AMEREN CORP (AEE) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that AMEREN CORP surfaced in its latest filing.

• Ameren Illinois has filed an appeal of the ICC-determined ROE for 2024 through 2027 to the Illinois Appellate Court for the Fifth Judicial District.
• United States withdrew from the Paris Agreement in January 2025.January 2025
• United States withdrew from the United Nations Framework Convention on Climate Change in 2026.2026
• In February 2026, Ameren Missouri executed electric service agreements with large load customers under its large load customer rate plan, representing 2.2 gigawatts of demand.February 2026
• Ameren Missouri collective bargaining unit contracts expire in 2026 and 2028.2026 and 2028
• Ameren Illinois collective bargaining unit contracts expire in 2027 and 2029.2027 and 2029
• Pursuant to the PPRA, Ameren Missouri's natural gas rates in proceedings filed after June 2026 may be based on future costs, revenues, and sales volumes subject to MoPSC approval.after June 2026
• PPRA extended Ameren Missouri's PISA election through 2035, with a possible extension through 2040 if requested and approved by the MoPSC.
• The annual limit on electric revenue requirement increases due to PISA deferrals was reduced from 2.5% to 2.25% for revenue requirements approved after August 2025.after August 2025
• Standard & Poor's and Moody's acted as of 2025.2025