Stakeholder Meeting 2016 Projection Review

2016 Attachment O Projection Stakeholder Meeting Ameren Illinois Company September 24, 2015

AGENDA Main Purpose is to review AIC 2016 Projected Transmission Rate Calculations Timeline AIC 2016 Projected Calculations Attachment O Attachment GG Attachment MM 2016 AMIL Pricing Zone NITS Charge 2

NEW PROTOCOL TIMELINE Schedule Date (Forward-Looking Protocols) June 1 Posting of annual true-up for prior year September 1 September 1 October 15 November 1 March 15 Deadline for annual true-up meeting Posting of net projected revenue requirement for following year Deadline for annual projected rate meeting Deadline for joint meeting on regional cost-shared projects Transmission Owners submit informational filing to the Commission 3

AIC Revenue Requirement Projected 2015 vs Projected 2016 4

AIC 2016 PROJECTED RATE BASE Jan-15 1,597,243,472 480,701,771 1,116,541,701 Jan-16 1,938,342,678 502,413,116 1,435,929,562 Change 341,099,206 21,711,345 319,387,860 Percent 21% 5% 29% Page.Line 2.6 2.12 2.18 Total Gross Plant Total Accum Depreciation TOTAL NET PLANT 2.18a 100% CWIP RECOVERY 27,739,705 42,507,018 14,767,313 53% ADJUSTMENTS TO RATE BASE Account No. 282 Account No. 283 Account No. 190 Account No. 255 Land Held for Future Use CWC Materials & Supplies Prepayments TOTAL ADJUSTMENTS 0 N/A 29% -76% 8% N/A 95% 6% 20% -3% 23% 2.20 2.21 2.22 2.23 2.25 2.26 2.27 2.28 -285,677,648 -25,147,591 38,348,097 -368,700,067 -6,071,756 41,586,396 -83,022,419 19,075,835 3,238,299 0 0 0 1,209,908 5,525,584 10,110,433 1,538,083 -254,093,135 2,363,868 5,834,598 12,101,199 1,491,166 -311,394,596 1,153,960 309,014 1,990,766 -46,917 -57,301,462 2.30 TOTAL RATE BASE 890,188,272 1,167,041,984 276,853,712 31% 5

AIC 2016 PROJECTED EXPENSES Jan-15 Jan-16 Change Percent Page.Line O&M Transmission Less LSE Expenses Less Account 565 A&G Less FERC Annual Fees Less EPRI, ect. Plus Trans. Reg. Comm. Exp TOTAL O&M 3.1 3.1a 3.2 3.3 3.4 3.5 3.5a 3.8 41,012,814 1,685,383 9,206,193 14,085,792 47,078,280 1,495,616 13,231,075 14,176,890 6,065,466 -189,767 4,024,882 91,098 15% -11% 44% 1% N/A 2% 44% 6% 0 0 0 356,844 354,483 44,204,670 362,566 510,870 46,676,783 5,722 156,386 2,472,114 3.12 TOTAL DEPRECIATION 28,851,740 35,645,227 6,793,487 24% TAXES Payroll Property Other Income Taxes TOTAL TAXES 3.13 3.16 3.18 3.27 944,247 1,132,036 378,748 39,706,388 42,161,419 892,102 1,216,554 421,926 50,317,510 52,848,091 -52,145 84,517 43,178 10,611,122 10,686,672 -6% 7% 11% 27% 25% TOTAL EXPENSES 115,217,829 135,170,102 19,952,273 17% 6

AIC 2016 PROJECTED CAPITAL STRUCTURE Capital Structure - 2015 Projection $ % Cost Weighted 0.0267 0.0006 0.0666 0.0939 Page.Line 4.27 4.28 4.29 4.3 Long Term Debt Preferred Stock Common Stock Total 2,210,270,314 61,721,350 2,646,273,821 4,918,265,485 44.9% 1.3% 53.8% 100.0% 0.0594 0.0490 0.1238 Capital Structure - 2016 Projection $ % Cost Weighted 0.0267 0.0006 0.0643 0.0916 Page.Line 4.27 4.28 4.29 4.3 Long Term Debt Preferred Stock Common Stock Total 2,436,021,670 61,721,350 2,698,856,348 5,196,599,368 46.9% 1.2% 51.9% 100.0% 0.0570 0.0490 0.1238 Change in Return -0.2323% 7

