Spire : Delivering essential energy Third quarter fiscal 2023 update

Delivering essential energy

Third quarter fiscal 2023 update

August 2, 2023

Participants on today's call

Suzanne Sitherwood	Steven L. Lindsey	Steven P. Rasche
President and	Executive Vice President	Executive Vice President
Chief Executive Officer	and Chief Operating Officer	and Chief Financial Officer

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Our future is bright

• Q3 results impacted by lower utility margins and higher costs
• We're continuing to invest in growth
• • Utility infrastructure upgrades, innovation
  • Supporting the industry's bright future
• Executing on our Midstream strategy
• • Centered around highly-contracted assets
  • Utility gas supply focused
  • Stable earnings, LT growth opportunities
• We are strong and well-positioned to execute on our growth strategy

3 S p i r e | T h i r d q u a r t e r f i s c a l 2 0 2 3 u p d a t e

Gas Utilities

• Solid safety, customer service, reliability and overall performance
• Financial results benefitting from new rates, offset by the headwinds of
• • Mild weather
  • • 18% warmer than normal weather
    • Partially effective weather mitigation in Alabama
  • Higher interest costs
• Our focus for remainder of 2023
• • Continued control of O&M expenses
  • Recovery of gas cost balances
  • Positioning for a rebound in FY24

4 S p i r e | T h i r d q u a r t e r f i s c a l 2 0 2 3 u p d a t e

Midstream

• Spire Storage
• • Expansion of Spire Storage West remains on track
  • Spire Salt Plains integration ongoing
• MoGas/Omega acquisition
• • Planned acquisition of pipeline and attached LDC for $175M
  • Closing expected around calendar year end
• Spire STL Pipeline
• • Continues strong, reliable operations
  • FERC certificate now permanent

5 S p i r e | T h i r d q u a r t e r f i s c a l 2 0 2 3 u p d a t e

Spire Storage expansion in Evanston, Wyo.