Duke Energy Corporation has successfully completed the sale of its Tennessee natural gas local distribution company business, Piedmont Natural Gas Company, Inc., to Spire Tennessee Inc. for a total consideration of $2.48 billion in cash. This transaction, which was finalized on March 31, 2026, follows an Asset Purchase Agreement dated July 27, 2025, and is subject to customary purchase price adjustments. The sale is expected to enhance Duke Energy's financial position and streamline its operations, allowing for a more focused approach to its core business areas. The unaudited pro forma financial information reflecting the impact of this transaction as of December 31, 2025, has been filed as part of the current report. The completion of this sale is anticipated to have a significant positive effect on Duke Energy's stock price, as it allows the company to allocate resources more effectively and potentially improve its earnings outlook moving forward. The transaction is not considered a strategic shift but rather a strategic realignment that is expected to bolster the company's operational execution and financial health.

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