AIC 2016 PROJECTED TOTAL REVENUE REQUIREMENT Jan-15 890,188,272 Jan-16 1,167,041,984 Change 276,853,712 -0.23% 23,293,711 Percent 31% -2% 28% Page.Line 2.30 4.30 3.28 TOTAL RATE BASE Rate of Return Return 9.39% 9.16% 83,616,156 106,909,867 Total Expenses TOTAL GROSS REV. REQ. 115,217,829 198,833,985 135,170,102 242,079,969 19,952,273 43,245,984 17% 22% 3.29 3.30 3.30a 3.31 Less ATT. GG Adjustment Less ATT. MM Adjustment GROSS REV. REQ. UNDER ATT. O 10,174,129 5,684,131 182,975,725 14,763,974 11,937,011 215,378,985 4,589,845 6,252,879 32,403,260 45% 110% 18% 8

AIC 2016 PROJECTED TRUE UP & NET REVENUE REQUIREMENT Jan-15 182,975,725 12,163,781 Jan-16 215,378,985 13,373,302 Change 32,403,260 1,209,521 Percent 18% 10% Page.Line 1.1 1.6 Gross Revenue Requirement Total Revenue Credits 1.6a 1.6b 1.6c 1.6d 1.6e Historic Year Actual ATRR Projected ATRR from Prior Year Prior Year ATRR True-Up Prior Year Divisor True-Up Interest on Prior Year True-Up 123,689,426 133,507,911 -9,818,485 -822,872 -691,603 153,102,512 143,000,924 10,101,588 -3,254,838 43,217 29,413,086 9,493,013 19,920,073 -2,431,966 734,820 24% 7% -203% 296% -106% 1.7a 1.7b 1.7 NET REVENUE REQUIREMENT Prairie Power AIC Adjusted Revenue Requirement 159,478,984 208,895,649 49,416,665 31% N/A 31% 0 0 0 159,478,984 208,895,649 49,416,665 9

AIC 2014 ATTACHMENT O TRUE UP Ameren Illinois Company - AIC Attachment O Revenue Requirement True-Up Year Ended December 31, 2014 Attachment O Net Actual Revenue Requirement (2014 Actual Attachment O, Pg 1, Line 7a) $ 153,102,512 Net Projected Revenue Requirement (2014 Projected Attachment O, Pg 1, Line 7a) $ 143,000,924 Under/(Over) Recovery of Net Revenue Requirement $ 10,101,588 Historic Year Actual Divisor for Pricing Zone (2014 Actual Attachment O, Pg 1, Line 15) Projected Year Divisor for Pricing Zone (2014 Projected Attachment O, Pg 1, Line 15) Difference between Historic & Projected Yr Divisor Prior Year Projected Annual Cost ($ per kw per yr) Prior Year Under/(Over) Divisor True-up 7,205,351 7,045,000 160,351 20.2982 (3,254,838) $ $ Total Under/(Over) Recovery $ 6,846,750 Monthly Interest Rate (updated through July, 2015) Interest For 24 Months 0.0263% 43,217 $ Total Under/(Over) Recovery Including Interest $ 6,889,966 10

AIC 2016 PROJECTED ATTACHMENT GG AIC Attachment GG Calculation - Page 1 (1) (2) (3) (4) Attachment O Page, Line, Col. Line No. Transmission Allocator 1 Gross Transmission Plant - Total Attach O, p 2, line 2 col 5 (Note A) 1,917,040,601 2 Net Transmission Plant - Total Attach O, p 2, line 14 and 23b col 5 (Note B) 1,436,058,340 O&M EXPENSE Total O&M Allocated to Transmission 3 Attach O, p 3, line 8 col 5 46,676,783 4 Annual Allocation Factor for O&M (line 3 divided by line 1 col 3) 2.43% 2.43% GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE 5 6 Total G&C Depreciation Expense Annual Allocation Factor for G&C Depreciation Expense Attach O, p 3, lines 10 & 11, col 5 (Note H) (line 5 divided by line 1 col 3) 4,409,668 0.23% 0.23% TAXES OTHER THAN INCOME TAXES Total Other Taxes Annual Allocation Factor for Other Taxes 7 8 Attach O, p 3, line 20 col 5 (line 7 divided by line 1 col 3) 2,530,581 0.13% 0.13% 9 Annual Allocation Factor for Expense Sum of line 4, 6, and 8 2.80% INCOME TAXES Total Income Taxes Annual Allocation Factor for Income Taxes 10 11 Attach O, p 3, line 27 col 5 (line 10 divided by line 2 col 3) 50,317,510 3.50% 3.50% RETURN Return on Rate Base Annual Allocation Factor for Return on Rate Base 12 13 Attach O, p 3, line 28 col 5 (line 12 divided by line 2 col 3) 106,909,867 7.44% 7.44% 14 Annual Allocation Factor for Return Sum of line 11 and 13 10.95% 11

