2025-2026 Annual Report

Annual report 2025-2026

Our Mission

Empowering our members and communities

Our vision

Bring the cooperative difference to life by investing time and resources in our members, communities and employees

a message from the ceo

At Central Rural Electric Cooperative, growth is more than a number; it’s a reflection of trust.

During the past year, we have continued to see unprecedented growth as more families, farms and businesses choose to call our service area home. Today, we proudly serve more than 25,000 meters, making Central the fastest-growing electric cooperative in Oklahoma and ranking us 78th in the nation in 2024 among electric cooperatives. While growth brings exciting opportunities, it also brings added responsibility. And we take that responsibility seriously.

I have now had the privilege of serving Central as the CEO for more than a year. During that time, I have worked alongside our employees and trustees to strengthen our strategic plan, streamline processes, and ensure we are building a cooperative that is prepared not only for today’s needs but also for tomorrow’s opportunities. Every decision we make is guided by safety, reliability and affordability for Central’s members.

As electricity remains the primary source used to heat and cool homes across our service area, the demand placed on our system continues to grow. We understand how essential reliable electric service is to your everyday life. You depend on Central, and we never take that for granted.

Meeting the growing demand requires planning, investment and stewardship. While the cost of materials, equipment and infrastructure continues to rise across the industry, our focus remains on minimizing costs wherever possible while ensuring the reliability and safety you expect. We work diligently to make wise financial decisions, pursue efficiencies and strategically invest in our system so we can continue delivering dependable service.

Members’ engagement grew as well. This year’s annual meeting was another record-breaking success, with more than 3,400 members in attendance.

Advocating for members has become a top priority. This year, our employees, trustees and I spent significant time at the state capitol, working to influence policy decisions that impact electric cooperatives and the communities we serve. By building strong relationships with elected officials and policymakers, we are helping ensure the voice of our membership is heard and represented.

None of this progress would be possible without the support and leadership of our board of trustees. Your trustees fully support our objectives of safety, reliability and affordability, and they are committed to ensuring we have the tools, equipment and resources needed to accomplish those goals.

As we look ahead, our mission remains unchanged. To provide safe, reliable and affordable electric service while putting our members first in every decision we make. Thank you for your trust, your engagement and the opportunity to serve you. We are honored to power your homes, your businesses and your future.

Shane Burgess, CEO

2025 financial report

CONSOLIDATED ASSETS

Report on the audit of the consolidated financial statements

From Auditors Bolinger, Segars, Gilbert & Moss, L.L.P., Certified Public Accountants, Lubbock, Texas. We have audited the consolidated financial statements of Central Rural Electric Cooperative, Inc. and Subsidiaries which comprise the consolidated balance sheets as of December 31, 2025 and 2024, and the related consolidated statements of income, comprehensive income, and patronage capital and cash flows for the years then ended, and the related notes to the consolidated.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Central Rural Electric Cooperative, Inc. and Subsidiaries, (the Cooperative) as of December 31, 2025 and 2024, and the results of their consolidated operations and their consolidated cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America (GAAP).

a Foundation to provide hope community focus

When wildfires swept through the cooperative’s service area in March of last year, the devastation left many families facing unimaginable loss. In the wake of the disaster, the Central Community Foundation stepped in to provide immediate support through disaster relief grants, awarding nearly $40,000 to 86 residents who suffered damage or lost their homes due to the fires.

Established in 2006, the Central Community Foundation has spent the past 20 years improving lives across the service area by assisting with education, health care, personal needs, disaster relief and community purpose. Thanks entirely to members who participate in Operation Round Up, more than $1.4 million has been distributed to local nonprofits, community groups and individuals

in need during the past two decades.

Operation Round Up gives members the opportunity to voluntarily round up their monthly electric bills to the nearest dollar, an amount totaling no more than $11.88 per year. Those small monthly donations are pooled together and awarded on a bimonthly basis to support nonprofits, organizations and neighbors facing hardship throughout the community.

As the Foundation celebrates 20 years of impact this year, its mission remains the same: neighbors helping neighbors. Whether responding to disasters like last year’s wildfires or supporting vital community programs yearround, Operation Round Up continues to make a meaningful difference, one rounded-up bill at a time.

$83,238

COMMUNITY FOUNDATION

for local nonprofits, groups and residents through 70 Grants Operation round up provided

The Central Community Foundation is a nonprofit organization dedicated to helping those who live within Central’s seven-county service area by distributing Operation Round Up funds. Its board is made up of Central members who meet every other month to review and approve grant applications. Learn more by scanning the QR code.

Co-op Kids

AUTONOMY AND INDEPENDENCE

live line demos

More than 400 children and grandchildren of Central members participate in Co-op Kids. The free program is designed to introduce children to the world of electric cooperatives and electrical safety by sending them birthday cards, age-specific gifts and invitations to co-op events and programs.

Central offers two scholarships to attend Energy Camp, a summer camp near Hinton, Okla., hosted by the Oklahoma Association of Electric Cooperatives.

Eighth-grade students compete in an essay competition to attend the three-day camp, where they learn about electric cooperatives and safety.

