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DTE Energy: 3 • Overview • Long-Term Growth Update • Summary

The following excerpt is from the company's SEC filing.

DTE Energy’s growth is driven by strong, stable utilities and complementary non-utility businesses 4 DTE Electric Electric generation and distribution DTE Gas Natural gas transmission, storage and distribution Complementary Non-Utility Businesses Strong, Stable and Growing Utilities Fully Regulated by Michigan Public Service Commission Gas Storage & Pipelines Transport and store natural gas Power & Industrial Projects Own and operate energy related assets Energy Trading Generate economic value and provide strategic benefits ~80% of total earnings ~20% of total earnings < br>
Our system of priorities is fundamental to how we create value for our shareholders 5 5% - 6% Annual EPS Growth Attractive Dividend Strong Balance Sheet 5

Engaged employees focusing on improving our customers’ experiences have led to strong satisfaction results J.D. Power Rank vs. Midwest Peers Note: DTE Energy received the highest numerical score in the Midwest in the proprietary J.D. Power 2015 Gas Utility Business Customer Satisfaction Study SM. Based on 9,243 online interviews ranking 20 Midwest providers. Proprietary study results are based on experiences and perceptions of businesses surveyed 4/14-7/14 and 8/14-12/14. Your experiences may vary. Visit jdpower.com Residential Electric Residential Gas DTE Business Electric Business Gas 6 DTE DTE DTE

DTE’s continuous improvement capability has enabled us to lead the industry in cost management * Source: SNL Financial, FERC Form 1; major US Electric Utilities with O&M > $800 million; excluding fuel and purchased power ** Source: SNL Financial, FERC Form 2; gas distribution companies with > 300,000 customers; excluding production expense 2008 to 2014 Change in O&M Costs 83% DTE -3% Avg. 28% 80% DTE <1% Avg. 22% Electric Industry Peers* Gas Industry Peers** DTE has consistently ranked in the top of the peer group in cost control 7

Our 2015 operating EPS* guidance and 2016 early outlook midpoints provide solid growth 8 * Reconciliation to GAAP reported earnings included in the appendix (dollars per share) $3.33 $3.64 $3.75 $3.94 $4.09 $4.60 $2.12 $2.24 $2.35 $2.48 $2.62 $2.76 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Operating EPS Dividend Actuals Forecast $4.78 $4.69 5.8% increase $2.92 2015 Operating EPS Guidance Midpoint Total DTE Energy $4.78 Growth segments $4.69 $4.93 2016 Operating EPS Early Outlook Midpoint $4.93

DTE has consistently delivered total shareholder return above the peer average Source: Bloomberg (as of 9/30/15) 9 Total Shareholder Return 50% • Total return in top quartile of S&P 500 Utilities for 3, 5 and 10 years 3-YR 114% 177% 10-YR 5-YR S&P 500 Utilities DTE Energy 37% 75% 113% Top quartile

DTE Operating Earnings Growth Share Issuance Contingency DTE Operating EPS* Growth Non-Utilities 7% - 8% 5% - 6% * Reconciliation to GAAP reported earnings included in the appendix Strong growth opportunities coupled with contingency planning gives us confidence in our ability to deliver 5% to 6% operating EPS growth going forward 10 Non-Utilities Utilities Utilities

11 • Overview • Long-Term Growth Update • Summary

We will invest ~$13 billion in capital projects to drive growth through 2020 12 (billions) ~$13 $8.2 Distribution infrastructure, maintenance, new generation $1.6 Base investments, infrastructure renewal, NEXUS related $2.0-$2.6 Gathering investments, NEXUS, pipeline expansions $0.6-$0.9 Cogeneration, on-site energy 2016 – 2020 Current Plan 12 ~$11.5 2015 – 2019 Previous Plan P&I GSP Gas Electric

The EPA’s Clean Power Plan has set forth significant carbon reduction goals which will transform the electric industry The most transformational policy in the history of the electric industry Will cut CO2 emissions by 32% by 2030, compared to 2005 Initial compliance plans to be submitted by September 2016; final plans by September 2018 Initial compliance to begin 2022 with full compliance in 2030 13

Our generation mix shifts from coal to natural gas and renewables as we address the EPA’s Clean Power Plan 32% Coal Retirements 2030 Scenario ~6.7 2015 Gas / Renewables Additions ~2.2 ~2.2 ~12.3 (~3.5) ~25% 15%-30% ~15% Nuclear / Other Gas Renewables Coal ~1.2 30%-45% DTE Electric Capacity (GW) Note: Estimated amounts. Timing and mix of generation impacted by MISO capacity requirements and Michigan and EPA policies ~12 - 13 14 ~3.3 - 4.5

Lansing leaders are working toward constructive energy policy reform to enable this transformation 15 Clean 1 2 Reliable 4 Affordable 3 Flexible Governor Rick Snyder Valerie Brader Executive Director for the Michigan Agency for Energy Senator Mike Nofs Energy and Technology Committee Chair Representative Aric Nesbitt Energy Policy Committee Chair John Quackenbush MPSC Chair

Work is underway to finalize energy legislation 16 • House and Senate closely aligned • Key elements focus on: Retail open access and capacity requirements  Integrated resource planning Renewable energy and energy efficiency Oct/Nov Nov/Dec December Revisions of committee proposals Vote on proposals Governor’s signature of bill Potential timing

Electric generation and infrastructure renewal will significantly increase investment in the decade ahead 32% DTE Electric Total Investment ~$8.2 ~$9.7 2016-2020 2021-2025 ~$7.1 2011-2015 New generation (billions) Distribution infrastructure 17 Maintenance and other projects

We enter this period of heavy investment with sharp declines in business rates 18 15%* Large Industrial Customers 9%* Commercial Customers • $600 million of surcharge reductions in 2014 and 2015 • Business cost of service rates implemented in 2015 • These reductions are after $230 million July self- implementation • Additional rate reductions in January 2016 with $100 million PSCR** reduction * Average rate reduction from 2013 through 2015 self-implementation ** Power Supply Cost Recovery

Investment in our gas utility will increase significantly over the next 5 years 19 2011-2015 2016-2020 ~$1.1 ~$1.6 DTE Gas Total Investment (billions) Base infrastructure Infrastructure renewal NEXUS related

The DTE Gas system will be expanded to support the proposed NEXUS interconnection • $200 million of NEXUS related investment at DTE Gas through 2017 • Spend primarily for additional compression • Supported by long-term transport agreement with NEXUS DTE Gas service area NEXUS DTE Gas 20

Expanding main replacement to 160 miles per year would cut the planned renewal...


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