AIC 2016 PROJECTED ATTACHMENT GG AIC Attachment GG Calculation - Page 2 (1) (2) (3) (4) (5) (6) MTEP Project Number Annual Allocation Factor for Expense Project Gross Plant Annual Expense Charge Line No. Project Name Project Net Plant (Note C) (Page 1 line 9) (Col. 3 * Col. 4) (Note D) 1a 1b 1c 1d 1e 1f Wood River-Roxford 1502 138kV line Sidney-Paxton 138kV Reconductor 18 miles Coffeen Plant-Coffeen, North - 2nd. Bus tie Latham - Oreana 8.5 mile 345kV line Brokaw - South Bloomington 345/138kV Transformer & line extension Fargo-Mapleridge-20 mile 345kV line & New Sub 728 $ 3,424,487 870 $ 5,994,479 2829 $ 5,592,558 2068 $ 23,567,231 2069 $ 29,776,042 2472 $ 30,285,967 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% $95,778.27 $ 2,941,428 $167,657.47 $ 5,095,420 $156,416.28 $ 5,046,129 $659,143.57 $ 22,559,921 $832,795.62 $ 29,271,494 $847,057.53 $ 30,149,872 (1) (2) (7) (8) (9) (10) (11) (12) Annual Allocation Factor for Return MTEP Project Number Annual Return Charge Project Depreciation Expense Annual Revenue Requirement True-Up Adjustment Network Upgrade Charge Line No. Project Name Sum Col. 10 & 11 (Note G) (Page 1 line 14) (Col. 6 * Col. 7) (Note E) (Sum Col. 5, 8 & 9) (Note F) 1a 1b 1c 1d 1e 1f Wood River-Roxford 1502 138kV line Sidney-Paxton 138kV Reconductor 18 miles Coffeen Plant-Coffeen, North - 2nd. Bus tie Latham - Oreana 8.5 mile 345kV line Brokaw - South Bloomington 345/138kV Transformer & line extension Fargo-Mapleridge-20 mile 345kV line & New Sub 728 870 2829 2068 2069 2472 10.95% 10.95% 10.95% 10.95% 10.95% 10.95% $322,043.33 $557,873.94 $552,477.30 $2,469,981.27 $3,204,800.32 $3,300,969.87 $52,500 $99,720 $98,904 $398,220 $477,312 $470,323 $470,321.60 $ (20,657) $825,251.41 $ (45,173) $807,797.58 $ (2,536) $3,527,344.85 $ 262,869 $4,514,907.94 $ - $4,618,350.76 $ - 449,665 780,078 805,262 3,790,214 4,514,908 4,618,351 2 Annual Totals $14,763,974 $194,503 $14,958,477 3 Rev. Req. Adj For Attachment O $14,763,974 12

AIC 2014 ATTACHMENT GG TRUE-UP AIC 2014 Attachment GG True Up (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) Actual Projected Annual Revenue Attachment GG Revenues Allocated Actual Annual Revenue True-Up Adjustment Principal Applicable Interest Rate on True-Up Adjustment Interest MTEP Project Actual Total True-Up Line Project Attachment GG Requirement 1 Projected Attachment GG to Projects 1 [Col. (d), line 1 x (Col. (e), line 2x / Requirement 1 Actual Attachment GG No. Name Number Revenues Under/(Over) Under/(Over) Under/(Over) Adjustment Col. (h) x Col. (i) p 2 of 2, Col. 102 Col. (e), line 3)]2 p 2 of 2, Col. 102 x 24 months 2 Col. (g) - Col. (f) Line 5 Col. (h) + Col. (j) 1 Actual Attachment GG revenues for True-Up Year 1 $ 5,755,759 2a Wood River-Roxford 1502 138kV line 728 527,494 545,315 524,788 (20,527) 0.0263% (130) (20,657) 2b Sidney-Paxton 138kV Reconductor 18 miles 2c Coffeen Plant-Coffeen, North - 2nd. Bus tie 2d Latham - Oreana 8.5 mile 345kV line 2e Brokaw-S. Bloom 345/138kV Trans & 345kV line 2f Fargo-Mapleridge-20 mile 345kV line & New Sub 870 2829 2068 2069 2472 935,340 873,483 3,231,345 966,939 902,993 3,340,512 922,049 900,473 3,601,732 (44,890) (2,520) 261,220 0.0263% 0.0263% 0.0263% 0.0263% 0.0263% (283) (16) 1,649 (45,173) (2,536) 262,869 - - - - - - - - - - - - 3 Subtotal $ 5,567,662 $ 5,755,759 $ 5,949,042 4 Under/(Over) Recovery $ 193,283 $ 1,220 $ 194,503 5 Applicable Interest rate per month (expressed to four decimal places) Interest Rate updated through July 2015 0.0263% 1 Amount excludes True-Up Adjustment, as reported in True-Up Year projected Attachment GG, page 2, column 11. 2 Rounded to whole dollars. 13

