Investor Presentation - September 2021

Alabama and Mississippi regulatory update • Alabama utilities' annual rate-setting completed under RSE - Spire Alabama rates based on 10.5% ROE (incl. 10 bp adder for AIM) Spire Gulf rates based on 10.7% ROE New rates effective Dec. 1, 2020 Spire Mississippi annual rate-setting completed - Based on 10.03% ROE, 50% equity New rates effective Jan. 12, 2021 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. 29 Spire | Investor presentation - September 2021

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