$341,450,000

SIGECO Securitization I, LLC

Series 2023-A Senior Secured Securitization Bonds

SIGECO Securitization I, LLC issued $341,450,000 Series 2023-A Senior Secured Securitization Bonds, or the “Bonds,” in two tranches in June 2023. The Bonds are senior secured obligations of SIGECO Securitization I, LLC and are supported by securitization charges paid by retail electric customers in Southern Indiana Gas and Electric Company’s service territory. Securitization charges are required to be adjusted annually, or more frequently under certain circumstances, to ensure the expected recovery of amounts sufficient to timely provide all scheduled payments of principal, interest and other required amounts and charges in connection with the Bonds.

The Bonds represent obligations only of the issuer, SIGECO Securitization I, LLC, and are secured only by the assets of the issuer, consisting principally of the securitization property and funds on deposit in the collection account for the Bonds and related subaccounts. The securitization property includes the right to impose, collect and receive from Southern Indiana Gas and Electric Company’s retail electric customers, through a securitization charge, amounts sufficient to make payments on the Bonds. Southern Indiana Gas and Electric Company and its affiliates, other than the issuer, are not liable for any payments on the Bonds. The Bonds are not a debt or obligation of the State of Indiana, the Indiana Utility Regulatory Commission or any other governmental agency or instrumentality and are not a charge on the full faith and credit or the taxing power of the State of Indiana or any governmental agency or instrumentality.

The Securitization Act passed by the State of Indiana provides that securitization bonds issued under a financing order of the Indiana Utility Regulatory Commission pursuant to the Securitization Act are binding in accordance with their terms, even if the financing order is later vacated, modified, or otherwise held to be invalid in whole or in part.  Additionally, The Securitization Act provides that the State of Indiana has pledged that it will not take or permit any action that would impair the value of securitization property or reduce or alter (except for annual and periodic true-up adjustments) or impair securitization charges to be imposed, collected, and remitted to financing parties under the Securitization Act, until the principal, interest and premium, and other charges incurred, or contracts to be performed, in connection with the related securitization bonds have been paid or performed in full.

Additional information regarding the Bonds is available in the SEC filings of the issuer. A copy of the prospectus is available by clicking here.