OGE Energy Corp

Good day, and thank you for standing by. Welcome to the OGE Energy Corp 2025 Fourth Quarter Earnings and Business Update Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To answer your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to turn the conference over to your speaker for today, Casey Strange, Investor Relations, Senior Manager. Please go ahead.

Thank you, Lisa, and good morning, everyone, and welcome to our call. With me today, I have Sean Trosky, our Chairman, President, and CEO, and Chuck Walworth, our CFO. In terms of the call today, we will first hear from Sean, followed by an explanation from Chuck of financial results. And finally, as always, we will answer your questions. I would like to remind you that this conference is being webcast and you may follow along at OGE.com. In addition, the conference call and accompanying slides will be archived following the call on that same website. Before we begin the presentation, I would like to direct your attention to the safe harbor statement regarding forward-looking statements. This is an SEC requirement for financial statements and simply states that we cannot guarantee forward-looking financial results but this is our best estimate to date. I will now turn the call over to Sean for his opening remarks. Sean?

Thank you, Casey. Good morning, everyone, and thank you for joining us today. It's certainly great to be with you. 2025 was another strong year and a continuation of the momentum we are building and setting the foundation for a long runway of future growth with generation and transmission opportunities. This morning, we reported consolidated earnings of $2.32 per share for the year, including $2.47 per share at the electric company and a holding company loss of 15 cents. This time last year, we talked about how we would deliver in 2025, and we did, including delivering earnings in the top half of guidance, filed for recovery of generation needs to meet growing demand, secured financing for long-term growth, leveraged the strong local economies to drive job growth and investment in our service area. We were named an Oklahoma Top Workplace, and we were recognized by the Southeast Electric Exchange for our top-ranked safety performance. We remain committed to our North Star of reliable electricity at some of the lowest costs in the nation. We met our commitments in Moore, strengthened our financial position, and continued investing in reliability and growth while keeping affordability front and center for our customers. lengthening that runway for continued future growth. Since our last call, we executed a well-subscribed equity offering, filed for generation pre-approval of the 300 megawatt Frontier Energy Storage Project, issued two RFPs, and a 2026 draft IRP. And as a look ahead for the remainder of 2026, we will advance our transmission strategy and finalize the opportunities from the SPP ITP. recognizing its critical role in reliability and its growing contribution to long-term investment opportunities. We'll secure approval for the Frontier Energy Storage Project in both states, and we'll file for generation pre-approval in both jurisdictions following the results of the RFP we issued last month. And we do plan to file a rate review mid-year in Oklahoma, and we'll evaluate the timing of an Arkansas rate review later in the year. Building on these strong financial results, we continue to invest in our future and strengthen our commitment to the communities we serve. In line with this momentum, tomorrow we will host a ribbon cutting for our new combustion turbines at Tinker Air Force Base. These new units showcase our ongoing investments and community partnerships to benefit all customers, and in this case, provide vital support to our country's national defense. Over the last 10 years, We built and put into service approximately one gigawatt of generation. Tomorrow, we cut the first ribbon on the next 1.3 gigawatts of generation we will build and put into service before the end of the decade. Yesterday, we issued our draft 2026 IRP, which outlines our long-term resource strategy. And we are finalizing a one gigawatt contract with one data center customer, referenced as Customer X in the IRP, and we'll also file a large load tariff, both of these by mid-year. Across these initiatives, our priority remains protecting residential customers, and we have built explicit consumer protection measures into that framework. In addition, we continue to advance our transmission strategy, and earlier this month, the SPP determined that several large transmission projects will be considered short-term reliability projects, meaning that OG&E was assigned a significant portion of the Seminole to Shreveport 765 line. After we work through the notice to construct process at SPP, we will update our investment timing and financing plans. We're discussing a number of exciting growth opportunities today, and I want to remind you that our Sustainable Business Models Foundation is our low rates. Our relentless commitment to affordability translates to our rates as the lowest in the states we operate, lower in our region, and among the lowest rates in the country. And from a cost control perspective, our O&M per customer growth over the last decade is less than 1%. We remain committed to delivering reliable electricity to all those customers at low rates. And finally, before I turn the call over to Chuck, I want to recognize our incredible employees whose dedication makes these results possible. Every day, they bring a relentless focus on efficiency and affordability, helping us deliver reliable service while keeping rates among the lowest in the nation for the communities we serve. Next week, OG&E will celebrate its 124th birthday. We're a company innovating for the future with a solid foundation built over time. With that, thank you, and Chuck, I'll turn the call over to you.