16844, Form 10-Q dated July 30, 2003, Exhibit 4.1

Exhibit No.			Description									Location
4-21			Preferred Securities Guarantee Agreement between PECO Energy Company, as Guarantor, and U.S. Bank N.A., as Trustee, dated as of June 24, 2003									File No. 000-16844, Form 10-Q dated July 30, 2003, Exhibit 4.2
4-22			PECO Energy Capital Trust IV Amended and Restated Declaration of Trust among PECO Energy Company, as Sponsor, U.S. Bank Trust N.A., as Delaware Trustee and Property Trustee, and J. Barry Mitchell, George R. Shicora and Charles S. Walls as Administrative Trustees dated as of June 24, 2003									File No. 000-16844, Form 10-Q dated July 30, 2003, Exhibit 4.3

Atlantic City Electric Company

Exhibit No.			Description									Location
4-23			Mortgage and Deed of Trust, dated January 15, 1937, between Atlantic City Electric Company and The Bank of New York Mellon (formerly Irving Trust Company), as trustee									2-66280, Registration Statement dated December 21, 1979, Exhibit 2(a)(a)
4-23-1			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of June 1, 1949									2-66280, Registration Statement dated December 21, 1979, Exhibit 2(b)(a)
4-23-2			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of March 1, 1991									Form 10-K dated March 28, 1991, Exhibit 4(d)(1)(a)
4-23-3			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of April 1, 2004									File No. 001-03559, Form 8-K dated April 6, 2004, Exhibit 4.3
4-23-4			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of March 8, 2006									File No. 001-03559, Form 8-K dated March 17, 2006, Exhibit 4
4-23-5			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of December 1, 2015									File No. 001-03559, Form 8-K dated December 2, 2015, Exhibit 4.2 (included as Exhibit A to Exhibit 1.1).
4-23-6			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of October 9, 2018									File No. 001-03559, Form 8-K dated October 16, 2018, Exhibit 4.1
4-23-7			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of May 2, 2019									File No. 001-03559, Form 8-K dated May 21, 2019, File No. 4.3
4-23-8			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of June 1, 2020									File No. 001-03559, Form 8-K dated June 9, 2020, Exhibit 4.2
4-23-9			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of February 15, 2021									File No. 001-03559, Form 8-K dated March 10, 2021, Exhibit 4.1
4-23-10			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of November 1, 2021									File No. 001-03559, Form 8-K dated November 16, 2021, Exhibit 4.2
4-23-11			Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of February 1, 2022									File No. 001-03559, Form 8-K dated February 15, 2022, Exhibit 4.2
4-23-12			Supplemental Indenture to the Atlantic City Electric Company Mortgage and Deed of Trust, dated as of March 1, 2023									File No. 001-03559, Form 8-K dated March 15, 2023, Exhibit 4.2
4-23-13			Supplemental Indenture to the Atlantic City Electric Company Mortgage and Deed of Trust, dated as of March 1, 2024									File No. 001-03559, Form 8-K dated March 20, 2024, Exhibit 4.2
4-24			Pollution Control Facilities Loan Agreement, dated as of June 1, 2020, between The Pollution Control Financing Authority of Salem County and Atlantic City Electric									File No. 001-03559, Form 8-K dated June 2, 2020, Exhibit 4.1

Delmarva Power & Light Company

Exhibit No.			Description									Location
4-25			Mortgage and Deed of Trust of Delaware Power & Light Company to The Bank of New York Mellon (ultimate successor to the New York Trust Company), as trustee, dated as of October 1, 1943, and copies of the First through Sixty-Eighth Supplemental Indentures thereto									33-1763, Registration Statement dated November 27, 1985, Exhibit 4-(A)(a)
4-25-1			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of October 1, 1993									33-53855, Registration Statement dated January 30, 1995, Exhibit 4-L(a)
4-25-2			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of October 1, 1994									33-53855, Registration Statement dated January 30, 1995, Exhibit 4-N(a)
4-25-3			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of May 4, 2015									File No. 001-01405, Form 8-K dated May 5, 2015, Exhibit 4.2
4-25-4			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of December 5, 2016									File No. 001-01405, Form 8-K dated December 12, 2016, Exhibit 4.2
4-25-5			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of June 1, 2018									File No. 001-01405, Form 8-K dated June 21, 2018, Exhibit 4.2
4-25-6			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of May 2, 2019									File No. 001-01405, Form 8-K dated December 12, 2019, Exhibit 4.2
4-25-7			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of January 1, 2020									File No. 001-01405, Form 10-Q dated May 8, 2020, Exhibit 4.4
4-25-8			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of June 1, 2020									File No. 001-01405, Form 8-K dated June 9, 2020, Exhibit 4.4
4-25-9			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of February 15, 2021									File No. 001-01405, Form 8-K dated March 30, 2021, Exhibit 4.4
4-25-10			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of February 1, 2022									File No. 001-01405, Form 8-K dated February 15, 2022, Exhibit 4.4
4-25-11			Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of January 1, 2022									File No. 001-01405, Form 10-Q dated May 9, 2022, Exhibit 4.1
4-25-12			Supplemental Indenture to the Delmarva Power & Light Company Mortgage and Deed of Trust, dated as of March 1, 2023									File No. 001-01405, Form 8-K dated March 15, 2023, Exhibit 4.4