Campers step into a set of lineman hooks, climb a utility pole, ride in a bucket truck and learn how cooperatives operate.

EDUCATION, TRAINING AND INFORMATION

Central linemen gave more than 15 live-line safety demonstrations to schools, groups and organizations last year. Central’s skilled linemen use real equipment to show just how dangerous electricity can be.

youth

Youth Tour offers scholarships and an all-expense paid, week-long trip to Washington, D.C., where they visit national monuments, historical sights, Smithsonian museums and visit with members of Congress.

Available to high school juniors attending school within Central’s service area, five students were chosen through an essay and interview competition. Two were selected to attend the trip, and the remaining three received $1,000 scholarships.

Scan the qr code to learn more about Central’s youth programs

COOPERATION AMONG COOPERATIVES

The sixth cooperative principle, cooperation among cooperatives, guides co-ops to strengthen the movement and serve members effectively by working together.

During this past year, Central linemen had the opportunity to help co-ops from two states, New Mexico and Mississipi.

In 2025, two of Central’s linemen traded Oklahoma’s red dirt for the desert of Shiprock, New Mexico. Alongside eight other linemen from cooperatives across Oklahoma, they built line to provide power to New Mexico residents who had never had access to electricity.

In January of this year, two groups of linemen traveled to Mississippi to assist with recovery efforts from the devastating ice storm that affected Tallahatchie Valley Electric Power Association’s system. Central’s crews spent 23 days helping the co-op bring power back to more than 26,000 meters.

operating at a level to represent the membership

Unlike investor-owned utilities, electric cooperatives are governed by a board of trustees made up of members who live and work in the communities they serve. These individuals are neighbors, business owners, farmers, parents and community leaders who understand the unique needs of our membership because they experience them firsthand.

Central’s board of trustees serves as the voice of the membership, helping guide the cooperative with a focus on reliability, affordability and service. Every decision they make is centered around what is best for the members they represent, including investing in infrastructure, planning for future growth and maintaining financial stability.

VOLUNTARY AND OPEN MEMBERSHIP

Serving on a board is both an honor and a responsibility. Trustees dedicate countless hours to attending monthly meetings, reviewing financial reports, evaluating policies, strategic planning for the future and staying informed on the ever-changing energy industry.

national cooperative organizations. These programs provide in-depth knowledge in areas needed to guide a cooperative. Many of Central’s trustees have achieved or are working toward nationally recognized certifications through the NRECA, including the Credentialed Cooperative Director, Board Leadership Certificate and Director Gold Credential. These distinctions reflect a commitment to excellence in governance and a dedication to serving members at the highest level.

DEMOCRATIC MEMBER CONTROL MEMBERS’ ECONOMIC PARTICIPATION AUTONOMY AND INDEPENDENCE

To serve effectively, Central’s trustees pursue ongoing education and specialized training from statewide and

As Central continues to grow and evolve, strong leadership is essential. The board of trustees brings valuable experiences, local insight and a deep commitment to the cooperative principles that have guided cooperatives for generations.

EDUCATION, TRAINING AND INFORMATION COOPERATION AMONG COOPERATIVES CONCERN FOR COMMUNIT Y

We are grateful for the leaders who serve in this important role. Their guidance helps ensure Central remains member-focused, financially strong and prepared to meet the needs of today while planning for the future. Because at the end of the day, Central belongs to the members, and our trustees are proud to represent them.

A year in review

This past year has been one of meaningful growth and steady progress for Central. As our communities continue to expand, so does the demand for reliable, affordable power, and we are proud to say we’ve met that challenge while staying focused on what matters mostserving our members.

Central experienced significant growth system-wide, particularly in new services. This year, Central connected 715 new services, increasing from the 680 the year before. This steady growth reflects the continued strength of our service area as more homes, businesses and families choose to call it home.

With that growth comes increased system demand, and Central has worked diligently to ensure infrastructure keeps pace. Even as our membership expands, the rural nature of our system has remained. Central’s density continues to average five meters per mile of line. An important measure because it highlights the unique challenge of serving a wide geographic area with fewer members

spread across it. While this can increase the cost to build and maintain infrastructure, Central has remained disciplined in the approach to operations and long-term planning.

That commitment shows up where it matters most, on your monthly bill. Today, Central has the fifth-lowest residential electric rate among electric cooperatives in the state. In a time when costs are rising across the board, Central remains focused on balancing affordability with reliability, ensuring members receive the greatest possible value for every dollar.

This didn’t happen by chance. It is the result of careful financial stewardship, strategic investments in our system and a continued focus on efficiency. Every decision is made with our members in mind.

As we look ahead, we remain committed to growing responsibly and continuing to provide affordable, reliable and safe electricity to our members.

25,304 Meters

4,309 miles of line on powered by

23 substations

PEAK DEMAND

97 METERS PER MILE OF LINE

174 MW EMPLOYEES

19,000 MEMBERS

5 NEW SERVICES

50

715 MEMBERS CASHED IN ON REBATES

5TH LOWEST ELECTRIC COOPERATIVE RATE IN THE STATE

Seven cooperative Principles

Central and other cooperatives across the world operate by the same set of seven core principles that ensure the needs of members come first.

