DTE Vitality reviews sturdy outcomes for the second quarter of 2021,

• Completed DT midstream spin-off
• Introduction of the first Tree Trim Academy of its kind
• Recognized as a top corporate citizen in Michigan
• Decommissioned River Rouge coal-fired power station

DETROIT, July 27, 2021 (GLOBE NEWSWIRE) – DTE Energy (NYSE: DTE) today announced earnings of $ 179 million, or $ 0.92 per diluted share, for the second quarter of 2021, compared to 277 million $ 1.44 per diluted share in 2020.

Operating profit for the second quarter of 2021 was $ 329 million, or $ 1.70 per diluted share, compared to 2020 operating profit of $ 295 million, or $ 1.53 per diluted share. Income from operations excludes one-time items, certain mark-to-market adjustments, and discontinued operations. Reconciliations of reported earnings to operating earnings are included at the end of this press release.

“The first half of 2021 was very positive as our strong team continued to work for our customers, communities and investors. We also completed the successful spin-off of our midstream business, now called DT Midstream, ”said Jerry Norcia, President and CEO of DTE Energy. "With DTE as a largely pure utility company, we will continue to implement our infrastructure and clean energy initiatives for our utility customers in Michigan."

Norcia noted the following recent corporate accomplishments:

• Closed DT midstream spin-off: DT Midstream, a leading provider of natural gas pipelines, storage and collection, made its debut as an independent, publicly traded company following the successful completion of its separation from DTE Energy on July 1, 2021.
• Introduction of the first Tree Trim Academy of its kind: In partnership with the International Brotherhood of Electrical Workers Local 17, the City of Detroit, and Focus: HOPE, DTE's Tree Trim Academy will offer new jobs, paid training, and comprehensive services – such as childcare and transportation – to a diverse pool of talent. The academy's graduates will help ensure energy reliability by reducing outages from fallen trees. This innovative initiative connects the needs of the community with the needs of the company.
• Classified as one of the best in the country Corporate Citizens of Points of Light: One of two Michigan companies named into the Civic 50 – the top 50 companies in the country in corporate citizenship – by Points of Light, the world's largest volunteer service organization. DTE has also been recognized nationwide as a leading energy company.
• Decommissioned River Rouge power plant: The closure of the River Rouge power plant is another milestone in DTE's transition to clean energy, which includes increased investments in wind and solar energy, as well as the use of cleaner natural gases.
• Improved MIGreenPower Voluntary Renewable Energy Program: The Michigan Public Service Commission (MPSC) approval of the DTE renewable energy plan will allow the company to add a total of 1,000 megawatts of new voluntary wind and solar systems by the end of 2023. DTE also received approval from the MPSC to update this program, making clean energy more accessible and affordable for all customers.
• Increased commitment to the net zero target through cooperation with automobile manufacturers to optimize the charging of electric vehicles: DTE is working with electric vehicle (EV) manufacturers to optimize electric vehicle charging through the new DTE Smart Charge program. This program is intended to help the company balance the energy demand in the network and at the same time come closer to its environmental goal of achieving net CO2 emissions by 2050.
• Protected over 24,000 acres of Michigan's Upper Peninsula forests: DTE Gas has partnered with Bluesource, the country's largest carbon offset developer, on the Greenleaf Improved Forest Management project on Michigan's Upper Peninsula. The partnership is part of DTE's Natural Gas Balance, a voluntary customer program to neutralize greenhouse gas emissions through a combination of CO2 compensation and renewable natural gas.

Outlook for 2021

DTE Energy increases its EPS forecast for 2021 from $ 5.36 to $ 5.66 to $ 5.62 to $ 5.92.

"DTE's solid financial results for the first half of the year give us confidence to raise our profit guidance for 2021," said David Ruud, senior vice president and CFO of DTE Energy. "The results for the second quarter will be driven by strong performance in all of our businesses that provide a solid foundation for future success."

This profit announcement and presentation slides are available at dteenergy.com/investors.

The company will host a conference call at 9 a.m. ET to discuss earnings results. Investors, the news media and the general public will be able to follow the conference call live on the Internet at dteenergy.com/investors. Telephone dial-in numbers in the US and Canada are toll free: (833) 968-2209 or international: (778) 560-2895. The passcode is 7269806. The webcast will be archived on the DTE website at dteenergy.com/investors. An audio recording of the call will be available from noon today through noon on Friday, August 27th. To access the recording, dial the US and Canada toll free number (800) 585-8367 or international toll (416) 621-4642 and enter the passcode 7269806.

