Oge Energy Corp · NYSE:OGE

Oge Energy — Q1 2026 Earnings Presentation

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

  1. Slide 1: Q1 2026 Earnings & Business Update Conference Call

    Q1 2026 Earnings & Business Update Conference Call April 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: 1st quarter financial highlights

    1st quarter financial highlights $0.28 $0.24 Electric company EPS Consolidated EPS ($0.04) HoldCo EPS “We’re executing our plan with discipline — propelling community growth, maintaining our low rates, and investing in the infrastructure our customers and communities will rely on for years to come.”

  4. Slide 4: Advancing key regulatory and investment milestones

    Advancing key regulatory and investment milestones • OG&E will serve three previously announced Google (formerly “Customer X” in the IRP) data centers in Stillwater and Muskogee • Regulatory filing expected in the coming days 2026 Next Steps • Large-load tariff no later than July 1 • Oklahoma rate r

  5. Slide 5: Building a longer investment runway

    Building a longer investment runway Pre-approval 2025 SPP ITP Capacity Needs  Frontier Energy Storage  Direct assigned significant portion of  ~1.9GW base generation need Seminole–Shreveport 765-kV line identified in the IRP by winter  300MW battery storage  Additional transmission and 2031/203

  6. Slide 6: 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

  7. Slide 7: 1st quarter earnings

    1st quarter earnings Q1 2026 Q1 2025 Drivers • Milder weather  OG&E $0.28 $0.35 • O&M  • Lower depreciation and other interest expense  Other Operations/HoldCo $(0.04) $(0.04) • Interest expense  Consolidated $0.24 $0.31 • Affirming consolidated earnings guidance of $2.43 per share, within a ran

  8. Slide 8: 2026 financing plan update

    2026 financing plan update  Completed the issuance of $350 million in 30-year long- term debt at a 5.9% interest rate at the electric company in April  Forward equity sale agreements for approximately 4.6 million shares will be settled prior to May 27, 2027 • No additional external equity required

  9. Slide 9: Updated slide coming

    Updated slide coming © 2026 OGE Energy Corp. | 9

  10. Slide 10: Appendix

    Appendix © 2026 OGE Energy Corp. | 10

  11. Slide 11: 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

  12. Slide 12: 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 -

  13. Slide 13: 1st quarter 2026 weather impacts

    1st quarter 2026 weather impacts Weather Variance Heating Degree Days1 2026 2025 % Change Actuals 1,383 1,900 (27%) Normal 1,889 1,889 Variance from Normal (27%) 1% Estimated 2026 normalized earnings per share impact of weather Q1 Q2 Q3 Q4 Total 2026 ($0.05) ($0.05) 1. Degree days are calculated as

  14. Slide 14: OG&E is a leader in low rates and cost discipline

    OG&E is a leader 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 r

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