Diverse Resource Portfolio & Low-Carbon Pathway

12 HIGHLY REGULATED Pure-Play Utility Business Model 2020 Net Income Interstate Storage, Water & Other 10% Favorable Customer Mix 2020 Natural Gas Utility Margin Other¹ 5% Industrial 7% Commercial 24% Natural Gas Utility 90% Residential 64% 1 Other is primarily margin from North Mist regulated gas storage services NW Natural HOLDINGS™

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