#1SEMPRA Fourth Quarter 2022 Earnings Results February 28, 2023#2Information 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 statement. These forward-looking statements represent our estimates and assumptions only as of February 28, 2023. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. 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," "initiative," "target," "outlook," "optimistic," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, 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 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, rates from customers or a combination thereof; decisions, investigations, inquiries, regulations, issuances or revocations of permits or 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 governmental and regulatory 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 (iv) obtaining the consent or approval of partners or other third parties, including governmental and regulatory bodies; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third-parties with which we conduct business, including the energy grid or other energy infrastructure, all of which have become more pronounced due to recent geopolitical events, such as the war in Ukraine; our ability to borrow money on favorable terms and meet our debt service obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook or (ii) rising interest rates and inflation; failure of foreign governments, state-owned entities and our counterparties to honor their contracts and commitments; the impact on affordability of San Diego Gas & Electric Company's (SDG&E) and Southern California Gas Company's (SoCalGas) customer rates and their cost of capital and on SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass through higher costs to current and future customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of the clean energy transition in California, (iii) with respect to SDG&E's business, departing retail load resulting from additional customers transferring to Community Choice Aggregation and Direct Access, and (iv) with respect to Sempra Infrastructure's business, volatility in foreign currency exchange rates; the impact of climate and sustainability policies, laws, rules, disclosures, and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies and the risk of nonrecovery for stranded assets; our ability to incorporate new technologies into our businesses, including those designed to support governmental and private party energy and climate goals; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials, cause fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms, may be disputed or not covered by insurers, or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, pipeline system or limitations on the withdrawal of natural gas from storage facilities; 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 independent 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 Infrastructure Partners, Sempra Texas, 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 Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SEMPRA | 2#3Table of Contents Executive Summary Strategy Updates • Business Updates Financial Updates Closing Remarks SEMPRA | 3#4Executive Summary Sempra's North American strategy creates alignment across its business platforms and improves corporate execution and financial performance Sempra California is investing in infrastructure to create an increasingly safe and reliable system, support electrification, and deliver cleaner fuels Sempra Texas is making key investments that support system growth, reliability, and resiliency Sempra Infrastructure is delivering global solutions to customers supporting energy security and the energy transition GUIDANCE Affirming FY-2023 EPS guidance range of $8.60 – $9.20 Reiterating projected EPS growth rate of 6% - 8%¹ 1. Based on midpoint of 2023 EPS guidance range. SEMPRA | 4#5Strategic Focus Our Vision, Mission, and Values inform corporate strategy, align business activities, and support the goal of delivering superior financial performance DO THE RIGHT THING VISION Delivering energy with purpose MISSION To be North America's premier energy infrastructure company We are guided by our ethics, our focus on safety and our willingness to stand for what is right. VALUES CHAMPION PEOPLE We invest in people and value diversity and inclusion because it elevates performance and helps us partner responsibly. SHAPE THE FUTURE We are forward thinkers who innovate and collaborate with stakeholders to make a positive difference. HIGH-PERFORMANCE CULTURE SEMPRA Five Strategic Elements Building positions as a leader in large economic markets 2. Investing in T+D infrastructure with strong, risk-adjusted, recurring cash flows 3. Establishing a leadership position in sustainable business practices 4. Promoting a high-performance culture 5. Delivering strong financial performance SEMPRA | 5#6Growth + Improved Business Mix' Since 2017, we have simplified our business model, strengthened our position as a leader in some of North America's largest markets, and improved financial performance 2017 Adj. Earnings $1.39B2 2022 Adj. Earnings $2.92B2 Renewables Sempra California Sempra Texas LNG + Sempra California Mexico South America Sempra California 87% North America 13% South America³ Sempra California Sempra Infrastructure Sempra California SDG&E 100% North America SoCalGas Charts are illustrative and exclude earnings (losses) from Parent and Other. 12 1. 2. 3. Included in Discontinued Operations. See Appendix for information regarding Adjusted Earnings, which is a non-GAAP financial measure. GAAP Earnings for 2017 and 2022 were $256M and $2,094M, respectively. SEMPRA | 6#7Business Updates SEMPRA CALIFORNIA • SEMPRA TEXAS SEMPRA INFRASTRUCTURE • SDG&E completed hardening of Tier 3 HFTD transmission lines SDG&E received final 2022 Cost of Capital decision SDG&E + SoCal Gas received final 2023-2025 Cost of Capital decision SoCal Gas received approval to track costs in first phase of Angeles Link 1,2 ⚫ DOE encouraged California to advance Hydrogen Hub to next application phase ⚫ In 2022, Oncor: • ☐ Set company records for new + active transmission interconnection requests Built or hardened 1,950 miles of T+D lines Connected 64,000 additional premises Achieved strong reliability results, nearly 5% improvement in non-storm SAIDI score Oncor base rate review ongoing, expect final order around end of Q1-2023 Cameron LNG Phase 1 outperformed production targets Clean Power + Energy Networks businesses growing with new projects coming online Construction advanced at ECA LNG Phase 1 Commercial momentum through execution of definitive offtake agreements for Port Arthur LNG Phase 1 Regulatory + environmental advancements at LNG + Net-Zero Solutions business 1. 