Transforming For Our Future

FERC Regulatory Matters Ameren Enhancing regulatory frameworks and advocating for responsible energy and economic policies Ameren Transmission . In Apr. 2021, FERC issued supplemental NOPR that would remove incentive adder for utilities that have been members of an RTO for three years or more - Current allowed base ROE of 10.02% (10.52% including 50 bps RTO participation adder) - 50 bps change in ROE impacts EPS by ~$0.05 annually • - Ameren filed comments opposing proposed removal of RTO incentive adder - Unable to predict the outcome or timing of FERC decision In July 2021, FERC issued Advance NOPR on range of topics including future regional transmission planning and cost allocation processes - - Ameren filed comments supporting current planning and cost allocation processes In April 2022, FERC issued proposed rules: • • . Long-term transmission planning to meet needs driven by changes in resource mix and demand Seek agreement regarding cost allocation of projects Incumbent utilities permitted right of first refusal to build transmission facilities selected in a regional plan for purposes of cost allocation, conditioned on the incumbent utility transmission provider establishing unaffiliated joint ownership of projects Unable to predict the outcome or timing of FERC decision First Quarter 2022 Earnings | May 6, 2022 29 29

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