Exhibit No.			Description									Location
4-25-13			Supplemental Indenture to the Delmarva Power & Light Company Mortgage and Deed of Trust, dated as of March 1, 2024									File No. 001-01405, Form 8-K dated March 20, 2024, Exhibit 4.4
4-26			Gas Facilities Loan Agreement, dated as of July 1, 2020, between The Delaware Economic Development Authority and Delmarva Power & Light Company									File No. 001-01405, Form 8-K dated July 1, 2020, Exhibit 4.1

Potomac Electric Power Company

Exhibit No.			Description									Location
4-27			Mortgage and Deed of Trust, dated July 1, 1936, of Potomac Electric Power Company to The Bank of New York Mellon as successor trustee, securing First Mortgage Bonds of Potomac Electric Power Company, and Supplemental Indenture dated July 1, 1936									File No. 2-2232, Registration Statement dated June 19, 1936, Exhibit B-4(a)
4-27-1			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of December 10, 1939									8-K dated January 3, 1940, Exhibit B(a)
4-27-2			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 16, 2004									File No. 001-01072, Form 8-K dated March 23, 2004, Exhibit 4.3
4-27-3			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of May 24, 2005									File No. 001-01072, Form 8-K dated May 26, 2005, Exhibit 4.2
4-27-4			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of November 13, 2007									File No. 001-01072, Form 8-K dated November 15, 2007, Exhibit 4.2
4-27-5			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 24, 2008									File No. 001-01072, Form 8-K dated March 28, 2008, Exhibit 4.1
4-27-6			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of December 3, 2008									File No. 001-01072, Form 8-K dated December 8, 2008, Exhibit 4.2
4-27-7			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 11, 2013									File No. 001-01072, Form 8-K dated March 12, 2013, Exhibit 4.2
4-27-8			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of November 14, 2013									File No. 001-01072, Form 8-K dated November 15, 2013, Exhibit 4.2
4-27-9			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 9, 2015									File No. 001-01072, Form 8-K dated March 10, 2015, Exhibit 4.3
4-27-10			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of May 15, 2017									File No. 001-01072, Form 8-K dated May 22, 2017, Exhibit 4.2

Exhibit No.			Description									Location
4-27-11			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of June 1, 2018									File No. 001-01072, Form 8-K dated June 21, 2018, Exhibit 4.2
4-27-12			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of May 2, 2019									File No. 001-01072, Form 8-K dated June 13, 2019, Exhibit 4.2
4-27-13			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of February 12, 2020									File No. 001-01072, Form 8-K dated February 25, 2020, Exhibit 4.2
4-27-14			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of February 15, 2021									File No. 001-01072, Form 8-K dated March 30, 2021, Exhibit 4.4
4-27-15			Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 1, 2022									File No. 001-01072, Form 8-K dated March 24, 2022, Exhibit 4.2
4-27-16			Supplemental Indenture to the Potomac Electric Power Company Mortgage and Deed of Trust, dated as of March 1, 2023									File No. 001-01072, Form 8-K dated March 15, 2023, Exhibit 4.6
4-27-17			Supplemental Indenture to the Potomac Electric Power Company Mortgage and Deed of Trust, dated as of February 15, 2024									File No. 001-01072, Form 8-K dated March 4, 2024, Exhibit 4.3
4-28			Exempt Facilities Loan Agreement dated as of June 1, 2019 between the Maryland Economic Development Corporation and Potomac Electric Power Company									File No. 001-01072, Form 8-K dated June 27, 2019, Exhibit 4.1

