# EDGAR Filing Document

**Accession Number:** 0001193311
**File Stem:** 0001193125-25-175004
**Filing Date:** 2025-8
**Character Count:** 54851
**Document Hash:** 8c8a7c5a1fb22c1d5c5286bfbf932882
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-175004.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001193125-25-175004

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20250807

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ONCOR ELECTRIC DELIVERY CO LLC
- **CENTRAL INDEX KEY:** 0001193311
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 752967830
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-100240
- **FILM NUMBER:** 251191780

**BUSINESS ADDRESS:**
- **STREET 1:** 1616 WOODALL RODGERS FWY
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75202
- **BUSINESS PHONE:** 214-486-2000

**MAIL ADDRESS:**
- **STREET 1:** 1616 WOODALL RODGERS FWY
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ONCOR ELECTRIC DELIVERY CO
- **DATE OF NAME CHANGE:** 20070425

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TXU ELECTRIC DELIVERY CO
- **DATE OF NAME CHANGE:** 20040714

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ONCOR ELECTRIC DELIVERY CO
- **DATE OF NAME CHANGE:** 20020926

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### Form 8-K

#### Current Report

#### Pursuant to Section 13 or 15(d)

#### of The Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported) - August 7, 2025

## ONCOR ELECTRIC DELIVERY COMPANY LLC

#### (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **DELAWARE** | **333-100240** | **75-2967830** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

#### 1616 Woodall Rodgers Fwy., Dallas, Texas 75202

#### (Address of principal executive offices, including zip code)

#### Registrant's telephone number, including area code - (214) 486-2000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol** | **Name of each exchange**<br> **on which registered** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| **ITEM 2.02** | **RESULTS OF OPERATIONS AND FINANCIAL CONDITION.**  |

---

On August 7, 2025, Oncor Electric Delivery Company LLC ("Oncor") issued a press release discussing its financial results for the three and six months ended June 30, 2025. The press release is furnished herewith as Exhibit 99.1.

---

| | |
|:---|:---|
| **ITEM 7.01** | **REGULATION FD DISCLOSURE.**  |

---

On August 7, 2025, Sempra, the indirect owner of a majority of Oncor's outstanding equity interests, distributed a slide presentation containing certain information relating to Oncor. Slides containing information related to Oncor are furnished herewith as Exhibit 99.2. References in the slides to "Sempra Texas" refer to Sempra's indirect 80.25% ownership interest in Oncor and its indirect 50% ownership interest in Sharyland Utilities, L.L.C.

The slide presentation was distributed in connection with Sempra's discussion of its financial results for the three and six months ended June 30, 2025, which is being webcast live at 12 pm ET on August 7, 2025. Oncor executives will participate in the webcast. The webcast will be available on Sempra's website at www.sempra.com. A replay of the webcast will also be available on Sempra's website a few hours after its conclusion.

*In accordance with General Instruction B.2 of Form 8-K, the information presented herein under Item 2.02 and Item 7.01 and set forth in the attached Exhibit 99.1 and Exhibit 99.2 shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and is not to be incorporated by reference into any filing of Oncor under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.* 

<u>Forward-Looking Statements</u>

The press release and the slide presentation contain forward-looking statements relating to Oncor within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. All statements, other than statements of historical facts, that are included in the press release and the slides, as well as statements made in presentations, in response to questions or otherwise, that address activities, events or developments that Oncor expects or anticipates to occur in the future, including such matters as projections, capital allocation, future capital expenditures, business strategy, competitive strengths, goals, future acquisitions or dispositions, development or operation of facilities, market and industry developments and the growth of Oncor's business and operations (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely result," "expects," "is expected to," "will continue," "is anticipated," "estimated," "forecast," "should," "projection," "target," "goal," "objective" and "outlook"), are forward-looking statements. Although Oncor believes that in making any such forward-looking statement its expectations are based on reasonable assumptions, any such forward-looking statement involves risks, uncertainties and assumptions. Factors that could cause Oncor's actual results to differ materially from those projected in such forward-looking statements include: legislation, governmental policies and orders, and regulatory actions; legal and administrative proceedings and settlements, including the exercise of equitable powers by courts; weather conditions and other natural phenomena, including severe weather events, natural disasters or wildfires; cyber-attacks on Oncor or Oncor's third-party vendors; changes in expected Electric Reliability Council of Texas, Inc. ("ERCOT") and service territory growth; changes in, or cancellations of, anticipated projects, including customer requested interconnection projects; physical attacks on Oncor's system, acts of sabotage, wars, terrorist activities, wildfires, fires, explosions, natural disasters, hazards customary to the industry, or other emergency events; Oncor's ability to obtain adequate insurance on reasonable terms and the possibility that it may not have adequate insurance to cover all losses incurred by Oncor or third-party liabilities; adverse actions by credit rating agencies; health epidemics and pandemics, including their impact on Oncor's business and the economy in general; interrupted or degraded service on key technology platforms, facilities failures, or equipment interruptions; economic conditions, including the impact of a recessionary environment, inflation, foreign policy and global trade restrictions; supply chain disruptions, including as a result of tariffs, global trade disruptions, competition for goods and services, and service provider availability; unanticipated

