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20	20	* On March 27, 2023, FirstEnergy announced that the FE Board had appointed Brian X. Tierney to the position of President and Chief Executive Officer, effective as of June 1, 2023. John W. Somerhalder II will cease serving as Interim President and Chief Executive Officer at the conclusion of May 31, 2023, and will continue to serve as the Chair of the FE Board.
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24	24	= Recent Financial Activities =
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26	26	* On February 2, 2023, FE along with FET (FirstEnergy Transmission, LLC, the parent company of ATSI, MAIT and TrAIL) entered in FET P&SA II with Brookfield and Brookfield Guarantors where the latter agreed to purchase an additional 30% equity of FET for a purchase price of $3.5 billion, of which $1.75 billion will be in the form of promissory note issuance and the rest is cash.
27	27	* On December 13, 2021, FE privately issued to BIP Securities II-B L.P., an affiliate of Blackstone Infrastructure Partners L.P., 25,588,535 shares of FE’s common stock, par value $0.10 per share, at a price of $39.08 per share, representing an investment of $1.0 billion.
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30	30	= Business Overview =
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32	32	FE and its subsidiaries are principally involved in the transmission, distribution, and generation of electricity. The subsidiaries of the company can be divided as regulated utility operating subsidiaries and regulated transmission operating subsidiaries.
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36	36	The Utilities’ combined service areas encompass approximately 65,000 square miles in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. The areas they serve have a combined population of approximately 14 million.
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	36	+|(% style="width:356px" %)**Subsidiary Name**|(% style="width:457px" %)**Operational Area**|(% style="width:248px" %)**Population Covered**
	37	+|(% style="width:356px" %)Ohio Edison Company (OE)|(% style="width:457px" %)Central and Northeastern Ohio|(% style="width:248px" %)2.4 million
	38	+|(% style="width:356px" %)Pennsylvania Power Company (Penn)|(% style="width:457px" %)Western Pennsylvania|(% style="width:248px" %)0.4 million
	39	+|(% style="width:356px" %)The Cleveland Electric Illuminating Company (CEI)|(% style="width:457px" %)Northeastern Ohio|(% style="width:248px" %)1.7 million
	40	+|(% style="width:356px" %)The Toledo Edison Company (TE)|(% style="width:457px" %)Northwestern Ohio|(% style="width:248px" %)0.7 million
	41	+|(% style="width:331px" %)Jersey Central Power & Light Company (JCP&L)|(% style="width:457px" %)Northern, Western, and East Central New Jersey|(% style="width:248px" %)2.9 million
	42	+|(% style="width:356px" %)Metropolitan Edison (ME)|(% style="width:457px" %)Eastern and South Central Pennsylvania|(% style="width:248px" %)1.3 million
	43	+|(% style="width:356px" %)Pennsylvania Electric Company (PN)|(% style="width:457px" %)Western, Northern, and South Central Pennsylvania|(% style="width:248px" %)1.2 million
	44	+|(% style="width:356px" %)The Potomac Edison Company (PE)|(% style="width:457px" %) |(% style="width:248px" %)
	45	+|(% style="width:356px" %)Monongahela Power Company (MP)|(% style="width:457px" %) |(% style="width:248px" %)
	46	+|(% style="width:356px" %)West Penn Power Company (WP)|(% style="width:457px" %) |(% style="width:248px" %)
	47	+|(% style="width:356px" %) |(% style="width:457px" %) |(% style="width:248px" %)
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