AIC 2016 PROJECTED ATTACHMENT MM AIC Attachment MM Calculation - Page 1 (1) (2) (3) (4) Attachment O Page, Line, Col. Line No. Transmission Allocator 1 1a 2 Gross Transmission Plant - Total Transmission Accumulated Depreciation Net Transmission Plant - Total Attach O, p 2, line 2 col 5 (Note A) Attach O, p 2, line 8 col 5 Line 1 minus Line 1a (Note B) 1,917,040,601 480,982,260 1,436,058,340 O&M TRANSMISSION EXPENSE Total O&M Allocated to Transmission Transmission O&M Less: LSE Expenses included in above, if any Less: Account 565 included in above, if any Adjusted Transmission O&M 3 3a 3b 3c 3d Attach O, p 3, line 8 col 5 Attach O, p 3, line 1 col 5 Attach O, p 3, line 1a col 5, if any Attach O, p 3, line 2 col 5, if any Line 3a minus Line 3b minus Line 3c 46,676,783 47,078,280 1,495,616 13,231,075 32,351,589 4 (Line 3d divided by line 1a, col 3) Annual Allocation Factor for Transmission O&M 6.73% 6.73% OTHER O&M EXPENSE Other O&M Allocated to Transmission Annual Allocation Factor for Other O&M 4a 4b Line 3 minus Line 3d Line 4a divided by Line 1, col 3 14,325,194 0.75% 0.75% GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE Total G&C Depreciation Expense Annual Allocation Factor for G&C Depreciation Expense 5 6 Attach O, p 3, lines 10 & 11, col 5 (Note H) (line 5 divided by line 1 col 3) 4,409,668 0.23% 0.23% TAXES OTHER THAN INCOME TAXES Total Other Taxes Annual Allocation Factor for Other Taxes 7 8 Attach O, p 3, line 20 col 5 (line 7 divided by line 1 col 3) 2,530,581 0.13% 0.13% 9 Annual Allocation Factor for Other Expense Sum of line 4b, 6, and 8 1.11% 1.11% INCOME TAXES Total Income Taxes Annual Allocation Factor for Income Taxes 10 11 Attach O, p 3, line 27 col 5 (line 10 divided by line 2 col 3) 50,317,510 3.50% 3.50% RETURN Return on Rate Base Annual Allocation Factor for Return on Rate Base 12 13 Attach O, p 3, line 28 col 5 (line 12 divided by line 2 col 3) 106,909,867 7.44% 7.44% 14 Annual Allocation Factor for Return Sum of line 11 and 13 10.95% 14