------

changes in electricity demand in ERCOT or Oncor's service territory; ERCOT grid needs and ERCOT market conditions, including insufficient electricity generation within the ERCOT market or disruptions at power generation facilities that supply power within the ERCOT market; changes in business strategy, development plans or vendor relationships; changes in interest rates, foreign currency exchange rates, or rates of inflation; significant changes in operating expenses, liquidity needs and/or capital expenditures; inability of various counterparties to meet their financial and other obligations to Oncor, including failure of counterparties to timely perform under agreements; general industry and ERCOT trends; significant decreases in demand or consumption of electricity delivered by Oncor, including as a result of increased consumer use of third-party distributed energy resources or other technologies; changes in technology used by and services offered by Oncor; changes in employee and contractor labor availability and cost; significant changes in Oncor's relationship with its employees, and the potential adverse effects if labor disputes or grievances were to occur; changes in assumptions used to estimate costs of providing employee benefits, including pension and other postretirement employee benefits, and future funding requirements related thereto; significant changes in accounting policies or critical accounting estimates material to Oncor; commercial bank and financial market conditions, macroeconomic conditions, access to capital, the cost of such capital, and the results of financing and refinancing efforts, including availability of funds and the potential impact of any disruptions in U.S. or foreign capital and credit markets; financial market volatility and the impact of volatile financial markets on investments, including investments held by Oncor's pension and other postretirement employee benefit plans; circumstances which may contribute to future impairment of goodwill, intangible or other long-lived assets; Oncor's adoption and deployment of artificial intelligence; financial and other restrictions under Oncor's debt agreements; Oncor's ability to generate sufficient cash flow to make interest payments on its debt instruments; and Oncor's ability to effectively execute its operational and financing strategy.

Further discussion of risks and uncertainties that could cause actual results to differ materially from management's current projections, forecasts, estimates and expectations is contained in filings made by Oncor with the U.S. Securities and Exchange Commission. Specifically, Oncor makes reference to the section entitled "Risk Factors" in its annual and quarterly reports. Any forward-looking statement speaks only as of the date on which it is made, and, except as may be required by law, Oncor undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for Oncor to predict all of them; nor can it assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. As such, you should not unduly rely on such forward-looking statements.

---

| | |
|:---|:---|
| **ITEM 9.01** | **FINANCIAL STATEMENTS AND EXHIBITS.**  |

---

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit**<br> **No.** | **Description** |
| 99.1 | [Press release issued on August 7, 2025.](d932252dex991.htm) |
| 99.2 | [Presentation slides distributed on August 7, 2025.](d932252dex992.htm) |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |

---

------

#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **ONCOR ELECTRIC DELIVERY COMPANY LLC** | **ONCOR ELECTRIC DELIVERY COMPANY LLC** |
| By: | /s/ Kevin R. Fease |
| Name: | Kevin R. Fease |
| Title: | Vice President and Treasurer |

---

Dated: August 7, 2025

## Exhibit 99.1

**Exhibit 99.1**![LOGO](g932252g0807054334301.jpg)

**NEWS RELEASE** 

**For additional information, contact:** 

**Oncor Communications: 877.426.1616** 

**Oncor Investor Relations: 214.486.6035** 

**<u>ONCOR REPORTS SECOND QUARTER 2025 RESULTS</u>**

**DALLAS (August 7, 2025)** — Oncor Electric Delivery Company LLC (Oncor) today reported net income of $259 million for the three months ended June 30, 2025, compared to net income of $251 million in the three months ended June 30, 2024. The increase in net income of $8 million was driven by overall higher revenues primarily attributable to updated interim rates to reflect increases in invested capital, an increase in other regulated revenues recognized related to Oncor's system resiliency plan (SRP) and the unified tracker mechanism (UTM) established by Texas House Bill 5247, and customer growth, partially offset by higher interest expense and depreciation expense associated with increases in invested capital, and higher operation and maintenance expense. Financial and operational results are provided in Tables A, B, C, D, and E below.

"As we move through the peak summer season, our team remains steadfast in its commitment to safely delivering reliable power to the more than 13 million Texans we serve," said Oncor CEO Allen Nye. "We work year-round to strengthen and modernize our system to meet the growing demands across our expanding service territory. This past quarter, Oncor filed a rate case to recover historical storm-related costs, support the recruitment, training, and safety of our large and active workforce, and secure materials and equipment at an unprecedented scale. A constructive outcome, combined with supportive legislation passed during the 89th Texas Legislature, will enhance our financial strength and position Oncor to raise the capital necessary to serve our customers and the State during this period of exceptional growth in Texas."

