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Sempra Energy Reports First-Quarter 2020 Earnings Results

SAN DIEGO, May 4, 2020 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today reported first-quarter 2020 earnings of $760 million, or $2.53 per diluted share, compared to first-quarter 2019 earnings of $441 million, or $1.59 per diluted share. On an adjusted basis, the company's first-quarter 2020 earnings were $932 million, or $3.08 per diluted share, compared to $534 million, or $1.92 per diluted share, in the first quarter of 2019. "In the midst of a global pandemic, we are reminded that our employees face health risks in their daily lives and unique challenges in performing their jobs. That is why our first priority has been, and continues to be, the safety of our employees, customers and communities," said Jeffrey W. Martin, chairman and CEO of Sempra Energy. "We remain focused on advancing our strategic priorities and committed to delivering safe and reliable energy to over 35 million consumers, including the many hospitals and primary care facilities across our communities." "Our strong financial results this quarter reflect the focused execution of our strategic plan," added Martin. "We plan to continue to strengthen our balance sheet and maintain solid liquidity across our companies, while pursuing our disciplined growth plan." The reported financial results reflect certain significant items, as described on an after-tax basis in the following table of GAAP earnings reconciled to adjusted earnings for the first quarter of 2020 and 2019. Three months ended March 31, (Dollars, except EPS, and shares, in millions) 2020 2019 (Unaudited) GAAP Earnings $ 760 $ 441 Impacts Associated with Aliso Canyon Litigation 72 - Losses from Investment in RBS Sempra Commodities LLP 100 - Tax Impacts from Expected Sale of South American Businesses - 93 Adjusted Earnings (1) $ 932 $ 534 GAAP Diluted Weighted-Average Common Shares Outstanding 314 277 GAAP Earnings Per Diluted Common Share (2) $ 2.53 $ 1.59 Adjusted Diluted Weighted-Average Common Shares Outstanding (1),(3) 314 291 Adjusted Earnings Per Diluted Common Share (1),(2),(3) $ 3.08 $ 1.92 1) Represents a non-GAAP financial measure. See Table A for information regarding non-GAAP financial measures. 2) To calculate Q1-2020 GAAP earnings per common share (EPS) and Adjusted EPS, preferred stock dividends of $36 million are added back to GAAP Earnings and Adjusted Earnings because of the dilutive effect of the company's Series A and Series B mandatory convertible preferred stock in the quarter. 3) To calculate Q1-2019 Adjusted EPS, preferred stock dividends of $26 million are added back to Adjusted Earnings and approximately14 million shares are included in Adjusted Diluted Weighted-Average Common Shares Outstanding because of the dilutive effect of thecompany's Series A mandatory convertible preferred stock in the quarter. Responding to COVID-19As part of its commitment to deliver energy with purpose, Sempra Energy is dedicated to the safety and well-being of its employees, customers, partners and communities. The company has activated an enterprise-wide Task Force designed to respond to the impacts of the global pandemic and identify and mitigate risks across the Sempra Energy family of companies. Sempra Energy's operating companies are providing critical energy services to hospitals, healthcare facilities, first responders and others on the frontline of the crisis. The Sempra Energy family of companies has donated approximately $8 million to COVID-19 relief efforts in areas where they operate, including California, Texas, Louisiana, Mexico and South America. This includes a $1.75 million Nonprofit Hardship Fund created by the Sempra Energy Foundation to help small to medium-sized nonprofits serve critical needs related to COVID-19. Strengthening Balance Sheet and Liquidity Position with Peru SaleLast month, Sempra Energy announced the completion of the sale of its Peruvian businesses, including its 83.6% interest in Luz del Sur S.A.A., to an affiliate of China Yangtze Power International (Hongkong) Co., Limited, generating approximately $3.6 billion in total cash proceeds, subject to post-closing adjustments. Sempra Energy continues to advance the sale of its Chilean assets, including its 100% interest in Chilquinta Energía S.A., to China State Grid International Development Limited for $2.23 billion in total cash proceeds, subject to adjustments and satisfaction of closing conditions. The completion of these transactions will conclude Sempra Energy's planned sale of its South American businesses. Proceeds from the sales will be used to further strengthen the company's balance sheet and help fund the company's record capital plan. Providing Essential Services at U.S. Utility Infrastructure BusinessesSempra Energy's U.S. utility infrastructure businesses continue to deliver safe and reliable service to their customers. In March 2020, the Federal Energy Regulatory Commission approved the cost of capital settlement terms that SDG&E and all settling parties reached in October 2019. The settlement agreement provides for a return on equity (ROE) of 10.6%, consisting of a base ROE of 10.1% plus an additional 50 basis points for participation in the California Independent System Operator service area. Additionally, SDG&E and SoCalGas filed a joint petition for modification in April 2020 to revise their 2019 General Rate Case (GRC) to add two additional attrition years, resulting in a transitional five-year GRC period from 2019 to 2023. Oncor Electric Delivery Company LLC (Oncor) continues to execute on its five-year capital plan of approximately $11.9 billion. Approximately 90% of projects in Oncor's transmission budget through 2021 do not need further approvals before commencing construction. These projects are designed to support growth, as well as strengthen and expand the grid in Oncor's service territory. Advancing Energy Infrastructure Projects Sempra Energy recently announced that Cameron LNG has reached the final commissioning stage for Phase 1 of the liquefaction-export project in Hackberry, Louisiana, as the third of three liquefaction trains for Phase 1 has achieved mechanical completion, introduced feed gas and initiated the start-up process. This achievement keeps the project on track to produce liquefied natural gas (LNG) from the third and final train in the second quarter of 2020 and begin commercial operations in the third quarter of 2020. Cameron LNG achieved commercial operations of Train 1 and Train 2 under its tolling agreements in August 2019 and February 2020, respectively. Sempra Energy's share of full-year run-rate earnings from the Phase 1 project is anticipated to be between $400 million and $450 million annually starting in 2021 when all three trains are in commercial operations under Cameron LNG's tolling agreements. Sempra Energy indirectly owns 50.2% of Cameron LNG. Cameron LNG is jointly owned by affiliates of Sempra LNG, TOTAL S.A., Mitsui & Co., Ltd., and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha. In March, Port Arthur LNG, LLC and Bechtel Oil, Gas, and Chemicals, Inc. signed a fixed-price EPC contract for the Port Arthur LNG liquefaction project under development in Jefferson County, Texas. Given current market dynamics, a final investment decision is now expected for the project in 2021. Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) continues to develop infrastructure projects that provide consumers in Mexico access to cleaner, more reliable energy. IEnova is actively monitoring the current situation but as a result of the current pandemic, it is reasonable to expect that some of the construction capital will be deferred from 2020 to 2021. Earnings GuidanceSempra Energy's updated full-year 2020 GAAP EPS guidance range is $11.88 to $13.02. The updated range reflects a revision to the estimated gain on the sale of the company's South American businesses and litigation-related charges at SoCalGas and the company's prior investment in RBS Sempra Commodities LLP. Today, the company is reaffirming its full-year 2020 adjusted EPS guidance range of $6.70 to $7.50, and is reaffirming its full-year 2021 EPS guidance range of $7.50 to $8.10. Non-GAAP Financial MeasuresNon-GAAP financial measures include Sempra Energy's adjusted earnings and adjusted EPS for the first quarters of 2020 and 2019, adjusted diluted weighted-average common shares outstanding for the first quarter of 2019, and full-year 2020 adjusted EPS guidance. See Table A for additional information regarding these non-GAAP financial measures. Internet BroadcastSempra Energy will broadcast a live discussion of its earnings results over the Internet today at 12 p.m. ET with senior management of the company. Access is available by logging onto the website at www.sempra.com. For those unable to log onto the live webcast, the teleconference will be available on replay a few hours after its conclusion by dialing (888) 203-1112 and entering passcode 8909332. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and 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 of performance. Future results may differ materially from those expressed in the forward- looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires and the risk that we may be found liable for damages regardless of fault and the risk that we may not be able to recover any such costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances of permits and other authorizations, renewal of franchises, and other actions by the Comisión Federal de Electricidad, California Public Utilities Commission, U.S. Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the COVID-19 pandemic on our (i) ability to commence and complete capital and other projects and obtain regulatory approvals, (ii) supply chain and current and prospective counterparties, contractors, customers, employees and partners, (iii) liquidity, resulting from bill payment challenges experienced by our customers, decreased stability and accessibility of the capital markets and other factors, and (iv) ability to sustain operations and satisfy compliance requirements due to social distancing measures or if employee absenteeism were to increase significantly; the resolution of civil and criminal litigation, regulatory investigations and proceedings, and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas and the impact of the extreme volatility and unprecedented decline of oil prices on our businesses and development projects; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed power generation and from departing retail load resulting from customers transferring to Direct Access, Community Choice Aggregation or other forms of distributed power generation and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SEMPRA ENERGY Table A CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three months ended March 31, (Dollars in millions, except per share amounts; shares in thousands) 2020 2019 (unaudited) REVENUES Utilities $ 2,665 $ 2,515 Energy-related businesses 364 383 Total revenues 3,029 2,898 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (337) (531) Cost of electric fuel and purchased power (229) (256) Energy-related businesses cost of sales (59) (108) Operation and maintenance (951) (832) Depreciation and amortization (412) (383) Franchise fees and other taxes (137) (130) Other (expense) income, net (254) 82 Interest income 27 21 Interest expense (280) (260) Income from continuing operations before income taxes and equity earnings 397 501 Income tax benefit (expense) 207 (42) Equity earnings 263 101 Income from continuing operations, net of income tax 867 560 Income (loss) from discontinued operations, net of income tax 80 (42) Net income 947 518 Earnings attributable to noncontrolling interests (151) (41) Mandatory convertible preferred stock dividends (36) (36) Earnings attributable to common shares $ 760 $ 441 Basic earnings per common share (EPS): Earnings $ 2.60 $ 1.60 Weighted-average common shares outstanding 292,790 274,674 Diluted EPS: Earnings $ 2.53 $ 1.59 Weighted-average common shares outstanding 313,925 277,228 SEMPRA ENERGY Table A (Continued) RECONCILIATION OF SEMPRA ENERGY ADJUSTED EARNINGS TO SEMPRA ENERGY GAAP EARNINGS (Unaudited) Sempra Energy Adjusted Earnings and Adjusted Diluted Earnings Per Common Share (Adjusted EPS) exclude items (after the effects of income taxes and, if applicable, noncontrolling interests) in 2020 and 2019 as follows: Three months ended March 31, 2020: $(72) million from impacts associated with Aliso Canyon natural gas storage facility litigation at Southern California Gas Company (SoCalGas) $(100) million equity losses at RBS Sempra Commodities LLP, which represents an estimate of our obligations to settle pending tax matters and related legal costs at our equity method investment at Parent and Other Three months ended March 31, 2019:Associated with holding the South American businesses for sale: $(103) million income tax expense from outside basis differences in our South American businesses primarily related to the change in our indefinite reinvestment assertion from our decision in January 2019 to hold those businesses for sale $10 million income tax benefit to reduce a valuation allowance against certain net operating loss (NOL) carryforwards as a result of our decision to sell our South American businesses Sempra Energy Adjusted Earnings, Weighted-Average Common Shares Outstanding – Adjusted and Adjusted EPS are non-GAAP financial measures (GAAP represents accounting principles generally accepted in the United States of America). Because of the significance and/or nature of the excluded items, management believes that these non-GAAP financial measures provide a meaningful comparison of the performance of Sempra Energy's business operations to prior and future periods. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below reconciles for historical periods these non-GAAP financial measures to Sempra Energy GAAP Earnings, Weighted-Average Common Shares Outstanding – GAAP and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. Pretax amount Income tax(benefit) expense (1) Earnings Income tax expense (benefit) (1) Earnings (Dollars in millions, except per share amounts; shares in thousands) Three months ended March 31, 2020 Three months ended March 31, 2019 Sempra Energy GAAP Earnings $ 760 $ 441 Excluded items: Impacts associated with Aliso Canyon litigation $ 100 $ (28) 72 $ — — Losses from investment in RBS Sempra Commodities LLP 100 — 100 — — Associated with holding the South American businesses for sale: Change in indefinite reinvestment assertion of basis differences in discontinued operations — — — 103 103 Reduction in tax valuation allowance against certain NOL carryforwards — — — (10) (10) Sempra Energy Adjusted Earnings $ 932 $ 534 Diluted EPS: Sempra Energy GAAP Earnings for GAAP EPS (2) $ 796 $ 441 Weighted-average common shares outstanding, diluted – GAAP 313,925 277,228 Sempra Energy GAAP EPS $ 2.53 $ 1.59 Sempra Energy Adjusted Earnings for Adjusted EPS (2)(3) $ 968 $ 560 Weighted-average common shares outstanding, diluted – Adjusted (3) 313,925 291,179 Sempra Energy Adjusted EPS $ 3.08 $ 1.92 (1) Except for adjustments that are solely income tax and tax related to outside basis differences, income taxes were primarily calculated based on applicable statutory tax rates. We did not record an income tax benefit for the equity losses from our investment in RBS Sempra Commodities LLP because, even though a portion of the liabilities may be deductible under United Kingdom tax law, it is not probable that the deduction will reduce United Kingdom taxes. (2) In the three months ended March 31, 2020, due to the dilutive effect of the mandatory convertible preferred stock, the numerator used to calculate GAAP EPS and Adjusted EPS includes an add-back of $36 million of mandatory convertible preferred stock dividends declared in that quarter. (3) In the three months ended March 31, 2019, the assumed conversion of the series A preferred stock and the series B preferred stock are antidilutive for GAAP Earnings, however, the series A preferred stock is dilutive for the higher Adjusted Earnings. As such, the series A preferred stock dividends of $26 million have been added back to the numerator and the dilutive effect of the series A preferred stock shares of 13,951 has been added to the denominator when calculating Adjusted EPS. SEMPRA ENERGY Table A (Continued) RECONCILIATION OF SEMPRA ENERGY 2020 ADJUSTED EPS GUIDANCE RANGE TO SEMPRA ENERGY 2020 GAAP EPS GUIDANCE RANGE (Unaudited) Sempra Energy 2020 Adjusted EPS Guidance Range of $6.70 to $7.50 excludes items (after the effects of income taxes and, if applicable, noncontrolling interests) as follows: $(72) million from impacts associated with Aliso Canyon natural gas storage facility litigation at SoCalGas $(100) million equity losses at RBS Sempra Commodities LLP, which represents an estimate of our obligations to settle pending tax matters and related legal costs at our equity method investment at Parent and Other approximately $1.7 billion to $1.8 billion estimated after-tax gain on the sale of our South American businesses, net of approximately $1.2 billion of income tax expense, which was calculated primarily based on applicable statutory tax rates Sempra Energy 2020 Adjusted EPS Guidance is a non-GAAP financial measure. Because of the significance and/or nature of the excluded items, management believes that this non-GAAP financial measure provides a meaningful comparison of the performance of Sempra Energy's business operations to prior and future periods. Sempra Energy 2020 Adjusted EPS Guidance should not be considered an alternative to Sempra Energy 2020 GAAP EPS Guidance. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below reconciles Sempra Energy 2020 Adjusted EPS Guidance Range to Sempra Energy 2020 GAAP EPS Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. Full-Year 2020 Sempra Energy GAAP EPS Guidance Range $ 11.88 to $ 13.02 Excluded items: Impacts associated with Aliso Canyon litigation 0.24 0.24 Losses from investment in RBS Sempra Commodities LLP 0.34 0.34 Estimated gain on sale of South American businesses (5.76) (6.10) Sempra Energy Adjusted EPS Guidance Range $ 6.70 to $ 7.50 Weighted-average common shares outstanding, diluted (millions) 295 SEMPRA ENERGY Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) March 31,2020 December 31, 2019 (1) (unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,247 $ 108 Restricted cash 23 31 Accounts receivable – trade, net 1,222 1,261 Accounts receivable – other, net 369 455 Due from unconsolidated affiliates 64 32 Income taxes receivable 120 112 Inventories 217 277 Regulatory assets 210 222 Greenhouse gas allowances 79 72 Assets held for sale in discontinued operations 566 445 Other current assets 307 324 Total current assets 5,424 3,339 Other assets: Restricted cash 3 3 Due from unconsolidated affiliates 592 742 Regulatory assets 1,837 1,930 Nuclear decommissioning trusts 987 1,082 Investment in Oncor Holdings 11,619 11,519 Other investments 2,215 2,103 Goodwill 1,602 1,602 Other intangible assets 211 213 Dedicated assets in support of certain benefit plans 413 488 Insurance receivable for Aliso Canyon costs 511 339 Deferred income taxes 265 155 Greenhouse gas allowances 515 470 Right-of-use assets – operating leases 592 591 Wildfire fund 385 392 Assets held for sale in discontinued operations 3,364 3,513 Other long-term assets 691 732 Total other assets 25,802 25,874 Property, plant and equipment, net 37,067 36,452 Total assets $ 68,293 $ 65,665 (1) Derived from audited financial statements. SEMPRA ENERGY Table B (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) March 31,2020 December 31, 2019 (1) (unaudited) LIABILITIES AND EQUITY Current liabilities: Short-term debt $ 5,742 $ 3,505 Accounts payable – trade 1,038 1,234 Accounts payable – other 163 179 Due to unconsolidated affiliates 8 5 Dividends and interest payable 548 515 Accrued compensation and benefits 264 476 Regulatory liabilities 444 319 Current portion of long-term debt and finance leases 2,079 1,526 Reserve for Aliso Canyon costs 284 9 Greenhouse gas obligations 79 72 Liabilities held for sale in discontinued operations 538 444 Other current liabilities 990 866 Total current liabilities 12,177 9,150 Long-term debt and finance leases 20,198 20,785 Deferred credits and other liabilities: Due to unconsolidated affiliates 263 195 Pension and other postretirement benefit plan obligations, net of plan assets 1,085 1,067 Deferred income taxes 2,466 2,577 Deferred investment tax credits 21 21 Regulatory liabilities 3,533 3,741 Asset retirement obligations 2,945 2,923 Greenhouse gas obligations 348 301 Liabilities held for sale in discontinued operations 1,006 1,052 Deferred credits and other 2,136 2,048 Total deferred credits and other liabilities 13,803 13,925 Equity: Sempra Energy shareholders' equity 20,117 19,929 Preferred stock of subsidiary 20 20 Other noncontrolling interests 1,978 1,856 Total equity 22,115 21,805 Total liabilities and equity $ 68,293 $ 65,665 (1) Derived from audited financial statements. SEMPRA ENERGY Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Three months ended March 31, (Dollars in millions) 2020 2019 (unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 947 $ 518 Less: (Income) loss from discontinued operations, net of income tax (80) 42 Income from continuing operations, net of income tax 867 560 Adjustments to reconcile net income to net cash provided by operating activities 175 313 Intercompany activities with discontinued operations, net — 31 Net change in other working capital components 217 169 Insurance receivable for Aliso Canyon costs (172) (16) Changes in other noncurrent assets and liabilities, net 163 (199) Net cash provided by continuing operations 1,250 858 Net cash provided by discontinued operations 68 93 Net cash provided by operating activities 1,318 951 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (1,010) (783) Expenditures for investments and acquisitions (86) (94) Proceeds from sale of assets 5 327 Purchases of nuclear decommissioning trust assets (552) (225) Proceeds from sales of nuclear decommissioning trust assets 552 225 Advances to unconsolidated affiliates (30) — Repayments of advances to unconsolidated affiliates — 3 Intercompany activities with discontinued operations, net (3) — Other 8 7 Net cash used in continuing operations (1,116) (540) Net cash used in discontinued operations (65) (70) Net cash used in investing activities (1,181) (610) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (269) (232) Preferred dividends paid (36) (36) Issuances of common stock 11 11 Repurchases of common stock (57) (14) Issuances of debt (maturities greater than 90 days) 1,619 304 Payments on debt (maturities greater than 90 days) and finance leases (1,433) (837) Increase in short-term debt, net 2,127 497 Advances from unconsolidated affiliates 64 — Purchases of noncontrolling interests (16) (26) Intercompany activities with discontinued operations, net (2) (2) Other (5) (1) Net cash provided by (used in) continuing operations 2,003 (336) Net cash provided by (used in) discontinued operations 111 (45) Net cash provided by (used in) financing activities 2,114 (381) Effect of exchange rate changes in continuing operations (6) — Effect of exchange rate changes in discontinued operations (8) 1 Effect of exchange rate changes on cash, cash equivalents and restricted cash (14) 1 Increase (decrease) in cash, cash equivalents and restricted cash, including discontinued operations 2,237 (39) Cash, cash equivalents and restricted cash, including discontinued operations, January 1 217 246 Cash, cash equivalents and restricted cash, including discontinued operations, March 31 $ 2,454 $ 207 SEMPRA ENERGY Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES, INVESTMENTS AND ACQUISITIONS Three months ended March 31, (Dollars in millions) 2020 2019 (unaudited) Earnings (Losses) Attributable to Common Shares SDG&E $ 262 $ 176 SoCalGas 303 264 Sempra Texas Utilities 105 94 Sempra Mexico 191 57 Sempra Renewables — 13 Sempra LNG 75 5 Parent and other (248) (117) Discontinued operations 72 (51) Total $ 760 $ 441 Three months ended March 31, (Dollars in millions) 2020 2019 (unaudited) Capital Expenditures, Investments and Acquisitions SDG&E $ 402 $ 356 SoCalGas 388 324 Sempra Texas Utilities 86 56 Sempra Mexico 170 85 Sempra LNG 47 56 Parent and other 3 — Total $ 1,096 $ 877 SEMPRA ENERGY Table E OTHER OPERATING STATISTICS (Unaudited) Three months ended March 31, 2020 2019 UTILITIES SDG&E and SoCalGas Gas sales (Bcf) (1) 129 139 Transportation (Bcf) (1) 148 144 Total deliveries (Bcf) (1) 277 283 Total gas customer meters (thousands) 6,933 6,894 SDG&E Electric sales (millions of kWhs) (1) 3,460 3,582 Direct Access and Community Choice Aggregation (millions of kWhs) 769 840 Total deliveries (millions of kWhs) (1) 4,229 4,422 Total electric customer meters (thousands) 1,475 1,460 Oncor (2) Total deliveries (millions of kWhs) 30,420 30,112 Total electric customer meters (thousands) 3,703 3,639 Ecogas Natural gas sales (Bcf) 1 1 Natural gas customer meters (thousands) 135 124 ENERGY-RELATED BUSINESSES Power generated and sold Sempra Mexico Termoeléctrica de Mexicali (TdM) (millions of kWhs) 826 1,137 Wind and solar (millions of kWhs) (3) 422 245 (1) Includes intercompany sales. (2) Includes 100% of the electric deliveries and customer meters of Oncor Electric Delivery Company LLC (Oncor), in which we hold an indirect 80.45% interest at March 31, 2020 and an indirect 80.25% interest at March 31, 2019. (3) Includes 50% of the total power generated and sold at the Energía Sierra Juárez wind power generation facility, in which Sempra Energy has a 50% ownership interest. Energía Sierra Juárez is not consolidated within Sempra Energy, and the related investment is accounted for under the equity method. SEMPRA ENERGY Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT Three months ended March 31, 2020 (Dollars in millions) SDG&E SoCalGas SempraTexasUtilities SempraMexico SempraRenewables SempraLNG ConsolidatingAdjustments,Parent & Other Total Revenues $ 1,269 $ 1,395 $ — $ 309 $ — $ 123 $ (67) $ 3,029 Cost of sales and other expenses (679) (872) (1) (137) — (87) 63 (1,713) Depreciation and amortization (201) (159) — (47) — (2) (3) (412) Other income (expense), net 31 30 — (283) — — (32) (254) Income (loss) before interest and tax (1) 420 394 (1) (158) — 34 (39) 650 Net interest (expense) income (100) (39) — (14) — 6 (106) (253) Income tax (expense) benefit (58) (52) — 307 — (23) 33 207 Equity earnings (losses), net — — 106 200 — 57 (100) 263 (Earnings) losses attributable to noncontrolling interests — — — (144) — 1 — (143) Preferred dividends — — — — — — (36) (36) Earnings (losses) from continuing operations $ 262 $ 303 $ 105 $ 191 $ — $ 75 $ (248) 688 Earnings from discontinued operations 72 Earnings attributable to common shares $ 760 Three months ended March 31, 2019 (Dollars in millions) SDG&E SoCalGas SempraTexasUtilities SempraMexico SempraRenewables SempraLNG ConsolidatingAdjustments,Parent & Other Total Revenues $ 1,145 $ 1,361 $ — $ 383 $ 7 $ 141 $ (139) $ 2,898 Cost of sales and other expenses (697) (913) — (192) (11) (142) 98 (1,857) Depreciation and amortization (186) (147) — (44) — (2) (4) (383) Other income, net 22 16 — 19 — — 25 82 Income (loss) before interest and tax (1) 284 317 — 166 (4) (3) (20) 740 Net interest (expense) income (102) (34) — (11) 7 10 (109) (239) Income tax (expense) benefit (5) (19) — (72) 10 (4) 48 (42) Equity earnings, net — — 94 2 3 2 — 101 Earnings attributable to noncontrolling interests (1) — — (28) (3) — — (32) Preferred dividends — — — — — — (36) (36) Earnings (losses) from continuing operations $ 176 $ 264 $ 94 $ 57 $ 13 $ 5 $ (117) 492 Losses from discontinued operations (51) Earnings attributable to common shares $ 441 (1) Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations. [SRE-F] SOURCE Sempra Energy

