Sempra Energy : Q2-22 Presentation

Second Quarter 2022 Earnings Results

August 4, 2022

INFORMATION REGARDING FORWARD- LOOKING STATEMENTS

This presentation contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this presentation. W e assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.

In this presentation, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "contemplates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "target," "outlook," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vis ion, mission, opportunities, projections, intentions or expectations.

Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include risks and uncertainties relating to: California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, in rates from customers or a combination thereof; decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, and other regulatory and governmental bodies and (ii) the U .S., Mexico and states, counties, cities and other jurisdictions therein and in other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, and

1. obtaining the consent or approval of partners or other third parties, including governmental and regulatory bodies; civil and criminal litigation, regulatory inquiries, investigations, arbitrations, property disputes and other proceedings, including those related to the natural gas leak at Southern California Gas Company's (SoCalGas) Aliso Canyon natural gas storage facility; changes to laws and regulations, including certain of Mexico's laws and rules that impact energy supplier permitting, energy contract ra tes, the electricity industry generally and the import, export, transport and storage of hydrocarbons; cybersecurity threats, including by state and state-sponsored actors, to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-parties with which we conduct business, all of which have become more pronounced due to recent geopolitical events and oth er uncertainties, such as the war in Ukraine; failure of foreign governments, state-owned entities and our counterparties to honor their contracts and commitments; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, laws, rules and disclosures, as well as related goals and actions of companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and any deterioration of or increased uncertainty in the political or regulatory environment for California natural gas distribution companies and the risk of nonrecovery for stranded assets; the pace of th e development and adoption of new technologies in the energy sector, including those designed to support governmental and private party energy and climate goals, and our ability to timely and ec onomically incorporate them into our businesses; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for damages, fines and penalties, some of which may be disputed or not covered by insurers, may not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; inflationary a nd interest rate pressures, volatility in foreign currency exchange rates and commodity prices, our ability to effectively hedge these risks, and their impact, as applicable, on San Diego Gas & Electric Company's (SDG&E) and SoCalGas' cost of capital and the affordability of customer rates; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals and the execution of our operations; the impact at SDG&E on competitive customer rates and reliability due to growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Community Choice Aggregation and Direct Access, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independen t directors or a minority member director; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, such as those that have been imposed and that may be imposed in the future in connection with the war in Ukraine, which may increase our costs, reduce our competitiveness, impact our ability to do business with certain counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which are difficult to predict and beyond our control.

These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.

Data throughout this presentation is approximate.

Sempra Infrastructure, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P. I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Onco r and IEnova are not regulated by the CPUC.

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TABLE OF CONTENTS

• Executive Summary
• Business Updates
• Financial Results
• Closing Remarks

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EXECUTIVE SUMMARY

Sempra California

Sempra Texas

Sempra Infrastructure

Operating in largest economy + largest manufacturing base in U.S.1,2

Operating in fastest growing state + second largest manufacturing base in U.S.2,3

Helping to solve dual challenge of global energy transition + energy security

FINANCIAL HIGHLIGHTS

• Reporting Q2-2022 adjusted EPS of $1.98 and YTD-2022 adjusted EPS of $4.904
• Guiding to high end of FY-2022 adjusted EPS guidance range of $8.10 - $8.704
• Affirming FY-2023 EPS guidance range of $8.60 - $9.20

Continued focus on strategic execution, disciplined capital allocation, and safety + operational excellence drove strong Q2-2022 financial results

1. 2021 GDP Data. BEA.
2. BEA manufacturing employment 2020 data (November 2021).

3. 2021 Aggregate Population Growth Data. U.S. Census Bureau.

4. See Appendix for information regarding Adjusted EPS and Adjusted EPS Guidance Range, which represent non-GAAP financial measures. GAAP EPS for Q2-2022 and	4
YTD-2022 were $1.77 and $3.70, respectively. Updating GAAP EPS Guidance Range for FY-2022 to $6.90 - $7.50.

BUSINESS UPDATES

1. • SDG&E + SoCalGas filed GRCs in May for 2024 - 2027
   • 2023 - 2025 Cost of Capital final decision anticipated before year-end
   • SDG&E received CPUC approval for four new microgrid energy storage facilities1
   • SoCalGas achieved 37% methane emissions reduction, significantly exceeding state's goal of 20% reduction by 2025 + nearing state's 2030 goal of 40% reduction2
   • Oncor filed base rate review in May
   • Oncor connected 35,000 additional premises year-to-date, anticipates maintaining long-term annual trend of approximately 2% premise growth
   • Oncor had 90 new requests for transmission interconnection in Q2-2022, representing 73% year-over-year increase3
   • Oncor built or hardened nearly 480 miles of T+D lines in Q2-2022
   • Sale of 10% NCI to ADIA for $1.7B in cash proceeds completed June 2022
   • Agreement signed with Total, Mitsui, and Mitsubishi supporting Hackberry CS4
   • MOUs signed with CFE advancing growth opportunities4,5
   • Entered into series of HOAs advancing LNG development opportunities4,5
2. In June 2022, the CPUC issued Resolution E-5219 approving SDG&E's contract and cost information for four utility-ownedcircuit-level energy storage microgrid projects.
3. Amount approximated based on calculation of emissions through 2021 relative to 2015 baseline.

3.	Oncor had ~90 new transmission interconnection requests in Q2-2022, compared to ~52 new requests in Q2-2021.
4.	The ability to complete major development and construction projects is subject to a number of risks and uncertainties.	5
5.	The current arrangements do not commit any party to enter into definitive contracts, which are subject to negotiation.