2. The ability to complete major development and construction projects is subject to a number of risks and uncertainties. D.22-12-055 authorizes SoCal Gas to record costs of performing Phase One feasibility studies for the Angeles Link proposal. Further CPUC approval will be needed to recover Phase One costs, to track and recover the costs of future project phases, and for various other aspects of development. SEMPRA | 7#8Port Arthur LNG Phase 1' EPC Contract FID Target VALUE PROPOSITION Strategically located on Gulf Coast Access to attractive natural gas supply 10.5 Mtpa of SPAs under long-term contracts2 FERC Order + DOE export permits SI targeting mid-teens equity return PROJECT DETAILS $10.5B fixed-price with Bechtel³ Capacity • Q1-2023 • 13 Mtpa (Nameplate) • 2 trains . 2 x 160,000 cubic meters storage tanks • Gas Supply Manager ConocoPhillips SPAS² 2 . ConocoPhillips, RWE, INEOS, PKN ORLEN, ENGIE 1. The ability to complete major development and construction projects is subject to a number of risks and uncertainties. Projected capacities represent 100% of the project, not Sempra's ownership share. 2. Subject to making a positive final investment decision. 3. Contract price is subject to certain adjustments. Please see the Current Report on Form 8-K filed by Sempra with the SEC on 10/20/2022 for more information. SEMPRA | 8#9Cameron LNG Phase 2' 1 Nameplate Capacity . Permits EPC . MARKETING OVERVIEW 2 100% offtake under HOAs • 49.8% Total, Mitsui, and Japan LNG Investment³ • 50.2% Sempra Infrastructure back-to-back PKN ORLEN ■ Williams4 PROJECT DETAILS 6 Mtpa (Train 4) + 1 Mtpa (Debottlenecking) FERC amendment in process - Environmental Assessment received citing no adverse impacts • Competitive FEED process targeting completion summer 2023 1. 234 Debottlenecking • HOA provides for allocation of 25% of volumes to Sempra Infrastructure + 75% of volumes to the other Cameron LNG Members² The ability to complete major development and construction projects is subject to a number of risks and uncertainties. Projected capacities represent 100% of the project, not Sempra's ownership share. The current arrangements do not commit any party to enter into definitive contracts, which are subject to negotiation. Joint venture between Mitsubishi and Nippon Yusen Kabushiki Kaisha. Parties to agree on volume allocation between Cameron LNG Phase 2 and Port Arthur LNG Phase 2, and this term, among others, is being negotiated. SEMPRA | 9#10Q4 + FY-2022 Financial Results (Dollars and shares in millions, except EPS) GAAP Earnings Impact Associated with Aliso Canyon Litigation and Regulatory Matters Impact from Foreign Currency and Inflation on our Monetary Positions in Mexico and Associated Undesignated Derivatives Net Unrealized Losses (Gains) on Derivatives Net Unrealized Gains on a Contingent Interest Rate Swap Related to the Proposed PA LNG Phase 1 Project Costs Associated with Early Redemptions of Debt¹ Deferred Income Tax Expense Associated with the Change in our Indefinite Reinvestment Assertion Related to the Sale of NCI to ADIA Net Income Tax Expense Related to the Utilization of a Deferred Income Tax Asset Earnings from Investment in RBS Sempra Commodities LLP Adjusted Earnings² Diluted Weighted-Average Common Shares Outstanding GAAP EPS Adjusted EPS2 Three months ended December 31, Years ended December 31, 2022 2021 2022 2021 (Unaudited) $ 438 $ 604 $ 2,094 $ 1,254 16 199 1,148 75 3 164 44 247 (129) 355 47 (17) (17) - 122 122 | II 120 72 72 (50) $ 743 688 $ 2,915 $ 2,637 316 320 316 313 $ 1.39 $ 1.90 $ 6.62 $ 4.01 2.35 2.16 $ 9.21 $ 8.43 Sempra's 2022 adjusted EPS results increased by 9% year-over-year² SEMPRA 10 1. Costs associated with early redemptions of debt include ($92M) at Parent and ($30M) at Sempra Infrastructure. 2. See Appendix for information regarding non-GAAP financial measures and descriptions of adjustments. Sempra's 2022 GAAP EPS results increased by 65% year-over-year.#11FY-2022 Adjusted Earnings Drivers $110M ($250M) $160M $46M ($52M) $120M Primarily Increased Higher Tax Benefits, Primarily Related to Deferreds² ($17M) Higher NC12 $2,915M $161M Higher Higher Net Primarily Equity $2,637M Higher CPUC Base Operating Margin Net of Expenses through Items + Resolution of Prior Year Tax Matter Interest Expense SDG&E Increased Earnings + Flow- Investment + New Assets Higher Consumption + Customer Growth Coming Online² FY-20211 1. 2. SEMPRA CALIFORNIA SEMPRA TEXAS SEMPRA INFRASTRUCTURE FY-20221 OTHER See Appendix for information regarding Adjusted Earnings, which is a non-GAAP financial measure. GAAP Earnings for Sempra for FY-2022 and FY-2021 were $2,094M and $1,254M, respectively. See Appendix for information regarding Adjusted Earnings Drivers at Sempra Infrastructure, which are non-GAAP financial measures. GAAP Earnings drivers from increased equity earnings + new assets coming online, higher tax benefits primarily related to deferreds, and lower NCI at Sempra Infrastructure were $144M, $50M, and $1M, respectively. SEMPRA 11#12Closing Remarks At Sempra, we take a lot of pride in our past performance, and importantly it gives us confidence in our ability to execute our strategy in the future Reporting FY-2022 adjusted EPS of $9.21 compared to FY-2021 adjusted EPS of $8.431 Increased annualized dividend for the 13th consecutive year to $4.76 from $4.58 per common share² GUIDANCE • Affirming FY-2023 EPS guidance range of $8.60 – $9.20 - Reiterating projected EPS growth rate of 6% - 8%³ See Appendix for information regarding Adjusted EPS, which is a non-GAAP financial measure. GAAP EPS for FY-2022 and FY-2021 was $6.62 and $4.01, respectively. The amount and timing of dividends payable for the remaining quarters of 2023 and the dividend policy are at the sole discretion of the Sempra Board of Directors. Dividends may be in amounts that are less than projected. Targeting 50% - 60% dividend payout ratio. 1. 2. 3. Based on midpoint of 2023 EPS guidance range. SEMPRA 12#13Appendix I SEMPRA | 13#14Western Natural Gas Winter Market Imbalance California Energy Commission Submittal at Feb-2023 CPUC En Banc¹ Winter 2022-2023 Natural Gas Hub Prices ($/MMbtu) Sumas November $9.58 Kingsgate November $5.32 December $26.35 December $13.61 Montana January $12.45 January $3.50 Stanfield November $9.10 December $25.12 January $15.05 Idaho Opal November $8.42 December $27.30 January $16.31 sing Malin November $9.39 December $27.02 January $15.55 California PG&E Citygate November $10.05 December $28.49 January $16.50 SoCal Citygate November $9.49 December $30.22 January $18.34 Las Vegas November $9.13 December $29.29 January $17.29 1. 23 2. 