ONCOR REPORTS FIRST QUARTER 2023 RESULTS

DALLAS, May 4, 2023 /PRNewswire/ -- Oncor Electric Delivery Company LLC ("Oncor") today reported three months ended March 31, 2023 net income of $103 million compared to reported three months ended March 31, 2022 net income of $194 million. The $91 million quarter-over-quarter decrease was driven by a write-off of certain rate base disallowances recorded in the first quarter of 2023 resulting from the Public Utility Commission of Texas' ("PUCT") final order in Oncor's comprehensive base rate review, lower revenues from decreased customer consumption attributable primarily to milder weather and increases in costs associated with additional investments (primarily depreciation and borrowing costs) and higher operation and maintenance expense, partially offset by higher revenues from updates to base transmission billing factors, transmission rate updates to reflect increases in invested capital and customer growth. Financial and operational results are provided in Tables A, B, C, and D below.