ATLANTIC CITY ELECTRIC
Atlantic City Electric Receives Green Light for New Electric Vehicle Programs
New suite of programs will support development of 3,250 EV charging ports in public spaces, businesses and homes across southern New Jersey

Atlantic City Electric has received approval from the New Jersey Board of Public Utilities (BPU) to implement a suite of programs that willexpand clean electric transportation options in southern New Jersey and help make the transition to electric vehicles (EVs) more convenient and affordable. The company's programs will help develop new public charging infrastructure in the region and support customers interested in clean transportation options with new and incentives

"We are excited to offer new programs that will help expand clean electric transportation options for all communities in our service area, support New Jersey's climate goals and help improve air quality in the region," said Gary Stockbridge, Atlantic City Electric region president. "We worked closely with all involved to reach an agreement that will rapidly grow South Jersey's public charging network and support commercial and residential customers who want to skip the gas pump. As we continue to help position New Jersey as a leader in this rapidly growing industry, we look forward to exploring opportunities to support clean transportation options for larger trucks and buses, public transportation and our bigger industrial customers, like ports and distribution centers."

The approved programs align with the BPU's recent order outlining a focus on "make-ready" support that allows the company to partner with the private market to significantly expand public EV charging options and support residential and commercial customers interested in installing EV charging equipment. Rebate programs will last until December 31, 2026, or until program funds are fully exhausted.

Atlantic City Electric's new programs include:

• Public Charging - Provide incentives to cover a portion of the installation costs for 1,100 privately owned/operated Smart Level 2 (L2) and direct current fast charging (DCFC) ports in locations available to the public 24/7.

• Residential EV Charging Program - Offer 50 percent rebates (up to $1,000) to cover the installation of Smart L2 EV charging equipment in homes and offer a new EV rate option for residential customers that encourages them to charge their vehicles during "off-peak" hours, helping make charging a vehicle at home even more affordable.

• Multifamily Building EV Charger Rebates - Offer rebates to cover a portion of installation costs for 200 Smart L2 EV charging ports in multifamily buildings.
• Workplace and Fleet EV Charger Rebates - Offer 50 percent rebates to cover a portion of installation costs for 450 Smart L2 EV charging ports for employee parking lots and company vehicle fleets at businesses across South Jersey.
• New EV Fast Charging Station Rate - New rate option for owners of public EV fast charging stations that will help attract private investment in fast chargers and support the continued expansion of charging infrastructure in South Jersey.

"The programs that will be offered by Atlantic City Electric are a crucial part of the puzzle to electrify the transportation sector in New Jersey," said Pam Frank, CEO of ChargEVC-NJ. "Atlantic City Electric's approval comes on the heels of Governor Murphy's announcement earlier this week of an additional $100 million in investments towards statewide electric vehicle programs. The needed investments from our public utilities can fit together like pieces of a puzzle with these other investments. For example, Atlantic City Electric's programs will enable fast charging public stations, filling an important vacuum in the southern portion of our state that has not been fully addressed by past investments."

Expanding public EV charging infrastructure will make clean transportation more convenient in South Jersey. The programs will support the development of 1,000 Smart L2 EV charging ports, which can fully charge most EVs in about 3-5 hours, and 100 DCFC ports, which can charge most EVs to 80 percent in 30 minutes or less. Third-party providers will install, own, and maintain the charging stations. Locations will be determined by third-party providers and incentives will be provided on a first-come-first-serve basis. Charging stations supported by the program will be accessible to the public 24 hours a day, seven days a week and serve all EV makes and models.

Atlantic City Electric's new programs are designed to create equitable access to clean transportation options. The programs will not only support building public EV chargers in communities across southern New Jersey, but also expand access to EV charging options for households with limited incomes through At least 20% of the charging ports supported through the Multifamily Building program will be sited in overburdened communities and will receive rebates covering 100% of installation costs.

As EVs become more popular, EV charging in New Jersey is projected to grow electricity consumption by 30 percent by 2035. Growing demand for EVs requires more charging infrastructure and enhancements to . Atlantic City Electric's new programs are designed to expand needed public EV charging options and help the company , so it can support future deployment of EV infrastructure and avoid potentially costly infrastructure gaps in the local energy grid.

"Atlantic City Electric's programs will help maximize South Jersey's economic development potential," said Jane Asselta, vice president of Southern NJ Development Council. "Beyond the generous residential rebates and lower off-peak rates, the public charging incentives and fast charging rates will encourage highway corridor charging buildout, critically important to our tourism industry, and will also stimulate private investment in workplaces, shopping centers, outlets and malls, healthcare facilities and entertainment attractions. These programs can also support EV charging station deployment in South Jersey's rural communities, making those towns more attractive to new businesses and residents."

Expanding clean transportation options is critical to meeting New Jersey's environmental goals and the State's Energy Master Plan. Transportation is the largest source of GHG emissions in New Jersey, with tailpipe emissions accounting for nearly half of all GHG emissions in the state. Atlantic City Electric's new programs will support New Jersey in its goals of putting 330,000 EVs on the road by 2025 and reducing GHG emissions 80 percent below 2006 levels by 2050.

Similar to other energy services and investments Atlantic City Electric makes in the local energy grid, these new services will be paid for through delivery charges on customer bills. The programs are expected to cost approximately $21 million, or about 30 cents on the monthly bill for the typical Atlantic City Electric residential customer using 679 kWh per month. Launching EV programs like these will help New Jersey prepare for the jobs and economic opportunities connected to .

Readers are encouraged to visit The Source, Atlantic City Electric's online news room. For more information about Atlantic City Electric, visit atlanticcityelectric.com. Follow the company on Facebook at facebook.com/atlanticcityelectric and on Twitter at twitter.com/acelecconnect. Our mobile app is available at atlanticcityelectric.com/mobileapp.

Atlantic City Electric is a unit of Exelon Corporation (Nasdaq: EXC), the nation's leading energy provider, with approximately 10 million customers. Atlantic City Electric provides safe and reliable energy service to approximately 560,000 customers in southern New Jersey.

Contact:
Amber Burruezo                                                    
Atlantic City Electric, Communications
866-655-2237 (media hotline)