On April 18, 2022, Southwest Gas Holdings, Inc. announced that as a result of the receipt of an indication of interest well in excess of Carl Icahn's $82.50 per share offer, the Company Board has authorized the review of a full range of strategic alternatives to maximize stockholder value. As part of this process, the Company will evaluate a sale of the Company, as well as a range of alternatives, including, but not limited to, a separate sale of its business units and/or pursuing the previously disclosed spin-off of Centuri. A Board committee, comprised solely of independent directors, is overseeing the process.

Mr. Icahn is invited to participate in the sale process.