Oncor also reported net income of $440 million for the six months ended June 30, 2025, compared to net income of $476 million in the six months ended June 30, 2024. The decrease in net income of $36 million was driven by higher interest expense and depreciation expense associated with increases in invested capital and higher operation and maintenance expense, partially offset by overall higher revenues primarily attributable to updated interim rates to reflect increases in invested capital, customer growth, an increase in other regulated revenues recognized related to the SRP and the establishment of the UTM, and higher customer consumption primarily attributable to weather.

------

**Operational Highlights** 

During the second quarter, Oncor continued work on its company record $7.1 billion annual capital expenditure plan for 2025. Key operational updates during the second quarter included implementation of important components of Oncor's SRP, such as, enhanced wildfire risk modeling, completion of approximately 2,000 miles of resiliency assessments (primarily in wildfire mitigation zones), and the acquisition of approximately 20,000 miles of LiDAR data and 2,800 miles of drone imagery.

Additionally, Oncor's team has been hard at work on planning and other pre-construction work related to the 765 kV Electric Reliability Council of Texas, Inc. (ERCOT) Strategic Transmission Expansion Plan (STEP), including Oncor's import lines in the Permian Basin Reliability Plan (PBRP), and submitting the remainder of the 765 kV Eastern portion of STEP to the ERCOT Regional Planning Group in conjunction with other utilities. The joint filings for the Eastern portion of STEP outline approximately $10 billion of projects. The joint filings did not address the remaining lower voltage transmission system upgrades and new transmission facilities needed, which ERCOT estimates will have a cost of $8 – $10 billion. Oncor anticipates it will be responsible for building a significant amount of the total Eastern portion of STEP. During the quarter Oncor filed four new Certificates of Convenience and Necessity (CCNs) for needed transmission projects building on the seven CCNs filed in the first quarter of 2025. Four previously filed projects also received regulatory approvals in the second quarter, clearing the way for new substations and line upgrades to proceed.

In the second quarter of 2025, Oncor built, rebuilt, or upgraded approximately 590 circuit miles of transmission and distribution lines and increased premises by nearly 20,000, reflecting ongoing population and business growth in Texas. Active transmission point-of-interconnection (POI) requests continued to rise in the second quarter, remaining well above year-ago levels. As of June 30, 2025, Oncor's active large commercial and industrial (LC&I) interconnection queue was approximately 38% higher than at the same time last year. As of June 30, 2025, Oncor's active LC&I interconnection queue had 552 requests, which includes approximately 186 gigawatts from data centers and over 19 gigawatts of load from diverse industrial sectors demonstrating broad-based industrial growth within Oncor's service territory. Of the 570 active generation POI requests in queue at June 30, 2025, approximately 49% were storage, 40% were solar, 7% were wind, and 4% were gas.

Oncor is currently in the process of updating its annual capital plan, including assessing the impact of accelerated timelines for critical transmission infrastructure and system upgrades. The company previously announced a $36.1 billion capital plan for the 2025–2029 period and now anticipates that incremental capital expenditures over that timeframe could exceed $12 billion, particularly in the later years of the plan.

Oncor expects to present an initial view of its new five-year capital plan for 2026–2030 to its Board of Directors in October, with a public announcement of the final updated plan anticipated in the first quarter of 2026.

------

**Legislative Outcomes** 

The Texas Legislature concluded its regular session on June 2, 2025, with several key legislative outcomes that Oncor believes will positively impact the company and its customers. In particular, Oncor believes Texas House Bill 5247 provides benefits to many of its stakeholders. This bill allows qualifying electric utilities such as Oncor to record costs to a regulatory asset arising from eligible capital investment and apply for interim rate adjustments through an annual UTM filing. The UTM is expected to benefit residential customers by ensuring that new large load customers coming to the Oncor system have costs allocated to them appropriately. The UTM also provides deadlines for the timely completion of PBRP and, by combining six annual filings into one as well as extending the deadline for review by the Public Utility of Commission of Texas (PUCT), should reduce the workload for the PUCT.

Oncor plans to make its first UTM filing in the first half of 2026, after the completion of its rate case. In the meantime, Oncor has begun recognizing revenues associated with qualifying investments for eligible transmission and distribution infrastructure placed in service after December 31, 2024.

The Texas Legislature also passed several new laws and approved significant funding to reduce the risks of wildfires and better prepare the state and local governments to rapidly respond to a wildfire, including a requirement in Texas House Bill 145 that utilities file a wildfire mitigation plan with the PUCT. The PUCT has initiated a rule-making to implement Texas House Bill 145, and Oncor plans to submit its wildfire mitigation plan for approval upon the completion of the PUCT's rule-making.

