Oge Energy Corp · NYSE:OGE

Oge Energy — Q2 2026 Earnings Presentation

14 slides from Oge Energy's earnings presentation, Jul 29, 2026

  1. Slide 1: Q2 2026 Earnings & Business Update Conference Call

    Q2 2026 Earnings & Business Update Conference Call July 29, 2026

  2. Slide 2: Safe harbor

    Safe harbor Some of the matters discussed in this presentation may contain forward looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "ex

  3. Slide 3: 2nd quarter financial highlights

    2nd quarter financial highlights $0.58 $0.56 Electric company EPS Consolidated EPS ($0.02) HoldCo EPS “Our focus on execution, customer protection and strategic investment is building momentum and positioning OG&E for the opportunities ahead.” Horseshoe Lake Units 11 and 12 currently under construct

  4. Slide 4: Advancing key regulatory and investment milestones

    Advancing key regulatory and investment milestones  August: Frontier Energy Storage order expected  September: Oklahoma Google Special Contract hearing 2026  Q3: Oklahoma Rate Review Next Steps  November: Oklahoma Extra Large Power & Light tariff hearing  Q3 – Q4: Multiple pre-approval filings

  5. Slide 5: Q2 earnings

    Q2 earnings Q2 2026 Q2 2025 Drivers • Warmer weather  OG&E $0.58 $0.53 • Lower depreciation and other interest expense  • O&M  • Interest expense  Other Operations/HoldCo $(0.02) - • Lower net other income due to a one-time legacy midstream benefit recognized in 2025 Consolidated $0.56 $0.53 •

  6. Slide 6: Momentum building through incremental investment

    Momentum building through incremental investment Pre-approval 2025 SPP ITP Capacity Needs  Frontier Energy Storage  Direct assigned significant portion of  ~1.8GW base generation remaining  300MW battery storage Seminole–Shreveport 765-kV line need identified in the IRP by winter  ~$394M build-

  7. Slide 7: Planned 2026 financing completed

    Planned 2026 financing completed  Completed $350 million issuance in 30-year long-term debt, 5.9% interest rate at OG&E in April  Forward equity sale agreements for approximately 4.6 million shares will settle prior to May 27, 2027 • No additional external equity required under current 5-year inve

  8. Slide 8: Updated slide coming

    Updated slide coming © 2026 OGE Energy Corp. | 8

  9. Slide 9: Appendix

    Appendix © 2026 OGE Energy Corp. | 9

  10. Slide 10: Strong credit ratings & balance sheet strength

    Strong credit ratings & balance sheet strength Credit Ratings Debt Maturity Schedule ($MM) Moody’s (Stable) Rating OGE Energy Senior Notes Baa1 $400 OGE Energy Commercial Paper P2 $350 $300 $300 S&P (Stable) Rating 6.65% OGE Energy Senior Notes BBB 6.50% OGE Energy Commercial Paper A2 $125 Fitch (St

  11. Slide 11: 5-Year investment plan

    5-Year investment plan ($MM) 2026 2027 2028 2029 2030 Five-Year Plan Transmission $200 $310 $305 $270 $240 $1,325 Oklahoma Distribution 585 705 725 775 825 3,615 Arkansas Distribution 45 25 25 25 25 145 Generation Reliability 245 160 165 165 165 900 New Generation Capacity Projects 180 190 165 65 -

  12. Slide 12: 2nd quarter 2026 weather impacts

    2nd quarter 2026 weather impacts Weather Variance Cooling Degree Days1 2026 2025 % Change Actuals 772 579 33% Normal 553 553 Variance from Normal 40% 5% Estimated 2026 normalized earnings per share impact of weather Q1 Q2 Q3 Q4 Total 2026 ($0.05) $0.03 ($0.02) 1. Degree days are calculated as follow

  13. Slide 13: OG&E leads in low rates and cost discipline

    OG&E leads in low rates and cost discipline Affordable Rates Cost Discipline Keeping Rates Affordable  Among the lowest retail rates in the nation1  Non-fuel rates have grown at a CAGR of 1.3%  Lowest commercial rates in the nation2  O&M per customer has grown at a CAGR of 0.76%  Lowest rates i

  14. Slide 14: Generation capacity

    Generation capacity Delivering 1.7 GW by 2029; Planning an additional 1.8 GW by 2032 Solar CPA: 40-120 accredited MW Frontier Battery: 300 MW HSL13/14 CTs: 448 MW RFP Capacity Availability 3/15/32 2026 2027 2028 2029 2030 2031 2032 Tinker CTs: 96 MW Solar CPA: 80-240 accredited MW HSL11/12 CTs: 448

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