Transforming For Our Future

Illinois Energy Transition Legislation ROE Earned vs. Allowed Equity ratio Rate Base Current Performance- Based Rates 5.80%+ average of 30-year treasury rate each calendar year Allowed Up to 50%; higher ratio must be approved by ICC Year-end Traditional Framework (Future Test Year) ICC determined Potential for regulatory lag in non- test years Subject to ICC approval Average Multi-Year Plan (IETL) ICC determined Allowed, if within True-up Cap¹ Up to 50%; higher ratio must be approved by ICC Year-end True-ups Sales Decoupled Annual, not capped Yes Performance Metrics Yes, penalties up to 38 bps Plan Filed None None Annual, capped at 105% with significant exclusions¹ Yes (rider) Yes (rider) No Yes, +/-20 to 60 bps; symmetrical incentives and penalties Four years One year Ameren 1 True-up Cap excludes variations from forecasted costs associated with major storms, new business and facility relocations, changes in timing of expenditures or investments which move the expenditure or investment into or out of the applicable calendar year, changes in interest rates, taxes (including income taxes and taxes other than income taxes), pension/OPEB and amortization of certain regulatory assets. True-up Cap excludes costs recovered through riders such as purchased power, transmission and bad debts. First Quarter 2022 Earnings | May 6, 2022 31

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