AIC 2016 PROJECTED ATTACHMENT MM AIC Attachment MM Calculation - Page 2 (1) (2) (3) (4) (5) (6) (7) (8) Other Expense Annual Allocation Factor MTEP Project Number Project Accumulated Depreciation Transmission O&M Annual Allocation Factor Annual Allocation for Transmission O&M Expense Line No. Project Gross Plant Annual Allocation for Other Expense Project Name (Note C) Page 1 line 4 (Col 4 * Col 5) Page 1 line 9 (Col 3 * Col 7) Multi-Value Projects (MVP) 1a Pana-Sugar Creek - CWIP 1b Pana-Sugar Creek - Plant in Service 1c Pana-Sugar Creek - Land 1d Sidney-Rising - CWIP 1e Sidney-Rising - Plant in Service 1f Palmyra-Pawnee - CWIP 1g Palmyra-Pawnee - Plant in Service 1h Fargo-Galesburg-Oak Grove - CWIP 1i Fargo-Galesburg-Oak Grove - Plant in Service 1j Pawnee-Pana - CWIP 1k Pawnee-Pana - Plant in Service 2237 2237 2237 2239 2239 3017 3017 3022 3022 3169 3169 $ 18,938,437 $ 20,602,126 $ 15,627 $ 301,094 $ 5,981,345 $ 14,184,258 $ 17,212,417 $ 204,390 $ 3,184,794 $ 8,878,841 $ 3,406,077 $ - $ 190,724 $ - $ - $ 63,770 $ - $ 337,918 $ - $ 30,923 $ - $ 12,204 6.73% $ - 6.73% $ 12,828 6.73% $ - 6.73% $ - 6.73% $ 4,289 6.73% $ - 6.73% $ 22,729 6.73% $ - 6.73% $ 2,080 6.73% $ - 6.73% $ 821 1.11% $ 210,081 1.11% $ 228,536 1.11% $ 173 1.11% $ 3,340 1.11% $ 66,350 1.11% $ 157,344 1.11% $ 190,935 1.11% $ 2,267 1.11% $ 35,328 1.11% $ 98,492 1.11% $ 37,783 (1) (2) (9) (10) (11) (12) (13) (14) (15) (16) MTEP Project Number Annual Project Depreciation Expense MVP Annual Adjusted Revenue Requirement Sum Col. 14 & 15 (Note G) Line No. Annual Expense Charge Project Net Plant Allocation Factor for Return Annual Return Charge Annual Revenue Requirement (Sum Col. 9, 12 & 13) True-Up Adjustment Project Name (Col 6 + Col 8) (Col 3 - Col 4) (Page 1 line 14) (Col 10 * Col 11) (Note E) (Note F) Multi-Value Projects (MVP) 1a Pana-Sugar Creek - CWIP 1b Pana-Sugar Creek - Plant in Service 1c Pana-Sugar Creek - Land 1d Sidney-Rising - CWIP 1e Sidney-Rising - Plant in Service 1f Palmyra-Pawnee - CWIP 1g Palmyra-Pawnee - Plant in Service 1h Fargo-Galesburg-Oak Grove - CWIP 1i Fargo-Galesburg-Oak Grove - Plant in Service 1j Pawnee-Pana - CWIP 1k Pawnee-Pana - Plant in Service 2237 2237 2237 2239 2239 3017 3017 3022 3022 3169 3169 $ 210,081 $ 241,365 $ 173 $ 3,340 $ 70,639 $ 157,344 $ 213,664 $ 2,267 $ 37,408 $ 98,492 $ 38,604 $ 18,938,437 $ 20,411,401 $ 15,627 $ 301,094 $ 5,917,575 $ 14,184,258 $ 16,874,498 $ 204,390 $ 3,153,872 $ 8,878,841 $ 3,393,874 10.95% $ 2,073,482 10.95% $ 2,234,750 10.95% $ 1,711 10.95% $ 32,965 10.95% $ 647,888 10.95% $ 1,552,969 10.95% $ 1,847,511 10.95% $ 22,378 10.95% $ 345,303 10.95% $ 972,103 10.95% $ 371,580 $ - $ 315,008 $ - $ - $ 107,339 $ - $ 243,379 $ - $ 43,748 $ - $ 51,521 $ 2,283,563 $ 2,791,122 $ 1,884 $ 36,305 $ 825,866 $ 1,710,313 $ 2,304,553 $ 24,645 $ 426,459 $ 1,070,595 $ 461,704 $ 102,017 $ 4,466 $ 1,527 $ 12,200 $ - $ 829,982 $ 263,842 $ 9 $ - $ 3,177 $ - $ 2,385,580 $ 2,795,588 $ 3,411 $ 48,505 $ 825,866 $ 2,540,295 $ 2,568,395 $ 24,654 $ 426,459 $ 1,073,772 $ 461,704 2 MVP Total Annual Revenue Requirements $11,937,011 $1,217,220 $13,154,231 3 Rev. Req. Adj For Attachment O $11,937,011 15

