1. 2015 Attachment O True-Up Stakeholder Meeting
Ameren Transmission Company of Illinois
July 19, 2016

2. Agenda
Main Purpose is to review ATXI 2015 Transmission Rate True-Up Calculations
Protocol Timeline
2015 True Up Calculation
Total Revenue Requirement Comparison – Projected vs Actual
Attachment O/Schedule 9 True-up
Attachment MM Revenue Requirement and True-up
2015 MVP Spend
ROE Complaint Cases
An additional meeting will held to review the 2017 Projected Transmission Rate calculations. Tentatively set for October 3rd.

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

4. ATXI Revenue Requirement Comparison
Projected 2015 vs Actual 2015

5. Atxi 2015 Rate Base Page.Line 2015 Projection 2015 Actual Change
Percent
2.6
Total Gross Plant
80,778,000
87,757,036
6,979,036 9%
2.12
Total Accum Depreciation
4,717,000
5,373,349
656,349
14%
2.18
TOTAL NET PLANT
76,061,000
82,383,687
6,322,687 8%
2.18a
100% CWIP RECOVERY
471,564,000
462,818,690
-8,745,310
-2%
ADJUSTMENTS TO RATE BASE
2.20
Account No. 282
-12,824,000
-24,006,415
-11,182,415
87%
2.21
Account No. 283
-2,720,000
-3,545,081
-825,081
30%
2.22
Account No. 190
2,470,000
3,990,057
1,520,057
62%
2.25
Land Held for Future Use
N/A
2.26
CWC
866,625
1,386,288
519,663
60%
2.27
Materials & Supplies
2.28
Prepayments
190,000
375,152
185,152
97%
TOTAL ADJUSTMENTS
-12,017,375
-21,799,998
-9,782,623
81%
2.30
TOTAL RATE BASE
535,607,625
523,402,380
-12,205,245

6. ATXI 2015 Expenses Page.Line 2015 Projection 2015 Actual Change
Percent
O&M
3.1
Transmission
367,000
1,700,440
1,333,440
363%
3.1a
Less LSE Expenses
N/A
3.2
Less Account 565
3.3
A&G
6,566,000
9,389,861
2,823,861
43%
3.4
Less FERC Annual Fees
3.5
Less EPRI, ect.
50,000
185,211
135,211
270%
3.5a
Plus Trans. Reg. Comm. Exp
3.8
TOTAL O&M
6,933,000
11,090,301
4,157,301
60%
3.12
TOTAL DEPRECIATION
1,132,000
1,921,460
789,460
70%
TAXES
3.13
Payroll
3.16
Property
82,401
3.18
Other
155,000
204,132
49,132
32%
3.27
Income Taxes
24,806,313
24,229,707
-576,605
-2%
TOTAL TAXES
24,961,313
24,516,240
-445,072
TOTAL EXPENSES
33,026,313
37,528,002
4,501,689
14%

7. Atxi 2015 capital structure
Actual Capital Structure Projection
Page.Line $ %
Cost
Weighted
4.27
Long Term Debt
192,308,000
44%
4.2700%
1.8700%
4.28
Preferred Stock 0%
0.0000%
4.29
Common Stock
247,121,000
56% %
6.9600%
4.3
Total
439,429,000
100%
8.8300%
Actual Capital Structure Actual
182,307,692
3.1010%
1.3639%
232,202,030
6.9351%
414,509,722
8.2989%
Change in Actual Return %
Hypothetical Capital Structure Actual
Actual Capital Structure Return
Hypothetical Capital Structure Return
8.2972%
Difference applied to Attachment MM %

8. ATXI 2015 total revenue requirement
Page.Line
2015 Projection
2015 Actual
Change
Percent
2.30
TOTAL RATE BASE
535,607,625
523,402,380
-12,205,245
-2%
4.30
Rate of Return on ACS
8.83%
8.30%
-0.53%
-6%
3.28
Return from ACS
47,306,341
43,436,896
-3,869,445
-8%
2.30a
100% CWIP RECOVERY
471,564,000
462,818,690
-8,745,310
4.30e
Incremental Rate of Return on HCS
-0.02%
0.00%
0.02%
-91%
3.28a
Incremental Return from HCS
-90,541
-7,935
82,606
Total Return
47,215,800
43,428,961
-3,786,839
Total Expenses
33,026,313
37,528,002
4,501,689
14%
3.29
TOTAL GROSS REV. REQ.
80,242,113
80,956,963
714,850 1%
3.30
Less ATT. GG Adjustment
N/A
3.30a
Less ATT. MM Adjustment
71,386,314
71,231,892
-154,422 0%
3.31
GROSS REV. REQ. UNDER ATT. O
8,855,799
9,725,070
869,272
10%

