Duke Energy 2025 Proxy Statement

March 14, 2025

Dear Fellow Shareholders:

I am pleased to invite you to Duke Energy’s Annual Meeting to be held on Thursday, May 1, 2025, at 1:00 p.m. Eastern time. We look forward to updating you on our accomplishments in 2024, focus areas for 2025, and the path forward for Duke Energy.

2024 was a year of execution. We made meaningful progress on our strategic priorities, including advancing new generation and transmission investments and building on our track record of constructive regulatory outcomes. 2024 was also largely defined by our response to a historic hurricane season. I am proud of how our teammates worked around the clock to restore 5.5 million outages as quickly and safely as possible and rebuilt large portions of our system in a matter of days.

I assume the role of CEO at a pivotal time for our Company. In 2025, our focus will be on powering today’s economy – one that is evolving thanks to the growth in United States manufacturing, expanded energy use, and advancements in technologies. Our job is to serve this demand and continue to deliver value for our stakeholders. Meeting this growth will require three things – continuing to put customers’ needs at the forefront, maintaining an “all of the above” generation strategy, and modernizing regulatory reforms and policies to drive new opportunities.

Today’s Duke Energy is in a strong and enviable position, and our strategy remains the same – to continue the modernization of our generation and transmission for a new era of growing and dynamic energy demand. We are a fully regulated company operating in growing jurisdictions with modernized regulatory constructs all of which are underpinned by our over 26,000 teammates’ unwavering focus on customers, safety, and operational excellence. We have line of sight to accelerating load growth and are investing for the future.

This proxy statement contains information about our Board’s oversight of Duke Energy’s strategy, performance, and risks, as well as our sustainable business practices and commitment to our employees, whose dedication contributes to our high customer satisfaction ratings and continued operational excellence. It also describes the outreach we had in 2024 with you – our fellow shareholders – and how that feedback has influenced the work that we are doing at Duke Energy.

Annual Meeting Details

This year’s Annual Meeting will once again be held exclusively via live webcast. The online format has successfully expanded our ability to connect with shareholders from all over the world while still providing you the same opportunities to vote and ask questions that you would have had at an in-person meeting, including by submitting questions in writing in advance of the Annual Meeting on our pre-meeting forum at www.proxyvote.com. An audio broadcast of the Annual Meeting will also be available by phone toll-free at 877.328.2502. Details regarding how to participate in the Annual Meeting via live webcast, as well as the items to be voted on, are described in the accompanying Notice of Annual Meeting of Shareholders, “Rules of Conduct for the Annual Meeting” on page 1 of this proxy statement, and in the “Frequently Asked Questions and Answers About the Annual Meeting” on  of this proxy statement.

Please review this proxy statement prior to voting as it contains important information relating to the business of the Annual Meeting. Page 86 of this proxy statement contains instructions on how you can vote your shares online, by phone, or by mail. We encourage you to vote and share your feedback with us and hope you can participate in the Annual Meeting.

Thank you for your continued investment in Duke Energy.

Sincerely,



Harry K. Sideris 
President and Incoming CEO