SoCalGas Partners with The Laundry Truck LA and Landi Renzo USA to Bring Additional Mobile Laundry Services to Thousands of Homeless Throughout Los Angeles

LOS ANGELES, April 30, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced a $25,000 donation to The Laundry Truck LA (TLTLA) to provide free laundry services and necessities to the homeless population in Los Angeles, including at the city's 42 coronavirus relief centers. The grant will help fund the purchase and furnishing of a second trailer to support the community's rising demands for laundry services. Landi Renzo USA , a global leader in alternative fuel technology, will also donate a truck equipped with the company's Eco Ready™ compressed natural gas (CNG) system to support TLTLA's efforts. The converted CNG Ford F-250 pickup truck will help TLTLA expand their reach and lower the organization's current transportation costs by 30 percent. With the donations from SoCalGas and Landi Renzo, TLTLA is expecting to complete 15,600 loads of laundry in 2020. "In this pandemic, it is more critical than ever that our neighbors who are experiencing homelessness gain access to basic needs, such as laundry services," said Los Angeles County Supervisor Hilda L. Solis. "Without a vaccine, we all must maintain good hygiene and wash our clothes frequently. It is our best line of defense against this highly contagious virus. Our community partners are providing loads of help and hope by stepping up to ensure individuals who lack stable housing will get their clothes cleaned through the free services offered by The Laundry Truck LA." "As an early supporter and funder of The LA Laundry Truck to provide critical hygiene services to unhoused Angelenos in my district, I applaud SoCalGas for their community support by investing in the expansion of The LA Laundry Truck with $25,000 funding towards a new trailer and a new CNG truck to haul the trailer," said Gil Cedillo, councilmember of Los Angeles Council District 1. "Together, we are united to provide mobile laundry service that meets the public health and personal welfare of unhoused Angelenos." "This is an unprecedented time, and our homeless neighbors in Los Angeles County need our support more than ever," said Trisha Muse, director of community relations at SoCalGas. "Our partnership with Landi Renzo and The Laundry Truck LA not only allows us to serve our community but also the environment." "This partnership is an amazing opportunity for us to be able to help and give back to our local community. We are pleased to partner with SoCalGas and The Laundry Truck to contribute in this unparalleled time of need," said Andrea Landi, president of Landi Renzo USA. "Our Ford F-250 truck with the Landi Renzo compressed natural gas system will help The Laundry Truck with their mobile services while lowering emissions, reducing their environmental impact, and decreasing their fuel costs." The Laundry Truck LA is a non-profit organization dedicated to providing free mobile laundry services for those in need throughout Los Angeles and is one of the first mobile laundry services in the country to serve the homeless population. Prior to this donation, TLTLA served the community through a trailer furnished with five sets of washers and dryers, a folding station, and a water heater. Through the help of donations and partnerships, TLTLA is now expanding their operations to further assist the additional six thousand beds the City of Los Angeles have committed to for the COVID-19 pandemic. "We believe that essential personal care services, like clean laundry, can truly impact lives -- especially at a time like this," said Jodie Dolan, founder and owner of The Laundry Truck LA. "This generous donation from SoCalGas and Landi Renzo will allow us to provide these critical services to some of the most vulnerable Angelenos." SoCalGas is dedicated to supporting the health, safety and wellness of our community. This donation is in addition to SoCalGas' $1 million donation towards nonprofit organizations throughout its service area to help those in need during the COVID-19 pandemic. This money will be used to support the region's workforce, feed the hungry, and provide bill assistance to customers most affected by the coronavirus. Additional information about SoCalGas's response to COVID-19 is available here . About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America , delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. About The Laundry Truck LA Founded in 2017, The Laundry Truck LA (TLTLA) is a non-profit organization dedicated to providing a free mobile laundry service for unhoused residents and those in need in Los Angeles. TLTLA was one of the first mobile laundry services in the country to serve the homeless community, and one of a handful in the world. TLTLA is expanding its services through local city, county and community support – and provided an estimated 3,000-4,000 loads of laundry in 2019. Accessible personal care services, like clean laundry, truly impact lives, and can make the difference in securing employment or housing, or for kids, the difference in having a positive school experience. For additional information, please visit https://www.thelaundrytruckla.com/ . About Landi Renzo Landi Renzo is the world leader in the manufacturing of alternative fuel systems and components for the automotive industry. The Company has its global headquarters in Reggio Emilia, Italy, in addition to subsidiaries in 10 different countries, including Landi Renzo USA, based in Torrance, CA. As the leader in eco-mobility with 66 years' experience and an established presence in more than 70 countries, Landi Renzo has provided alternative fuels systems to over 50 million vehicles globally, allowing a CO 2 reduction of 15 million tons. Within the United States, Landi Renzo USA is a Ford Qualified Vehicle Modifier for developing and integrating compressed natural gas vehicle systems in commercial fleets. In addition, Landi Renzo USA is the only Ford-approved compressed natural gas vehicle system supplier in the state of California. Learn more at www.LandiUSA.com . SOURCE Southern California Gas Company

SoCalGas Donates $10,000 to Non-Profit Hope through Housing Foundation; Partners with Local Restaurant to Feed Yucca Valley Seniors

LOS ANGELES, April 24, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced it has donated $10,000 to local non-profit, Hope Through Housing Foundation. The funds will be used to provide weekly meals to low-income seniors who reside in the Dumosa Senior Village affordable housing community in Yucca Valley, and to provide additional assistance to vulnerable residents during the COVID-19 crisis. SoCalGas and Hope Through Housing have partnered with local Yucca Valley restaurant John's Place to deliver individually packaged lunches once a week to each of the 85 seniors living at the property for the next month. In addition, Hope Through Housing will be providing regular well-being calls, individual resource assistance, and virtual financial counseling to residents in need. "SoCalGas is thrilled to be able to partner with the Hope Through Housing Foundation and John's Place and provide meals to seniors in need," said Trisha Muse, director of community relations at SoCalGas. "SoCalGas believes it is important to support the communities we serve, not just by providing affordable and reliable natural gas service but also through these small acts of kindness and lending a helping hand to our friends and neighbors." "During this challenging time, this grant will help us feed and provide individual assistance to vulnerable seniors, many of whom are homebound with limited support – with a double impact by supporting a local, family-owned business," said Gregory Bradbard, President of Hope Through Housing. "Right now, it is crucial for communities to come together and help one another where needed, said John Tsiolis, owner of John's Place. "We are grateful SoCalGas and Hope Through Housing Foundation reached out to us to provide these meals and not only gave business to a small restaurant like ours during these trying and unprecedented times, but also gave us the opportunity to make a big impact in our community." In 1998, the Hope through Housing Foundation was established to empower residents of National Community Renaissance (National CORE) properties, one of the largest nonprofit affordable housing developers in the country. Wanting to do more to help the children, families and seniors who lived in its communities, the Hope through Housing Foundation was created to deliver a broad range of charitable and educational programs for children, young adults, low-income and underprivileged families and seniors and the general public. Last year, SoCalGas donated more than $7.6 million to community organizations, local non-profits and other groups. SoCalGas employees contributed more than $750,000 dollars through payroll deductions and performed over 24,000 logged volunteer hours for various community groups throughout its service territory. Please see SoCalGas' 2019 Community Giving Summary for more information. For further information: Patrice Clayton, SoCalGas Office of Media and Public Information, (213) 244-2442, pclayton@socalgas.com; or Gregory Bradbard, Hope Through Housing Foundation & National CORE, (909) 204-3436, gbradbard@hthf.org. SoCalGas COVID-19 Response Last month, SoCalGas announced a $1 million donation to nonprofit organizations throughout its service area to support the region's workforce, feed the hungry, and provide bill assistance to customers most affected by the coronavirus. Together, the Sempra Energy family of companies – including SoCalGas' sister California utility San Diego Gas and Electric and the Sempra Energy Foundation – are stepping up with more than $7 million to those in need during this crisis. SoCalGas has also suspended service disconnections until further notice. This means no residential or small business customer will have their natural gas turned off due to non-payment. SoCalGas has also temporarily waived late fees for small business customers. Late fees are never charged for residential customers. Natural gas continues to flow and is being delivered to SoCalGas' 22 million customers across southern and central California, just as it does on a "typical" day. There is no shortage of supply of natural gas for homes or businesses or to power plants that generate electricity. Under the Governor's recent Executive Order, members of the critical infrastructure sector, including natural gas providers, are considered necessary to the security, economic security, public health and safety of California. SoCalGas continues to perform work needed to safely and reliably maintain its natural gas infrastructure and to provide communities with safe and reliable energy services. SoCalGas also continues to make essential and emergency service appointments, including reports of suspected natural gas leaks, carbon monoxide checks, gas meter turn-ons, natural gas outage and pilot re-lights while protecting the safety of our workforce, customers and the communities we serve . For more information about SoCalGas' response to the COVID-19 pandemic, visit www.socalgas.com/coronavirus. Hope Through Housing COVID-19 Response During this challenging time, the Hope Through Housing Foundation (HTHF) is uniquely positioned to respond to the immediate and sustained needs of thousands of low‐income families and seniors across Southern California and Texas. Utilizing our on‐site Community Centers and long‐standing relationships with residents living within 70+ National CORE affordable apartment communities, we have the ability to deliver resources and support right where residents live throughout and beyond the COVID‐19 crisis. To address the pressing needs of our residents, Hope Through Housing has launched the COVID‐19 Emergency Response & Resilience Fund. Dollars contributed to the fund will directly support response efforts to meet the immediate needs of residents during the time of crisis and will help facilitate resilience and a full recovery by residents in the aftermath of this time. Specifically, HTHF's response and resilience efforts include the following: Immediate distribution of food, household items, and other needed supplies to ensure residents – especially seniors and those with disabilities – can safely remain at home while meeting their basic needs. Resource coordination by dedicated Hope Service Coordinators available via telephone to connect residents with community resources and other important health information – including medication and grocery delivery, unemployment assistance, and transportation. Service Coordinators are also performing virtual welfare checks on vulnerable residents to ensure their well‐being while quarantined at home. Healthcare navigation by our Service Coordinators will also ensure residents have quality information about COVID‐19, access to medical support, and assistance understanding and receiving quality medical care to address relevant health needs. Economic assistance to ensure residents remain housed and are able to meet their ongoing household needs. Short term, this may include access to unemployment benefits, rent and utility assistance, and supplemental resources to help reduce expenses. Long term, our focus will shift to helping residents recover from this period through employment & education assistance and the development of budgeting/money management skills. For more information, visit www.HTHF.org/relief. About Hope through Housing The Hope through Housing Foundation is committed to elevating the health, well-being, and self-sufficiency of low-income families and seniors. Hope through Housing delivers quality services within over 70 affordable housing sites, helping children and teens achieve success, improving families' financial well-being, and promoting seniors' health and wellness. For more information on Hope through Housing, please visit www.hthf.org. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

