Ameren (AEE) J.P. Morgan Natural Resources Conference presentation summary

Strategic vision and growth outlook

• Projects 6% to 8% EPS CAGR from 2026 to 2030, with a $70+ billion infrastructure investment pipeline through 2035 and a robust dividend growth outlook, targeting a payout ratio of 50% to 60% of annual EPS.

• Maintains strong investment grade credit ratings (Baa1/BBB+) and expects future dividend growth to align with long-term EPS growth.

• Focuses on investing in regulated energy infrastructure, enhancing regulatory frameworks, and optimizing operational performance to benefit customers, communities, and shareholders.

Financial performance and guidance

• Reaffirms 2026 diluted EPS guidance range of $5.25 to $5.45, with the midpoint representing an 8.1% increase over 2025 original guidance.

• Five-year rate base CAGR projected at 10.6%, with regulated infrastructure investments of $31.8 billion planned for 2026-2030.

• Dividend increased for the 13th consecutive year, with an annualized rate of $3.00 per share.

Operational and customer impact

• Serves 2.5 million electric and 0.9 million gas customers across Missouri and Illinois, with 9,700 MW of regulated electric generation capability.

• Residential rates remain below national and Midwest averages, with over $200 million invested annually in energy efficiency and demand response programs.

• Customer satisfaction averages 4.6 out of 5 stars, and the company supports over 55,000 jobs and $20.7 billion in economic impact.