9. Atxi 2015 Net Revenue Requirement For Schedule 9
Page.Line
2015 Projection
2015 Actual
Change
Percent
1.1
Gross Revenue Requirement
8,855,799
9,725,070
869,272
10%
1.6
Total Revenue Credits
423,000
1,100,154
677,154
160%
1.6a
Historic Year Actual ATRR*
8,860,739 0%
1.6b
Projected ATRR from Prior Year*
7,406,002
1.6c
Prior Year ATRR True-Up*
1,454,736
1.6d
Prior Year Divisor True-Up*
(45,647)
1.6e
Interest on Prior Year True-Up*
9,706
1.7
NET REVENUE REQUIREMENT
9,851,594
10,043,711
192,118 2%
* 2013 True-up included in 2015 Projection and Actual.

10. ATXI 2015 Attachment O True Up for Schedule 9
Ameren Transmission Company of Illinois
2015 Attachment O Revenue Requirement True-Up (WP 4)
For the Year Ended December 31, 2015
Attachment O
Net Actual Revenue Requirement (Attachment O, Pg 1, Line 7)
10,043,711
Net Projected Revenue Requirement (2015 Projected Attachment O, Pg 1, Line 7)
9,851,594
Under/(Over) Recovery of Net Revenue Requirement
$ ,117
Historic Year Actual Divisor for Pricing Zone (AIC Attachment O, Pg 1, Line 15)
6,922,407
Projected Year Divisor for Pricing Zone (AIC 2015 Projected Attachment O, Pg 1, Line 15)
7,095,335
Difference between Historic & Projected Yr Divisor
172,928
Prior Year Projected Annual Cost ($ per kw per yr)
1.3885
Prior Year Under/(Over) Divisor True-up
$ ,110
Total Under/(Over) Recovery
$ ,227
Monthly Interest Rate (to be updated through July, 2016)
0.0311%
Interest For 24 Months
$ ,226
Total Under/(Over) Recovery Including Interest
$ ,454
(Amount to be included in Projected 2017 Attachment O)

11. ATXI Attachment MM Calculation - Page 1
Attachment O
Line
Page, Line, Col.
Transmission
Allocator
No. 1
Gross Transmission Plant - Total
Attach O, p 2, line a col 5 (Note A)
547,049,166 1a
Transmission Accumulated Depreciation
Attach O, p 2, line 8 col 5
4,693,803 2
Net Transmission Plant - Total
Line 1 minus Line 1a (Note B)
542,355,363
O&M TRANSMISSION EXPENSE 3
Total O&M Allocated to Transmission
Attach O, p 3, line 8 col 5
11,090,301 3a
Transmission O&M
Attach O, p 3, line 1 col 5
1,700,440 3b
Less: LSE Expenses included in above, if any
Attach O, p 3, line 1a col 5, if any - 3c
Less: Account 565 included in above, if any
Attach O, p 3, line 2 col 5, if any 3d
Adjusted Transmission O&M
Line 3a minus Line 3b minus Line 3c 4
Annual Allocation Factor for Transmission O&M
(Line 3d divided by line 1a, col 3)
36.23%
OTHER O&M EXPENSE 4a
Other O&M Allocated to Transmission
Line 3 minus Line 3d
9,389,861 4b
Annual Allocation Factor for Other O&M
Line 4a divided by Line 1, col 3
1.72%
GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE 5
Total G&C Depreciation Expense
Attach O, p 3, lines 10 & 11, col 5 (Note H)
722,457 6
Annual Allocation Factor for G&C Depreciation Expense
(line 5 divided by line 1 col 3)
0.13%
TAXES OTHER THAN INCOME TAXES 7
Total Other Taxes
Attach O, p 3, line 20 col 5
286,533 8
Annual Allocation Factor for Other Taxes
(line 7 divided by line 1 col 3)
0.05% 9
Annual Allocation Factor for Other Expense
Sum of line 4b, 6, and 8
1.90%
INCOME TAXES 10
Total Income Taxes
Attach O, p 3, line 27 col 5
24,229,707 11
Annual Allocation Factor for Income Taxes
(line 10 divided by line 2 col 3)
4.47%
RETURN 12
Return on Rate Base (Note I)
Attach O, p 3, line 28 col 5
43,436,896 13
Annual Allocation Factor for Return on Rate Base
(line 12 divided by line 2 col 3)
8.01% 14
Annual Allocation Factor for Return
Sum of line 11 and 13
12.48%
HYPOTHETICAL CAPITAL STRUCTURE (HCS) RETURN 15
Annual Allocation Factor HCS Return (Note J)
Attach O, p 4, line 30e
0.00%

