Core Viewpoint - OGE Energy Corp. reported strong first-quarter 2025 results, with significant increases in earnings and revenues compared to the previous year, indicating robust operational performance and growth potential [1][4]. Financial Performance - First-quarter 2025 earnings per share were 31 cents, exceeding the Zacks Consensus Estimate of 22 cents by 40.9% and improving 244.4% from 9 cents in the prior-year quarter [1]. - Operating revenues reached $747.7 million, a 25.3% increase from $596.8 million in the prior-year quarter, and surpassed the Zacks Consensus Estimate of $693 million by 8% [1]. - Net income for the first quarter was $62.7 million, up 237.1% from $18.6 million in the prior-year quarter [4]. Operational Highlights - Total sales in the reported quarter were 8.2 million megawatt-hours (MWh), an increase from 7.4 MWh in the prior-year quarter [2]. - The customer count rose by 1% to 908,851 [2]. - The cost of fuel, purchased power, and direct transmission increased by 39.6% to $324 million from $232.2 million in the prior-year quarter [2]. Expense Management - Total operating expenses for the first quarter slipped 0.1% to $290.4 million, mainly due to lower operation and maintenance expenses [3]. - Operating income totaled $133.3 million, an increase of 80.1% from $74 million in the year-ago quarter [3]. - Interest expenses rose to $67.3 million, up 11.8% from $60.2 million recorded a year ago [3]. Segment Performance - The OG&E segment's net income was $71 million, up 181.7% from $25.2 million in the prior-year period, driven by higher operating revenues and lower expenses [4]. - The Other Operations unit reported a net loss of $8.3 million, wider than the previous year's loss of $6.6 million, attributed to higher interest expenses [5]. Financial Position - As of March 31, 2025, cash and cash equivalents were $26.9 million, compared to $0.6 million as of December 31, 2024 [6]. - Long-term debt increased to $5.12 billion from $5.02 billion as of December 31, 2024 [6]. - Cash generated from operating activities was $15.9 million, down from $83 million in the prior-year period [6]. Guidance - OGE Energy reiterated its 2025 earnings per share guidance, expecting a range of $2.21 to $2.33, with the Zacks Consensus Estimate at $2.27 [7].

Group 1: Earnings Performance - OGE Energy reported quarterly earnings of $0.31 per share, exceeding the Zacks Consensus Estimate of $0.22 per share, and up from $0.09 per share a year ago, representing an earnings surprise of 40.91% [1] - The company posted revenues of $747.7 million for the quarter, surpassing the Zacks Consensus Estimate by 7.95%, compared to $596.8 million in the same quarter last year [2] - Over the last four quarters, OGE Energy has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - OGE Energy shares have increased by approximately 10.8% since the beginning of the year, while the S&P 500 has declined by 5.5% [3] - The current consensus EPS estimate for the upcoming quarter is $0.61 on revenues of $850.55 million, and for the current fiscal year, it is $2.27 on revenues of $3.11 billion [7] - The estimate revisions trend for OGE Energy is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Utility - Electric Power industry, to which OGE Energy belongs, is currently in the top 16% of over 250 Zacks industries, suggesting a favorable outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Data and Key Metrics Changes - Consolidated earnings for Q1 2025 were reported at $0.31 per diluted share, an increase from $0.09 per share in Q1 2024 [14] - The electric company achieved net income of $71 million or $0.35 per diluted share, compared to $25 million or $0.12 per share in the same period of 2024 [14] - The holding company reported a loss of $8 million or $0.04 per diluted share, compared to a loss of $7 million or $0.03 per share in Q1 2024 [14] - The company affirmed its 2025 earnings per share guidance of $2.27 within a range of $2.21 to $2.33 per share [14][21] Business Line Data and Key Metrics Changes - Customer growth was at 1% year-over-year, with demand growing by 8%, primarily driven by residential and commercial sectors [6][15] - Residential load growth was reported at 3%, while commercial load growth was at 28% [15] - Industrial and oilfield classes experienced some softness due to planned and unplanned outages [16] Market Data and Key Metrics Changes - The company noted that its rates are among the lowest in the nation, with the lowest rates in both Oklahoma and Arkansas [8] - The company is experiencing strong demand growth in Oklahoma and Arkansas, supported by economic development efforts [6][17] Company Strategy and Development Direction - The company is focused on delivering safe, reliable, and affordable electric service while investing in grid reliability and resilience [5][10] - Future investments will include regulatory filings for rate reviews and generation capacity to meet planning margin requirements [10][19] - The company is pursuing a diversified supply base to limit exposure to tariff impacts and ensure project continuity [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position and operational excellence, despite macroeconomic uncertainties [12][21] - The company is optimistic about future load growth driven by economic development and customer expansion [6][17] - Management highlighted the importance of maintaining low rates for customers to support economic development [8][21] Other Important Information - The company has secured key components like transformers and wire through 2026, ensuring minimal disruptions to planned projects [11] - The company is actively pursuing legislative and regulatory improvements to enhance credit and support future investments [19] Q&A Session Summary Question: