1. Balanced Portfolio 1 Project Original Cost Estimate Q3 2012 Latest Update Cost Variance% Change Sooner - Cleveland 345 kV $33,530,000$58,906,000$59,880,000$26,350,00078.6% Seminole - Muskogee 345 kV $129,000,000$161,700,000 $32,700,00025.3% Tuco - Woodward 345 kV $227,727,500$328,733,021$328,645,462$101,917,69244.3% Iatan - Nashua 345 kV $54,444,000$64,800,000 $10,356,00019.0% Spearville - Post Rock - Axtell 345 kV $236,557,015$224,000,000 ($12,557,015)-5.3% Swissvale - Stilwell Tap 345 kV $2,000,000 $1,922,840($77,160)-3.9% Gracemont Substation $8,000,000$15,200,000$15,966,210$7,966,21099.6% Total $691,258,515$855,339,021$857,002,071$165,743,55624.0%

2. Tuco - Stateline 345 kV Ckt 1 (SPS) 2 Original Cost Estimate In-Service Date Latest Cost Estimate Cost Variance % Change Expenditure to Date % of Latest Estimate $122,597,500 5/19/2014$170,247,072$47,649,57238.9%$4,195,8222.5% Percentage of Completion Material Procurement7%Environmental Studies50% Construction0%Engineering38% Siting and Routing95%Permit Status35% Cost Estimate Increase Justifications CREZ projects in same area elevating ROW costs30% 13% increase in line length (178 to 202.4 miles)30% 43% increase in number of corner/angle structures30% Switch from in-house engineering and construction to consultants and contractors10% Potential Future Cost Increase Factors Increased costs of purchasing easements (due to recent awards for CREZ projects) Number of corner/angle structures may increase for minor route adjustments Labor/material costs could increase due to steel/aluminum price fluctuations and availability of contract labor In-service date may change due to length of time to acquire easements Final Pedestrian survey could cause archeological or biological mitigation requirements

3. Tuco 345/230 kV Transformer Ckt 2 (SPS) 3 Original Cost Estimate In-Service Date Latest Cost Estimate Cost Variance % Change Expenditure to Date % of Latest Estimate $11,250,000* 3/31/2013$15,498,390$4,248,39037.8%$7,086,64145.7% Percentage of Completion Material Procurement7%Environmental StudiesN/A Construction25%Engineering85% Siting and RoutingN/APermit StatusN/A Cost Estimate Increase Justifications None provided Potential Future Cost Increase Factors None mentioned *SPS estimate at time of Modified NTC issuance