12. ATXI Attachment MM Calculation - Page 2
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Line No.
Project Name
MTEP Project Number
Project Gross Plant
Project Accumulated Depreciation
Transmission O&M Annual Allocation Factor
Annual Allocation for Transmission O&M Expense
Other Expense Annual Allocation Factor
Annual Allocation for Other Expense
Annual Expense Charge
(Note C)
Page 1 line 4
(Col 4 * Col 5)
Page 1 line 9
(Col 3 * Col 7)
(Col 6 + Col 8)
Multi-Value Projects (MVP) 1a
Pana-Sugar Creek - CWIP
2237
$ ,099,171 $
36.23% $
1.90%
$ ,712,694
$ ,712,694 1b
Pana-Sugar Creek - Plant in Service - No HCS
$ ,478,744
$ ,645
$ ,392
$ ,163
$ ,556 1c
Pana-Sugar Creek - Land - No HCS
$ ,246,528
$ ,722
$ ,722 1d
Sidney-Rising - CWIP
2239
$ ,931,651
$ ,132
$ ,132 1e
Sidney-Rising - Plant in Service - No HCS
$ ,106,101
$ ,305
$ ,197
$ ,035
$ ,232 1f
Sidney-Rising - Land - No HCS
$ ,285,913
$ ,444
$ ,444 1g
Adair-Ottumwa - CWIP
2248
$ ,052,148
$ ,000
$ ,000 1h
Adair-Ottumwa - Plant in Service - No HCS $ 1i
Adair-Ottumwa - Land - No HCS
$ ,929
$ ,469
$ ,469 1j
Palmyra-Pawnee - CWIP
3017
$ ,736,281
$ ,899,306
$ ,899,306 1k
Palmyra-Pawnee - Plant in Service - No HCS 1l
Palmyra-Pawnee - Land - No HCS
$ ,170,113
$ ,306
$ ,306 1m
Fargo-Galesburg-Oak Grove - CWIP
3022
$ ,606,966
$ ,628
$ ,628 1n
Fargo-Galesburg-Oak Grove - Plant in Service - No HCS 1o
Fargo-Galesburg-Oak Grove - Land - No HCS
$ ,394,442
$ ,525
$ ,525 1p
Pawnee-Pana - CWIP
3169
$ ,771,366
$ ,942
$ ,942 1q
Pawnee-Pana - Plant in Service - No HCS 1r
Pawnee-Pana - Land - No HCS
$ ,429,159
$ ,185
$ ,185 1s
Adair-Palmyra - CWIP
3170
$ ,621,106
$ ,013
$ ,013 1t
Adair-Palmyra - Plant in Service - No HCS 1u
Adair-Palmyra - Land - No HCS
$ ,450
$ ,626
$ ,626

