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Investor Presentaiton

FY23 NEE reconciliation to GAAP Gas Utility Gas Marketing Midstream Other Total Per diluted common share² (Millions, except per share amounts) Twelve months ended September 30, 2023 Net Income (Loss) [GAAP] $ 200.5 $ 39.1 $ 12.0 $ (34.1) $ 217.5 $ 3.85 Adjustments, pre-tax: Fair value and timing adjustments (0.0) 11.4 11.4 0.21 Acquisition activities 2.5 2.5 0.05 1 Income tax effect of adjustments (2.9) (0.4) (3.3) (0.06) Net Economic Earnings (Loss) [Non-GAAP] $ 200.5 $ 47.6 $ 14.1 $ (34.1) $ 228.1 $ 4.05 Twelve months ended September 30, 2022 Net Income (Loss) [GAAP] $ 198.6 $ 35.6 11.1 $ (24.5) $ 220.8 $ 3.95 Adjustments, pre-tax: Fair value and timing adjustments Income tax effect of adjustments¹ 4.1 (11.4) 2.8 (11.4) (0.22) 6.9 0.13 Net Economic Earnings (Loss) [Non-GAAP] $ 202.7 $ 27.0 $ 11.1 $ (24.5) $ 216.3 $ 3.86 ¹Income taxes are calculated by applying federal, state, and local income tax rates applicable to ordinary income to the amounts of the pre-tax reconciling items and then adding any estimated effects of enacted state or local income tax laws for periods before the related effective date and, in the case of fiscal 2022, includes the $4.1M Spire Missouri regulatory adjustment. 2Net economic earnings per share is calculated by replacing consolidated net income with consolidated net economic earnings in the GAAP diluted EPS calculation. 23 Spire | Investor presentation December 2023
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