**Regulatory Update** 

On June 26, 2025, Oncor filed a comprehensive base rate review request with the PUCT and the 210 cities in its service territory that have retained original jurisdiction over rates to adjust electric delivery rates (PUCT Docket No. 58306). The primary drivers of the rate increase requested in the filing are increased storm restoration expenses, rising material and labor costs, higher insurance premiums, and other inflationary pressures experienced by Oncor since 2021, the historical test year of its last rate review, as well as modifications to support Oncor's ongoing capital investment program and maintain reliable service amid rapid customer and infrastructure growth. Oncor expects a regulatory decision in the first quarter of 2026. On July 8, 2025, Oncor filed a request for a partial interim adjustment of rates to begin to recover some of the increased costs while the case is pending, subject to refund or surcharge to the extent the interim rates differ from the final rates approved by the PUCT.

**Liquidity and Credit Update** 

As of August 6, 2025, Oncor's available liquidity totaled approximately $3.9 billion, consisting of cash on hand and available borrowing capacity under its credit facilities, commercial paper programs, and accounts receivable facility. Oncor anticipates these resources, combined with projected cash flows from operations and future financing activities, will be sufficient to meet capital expenditures, maturities of long-term debt, and other operational needs for at least the next twelve months.

------

On July 29, 2025, S&P Global Ratings (S&P) downgraded Oncor's issuer credit rating from "A" to "A-," citing elevated wildfire risk as a result of changing climate conditions and the absence of liability caps or affirmative legal defenses in Texas. S&P also revised Oncor's outlook from "negative" to "stable." In its press release, S&P noted that it expects Oncor's financial measures to benefit from ratemaking changes implemented under Texas House Bill 5247. S&P also noted that its base case assumes that Oncor receives a constructive rate case order.

**Sempra Internet Broadcast Today** 

Sempra (NYSE: SRE) will broadcast a live discussion of its earnings results over the Internet today at 12 p.m. ET, which will include discussion of second quarter 2025 results and other information relating to Oncor. Oncor executives will also participate in the broadcast. Access to the broadcast is available by logging onto the Investors section of Sempra's website, <u>sempra.com/investors</u>. Prior to the conference call, an accompanying slide presentation will be posted on <u>sempra.com/investors</u>. For those unable to participate in the live webcast, it will be available on replay a few hours after its conclusion at <u>sempra.com/investors</u>.

**Quarterly Report on Form 10-Q** 

Oncor's Quarterly Report on Form 10-Q for the period ended June 30, 2025 will be filed with the U.S. Securities and Exchange Commission after Sempra's conference call and once filed, will be available on Oncor's website, <u>oncor.com</u>.

**About Oncor** 

Headquartered in Dallas, Oncor Electric Delivery Company LLC is a regulated electricity transmission and distribution business that uses superior asset management skills to provide reliable electricity delivery to consumers. Oncor (together with its subsidiaries) operates the largest transmission and distribution system in Texas, delivering electricity to more than 4 million homes and businesses and operating more than 144,000 circuit miles of transmission and distribution lines in Texas. While Oncor is owned by two investors (indirect majority owner, Sempra, and minority owner, Texas Transmission Investment LLC), Oncor is managed by its Board of Directors, which is comprised of a majority of disinterested directors.

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**Oncor Electric Delivery Company LLC** 

**Table A – Condensed Statements of Consolidated Income (Unaudited)** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** |
|  Operating revenues | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3202 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2950 |
|  Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Wholesale transmission service | 367 | 351 | 720 | 702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Operation and maintenance | 368 | 295 | 738 | 594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization | 290 | 261 | 577 | 518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Provision in lieu of income taxes | 55 | 53 | 94 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taxes other than amounts related to income taxes | 142 | 136 | 289 | 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total operating expenses | 1222 | 1096 | 2418 | 2194 |
|  Operating income | 432 | 396 | 784 | 756 |
|  Other (income) and deductions – net | (19) | (16) | (32) | (30) |
|  Non-operating benefit in lieu of income taxes |  |  | (1) | (1) |
|  Interest expense and related charges | 192 | 161 | 377 | 311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income | $259 | $251 | $440 | $476 |

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**Oncor Electric Delivery Company LLC** 