3. Utah Colorado San Juan Basin November $6.93 December $17.92 January $12.77 Ö January $1.53 . $5.00 $10.00 $15.00 $18.56 U.S. Department of Energy (DOE) Energy Information Administration (EIA): Analysis of High Gas Prices² Widespread, below-normal temperatures South Dakota • High natural gas consumption Nebraska • United States Lower natural gas flows from Canada Kansas • Pipeline constraints, including Arizon SoCal Border Average Southern AZ/NM November $8.71 December $32.14 January $18.56 ico November $8.29 December $26.57 January $16.96 Texas Waha/Permian Basin November $3.87 Sonora December $3.04 C January $1.53 Loanuita de Okla · maintenance in West Texas³ Low natural gas storage levels in the Pacific region California Energy Commission presentation during the CPUC En Banc: Current Gas Market Conditions & Impacts of Gas Prices on Electricity Markets on February 7, 2023. EIA Natural Gas Weekly Update December 21, 2022 and EIA Today in Energy January 24, 2023. In August 2021, El Paso Natural Gas Pipeline (EPNG) Line 2000 experienced a rupture in Coolidge, AZ which resulted in reduced pressure and a reduction of approximately 610 million dekatherms in throughput. See February 7, 2023 CPUC En Banc presentations. SEMPRA 14#15• • Resources + Assistance Programs SDGE™ SDG&E offers numerous programs including bill discounts, payment arrangements, energy efficiency, and shareholder-funded bill assistance and community programs to support its customers and the communities it serves Acceleration of the disbursement of California Climate Credits to be applied to customer gas and electric bills in February and March $16M in shareholder funded contributions to support customers with bill assistance and non-profit community organizations that provide essential services to vulnerable customers Level Pay program for customers that may need extra time paying their bills CARE program offers qualifying low-income customers up to a 35% discount on electric bills and a 20% discount on gas bills Arrearage Management Program offers qualifying low-income customers debt relief with 12 months of on-time payment of current bills ⚫ LIHEAP - federal government program that helps low-income customers access $10M in assistance • Medical Baseline program that offers lower cost electricity and gas for customers with specific medical needs and qualifying devices FERA program that provides an 18% discount on bills for qualifying households of 3 or more Energy efficiency programs designed to help customers save longer-term on their energy bills SEMPRA | 15#16· • • Resources + Assistance Programs (Soc SoCalGas SoCal Gas is supporting customers through numerous programs including bill discounts, payment arrangements, energy efficiency, and shareholder-funded bill assistance and community programs Acceleration of the disbursement of California Climate Credits being applied to customer gas bills in February and March $11M in shareholder funded contributions to support customers with bill assistance and bolster community resources for those who may be struggling financially Level Pay Plan program for customers to smooth bill amounts over 12 months, reducing seasonal changes CARE program offers qualifying low-income. customers a 20% discount on gas bills • Arrearage Management Program offers qualifying low-income customers debt relief with 12 months of on-time payment of current bills LIHEAP - federal government program that helps low-income customers Medical Baseline program provides lower rates for customers with specific medical needs Energy efficiency programs designed to help customers save longer-term on their energy bills SEMPRA 16#17• • • 2022 Sustainability Highlights SEMPRA INVESTOR'S BUSINESS DAILY BEST ESG COMPANIES Recognized as a leader in sustainable business practices with over 100 ESG awards Member of Dow Jones CENTER FOR Sustainability Indices TOP WORK PLACES The San Diego Union-Tribune 2022 POLITICAL ACCOUNTABILITY Sempra is Powered by the S&P Global CSA a 2022 Top Workplace Forbes 2022 THE BEST EMPLOYERS FOR DIVERSITY FORTUNE MOST ADMIRED COMPANIES POWERED BY STATISTA □ BEST HUMAN RIGHTS PLACES TO WORK 2022 for LGBTQ+ Equality 100% CORPORATE EQUALITY INDEX NOD 2022 LEADING DISABILITY EMPLOYER ENVIRONMENTAL SOCIAL & GOVERNANCE Bloomberg Gender-Equality Index 2022 Strengthened governance with a 91% independent board leadership across a diverse and cross-disciplined set of backgrounds + 55% women and/or people of color Affirmed sustainability priorities in 14th annual sustainability report – safety, resilience, people, and energy transition SEMPRA CALIFORNIA SoCal Gas was the first gas-only utility in the U.S. to issue a green bond ($600M) - SoCalGas unveiled the H2 Innovation Experience first project of its kind in the U.S. to demonstrate renewable hydrogen SoCalGas reduced fugitive methane emissions by more than 37% - surpassing CA's goal of a 20% reduction by 2025¹ SDG&E completed 95 MW battery storage projects + launched VPP to strengthen community resilience SDG&E unveiled region's first V2G project to support bi-directional energy flow • . SEMPRA TEXAS Oncor connected 2,000+ MW of renewable power to the ERCOT grid; with over 900 MW reaching commercial operation Oncor issued its first green bond ($400M) Improved Oncor's Sustainalytics ESG Rating reflecting low ESG risk² Oncor announced collaboration with Toyota Motor North America to study the impacts and benefits of V2G transactions on the grid SEMPRA INFRASTRUCTURE Announced MOU to reduce Cameron LNG Scope 2 emissions with purchase of renewable energy from Entergy Louisiana³ Announced PPA with Silicon Valley Power for long-term supply of renewable energy to California from the proposed Cimarron wind project* 4 Advanced Hackberry CS project with agreement with Total, Mitsui + Mitsubishi Announced HOA with AVANGRID for potential development of green hydrogen + ammonia projects 3,4 Percentage calculations are through 2021 and based upon a 2015 emissions baseline. SB 1371 and D. 19-08-020 require California gas corporations to reduce methane emissions by 20% below 2015 baseline by 2025 and 40% below 2015 baseline by 2030. Utilities' progress toward state goals are tracked and reported via CPUC-mandated annual reports. 1. 2. 3. The current arrangements do not commit any party to enter into definitive contracts, which are subject to negotiation. 