Are there any disruptive or inflationary impacts on the current CapEx plan? - Management feels confident about the current CapEx plan and expects little to no disruption in the coming years [27] Question: What is the outlook for industrial load growth? - Management indicated that the lower growth in the industrial segment is due to transitory events like outages and maintenance, with no external impacts expected [29] Question: Are there any discussions around regulatory improvements in Oklahoma? - Management confirmed ongoing discussions about pursuing formula rate improvements, but noted that significant changes are not expected this year [32] Question: How would the generation rider impact financing plans? - The generation rider would provide cash flow during construction phases, enhancing financing capabilities for incremental CapEx [40][42] Question: Is there any impact from the Supreme Court decision on serving large load customers? - Management confirmed that the Supreme Court ruling does not affect the ability to serve large load customers [46] Question: How is the demand narrative for data centers evolving? - Management reported ongoing discussions with several data center companies, indicating strong demand remains [52] Question: What is the company's strategy regarding Moody's credit rating? - Management emphasized that while they are targeting a 17% FFO to debt ratio, they believe ongoing improvements and regulatory actions could positively influence their credit rating [56]

Financial Data and Key Metrics Changes - Consolidated earnings for the first quarter were reported at $0.31 per diluted share, an increase from $0.09 per share in the same period of 2024 [17] - The electric company achieved net income of $71 million or $0.35 per diluted share, compared to $25 million or $0.12 per share in the same period of 2024 [17] - The holding company reported a loss of $8 million or $0.04 per diluted share, compared to a loss of $7 million or $0.03 per share in the same period of 2024 [17] - The company affirmed its 2025 earnings per share guidance of $2.27 within a range of $2.21 to $2.33 per share [17][25] Business Line Data and Key Metrics Changes - Customer growth was at 1% year-over-year, with residential and commercial sectors leading the demand growth of 8% [7][18] - Residential load growth was strong at 3%, while commercial load growth was even higher at 28% [19] - Industrial and oilfield classes experienced some softness due to planned and unplanned outages [19] Market Data and Key Metrics Changes - The company reported an average reliability of 99.975% despite facing extreme weather conditions [9] - The rates for the company are among the lowest in the nation, with the lowest rates in both Oklahoma and Arkansas [10] Company Strategy and Development Direction - The company is focused on delivering safe, reliable, and affordable electric service to over 900,000 customers [6] - Future growth is anticipated from diverse industries, including defense, tribal development, and hospitality, particularly with Oklahoma City hosting events for the 2028 Olympics [8] - The company plans to request a rate review midyear in Oklahoma and a general rate review in Arkansas towards the end of the year [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position and operational excellence, which supports future growth [14] - The company is proactive in managing supply chain risks and has secured key components through 2026 [13] - Management acknowledged the uncertainty in the macroeconomic environment but remains committed to delivering on stakeholder expectations [13] Other Important Information - The company completed a planned external financing of $350 million, contributing to low refinancing risk [21] - The balance sheet is considered one of the strongest in the industry, with a forecasted FFO to debt ratio of approximately 17% [22] Q&A Session Summary Question: Are there any disruptive or inflationary impacts on the current CapEx plan? - Management feels confident about the current CapEx plan and expects little to no disruption in the coming years [30] Question: What is the outlook for industrial load growth? - Management indicated that the lower growth in the industrial segment is due to transitory events like outages, with no external factors impacting that class [32] Question: Are there discussions around utility regulatory improvements in Oklahoma? - Management confirmed ongoing discussions about pursuing formula rates but indicated that significant changes are not expected this year [36] Question: How would the generation rider and PISA recovery impact the current plan? - Management stated that the generation rider would provide cash flow during the construction phase, enhancing credit and facilitating financing [44] Question: Is there any impact from the Oklahoma Supreme Court ruling on service extensions? - Management confirmed that the ruling does not affect the ability to serve large load customers [52] Question: How is the tone in customer exchanges regarding data center electricity demand? - Management reported ongoing discussions with several data center companies, indicating strong demand [59] Question: What is the company's strategy regarding Moody's negative outlook? - Management expressed confidence in maintaining a strong balance sheet and believes that upcoming regulatory events could positively influence Moody's assessment [62]

April 30, 2025 Safe Harbor Some of the matters in this presentation may contain forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "expect," "forecast," "intend," "objective," "plan," "possible," "potential," "project," "target" and similar expressions. Actual results may vary materially from those expressed in forward looking statements. ...

