Ameren Focused Energy. For Life.

Shareholders

HOW are we performing?

As part of our sustainability initiative, Ameren has sought to assess our performance—what we’re doing well and what we can do better. Members of Ameren’s internal corporate social responsibility Steering Committee collaborated to consider enterprise-level categories, areas of success and areas for improvement. Additional guidance was provided by our Executive Leadership Team and subject-matter experts. In this area, we asked, “Has Ameren provided sufficient returns to shareholders?” Our assessment covers the past several years and is current through March 1, 2016.

Priorities Successes Opportunities

Attractive, predictable returns

Allocating capital to the growth opportunities that are under modern, constructive regulatory frameworks that provide opportunity to achieve fair returns for investors.

Shareholders have seen a total shareholder return of 60% over the three-year period from Dec. 31, 2012, through Dec. 31, 2015, performance that put us among the leaders in the utility industry. Since 2013, our core earnings per diluted share grew 22%.

100-plus years of uninterrupted cash dividends.

Improving total shareholder returns; Ameren has yet to consistently achieve top-tier TSR performance over a sustained period.

Modernizing Missouri regulatory framework to encourage investment and mitigate regulatory lag.

Earnings and dividend growth

~7% core earnings per share growth in 2015.*

Expect 5% to 8% compound annual earnings per share growth from 2016 through 2020.*

3.7% dividend rate increase in 2015.

 Achieving consistent earnings and dividend growth over a sustained period.

Solid financial management

Cost control and effective management of business risk have improved Ameren’s credit metrics that support our credit ratings, enabling Ameren to access debt at competitive rates.

Managing our business consistent with existing regulatory frameworks.

Improvement in regulatory frameworks to mitigate regulatory lag in Missouri.

Continuing to focus on opportunities related to the principles of Lean, a system for process improvement.

* Issued and effective as of Feb. 19, 2016, Earnings Conference Call.

  
2015 Market Price: Common Stock

37.26

Low

46.81

High

43.23

Year End

Annualized Dividend

6.25
%

Since 2013

Core Earnings Per Diluted Share

22
%

Since 2013

See below for a reconciliation of GAAP to core earnings per diluted share.
Ameren outperforms peers

Outperforming our Peers

Three-Year Total Cumulative Shareholder Return (12.31.12 through 12.31.15)

  • GAAP to Core Earnings Reconciliations

    • 2013
    • 2014
    • 2015

  • GAAP earnings per diluted share

    • 1.18
    • 2.40
    • 2.59

  • Exclude results from discontinued operations

    • 0.92
    • —
    • (0.21)

  • Exclude provision for discontinuing pursuit of a license for a second nuclear unit at the Callaway Energy Center (included in continuing operations)

    • —
    • —
    • 0.18

  • Core earnings per diluted share

    • 2.10
    • 2.40
    • 2.56