Slide 1: Lead Today. Transform Tomorrow.
Lead Today. Transform Tomorrow. First Quarter 2017 Earnings May 4, 2017
Slide 2: Cautionary Statements
Cautionary Statements Forward-looking Statements Statements in this presentation not based on historical facts are considered "forward-looking" and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking s
Slide 3: Business Update
Business Update Warner Baxter Chairman, President and Chief Executive Officer, Ameren Corp.
Slide 4: Earnings and Guidance Summary
Earnings and Guidance Summary Affirm 2017 Diluted EPS Guidance Range of • Remain on track to deliver within our 2017 earnings $2.65 EPS guidance range of $2.65 to $2.85 per share despite to $2.85 Q1 2016 vs. Q1 2017 very mild first quarter temperatures $0.43 • Key Q1 Earnings Variance Drivers $0.42
Slide 5: Business Update
Business Update Our Strategic Plan Capital Expenditures YTD March 31, 2017 • Investing in and operating our utilities in a manner consistent with ($ Millions) existing regulatory frameworks • Enhancing regulatory frameworks and advocating for responsible $78 energy and economic policies $56 • Creati
Slide 6: Business Update, cont’d
Business Update, cont’d Executing Our Strategic Plan, cont’d • Ameren Missouri ─ MoPSC approved constructive agreement concluding electric rate review ─ Proposed legislation: The Missouri Economic Development and Infrastructure Investment Act (SB 190) • Deferral between rate cases of depreciation on
Slide 7: Long-Term Total Return Outlook
Long-Term Total Return Outlook 2016 to 2021E Regulated 5-Yr Rate Executing Our Strategic Plan, cont’d Infrastructure Rate Base3 Base CAGR ─ Expect ~6% compound annual rate base growth ($ Billions) from 2016 through 20211 • Sustainable infrastructure investment pipeline for % of benefit of customers
Slide 8: Financial Update
Financial Update Marty Lyons Executive Vice President and Chief Financial Officer, Ameren Corp.
Slide 9: 2017 First Quarter Earnings Analysis
2017 First Quarter Earnings Analysis EPS Q1 2016 vs. Q1 2017 Key Earnings Variance Drivers: $0.43 $0.42 Higher Ameren Transmission earnings ─ Increased investments in infrastructure made under modern, constructive regulatory framework $0.11 $0.14 Higher Ameren Illinois Electric Distribution earnings
Slide 10: 2017 EPS Guidance and Select Balance of Year Considerations
2017 EPS Guidance and Select Balance of Year Considerations • Affirm 2017 diluted EPS guidance range of $2.65 to $2.85 • Very mild winter temperatures vs. normal expected to be offset by early resolution of Missouri rate 2017E Diluted EPS review and continued disciplined cost management • Q2-Q4 2017
Slide 11: Missouri Electric Rate Review
Missouri Electric Rate Review Unanimous Stipulation and Agreement approved by MoPSC March 8 • Increases annual base electric revenue requirement by $92 million ─ Removes negative effect of lower sales to New Madrid smelter • Decreases base level of net energy costs by $54 million annually, excluding
Slide 12: Select Pending Regulatory Matters
Select Pending Regulatory Matters Illinois Commerce Commission Federal Energy Regulatory Commission • Filed in April 2017 for required annual electric • Complaint cases seeking to reduce allowed distribution service formula rate update base ROE for Ameren Transmission Segment • Filed for $16 million
Slide 13: Summary
Summary Remain on track to deliver within our 2017 earnings guidance range of $2.65 to $2.85 Successfully executing our strategy Strong long-term growth outlook • Affirm 5% to 8% compound annual EPS growth from 2016 through 20201,2 • Expect 6% compound annual rate base growth from 2016 through 20212
Slide 14: Appendix
Appendix
Slide 15: Company Description and Ameren Segments
Company Description 2.4M electric Ameren Segments customers Fully rate-regulated electric Ameren Missouri and gas utility • Electric generation, transmission and distribution business 0.9M gas and a natural gas distribution business in Missouri regulated Corporate Headquarters customers by MoPSC Ele
Slide 16: Our Regulatory Frameworks
Our Regulatory Frameworks FERC-regulated: Formula ratemaking • Allowed ROE is 10.82%, which includes the MISO participation adder of 50 basis points Ameren • Rates reset each Jan. 1 based on forward-looking calculation with annual reconciliation Transmission • Constructive rate treatment for ATXI’s
Slide 17: Regional Multi-Value Projects and FERC-Regulated Transmission Investment
Regional Multi-Value Significant FERC-Regulated Projects Transmission Investment • Planned $2.8 billion investment – 2017-20211 ─ $0.6 billion of regional multi-value projects at ATXI ─ $2.2 billion of local reliability and connecting portions of regional multi-value projects at Ameren Illinois • To
Slide 18: Select Regulatory and Legislative Matters
Select Regulatory and Legislative Matters Missouri General Assembly / Missouri Public Service Commission • Senate Bill 190: http://www.senate.mo.gov/17info/BTS_Web/BillList.aspx?SessionType=R • 2016 electric rate review: Docket No. ER-2016-0179 • MoPSC order granting CCN for ATXI’s Mark Twain transm
Slide 19: Investor Relations Calendar
Investor Relations Calendar MAY 2017 SUN. MON. TUES. WED. THUR. FRI. SAT. 1 2 3 4 5 6 Q1 Quiet Q1 2017 Period, Earnings continued Release 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 AGA Conf. 28 29 30 31 May 4 Q1 2017 earnings release and call May 22 American Gas Association (AGA) Fi
Slide 20: Glossary of Terms and Abbreviations
Glossary of Terms and Abbreviations ALJ – Administrative Law Judge MWh – Megawatthour ATXI – Ameren Transmission Company of Illinois New Madrid smelter – New Madrid, Missouri aluminum smelter (formerly owned by Noranda Aluminum, Inc.) B – Billion OPEB – Other Post-Employment Benefits CAGR – Compound