Kentucky Public Service Commission

Order Entered nunc pro tunc, that: 1. Ordering paragraph 1 of the April 14, 2022 Order is stricken and is replaced with the following language: KU is authorized to issue long-term debt in the form of First Mortgage Bonds, Intermediate Term Financings, or a combination of both, in an aggregate principal amount not to exceed $550 million, from the date that this Order is entered through December 31, 2023. 2. All other provisions of the Commission’s April 14, 2022 Order that are not in conflict with the terms of this Order shall remain in effect.

Final Order Entered: 1. KU is authorized to issue long-term debt in the form of First Mortgage Bonds, or Intermediate Term Financing, or a combination of both, in an aggregate principal amount not to exceed $550 million, from the date that this Order is entered through December 31, 2022. 2. KU is authorized to enter into the interest rate hedging agreements in connection with the issuance of the First Mortgage Bonds as set forth in KU’s application. 3. KU is authorized to establish regulatory assets or liabilities to account for the losses and gains arising from its use of the interest rate hedging agreements approved in this Order, and to amortize the losses and gains over the remaining life of the First Mortgage Bonds as described in the application. 4. KU is authorized to exercise an extension of KU’s existing multi-year revolving credit line or any new multi-year revolving credit line in 2022 and 2023 to extend the facility maturity date up to five years from the effective date of the amendment and the total aggregate amount of multi-year revolving credit facilities shall not exceed $750 million. 5. The proceeds from the transaction authorized in this Order shall be used only for the lawful purposes set out in the application.

KUs Board of Directors resolution submitted pursuant to paragraph 28 of its Application

Kendrick R. Riggs of Stoll Keenon Ogden PLLC Kentucky Utilities Company

20220303_PSC No Deficiency Letter.pdf

Verified Application for Kentucky Utilities Company

Rick E. Lovekamp Kentucky Utilities Company

20220104_PSC Acknowledgment Letter.pdf

Kentucky Utilities Company Notice of Intent to File an Application for an Order Authorizing the Issuance of Indebtedness Using Electronic Filing Procedures