4. Sustainalytics, a Morningstar Company, is a leading independent ESG research, ratings, and data firm and has provided the ESG Risk Rating research set forth in the ESG Risk Rating Summary Report; available in the Investor Relations section of Oncor's website. The ability to complete major construction and development projects is subject to a number of risks and uncertainties. SEMPRA | 17#18Sempra California | Key Metrics SDG&E SOCALGAS 2023 Authorized Capital Structure + Rates of Return¹ CPUC: 52.00% / 9.95% Equity Layer / ROE • FERC: 10.60%² Preferred Equity CPUC: 2.75% / 6.22% CPUC: 45.25% / 4.05% Debt • FERC: 3.80%² Key Dates Revenue Request | Attrition (2025-2027)* Key Dates CCM Benchmark Current Actual CCM Average (Oct-Jan) Deadband Period 2024 - 2027 Period 2023-2025 • CPUC: 52.00% / 9.80% • CPUC: 2.40% / 6.00% CPUC: 45.60% / 4.07% Final Decision Dec-2022 2024 GRC³ $3.0B | 8% 11% $4.4B | 6% - 8% Test Year 2024 Filing Date May-2022 Proposed Decision Scheduled Q2-2024 Cost of Capital Mechanism Moody's Baa (4.367%) Moody's A (4.074%) 5.825% 5.531% Lower 3.367% / Upper 5.367% Lower 3.074% / Upper 5.074% Authorized amounts represent SDG&E's and SoCalGas' CPUC 2023 - 2025 Cost of Capital decision (D.22-12-031). This decision is separate from the GRC filings. The FERC ROR calculation uses the actual capital structure as of December 31st of each year. For FERC ROE, SDG&E FERC TO5 Offer of Settlement Filing (Docket No. ER19-221). For FERC cost of debt, SDG&E FERC TO5 Cycle 5 Annual Informational Filing, 12/1/2022. 1. 2. 3. 4. 5. CCM triggers, if applicable, at the end of each CCM measurement period on September 30 and would be effective for the following year. SDG&E (A.22-05-016) and SoCalGas (A.22-05-015) GRC applications are subject to CPUC approval. The CPUC's decision and its timing may differ materially and adversely from requests in the applications. Represents a range; amounts in each of the attrition years may differ significantly. SEMPRA 18#19Sempra Texas | Oncor Key Metrics: Equity Layer/ROE2 Debt² Test Year Effective Period Rate Review Key Dates Post-Rate Case Update Mechanism ONCOR Requested 45% / 10.3% (Authorized 42.5% / 9.8%) Requested 55% (Authorized 57.5%) 2021 (historical)³ Estimated 2023-20264 Cost of capital, cost of service (O&M), prudency review for new assets in service Expect final order around end of Q1-2023 DCRF Anticipated Filing Date: May 20235 for 12/31/21 test year, TCOS Anticipated Filing Date: July 20236 1. 234 5. 56 6. Oncor's base rate review is subject to PUCT approval. The final approved decision and decision timing may differ materially and adversely from any and all requests made therein. Represents request in base rate review. Docket Number: 53601. Authorized numbers reflect current regulatory capital structure and ROE. Represents actual year-end 2021 revenue with certain adjustments. Revenue request of 4.5% increase over current adjusted rates. Based on PUCT rule that base rate review must be filed every four years. However, the PUCT or cities with jurisdiction over rates can call Oncor in for a base rate review, or Oncor can request a base rate review, prior to that time. Assumes approval of Oncor's request for an extension of the DCRF filing deadline in PUCT Docket No. 54648. PUCT rules permit filing of DCRF once a year and TCOS twice a year to recover certain capital investments. SEMPRA 19#20Sempra Infrastructure Growth Pipeline LNG + NET-ZERO SOLUTIONS2 ECA LNG Phase 13 (~3 Mtpa) Cameron LNG Phase 2 Train 1-3 Debottlenecking (~1 Mtpa) • • . • Commentary COD expected summer 2025 Targeting online in stages prior to Cameron LNG Train 4 MOU: Entergy Louisiana 1 Progressing with Cameron LNG Members + FEED contractors Sl plans to sell its offtake back-to-back under long-term contracts HOAS: PKN ORLEN + Williams Train 4 (~6 Mtpa) Port Arthur LNG Phase 1 (~13 Mtpa) • SPAS: ConocoPhillips, RWE, INEOS, PKN ORLEN, ENGIE . HOAs: Williams + INEOS Vista Pacifico LNG . MOUS: Total + CFE ECA LNG Phase 2 (~12 Mtpa) • HOA: ConocoPhillips | MOUS: Total + Mitsui Port Arthur LNG Phase 2 (~6-13 Mtpa) (~2 Mtpa) Hackberry CS ENERGY NETWORKS Topolobampo Terminal³ GRO Expansion³ . • Participation agreement: Total, Mitsui + Mitsubishi Commentary • Construction completed, pending regulatory requirements Expanding gas pipeline delivery to ECA LNG Phase 1+ Baja • Delivering gas to Cameron LNG Phase 2 • Developing gas infrastructure between Sonora + Baja Commentary CIP Expansion Pitic Pipeline CLEAN POWER2 Cimarrón • Executed 20-year PPA with Silicon Valley Power | 300 MW 1. 2. 3. The ability to complete major construction and development projects is subject to a number of risks and uncertainties. Projected nameplate capacity represents 100% of the project, not Sempra's ownership share. Capacities are illustrative and approximate. As these projects have reached FID, they are reflected in financial plan. 4. The current arrangements do not commit any party to enter into definitive contracts, which are subject to negotiation. Status Construction Development Development | Complete FEED targeted summer 2023 Development | FID targeted Q1-2023 Development Development Development Development Status Commissioning | COD targeted 1H-2023 Construction | COD targeted 1H-2024 Development Development Status Development SEMPRA | 20#21Appendix II Business Unit Earnings SEMPRA | 21#22Sempra California | SDG&E (Dollars in millions) SDG&E GAAP Earnings Q4-2022 earnings are higher than Q4-2021 earnings primarily due to: • $8M higher CPUC base operating margin, net of operating expenses, • $6M higher AFUDC equity, • $6M higher net regulatory interest income, and • Three months ended December 31, Years ended December 31, 2022 2021 2022 2021 $ (Unaudited) 234 $ 216 $ 915 $ 819 $5M lower income tax expense primarily from flow-through items and the resolution of prior year income tax items, partially offset by • $7M higher net interest expense FY-2022 earnings are higher than FY-2021 earnings primarily due to: • $56M higher CPUC base operating margin, net of operating expenses, • • $26M lower income tax expense primarily from flow-through items, net of lower associated regulatory revenues, $20M higher income tax benefit from the resolution of prior year income tax items, $9M higher net regulatory interest income, and $7M higher AFUDC equity, partially offset by • $26M higher net interest expense SEMPRA 22#23Sempra California | SoCalGas (Dollars in millions) SoCal Gas GAAP Earnings (Losses) Impact Associated with Aliso Canyon Litigation and Regulatory Matters SoCal Gas Adjusted Earnings¹ Three months ended December 31, Years ended December 31, 2022 2021 2022 2021 $ (Unaudited) 260 $ 198 $ 16 599 $ 199 (427) $ 260 $ 214 $ 798 $ 1,148 721 Q4-2022 earnings are higher than Q4-2021 adjusted earnings primarily due to: $55M higher CPUC base operating margin, net of operating expenses, partially offset by • $16M higher net interest expense FY-2022 adjusted earnings are higher than FY-2021 adjusted earnings primarily due to: $105M higher CPUC base operating