8-K: Duke Energy Carolinas and Progress to combine into single utility effective January 1, 2027

The proposed combination is an internal reorganization of entities under common control, with Duke Energy Carolinas surviving as a wholly owned subsidiary of Progress Energy. The unaudited pro forma condensed combined financial information reflects the transaction as if it had occurred on January 1, 2023 for the statements of operations and on June 30, 2026 for the balance sheet. The combination will not result in a change in ultimate ownership or control of Duke Energy.

The proposed combination is an internal reorganization of entities under common control, with Duke Energy Carolinas surviving as a wholly owned subsidiary of Progress Energy. The unaudited pro forma condensed combined financial information reflects the transaction as if it had occurred on January 1, 2023 for the statements of operations and on June 30, 2026 for the balance sheet. The combination will not result in a change in ultimate ownership or control of Duke Energy.