Net income (loss) attributable to EFH Corp.

Income tax expense (benefit)

Interest expense and related charges

Depreciation and amortization

EBITDA

Oncor EBITDA

Oncor Holdings distributions

Interest income

Amortization of nuclear fuel

Purchase accounting adjustments (a)

Impairment of goodwill

Impairment of assets and inventory write down (b)

Net gain on debt exchange offers

Net income attributable to noncontrolling interests

Equity in earnings of unconsolidated subsidiary

EBITDA amount attributable to consolidated unrestricted subsidiaries

Unrealized net (gain) loss resulting from hedging transactions

Amortization of “day one” net loss on Sandow 5 power purchase agreement

Losses on sale of receivables

Noncash compensation expenses (c)

Severance expense

Transition and business optimization costs (d)

Transaction and merger expenses (e)

Restructuring and other (f)

Expenses incurred to upgrade or expand a generation station (g)

Adjusted EBITDA per Incurrence Covenant

Add Oncor Adjusted EBITDA (reduced by Oncor Holdings distributions)

Adjusted EBITDA per Restricted Payments Covenant

(a)

Purchase accounting adjustments include amortization of the intangible net asset value of retail and wholesale power sales agreements, environmental credits, coal purchase contracts, nuclear fuel contracts and power purchase agreements and the stepped up value of nuclear fuel. Also include certain credits not recognized in net income due to purchase accounting.

(b)

Impairment of assets includes impairments of land and charges related to the cancelled development of coal-fueled generation facilities.

(c)

Noncash compensation expenses represent amounts recorded under stock-based compensation accounting standards and exclude capitalized amounts.

(d)

Transition and business optimization costs include incentive compensation expenses and professional fees primarily for retail billing and customer care systems enhancements.

(e)

Transaction and merger expenses include costs related to the Merger and abandoned strategic transactions, the Sponsor Group management fee, outsourcing transition costs, administrative costs related to the cancelled program to develop coal-fueled generation facilities and costs related to certain growth initiatives.

(f)

Restructuring and other includes gains on termination of a long-term power sales contract and settlement of amounts due from a hedging/trading counterparty, and reversal of certain liabilities accrued in purchase accounting.

(g)

Expenses incurred to upgrade or expand a generation station reflect noncapital outage costs.