margin, net of operating expenses, • $7M higher AFUDC equity, and • $6M higher net regulatory interest income, partially offset by • $26M higher net interest expense, and $10M in penalties related to the energy efficiency and advocacy OSCS 1. See Appendix for information regarding Adjusted Earnings, which represents a non-GAAP financial measure. SEMPRA 23#24Sempra Texas Utilities (Dollars in millions) Sempra Texas Utilities GAAP Earnings Three months ended December 31, Years ended December 31, 2021 2022 2021 2022 $ (Unaudited) 132 $ 137 $ 736 $ 616 Q4-2022 earnings are lower than Q4-2021 earnings primarily due to lower equity earnings from Oncor Holdings driven by: • • lower revenues from an annual energy efficiency program performance bonus approved in the third quarter of 2022 compared to the fourth quarter of 2021, • higher depreciation expense and interest expense attributable to invested capital, and higher operation and maintenance expense, partially offset by higher revenues from higher customer consumption attributable primarily to weather, rate updates to reflect increases in invested capital, and customer growth FY-2022 earnings are higher than FY-2021 earnings primarily due to higher equity earnings from Oncor Holdings driven by: • higher revenues from rate updates to reflect increases in invested capital, higher customer consumption attributable primarily to weather, and customer growth, partially offset by higher depreciation expense and interest expense attributable to invested capital, and • higher operation and maintenance expense SEMPRA 24#25Sempra Infrastructure 1. (Dollars in millions) Sempra Infrastructure GAAP (Losses) Earnings Impact from Foreign Currency and Inflation on our Monetary Positions in Mexico and Associated Undesignated Derivatives Net Unrealized Losses (Gains) on Commodity Derivatives Net Unrealized Gains on a Contingent Interest Rate Swap Related to the Proposed PA LNG Phase 1 Project Costs Associated with Early Redemptions of Debt Sempra Infrastructure Adjusted Earnings1 Three months ended December 31, Years ended December 31, 2022 2021 2022 2021 (Unaudited) $ (82) $ 263 SA $ 310 $ 682 75 247 3 162 43 (129) 355 47 (17) $ 223 $ 136 (17) 30 30 167 $ 810 $ 802 Q4-2022 adjusted earnings are higher than Q4-2021 adjusted earnings primarily due to: $56M higher equity earnings from Cameron LNG JV higher revenues from excess LNG production, $40M higher net income tax benefit primarily from the remeasurement of certain deferred income taxes and outside basis differences in JV investments, $23M higher earnings from asset and supply optimization driven by changes in natural gas prices, primarily associated with ECA Regas Facility $20M higher earnings from the transportation business in Mexico driven by higher rates and higher equity earnings at IMG, partially offset by $125M earnings attributable to NCI in 2022 compared to $62M earnings in 2021 primarily due to an increase in SI Partners subsidiaries net income and the sale of a 10% NCI in SI Partners to ADIA in June 2022, and $21M higher net interest expense primarily related to lower interest income from loan with IMG and higher interest expense on SI Partners committed line of credit FY-2022 adjusted earnings are higher than FY-2021 adjusted earnings primarily due to: • $110M higher net income tax benefit primarily from the remeasurement of certain deferred income taxes and outside basis differences in JV investments, $79M higher equity earnings from Cameron LNG JV primarily from higher revenues from excess LNG production and maintenance revenues, $41M higher earnings from the transportation business in Mexico driven by higher rates and higher equity earnings at IMG, $25M higher earnings from TdM driven by higher power prices offset by lower volumes, $21M higher earnings from asset and supply optimization driven by changes in natural gas prices and higher diversion revenues, primarily associated with ECA Regas Facility $15M higher earnings due to the start of commercial operations of the Veracruz and Mexico City terminals in March and July of 2021, respectively, and remeasurement of operating leases, and $13M higher earnings from the renewables business due to Border Solar and the second phase of ESJ being placed in service in March 2021 and January 2022, respectively, partially offset by $366M earnings attributable to NCI in 2022 compared to $116M earnings in 2021 primarily due to the sale of a 10% NCI in SI Partners to ADIA in June 2022 and an increase in SI Partners subsidiaries net income offset by higher ownership interest in IEnova $21M higher net interest expense primarily related to lower interest income from loan with IMG and higher interest expense on SI Partners committed line of credit, $13M selling profit on a sales-type lease relating to the commencement of a rail facility lease at the Veracruz terminal in 2021 See Appendix for information regarding Adjusted Earnings, which represents a non-GAAP financial measure. SEMPRA 25#26Parent & Other Three months ended December 31, Years ended December 31, (Dollars in millions) 2022 2021 2022 2021 (Unaudited) Parent & Other GAAP Losses $ (106) $ (210) $ (466) $ (436) Impact from Foreign Currency and Inflation on our Monetary Positions in Mexico and Associated Undesignated Derivatives 2 1 Costs Associated with Early Redemptions of Debt 92 Net Income Tax Expense Related to the Utilization of a Deferred Income Tax Asset 22 92 Deferred Income Tax Expense Associated with the Change in our Indefinite Reinvestment Assertion Related to the Sale of NCI to ADIA 72 120 72 Earnings from Investment in RBS Sempra Commodities LLP Parent & Other Adjusted Losses¹ (50) $ (106) $ (46) $ (344) $ (321) Q4-2022 losses are higher than Q4-2021 adjusted losses primarily due to: · $26M gain on the sale of PXISE in December 2021, • $22M higher income tax expense from the interim period application of an annual forecasted consolidated ETR, and • $16M lower net investment gains on dedicated assets in support of our employee nonqualified benefit plan and deferred compensation obligations, partially offset by $16M higher income tax benefit from changes to a valuation allowance against certain tax credit carryforwards FY-2022 adjusted losses are higher than FY-2021 adjusted losses primarily due to: $50M net investment losses in 2022 compared to $29M net investment gains in 2021 on dedicated assets in support of our employee nonqualified benefit plan and deferred compensation obligations, and $26M gain on the sale of PXISE in December 2021, partially offset by $19M lower preferred dividends due to the mandatory conversion of all series B preferred stock in July 2021 1. See Appendix for information regarding