**Table B – Condensed Statements of Consolidated Cash Flows (Unaudited)** 

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| | | |
|:---|:---|:---|
|  | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
|  | **2025** | **2024** |
|  | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** |
|  Cash flows – operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net income | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to reconcile net income to cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization, including regulatory amortization | 659 | 602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision in lieu of deferred income taxes – net | 77 | 57 |
| &nbsp;&nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable | (48) | (202) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories | (79) | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable – trade | 24 | 162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regulatory assets – recoverable SRP | (70) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regulatory assets – recoverable UTM | (19) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regulatory under/over recoveries – net | 6 | (51) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regulatory assets – self-insurance reserve | (146) | (236) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Customer deposits | 33 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension and OPEB plans | (132) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other – assets | (102) | (150) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other – liabilities | (49) | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash provided by operating activities | 594 | 638 |
|  Cash flows – financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Issuances of senior secured notes | 3105 | 1442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repayments of senior secured notes | (350) | (500) |
| &nbsp;&nbsp;&nbsp;&nbsp; Borrowings under AR Facility | 510 | 540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repayments under AR Facility | (510) | (400) |
| &nbsp;&nbsp;&nbsp;&nbsp; Borrowings under $500M Credit Facility |  | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payment for senior secured notes extinguishment | (441) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in short-term borrowings | (594) | (282) |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital contributions from members | 1210 | 480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to members | (354) | (251) |
| &nbsp;&nbsp;&nbsp;&nbsp; Debt premium, discount, financing and reacquisition costs – net | (38) | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash provided by financing activities | 2538 | 1514 |
|  Cash flows – investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital expenditures | (2821) | (2196) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sales tax audit settlement refund |  | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other – net | 22 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash used in investing activities | (2799) | (2120) |
|  Net change in cash, cash equivalents and restricted cash | 333 | 32 |
|  Cash, cash equivalents and restricted cash – beginning balance | 262 | 151 |
|  Cash, cash equivalents and restricted cash – ending balance | $595 | $183 |

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**Oncor Electric Delivery Company LLC** 

**Table C – Condensed Consolidated Balance Sheets (Unaudited)** 

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| | | |
|:---|:---|:---|
|  | **At June 30,**<br>**2025** | **At December 31,**<br>**2024** |
|  | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** |
| **ASSETS** | **ASSETS** | **ASSETS** |
|  Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | $340 | $36 |
| &nbsp;&nbsp;&nbsp;&nbsp; Restricted cash, current | 11 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable – net | 1026 | 970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amounts receivable from members related to income taxes | 30 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp; Materials and supplies inventories – at average cost | 541 | 462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prepayments and other current assets | 165 | 124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets | 2113 | 1642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Restricted cash, noncurrent | 244 | 206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments and other property | 185 | 183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Property, plant and equipment – net | 34171 | 31769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goodwill | 4740 | 4740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regulatory assets | 1817 | 1671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Right-of-use operating lease assets | 231 | 209 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other noncurrent assets | 77 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43578 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40451 |
| **LIABILITIES AND MEMBERSHIP INTERESTS** | **LIABILITIES AND MEMBERSHIP INTERESTS** | **LIABILITIES AND MEMBERSHIP INTERESTS** |
|  Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-term borrowings | $- | $594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accounts payable – trade | 966 | 770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amounts payable to members related to income taxes | 17 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued taxes other than amounts related to income | 171 | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued interest | 173 | 149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Operating lease and other current liabilities | 328 | 367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current liabilities | 1655 | 2183 |
|  Long-term debt, noncurrent | 17605 | 15234 |
|  Liability in lieu of deferred income taxes | 2658 | 2552 |
|  Regulatory liabilities | 2960 | 2973 |
|  Employee benefit plan obligations | 1235 | 1384 |
|  Operating lease obligations | 211 | 193 |
|  Other noncurrent obligations | 376 | 302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 26700 | 24821 |
|  Commitments and contingencies |  |  |
|  Membership interests: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital account – number of units outstanding at June 30, 2025 and December 31, 2024 – 635,000,000 | 17110 | 15814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accumulated other comprehensive loss | (232) | (184) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total membership interests | 16878 | 15630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and membership interests | $43578 | $40451 |

---

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**Oncor Electric Delivery Company LLC** 

**Table D – Operating Statistics** 

**Mixed Measures** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Twelve Months Ended June 30,** | **Twelve Months Ended June 30,** | |
|  | **2025** | **2024** | **%**<br> **Change** |
|  **Reliability statistics (a):** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; System Average Interruption Duration Index (SAIDI) (non-storm) | 79.4 | 70.4 | 12.8 |
| &nbsp;&nbsp;&nbsp;&nbsp; System Average Interruption Frequency Index (SAIFI) (non-storm) | 1.1 | 1 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp; Customer Average Interruption Duration Index (CAIDI) (non-storm) | 70.9 | 72.6 | (2.3) |
|  **Electricity points of delivery (end of period and in thousands):** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Electricity distribution points of delivery (based on number of active meters) | 4084 | 4008 | 1.9 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended**<br>**June 30,** | **Three Months Ended**<br>**June 30,** | | **Six Months Ended**<br>**June 30,** | **Six Months Ended**<br>**June 30,** | |
|  | **2025** | **2024** | **Increase**<br>**(Decrease)** | **2025** | **2024** | **Increase**<br>**(Decrease)** |
|  **Residential system weighted weather data (b):** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cooling degree days | 570 | 652 | (82) | 598 | 677 | (79) |
| &nbsp;&nbsp;&nbsp;&nbsp; Heating degree days | 17 | 6 | 11 | 589 | 459 | 130 |
|  | **Three Months Ended**<br>**June 30,** | **Three Months Ended**<br>**June 30,** | **%** | **Six Months Ended**<br>**June 30,** | **Six Months Ended**<br>**June 30,** | **%** |
|  | **2025** | **2024** | **Change** | **2025** | **2024** | **Change** |
|  **Operating statistics:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric energy volumes (gigawatt-hours) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential | 11280 | 11432 | (1.3) | 22533 | 21896 | 2.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial, industrial, small business and other | 30946 | 28911 | 7.0 | 58699 | 55760 | 5.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total electric energy volumes | 42226 | 40343 | 4.7 | 81232 | 77656 | 4.6 |

---

(a) SAIDI is the average number of minutes electric service is interrupted per consumer in a twelve-month period. SAIFI is the
average number of electric service interruptions per consumer in a twelve-month period. CAIDI is the average duration in minutes per electric service interruption in a twelve-month period. In each case, our non-storm reliability performance reflects electric service interruptions of one minute or more per customer. Each of these results excludes outages during significant storm events.

(b) Degree days are measures of how warm or cold it is throughout our service territory. A degree day compares the average of
the hourly outdoor temperatures during each day to a 65° Fahrenheit standard temperature. The more extreme the outside temperature, the higher the number of degree days. A high number of degree days generally results in higher levels of energy
use for space cooling or heating.

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**Oncor Electric Delivery Company LLC** 

**Table E – Operating Revenues** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | |
|  | **2025** | **2024** | **$**<br>**Change** | **2025** | **2024** | **$**<br>**Change** |
|  | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** | **(U.S. dollars in millions)** |
|  **Operating revenues** |  |  |  |  |  |  |
|  **Revenues contributing to earnings:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Revenues from contracts with customers |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distribution base revenues |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential (a) | $387 | $358 | $29 | $762 | $687 | $75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large commercial & industrial (b) | 335 | 312 | 23 | 667 | 617 | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other (c) | 32 | 30 | 2 | 62 | 60 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distribution base revenues (d) | 754 | 700 | 54 | 1491 | 1364 | 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transmission base revenues (TCOS revenues) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Billed to third-party wholesale customers | 280 | 263 | 17 | 533 | 525 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Billed to REPs serving Oncor distribution customers, through TCRF | 155 | 144 | 11 | 295 | 287 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total TCOS revenues | 435 | 407 | 28 | 828 | 812 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other miscellaneous revenues | 25 | 22 | 3 | 48 | 46 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total revenues from contracts with customers | 1214 | 1129 | 85 | 2367 | 2222 | 145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other regulated revenues |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SRP revenues | 43 |  | 43 | 70 |  | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UTM revenues (e) | 19 |  | 19 | 19 |  | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total other regulated revenues | 62 |  | 62 | 89 |  | 89 |
|  Total revenues contributing to earnings | 1276 | 1129 | 147 | 2456 | 2222 | 234 |
|  **Revenues collected for pass-through expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; TCRF – third-party wholesale transmission service | 367 | 351 | 16 | 720 | 702 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp; EECRF and other revenues | 11 | 12 | (1) | 26 | 26 |  |
|  Total revenues collected for pass-through expenses | 378 | 363 | 15 | 746 | 728 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total operating revenues | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3202 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2950 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 |

---

(a) Distribution base revenues from residential customers are generally based on actual monthly consumption (kWh). On a
weather-normalized basis, distribution base revenues from residential customers increased 11.8% in the three months ended June 30, 2025 as compared to the three months ended June 30, 2024 and increased 8.8% in the six months ended
June 30, 2025 as compared to the six months ended June 30, 2024.

(b) Depending on size and annual load factor, distribution base revenues from large commercial & industrial customers
are generally based either on actual monthly demand (kilowatts) or the greater of actual monthly demand (kilowatts) or 80% of peak monthly demand during the prior 11 months.

(c) Includes distribution base revenues from small business customers whose billing is generally based on actual monthly
consumption (kWh), lighting sites and other miscellaneous distribution base revenues.

(d) The 7.7% increase in distribution base revenues in the three months ended June 30, 2025 as compared to the three
months ended June 30, 2024 (9.6% increase on a weather-normalized basis) primarily due to incremental interim distribution cost recovery factor (DCRF) rates to reflect increases in invested capital and customer growth; partially offset by lower
customer consumption, primarily attributable to milder weather. The 9.3% increase in distribution base revenues in the six months ended June 30, 2025 as compared to the six months ended June 30, 2024 (8.2% increase on a weather-normalized
basis) primarily reflects updated interim DCRF rates, increase in customer growth, and increase due to higher customer consumption, primarily attributable to weather.

(e) Includes revenues recognized in the second quarter of 2025, which were recognized for recoverable UTM eligible
transmission and distribution capital investments put into service during the period from January 1, 2025 through June 30, 2025, including depreciation expenses, carrying costs on unrecovered balances and related taxes.

