EDGAR 10-K Filing

Company CIK: 2039835
Filing Year: 2025
Filename: 2039835_10-K_2025_0002039835-25-000006.json

---

ITEM 1. BUSINESS

---

ITEM 1A. RISK FACTORS

---

ITEM 1B. UNRESOLVED STAFF COMMENTS
Item 1B. Unresolved Staff Comments
None.

---

ITEM 2. PROPERTIES

---

ITEM 3. LEGAL PROCEEDINGS

---

ITEM 4. MINE SAFETY DISCLOSURE
Item 4. Mine Safety Disclosures
Not applicable.
Part II
The following Items have been omitted pursuant to General Instruction J of Form 10-K:
•Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
•Item 6. [Reserved]
•Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
•Item 7A. Quantitative and Qualitative Disclosures About Market Risk
•Item 8. Financial Statements and Supplementary Data
•Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
•Item 9A. Controls and Procedures

---

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY

---

ITEM 6. SELECTED FINANCIAL DATA

---

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS

---

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

---

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

---

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS

---

ITEM 9A. CONTROLS AND PROCEDURES

---

ITEM 9B. OTHER INFORMATION
Item 9B. Other Information
None.

---

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Item 10. Directors, Executive Officers, and Corporate Governance
The following are the managers and executive officers of Ameren Missouri Securitization Funding I, LLC as of December 31, 2024:
Name Age Title Background
Darryl T. Sagel 52 Manager, Treasurer and President Darryl T. Sagel has served as Vice President and Treasurer of Ameren Corp. and Ameren Missouri since July 2018. Mr. Sagel previously served as Vice President, Corporate Development from July 2012 to July 2018. Prior to joining Ameren in 2012, Mr. Sagel served as a Managing Director, Investment Banking, with Rothschild Inc. and with Lazard in their New York offices.
David R. Loesch 49 Manager and Controller David R. Loesch was appointed Vice President and Controller of Ameren Corp. in June 2020. Mr. Loesch previously served as Director, Ameren Services Center from May 2017 to June 2020 and as Director, External Reporting, from January 2013 to May 2017, and previously in various accounting roles. Prior to joining Ameren in 2000, Mr. Loesch worked for a public accounting firm.
Lisa M. Pierro 44 Independent Manager Ms. Pierro joined CT Corporation System, a WoltersKluwer business, in 2013 and currently serves as Senior Customer Staffing Specialist and Independent Director/Manager. Prior to her current role, Ms. Pierro served as a Customer Specialist and an Assistant Team Leader.
Ameren Missouri Securitization Funding I, LLC is a wholly-owned subsidiary of Union Electric Company, which in turn is a wholly-owned subsidiary of Ameren Corporation.
Code of Ethics
As a wholly-owned indirect subsidiary of Ameren Corporation, Ameren Missouri Securitization Funding I, LLC, together with its managers and executive officers, is subject to Ameren Corporation’s code of ethics. The Ameren Companies make available free of charge through Ameren’s website (www.amereninvestors.com) the code of ethics. Any amendment to the code of ethics and any waiver from a provision of the code of ethics will be posted on Ameren’s website within four business days following the date of the amendment or waiver.

---

ITEM 11. EXECUTIVE COMPENSATION
Item 11. Executive Compensation
Other than the annual independent manager fee of $3,000 paid to CT Corporation System, Ameren Missouri Securitization Funding I, LLC does not pay any compensation to its managers or executive officers.

---

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
None.

---

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Item 13. Certain Relationships and Related Transactions, and Director Independence
Manager Lisa M. Pierro is an independent manager and an employee of CT Corporation System.

---

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Item 14. Principal Accountant Fees and Services
Omitted pursuant to General Instruction J of Form 10-K.
Part IV

---

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
Item 15. Exhibits and Financial Statement Schedules
(a)(1) and (a)(2) Financial Statements and Financial Statement Schedules are omitted pursuant to General Instruction J of Form 10-K as listed under Item 8 of this report.
(a)(3) and (b) Refer to exhibit listing below.
(c) None.
Exhibit Number Description
(i) Exhibits filed herewith:
31.1 Certification pursuant to Rule 13a-14(d)/15(d)-14(d)
33.1 Report on Assessment of Compliance with Servicing Criteria for Asset-Backed Issuers for Union Electric Company, as Servicer
33.2 Report on Assessment of Compliance with Servicing Criteria for Asset-Backed Issuers for The Bank of New York Mellon, as Indenture Trustee
34.1 Attestation Report on Assessment of Compliance with Servicing Criteria for Asset-Backed Securities of PricewaterhouseCoopers LLP on behalf of Union Electric Company, as Servicer
34.2 Attestation Report on Assessment of Compliance with Servicing Criteria for Asset-Backed Securities of KPMG LLP on behalf of The Bank of New York Mellon, as Indenture Trustee
35.1 Servicer Compliance Statement of Union Electric Company, as Servicer
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
(ii) Exhibits furnished herewith:
None
(iii) Exhibits incorporated by reference:
3.1 Certificate of Formation of Ameren Missouri Securitization Funding I, LLC
3.2 Amended and Restated Limited Liability Company Agreement of Ameren Missouri Securitization Funding I, LLC, dated as of December 10, 2024
4.1 Indenture between Ameren Missouri Securitization Funding I, LLC and The Bank of New York Mellon Trust Company, N.A., dated as of December 20, 2024
4.2 Series Supplement between Ameren Missouri Securitization Funding I, LLC and The Bank of New York Mellon Trust Company, N.A. (including forms of the Bonds), dated as of December 20, 2024
10.1 Securitized Utility Tariff Property Servicing Agreement between Ameren Missouri Securitization Funding I, LLC and Union Electric Company, as Servicer, dated as of December 20, 2024
10.2 Securitized Utility Tariff Property Purchase and Sale Agreement between Ameren Missouri Securitization Funding I, LLC and Union Electric Company, as Seller, dated as of December 20, 2024
10.3 Administration Agreement between Ameren Missouri Securitization Funding I, LLC and Union Electric Company, as Administrator, dated as of December 20, 2024
99.1 Financing Order