Adjusted Losses, which represents a non-GAAP financial measure. SEMPRA 26#27Appendix III Non-GAAP Financial Measures SEMPRA | 27#28Adjusted Earnings and Adjusted EPS (Unaudited) Sempra Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests (NCI)) in 2022 and 2021 as follows: Three months ended December 31, 2022: $(75)M impact from foreign currency and inflation on our monetary positions in Mexico $(247)M net unrealized losses on commodity derivatives $17M net unrealized gains on a contingent interest rate swap related to the proposed initial phase of the Port Arthur LNG liquefaction project (PA LNG Phase 1 project) Three months ended December 31, 2021: $(16)M impact associated with Aliso Canyon natural gas storage facility litigation at Southern California Gas Company (SoCalGas) $(3)M impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $129M net unrealized gains on commodity derivatives $(30)M in charges associated with hedge termination costs and a write-off of unamortized debt issuance costs from the early redemptions of debt at Sempra Infrastructure in October 2021 $(92)M in charges associated with make-whole premiums and a write-off of unamortized discount and debt issuance costs from the early redemptions of debt at Parent and other in December 2021 $(72)M net income tax expense related to the utilization of a deferred income tax asset upon completing the sale of a 20% NCI in Sempra Infrastructure Partners, LP (SI Partners) to KKR Pinnacle Investor L.P. (KKR) in October 2021 Year ended December 31, 2022: $(199)M impact associated with Aliso Canyon natural gas storage facility litigation and regulatory matters at SoCalGas $(164)M impact from foreign currency and inflation on our monetary positions in Mexico $(355)M net unrealized losses on commodity derivatives $17M net unrealized gains on a contingent interest rate swap related to the proposed PA LNG Phase 1 project $(120)M deferred income tax expense associated with the change in our indefinite reinvestment assertion as a result of progress in obtaining regulatory approvals necessary to close the sale of a 10% NCI in SI Partners to Abu Dhabi Investment Authority (ADIA) Year ended December 31, 2021: $(1,148)M impact associated with Aliso Canyon natural gas storage facility litigation at SoCal Gas $(44)M impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $(47)M net unrealized losses on commodity derivatives $(30)M in charges associated with hedge termination costs and a write-off of unamortized debt issuance costs from the early redemptions of debt at Sempra Infrastructure in October 2021 $(92)M in charges associated with make-whole premiums and a write-off of unamortized discount and debt issuance costs from the early redemptions of debt at Parent and other in December 2021 $(72)M net income tax expense related to the utilization of a deferred income tax asset upon completing the sale of a 20% NCI in SI Partners to KKR in October 2021 $50M equity earnings from investment in RBS Sempra Commodities LLP, which represents a reduction to an estimate of our obligations to settle pending value added tax (VAT) matters and related legal costs at our equity method investment at Parent and other Sempra Adjusted Earnings and Adjusted EPS are non-GAAP financial measures (GAAP represents generally accepted accounting principles in the United States of America). These non- GAAP financial measures exclude significant items that are generally not related to our ongoing business activities and/or are infrequent in nature. These non-GAAP financial measures also exclude the impact from foreign currency and inflation effects on our monetary positions in Mexico and associated undesignated derivatives and unrealized gains and losses on commodity derivatives, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below reconciles for historical periods these non-GAAP financial measures to Sempra GAAP Earnings and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. SEMPRA | 28#29Adjusted Earnings and Adjusted EPS (Unaudited) (Dollars in millions, except per share amounts; shares in thousands) Pretax Income tax expense Non- controlling amount (benefit)1 interests Earnings Three months ended December 31, 2022 $ 438 Pretax amount Income tax Non- (benefit) controlling expense¹ interests Earnings Three months ended December 31, 2021 Sempra GAAP Earnings Excluded items: Impact associated with Aliso Canyon litigation $ 604 $ $ $ $ 22 $ (6) $ 16 Impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives 19 89 (33) 75 8 (4) (1) 3 Net unrealized losses (gains) on commodity derivatives 486 (96) (143) 247 (222) 49 44 (129) Net unrealized gains on a contingent interest rate swap related to the proposed PA LNG Phase 1 project (33) 6 10 (17) Costs associated with early redemptions of debt 180 Net income tax expense related to the utilization of a deferred income tax asset Sempra Adjusted Earnings (51) 72 སེ། $ 743 122 72 688 Diluted EPS: Weighted-average common shares outstanding, diluted Sempra GAAP EPS Sempra Adjusted EPS 316,148 $ 1.39 $ 2.35 Year ended December 31, 2022 $ 2,094 319,510 $ 1.90 $ 2.16 Year ended December 31, 2021 Sempra GAAP Earnings $ 1,254 Excluded items: Impact associated with Aliso Canyon litigation and regulatory matters $ 259 $ (60) $ 199 $ 1,593 $ (445) $ 1,148 Impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives 49 169 (54) 164 44 4 Net unrealized losses on commodity derivatives 669 (138) (176) 355 23 (18) 42 Net unrealized gains on a contingent interest rate swap related to the proposed PA LNG Phase 1 project (33) 6 10 (17) ཙསྦ 1 (4) 44 47 Deferred income tax expense associated with the change in our indefinite reinvestment assertion related to the sale of NCI to ADIA 120 120 Costs associated with early redemption of debt 180 (51) Net income tax expense related to the utilization of a deferred income tax asset 72 (50) | |སྱེ། 122 72 $ 2,915 (50) $ 2,637 Earnings from investment in RBS Sempra Commodities LLP Sempra Adjusted Earnings Diluted EPS: Weighted-average common shares outstanding, diluted Sempra GAAP EPS Sempra Adjusted EPS Sempra GAAP Earnings CAGR (YTD 2021 to YTD 2022) Sempra Adjusted Earnings CAGR (YTD 2021 to YTD 2022) 1. 67 % 11 % 316,378 $ 6.62 $ 9.21 Sempra GAAP EPS CAGR (YTD 2021 to YTD 2022) Sempra Adjusted EPS CAGR (YTD 2021 to YTD 2022) Except for adjustments that are solely income tax, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. We did not record an income tax expense for the equity earnings from our investment in RBS Sempra Commodities LLP because, even though a portion of the liabilities may be deductible under United Kingdom tax law, it is not probable that the deduction will reduce United Kingdom taxes. 