Core Viewpoint - OGE Energy Corp. reported significant growth in earnings for the first quarter of 2025, driven by increased customer demand and operational efficiencies, indicating a positive outlook for the company as it continues to expand its services in Oklahoma and Arkansas [2][4]. Financial Performance - OGE Energy Corp. achieved earnings of $0.31 per diluted share in Q1 2025, up from $0.09 per diluted share in Q1 2024 [1][3]. - The net income for OG&E was $71.0 million, or $0.35 per diluted share, compared to $25.2 million, or $0.12 per diluted share, in the same period last year [2][12]. - The overall net income for OGE Energy was $62.7 million, reflecting a substantial increase from $18.6 million in Q1 2024 [3][12]. Revenue and Expenses - Operating revenues for OGE Energy Corp. reached $747.7 million in Q1 2025, compared to $596.8 million in Q1 2024, marking a significant increase [11][12]. - Fuel, purchased power, and direct transmission expenses rose to $324.0 million from $232.2 million year-over-year [11][12]. - Operating expenses remained relatively stable at $290.4 million, slightly down from $290.6 million in the previous year [11][12]. Outlook - The company maintains its 2025 consolidated earnings guidance at $2.27 per average diluted share, with a range of $2.21 to $2.33, assuming normal weather conditions for the remainder of the year [4][5]. - OGE Energy's earnings are subject to significant seasonality due to weather variations [4]. Customer Base and Market Position - OGE Energy Corp. serves approximately 909,000 customers in Oklahoma and western Arkansas, indicating a stable and growing customer base [6].

Exhibit 99.01 2025 Outlook OGE Energy's 2025 consolidated earnings guidance remains unchanged and is projected to be $2.27 per average diluted share, within a range of $2.21 to $ 2.33 per average diluted share. The guidance assumes, among other things, approximately 202.1 million average diluted shares outstanding and normal weather for the remainder of the year. OG&E has significant seasonality in its earnings due to weather on a year over year basis. See OGE Energy's 2024 Form 10-K for other key factors a ...

