Investor Presentation December 2021

Alabama and Mississippi regulatory update • Alabama utilities' annual rate-setting under RSE - - - Spire Alabama rates based on allowed ROE range of 10.15% - 10.65% (10.4% midpoint) Spire Gulf rates based on 9.95% ROE New rates effective December 2021 Spire Mississippi annual rate-setting pending MPSC review of Aug. 2021 RSA filing - Based on 9.83% ROE, 50% equity - New rates effective Jan./Feb. 2022 Photo: Alabama Public Service Commission President Twinkle Cavanaugh, state Senator Randy Price, Spire representatives and local landowners break ground on a new natural gas pipeline near Ranburne, Ala. 8 Spire | Investor presentation December 2021 -

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