13. ATXI Attachment MM Calculation - Page 2 (continued)
(1)
(2)
(10)
(11)
(11a)
(12)
(13)
(14)
(15)
(16)
Line No.
Project Name
MTEP Project Number
Project Net Plant
Annual Allocation Factor for Return
Annual Allocation Factor for HCS Return
Annual Return Charge
Project Depreciation Expense
Annual Revenue Requirement
True-Up Adjustment
MVP Annual Adjusted Revenue Requirement
(Col 3 - Col 4)
(Page 1 line 14)
(Page 1 line 15) (Note J)
(Col 10 * (Col a))
(Note E)
(Sum Col. 9, 12 & 13)
(Note F)
Sum Col. 14 & 15 (Note G)
Multi-Value Projects (MVP) 1a
Pana-Sugar Creek - CWIP
2237
$ ,099,171
12.48%
0.00%
$ ,239,618 $
$ ,952,312
$ (492,359)
$ ,459,953 1b
Pana-Sugar Creek - Plant in Service - No HCS
$ ,461,099
$ ,879
$ ,524
$ ,206,959
$ ,206,959 1c
Pana-Sugar Creek - Land - No HCS
$ ,246,528
$ ,815
$ ,537
$ ,302
$ ,839 1d
Sidney-Rising - CWIP
2239
$ ,931,651
$ ,979,339
$ ,890,471
$ (134,662)
$ ,755,808 1e
Sidney-Rising - Plant in Service - No HCS
$ ,102,796
$ ,354
$ ,259
$ ,845
$ ,845 1f
Sidney-Rising - Land - No HCS
$ ,285,913
$ ,436
$ ,880
$ ,241
$ ,121 1g
Adair-Ottumwa - CWIP
2248
$ ,052,148
$ ,253
$ ,253 $
$ ,253 1h
Adair-Ottumwa - Plant in Service - No HCS $ $ $ 1i
Adair-Ottumwa - Land - No HCS
$ ,929
$ ,837
$ ,305
$ ,305 1j
Palmyra-Pawnee - CWIP
3017
$ ,736,281
$ ,151,876
$ ,051,182
$ (404,306)
$ ,646,876 1k
Palmyra-Pawnee - Plant in Service - No HCS 1l
Palmyra-Pawnee - Land - No HCS
$ ,170,113
$ ,019,339
$ ,174,644
$ ,216,042
$ ,390,687 1m
Fargo-Galesburg-Oak Grove - CWIP
3022
$ ,606,966
$ ,323,189
$ ,524,817 $
$ ,525,374 1n
Fargo-Galesburg-Oak Grove - Plant in Service - No HCS 1o
Fargo-Galesburg-Oak Grove - Land - No HCS
$ ,394,442
$ ,505
$ ,030
$ ,343
$ ,373 1p
Pawnee-Pana - CWIP
3169
$ ,771,366
$ ,963,388
$ ,567,330
$ ,313
$ ,626,643 1q
Pawnee-Pana - Plant in Service - No HCS 1r
Pawnee-Pana - Land - No HCS
$ ,429,159
$ ,837
$ ,022
$ ,587
$ ,608 1s
Adair-Palmyra - CWIP
3170
$ ,621,106
$ ,946,666
$ ,395,680
$ ,601
$ ,683,281 1t
Adair-Palmyra - Plant in Service - No HCS 1u
Adair-Palmyra - Land - No HCS
$ ,450
$ ,000
$ ,626
$ ,215
$ ,841 2
MVP Total Annual Revenue Requirements
$71,231,892
$1,516,874
$72,748,766 3
Rev. Req. Adj For Attachment O

14. Atxi 2015 attachment MM True-up For Schedule 26-A
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
(k)
Actual
Projected
Attachment MM
True-Up
Applicable
MTEP
Annual
Revenues
Adjustment
Interest
Total
Line
Project
Revenue
Allocated
Principal
Rate on
No.
Name
Number
Requirement 1
to Projects 1
Under/(Over)
[Col. (d), line 1
x (Col. (e), line 2x /
Col. (h) x Col. (i)
p 2 of 2, Col. 142
Col. (e), line 3)]2
Col. (g) - Col. (f)
Line 5
x 24 months 2
Col. (h) + Col. (j) 1
Actual Attachment MM revenues for True-Up Year 1
66,274,859 2a
Pana-Sugar Creek - CWIP
2237
15,120,908
14,038,210
12,952,312
(1,085,898)
0.03%
(8,105)
(1,094,003) 2b
Pana-Sugar Creek - Plant in Service - No HCS
778,416
722,679
1,206,959
484,280
3,615
487,895 2c
Pana-Sugar Creek - Land - No HCS
405,274
376,255
610,537
234,282
1,749
236,031 2d
Sidney-Rising - CWIP
2239
7,297,352
6,774,842
6,890,471
115,629
863
116,492 2e
Sidney-Rising - Plant in Service - No HCS -
335,845
2,507
338,352 2f
Sidney-Rising - Land - No HCS
183,729
170,574
184,880
14,306
107
14,413 2g
Adair-Ottumwa - CWIP
2248
216,008
200,541
151,253
(49,288)
(368)
(49,656) 2h
Adair-Ottumwa - Plant in Service - No HCS 2i
Adair-Ottumwa - Land - No HCS
94,653
87,876
94,305
6,429 48
6,477 2j
Palmyra-Pawnee - CWIP
3017
35,301,697
32,773,999
37,051,182
4,277,183
31,925
4,309,108 2k
Palmyra-Pawnee - Plant in Service - No HCS 2l
Palmyra-Pawnee - Land - No HCS
1,176,298
1,092,072
1,174,644
82,572
616
83,188 2m
Fargo-Galesburg-Oak Grove - CWIP
3022
2,061,101
1,913,521
1,524,817
(388,704)
(2,901)
(391,605) 2n
Fargo-Galesburg-Oak Grove - Plant in Service - No HCS 2o
Fargo-Galesburg-Oak Grove - Land - No HCS
488,283
453,321
488,030
34,709
259
34,968 2p
Pawnee-Pana - CWIP
3169
4,009,140
3,722,075
4,567,330
845,255
6,309
851,564 2q
Pawnee-Pana - Plant in Service - No HCS 2r
Pawnee-Pana - Land - No HCS
404,762
375,780
493,022
117,242
875
118,117 2s
Adair-Palmyra - CWIP
3170
3,738,008
3,470,356
3,395,680
(74,676)
(557)
(75,233) 2t
Adair-Palmyra - Plant in Service - No HCS 2u
Adair-Palmyra - Land - No HCS
110,686
102,761
110,626
7,865 59
7,924 3
Subtotal
$ ,386,315
$ ,274,862
$ ,231,893 4
Under/(Over) Recovery
$ ,957,031
$ ,001
$ ,994,032 5
Applicable Interest rate per month (expressed to four decimal places)
interest rate to be updated through July 31, 2016
0.0311%
Amount excludes True-Up Adjustment, as reported in True-Up Year projected Attachment MM, page 2, column 15. 2
Rounded to whole dollars.

