Garrick Rochow

“I always start with our investment thesis because it is a durable and proven model that has delivered for more than 20 years a consistent industry-leading performance for all stakeholders.”

“Our investment thesis remains consistent, focused, and durable. It is a simple but powerful business model built on more than two decades of consistent performance, deliberate execution, disciplined capital allocation, and industry-leading results.”

“Our investment thesis, which you see on slide three, continues to stand the test of time. Whether it's our long capital runway, Michigan's top-tier regulatory jurisdiction, our ability to keep bills affordable for customers or the strong economic growth across the state, this model works.”

“Our investment thesis, which you see on slide three, continues to stand the test of time. Whether it's our long Capital Runway, Michigan's top-tier regulatory jurisdiction, our ability to keep bills affordable for customers, or the strong economic growth across the state, this model works.”

“Before we get into the financial results, I'm very proud of the team in 2025, as you see from the slide, and I want to highlight a few of the big wins the CMS Energy team delivered in 2025.”