AIC 2014 ATTACHMENT MM TRUE-UP AIC 2014 Attachment MM True Up (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) Actual Projected Annual Revenue Requirement 1 Projected Attachment MM p 2 of 2, Col. 142 Attachment MM Revenues Allocated to Projects 1 [Col. (d), line 1 x (Col. (e), line 2x / Col. (e), line 3)]2 Actual Annual Revenue Requirement 1 Actual Attachment MM p 2 of 2, Col. 142 True-Up Adjustment Principal Under/(Over) Applicable Interest Rate on Under/(Over) True-Up Adjustment Interest Under/(Over) MTEP Project Number Actual Total True-Up Adjustment Line No. Project Name Attachment MM Revenues Col. (h) x Col. (i) x 24 months 2 Col. (g) - Col. (f) Line 5 Col. (h) + Col. (j) 1 Actual Attachment MM revenues for True-Up Year 1 $ - 2a Pana-Sugar Creek - CWIP 2b Pana-Sugar Creek - Plant in Service 2c Pana-Sugar Creek - Land 2d Sidney-Rising - CWIP 2e Sidney-Rising - Plant in Service 2f Palmyra-Pawnee - CWIP 2g Palmyra-Pawnee - Plant in Service 2h Fargo-Galesburg-Oak Grove - CWIP 2i Fargo-Galesburg-Oak Grove - Plant 2j Pawnee-Pana - CWIP 2k Pawnee-Pana - Plant in Service 2237 2237 2237 2239 2239 3017 3017 3022 3022 3169 3169 - - - - - - - - - - - - - - - - - - - - - - 101,377 4,438 1,517 12,123 101,377 4,438 1,517 12,123 0.0263% 0.0263% 0.0263% 0.0263% 0.0263% 0.0263% 0.0263% 0.0263% 0.0263% 0.0263% 0.0263% 640 28 10 77 - 5,206 1,655 102,017 4,466 1,527 12,200 - - - 824,776 262,187 824,776 262,187 829,982 263,842 9 9 - - 20 - 9 - - - 3,157 3,157 3,177 - - - 3 Subtotal $ - $ - $ 1,209,584 4 Under/(Over) Recovery $ 1,209,584 $ 7,636 $ 1,217,220 5 Applicable Interest rate per month (expressed to four decimal places) Interest Rate updated through July 2015 0.0263% Amount excludes True-Up Adjustment, as reported in True-Up Year projected Attachment MM, page 2, column 15. Rounded to whole dollars. 1 2 16

AMIL PRICING ZONE SCHEDULE 9 CHARGE Jan-15 159,478,984 9,851,594 3,863,036 173,193,614 7,095,335 24.410 Jan-16 208,895,649 8,495,791 4,421,778 221,813,218 7,118,197 31.161 Change 49,416,665 -1,355,803 558,742 48,619,604 22,861 6.752 0.563 Percent 31% -14% 14% 28% 0% 28% 28% Page.Line 1.7 1.7 1.7 AIC Adjusted Revenue Requirement ATXI Adjusted Revenue Requirement PPI Adjusted Revenue Requirement * Total Revenue Requirement Ameren Illinois Divisor Annual Cost ($/kW/Yr) Network & P-to-P Rate ($/kW/Mo) 1.15 . . 2.034 2.597 * PPI uses a historical Attachment O which is updated June 1st each year. The amount shown for 2015 is the ATRR revised in effective 6/1/14. The amount shown for 2016 is the ATRR effective 6/1/15. PPI has filed at FERC to begin using forward looking Attachment O effective 1/1/16. However, the new ATRR is not posted yet. 17

AIC 2016 PROJECTED MVP SPEND Ameren MVPs Ameren Name 2016 CAPEX MTEP #s MTEP Description 2237 2239 3017 3169 Pana - Mt. Zion - Kansas - Sugar Creek 345 kV line Sidney to Rising 345 kV line Palmyra-Quincy-Meredosia - Ipava & Meredosia-Pawnee 345 kV Line Pawnee to Pana - 345 kV Line Illinois Rivers $53.1 million 3022 Fargo-Galesburg-Oak Grove 345 kV Line Spoon River $.9 million 18

2016 PROJECTED SIGNIFICANT TRANSMISSION PROJECTS Project Name Illinois Rivers Fargo - Mapleridge Pinckneyville - West Frankfort Grand Tower - Makanda Cahokia - Buck Knob Sidney - Bunsonville Macomb West Tap Brokaw - Gibson City Jacksonville NW - Meredosia Keemin Substation Effingham - Neoga S. Baldwin - Prairie State Madison Industrial - Madison State S. Belleville - Tilden Gibson City - Paxton Total Cost $68.0 $56.4 $16.6 $15.8 $13.4 $12.0 $11.7 $9.6 $8.0 $7.4 $6.7 $6.0 $5.8 $5.3 $5.1 19

QUESTIONS?

