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].

Business Strategy & Growth - The company has a sustainable business model with a clear vision and a 100% regulated natural gas distribution utility[9] - The company is focused on organic growth, projecting an average annual customer growth of 1.2% through 2026[10] - The company's capital investments are expected to be approximately $3.5 billion from 2022 through 2026, a 19% increase over the previous five-year plan[60] Financial Performance & Objectives - The company anticipates a net income range of $215 million to $227 million in 2022[62] - The company projects earnings per diluted share (EPS) range of $3.96 to $4.20 in 2022[62] - The company estimates an average rate base of $4.64 billion in 2022, including $650 million in capital investments[62] - The company targets a dividend increase of 6-8%, subject to board approval[60] Regulatory & Capital Investments - Approximately 92% of the company's 2022 estimated capital expenditures are subject to annual filings for recovery[11, 42] - The company is undertaking a vintage pipeline replacement program, replacing an average of 231 miles of vintage pipe per year since 2014[10, 27] ESG Initiatives - The company is committed to ESG stewardship and sustainability, including improved disclosures and data quality[12] - The company expects a 55% reduction in CO2e emissions by 2035 through replacement and protection of distribution mains and service lines (2005 baseline)[76]

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]

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, 2021. 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 ...

FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021. 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 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (State or other ...

Financial Data and Key Metrics Changes - The updated financial guidance for 2021 projects net income in the range of $204 million to $209 million and earnings per diluted share between $3.80 and $3.90 [8] - Actual net income for Q3 2021 was $20.3 million or $0.38 per diluted share, compared to $21.1 million or $0.39 per diluted share in Q3 2020 [9] - Operating costs increased by $6.1 million year-over-year, primarily due to higher outside services, employee-related costs, and bad debt expense [10] Business Line Data and Key Metrics Changes - The net margin increased by $10.4 million year-over-year, mainly due to $7 million from new rates and $2.1 million from net residential customer growth [9] - Capital expenditures and asset removal costs were $20.6 million higher quarter-over-quarter, with a total capital plan of $540 million for the year [8][11] Market Data and Key Metrics Changes - The authorized rate base is approximately $4 billion as of September 30, with projections for the average rate base in 2021 to be around $4.34 billion, distributed as 41% in Oklahoma, 29% in Kansas, and 30% in Texas [12] Company Strategy and Development Direction - The company is focused on enhancing winter preparedness capabilities, including increased storage capacity and transportation capacity to improve system reliability [29] - The company is actively pursuing renewable natural gas (RNG) projects, with four biogas development agreements executed, expected to produce up to 700,000 MMBTU of RNG per year [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the role of natural gas in a cleaner energy future, supported by organic growth and a resilient system [37] - The company has achieved a 93% customer satisfaction score and is committed to improving employee safety and diversity [38][39] Other Important Information - The company declared a dividend of $0.58 per share, unchanged from the previous quarter [15] - The securitization process is progressing across all three states, with hearings scheduled to approve financing orders [17][20] Q&A Session Summary Question: Inquiry on ESG report and carbon reduction targets - Management acknowledged the importance of ESG and indicated that they align with industry peers on emissions reduction goals, emphasizing the need for clear pathways to achieve these targets [46][48] Question: Clarification on securitization revenue and CapEx management - Management explained that securitization will be off-balance sheet in most areas, with specific recovery periods outlined for customer impacts, while maintaining a focus on system integrity and growth [59][62]

Financial Data and Key Metrics Changes - Net income for Q2 2021 was $30.1 million or $0.56 per diluted share, compared to $25.3 million or $0.48 per diluted share in Q2 2020, reflecting an increase in net margin of $11.1 million driven by new rates and customer growth in Texas and Oklahoma [9][10] - Operating costs increased by $1.2 million year-over-year, primarily due to higher outside services and employee-related costs, but were offset by lower bad debt expense and decreased COVID-19 related expenses [9][10] - The company reaffirmed its 2021 financial guidance, projecting net income between $198 million to $210 million and earnings per diluted share of $3.68 to $3.92 [11] Business Line Data and Key Metrics Changes - The authorized rate base as of June 30 was approximately $4 billion, with projections for the estimated average rate base in 2021 to be around $4.23 billion, distributed as 42% in Oklahoma, 29% in Kansas, and 29% in Texas [10][11] - The company resumed collections activity, leading to a 44% decline in past due balances since March 31, indicating effective management of customer accounts [18] Market Data and Key Metrics Changes - The company reported robust customer growth and opportunities for investment, particularly in markets like Austin, El Paso, Oklahoma City, and Tulsa, which are experiencing high demand for housing and natural gas services [18] Company Strategy and Development Direction - ONE Gas emphasized its commitment to safety, stable cash flow, and a focused business strategy as central to its sustainable business model [7] - The company is actively pursuing renewable natural gas (RNG) initiatives and has requested capital investments for renewable projects as part of its gas supply portfolio [16][19] - Legislative achievements include the passage of energy choice legislation and safety bills aimed at improving service reliability and safety for customers [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing impacts of COVID-19 but noted that year-over-year impacts are moderating, with a focus on executing their strategy despite challenges [9][10] - The leadership transition was described as seamless, with a focus on system modernization, growth, and innovation as key priorities moving forward [22][23] Other Important Information - The company has deferred nearly $2 billion in costs related to Winter Storm Uri, which are included in regulatory assets on the balance sheet [11][12] - The company increased the capacity of its commercial paper program to $1 billion and ended the quarter with $209 million in cash and cash equivalents [11] Q&A Session Summary Question: What happened in the city of El Paso regarding rate increases? - Management explained that the denial of the rate increase was unusual but clarified that the appeal process worked effectively, and new rates were approved [25] Question: What are the results of the RNG survey with Vanguard? - Management indicated that preliminary results are encouraging, and they are exploring opportunities for RNG projects while seeking to inject RNG into their system [26][27] Question: How does the company view the long-term potential of RNG? - Management acknowledged skepticism about the magnitude of RNG but emphasized its environmental benefits and the importance of being prepared for future developments in the sector [30][31] Question: What is the current dialogue with rating agencies? - Management noted that the rating agencies are on a negative outlook but are patient as they monitor the securitization process [43] Question: What feedback has been received regarding the Oklahoma rate case? - Management stated that responsive testimony is due in early September, which will provide insights into the positions of the commission staff and other intervenors [44]

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, 2021. 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 ...