On March 7, 2024, Duke Energy Corporation announced that it has received a shareholder proposal from John Chevedden requesting Board of Directors to adopt a policy requiring the 5 named executive officers (NEOs) to retain a significant percentage of stock acquired through equity pay programs until reaching normal retirement age and to report to shareholders regarding the policy in the Company?s next annual meeting proxy. For the purpose of this policy, normal retirement age would be an age of at least 60 and be determined by the Company executive pay committee. Shareholders recommend a share retention percentage requirement of 25% of net after-tax shares.

In addition, the board has recommended shareholders to vote against this proposal at the 2024 Annual Meeting to be held on May 9, 2024.