Appendix Supplemental Background Information (Not covered during presentation) 21

APPENDIX AMIL PRICING ZONE Both AIC and ATXI are transmission owning subsidiaries of Ameren Corporation, as well as a MISO Transmission Owners (TOs) AIC will continue to build and own traditional reliability projects ATXI is in the process of building and will own new regional transmission projects Prairie Power, Inc. became a TO in the AMIL pricing zone effective June 1, 2013. The sum of all there Attachment O net revenue requirements equals the total revenue requirement for AMIL pricing zone to be collected under Schedule 9 (NITS) 22

APPENDIX - MISO ATTACHMENTS O, GG & MM Calculate rates for Schedules 9, 26 & 26-A Attachment GG - Schedule 26 Attachment MM - Schedule 26-A Attachment O - net revenue requirement billed under Schedule 9 Schedules 26 and 26-A are billed by MISO Schedule 9 is billed by Ameren 23

APPENDIX - MISO ATTACHMENT GG Cost Recovery for certain Network Upgrades Eligible projects Market Efficiency Generator Interconnections Cost shared based upon project type MISO-wide based on load Subregional based on LODF (Line Outage Distribution Factor) AIC has four Attachment GG projects completed One additional project is under construction These projects were approved by MISO under prior Tariff provisions which allowed limited cost sharing for certain reliability projects 24

APPENDIX - MISO ATTACHMENT MM Cost recovery for Multi-Value Projects (MVPs) Very similar format as Attachment GG Criteria for being considered Developed through planning process and support energy policy Multiple types of economic value across multiple pricing zones with benefit to costs > 1 Address at least one: Projected NERC violation Economic-based issue Cost shared across MISO based on load AMIL Zone is approximately 9% Ameren MVPs will primarily be built by ATXI AIC will be responsible for modifications needed to its existing facilities 25

APPENDIX - MISO ATTACHMENT O, GG & MM All transmission costs included in Attachment O calculation Schedule 9 based on net revenue requirement reductions for: Costs recovered in Schedules 26 & 26-A Revenue Credits Point-to-Point revenue in Schedules 7 & 8 Rental revenue Revenue from generator interconnections 26

APPENDIX - MISO TRANSMISSION EXPANSION PLAN (MTEP) Developed on an annual basis building upon previous analysis MISO, Transmission Owners & Stakeholders Includes subregional planning meetings MTEP goals Ensure the reliability of the transmission system Ensure compliance with NERC Standards Provide economic benefits, such as increased market efficiency Facilitate public policy objectives, such as meeting Renewable Portfolio Standards Address other issues or goals identified through the stakeholder process Multiple future scenarios analyzed End result comprehensive, cohesive plan for MISO footprint MTEP approved by MISO Board of Directors 27

MISO MVPS Brief history of development Began investigating value added expansion in 2003 2008 Regional Generation Outlet Study (RGOS) - formed basis of Candidate MVP portfolio Portfolio refined due to additional analysis MISO approved portfolio of 17 Projects Seven transmission line segments (MTEP proj numbers) in Ameren territory Ameren identifies these three projects as: Illinois Rivers (four line segments) Spoon River Mark Twain (two line segments) Broadly cost-shared, AMIL pricing zone allocated 9% of each MVP no matter where project is located or who builds it 28

APPENDIX - MAP OF AMEREN MVPS 29

APPENDIX - RATE INCENTIVES FERC approved the following rate incentives for Illinois Rivers in Docket No. EL10-80 CWIP (no AFUDC) Abandonment (requires additional filing prior to recovery) Hypothetical capital structure during construction for ATXI FERC approved similar incentives for Spoon River and Mark Twain Projects in Docket No. ER12-2216 30

APPENDIX - MISO WEB LINKS Transmission Pricing - Attachments O, GG & MM Information https://www.misoenergy.org/MarketsOperations/TransmissionSettlement s/Pages/TransmissionPricing.aspx Ameren OASIS http://www.oasis.oati.com/AMRN/index.html MTEP 15 https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/ Pages/MTEP15.aspx Schedule 26 & 26-A Indicative Charges https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/ Pages/MTEPStudies.aspx 31

APPENDIX AIC Additional questions on these topics can be sent to Ameren at: MISOFormulaRates@ameren.com 32