(10) Material Contracts

Exelon Corporation

Exhibit No.			Description									Location
10-1			Transition Services Agreement, dated January 31, 2022, between Exelon Corporation and Constellation Energy Corporation									File No. 001-16169, Form 8K dated February 2, 2022, Exhibit 10.1
10-2			Tax Matters Agreement, dated January 31, 2022, between Exelon Corporation and Constellation Energy Corporation									File No. 001-16169, Form 8K dated February 2, 2022, Exhibit 10.2
10-3			Employee Matters Agreement, dated January 31, 2022, between Exelon Corporation and Constellation Energy Corporation									File No. 001-16169, Form 8K dated February 2, 2022, Exhibit 10.3
10-4			Amended and Restated Credit Agreement for $900,000,000 dated August 29, 2024, between Exelon Corporation and various financial institutions									File No. 001-16169, Form 10-K dated October 30, 2024, Exhibit 10.1
10-5			Exelon Corporation Non-Employee Directors’ Deferred Stock Unit Plan (As Amended and Restated Effective April 28, 2020)									File No. 001-16169, Form 10-Q dated August 4, 2020, Exhibit 10.1

Exhibit No.			Description									Location
10-6			Form of Exelon Corporation Unfunded Deferred Compensation Plan for Directors (as amended and restated Effective March 12, 2012) *									File No. 001-16169, Form 10-K dated February 13, 2015, Exhibit 10.3
10-7			Exelon Corporation Supplemental Management Retirement Plan (As Amended and Restated Effective January 1, 2009) *									File No. 001-16169, Form 10-K dated February 6, 2009, Exhibit 10.19
10-8			Exelon Corporation Employee Stock Purchase Plan, as amended and restated effective September 25, 2019									File No. 001-16169, Form 10-Q dated October 31, 2019, Exhibit 10.3
10-9			Exelon Corporation Employee Stock Purchase Plan for Unincorporated Subsidiaries, as amended and restated effective September 25, 2019									File No. 001-16169, Form 10-Q dated October 31, 2019, Exhibit 10.4
10-10			Exelon Corporation 2020 Long-Term Incentive Plan (Effective April 28, 2020)									File No. 001-16169, Proxy Statement dated March 18, 2020, Appendix A
10-11			Exelon Corporation 2020 Long-Term Incentive Plan Prospectus, dated May 27, 2020									File No. 001-16169, Form 10-Q dated August 4, 2020, Exhibit 10.3
10-12			Form of Restricted Stock Unit Award Notice and Agreement under the Exelon Corporation 2020 Long-Term Incentive Plan									File No. 001-16169, Form 10-Q dated August 4, 2020, Exhibit 10.4
10-13			Form of Performance Share Award Notice and Agreement under the Exelon Corporation 2020 Long-Term Incentive Plan									File No. 001-16169, Form 10-Q dated August 4, 2020, Exhibit 10.5
10-14			Exelon Corporation Senior Management Severance Plan as Amended and Restated effective February 1, 2024									File No. 001-16169, Form 10-K dated February 21, 2024, Exhibit 10.15.1
10-15			Form of Separation Agreement under Exelon Corporation Senior Management Severance Plan (As Amended and Restated Effective January 1, 2020)									File No. 001-16169, Form 10-K dated February 11, 2020, Exhibit 10.21
10-16			Exelon Corporation Executive Death Benefits Plan dated as of January 1, 2003 *									File No. 001-16169, Form 10-K dated February 13, 2007, Exhibit 10.52
10-16-1			First Amendment to Exelon Corporation Executive Death Benefits Plan, Effective January 1, 2006 *									File No. 001-16169, Form 10-K dated February 13, 2007, Exhibit 10.53
10-17			Exelon Corporation Deferred Compensation Plan (As Amended and Restated Effective December 1, 2024)									Filed herewith

Exhibit No.			Description									Location
10-18			Exelon Corporation Stock Deferral Plan (As Amended and Restated Effective September 25, 2019)									File No. 001-16169, Form 10-Q dated October 31, 2019, Exhibit 10.5
10-19			2023 Amendment to Certain Plans of Exelon Corporation									File No. 001-16169, Form 10-K dated February 24, 2021, Exhibit 10.22
10-20			Constellation Energy Group Benefits Restoration Plan (As Amended and Restated Effective January 1, 2025)									Filed herewith