2025

Central serves 25,304 meters on 4,309 miles of line; Centranet serves more than 12,000 subscribers

2024

Centranet becomes available to all Central members

2021

VOLUNTARY AND OPEN MEMBERSHIP

VOLUNTARY AND OPEN MEMBERSHIP

DEMOCRATIC MEMBER CONTROL

2020

Centranet serves its first subscriber

MEMBERS’ ECONOMIC PARTICIPATION

Central’s board of trustees approves system-wide fiber build out and establishes Centranet

DEMOCRATIC MEMBER CONTROL

AUTONOMY AND INDEPENDENCE

DEMOCRATIC MEMBER CONTROL

AUTONOMY AND INDEPENDENCE

EDUCATION, TRAINING AND INFORMATION

MEMBERS’ ECONOMIC PARTICIPATION COOPERATION AMONG COOPERATIVES

CONCERN FOR COMMUNIT Y

VOLUNTARY AND OPEN MEMBERSHIP

DEMOCRATIC MEMBER CONTROL

MEMBERS’ ECONOMIC PARTICIPATION

MEMBERS’ ECONOMIC PARTICIPATION

MEMBERS’ ECONOMIC PARTICIPATION

1980

DEMOCRATIC MEMBER CONTROL

MEMBERS’ ECONOMIC PARTICIPATION

Central serves 9,680 members and maintains 3,166 miles of line

EDUCATION, TRAINING AND INFORMATION COOPERATION AMONG COOPERATIVES

1949

Central celebrates its 10 year anniversary and serves 2,124 members

CONCERN FOR COMMUNIT Y

AUTONOMY AND INDEPENDENCE

EDUCATION, TRAINING AND INFORMATION

COOPERATION AMONG COOPERATIVES

EDUCATION, TRAINING AND INFORMATION COOPERATION AMONG COOPERATIVES

1939

COOPERATION AMONG COOPERATIVES

The first annual meeting is held, and State is dropped from the name 1939

CONCERN FOR COMMUNIT Y

EDUCATION, TRAINING AND INFORMATION COOPERATION AMONG COOPERATIVES

CONCERN FOR COMMUNIT Y

1938

CONCERN FOR COMMUNIT Y

An $85,000 loan is secured to build 172 miles of line and serve 141 farms and homes

CONCERN FOR COMMUNIT Y

1935

Central State Rural Electric Cooperative is organized

Roosevelt establishes the Rural Electrification Act as part of the New Deal

the member experience

Central’s reliability

1.28 AVERAGE OUTAGES PER MEMBER AVERAGE OUTAGE DURATION PER MEMBER 2.29 HOURS

99.9% SYSTEM RELIABILITY UPTIME MEMBERS EXPERIENCE

Excludes

Central’s Energy Mix

Compared to publicly measured energy utilities in the ACSI® survey of customers rating their own energy utility. Results based on data provided by Central Rural Electric Cooperative, collected between November 27-December 30, 2025. ACSI did not regulate the survey administration or sample size. ACSI and its logo are registered trademarks of the American Customer Satisfaction Index LLC. For more about the ACSI, visit www.theacsi.org

“Without a doubt, Centranet provides the best residential internet service in the area. What really sets them apart is their level of service. Their team is proactive, communicative, and highly responsive. They go above and beyond to help before installation, during the install process, and afterward as well. Their customer support and attention to detail are truly exceptional.”

-Billie on Google

Miles of Fiber Line Built

Each mile added this year isn’t just a number on a map, it’s a home connected, a business empowered and a community strengthened. As our network grows, so does our commitment

to the communities we serve. Every mile of fiber laid is another step toward a more connected, resilient future; one where opportunity isn’t limited by location.

458 VOIP USERS A year in review

Connecting Communities

Why did Centranet’s fiber tech bring a ladder to work? Because we’re always looking to take our connections to the next level! And this year, that’s exactly what we’ve done.

It has always been our mission to connect communities. Not just with fast internet, but with opportunity, reliability and the tools people need to live, work and thrive. During the past year, we’ve expanded into new cities and towns across Central’s service area, some of which have never had access to fiber internet before.

In Cushing, frequent outages were more than an inconvenience; they were impacting local police operations. That’s not just a technology problem; that’s a community problem. One we’re proud to be part of solving.

As we’ve grown, so has our responsibility. Not just to provide service, but to look out for the people we serve. This year, all fiber technicians completed additional training focused on community awareness and situational preparedness. Empowering our crews who are out in the field every day is about protecting the most vulnerable among us

and being an active part of a safer, stronger community.

Because at the end of the day, fiber isn’t just about speed. It’s about connection, in every sense of the word. It’s about students being able to learn without limits, businesses growing without barriers, first responders having the tools they need and neighbors staying connected to what matters most.

That shined through this year when we were honored to be named Business of the Year by the Cushing Chamber of Commerce, the same year we launched service in that community.

We’re proud of how far we’ve come, but even more excited about where we’re going. And we’ll keep climbing that ladder, one connection at a time.

MARK PRATHER, PRESIDENT OF FIBER