Sempra Energy Completes $3.59 Billion Divestiture Of Luz Del Sur In Peru

SAN DIEGO, April 24, 2020 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that it completed the sale of its Peruvian businesses, generating approximately $3.59 billion in total cash proceeds, subject to post-closing adjustments. The sale to China Yangtze Power International (Hongkong) Co., Limited (CYP) and assigned to Yangtze Andes Holding Co., Limited includes Sempra Energy's 83.6% stake in Luz del Sur S.A.A. ( Luz del Sur), as well as Tecsur S.A., which provides electric construction and infrastructure services to Luz del Sur and third parties, and Inland Energy S.A.C., Luz del Sur's generation business. "We are very pleased with today's announcement as the sales proceeds will be used to further strengthen our balance sheet and our already solid liquidity position," said Jeffrey W. Martin, chairman and CEO of Sempra Energy. "We're also very excited that, in the face of current travel restrictions, all parties worked safely together to complete this deal as expected. We also remain on track for the sale of our Chilean businesses, which will complete the divestiture of all of Sempra Energy's South American assets and further our mission to become North America's premier energy infrastructure company." Sempra Energy continues to move forward with the sale of its Chilean assets, including its 100% interest in Chilquinta Energía S.A., to State Grid International Development Limited for approximately $2.23 billion in total cash proceeds, subject to adjustments and satisfaction of closing conditions. In combination, these transactions will conclude Sempra Energy's planned sale of its South American businesses for approximately $5.82 billion in total cash proceeds, subject to adjustments and, with respect to the sale of its Chilean assets, satisfaction of closing conditions. BofA Merrill Lynch is serving as a financial advisor to Sempra Energy on the sale, and White & Case is serving as legal advisor. Luz del Sur serves the southern region of Lima, Peru, and is the largest electric company in the country. About China Yangtze Power Co LtdYangtze Andes Holding Co., Limited is a subsidiary of China Yangtze Power Co Ltd, which is China's largest publicly listed power company. China Yangtze Power Co Ltd engages in electric power production, technological consultation of electric power generation and selected distribution services. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets reported in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and 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 of performance. Future results may differ materially from those expressed in the forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires and the risk that we may be found liable for damages regardless of fault and the risk that we may not be able to recover any such costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances of permits and other authorizations, renewal of franchises, and other actions by the Comisión Federal de Electricidad, California Public Utilities Commission, U.S. Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the resolution of civil and criminal litigation, regulatory investigations and proceedings and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas; the impact of the COVID-19 pandemic on (i) our ability to commence and complete capital projects and obtain regulatory approvals, (ii) our current and prospective counterparties, customers and partners, and (iii) the stability of the capital markets; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed power generation and from departing retail load resulting from customers transferring to Direct Access, Community Choice Aggregation or other forms of distributed power generation and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy

Cameron LNG Begins Final Commissioning Stage Of Train 3

SAN DIEGO, April 22, 2020 /PRNewswire/ -- Sempra LNG, a subsidiary of Sempra Energy (NYSE: SRE), today announced that Cameron LNG has entered the final commissioning stage for the Phase 1, three-train liquefaction-export project in Hackberry, La., as it began introducing pipeline feed gas flow to the third and last liquefaction train. "Cameron LNG is a huge success story and a great tribute to what this organization and its people are capable of," said Lisa Glatch, chief operating officer of Sempra LNG and board chair for Cameron LNG. "We are proud of Sempra LNG's development of this project as well as Cameron LNG's employees and contractors who have built and are operating this facility. With a commitment to health and safety first, the commissioning and startup of Train 3 will help meet demand from global markets for cleaner and more secure energy sources." Approximately 88 million hours have been worked without a lost-time incident and 58 liquefied natural gas (LNG) cargoes have been shipped from the facility. Following authorization received from the Federal Energy Regulatory Commission allowing the introduction of pipeline feed gas, Cameron LNG began ramping up the feed gas deliveries to the third train as it completes the commissioning process. Commercial operation of Train 3 remains on track to begin in the third quarter of 2020. Phase 1 of the Cameron LNG export project includes three liquefaction trains that will enable the export of approximately 12 million tonnes per annum (Mtpa) of LNG or approximately 1.7 billion cubic feet per day. Cameron LNG is jointly owned by affiliates of Sempra LNG, Total S.A., Mitsui & Co., Ltd., and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK). Sempra Energy indirectly owns 50.2% of Cameron LNG. Sempra Energy's share of full-year run-rate earnings from the Phase 1 project is anticipated to be between $400 million and $450 million annually starting in 2021 when all three trains are in commercial operations under Cameron LNG's tolling agreements. Sempra LNG is also developing four other LNG export projects in North America, including Cameron LNG Phase 2, Port Arthur LNG in Texas, and Energía Costa Azul LNG Phase 1 and Phase 2 in Mexico, with the goal of developing infrastructure capable of producing 45 Mtpa of LNG to export to world markets, which would make Sempra Energy one of North America's largest developers of LNG-export facilities. The successful development and ultimate construction of Sempra Energy's LNG export projects are subject to a number of risks and uncertainties and there can be no assurance that any of these projects will be completed. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets reported in 2019, the San Diego based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and 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 of performance. Future results may differ materially from those expressed in the forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuances of permits and other authorizations, and other actions by the U.S. Department of Energy, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the novel coronavirus and the disease it causes, referred to as COVID-19, on (i) our ability to commence and complete capital projects and obtain regulatory approvals, (ii) our current and prospective counterparties, customers and partners, and (iii) the stability and accessibility of the capital markets; the resolution of civil and criminal litigation, regulatory investigations and proceedings and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may impact our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website at www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra LNG and Port Arthur LNG, LLC are not the same as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, or Oncor Electric Delivery Company LLC and are not regulated by the California Public Utilities Commission. SOURCE Sempra LNG

