Talen Energy Corporation (“Talen,” the “Company,” “we” or “our”) (NASDAQ: TLN), a leading independent power producer, today announced a planned CEO succession, $1.5 billion accelerated share repurchase transactions (“ASRs”) and an upsized $3.0 billion share repurchase program (“SRP”).

The Board of Directors (the “Board”) has named Terry Nutt as Talen’s next Chief Executive Officer (“CEO”), effective January 1, 2027. Mr. Nutt, currently Talen’s President, will also join the Board upon his appointment as CEO. Mac McFarland will remain CEO and a member of the Board through December 31, 2026, and will then serve as a senior advisor until his retirement in March 2027. The transition period is intended to support an orderly handoff and continuity in the Company’s strategy, operations and capital allocation priorities.