Efficient Financing & Incremental Investment Opportunities
2017 TO 2020 ADJUSTED EARNINGS
2017
19% Adj. Earnings CAGR²
Adj. Earnings $1.39B2
CA Electric
Sempra
Infrastructure
3
South
America
CA Gas
2020
Adj. Earnings $2.34B2
TX Electric
Sempra
Infrastructure3
CA Electric
CA Gas
Improvements to strategy and thoughtful capital allocation improved earnings growth
and enhanced visibility, delivering strong financial results
Chart is illustrative, Sempra Infrastructure represents Sempra Mexico and Sempra LNG. CA Electric and CA Gas are calculated taking the total earnings from SDG&E and SoCalGas and prorating according to their rate base as of FY-
2020. Texas Electric represents Sempra Texas Utilities.
Adjusted Earnings and Adjusted Earnings CAGR are non-GAAP financial measures. GAAP Earnings for 2017 and 2020 were $256M and $3,764M, respectively. Represents Adjusted Earnings CAGR from 2017 - 2020. Growth rates
for each individual year will vary. GAAP Earnings CAGR from 2017-2020 was 145%. See Appendix for a reconciliation of these non-GAAP financial measures.
1.
2.
3.
and Sempra Mexico in 2020.
Sempra Infrastructure earnings represent Sempra LNG, Sempra Mexico and Sempra Renewables in 2017 and Sempra LNG 68
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