2016 Projected Attachment O-PPI Open Stakeholder Meeting October 15, 2015

Agenda Summarize PPI-specific protocols under ER15-2364 Review 2016 Projections Explain Ameren IL Company Joint Zone Rate structure 2

Forward-looking Filing July 31, 2015 – FERC filing to revise MISO Tariff sheets for Attachments O, GG and MM ER15-2364 Establishes company-specific Attachment O-PPI which calculates a forward-looking revenue requirement in the Ameren IL Zone Institutes the transparency and true-up mechanism Protocols for Attachments O and GG Includes PPI in Attachment MM provisions Effective Date: October 1st for Protocols and January 1st for revenue requirement October 7, 2015 – FERC Order of Approval 3

PPI-specific Protocols Date/Deadline Activity October 1st Deadline to submit upcoming year’s Annual ATRR Projection October 31st Deadline to hold Annual Projected Rate Meeting to discuss projected ATRR November 1st Deadline for informational meeting for MISO Owners with Project costs being shared regionally* December 1st Deadline for Interested Parties to submit information requests January 10th Deadline for PPI to respond to information requests January 31st Deadline for Interested Parties to submit Informal Challenges February 28th Deadline for PPI to respond to Informal Challenges March 15th Deadline for PPI submit Informational Filing to FERC April 15th Deadline for Interested Parties to file Formal Challenge at FERC June 1st Deadline to publish Annual Update with True-Up September 1st Deadline for Annual Update open meeting * PPI has not constructed a Project which is regionally cost-shared. 4

MISO Protocols https://www.misoenergy.org/Markets Operations/TransmissionSettlements/ Pages/TransmissionOwnerRateData.as px PPI Contact for informational requests or Informal Challenges: Alisha Anker aanker@ppi.coop (217) 331-5621 5

Attachment O-PPI Rate-making formula for Plant in Service: FERC-approved Rate Formulae specific to PPI PPI uses the Non-Levelized template utilizing RUS/CFC Form 12 data Timing of rate impact now consistent across the Ameren IL Zone Rate-making formula for Plant in Service: Net Revenue Requirement = O&M + Depreciation + Taxes + Return on Rate Base - Revenue Credits Return on Rate Base = ( Net Plant in Service + Total Working Capital Land Held for Future Use ) x Weighted Rate of Return 6

Attachment O-PPI Calc – Summary Allocators: TP = Percentage of Transmission Plant in ISO Rates TE = Percentage of Transmission Expenses in ISO Rates (same as TP Allocator for PPI) W/S = Percentage of Transmission-related Wages/Salaries to Total Wages/Salaries GP = Percentage of Transmission-related Gross Plant 7

Attachment O-PPI Calc – Rate Base 8

Transmission Additions Upgrade Alsey Sub to accommodate 6-breaker ring bus 138kV Alsey–Pittsfield 138/69kV step-down at Pittsfield Upgrade Winchester-Pittsfield 69kV Source: MTEP14 Central SPM Presentation June 17, 2014 9

Attachment O-PPI Calc – Expenses 10

Attachment O-PPI Calc – Capital Structure 11

Joint Zone Rates Net Revenue Requirements for each Zonal Party are aggregated Σ Rev Reqt’s = Σ (PPI + AIC + ATXI) Σ Rev Reqt’s / Avg 12-mo Demand = $/kW-mo NITS rate Revenue allocated pursuant to JPZ Agreement* between the Parties Revenues allocated based on share of: Annual Rev Reqt for Sch 9 service (PPI share = 3.3%) Adjusted Gross Book Value for PTP service (Sch 7 & 8) within and into/out of Zone (PPI share = 2.37%) PPI Rev Requirement has no impact on Sch 26 or Sch 26A *Joint Pricing Zone Revenue Allocation Agreement Docket No. ER14-65-000 Effective Date: June 1, 2013 12

Joint Zone Shares 13

Questions? … Contact: Alisha Anker aanker@ppi.coop (217) 331-5621 14