OGE ENERGY CORP.

For the period ended Sep 30, 2025. Filed Oct 29, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 29, 2025

OGE$50.94+0.6%Stored close · as of Nov 10, 2026

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Contents

Oklahoma Gas and Electric Company Condensed Financial Statements

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

Three Months Ended · Nine Months Ended
	September 30,		September 30,
(In millions)	2025	2024	2025	2024
OPERATING REVENUES
Revenues from contracts with customers	$1,028.4	$945.2	$2,489.2	$2,171.9
Other revenues	16.6	20.2	45.1	52.9
Operating revenues	1,045.0	965.4	2,534.3	2,224.8
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE	388.5	350.1	973.6	776.2
OPERATING EXPENSES
Other operation and maintenance	143.5	131.4	391.6	394.0
Depreciation and amortization	146.7	144.0	424.7	408.7
Taxes other than income	25.2	26.7	82.6	82.6
Operating expenses	315.4	302.1	898.9	885.3
OPERATING INCOME	341.1	313.2	661.8	563.3
OTHER INCOME (EXPENSE)
Allowance for equity funds used during construction	6.3	6.9	19.3	18.2
Other net periodic benefit income (expense)	(2.7)	1.9	(7.8)	5.5
Other income	4.2	3.4	13.6	8.6
Other expense	(0.5)	(0.6)	(1.9)	(3.9)
Net other income	7.3	11.6	23.2	28.4
INTEREST EXPENSE
Interest on long-term debt	60.6	53.6	177.0	156.0
Allowance for borrowed funds used during construction	(3.7)	(3.9)	(11.9)	(10.7)
Interest on short-term debt and other interest charges	(2.7)	4.4	9.3	15.1
Interest expense	54.2	54.1	174.4	160.4
INCOME BEFORE TAXES	294.2	270.7	510.6	431.3
INCOME TAX EXPENSE	51.3	45.7	89.0	71.8
NET INCOME	$242.9	$225.0	$421.6	$359.5
Other comprehensive income, net of tax	—	—	—	—
COMPREHENSIVE INCOME	$242.9	$225.0	$421.6	$359.5

CONDENSED STATEMENTS OF CASH FLOWS

	Nine Months Ended September 30,
(In millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$421.6	$359.5
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	424.7	408.7
Deferred income taxes and other tax credits, net	16.6	19.7
Allowance for equity funds used during construction	(19.3)	(18.2)
Stock-based compensation expense	10.1	8.6
Regulatory assets	(39.6)	(37.3)
Regulatory liabilities	0.8	(8.4)
Other assets	(20.0)	(21.3)
Other liabilities	21.2	38.4
Change in certain current assets and liabilities:
Accounts receivable and accrued unbilled revenues, net	(217.4)	(136.7)
Fuel, materials and supplies inventories	48.3	51.6
Fuel recoveries	74.9	(47.4)
Other current assets	10.3	(10.0)
Accounts payable	4.6	(32.5)
Income taxes payable - parent	13.7	51.6
Other current liabilities	50.3	97.8
Net cash provided from operating activities	800.8	724.1
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (less allowance for equity funds used during construction)	(752.7)	(794.3)
Cost of removal	(52.5)	(54.9)
Net cash used in investing activities	(805.2)	(849.2)
CASH FLOWS FROM FINANCING ACTIVITIES
Changes in advances with parent	(77.4)	(216.8)
Proceeds from long-term debt	344.4	351.7
Payment of long-term debt	(32.5)	(0.1)
Dividends paid on common stock	(380.0)	—
Capital contribution from OGE Energy	150.0	—
Net cash provided from financing activities	4.5	134.8
NET CHANGE IN CASH AND CASH EQUIVALENTS	0.1	9.7
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	0.2	0.2
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$0.3	$9.9

