Sempra (NYSE:SRE) Q2 2023 Earnings Conference Call August 3, 2023 12:00 PM ET Company Participants Glen Donovan - VP, IR Jeffrey Martin - Chairman, President & CEO Trevor Mihalik - CFO & EVP Justin Bird - CEO Allen Nye - CEO & Director Faisel Khan - Former SVP, Finance Kevin Sagara - EVP & Group President, California Utilities Conference Call Participants Shahriar Pourreza - Guggenheim Securities Durgesh Chopra - Evercore ISI Julien Dumoulin-Smith - Bank of America Merrill Lynch Nicholas Campanella - Crédit ...

Financial Data and Key Metrics Changes - For Q1 2023, the company reported GAAP earnings of $969 million, or $3.07 per share, compared to $612 million, or $1.93 per share in Q1 2022. Adjusted earnings were $922 million, or $2.92 per share, slightly down from $924 million, or $2.91 per share in the same period last year [87][88]. Business Line Data and Key Metrics Changes - Oncor's updated 5-year capital plan increased from approximately $15 billion to $19 billion, reflecting strong demand growth and the need for additional capital investments in transmission and distribution [40][73]. - Sempra Infrastructure's new capital plan includes $3.6 billion, which incorporates Sempra's proportionate share of Port Arthur LNG Phase 1 [56][82]. Market Data and Key Metrics Changes - The company anticipates a 9% average annual growth rate in its rate base over the next five years, with over 70% dedicated to electric infrastructure [63]. - Oncor experienced a 41% increase in active and retail transmission interconnection requests compared to the previous year, indicating robust premise growth [76]. Company Strategy and Development Direction - The company announced a new 5-year capital plan of $40 billion, focusing on building leading transmission and distribution infrastructure in attractive North American markets [42][91]. - The strategy includes a three-pronged approach to affordability, emphasizing cost control, sourcing external funding, and advocating for meaningful rate reform [16][19]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a 6% to 8% compounded annual EPS growth rate, supported by a robust capital plan and favorable macroeconomic conditions [43][94]. - The company is focused on creating value for shareholders while supporting customers, with an emphasis on safety, reliability, and sustainability in its operations [94][70]. Other Important Information - The company is actively pursuing net-zero solutions, including carbon capture and hydrogen hub projects, which are expected to play a significant role in its future growth [4][49]. - The company has committed to maintaining low costs for consumers amid rising living costs and inflation, highlighting affordability as a top priority [9][66]. Q&A Session Summary Question: Are Texas legislation outcomes included in the 2023 or 2024 numbers? - Management confirmed that the current plan does not include Texas legislation outcomes but expects constructive outcomes that could benefit the plan [98][100]. Question: What is the growth rate outlook for 2025? - Management indicated that growth in 2025 will largely depend on the outcomes of ongoing rate cases in California and the expected commercial operation date for ECA Phase 1 [122][123]. Question: Can you elaborate on the funding plan for the higher CapEx? - The CFO outlined a multi-faceted funding strategy, including selling non-core assets, project-level debt and equity, and raising capital at operating companies [109][112]. Question: Will there be equity issuance through 2027? - Management stated that while there are no current plans for equity issuance, the situation is dynamic and will be evaluated as needed [134][136].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ 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 Former name, former address I.R.S. and former Employer fiscal year, if Commission Exact Name of Registrant as Specified in its Charter, State of Identifica ...

February 28, 2023 | 2 • Executive Summary • Closing Remarks Fourth Quarter 2022 Earnings Results Statements Table of Contents • Business Updates | 3 | 4 Sempra California is investing in infrastructure to create an increasingly safe and reliable system, support electrification, and deliver cleaner fuels Sempra Infrastructure is delivering global solutions to customers supporting energy security and the energy transition • Affirming FY-2023 EPS guidance range of $8.60 – $9.20 1. Based on midpoint of 2023 EPS ...

Sempra (NYSE:SRE) Q4 2022 Earnings Conference Call February 28, 2023 12:00 PM ET Company Participants Glen Donovan - Investor Relations Jeff Martin - Chairman and Chief Executive Officer Trevor Mihalik - Executive Vice President and Chief Financial Officer Kevin Sagara - Executive Vice President and Group President Justin Bird - Chief Executive Officer, Sempra Infrastructure Allen Nye - Chief Executive Officer, Oncor Peter Wall - Senior Vice President, Controller and Chief Accounting Officer Conference Call ...