15. Atxi 2015 MVP SPEND Ameren MVPs Ameren Name 2015 CAPEX MTEP #s
MTEP Description
Illinois Rivers
$354 million
2237
Pana - Mt. Zion - Kansas - Sugar Creek 345 kV line
2239
Sidney to Rising 345 kV line
3017
Palmyra-Quincy-Meredosia - Ipava & Meredosia-Pawnee 345 kV Line
3169
Pawnee to Pana kV Line
3170
New Palmyra Substation (Maywood)
Spoon River
$23 million
3022
Fargo-Galesburg-Oak Grove 345 kV Line
Mark Twain
$2 million
2248
Adair - Ottumwa 345
Adair-Palmyra 345 kV Line

16. ROE complaints Current ROE is 12.38% MISO ROE Complaints
1st Complaint (EL14-12)
Covers November 12, 2013 through Feb 11, 2015
Received initial decision from administrative law judge on December 22, 2015 with a recommended Base ROE at 10.32%
Expect final FERC order in October 2016
2nd Complaint (EL15-45)
Covers February 12, 2015 through May 11, 2016
Received initial decision on June 30, 2016 with a recommended Base ROE at 9.70%
Expect final FERC order in first half of 2017

17. FERC approved a 50 basis point adder for participation in an RTO
ROE complaints
FERC approved a 50 basis point adder for participation in an RTO
Effective January 6, 2015, but will not be used until after final orders in the ROE complaints are issued
Refunds will be required, but format is not yet determined
Will impact Schedules 7,8, 9, 26, 37, 38, 26A
Amounts could be either be
rolled into the future revenue requirements and reduce future rates
actual refunds to all customers requiring MISO to calculate adjustments for all months beginning with November 13

18. QUESTIONS?

19. Appendix Supplemental Background Information
(Not covered during presentation)

20. Appendix - MISO ATTACHMENTs O & 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

21. Appendix - MISO ATTACHMENT MM
Cost recovery for Multi-Value Projects (MVPs)
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 10%
Ameren MVPs will primarily be built by ATXI
AIC will be responsible for modifications needed to its existing facilities

22. Appendix - MISO ATTACHMENT O & 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
Since ATXI has no Attachment GG projects, there is no deduction for 26
Revenue Credits
Point-to-Point revenue in Schedules 7 & 8
Rental revenue
Revenue from generator interconnections

23. 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

24. Brief history of development
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 10% of each MVP no matter where project is located or who builds it

25. Appendix - MAP OF AMEREN MVPs

26. 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. ER

27. Appendix - Miso web links
Transmission Pricing - Attachments O, GG & MM Information
Ameren OASIS
MTEP 15
MTEP 16
Schedule 26 & 26-A Indicative Charges

28. Additional questions on these topics can be sent to Ameren at:
Appendix - Atxi
Additional questions on these topics can be sent to Ameren at: