# EDGAR Filing Document

**Accession Number:** 0002036521
**File Stem:** 0002036521-26-000003
**Filing Date:** 2026-3
**Character Count:** 26712
**Document Hash:** e173dfc103bb62cab74d43a678c23d95
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002036521-26-000003.hdr.sgml**: 20260305

**ACCESSION NUMBER**: 0002036521-26-000003

**CONFORMED SUBMISSION TYPE**: 10-D

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260227

**FILED AS OF DATE**: 20260305

**DATE AS OF CHANGE**: 20260305

**ABS ASSET CLASS**: Other

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SWEPCO Storm Recovery Funding LLC
- **CENTRAL INDEX KEY:** 0002036521
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 994619989
- **STATE OF INCORPORATION:** LA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-282250-01
- **FILM NUMBER:** 26725890

**BUSINESS ADDRESS:**
- **STREET 1:** 428 TRAVIS ST
- **CITY:** SHREVEPORT
- **STATE:** LA
- **ZIP:** 71101
- **BUSINESS PHONE:** 6147161630

**MAIL ADDRESS:**
- **STREET 1:** 428 TRAVIS ST
- **CITY:** SHREVEPORT
- **STATE:** LA
- **ZIP:** 71101

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 10-D**

**ASSET-BACKED ISSUER**

**DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(D) OF** 

**THE SECURITIES EXCHANGE ACT OF 1934**

For the semi-annual distribution period from

September 1, 2025 to February 28, 2026

Commission File Number of issuing entity: 333-282250-01 <br> Central Index Key Number of issuing entity: <u>0002036521</u>

**SWEPCO STORM RECOVERY FUNDING LLC**

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 1-3146 <br> Central Index Key Number of depositor: <u>0000092487</u>

**SOUTHWESTERN ELECTRIC POWER COMPANY**

(Exact name of depositor as specified in its charter)

Central Index Key Number of sponsor (if applicable): <u>0000092487</u>

**SOUTHWESTERN ELECTRIC POWER COMPANY**

(Exact name of sponsor as specified in its charter)

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| |
|:---|
| RYAN F. AGUIAR, SENIOR COUNSEL<br>AMERICAN ELECTRIC POWER SERVICE CORPORATION<br>(614) 716-2931<br>(Name and telephone number, including area code, of the person to contact in connection with this filing) |
| LOUISIANA |
| (State or other jurisdiction of incorporation or organization of the issuing entity) |

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99-4619989 <br> (IRS Employer Identification No.)

428 Travis Street, Shreveport, Louisiana 71101 <br> (Address of principal executive offices of the issuing entity) (Zip Code)

<u>(318) 673-3075</u>

(Telephone number, including area code)

<u>None</u>

(Former name, former address, if changed since last report)

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Registered/reporting pursuant to (check one)

Title of Class Section 12(b) Section 12(g) Section 15(d) Name of exchange<br>(If Section 12(b)) <br> Series 2024-A Senior Secured Storm Recovery Bonds, Tranche A ⌧

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 Yes ⌧ No

PART I - DISTRIBUTION INFORMATION

Item 1. Distribution and Pool Performance Information.

The response to Item 1 is set forth in part herein and in part in Exhibit 99.1.

The record date for distributions described in Exhibit 99.1 is February 28, 2026.

Introductory and explanatory information regarding the material terms, parties and distributions described in Exhibit 99.1 is included in the Prospectus relating to the Series 2024-A Senior Secured Storm Recovery Bonds (the "Bonds"), dated December 10, 2024, of SWEPCO Storm Recovery Funding LLC (the "Issuing Entity") filed with the Securities and Exchange Commission pursuant to Rule 424(b)(1) of the Securities Act of 1933 on December 12, 2024 under the depositor's Commission File Number.

As indicated in Exhibit 99.1, all required interest and scheduled principal payments on the Bonds have been made with respect to the March 2, 2026 distribution date.

Item 1A. Asset-Level Information.

Omitted pursuant to General Instruction C of Form 10-D.

Item 1B. Asset Representations Reviewer and Investor Communication.

Omitted pursuant to General Instruction C of Form 10-D.

PART II - OTHER INFORMATION

Item 2. Legal Proceedings.

None.

Item 3. Sales of Securities and Use of Proceeds.

None.

Item 4. Defaults Upon Senior Securities.

Omitted pursuant to General Instruction C of Form 10-D.

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Item 5. Submission of Matters to a Vote of Security Holders.

Omitted pursuant to General Instruction C of Form 10-D.

Item 6. Significant Obligors of Pool Assets.

Omitted pursuant to General Instruction C of Form 10-D.

Item 7. Change in Sponsor Interest in the Securities.

None.

Item 8. Significant Enhancement Provider Information.

Omitted pursuant to General Instruction C of Form 10-D.

Item 9. Other Information.

Omitted pursuant to General Instruction C of Form 10-D.

Item 10. Exhibits.

Exhibits designated with an asterisk (\*) are filed herewith.

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| \*99.1 | <u>[Semi-annual Servicer's Certificate relating to the Bonds, dated February 27, 2026.](swepcostormrecoveryfunding.htm)</u> |

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SIGNATURES

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 thereunto duly authorized.

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| | | |
|:---|:---|:---|
| | SWEPCO Storm Recovery Funding LLC | SWEPCO Storm Recovery Funding LLC |
| | (Issuing Entity) | (Issuing Entity) |
| Date: March 5, 2026 | By: | Southwestern Electric Power Company |
|  | By: | <u>/s/ Matthew D. Fransen</u> |
|  | Name: | Matthew D. Fransen |
|  | Title: | Treasurer and Senior Officer in Charge of the Servicing Function |

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## Exhibit 99.1

Exhibit 99.1

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| | | | |
|:---|:---|:---|:---|
| ***Semi-Annual Servicer's Certificate*** | ***Semi-Annual Servicer's Certificate*** | ***Semi-Annual Servicer's Certificate*** | ***Semi-Annual Servicer's Certificate*** |
| SWEPCO STORM RECOVERY FUNDING LLC | SWEPCO STORM RECOVERY FUNDING LLC | SWEPCO STORM RECOVERY FUNDING LLC | SWEPCO STORM RECOVERY FUNDING LLC |
| Southwestern Electric Power Company, as Servicer | Southwestern Electric Power Company, as Servicer | Southwestern Electric Power Company, as Servicer | Southwestern Electric Power Company, as Servicer |
| Pursuant to Section 4.01(g)(i) of the Storm Recovery Property Servicing Agreement, dated as of December 18, 2024 (the | Pursuant to Section 4.01(g)(i) of the Storm Recovery Property Servicing Agreement, dated as of December 18, 2024 (the | Pursuant to Section 4.01(g)(i) of the Storm Recovery Property Servicing Agreement, dated as of December 18, 2024 (the | Pursuant to Section 4.01(g)(i) of the Storm Recovery Property Servicing Agreement, dated as of December 18, 2024 (the |
| "Servicing Agreement"), between, SOUTHWESTERN ELECTRIC POWER COMPANY, as Servicer and THE SWEPCO STORM RECOVERY FUNDING LLC, | "Servicing Agreement"), between, SOUTHWESTERN ELECTRIC POWER COMPANY, as Servicer and THE SWEPCO STORM RECOVERY FUNDING LLC, | "Servicing Agreement"), between, SOUTHWESTERN ELECTRIC POWER COMPANY, as Servicer and THE SWEPCO STORM RECOVERY FUNDING LLC, | "Servicing Agreement"), between, SOUTHWESTERN ELECTRIC POWER COMPANY, as Servicer and THE SWEPCO STORM RECOVERY FUNDING LLC, |
| as Issuer, the servicer does hereby certify, for the MARCH 02, 2026 | as Issuer, the servicer does hereby certify, for the MARCH 02, 2026 | as Issuer, the servicer does hereby certify, for the MARCH 02, 2026 | as Issuer, the servicer does hereby certify, for the MARCH 02, 2026 |
| Payment Date (the "Current Payment Date"), as follows: | Payment Date (the "Current Payment Date"), as follows: | Payment Date (the "Current Payment Date"), as follows: | Payment Date (the "Current Payment Date"), as follows: |
| Capitalized terms used herein have their respective meanings as set forth in the Indenture (as defined in the Servicing Agreement). References herein to | Capitalized terms used herein have their respective meanings as set forth in the Indenture (as defined in the Servicing Agreement). References herein to | Capitalized terms used herein have their respective meanings as set forth in the Indenture (as defined in the Servicing Agreement). References herein to | Capitalized terms used herein have their respective meanings as set forth in the Indenture (as defined in the Servicing Agreement). References herein to |
| certain sections and subsections are references to the respective sections of the Servicing Agreement Of the Indenture, | certain sections and subsections are references to the respective sections of the Servicing Agreement Of the Indenture, | certain sections and subsections are references to the respective sections of the Servicing Agreement Of the Indenture, | certain sections and subsections are references to the respective sections of the Servicing Agreement Of the Indenture, |
| as the context indicates. | as the context indicates. | as the context indicates. | as the context indicates. |
|  |  | *Collection Periods:* | to |
|  |  | *Payment Date:* | 3/2/26 |
| ***1. Collections Allocable and Aggregate Amounts Available for the Current Payment Date:*** | ***1. Collections Allocable and Aggregate Amounts Available for the Current Payment Date:*** | ***1. Collections Allocable and Aggregate Amounts Available for the Current Payment Date:*** | ***1. Collections Allocable and Aggregate Amounts Available for the Current Payment Date:*** |
| &nbsp;&nbsp;&nbsp;&nbsp;i. | &nbsp;&nbsp;&nbsp;&nbsp;i. | Remittances for the 09/25 collection period (1) | 3323129.87 |
| &nbsp;&nbsp;&nbsp;&nbsp;ii. | &nbsp;&nbsp;&nbsp;&nbsp;ii. | Remittances for the 10/25 collection period | 3576654.96 |
| iii. | iii. | Remittances for the 11/25 collection period | 2456529.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;iv. | &nbsp;&nbsp;&nbsp;&nbsp;iv. | Remittances for the 12/25 collection period | 2426032.30 |
| &nbsp;&nbsp;&nbsp;&nbsp;v. | &nbsp;&nbsp;&nbsp;&nbsp;v. | Remittances for the 01/26 collection period | 2491239.82 |
| &nbsp;&nbsp;&nbsp;&nbsp;vi. | &nbsp;&nbsp;&nbsp;&nbsp;vi. | Remittances for the 02/26 collection period (2) | 2478736.55 |
| vii. | vii. | Investment Earnings on Collection Account |  |
| viii. | viii. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Earnings on Capital Subaccount | 25858.78 |
| &nbsp;&nbsp;&nbsp;&nbsp;ix. | &nbsp;&nbsp;&nbsp;&nbsp;ix. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Earnings on Excess Funds Subaccount | 13619.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;x. | &nbsp;&nbsp;&nbsp;&nbsp;x. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Earnings on General Subaccount | 164816.64 |
| **xi.** | **xi.** | **General Subaccount Balance (sum of i through x above)** | **16956618.03** |
| xii. | xii. | Excess Funds Subaccount Balance as of Prior Payment Date | 1080741.22 |
| xiii. | xiii. | Capital Subaccount Balance as of Prior Payment Date | 1683500.00 |
| **xiv.** | **xiv.** | **Collection Account Balance (sum of xi through xiii above)** | **19720859.25** |
| **Notes:** |  |  |  |
| (1) | Includes amounts calculated for the Reconciliation Period for the prior Collection Period, which was settled in September 2025 | Includes amounts calculated for the Reconciliation Period for the prior Collection Period, which was settled in September 2025 | Includes amounts calculated for the Reconciliation Period for the prior Collection Period, which was settled in September 2025 |
| (2) | Does not include the reconciliation amounts calculated for the Reconciliation Period for such Collection Period, which will be settled in the month following such Collection Period. | Does not include the reconciliation amounts calculated for the Reconciliation Period for such Collection Period, which will be settled in the month following such Collection Period. | Does not include the reconciliation amounts calculated for the Reconciliation Period for such Collection Period, which will be settled in the month following such Collection Period. |
|  |  | Exhibit B | Page 1 of 4 |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ***2. Outstanding Amounts as of Prior Payment Date:*** | ***2. Outstanding Amounts as of Prior Payment Date:*** | ***2. Outstanding Amounts as of Prior Payment Date:*** | ***2. Outstanding Amounts as of Prior Payment Date:*** | | | | | |
| **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** |
| i. | Tranche A-1 Outstanding Amount | Tranche A-1 Outstanding Amount | Tranche A-1 Outstanding Amount |  |  |  | 325555280.64 | 325555280.64 |
| **ii.** | **Aggregate Outstanding Amount of all Tranches of the Bonds** | **Aggregate Outstanding Amount of all Tranches of the Bonds** | **Aggregate Outstanding Amount of all Tranches of the Bonds** | **Aggregate Outstanding Amount of all Tranches of the Bonds** | **Aggregate Outstanding Amount of all Tranches of the Bonds** |  | **325555280.64** | **325555280.64** |
| ***3. Required Funding/Payments as of Current Payment Date:*** | ***3. Required Funding/Payments as of Current Payment Date:*** | ***3. Required Funding/Payments as of Current Payment Date:*** | ***3. Required Funding/Payments as of Current Payment Date:*** | ***3. Required Funding/Payments as of Current Payment Date:*** | ***3. Required Funding/Payments as of Current Payment Date:*** | ***3. Required Funding/Payments as of Current Payment Date:*** | ***3. Required Funding/Payments as of Current Payment Date:*** | ***3. Required Funding/Payments as of Current Payment Date:*** |
| **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** | **<u>Tranche</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;i. | Tranche A-1 | Tranche A-1 | Tranche A-1 |  |  |  | 8204268.20 | 8204268.20 |
| **ii.** | **For all Tranches of the Bonds** | **For all Tranches of the Bonds** | **For all Tranches of the Bonds** |  |  |  | **8204268.20** | **8204268.20** |
|  | **<u>Interest</u>** | **<u>Interest</u>** | **<u>Interest</u>** | **<u>Interest Rate</u>** | **<u>Days in interest Period(1)</u>** | **<u>Principal Balance</u>** | **<u>Interest Due</u>** | **<u>Interest Due</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;iii. | Tranche A-1 | Tranche A-1 | Tranche A-1 | 4.8800% | 180 | 325555280.64 | 7943548.85 | 7943548.85 |
| **iv.** | **For all Tranches of the Bonds** | **For all Tranches of the Bonds** | **For all Tranches of the Bonds** |  |  |  | **7943548.85** | **7943548.85** |
|  |  |  |  |  |  | **<u>Required Level</u>** | **<u>Required Level</u>** | **<u>Funding Required</u>** |
|  | Capital Subaccount | Capital Subaccount | Capital Subaccount |  |  | 1683500.00 | 1683500.00 | 0.00 |
|  |  |  |  |  |  | **1683500.00** | **1683500.00** | **0.00** |
| ***4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:*** | ***4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:*** | ***4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:*** | ***4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:*** | ***4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:*** | ***4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:*** | ***4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:*** | ***4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:*** | ***4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:*** |
| i. | i. | Trustee Fees and Expenses, Indemnity Amounts(2) | Trustee Fees and Expenses, Indemnity Amounts(2) | Trustee Fees and Expenses, Indemnity Amounts(2) | Trustee Fees and Expenses, Indemnity Amounts(2) | Trustee Fees and Expenses, Indemnity Amounts(2) | 0.00 | 0.00 |
| ii. | ii. | Servicing Fee | Servicing Fee | Servicing Fee | Servicing Fee | Servicing Fee | 168350.00 | 168350.00 |
| iii. | iii. | Administration Fee | Administration Fee | Administration Fee | Administration Fee | Administration Fee | 50000.00 | 50000.00 |
| iv. | iv. | Operating Expenses | Operating Expenses | Operating Expenses | Operating Expenses | Operating Expenses | 0.00 | 0.00 |
| v. | v. | Semi-Annual Interest (including any past-due for prior periods) | Semi-Annual Interest (including any past-due for prior periods) | Semi-Annual Interest (including any past-due for prior periods) | Semi-Annual Interest (including any past-due for prior periods) | Semi-Annual Interest (including any past-due for prior periods) | 7943548.85 | 7943548.85 |
|  |  |  | **<u>Per $1000 of Original</u>** |  |  |  |  |  |
| **<u>Interest Tranche</u>** | **<u>Aggregate</u>** | **<u>Aggregate</u>** | **<u>Principal Amount</u>** |  |  |  |  |  |
| Tranche A-1 Interest Payment | 7943548.85 | 7943548.85 | $23.59 |  |  |  |  |  |
|  | **7943548.85** | **7943548.85** |  |  |  |  |  |  |
| vi. | vi. | Principal Due and Payable as a Result of Event of Default or on Final Maturity Date | Principal Due and Payable as a Result of Event of Default or on Final Maturity Date | Principal Due and Payable as a Result of Event of Default or on Final Maturity Date | Principal Due and Payable as a Result of Event of Default or on Final Maturity Date | Principal Due and Payable as a Result of Event of Default or on Final Maturity Date | 0.00 | 0.00 |
|  |  |  | **<u>Per $1000 of Original</u>** |  |  |  |  |  |
| Tranche A-1 Principal Payment | 0.00 | 0.00 | $0.00 |  |  |  |  |  |
|  | **0.00** | **0.00** |  |  |  |  |  |  |
| **Notes:** | **Notes:** | **Notes:** | **Notes:** | **Notes:** | **Notes:** | **Notes:** | **Notes:** | **Notes:** |
| (1) On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | (1) On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | (1) On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | (1) On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | (1) On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | (1) On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | (1) On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | (1) On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | (1) On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. |
| (2) Subject to $200,000 cap per annum. | (2) Subject to $200,000 cap per annum. | (2) Subject to $200,000 cap per annum. | (2) Subject to $200,000 cap per annum. | (2) Subject to $200,000 cap per annum. | (2) Subject to $200,000 cap per annum. | (2) Subject to $200,000 cap per annum. | (2) Subject to $200,000 cap per annum. | (2) Subject to $200,000 cap per annum. |
|  |  |  |  | Exhibit B | Exhibit B | Exhibit B | Page 2 of 4 | Page 2 of 4 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| vii. | vii. | Semi-Annual Principal | Semi-Annual Principal | 8204268.20 | 8204268.20 |
|  |  |  |  |  | **<u>Per $1000 of Original</u>** |
|  | **<u>Interest Tranche</u>** | Aggregate | Aggregate | Aggregate | **<u>Principal Amount</u>** |
| 1. | Tranche A-1 Principal Payment | 8204268.20 | 8204268.20 | 8204268.20 | $24.37 |
|  |  | **8204268.20** | **8204268.20** | **8204268.20** |  |
| viii. | Other unpaid Operating Expenses (including amounts owed to the Indenture Trustee but unpaid due to cap) and any remaining amounts owed pursuant to the Basic Documents | Other unpaid Operating Expenses (including amounts owed to the Indenture Trustee but unpaid due to cap) and any remaining amounts owed pursuant to the Basic Documents | 0.00 | 0.00 | 0.00 |
| ix. | Replenishment of Capital Subaccount (to Required Capital Amount) |  | 1683500.00 | 1683500.00 | 1683500.00 |
| x. | Return on Invested Capital released to SWEPCO |  | 25858.78 | 25858.78 | 25858.78 |
| xi. | Deposit to Excess Funds Subaccount |  | 1645333.42 | 1645333.42 | 1645333.42 |
| xii. | Released to Issuer (and credited to Customers) upon Retirement of the Storm Recovery Bonds | Released to Issuer (and credited to Customers) upon Retirement of the Storm Recovery Bonds | 0.00 | 0.00 | 0.00 |
| **xiii.** | **Aggregate Remittances as of the Current Payment Date** |  | **19720859.25** | **19720859.25** | **19720859.25** |
| ***5. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):*** | ***5. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):*** | ***5. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):*** | ***5. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):*** | ***5. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):*** | ***5. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):*** |
| ***Tranche*** | ***Tranche*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;i. | &nbsp;&nbsp;&nbsp;&nbsp;i. | Tranche A-1 Outstanding Amount | 317351012.44 | 317351012.44 | 317351012.44 |
| **ii.** | **ii.** | **Aggregate Outstanding Amount of all Tranches** | **317351012.44** | **317351012.44** | **317351012.44** |
| &nbsp;&nbsp;&nbsp;&nbsp;iii. | &nbsp;&nbsp;&nbsp;&nbsp;iii. | Excess Funds Subaccount Balance | 1645333.42 | 1645333.42 | 1645333.42 |
| &nbsp;&nbsp;&nbsp;&nbsp;iv. | &nbsp;&nbsp;&nbsp;&nbsp;iv. | Capital Subaccount Balance | 1683500.00 | 1683500.00 | 1683500.00 |
| **v.** | **v.** | **Aggregate Collection Account Balance** | **3328833.42** | **3328833.42** | **3328833.42** |
| ***6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture):*** | ***6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture):*** | ***6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture):*** | ***6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture):*** | ***6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture):*** | ***6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture):*** |
| i. | i. | Excess Funds Subaccount | 1094360.82 | 1094360.82 | 1094360.82 |
| ii. | ii. | Capital Subaccount | 1709358.78 | 1709358.78 | 1709358.78 |
| **iii.** | **iii.** | **Total Withdrawals** | **2803719.60** | **2803719.60** | **2803719.60** |
| ***7. Shortfalls In Interest and Principal Payments as of Current Payment Date:*** | ***7. Shortfalls In Interest and Principal Payments as of Current Payment Date:*** | ***7. Shortfalls In Interest and Principal Payments as of Current Payment Date:*** | **0.00** | **0.00** | **0.00** |
| i. Semi-annual Interest | i. Semi-annual Interest | i. Semi-annual Interest | i. Semi-annual Interest | i. Semi-annual Interest | i. Semi-annual Interest |
| 1. | 1. | Tranche A-1 Interest Payment | 0.00 | 0.00 | 0.00 |
|  |  |  | **0.00** | **0.00** | **0.00** |
| ii. Semi-annual Principal | ii. Semi-annual Principal | ii. Semi-annual Principal | ii. Semi-annual Principal | ii. Semi-annual Principal | ii. Semi-annual Principal |
| 1. | 1. | Tranche A-1 Principal Payment | 0.00 | 0.00 | 0.00 |
|  |  |  | **0.00** | **0.00** | **0.00** |
|  |  | Exhibit B | Exhibit B | Page 3 of 4 | Page 3 of 4 |

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| | | | | |
|:---|:---|:---|:---|:---|
| ***8. Shortfalls in Payment of Permitted Return as of Current Payment Date:*** | ***8. Shortfalls in Payment of Permitted Return as of Current Payment Date:*** | ***8. Shortfalls in Payment of Permitted Return as of Current Payment Date:*** | ***8. Shortfalls in Payment of Permitted Return as of Current Payment Date:*** | ***8. Shortfalls in Payment of Permitted Return as of Current Payment Date:*** |
| i. | Permitted Return |  | **0.00** | **0.00** |
| ***9. Shortfalls in Required Subaccount Levels as of Current Payment Date:*** | ***9. Shortfalls in Required Subaccount Levels as of Current Payment Date:*** | ***9. Shortfalls in Required Subaccount Levels as of Current Payment Date:*** | ***9. Shortfalls in Required Subaccount Levels as of Current Payment Date:*** | ***9. Shortfalls in Required Subaccount Levels as of Current Payment Date:*** |
| i. | Capital Subaccount |  | **0.00** | **0.00** |
| IN WITNESS HEREOF, the undersigned has duly executed and | IN WITNESS HEREOF, the undersigned has duly executed and | IN WITNESS HEREOF, the undersigned has duly executed and | IN WITNESS HEREOF, the undersigned has duly executed and | IN WITNESS HEREOF, the undersigned has duly executed and |
| delivered this Servicer's Certificate this 27th day of February, 2026. | delivered this Servicer's Certificate this 27th day of February, 2026. | delivered this Servicer's Certificate this 27th day of February, 2026. | delivered this Servicer's Certificate this 27th day of February, 2026. | delivered this Servicer's Certificate this 27th day of February, 2026. |
|  |  |  | SOUTHWESTERN ELECTRIC POWER COMPANY | SOUTHWESTERN ELECTRIC POWER COMPANY |
|  |  |  | as Servicer | as Servicer |
|  |  | **By:** |  |  |
|  |  |  | /s/ Franz D. Messner | /s/ Franz D. Messner |
|  |  |  | Name: | Franz D. Messner |
|  |  |  | Title: | Assistant Treasurer |
|  |  | Exhibit B | Page 4 of 4 | Page 4 of 4 |

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