UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023. OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________. Commission file number 001-36108 ONE Gas, Inc. (Exact name of registrant as specified in its charter) Oklahoma 46-3561936 (State or other juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission file number 001-36108 ONE Gas, Inc. (Exact name of registrant as specified in its charter) Oklahoma 46-3561936 (State or other jurisdict ...

Financial Data and Key Metrics Changes - Net income for Q4 2022 was $67 million, or $1.23 per diluted share, compared to $60.5 million, or $1.12 per diluted share in Q4 2021, reflecting a year-over-year increase [19] - For the full year, net income was $221.7 million, or $4.08 per diluted share, versus $206.4 million, or $3.85 per diluted share in 2021, indicating a solid growth in profitability [20] - Operating income increased by approximately 13% or $39.7 million for the full year, driven by $58.7 million from new rates and $7 million from residential customer growth [20] Business Line Data and Key Metrics Changes - Operating costs for the year were $24.4 million higher than 2021, primarily due to increases in outside service costs and employee labor and benefits [9] - Capital expenditures for Q4 were $209.6 million, totaling $656.5 million for the year, compared to $544.3 million in 2021, with the increase attributed to system integrity projects and service extensions [9] Market Data and Key Metrics Changes - Average rate base for the year was $4.69 billion, with 42% in Oklahoma, 27% in Kansas, and 31% in Texas [29] - New customer connections in Texas grew roughly 3%, while Oklahoma saw a 17% increase, and Kansas jumped almost 22% compared to the prior year [24] Company Strategy and Development Direction - The company is focused on a disciplined phased approach to growth, managing current opportunities while positioning for long-term system expansion [40] - The recent approval of the West North Texas rate case is seen as a constructive outcome, recognizing the need for ongoing investments to enhance system integrity [26] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of the company in facing challenges such as inflation and supply chain impacts, maintaining a focus on safety, customer service, and organic growth [44] - The company remains optimistic about future growth opportunities, supported by economic development in its service territories and a favorable energy landscape [51] Other Important Information - The company ended the year with $448 million of capacity under its $1 billion commercial paper program and no borrowings under its credit facility [10] - A dividend of $0.65 per share was declared in January, marking a 5% increase from the previous quarter [30] Q&A Session Summary Question: Can you quantify the improvement for working capital and short-term debt balance anticipated for year-end 2023? - Management indicated that lower gas costs would positively impact cash flow and working capital needs, but emphasized that gas prices are just one factor among many [50][57] Question: Are there similar projects in the pipeline that could manifest over the next 12 to 18 months? - Management confirmed ongoing success in securing new projects, with continued building activity in service territories, indicating a positive outlook for future growth [51][54] Question: How should we think about the backlog and its fulfillment timeline given the change in customer growth rates? - Management clarified that the backlog is growing, with ongoing demand for new connections, and emphasized the importance of separating short-term from long-term projects [54][74]

Financial Data and Key Metrics Changes - The company narrowed its 2022 net income guidance to a range of $217 million to $226 million, with earnings per diluted share of $4 to $4.16 [14] - For Q3 2022, net income was $23.7 million or $0.44 per diluted share, compared to $20.3 million or $0.38 per diluted share in the same period last year, reflecting a 16.7% increase in earnings [15] - Operating income increased by $5.3 million or 13% over the same period last year, driven by new rates and residential customer growth [15] - Operating costs rose by $9.4 million compared to Q3 2021, with significant increases in outside services and employee-related costs [16] - Interest expense increased by $4.2 million compared to Q3 2021, influenced by higher natural gas prices and increased working capital needs [17] Business Line Data and Key Metrics Changes - The company added nearly 20,000 new customer connections in the nine months ending September 30, a 16% increase compared to the same timeframe in 2021 [29] - New rates reflecting a $19.6 million revenue increase went into effect in July, with interim rates subject to final approval [25] Market Data and Key Metrics Changes - Building permits have declined from historic highs but remained resilient, with increased activity in major metropolitan areas [30] - The I-35 corridor from Kansas City to San Antonio is recognized as the fastest population and job growth region in the US [30] Company Strategy and Development Direction - The company is focused on customer affordability and managing costs amid decade-high inflation and geopolitical conflicts affecting natural gas prices [10] - There is a commitment to clean energy goals and the development of renewable natural gas (RNG) projects [31] - The company plans to file a voluntary RNG tariff in Oklahoma and explore similar options in other jurisdictions [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges such as inflation and supply chain disruptions but expressed confidence in completing the 2022 capital program and executing in 2023 [34] - The company remains optimistic about growth in Texas and Oklahoma, citing continued economic development and population influx [48][49] Other Important Information - The company executed forward sales agreements for approximately 570,000 shares of common stock, generating potential net proceeds of about $94 million [19] - The Board of Directors declared a dividend of $0.62 per share, unchanged from the previous quarter [23] Q&A Session Summary Question: Capital expenditures for 2022 - The company confirmed it remains on track to complete the $650 million capital expenditure target for 2022, with several large projects in progress [39] Question: Interest in unregulated RNG - Management expressed interest in participating in RNG projects as a means to connect generators with customers seeking lower carbon fuel, while maintaining focus on organic growth opportunities [42][43] Question: Pressure on customer bills - The company emphasized its efforts to help customers moderate usage and manage costs while maintaining a reliable and safe system [45][46] Question: Pace of housing development - Management remains confident in growth in Texas and Oklahoma, noting record connections made and continued economic development despite some signs of slowing in the housing market [47][48]

