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Investor Presentaiton

The case for natural gas • America's natural gas utilities have a proven track record of providing safe, reliable and affordable energy America's natural gas is essential for achieving a net-zero carbon emissions energy future • Our industry is committed to reduce greenhouse gas emissions through smart innovation, new and modernized infrastructure, and advanced technologies 100+ years The U.S. has 3,368 Tcf of future natural gas supply, more than 100 years worth¹ $1,068 U.S. households using natural gas for heating, cooking and clothes drying, rather than electricity, save an average of $1,068 per year¹ The U.S. natural gas transmission and distribution system (2.6M miles of underground pipeline) is the safest and most reliable way to deliver energy¹ Forced electrification could cause the average U.S. household's energy-related costs to increase by $700-$900 per year² 92% efficient Direct use of natural gas is a more efficient energy: 92% vs 38% for generation from converting natural gas or other fossil fuels to electricity¹ ≪ The cost of electrification to the U.S. economy through 2035 is $590B-$1.2T² Sources: 12023 AGA Playbook. 2AGA-Implications of Policy-Driven Residential Electrification. 3AGA - Net Zero Emissions Opportunities for Gas Utilities. 18 Spire | Investor presentation 4% Residential natural gas usage accounts for less than 5% of total U.S. GHG emissions³ December 2023 54% Switching from coal to natural gas for electric generation reduces GHG emissions by 54% on average¹ CO₂ CO2 emissions from homes using natural gas for heating, hot water, cooking and clothes drying are 22% lower than for an all electric home¹
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