About DTE energy
DTE Energy (NYSE: DTE) is a diversified energy company based in Detroit that is involved in developing and managing energy-related businesses and services nationwide. The operating units include an electricity company with 2.2 million customers in southeast Michigan and a natural gas company with 1.3 million customers in Michigan. The DTE portfolio includes energy companies with a focus on electricity and industrial projects, renewable natural gas, and energy marketing and trading. As a leading environmental company, DTE utilities will reduce carbon dioxide and methane emissions by more than 80% by 2040 to produce cleaner energy while remaining safe, reliable and affordable. DTE Electric and Gas aims to achieve zero net CO2 and greenhouse gas emissions by 2050. DTE strives to serve with its energy through volunteering, education and employment initiatives, philanthropy and economic advancement. Information about DTE can be found at dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and facebook.com/dteenergy.

Use of Operating Profits Information – DTE Energy's management believes that operating profits are a more meaningful representation of the company's operating profits and uses operating profits as the primary performance indicator for external communications with analysts and investors. Internally, DTE Energy uses operating income to measure performance against budget and to report to the board of directors.

In this press release, DTE Energy explains its 2021 operating income guidance. It is likely that certain items that will affect the company's published results for 2021 will be excluded from operating results. Reconciliations to the comparable reported earnings forecast for 2021 are not made because a reliable forecast for individual items (i.e. future one-off items, certain market value adjustments and discontinued operations) is not possible. These items can fluctuate significantly from period to period and have a significant impact on the reported result.

The information contained herein is correct as of the date of this document. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this document as a result of new information or future events or developments. Words such as "anticipate," "believe," "expect," "may," "could," "would," "project", "strive", "plans" and "goals" mean forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but are subject to various assumptions, risks and uncertainties. This document contains forward-looking statements about DTE Energy's financial results and estimates of future prospects, and actual results could differ materially.

Many factors affect forward-looking statements including, but not limited to, the following: Risks associated with the DT Midstream spin-off, including that providing the previously negotiated transition services to DT Midstream could adversely affect our business and that the Transaction may not achieve some or all of the expected benefits; the duration and impact of the COVID-19 pandemic on DTE Energy and customers, the impact of regulation by the EPA, EGLE, FERC, MPSC, NRC and, for DTE Energy, CFTC and CARB, and other applicable government processes and regulations , including all related effects on tariff structures; the amount and timing of reimbursement permitted by government proceedings, related objections, or new laws, including legislative changes and retail access programs; economic conditions and population changes in our geographic area leading to changes in demand, customer retention and electricity theft and, for DTE Energy, natural gas; the failure of electricity or gas distribution systems or infrastructure; Effects of price volatility in international steel markets on DTE Energy's power and industrial project operations; the risk of a major security incident; Environmental issues, laws, regulations, and the rising costs of remediation and compliance, including current and potential new federal and state requirements; the cost of protecting assets against, or damage due to, cyber incidents and terrorism; Health, safety, financial, environmental and regulatory risks associated with owning and operating nuclear facilities; Volatility in commodity markets, weather changes and related risks that will affect the results of DTE Energy's energy trading business; Changes in the cost and availability of coal and other raw materials, purchased electricity and natural gas; Advances in technology that generate electricity, store electricity, or reduce electricity consumption; Changes in the financial position of major customers and strategic partners; the potential for losses on investments, including the decommissioning of nuclear power plants and pension assets and the associated increases in future expenses and contributions; Access to capital markets and the results of other funding efforts that may be influenced by ratings from rating agencies; Instability in capital markets that could affect the availability of short and long term financing; Time and extent of interest rate changes; the amount of borrowing; the potential for increased costs or delays in completing major capital projects; Changes and applications of state, state and local tax laws and their interpretations, including the Internal Revenue Code, regulations, decisions, litigation and audits; the effects of weather and other natural phenomena on operations and sales to customers and purchases from suppliers; unplanned outages; Employee relations and the effects of collective agreements; Availability, costs, coverage and terms and conditions and stability of insurance providers; Efforts to reduce costs and maximize the performance of facilities and distribution systems; the effects of competition; Changes and application of accounting standards and regulations; Changes to federal or state laws and the interpretation thereof relating to regulation, energy policy, and other business matters; Contractual disputes, binding arbitration, litigation and related appeals; and the risks discussed in DTE Energy's public filings with the Securities and Exchange Commission. New factors are added from time to time. We cannot predict what factors may occur or how these factors could cause results to differ materially from those in forward-looking statements. All forward-looking statements speak only as of the date on which these statements are made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such a statement is made or the occurrence of unforeseen events. This document should also be used in conjunction with the “Forward-Looking Statements” section of the DTE Energy and DTE Electric joint forms 2020 Form 10-K and 2021 Form 10-Q (sections of which are incorporated herein by reference) and in conjunction with other SECs. reports from DTE Energy and DTE Electric are read.

For more information, media representatives can call:
Pete Ternes, DTE Energy, 313.235.5555

For more information, analysts can call:
Barbara Tuckfield, DTE Energy, 313.235.1018
John Dermody, DTE Energy, 313.235.8750