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**<u>Forward-Looking Statements</u>**

This news release contains forward-looking statements relating to Oncor within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. All statements, other than statements of historical facts, that are included in this news release, as well as statements made in presentations, in response to questions or otherwise, that address activities, events or developments that Oncor expects or anticipates to occur in the future, including such matters as projections, capital allocation, future capital expenditures, business strategy, competitive strengths, goals, future acquisitions or dispositions, development or operation of facilities, market and industry developments and the growth of Oncor's business and operations (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely result," "expects," "is expected to," "will continue," "is anticipated," "estimated," "forecast," "should," "projection," "target," "goal," "objective" and "outlook"), are forward-looking statements. Although Oncor believes that in making any such forward-looking statement its expectations are based on reasonable assumptions, any such forward-looking statement involves risks, uncertainties and assumptions. Factors that could cause Oncor's actual results to differ materially from those projected in such forward-looking statements include: legislation, governmental policies and orders, and regulatory actions; legal and administrative proceedings and settlements, including the exercise of equitable powers by courts; weather conditions and other natural phenomena, including severe weather events, natural disasters or wildfires; cyber-attacks on Oncor or Oncor's third-party vendors; changes in expected ERCOT and service territory growth; changes in, or cancellations of, anticipated projects, including customer requested interconnection projects; physical attacks on Oncor's system, acts of sabotage, wars, terrorist activities, wildfires, fires, explosions, natural disasters, hazards customary to the industry, or other emergency events; Oncor's ability to obtain adequate insurance on reasonable terms and the possibility that it may not have adequate insurance to cover all losses incurred by Oncor or third-party liabilities; adverse actions by credit rating agencies; health epidemics and pandemics, including their impact on Oncor's business and the economy in general; interrupted or degraded service on key technology platforms, facilities failures, or equipment interruptions; economic conditions, including the impact of a recessionary environment, inflation, foreign policy, and global trade restrictions; supply chain disruptions, including as a result of tariffs, global trade disruptions, competition for goods and services, and service provider availability; unanticipated changes in electricity demand in ERCOT or Oncor's service territory; ERCOT grid needs and ERCOT market conditions, including insufficient electricity generation within the ERCOT market or disruptions at power generation facilities that supply power within the ERCOT market; changes in business strategy, development plans or vendor relationships; changes in interest rates, foreign currency exchange rates, or rates of inflation; significant changes in operating expenses, liquidity needs and/or capital expenditures; inability of various counterparties to meet their financial and other obligations to Oncor, including failure of counterparties to timely perform under agreements; general industry and ERCOT trends; significant decreases in demand or consumption of electricity delivered by Oncor, including as a result of increased consumer use of third-party distributed energy resources or other technologies; changes in technology used by and services offered by Oncor; changes in employee and contractor labor availability and cost; significant changes in Oncor's relationship with its employees, and the potential adverse effects if labor disputes or grievances were to occur; changes in

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assumptions used to estimate costs of providing employee benefits, including pension and other postretirement employee benefits, and future funding requirements related thereto; significant changes in accounting policies or critical accounting estimates material to Oncor; commercial bank and financial market conditions, macroeconomic conditions, access to capital, the cost of such capital, and the results of financing and refinancing efforts, including availability of funds and the potential impact of any disruptions in U.S. or foreign capital and credit markets; financial market volatility and the impact of volatile financial markets on investments, including investments held by Oncor's pension and other postretirement employee benefit plans; circumstances which may contribute to future impairment of goodwill, intangible or other long-lived assets; Oncor's adoption and deployment of artificial intelligence; financial and other restrictions under Oncor's debt agreements; Oncor's ability to generate sufficient cash flow to make interest payments on its debt instruments; and Oncor's ability to effectively execute its operational and financing strategy.

Further discussion of risks and uncertainties that could cause actual results to differ materially from management's current projections, forecasts, estimates and expectations is contained in filings made by Oncor with the U.S. Securities and Exchange Commission. Specifically, Oncor makes reference to the section entitled "Risk Factors" in its annual and quarterly reports. Any forward-looking statement speaks only as of the date on which it is made, and, except as may be required by law, Oncor undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for Oncor to predict all of them; nor can it assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. As such, you should not unduly rely on such forward-looking statements.

None of the website references in this press release are active hyperlinks, and the information contained on, or that can be accessed through, any such website is not, and shall not be deemed to be, part of this document.