Financial Data and Key Metrics Changes - Net income for Q2 2022 was $32.1 million or $0.59 per diluted share, compared to $30.1 million or $0.56 per diluted share in Q2 2021, reflecting a year-over-year increase [11] - Operating income increased by $7.5 million or 15% over the same period last year, driven by new rates and residential customer growth [11][12] - Operating costs rose by $7.1 million compared to Q2 2021, with outside services accounting for $5.8 million of the increase [13] Business Line Data and Key Metrics Changes - The increase in operating income was primarily due to $14.4 million from new rates, largely resulting from regulatory filings completed in the previous year [12] - Continued residential customer growth in Oklahoma and Texas contributed an additional $1.5 million to operating income [12] Market Data and Key Metrics Changes - The authorized rate base was approximately $4.28 billion as of June 30, with an estimated average rate base of approximately $4.8 billion for 2022 [16] - The company added over 12,000 new customer connections in the first half of 2022, surpassing the approximately 11,000 added in the same period last year [33] Company Strategy and Development Direction - The company is focused on three targets: a strong safety culture, excellent customer service, and building capacity to respond to organic growth [6] - A stronger emphasis on ESG opportunities has been added to the company's commitments, with renewable natural gas (RNG) being integral to its emissions reduction strategy [8][34] - The company is actively managing costs and focusing on customer affordability amid rising inflation and gas prices [9][10] Management's Comments on Operating Environment and Future Outlook - Management expects economic conditions to remain challenging for the remainder of the year but is confident in the guidance range due to solid performance in the first half [24] - The company is committed to managing costs and executing its capital plan while addressing external factors like interest rates and inflation [24] Other Important Information - The Board of Directors declared a dividend of $0.62 per share, unchanged from the previous quarter [20] - The company is utilizing its at-the-market equity program to address future liquidity needs, having executed forward sale agreements for approximately 592,000 shares [18][19] Q&A Session Summary Question: Can you provide more color on the 2022 EPS guidance considering the nonqualified benefit plan and pension impacts? - Management clarified that the mark-to-market adjustments for nonqualified plans are not included in guidance, and the pension plan remeasurement will have a fixed impact of about $7 million for the remainder of the year [48][49] Question: What are the implications of El Paso's denial for the group rate increase? - Management indicated that the rates were allowed to take effect as the Commission deemed the filing proper, and the appeal process is ongoing [58] Question: Have inflation expectations changed, and how is O&M tracking? - Management stated that they have not gained more visibility on inflation but are focused on recognizing savings without compromising customer service [60][61] Question: How will one-time items be treated in the guidance? - Management noted that the impacts of mark-to-market and remeasurement for 2022 largely negate each other, and they do not plan to provide a non-GAAP earnings number [72]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022. OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________. Commission file number 001-36108 ONE Gas, Inc. (Exact name of registrant as specified in its charter) Oklahoma 46-3561936 (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022. OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________. Commission file number 001-36108 ONE Gas, Inc. (Exact name of registrant as specified in its charter) Oklahoma 46-3561936 (State or other juri ...

