At the time the spin-off becomes effective, each shareholder of Entergy stock will receive
shares of Entergy stock and Enexus stock. Both will be independent publicly traded shares. Shareholders will be free to hold or trade their shares as they wish and in accordance with their own investment plans. The market will determine value following completion of the split transactions. For publicly held securities, the proportion of the value assigned to Enexus and to Entergy will be set by the markets at the time of the spin, then current owners will receive value for each.