NRG Energy Increases Guidance Following Completion of GenOn Transaction

NRG Energy announced this morning that it is increasing its guidance for both adjusted EBITDA and Free Cash Flow before Growth investments following the successful close of the GenOn transaction on December 14, 2012.

Specifically, NRG is reaffirming 2013 adjusted EBITDA guidance, increasing its 2014 adjusted EBITDA guidance by $70 million, and increasing both 2013 and 2014 Free Cash Flow before Growth guidance by $75 million and $55 million, respectively. These increases in guidance are relative to the guidance ranges for the combined company previously provided in connection with the merger announcement in July 2012 and are due to a number of factors, including:

• Updated outlook on forward commodity prices

• Review of expenditures for the combined portfolio

• Impact of reduction in projected environmental capital expenditures previously disclosed

NRG's updated Guidance does not modify its previously issued Guidance with respect to the Retail segment, which is Adjusted EBITDA for the Retail segment of $650-725 million for 2013 and $675-$750 million for 2014.

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