[Part I - FINANCIAL INFORMATION](index=6&type=section&id=Part%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for OGE Energy Corp. and Oklahoma Gas and Electric Company (OG&E) for the three months ended March 31, 2025, including income statements, balance sheets, cash flow statements, and statements of stockholders' equity, along with combined notes detailing significant accounting policies, revenue recognition, debt, and regulatory matters [OGE Energy Corp. Condensed Consolidated Financial Statements](index=6&type=section&id=OGE%20Energy%20Corp.%20Condensed%20Consolidated%20Financial%20Statements) For the three months ended March 31, 2025, OGE Energy Corp. reported a significant increase in net income to $62.7 million from $18.6 million in the prior year period, driven by a 25.3% rise in operating revenues, though net cash from operating activities decreased substantially from $83.0 million to $15.9 million year-over-year OGE Energy Corp. Condensed Consolidated Statement of Income (Q1 2025 vs Q1 2024) | Metric | Q1 2025 (In millions) | Q1 2024 (In millions) | Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenues** | $747.7 | $596.8 | 25.3% | | **Operating Income** | $133.3 | $74.0 | 80.1% | | **Net Income** | $62.7 | $18.6 | 237.1% | | **Diluted EPS** | $0.31 | $0.09 | 244.4% | OGE Energy Corp. Condensed Consolidated Statement of Cash Flows (Q1 2025 vs Q1 2024) | Metric | Q1 2025 (In millions) | Q1 2024 (In millions) | | :--- | :--- | :--- | | Net cash provided from operating activities | $15.9 | $83.0 | | Net cash used in investing activities | $(263.7) | $(243.5) | | Net cash provided from financing activities | $274.1 | $164.6 | OGE Energy Corp. Condensed Consolidated Balance Sheet Highlights | Metric | March 31, 2025 (In millions) | Dec 31, 2024 (In millions) | | :--- | :--- | :--- | | Total Current Assets | $1,008.8 | $895.1 | | Net Property, Plant and Equipment | $12,213.2 | $12,086.6 | | **Total Assets** | **$13,953.2** | **$13,716.0** | | Total Current Liabilities | $1,382.6 | $1,229.8 | | Long-Term Debt | $5,121.8 | $5,020.9 | | **Total Liabilities** | **$9,337.5** | **$9,075.1** | | **Total Stockholders' Equity** | **$4,615.7** | **$4,640.9** | [Oklahoma Gas and Electric Company Condensed Financial Statements](index=12&type=section&id=Oklahoma%20Gas%20and%20Electric%20Company%20Condensed%20Financial%20Statements) Oklahoma Gas and Electric Company (OG&E) saw its net income rise to $71.0 million for the first quarter of 2025, a substantial increase from $25.2 million in the same period of 2024, with operating revenues growing to $747.7 million, though net cash from operating activities declined significantly year-over-year OG&E Condensed Statement of Income (Q1 2025 vs Q1 2024) | Metric | Q1 2025 (In millions) | Q1 2024 (In millions) | Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenues** | $747.7 | $596.8 | 25.3% | | **Operating Income** | $133.3 | $74.0 | 80.1% | | **Net Income** | $71.0 | $25.2 | 181.7% | OG&E Condensed Statement of Cash Flows (Q1 2025 vs Q1 2024) | Metric | Q1 2025 (In millions) | Q1 2024 (In millions) | | :--- | :--- | :--- | | Net cash provided from operating activities | $46.7 | $124.6 | | Net cash used in investing activities | $(263.4) | $(243.1) | | Net cash provided from financing activities | $241.3 | $122.6 | [Combined Notes to Condensed Financial Statements](index=17&type=section&id=Combined%20Notes%20to%20Condensed%20Financial%20Statements) The notes detail key accounting policies, including the significant role of regulatory assets and liabilities in OG&E's financial reporting, highlight the finalization of the 2023 Oklahoma General Rate Review resulting in a $126.7 million annual revenue increase, and disclose the issuance of $350.0 million in senior notes and an ongoing lawsuit seeking over $60.0 million in damages OG&E Revenues from Contracts with Customers by Classification (Q1) | Customer Classification | Q1 2025 (In millions) | Q1 2024 (In millions) | | :--- | :--- | :--- | | Residential | $283.6 | $221.4 | | Commercial | $206.6 | $148.8 | | Industrial | $61.6 | $53.0 | | Oilfield | $59.4 | $49.7 | | Public authorities and street light | $60.5 | $51.0 | - On April 1, 2025, OG&E issued **$350.0 million** of **5.80%** senior notes due 2055 to repay short-term debt and fund its capital investment program[85](index=85&type=chunk) - OG&E is a defendant in a lawsuit seeking over **$60.0 million** in damages related to a fire at an apartment building. The company disputes the claims and believes its insurance policies will cover costs in excess of a non-material retention amount[105](index=105&type=chunk)[106](index=106&type=chunk) - The 2023 Oklahoma General Rate Review was finalized, resulting in an annual revenue requirement increase of **$126.7 million**. The settlement also approved the current **9.5%** return on equity and a capital structure with **53.50%** common equity[108](index=108&type=chunk)[109](index=109&type=chunk)[110](index=110&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the significant increase in Q1 2025 net income to higher operating revenues at OG&E, driven by capital