Commonwealth Edison Company

Exhibit No.			Description									Location
10-21			Deferred Prosecution Agreement, dated July 17, 2020, between Commonwealth Edison Company and the U.S. Department of Justice and the U.S. Attorney for the Northern District of Illinois									File No. 001-01839, Form 8-K dated July 17, 2020, Exhibit 10.1
10-22			Amended and Restated Credit Agreement for $1,000,000,000 dated August 29, 2024, between Commonwealth Edison Company and various financial institutions									File No. 001-01839, Form 10-K dated October 30, 2024, Exhibit 10.2

Baltimore Gas and Electric Company

Exhibit No.			Description									Location
10-23			Amended and Restated Credit Agreement for $600,000,000 dated August 29, 2024, between Baltimore Gas and Electric Company and various financial institutions									File No. 001-01910, Form 10-K dated October 30, 2024, Exhibit 10.4

PECO Energy Company

Exhibit No.			Description									Location
10-25			PECO Energy Company Supplemental Pension Benefit Plan (As Amended and Restated Effective January 1, 2009)									File No. 000-16844, Form 10-K dated February 6, 2009, Exhibit 10.20
10-26			Amended and Restated Credit Agreement for $600,000,000 dated August 29, 2024, between PECO Energy Company and various financial institutions									File No. 000-16844, Form 10-K dated October 30, 2024, Exhibit 10.3

Atlantic City Electric Company, Potomac Electric Power Company, Delmarva Power & Light Company

Exhibit No.			Description									Location
10-27			Bond Purchase Agreement, dated December 1, 2015, among Atlantic City Electric Company and the purchasers signatory thereto									File No. 001-03559, Form 8-K dated December 2, 2015, Exhibit 1.1
10-28			Amended and Restated Credit Agreement for $900,000,000 dated August 29, 2024, between Potomac Electric Power Company, Delmarva Power & Light Company, Atlantic City Electric Company and various financial institutions									File Nos. 001-010172, 001-01405, 001-03559, Form 10-K dated October 30, 2024, Exhibit 10.5

(14) Code of Ethics

Exelon Corporation

Exhibit No.			Description									Location
14-1			Exelon Code of Conduct, as amended December 04, 2024									Filed herewith.

(19) Insider trading policies and procedures

Exelon Corporation

Exhibit No.			Description									Location
19-1			Exelon Insider Trading Policy									File No. 001-16169, Form 10-K dated February 21, 2024, Exhibit 19.1

(97) Policy Relating to Recovery of Erroneously Awarded Compensation

Exelon Corporation

Exhibit No.			Description									Location
97-1			Exelon Financial Restatement Compensation Recoupment Policy									File No. 001-16169, Form 10-K dated February 21, 2024, Exhibit 97.1

Exhibit No.			Description
			Subsidiaries
21-1			Exelon Corporation
21-2			Commonwealth Edison Company
21-3			PECO Energy Company
21-4			Baltimore Gas and Electric Company
21-5			Pepco Holdings LLC
21-6			Potomac Electric Power Company
21-7			Delmarva Power & Light Company
21-8			Atlantic City Electric Company
			Consent of Independent Registered Public Accountants
23-1			Exelon Corporation
23-2			Commonwealth Edison Company

Exhibit No.			Description
23-3			Potomac Electric Power Company
			Power of Attorney (Exelon Corporation)
24-1			Anna Richo
24-2			Calvin G. Butler, Jr.
24-3			W. Paul Bowers
24-4			Marjorie Rodgers Cheshire
24-5			Matthew Rogers
24-6			Linda P. Jojo
24-7			Charisse R. Lillie
24-8			John F. Young
24-9			Bryan Segedi
			Power of Attorney (Commonwealth Edison Company)
24-10			Michael A. Innocenzo
24-11			Elizabeth Buchanan
24-12			Stephen Bowman
24-13			Ricardo Estrada
24-14			Zaldwaynaka Scott
24-15			Smita Shah
24-16			Gil C. Quiniones
			Power of Attorney (PECO Energy Company)
24-17			Nicholas Bertram
24-18			Michael A. Innocenzo
24-19			John S. Grady
24-20			David M. Velazquez
24-21			Sharmain Matlock-Turner
24-22			Michael Nutter
24-23			Michelle Hong
24-24			Roberto E. Perez
			Power of Attorney (Baltimore Gas and Electric Company)
24-25			Michael A. Innocenzo
24-26			Carim V. Khouzami
24-27			Keith Lee
24-28			Rachel Garbow Monroe
24-29			Byron Marchant