CONDENSED BALANCE SHEETS

	September 30,	December 31,
(In millions)	2025	2024
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$0.3	$0.2
Accounts receivable, less reserve of $2.3 and $2.0, respectively	438.4	240.1
Accrued unbilled revenues	93.7	74.6
Fuel inventories	123.2	148.3
Materials and supplies, at average cost	219.1	229.4
Fuel clause under recoveries	38.5	112.7
Other	72.9	83.2
Total current assets	986.1	888.5
OTHER PROPERTY AND INVESTMENTS	4.3	4.5
PROPERTY, PLANT AND EQUIPMENT
In service	16,970.0	16,248.5
Construction work in progress	708.8	814.2
Total property, plant and equipment	17,678.8	17,062.7
Less: accumulated depreciation	5,166.5	4,982.2
Net property, plant and equipment	12,512.3	12,080.5
DEFERRED CHARGES AND OTHER ASSETS
Regulatory assets	546.7	568.1
Other	65.3	39.7
Total deferred charges and other assets	612.0	607.8
TOTAL ASSETS	$14,114.7	$13,581.3

CONDENSED BALANCE SHEETS (Continued)

	September 30,	December 31,
(In millions)	2025	2024
LIABILITIES AND STOCKHOLDER'S EQUITY
CURRENT LIABILITIES
Accounts payable	$271.6	$272.2
Advances from parent	53.9	247.6
Customer deposits	122.8	111.1
Accrued taxes	74.3	51.4
Accrued interest	75.4	61.4
Accrued compensation	51.5	53.0
Long-term debt due within one year	—	32.4
Fuel clause over recoveries	10.0	9.3
Other	45.0	41.8
Total current liabilities	704.5	880.2
LONG-TERM DEBT	4,960.9	4,614.3
DEFERRED CREDITS AND OTHER LIABILITIES
Accrued benefit obligations	90.5	102.2
Deferred income taxes	1,472.1	1,410.7
Deferred investment tax credits	10.0	10.6
Regulatory liabilities	971.2	1,016.4
Other	247.4	220.5
Total deferred credits and other liabilities	2,791.2	2,760.4
Total liabilities	8,456.6	8,254.9
COMMITMENTS AND CONTINGENCIES (NOTE 12)
STOCKHOLDER'S EQUITY
Common stockholder's equity	1,749.6	1,589.5
Retained earnings	3,908.5	3,736.9
Total stockholder's equity	5,658.1	5,326.4
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$14,114.7	$13,581.3

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY

	Common Stock
(In millions)	Shares	Value	Premium on Common Stock	Retained Earnings	Total
Balance at December 31, 2024	40.4	$100.9	$1,488.6	$3,736.9	$5,326.4
Net income	—	—	—	71.0	71.0
Stock-based compensation	—	—	3.0	—	3.0
Balance at March 31, 2025	40.4	$100.9	$1,491.6	$3,807.9	$5,400.4
Net income	—	—	—	107.7	107.7
Capital contribution from OGE Energy	—	—	150.0	—	150.0
Stock-based compensation	—	—	3.6	—	3.6
Balance at June 30, 2025	40.4	$100.9	$1,645.2	$3,915.6	$5,661.7
Net income	—	—	—	242.9	242.9
Dividends declared on common stock	—	—	—	(250.0)	(250.0)
Stock-based compensation	—	—	3.5	—	3.5
Balance at September 30, 2025	40.4	$100.9	$1,648.7	$3,908.5	$5,658.1
Balance at December 31, 2023	40.4	$100.9	$1,476.8	$3,397.0	$4,974.7
Net income	—	—	—	25.2	25.2
Stock-based compensation	—	—	3.2	—	3.2
Balance at March 31, 2024	40.4	$100.9	$1,480.0	$3,422.2	$5,003.1
Net income	—	—	—	109.3	109.3
Stock-based compensation	—	—	3.4	—	3.4
Balance at June 30, 2024	40.4	$100.9	$1,483.4	$3,531.5	$5,115.8
Net income	—	—	—	225.0	225.0
Stock-based compensation	—	—	2.1	—	2.1
Balance at September 30, 2024	40.4	$100.9	$1,485.5	$3,756.5	$5,342.9

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