QUANTUMONLINE.COM SECURITY DESCRIPTION:  Southern Co., Series A Equity Units stated amount $50 per unit, initially consisting of Corporate Units which includes a purchase contract issued by the Company and, initially, a 1/40 undivided beneficial ownership interest in $1,000 principal amount of Series 2019A Remarketable Junior Subordinated Notes due 8/1/2024 to be issued by the Company, and a 1/40 undivided beneficial ownership interest in $1,000 principal amount of Series 2019B Remarketable Junior Subordinated Notes due 8/1/2027 to be issued by the Company. The stock purchase contract requires the holder to purchase for $50 a variable number of shares of Southern Co. (NYSE: SO) common stock no later than 8/01/2022 and pays a contract adjustment rate of 4.05% per annum. The stock purchase settlement rate will be 0.7284 shares per unit if the then current market price is equal to or greater than $68.64 and 0.8741 shares per unit if the market price is equal to or less than $57.20. For market prices between those values the settlement rate will be $50 divided by the market value. The Series 2019A and Series 2019B Remarketable Junior Subordinated Notes will bear interest at the rate of 2.70% per year. On and after the purchase contract settlement date or, if earlier, the optional remarketing settlement date, interest on each Remarketable Junior Subordinated Notes will be payable at the relevant reset rate. If a remarketing is successful, interest on the Remarketable Junior Subordinated Notes thereafter will be payable semi-annually (see prospectus for more details). The Series 2019A Remarketable Junior Subordinated Note shall not be subject to optional redemption at any time. The Company may redeem the Series 2019B Remarketable Junior Subordinated Note at its option only if there has been a failed final remarketing. The Corporate Units pay quarterly distributions of 6.75% ($3.375) per annum on 2/1, 5/1, 8/1 & 11/1 to holders of record on the record date which is 15th day of the month immediately preceding the payment date. (NOTE: the ex-dividend date is one business day prior to the record date). Upon early settlement at the holder’s election in connection with a fundamental change will receive a number of shares of common stock per purchase contract equal to the fundamental change early settlement rate (see prospectus for further information).The holder has the right to convert the Corporate Units to Treasury Units by the substitution of a specified zero-coupon U.S. Treasury security for the Notes and to later recreate Corporate Units (See prospectus for more details). Distributions paid by these securities are derived from interest paid on the underlying debt securities and therefore are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. This security was rated as Baa3 by Moody’s and BBB by S&P at the date of its IPO. The Notes are unsecured, junior subordinated obligations of the company and will rank junior with all existing and future unsecured, subordinated indebtedness of the company.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Conversion Shares@Price	Distribution Dates	15% Tax Rate
NYSE Chart	Reset Rate $3.38	$50.00 N/A	8/01/2022 8/01/2022	NR NR 1/17/2022	0.7284@68.64+ 0.8741@57.20-	2/1, 5/1, 8/1 & 11/1 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

Company's Online Information Links

HOME PAGE:     https://www.southerncompany.com/
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Company's Email Address Links

Email Address	sagammil@southernco.com
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Address and Phone Numbers

Address:   30 Ivan Allen Jr. Boulevard, N.W., Atlanta, GA 30308
Main Phone Number	404-506-5000
Fax Number	Not Available
Investor Relations   Scott Gammill	404-506-0901
Toll Free Phone Number	866-762-6411

CEO - Thomas A. Fanning

CFO - Andrew W. (Drew) Evans