Financial Data and Key Metrics Changes - ONE Gas reported significant changes in financial performance, with a focus on adapting to the dynamic business environment [6]. Business Line Data and Key Metrics Changes - Specific details regarding the performance of various business lines were not provided in the available content [6]. Market Data and Key Metrics Changes - The company is addressing emerging market conditions but did not disclose specific market data or metrics in the provided content [6]. Company Strategy and Development Direction and Industry Competition - ONE Gas is concentrating on positioning itself to tackle the evolving business landscape while executing its strategic initiatives [6]. Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of addressing current issues in the dynamic environment, indicating a proactive approach to future challenges [6]. Other Important Information - The call included a reminder about forward-looking statements and the associated risks, emphasizing the need for caution in interpreting projections [3]. Q&A Session Summary Question: What are the key challenges facing ONE Gas in the current environment? - Management acknowledged various issues requiring attention but did not provide specific details during the call [6].

Resilient and Reliable Energy For a Better Tomorrow INVESTOR UPDATE March 2022 a (24/7) Forward-Looking Statements Statements contained in this presentation that include or refer to Company expectations, our business outlook, our future plans or predictions relating to any matters should be considered forward-looking statements that are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933 and the Securities and Exchange Act of 1934, each a ...

Financial Data and Key Metrics Changes - Net income for Q4 2021 was $60.5 million or $1.12 per diluted share, compared to $58.3 million or $1.09 per diluted share in Q4 2020, reflecting an increase in revenues of $10 million year-over-year [6][8] - For the full year 2021, net income was $206.4 million or $3.85 per diluted share versus $196.4 million or $3.68 per diluted share in 2020 [8] - Operating costs for Q4 2021 were $7.1 million higher than the same period last year, driven by a $13.3 million increase in employee labor and benefits [7][8] - Capital expenditures for Q4 were $161 million, totaling $544 million for the year, an increase from $512 million in 2020 [9][10] Business Line Data and Key Metrics Changes - Revenues less the cost of natural gas for the full year were $40.7 million, including $32 million from new rates and $8.5 million from residential customer growth [8] - The company connected approximately 25,000 new customers during 2021, with an expected average annual customer growth of 1.2% across its service territory over the next five years [18] Market Data and Key Metrics Changes - The average rate base for the year was $4.25 billion, with 41% in Oklahoma, 29% in Kansas, and 30% in Texas [10] - The company anticipates a higher rate base growth of 8% to 9%, up from 7% to 8% previously [11] Company Strategy and Development Direction - The company plans to increase capital investments to $650 million in 2022, a 20% increase over 2021, focusing on system integrity and expansion to new customers [11][12] - Total capital spending for the next five years is anticipated to be $3.5 billion, which is $500 million higher than the previous plan [11] - The company aims for a 55% reduction in emissions from distribution pipeline leaks by 2035, as part of its climate-related goals [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage O&M expenses despite inflationary pressures, highlighting proactive supply chain management [28][29] - The company is well-positioned to execute its growth and maintenance plans, with a focus on core values and service delivery [41] Other Important Information - Moody's revised its outlook for the company from negative to stable, affirming its credit ratings [10] - The company expects average annual dividend growth between 6% to 8% through 2026, with a target payout ratio of 55% to 65% [12] Q&A Session Summary Question: Drivers of increased CapEx and CAGR - Management indicated that multiple factors contribute to increased capital spending, including system integrity work, economic development in Texas and Oklahoma, and government-required relocations [24][26] Question: Inflationary impacts on the business - Management acknowledged higher labor and outside service costs but emphasized their preparedness to manage O&M expenses and minimize customer bill impacts [27][29] Question: Renewable Natural Gas (RNG) opportunities - Management expressed excitement about RNG opportunities due to the proximity of feedstock and ongoing projects, highlighting the environmental benefits of capturing fugitive emissions [31][33] Question: Trends in Return on Equity (ROE) - Management noted stable ROE trends in recent years, with expectations for stability despite inflationary pressures and interest rate increases [35][36] Question: M&A outlook - Management remains focused on internal growth opportunities and is not currently pursuing M&A, despite recognizing market dislocations [40][41]