Exhibit No.			Description
24-30			Tim Regan
24-31			Amy Seto
24-32			Maria Harris Tildon
			Power of Attorney (Pepco Holdings LLC)
24-33			Antoine Allen
24-34			J. Tyler Anthony
24-35			Michael A. Innocenzo
24-36			Debra P. DiLorenzo
24-37			Benjamin Wu
24-38			Linda W. Cropp
24-39			Rosie Allen-Herring
			Power of Attorney (Potomac Electric Power Company)
24-40			J. Tyler Anthony
24-41			David M. Vahos
24-42			Michael A. Innocenzo
24-43			Rodney Oddoye
24-44			Valencia McClure
24-45			Tamla Olivier
24-46			Anne C. Bancroft
			Power of Attorney (Delmarva Power & Light Company)
24-47			J. Tyler Anthony
24-48			Michael A. Innocenzo
			Power of Attorney (Atlantic City Electric Company)
24-49			J. Tyler Anthony

Certifications Pursuant to Rule 13a-14(a) and 15d-14(a) of the Securities and Exchange Act of 1934 as to the Annual Report on Form 10-K for the year ended December 31, 2024 filed by the following officers for the following registrants:

Exhibit No.			Description
31-1			Filed by Calvin G. Butler, Jr. for Exelon Corporation
31-2			Filed by Jeanne M. Jones for Exelon Corporation
31-3			Filed by Gil C. Quiniones for Commonwealth Edison Company
31-4			Filed by Joshua S. Levin for Commonwealth Edison Company
31-5			Filed by David M. Velazquez for PECO Energy Company
31-6			Filed by Marissa E. Humphrey for PECO Energy Company
31-7			Filed by Carim V. Khouzami for Baltimore Gas and Electric Company

Exhibit No.			Description
31-8			Filed by Michael J. Cloyd for Baltimore Gas and Electric Company
31-9			Filed by J. Tyler Anthony for Pepco Holdings LLC
31-10			Filed by David M. Vahos for Pepco Holdings LLC
31-11			Filed by J. Tyler Anthony for Potomac Electric Power Company
31-12			Filed by David M. Vahos for Potomac Electric Power Company
31-13			Filed by J. Tyler Anthony for Delmarva Power & Light Company
31-14			Filed by David M. Vahos for Delmarva Power & Light Company
31-15			Filed by J. Tyler Anthony for Atlantic City Electric Company
31-16			Filed by David M. Vahos for Atlantic City Electric Company
Certifications Pursuant to Section 1350 of Chapter 63 of Title 18 United States Code as to the Annual Report on Form 10-K for the year ended December 31, 2024 filed by the following officers for the following registrants:
Exhibit No.			Description
32-1			Filed by Calvin G. Butler, Jr. for Exelon Corporation
32-2			Filed by Jeanne M. Jones for Exelon Corporation
32-3			Filed by Gil C. Quiniones for Commonwealth Edison Company
32-4			Filed by Joshua S. Levin for Commonwealth Edison Company
32-5			Filed by David M. Velazquez for PECO Energy Company
32-6			Filed by Marissa E. Humphrey for PECO Energy Company
32-7			Filed by Carim V. Khouzami for Baltimore Gas and Electric Company
32-8			Filed by Michael J. Cloyd for Baltimore Gas and Electric Company
32-9			Filed by J. Tyler Anthony for Pepco Holdings LLC
32-10			Filed by David M. Vahos for Pepco Holdings LLC
32-11			Filed by J. Tyler Anthony for Potomac Electric Power Company
32-12			Filed by David M. Vahos for Potomac Electric Power Company
32-13			Filed by J. Tyler Anthony for Delmarva Power & Light Company
32-14			Filed by David M. Vahos for Delmarva Power & Light Company
32-15			Filed by J. Tyler Anthony for Atlantic City Electric Company
32-16			Filed by David M. Vahos for Atlantic City Electric Company
101.INS			Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH			Inline XBRL Taxonomy Extension Schema Document.
101.CAL			Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF			Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB			Inline XBRL Taxonomy Extension Labels Linkbase Document.
101.PRE			Inline XBRL Taxonomy Extension Presentation Linkbase Document.

Exhibit No.			Description
104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

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• Compensatory plan or arrangements in which directors or officers of the applicable registrant participate and which are not available to all employees.

(a)These filings are not available electronically on the SEC website as they were filed in paper previous to the electronic system that is currently in place.