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Efficient Financing & Incremental Investment Opportunities

SEMPRA INFRASTRUCTURE VALUE SUMMARY Sempra Infrastructure Equity Value (100% Basis | Illustrative) OBJECTIVES + VALUE PROPOSITION Simplify our business model $16.85B $1.8B $10.8B $9.0B Pre-SI Value (excl. Tender) 1 Tender Value Pre-SI Value (incl. Tender)1 SI Transaction Value 1. Based on the average of 10 sell-side Wall Street analyst value estimates as of October 2020. 76 Highlight value of infrastructure platform Support cross-border renewables Expand LNG growth and zero-carbon solutions Improve scale Strengthen balance sheet Grow EPS over the long term SEMPRA

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