313,036 $ 4.01 $ 8.43 65 % 9% SEMPRA | 29#30Adjusted Earnings (Losses) by Business Units (Unaudited) (Dollars in millions) GAAP Earnings (Losses) Impact from foreign currency and inflation on our monetary positions in Mexico, net of $89 income tax expense and $(33) for NCI Net unrealized losses on commodity derivatives, net of $96 income tax benefit and $(143) for NCI Three months ended December 31, 2022 SDG&E SoCalGas Sempra California $ 234 $ 260 $ 494 $ Sempra Sempra Texas Utilities Infrastructure 132 $ Parent & Other Total Sempra (82) $ (106) $ 438 75 75 247 247 494 $ 132 $ (17) 223 $ (17) (106) $ 743 Net unrealized gains on a contingent interest rate swap related to the proposed PA LNG Phase 1 project, net of $6 income tax expense and $10 for NCI Adjusted Earnings (Losses) $ 234 $ 260 $ 1. GAAP Earnings (Losses) Impact associated with Aliso Canyon litigation, net of $6 income tax benefit SDG&E SoCalGas $ 216 $ 198 $ 16 Three months ended December 31, 2021 Sempra Sempra Sempra California Texas Utilities Infrastructure 414 $ 16 137 $ Parent & Other Total Sempra 263 $ (210) $ 604 16 Impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives, net of $4 income tax benefit and $(1) for NCI Net unrealized gains on commodity derivatives, net of $49 income tax expense and $44 for NCI Costs associated with early redemptions of debt, net of $51 income tax benefit and ($7) for NCI Net income tax expense related to the utilization of a deferred income tax asset Adjusted Earnings (Losses) 3 3 (129) (129) 30 92 122 $ 216 $ 214 $ 430 $ 137 $ 167 $ 72 (46) $ 72 688 SDG&E SoCalGas Year ended December 31, 2022 Sempra Sempra Sempra California Texas Utilities Infrastructure GAAP Earnings (Losses) Impact associated with Aliso Canyon litigation and regulatory matters, net of $60 income tax benefit Impact from foreign currency and inflation on our monetary positions in Mexico, net of $169 income tax expense and $(54) for NCI Net unrealized losses on commodity derivatives, net of $138 income tax benefit and $(176) for NCI $ 915 $ 599 $ 199 1,514 $ 199 736 $ 310 Parent & Other Total Sempra $ (466) $ 2,094 199 162 2 164 355 355 Net unrealized gains on a contingent interest rate swap related to the proposed PA LNG Phase 1 project, net of $6 income tax expense and $10 for NCI (17) (17) Deferred income tax expense associated with the change in our indefinite reinvestment assertion related to the sale of NCI to ADIA Adjusted Earnings (Losses) $ 915 $ 798 $ 1,713 $ 736 $ 810 $ 120 (344) $ 120 2,915 SDG&E SoCalGas Year ended December 31, 2021 Sempra Sempra Texas California Utilities Sempra Infrastructure Parent & Other Total Sempra $ 819 $ (427) $ 1,148 392 $ 1,148 616 $ 682 $ GAAP Earnings (Losses) (436) $ 1,254 Impact associated with Aliso Canyon litigation and regulatory matters, net of $445 income tax benefit Impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives, net of $4 income tax expense and ($4) for NCI 1,148 43 1 44 Net unrealized losses on commodity derivatives, net of $18 income tax benefit and $42 for NCI Costs associated with early redemptions of debt, net of $51 income tax benefit and ($7) for NCI Net income tax expense related to the utilization of a deferred income tax asset Earnings from investment in RBS Sempra Commodities LLP Adjusted Earnings (Losses) 47 47 30 $ 819 $ 721 $ 1,540 $ 616 $ 802 $ 8 ས ཤྲྰི 122 72 (50) (321) $ (50) 2,637 Except for adjustments that are solely income tax, income taxes were primarily calculated based on applicable statutory tax rates. We did not record an income tax expense for the equity earnings from our investment in RBS Sempra Commodities LLP because, even though a portion of the liabilities may be deductible under United Kingdom tax law, it is not probable that the deduction will reduce United Kingdom taxes. SEMPRA | 30#312017 Adjusted Earnings and Adjusted EPS (Unaudited) Sempra Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, NCI) in 2017 as follows: In the year ended December 31, 2017: $(25)M impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $(208)M write-off of wildfire regulatory asset at San Diego Gas & Electric Company (SDG&E) • $4M net unrealized gains on commodity derivatives • • $(20)M associated with Aliso Canyon litigation reserves at SoCalGas • • $(47)M impairment of Termoeléctrica de Mexicali (TdM) assets that were held for sale until June 2018 at Sempra Infrastructure $5M deferred income tax benefit on the TdM assets that were held for sale • $28M of recoveries related to 2016 permanent releases of pipeline capacity at Sempra Infrastructure • $(870)M income tax expense from the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) Sempra Adjusted Earnings and Adjusted EPS are non-GAAP financial measures (GAAP represents generally accepted accounting principles in the United States of America). These non-GAAP financial measures exclude significant items that are generally not related to our ongoing business activities and/or are infrequent in nature. These non-GAAP financial measures also exclude the impact from foreign currency and inflation effects on our monetary positions in Mexico and associated undesignated derivatives and unrealized gains and losses on commodity derivatives, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below reconciles for historical periods these non-GAAP financial measures to Sempra GAAP Earnings and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. SEMPRA 31#32Adjusted Earnings (Losses) by Business Units (Unaudited) (Dollars in millions) GAAP Earnings (Losses) Impact associated with Aliso Canyon litigation and regulatory matters, net of $60 income tax benefit Impact from foreign currency and inflation on our monetary positions in Mexico, net of $169 income tax expense and $(54) for NCI Net unrealized losses on commodity derivatives, net of $138 income tax benefit and $(176) for NCI Net unrealized gains on a contingent interest rate swap related to the proposed PA LNG Phase 1 project, net of $6 income tax expense and $10 for NCI Deferred income tax expense associated with the change in our indefinite reinvestment assertion related to the sale of NCI to ADIA Adjusted Earnings (Losses) Percentage of Sempra GAAP Earnings, excluding P&O Percentage of Sempra GAAP Earnings, excluding P&O - North America Percentage of Sempra GAAP Earnings, excluding P&O - South America Percentage of Sempra Adjusted Earnings, excluding P&O Percentage of Sempra Adjusted Earnings, excluding P&O - North America Percentage of Sempra Adjusted Earnings, excluding P&O - South America Sempra Year ended December 31, 2022 Sempra Infrastructure SDG&E SoCalGas Sempra California Texas Utilities $ 915 $ 599 $ 1,514 $ 736 199 199 $ Parent & Sempra excluding