## Exhibit 99.2

**Exhibit 99.2**![LOGO](g932252dsp017.jpg)

Sempra Texas \| Recent Legislation Unified Tracker Mechanism ? Allows qualifying electric utilities to apply for interim rate adjustments annually through 2035 ? Defers costs associated with eligible T+D capital investments placed into service during period covered by UTM filing HB 5247 ? Expected to reduce regulatory lag and increase regulated returns during periods of higher investment ? Oncor earned annual ROE expected to improve by 50 to 100 basis points over existing capital trackers1 Support for Wildfire Mitigation HB 143 ? Allows for de -energization of certain non -utility electrical power lines under certain circumstances HB 144 ? Electric utilities must file a plan and annual updates with the PUCT for management and inspection of distribution poles ? Requires electric utilities to file a wildfire mitigation plan for approval by the PUCTHB 145 ? Allows utilities to use plan compliance as evidence in an action against the utility for wildfire -related damages ? Explicitly provides for utilities to self -insure for wildfire risk in certain circumstances HB 500 ? Over $500M to the Texas Forest Service for wildfire suppression aircraft and funding volunteer firefighting departments Large Data Center Grid Integration ? Ensures that wholesale transmission charges properly allocate costs for transmission investment SB 6 ? Development of standard processes and procedures to accommodate the influx of large load into ERCOT ? Intended to improve forecasting, enhance review of cost allocation to large loads, and review impacts of co -location 14

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![LOGO](g932252dsp018.jpg)

Texas Transmission Expansion Progress Permian Basin Reliability Plan Import Paths ? PUCT confirmed 765 -kV import paths in April 2025; routing underway for all projects, CCN approval expected in 2026 2024 RTP Projects Beyond Permian Basin ? Projects currently being scoped and prioritized with line routing beginning in 2026 and CCN filings in 2027 ? In July 2025, Oncor and other Texas utilities submitted two joint filings for the 765 -kV Eastern portion of the STEP to the ERCOT RPG for review Transmission Expansion Projects1 Estimated Cost ($B) PBRP Projects $14 – 15 • Import Paths 765 -kV2 $10 • Local Common Projects 138 – 345 -kV $5 2024 RTP Projects Beyond PBRP $18 – 20 • 765 -kV Joint Projects3 $10 • Upgrades and New Facilities 138 – 345 -kV $8 – 10 Total Estimated Cost $32 – 35 ERCOT 765 -kV STEP Approved 765-kV Lines (Oncor projects)2 Approved 765-kV Lines (Other)2 Approved 765-kV Substation2 Proposed New 765-kV Lines (Oncor projects)3 Proposed New 765-kV Lines (Other) 3 Proposed 765-kV Substation3 16

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![LOGO](g932252dsp019.jpg)

Endnotes Slide 12: Benefits of Diversified Utility Mix 1. Projected rate base as described on the Q4 -2024 earnings call on February 25, 2025. Sempra California rate base estimates calculated using 13 -month weighted -average projections, excluding CWIP. Rate base estimates reflect Sempra's proportionate share based on 80.25% of Oncor projected year -end rate base. Slide 13: Sempra Texas \| Oncor Base Rate Review 1. Oncor's base rate review is subject to PUCT approval. The final approved decision and decision timing may differ materially and adversely from any requests made therein.2. Represents request in comprehensive base rate review. PUCT Docket No. 58306. Authorized numbers reflect current regulatory capital structure and ROE established in PUCT Docket No. 53601.3. Represents actual historical year -end 2024 revenue with certain adjustments. Revenue request of 13% increase over current adjusted rates. Slide 14: Sempra Texas \| Recent Legislation 1. Projected 50 -100 basis points range may vary over time. See Sempra Form 8 -K filed June 23, 2025. Slide 16: Texas Transmission Expansion Progress 1. Costs are pursuant to published ERCOT estimates in the Permian Basin Reliability Plan Study (PUCT Docket No. 55718) and the 2024 RTP (issued December 20, 2024) and have been updated based on 1.) The 2024 RTP 345 -kV Plan and Texas 765 -kV STEP Comparison as filed with the PUCT on January 24, 2025, 2.) PBRP import path costs as presented in ERCOT Permian Cost Update Letter filed with the PUCT on March 27, 2025, and 3.) Project estimates included in the Joint Filings with ERCOT for the Eastern 765 -kV STEP under RPG projects 25RPG022 and 25RPG025. 2. Individual projects included in the PUCT approved PBRP require additional regulatory approvals (CCN). 3. Projects are currently undergoing ERCOT Regional Planning Review in accordance with ERCOT Nodal Protocol 3.11.4. Slide 18: Sempra California 1. See Appendix for information regarding Adjusted Earnings, which represents a non -GAAP financial measure. Slide 20: Sempra Infrastructure 1. See Appendix for information regarding Adjusted Earnings, which represents a non -GAAP financial measure. Slide 21: Parent & Other 1. See Appendix for information regarding Adjusted Earnings, which represents a non -GAAP financial measure. Slide 23: 2025 and 2024 Adjusted Earnings and Adjusted EPS 1. Except for adjustments that are solely income tax and tax related to outside basis differences, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. Slide 24: 2025 and 2024 Adjusted Earnings (Losses) by Business Unit 1. Except for adjustments that are solely income tax and tax related to outside basis differences, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. 28