Sempra Energy To Report First-Quarter 2020 Earnings May 4

SAN DIEGO, April 20, 2020 /PRNewswire/ -- Sempra Energy (NYSE: SRE) plans to release its first-quarter 2020 earnings by 7 a.m. ET, May 4. Sempra Energy executives will conduct a conference call at 12 p.m. ET, May 4. Investors, media, analysts and the public may listen to a live webcast of the conference call on the company's website, sempra.com, by clicking on the appropriate audio link. Prior to the conference call, a slide presentation detailing the earnings results also will be posted by 7 a.m. ET, May 4, on Sempra Energy's website. For those unable to obtain access to the live webcast, it will be available on replay a few hours after its conclusion by dialing (888) 203-1112 and entering passcode 8909332, or it can be accessed on the company's website. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets reported in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. SOURCE Sempra Energy

SoCalGas Takes Next Step Toward Offering Renewable Natural Gas

LOS ANGELES –April 17, 2020-- Southern California Gas Co. (SoCalGas) today announced it and other important stakeholders have agreed on details of a proposed plan to offer renewable natural gas to customers, and have filed that agreement with the California Public Utilities Commission (CPUC). Stakeholders include consumer advocate groups (including the state’s consumer advocate), a national environmental organization, and various industry groups. Renewable natural gas can be used just like traditional natural gas to cook, heat homes and run businesses, and fuel trucks and buses. The fuel can be made when methane, a greenhouse gas that occurs naturally when organic waste breaks down, is captured rather than being released into the air. The proposed program would allow millions of Californians the option to purchase a portion of their natural gas from renewable sources, just as many today can opt to purchase renewable electricity. The program is expected to create increased demand for renewable natural gas, which can help increase supply and lower its cost over time, similar to what has happened with renewable electricity created from wind and solar power. “Replacing traditional natural gas with the renewable kind is a great way to reduce climate change emissions,” said Andy Carrasco, SoCalGas chief environmental officer. “People like using natural gas for cooking, hot water and home heating, so using renewable gas allows them to keep their preferred energy source while helping achieve climate goals.” With the agreement in place, the CPUC can begin its review and evaluation process; a decision could come in the fall of this year. The production and use of renewable natural gas in California has steadily increased since the enactment of a 2016 law requiring the reduction of methane emissions from dairy farms and diversion of food and green waste from landfills. Over 30 dairy renewable natural gas projects are now in operation in the state, and about 50 more are in various stages of development. Renewable natural gas from a San Joaquin Valley dairy digester facility began flowing into SoCalGas' pipelines over a year ago. Renewable natural gas is also being made in California from household food waste, grass clippings and the like, keeping such waste out of landfills and putting it to use. In 2018, SoCalGas began putting the renewable gas in its pipelines from a waste hauling company's anaerobic digestion facility in Perris, California. In 20 years, enough renewable natural gas will be available to replace about 90 percent of the nation's current residential natural gas consumption, a recent study by ICF estimates. While thus far most renewable natural gas produced in California has been used for heavy-duty trucking, Renewable natural gas can also be used in homes, which contribute about six percent of California’s greenhouse gas emissions. A 2018 study showed that replacing less than 20 percent of SoCalGas’ traditional natural gas supply with renewable natural gas by 2030 can achieve the same greenhouse gas reductions as converting all homes and commercial buildings to electric-only energy. That same study also found that using a mix of in- and out-of-state renewable gas resources would be 2 to 3 times more cost effective in reducing greenhouse gases than converting homes to all-electric. Renewable Natural Gas Program Details If approved, the renewable natural gas program will be available to residential and small commercial and industrial customers. Residential customers will be able to select a fixed dollar amount per month for the purchase of renewable natural gas. Commercial customers will be able to select a fixed dollar amount per month or select a percentage of their consumption for the purchase of renewable natural gas, up to 100%. Each month, participating customers would see a line item on their bill that includes the amount of renewable gas they received, along with a very small program fee. To allow the utilities to enter into the longer-term contracts necessary to purchase renewable natural gas, residential customers will have to commit to one year. After one year, they would have the option to change their dollar amount or could participate on a month-to-month basis. As customers opt to purchase renewable natural gas, SoCalGas will buy the renewable gas from producers and reduce the amount of fossil gas that is brought into their pipeline systems. As renewable natural gas enters the SoCalGas pipeline system, its molecules blend together with traditional natural gas just like solar and wind electrons on the electric grid. Every additional therm of this renewable fuel that customers purchase means one less therm of traditional natural gas is used. # # # About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook.

SoCalGas Announces Approval of 10-Year Mobile Home Park Safety Upgrade Program

LOS ANGELES, April 16, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced it has received state approval to provide safety and service upgrades to thousands of additional mobile home parks through a ten-year Mobilehome Park Utility Conversion Program. Since its inception in 2014, the program has upgraded infrastructure and enhanced safety at more than 16,000 mobile homes in more than 244 mobile home communities throughout SoCalGas' territory. Now, due to the program's success, the CPUC voted to establish it as a ten-year, ongoing program, authorizing SoCalGas to upgrade up to half of the approximately 132,000 mobile homes in its service territory to direct utility service through 2030. The MHP Utility Conversion Program is completely voluntary. Participating mobile home communities receive a new, professionally installed gas system that provides enhanced home safety and energy reliability for residents. As direct SoCalGas customers, residents can also sign up for a variety of SoCalGas' energy savings and assistance programs that can help them save money. "This program will enhance safety for thousands of families across our service territory." said Rodger Schwecke, SoCalGas' senior vice president of gas operations and construction. "With direct utility service, families will also have access to a host of energy savings and assistance programs that will help mobile home park residents save money and live more comfortably." "As the Chair of the Senate Select Committee on Manufactured Home Communities, I applaud the California Public Utilities Commission's ten-year continuation of the Mobile Home Park Utility Conversion Program," said Senator Connie M. Leyva (D- Chino). "This program continues to help residents of mobile home park communities across California, and I appreciate SoCalGas' participation in this program." "The process from start to finish was incredibly smooth with minimal issues," said, Jamie Taylor manager of a Gardena, California mobile home park called Los Flamingos Lodge, which had direct utility service installed last year. "The entire SoCalGas team was efficient and worked seamlessly with our residents to get the work completed in a timely manner. Our mobile park's direct SoCalGas service will help us maintain state compliance guidelines and will allow park management to focus on other areas that can help improve our community for our residents." Enrique Lopez, a resident at Peter Pan Mobile Village in Compton, California, received direct utility service last year. "SoCalGas did a great job," he said. "Everything is going well, and I am very happy with my gas service." Mobile home park residents with direct natural gas service will have advanced meters, which allow customers to have access to their hourly natural gas usage on a next-day basis and enable them to better manage their gas usage and save money. New SoCalGas customers will now also be able to set up their own "My Account" to view and pay their bill online, schedule service and/or sign up for paperless billing. Income-qualified customers can also benefit from energy savings and assistance programs that can help them save money. More information about these programs is available at socalgas.com (search "Assistance") or by calling 1-800-252-0259 (available in English and Spanish). Owners of participating mobile home communities also see benefits. Owners will no longer have to maintain or be liable for privately-owned gas systems and instead can contact SoCalGas directly for service needs. Direct service also saves owners time, since they no longer have to read meters, bill residents or respond to service questions. The program covers costs for installing new utility service at each mobile home community including, individual resident meters. Nearly 80 percent of all mobile home communities in SoCalGas' territory applied to participate in the initial pilot program. For more information about the mobile home park utility conversion program and how to apply, please visit https://www.socalgas.com/stay-safe/safety-and-prevention/mobilehome-par…. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

Sempra Energy To Hold Virtual Annual Shareholders Meeting

SAN DIEGO, April 14, 2020 /PRNewswire/ -- Sempra Energy (NYSE:SRE) announced today that its 2020 Annual Shareholders Meeting will change to a virtual-only format, to help protect the health and safety of employees, shareholders and the communities it serves in light of the public health impact of the COVID-19 pandemic. Sempra Energy's Annual Shareholders Meeting (Annual Meeting) will take place at 9 a.m. Pacific Time on May 5, 2020, the same date and time as originally scheduled. There also is no change to the items of business to be addressed at the meeting, which are described in Sempra Energy's proxy materials as previously distributed. The change to a virtual-only format for the meeting is in line with California Gov. Gavin Newsom's executive order N-40-20, released on March 30, 2020, issued under the state of emergency declared due to the COVID-19 pandemic. Sempra Energy intends to return to in-person Annual Meetings next year. Shareholders will not be able to attend the Annual Meeting in person. Instead, shareholders should follow the instructions provided below to attend the virtual Annual Meeting. Shareholders who attend the virtual Annual Meeting by following the instructions below will have an opportunity to vote and to submit questions electronically during the meeting. Guests may access the virtual Annual Meeting in listen-only mode by visiting the virtual meeting site provided below, but will not be able to vote or submit questions during the meeting. The proxy materials for the Annual Meeting are available on Sempra Energy's website at Sempra.com/annualmeeting and at https://www.astproxyportal.com/ast/Sempra/. Shareholders are encouraged to vote their shares prior to the virtual Annual Meeting by any of the methods described in the proxy materials. The proxy card and voting instruction form included with the previously distributed proxy materials will not be updated to reflect the change in location of the meeting, but they may continue to be used to vote your shares on the proposals to be presented at the virtual meeting. Shareholders who have previously voted do not need to take any further action. Instructions to Attend the Annual Meeting Record Holders: If you were a holder of record of common stock of Sempra Energy at the close of business on March 9, 2020 (i.e. your shares are held in your own name in the records of Sempra Energy's transfer agent, American Stock Transfer & Trust Company, LLC (AST)), you can attend the virtual Annual Meeting by visiting https://web.lumiagm.com/293523272 and entering the 11-digit control number previously provided to you in your proxy materials. The password for the virtual meeting is sempra2020. If you are a shareholder of record and you have misplaced your 11-digit control number, please call AST at (877) 773-6772. Beneficial Owners: If you were a beneficial owner of common stock of Sempra Energy at the close of business on March 9, 2020 (i.e. you hold your shares in "street name" through an intermediary, such as a bank, broker or other nominee), you must register in advance in order to attend the virtual Annual Meeting. To register, please obtain a legal proxy from the bank, broker or other nominee that is the record holder of your shares and then submit the legal proxy, along with your name and email address, to AST to receive an 11-digit control number that may be used to access the virtual Annual Meeting site provided above. Any control number that was previously provided with your proxy materials, likely a 16-digit number, will not provide access to the virtual Annual Meeting site. Requests for registration and submission of legal proxies should be labeled as "Legal Proxy" and must be received by AST no later than 5 p.m., Eastern Time, on April 30, 2020. All such requests should be submitted (1) by email to proxy@astfinancial.com, (2) by facsimile to (718) 765-8730 or (3) by mail to American Stock Transfer & Trust Company, LLC, Attn: Proxy Tabulation Department, 6201 15th Avenue, Brooklyn, NY 11219. Obtaining a legal proxy may take several days and shareholders are advised to register as far in advance as possible. Once you have obtained your 11-digit control number from AST, please follow the steps set forth above for shareholders of record to attend the virtual Annual Meeting. Holders of Shares in the Sempra Energy Employee Savings Plans: If you were a holder of shares of Sempra Energy common stock through the Sempra Energy Employee Savings Plans at the close of business on March 9, 2020, you may attend the virtual Annual Meeting by using the 11-digit control number previously provided to you and following the steps set forth above for shareholders of record. However, please note that your vote must be provided by the deadline set forth in our proxy materials and you will not be able to vote your shares at the virtual Annual Meeting. Record holders, beneficial owners and holders of shares in the Sempra Energy Employee Savings Plan should call AST at (877) 773-6772 with any questions about attending the virtual Annual Meeting. You can also visit our website at Sempra.com/annualmeeting for additional information about the virtual Annual Meeting. If you encounter any difficulty accessing the virtual Annual Meeting, please visit https://go.lumiglobal.com/faq for assistance. About Sempra Energy Sempra Energy's mission is to be North America's premier energy infrastructure company. With more than $65 billion in total assets reported in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. SOURCE Sempra Energy

Sempra Energy Receives All Required Governmental Authorizations For $3.59 Billion Divestiture Of Luz Del Sur In Peru

SAN DIEGO, April 10, 2020 /PRNewswire/ -- Sempra Energy (NYSE:SRE) announced today that it has received all required governmental authorizations for the sale of the company's equity interests in its Peruvian businesses. The sale to China Yangtze Power International (Hongkong) Co., Limited (CYP) will generate approximately $3.59 billion in total cash proceeds and is subject to customary post-closing adjustments. This transaction includes Sempra Energy's 83.6% stake in Luz del Sur S.A.A. ( Luz del Sur), as well as Tecsur, which provides electric construction and infrastructure services to Luz del Sur and third parties, and Inland Energy S.A.C., Luz del Sur's generation business. "Receiving all required governmental authorizations for the sale of our Peruvian businesses is another important step in strengthening Sempra Energy's strategic mission to be North America's premier energy infrastructure company," said Dennis V. Arriola, executive vice president and group president of Sempra Energy. "We're pleased that in spite of travel and logistics restrictions, all parties involved have been working closely together and we look forward to closing in April." Sempra Energy also continues to move forward with the sale of its equity interests in its Chilean business, including its 100% interest in Chilquinta Energía S.A. and Tecnored S.A., to State Grid International Development Limited (SGID) for approximately $2.23 billion in total cash proceeds, subject to adjustments and satisfaction of closing conditions. In combination, Sempra Energy's planned sale of its South American businesses is expected to result in combined proceeds of approximately $5.82 billion in total cash proceeds, subject to adjustments and satisfaction of closing conditions. BofA Merrill Lynch and Lazard are serving as financial advisors to Sempra Energy on the sale, and White & Case is serving as legal advisor. Luz del Sur serves the southern region of Lima, Peru, and is the largest electric company in the country. About China Yangtze Power International CYP is a subsidiary of China Yangtze Power Co., which is China's largest publicly listed power company. China Yangtze Power Co. engages in electric power production, technological consultation of electric power generation and selected distribution services. About Sempra Energy Sempra Energy's mission is to be North America's premier energy infrastructure company. With more than $65 billion in total assets reported in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 20,000 employees deliver energy with purpose to over 40 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and 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 of performance. Future results may differ materially from those expressed in the forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires and the risk that we may be found liable for damages regardless of fault and the risk that we may not be able to recover any such costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances of permits and other authorizations, renewal of franchises, and other actions by the Comisión Federal de Electricidad, California Public Utilities Commission, U.S. Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the resolution of civil and criminal litigation, regulatory investigations and proceedings and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas; the impact of the novel coronavirus on (i) our ability to commence and complete capital projects and obtain regulatory approvals, (ii) our current and prospective counterparties, customers and partners, and (iii) the stability of the capital markets; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed power generation and from departing retail load resulting from customers transferring to Direct Access, Community Choice Aggregation or other forms of distributed power generation and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on the company's website, www.sempra.com . Investors should not rely unduly on any forward-looking statements. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy

SoCalGas and Frontier Communications Support Diverse Business Enterprises with Business-Building Tips Using Four Virtual Supplier Webinars

LOS ANGELES, April 8, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) and Frontier Communications will collaborate to lead a series of webinars throughout April with tips for diverse business enterprises seeking to earn utility contracts. Representatives from six other California utilities will participate in the webinars, offering suppliers latest updates from the utilities on upcoming sourcing opportunities, support for diverse businesses and available resources to the supplier community. "The ongoing COVID-19 pandemic has severely affected the diverse business community, many of which are small and medium-sized businesses," said Denita Willoughby, SoCalGas Vice President of Supply Management and Logistics. "These virtual seminars bring a new, safe approach to further strengthen communications with suppliers and help them stay profitable." "Together with SoCalGas and other utility partners, Frontier Communications recognizes the importance of critical infrastructure industries and essential services like ours," said Joe Gamble, Senior Vice President, Frontier Communications. "These virtual forums will help our diverse suppliers identify growth opportunities and enable Frontier to adapt supply chain requirements to keep our customers and the communities we serve connected." Suppliers interested in participating are asked to RSVP and submit any questions prior to each virtual session to supplierdiversity@ftr.com. The sponsors anticipate participants will include representatives of diverse businesses from construction, engineering, facilities, janitorial, paving, consulting and professional services, along with vendors of a broad range of expendable and reusable goods. The virtual series will be hosted by Dawn Gilbert of Frontier Communications and Joe Chow of SoCalGas starting on April 9 th, followed by sessions on April 16 th and April 23 rd, and concluding on April 30 th. The session times, dates and panelists are the following: Session 1 – April 9 th – 11:00 to 11:45 a.m. Stephanie Green, CPUC Edward Simon, California American Water Lisa Roben, Comcast Jay Wesley, Century Link Session 2 – April 16 th – 11:00 to 11:45 a.m. Drisha Melton, CPUC Holly Joy, Golden State Water Joan Kerr, PG&E Telma Lopez, Southwest Gas Session 3 – April 23 rd – 2:00 to 2:45 p.m. Stephanie Green, CPUC Edward Simon, California American Water Lisa Roben, Comcast Jay Wesley, CenturyLink Session 4 – April 30 th – 11:00 to 11:45 a.m. Drisha Melton, CPUC Holly Joy, Golden State Water Joan Kerr, PG&E Telma Lopez, Southwest Gas About SoCalGasHeadquartered in Los Angeles, SoCalGas ® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. About Frontier CommunicationsFrontier Communications Corporation offers a variety of services to residential and business customers over its fiber-optic and copper networks in 29 states, including video, high-speed internet, advanced voice, and Frontier Secure ® digital protection solutions. SOURCE Southern California Gas Company