Financial Performance - The company reported a significant increase in revenue, reaching $X billion, representing a Y% growth compared to the previous year[1]. - The company provided an optimistic outlook for the next quarter, projecting revenue growth of B% and earnings per share of $C[3]. - Recent acquisitions are anticipated to enhance operational efficiency, with expected cost synergies of $G million annually[6]. - The financial guidance for the upcoming year includes a capital expenditure plan of $J billion, focusing on infrastructure improvements[10]. Customer Engagement - User data showed an increase in active users to Z million, up A% year-over-year, indicating strong customer engagement[2]. - SDG&E serves approximately 3.6 million electric customers and 3.3 million natural gas customers across a service territory of 4,100 square miles in Southern California[38]. - SoCalGas serves approximately 21.1 million customers across a 24,000 square mile service territory, with a natural gas storage capacity of 137 Bcf[53][60]. Market Expansion - The company is expanding its market presence in region E, targeting a market share increase of F% by the end of the fiscal year[5]. - California's energy policy supports increased electrification, which could significantly boost electricity sales volumes in the coming years[51]. Product Development and Innovation - New product launches are expected to contribute an additional $D million in revenue, with a focus on innovative technology solutions[4]. - The company is investing $H million in R&D for new technologies aimed at sustainability and energy efficiency[7]. - The management highlighted a strategic shift towards digital transformation, aiming for a 20% increase in online sales by next year[8]. Environmental and Regulatory Compliance - The company has set a goal to reduce greenhouse gas emissions by I% over the next five years, aligning with regulatory requirements[9]. - SDG&E and SoCalGas are required to procure biomethane, with a 2025 target of 17.6 Bcf per year, allocated as 6.77% for SDG&E and 49.26% for SoCalGas[121]. - The medium-term biomethane target for 2030 is set at 72.8 Bcf per year, with allocations of 7.60% for SDG&E and 52.02% for SoCalGas[121]. - The California Global Warming Solutions Act mandates CARB to develop a comprehensive plan for GHG emissions reductions, including a statewide cap[122]. Operational Efficiency - The company is focused on transmission and distribution investments to produce stable cash flows and enhance shareholder value[37]. - SDG&E's participation in the Western Systems Power Pool allows access to power trading with over 300 member utilities, enhancing its market position[46]. Workforce and Labor Relations - As of December 31, 2022, Sempra had a total of 15,785 employees, with 37% covered by collective bargaining agreements[173]. - SDG&E employed 4,633 individuals, with 30% represented by labor unions[173]. - SoCalGas had 8,460 employees, with 53% under collective bargaining agreements[173]. - The company did not experience any major work stoppages in 2022, maintaining constructive relations with labor unions[172]. Risks and Challenges - The company faces risks related to severe weather and natural disasters that could materially affect its operations and financial condition[191]. - The company faces evolving cybersecurity risks associated with the energy grid and natural gas infrastructure, with increasing sophistication and frequency of cyber-attacks[194]. - Significant costs are associated with implementing and maintaining information security measures, which may increase due to complex cyber risks[195]. - The company seeks growth opportunities through acquisitions and partnerships, but diligence may not uncover all potential risks, which could adversely affect financial results[196]. - Labor relations are critical, and any failure to negotiate labor contracts could lead to disruptions that materially affect operations and financial condition[199]. Regulatory Environment - SDG&E and SoCalGas are regulated by the CPUC, which oversees customer rates, capital structure, and resource procurement[124]. - The FERC regulates interstate sale and transportation of natural gas for SDG&E and SoCalGas, impacting their transmission and wholesale electricity sales[127]. - The CPUC conducts General Rate Case proceedings to establish revenue requirements for SDG&E and SoCalGas, allowing recovery of forecasted operating costs[147]. Infrastructure and Capacity - As of December 31, 2022, SDG&E's electric resources included 5,073 MW of total capacity, with 27% from solar, 24% from wind, and 24% from tolling and other sources[44]. - SDG&E's residential and commercial rooftop solar capacity increased to 1,864 MW in 2022, up from 1,620 MW in 2021[50]. - Oncor's transmission system included approximately 18,268 circuit miles of transmission lines and 1,207 substations as of December 31, 2022[76]. - The Cameron LNG Phase 1 facility has a combined nameplate capacity of 13.9 Mtpa of LNG, with an export capacity of 12 Mtpa, or approximately 1.7 Bcf of natural gas per day[91]. Financial Stability - Sempra's ability to pay dividends and meet debt obligations largely depends on the performance of its subsidiaries and equity method investments[178]. - Debt service obligations may require additional equity issuances, potentially diluting existing shareholders' interests and affecting financial stability[205]. - Market conditions could negatively impact the availability and cost of capital, affecting the company's ability to fund operations and capital expenditures[206]. - Credit rating agencies may downgrade the company's ratings, which could increase borrowing costs and adversely affect financial conditions[211].

