Exelon Wins Global Energy Industry Award for Strategic Deal of the Year

  Exelon Wins Global Energy Industry Award for Strategic Deal of the Year

 Merger of Exelon and Constellation recognized for strategic significance and
                              successful closure

Business Wire

NEW YORK -- November 30, 2012

Exelon yesterday received the  2012 Platts Global Energy Award  in the
“Strategic Deal” category for the successful merger of Exelon and
Constellation.  The award recognizes the success of a new energy project,
asset buyout, or full company merger or acquisition in a time of uncertain
markets and global interdependence.

“Exelon’s merger with Constellation began a new era for the company by
combining one of the cleanest and lowest-cost power generation fleets with one
of the largest retail and wholesale customer bases in the United States,” said
Christopher M. Crane, president and CEO of Exelon. “It is gratifying to have
industry experts from around the world recognize the value and strategic
vision of the transaction.”

Completed in March 2012, the $7.9 billion merger of Exelon and Constellation
formed the largest U.S. competitive energy provider, with operations in 47
states, the District of Columbia and Canada. It also brought together under
one organization three leading electric and gas utilities — BGE, ComEd and
PECO — which serve central Maryland (including Baltimore), northern Illinois
(including Chicago) and southeastern Pennsylvania (including Philadelphia),
respectively.

The merger strategy paired Exelon’s large, environmentally advantaged
generation fleet with Constellation’s industry-leading customer-facing
businesses. It matched 242 terawatt-hours of expected generation with 164
terawatt-hours of expected load in key markets to maximize value for customers
and shareholders. The merger was built upon the legacy companies’ shared
philosophy that electricity competition is key to driving innovation, choice
and savings for customers.

The new Exelon is well positioned to realize the merger’s value. Although the
combination was driven primarily by strategic fit, Exelon expects to achieve
$550 million in run-rate O&M synergies and $75 million in capex synergies by
2014.

“Congratulations to this year’s Global Energy Award winners for their
outstanding accomplishments and contributions in the global energy industry,”
said Larry Neal, president of Platts.

Nominees for the Strategic Deal award are evaluated in the areas of strategic
vision, leadership, scope, challenges, and financial and non-financial
results. Winners are selected by an impartial panel of international energy
experts that includes past and present heads of energy companies, energy
ministers, national regulators, academics and legislators.

Exelon Corporation (NYSE:EXC) is the nation’s leading competitive energy
provider, with approximately $33 billion in annual revenues. Headquartered in
Chicago, Exelon has operations and business activities in 47 states, the
District of Columbia and Canada. Exelon is the largest competitive U.S. power
generator, with approximately 35,000 megawatts of owned capacity comprising
one of the nation’s cleanest and lowest-cost power generation fleets. The
company’s Constellation business unit provides energy products and services to
approximately 100,000 business and public sector customers and approximately 1
million residential customers. Exelon’s utilities deliver electricity and
natural gas to more than 6.6 million customers in central Maryland (BGE),
northern Illinois (ComEd) and southeastern Pennsylvania (PECO). Learn more at:
www.exeloncorp.com.

Contact:

Exelon Corporation
Paul Elsberg
Corporate Communications
312-394-7417
paul.elsberg@exeloncorp.com
 
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