OG&E reaches settlement in Oklahoma rate review; base rate increase of $126.66M vs. requested $332.54M

OGE ENERGY CORP.

Base rate increase of $126.66M agreed, down from $332.54M requested; no change in ROE (9.50%).
Residential customer charge stays at $13.00/month; senior discount increased by $60 annually.
Vegetation management expense set at $38.22M annually with tracker mechanism; pension asset amortized over 15 years.
Settlement is uncontested; hearing on merits scheduled week of June 17, 2024; subject to OCC approval.
Transmission costs allocated by 4-CP method; wind production cost allocation unchanged.

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