Fixed-Income Investor Presentation

20 ROLE OF OUR SYSTEM TODAY NW Natural's System • Delivers 50% more energy than any other utility in Oregon • Heats roughly 75% of residential square footage in the areas we serve Provides 90% of energy needs for our residential space and water heat customers on the coldest winter days One of the tightest, newest systems in the country Our residential and commercial customers' emissions account for just 6% of Oregon's total carbon emissions Oregon Greenhouse Gas Emissions by Sector 36% 29% 22% OTHER 13% NATURAL TRANSPORTATION ELECTRICITY (other fuels & waste) GAS NW Natural Residential and Commercial Customer Use >> 6% NW NaturalⓇ Source: Oregon DEQ In-Boundary GHG Inventory 2019 data

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