P&O Other (P&O) 310 $ 2,560 $ (466) $ Total Sempra 2,094 199 199 162 355 162 2 164 355 355 (17) (17) (17) 120 120 $ 915 $ 798 $ 1,713 $ 736 $ 810 $ 3.259 $ (344) $ 2,915 36 % 23 % 59 % 29 % 12 % 100 % 59 % 29 % 12 % 100 % % 28 % 24 % 52 % 23 % 52 % 23 % 25 % 100 % 25% 100% Year ended December 31, 2017 (Dollars in millions) GAAP Earnings (Losses) Impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives, net of $84 income tax expense and ($29) NCI Net unrealized gains on commodity derivatives, net of $3 income tax expense Write-off of wildfire regulatory asset, net of $143 income tax benefit Aliso Canyon litigation reserves Impairment of TdM assets held for sale, net of $24 NCI Deferred income tax benefit associated with TdM, net of $(3) NCI Recoveries related to 2016 permanent release of pipeline capacity, net of $19 income tax expense SDG&E SoCalGas Sempra California Sempra Mexico Sempra LNG Sempra Renewables Sempra Infrastructure Discontinued Operations $ 407 $ 396 $ 803 $ 169 $ 150 $ 252 $ 571 $ (58) $ 7 (4) 7 (4) (2) Sempra excluding P&O 1,316 P&O Total Sempra 256 $ (1,060) $ 5 20 25 (4) (4) 208 20 208 20 208 208 20 20 47 47 47 47 (5) (5) (5) (5) Impact from the TCJA 28 2 30 (28) (133) (28) (28) (28) (192) (325) 251 (44) 914 870 $ 643 $ 31 % 42 % Adjusted Earnings (Losses) Percentage of Sempra GAAP Earnings, excluding P&O Percentage of Sempra GAAP Earnings, excluding P&O - North America Percentage of Sempra GAAP Earnings, excluding P&O - South America Percentage of Sempra Adjusted Earnings, excluding P&O Percentage of Sempra Adjusted Earnings, excluding P&O - North America Percentage of Sempra Adjusted Earnings, excluding P&O South America 1. Except for adjustments that are solely income tax, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. Income taxes on the impairment of TdM were calculated based on the applicable statutory rate, including translation from historic to current exchange rates. 418 $ 1,061 $ 218 $ (15) $ 60 $ 263 $ 191 $ 1,515 $ (126) $ 1,389 30 % 61 % 13 % 11 % 19 % 43 % (4)% 100 % 61 % 43 % 104 % (4)% (4)% 28 % 70 % 70 % 14 % (1)% 4 % 17 % 13 % 100 % 17 % 87 % 13 % 13% SEMPRA | 32#332022 and 2017 ADJUSTED EARNINGS AND ADJUSTED EPS (UNAUDITED) Pretax amount Income tax (benefit) expense¹ Non- controlling interests (Dollars in millions, except per share amounts; shares in thousands) Year ended December 31, 2022 Earnings Pretax amount Income tax expense (benefit)1 Non- controlling interests Year ended December 31, 2017 Earnings Sempra GAAP Earnings Excluded items: $ 2,094 Impact associated with Aliso Canyon litigation and regulatory matters Impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $ 259 $ (60) $ 199 $ 49 169 (54) 164 Net unrealized losses (gains) on commodity derivatives 669 (138) (176) 355 (30) (7) 380 wo 84 3 29 $ 256 $ (29) 25 (4) 25 Net unrealized gains on a contingent interest rate swap related to the proposed PA LNG Phase 1 project (33) 6 10 (17) Deferred income tax expense associated with the change in our indefinite reinvestment assertion related to the sale of NCI to ADIA Write-off of wildfire regulatory asset Aliso Canyon litigation reserves Impairment of TdM assets held for sale Deferred income tax benefit associated with TdM Recoveries related to 2016 permanent release of pipeline capacity Impact from TCJA | | | | | 120 120 351 (143) I I 208 20 20 71 (24) (8) (47) 19 870 23 | 1 47 Sempra Adjusted Earnings Diluted EPS: $ 2.915 (5) (28) 870 $ 1,389 Weighted-average common shares outstanding, diluted Sempra GAAP EPS 316,378 $ 6.62 Sempra Adjusted EPS $ 9.21 Sempra GAAP Earnings CAGR (YTD 2017 to YTD 2022) Sempra Adjusted Earnings CAGR (YTD 2017 to YTD 2022) 52 % 16 % Sempra GAAP EPS CAGR (YTD 2017 to YTD 2022) Sempra Adjusted EPS CAGR (YTD 2017 to YTD 2022) $ ᏌᏊ Ꭿ $ 252,300 1.01 5.51 46 % 11 % 1. Except for adjustments that are solely income tax, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. Income taxes on the impairment of TdM were calculated based on the applicable statutory rate, including translation from historic to current exchange rates. SEMPRA | 33#34Appendix IV Glossary SEMPRA | 34#35Defined Terms AFUDC ADIA Bechtel Cameron LNG Members CARE CCM CFE COD CPUC CS DCRF DOE EA ENGIE EPC EPS ERCOT ESG ESJ ETR EV FEED FERA FERC FID allowance for funds used during construction Black Silverback ZC 2022 LP (assignee of Black River B 2017 Inc.), a wholly owned affiliate of Abu Dhabi Investment Authority Bechtel Energy Inc. (formerly known as Bechtel Oil, Gas and Chemicals, Inc.) Total, Mitsui, and a joint venture between Mitsubishi and Nippon Yusen Kabushiki Kaisha, Japan LNG Investment California Alternative Rates for Energy cost of capital adjustment mechanism Comisión Federal de Electricidad (Mexico's Federal Electricity Commission) commercial operations date California Public Utilities Commission carbon sequestration distribution cost recovery factor U.S. Department of Energy environmental assessment ENGIE S.A. engineering, procurement and construction earnings per common share Electric Reliability Council of Texas, Inc. environmental, social, governance Energía Sierra Juárez, S. de R.L. de C.V. effective tax rate electric vehicle front-end engineering design Family Electric Rate Assistance U.S. Federal Energy Regulatory Commission final investment decision SEMPRA | 35#36Defined Terms Continued FTA GAAP GRC HFTD HOA IEnova Free Trade Agreement generally accepted accounting principles in the United States of America general rate case high fire threat district heads of agreement Infraestructura Energética Nova, S.A.P.I. de C.V. Infraestructura Marina del Golfo INEOS Energy Trading Ltd. Low-Income Home Energy Assistance Program liquefied natural gas lost-time injury Mitsubishi Corporation IMG INEOS JV joint venture LIHEAP LNG LTI Mitsubishi Mitsui MOU Mtpa MW NCI Oncor O&M PKN ORLEN Mitsui & Co. memorandum of understanding million tonnes per annum megawatt noncontrolling interest Oncor Electric Delivery Company LLC operations and maintenance expense Polski Koncern Naftowy Orlen Spółka Akcyjna power purchase agreement Public Utility Commission of Texas PPA PUCT ROE ROR rate of return return on equity SEMPRA | 36#37Defined Terms Continued RWE SAIDI SB SDG&E SEC SI SI Partners SoCalGas SPA T+D TCOS Total V2G VPP Williams RWE Supply & Trading System Average Interruption Duration Index (non-storm) California Senate Bill San Diego Gas & Electric Company U.S. Securities and Exchange Commission Sempra Infrastructure Sempra Infrastructure Partners, LP Southern California Gas Company sale and purchase agreement transmission and distribution transmission cost of service TotalEnergies SE vehicle to grid virtual power plant The Williams Companies, Inc. SEMPRA | 37