Investor Presentation December 2021

Guidance We remain confident in our long-term growth prospects - 5-year capex plan of $3.1B, driving 7-8% rate base growth Long-term 5-7% NEEPS growth target FY22 will be a reset year FY22 targeted NEEPS of $3.70-$4.00, reflecting - Pro forma capital structure and ROE from the MO rate order (-30¢/share) Limited deferral or recovery of non- capitalized overheads (-20¢ to -35¢) - Organic and rate base growth Range will be updated with additional clarity from the MOPSC 12 Spire | Investor presentation December 2021 - $4.18 (0.30) $4.00 (0.20) - (0.35) $3.70 2021 run rate ROE / cap structure Overheads Organic growth 2022 guidance

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