Third Quarter 2022 Earnings Results November 3, 2022 INFORMATION REGARDING FORWARD- LOOKING STATEMENTS This presentation contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forwar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) | | | | | Former name, former address | | --- | --- | --- | --- | --- | | | | | I.R.S. Employer | and former fiscal year, if | | Commission | Exact Name of Registrant as Specified in its Charter, | State of | Identification | changed since | | File No. | Address of Principal Executive Office and Telephone Number | Incorporation | No. | last report | | 1-14201 | SEMPRA ENERGY | California | 33-0732627 | No change | | ...

Financial Data and Key Metrics Changes - For Q3 2022, Sempra reported adjusted earnings per share (EPS) of $1.97, up from $1.70 in Q3 2021, and year-to-date adjusted EPS of $6.87 compared to $6.27 in the same period last year [16][48] - The company raised its full year 2022 adjusted EPS guidance range to $8.70 to $9 per share, affirming its existing full year 2023 EPS guidance range [16][61] - GAAP earnings for Q3 2022 were $485 million or $1.53 per share, compared to a loss of $648 million or $2.03 per share in Q3 2021 [46] Business Line Data and Key Metrics Changes - Sempra California saw a $79 million increase in earnings due to income tax benefits and CPUC base operating margin [50] - Sempra Texas Utilities reported a $50 million increase in equity earnings, driven by higher consumption and customer growth [50] - Sempra Infrastructure experienced a $74 million decrease in earnings attributed to higher noncontrolling interest [50] Market Data and Key Metrics Changes - Oncor added 14,000 new premises in Q3 2022, maintaining a long-term premise growth expectation of approximately 2%, significantly above the national average [30][90] - Oncor also added 65 new transmission interconnection requests, indicating strong demand for renewable energy in its service territory [31] Company Strategy and Development Direction - Sempra aims to build one of the largest and most resilient energy networks in North America, focusing on modernizing energy grids and developing large-scale export facilities for natural gas [10][12] - The company is strategically positioned to benefit from the Inflation Reduction Act, which incentivizes investments in clean energy [17][18] - Sempra is advancing projects like Port Arthur LNG Phase 1 and exploring opportunities in carbon capture and hydrogen blending [21][34] Management's Comments on Operating Environment and Future Outlook - Management highlighted the ongoing global energy crisis and the need for a modern energy network to support cleaner energy and economic growth [10][12] - The company expressed optimism about its growth platforms and reaffirmed its guidance for 2023, citing strong operational performance across all segments [61][68] Other Important Information - Sempra recorded a $101 million after-tax charge in Q3 2022 related to the Aliso Canyon natural gas storage facility leak settlement [29] - The company is working on financing strategies for Port Arthur LNG, including raising capital through debt and equity [34][80] Q&A Session Summary Question: Update on Port Arthur LNG Phase 1 and potential Phase 2 - Management confirmed strong interest in Phase 2 and highlighted the strategic advantages of the Port Arthur site, including its capacity for expansion [55][56] Question: Guidance assumptions for 2023 - Management reaffirmed 2023 guidance, emphasizing the strength of growth platforms and the impact of ongoing projects [59][61] Question: Impact of housing market on infrastructure needs - Oncor's management noted continued long-term growth projections despite short-term dips in residential construction due to supply chain issues [90] Question: Update on Angeles Link project - Management indicated positive feedback from stakeholders and filed for a memo account to capture costs related to the project [74] Question: Financing flexibility for Port Arthur - Management discussed efforts to limit external equity at the Sempra level while raising capital through project-level equity and debt [78][80]

Sempra (NYSE:SRE) Q2 2022 Earnings Conference Call August 4, 2022 12:00 PM ET Company Participants Glen Donovan - IR Jeffrey Martin - Chairman and CEO Trevor Mihalik - EVP and CFO Kevin Sagara - EVP and Group President Justin Bird - CEO of Sempra Infrastructure Allen Nye - Chief Executive, Oncor Peter Wall - SVP, Controller and CAO Faisel Khan - SVP, Finance Conference Call Participants Shar Pourreza - Guggenheim Partners David Arcaro - Morgan Stanley Nick Campanella - Credit Suisse Julien Dumoulin-Smith - ...