investment recovery and load growth, alongside lower operation and maintenance expenses, while reaffirming its 2025 consolidated earnings guidance and noting Moody's revision of its ratings outlook to negative due to capital expenditure plans and higher debt levels - OGE Energy's Q1 2025 net income increased to **$62.7 million** (**$0.31/share**) from **$18.6 million** (**$0.09/share**) in Q1 2024. The increase was primarily driven by a **$45.8 million** rise in net income at OG&E due to higher revenues from capital recovery and load growth, and lower O&M expenses[127](index=127&type=chunk) - The company's 2025 consolidated earnings guidance remains unchanged at **$447 million** to **$471 million**, or **$2.21** to **$2.33** per average diluted share[128](index=128&type=chunk) Drivers of OG&E Operating Revenue Increase (Q1 2025 vs Q1 2024) | Driver | Change (In millions) | | :--- | :--- | | Fuel, purchased power and direct transmission expense (recoverable) | $91.8 | | Price variance (includes weather) | $37.1 | | Quantity impacts (includes weather) | $11.6 | | Non-residential demand and related revenues | $5.4 | | New customer growth | $4.2 | | **Total Change in Operating Revenues** | **$150.9** | - On April 14, 2025, Moody's Investors Service revised its ratings outlook on both OGE Energy and OG&E from **stable to negative**, citing pressure from OG&E's capital expenditure plan and higher debt levels at the holding company[160](index=160&type=chunk) - OG&E estimates the cost of compliance with the EPA's Good Neighbor FIP could be approximately **$2.4 billion** to **$2.8 billion** in total, though the rule is currently stayed and subject to litigation and reconsideration by the EPA[171](index=171&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section states that there have been no significant changes in the market risks affecting the Registrants since the disclosures made in their 2024 Form 10-K - There have been no significant changes in the market risks affecting the Registrants from those discussed in the 2024 Form 10-K[194](index=194&type=chunk) [Controls and Procedures](index=44&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the Registrants' disclosure controls and procedures were effective as of the end of the period covered by this report, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO have concluded that the Registrants' disclosure controls and procedures are effective as of March 31, 2025[195](index=195&type=chunk)[196](index=196&type=chunk) - No material changes in internal control over financial reporting occurred during the most recently completed fiscal quarter[197](index=197&type=chunk) [Part II - OTHER INFORMATION](index=46&type=section&id=Part%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) This section reports no new significant legal cases against the Registrants and no material changes in previously reported proceedings, referencing the details provided in Notes 12 and 13 of the financial statements - There are no new significant legal cases to report, and no material changes have occurred in previously reported proceedings[198](index=198&type=chunk) [Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) The company states that there have been no significant changes to its risk factors from those disclosed in its 2024 Form 10-K - There have been no significant changes in the Registrants' risk factors from those discussed in the 2024 Form 10-K[199](index=199&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=46&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None reported[200](index=200&type=chunk) [Other Information](index=46&type=section&id=Item%205.%20Other%20Information) The company disclosed that no director or officer adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement during the first quarter of 2025 - No director or officer of the Registrants adopted or terminated a Rule 10b5-1 trading arrangement during the three months ended March 31, 2025[201](index=201&type=chunk) [Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications by the CEO and CFO and interactive data files (XBRL) - Lists exhibits filed with the report, including Sarbanes-Oxley certifications and XBRL data files[202](index=202&type=chunk)

Core Viewpoint - The company operates primarily in Oklahoma, which provides a significant market presence and potential for growth in the energy sector [1]. Group 1 - The company aims to generate a 7%+ income yield by investing in a diversified portfolio of energy stocks while minimizing principal loss risk [1]. - Subscribers to the service gain early access to investment ideas and in-depth research that is not available to the general public [1]. - A two-week free trial is currently being offered to attract new subscribers [1].

Core Points - OGE Energy Corp. will hold its quarterly earnings and business update conference call on April 30, 2025, at 9 a.m. Eastern Time [1] - The conference call will be accessible via webcast on OGE Energy's official website [1] - OGE Energy Corp. is the parent company of OG&E, which serves approximately 907,000 customers in Oklahoma and western Arkansas [1]