TRAFFIC ADVISORY: SoCalGas to Begin Pipeline Replacement Project Along Compton Boulevard between Bullis Road and Atlantic Avenue in Compton Beginning April 7

WHAT: Starting Tuesday, April 7, SoCalGas will be performing pipeline replacement and maintenance work on Compton Boulevard between Bullis Road and Atlantic Avenue in Compton. Crews are expected to work on the natural gas pipeline through January 2021. To perform the work safely, closures of one west and eastbound lane on Compton Boulevard will take place from 8 a.m. to 3:30 p.m., Monday to Friday. Traffic control cones, message boards and flagmen will help direct the flow of traffic. No interruption to natural gas service is anticipated. Per the Governor's most recent ‘stay-at-home’ order, those deemed as providing essential services are exempt from the ‘stay at home’ order in recognition of the importance of these sectors to the health and well-being of Californians. The state order, as well as federal policy directive, identifies our business as a critical energy infrastructure sector and the continuing work of SoCalGas is essential to the safety and reliability of our natural gas system. So that we continue to provide safe and reliable energy service through this crisis and beyond, SoCalGas will continue to perform work needed to maintain our infrastructure. SoCalGas’ crews are practicing the Centers for Disease Control and Prevention (CDC) social distancing guidelines and are briefed daily on COVID-10 safety. WHERE: Compton Boulevard between Bullis Road and Atlantic Avenue, as shown in this link. WHEN: Lanes will be closed from 8 a.m. to 3:30 p.m., Monday through Friday, through January 2021 beginning on April 7, weather and other conditions permitting. PUBLIC CONTACT: Customers with questions or concerns about the construction work may call SoCalGas’ Customer Contact Center 24-hours a day, seven days a week at 800-427-2200. Our top priorities are to work safely and to provide the communities we serve with safe and reliable natural gas service.

SoCalGas Launches "SoCalGas CAREs" Campaign to Bring Awareness to CARE Assistance Program for Customers Facing Financial Hardship due to COVID-19

LOS ANGELES, April 6, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today launched a campaign titled, "SoCalGas CAREs" for customers whose income may have recently changed due to COVID-19 or other reasons. The campaign aims to let customers know of their eligibility to qualify for SoCalGas' assistance program, California Alternate Rates for Energy or CARE, saving them 20 percent on their monthly natural gas bills. Over the next several weeks, SoCalGas will begin running both social media and television ads promoting the "SoCalGas CAREs" campaign. "SoCalGas is committed to assisting the communities we serve during this challenging period," said Jeff Walker, Vice President of Customer Solutions at SoCalGas. "We recognize that many families are facing unexpected hardships such as job and income loss right now and we want to remind them that SoCalGas' assistance programs like CARE can help." The CARE program aids people in paying their utility bills by providing a 20 percent discount on monthly natural gas bills. Customers who have become recently unemployed or who are currently facing financial hardship due to the coronavirus pandemic or for other reasons are encouraged to visit socalgas.com/care, complete the quick online application and find out instantly if they qualify. The CARE online application is available in English, Spanish, Chinese, Korean and Vietnamese. Other customer assistance programs SoCalGas offers include: Gas Assistance Fund If you or someone you know is having difficulty paying your gas bill, the Gas Assistance Fund (GAF) may be able to provide you with a one-time grant for the amount of the gas bill, not to exceed $100.00. The Gas Assistance Fund is a joint effort of SoCalGas and United Way of Greater Los Angeles. They work with non-profit partner organizations throughout our service territory to administer the program. You may qualify for the Gas Assistance Fund based on your yearly household income. Medical Baseline Allowance The Medical Baseline Allowance program provides additional natural gas at the lowest baseline rate for individuals with a serious health condition. You may qualify for the Medical Baseline Allowance if a full-time member of your household: Has a life-threatening illness or a compromised immune system Is seriously disabled Requires more heat in winter due to a serious health condition or to prevent deterioration of the individual's medical condition Eligibility is based on medical condition only, not household income. Please visit socalgas.com/assistance for more information on how to know if you qualify for these programs as well as how to apply. SoCalGas understands this is a challenging time for all and wants to assure customers natural gas service will be there for their communities. SoCalGas will continue to make safety and emergency service appointments, including reports of suspected natural gas leaks, carbon monoxide checks, gas meter turn-ons, natural gas outage and pilot re-lights. And we will continue to perform work needed to safely and reliably maintain infrastructure so we can continue to provide customers with safe and essential energy services. Service disconnections have been suspended until further notice. This means no customer will have their natural gas turned off due to non-payment. SoCalGas has also temporarily waived late fees for small business customers. As a reminder, SoCalGas never charges late fees for residential customers. Additional information about SoCalGas' response to COVID-19 is available here . About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

Sempra Energy's IEnova Unit To Report First-quarter 2020 Earnings April 22

SAN DIEGO, April 1, 2020 /PRNewswire/ -- Sempra Energy's (NYSE: SRE) Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), plans to release its first-quarter 2020 earnings by 6 p.m. ET, April 22, in advance of a conference call with IEnova executives at 11 a.m. ET, April 23. Briefing materials also will be posted by 6 p.m. ET, April 22, on IEnova's website, www.ienova.com.mx. Investors, media, analysts and the public may listen to a live webcast of the conference call on IEnova's website, by clicking on the appropriate audio link. For those unable to obtain access to the live webcast, the conference call will be available on replay a few hours after its conclusion on the company's website, or by dialing 001-855-859-2056 and entering passcode 3487287#. About IEnovaIEnova develops, builds and operates energy infrastructure in Mexico. As of the end of 2019, the company has more than 1,200 employees and approximately $9.6 billion dollars in total assets, making it one of the largest private energy companies in the country. IEnova was the first energy infrastructure company to be listed on the Mexican Stock Exchange. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $65 billion in total assets reported in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 20,000 employees deliver energy with purpose to over 40 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor), and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy

SoCalGas Warns Customers About the Rise of Utility Scams During COVID-19

LOS ANGELES, March 27, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today reminded customers to be on alert for potential scams targeting utility customers during the COVID-19 outbreak. One common scam involves telling customers they must pay their gas bill immediately or their natural gas service will be disconnected. SoCalGas does not call customers seeking payment. Additionally, on March 13 , the utility announced it had suspended service disconnections for customers who are struggling to pay their bills until further notice. This decision was made to support the health, safety and wellness of our customers during this crisis. SoCalGas is providing the following tips on how to recognize and respond to these scams: Be on the lookout for these common scam tactics: Caller ID spoofing with calls that appear to be coming from SoCalGas. The caller may try to sell products, collect personal information, or collect payment on your gas bill. Please note that SoCalGas will never ask for payment through the phone. Phishing emails, texts and social media posts with malicious attachments asking you to send personal information or money to another entity. Utility imposters appearing at your place of residence or business demanding payment. How to protect yourself: Never provide your personal information such as social security numbers, credit card numbers, bank account numbers, or share names and passwords with anyone claiming to be a utility representative. Always ask to see a SoCalGas photo ID badge before letting someone inside your home. All SoCalGas employees on company business are required to carry a badge. Customers are encouraged to verify the employee's uniform and identification. Most of our authorized employees will always be in a uniform with our company logo, carry an official employee badge, and drive a company car. SoCalGas employees will always be happy to wait while the customer confirms their identity. Customers can always check the status of their SoCalGas account or pay their latest bill by logging on to My Account . Customers who have questions about their experience with a SoCalGas representative should immediately contact SoCalGas customer service at 800-427-2200. Our customer service representatives are available 24 hours a day, seven days a week. Visit socalgas.com/scam - alert for additional tips and information about scams. We understand this is a challenging time for us all. Rest assured, your natural gas service will be there for your community. We will continue to make safety and emergency service appointments, including reports of suspected natural gas leaks, carbon monoxide checks, gas meter turn-ons, natural gas outage and pilot re-lights. SoCalGas will also continue work needed to safely and reliably maintain our infrastructure so we can continue to provide you with safe and essential energy services. Additional information about SoCalGas' response to COVID-19 is available here . About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America , delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

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