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Sempra Reports Second-Quarter 2024 Earnings Results

Oncor reaches settlement in principle on ~$3B System Resiliency Plan SAN DIEGO, Aug. 6, 2024 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today reported second-quarter 2024 earnings, prepared in accordance with generally accepted accounting principles (GAAP), of $713 million, or $1.12 per diluted share, compared to second-quarter 2023 GAAP earnings of $603 million, or $0.95 per diluted share. On an adjusted basis, the company's second-quarter 2024 earnings were $567 million, or $0.89 per diluted share, compared to $594 million, or $0.94 per diluted share in second-quarter 2023. "At Sempra, we are pleased with the strength of our financial performance through the first half of the year," said Jeffrey W. Martin, chairman and CEO of Sempra. "Our company is well-positioned for continued growth across each of our business platforms, which are benefitting from ongoing electrification, economic development, and demand for safe, reliable and cleaner energy." Sempra's GAAP earnings for the first six months of 2024 were $1.514 billion, or $2.38 per diluted share, compared with GAAP earnings of $1.572 billion, or $2.49 per diluted share, in the first six months of 2023. Adjusted earnings for the first six months of 2024 were $1.421 billion, or $2.24 per diluted share, compared to $1.516 billion, or $2.40 per diluted share, in the first six months of 2023. 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 second quarter and first six months of 2024 and 2023. (Dollars and shares in millions, except EPS) Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 GAAP Earnings $ 713 $ 603 $ 1,514 $ 1,572 Equity losses from write-off of rate base disallowances resulting from Public Utility Commission of Texas' final order in Oncor Electric Delivery Company LLC's comprehensive base rate review — — — 44 Impact from foreign currency and inflation on monetary positions in Mexico (152) 93 (111) 202 Net unrealized losses (gains) on derivatives 6 (102) 18 (319) Net unrealized losses on contingent interest rate swap related to initial phase of the Port Arthur LNG liquefaction project — — — 17 Adjusted Earnings (1) $ 567 $ 594 $ 1,421 $ 1,516 Diluted Weighted-Average Common Shares Outstanding 636 632 636 632 GAAP EPS $ 1.12 $ 0.95 $ 2.38 $ 2.49 Adjusted EPS (1) $ 0.89 $ 0.94 $ 2.24 $ 2.40 (1) See Table A for information regarding non-GAAP financial measures. Sempra California The focus at the company's California utilities remains on connecting people to safe, reliable and cleaner energy through the expansion and modernization of energy networks. The California Public Utilities Commission continues to review the rate requests of Sempra California's utilities, which focus on delivering cleaner energy, safely and reliably, in alignment with California's public policy goals. The final decision is expected before year-end 2024 with rates retroactively effective to Jan. 1 of this year. In July, San Diego Gas & Electric Co. (SDGE) completed a new Wildfire and Climate Resilience Center, a state-of-the-art facility dedicated to enhancing the company's capabilities in wildfire and climate resilience. The center is one of the most technologically advanced of its kind in the industry and underscores SDGE's position as a leader in climate adaptation and resiliency. Under California's renewable gas procurement standard, known as Senate Bill 1440, the Southern California Gas Co. (SoCalGas) has filed for approval of three renewable natural gas contracts, pending commission review. In July, California celebrated a milestone in its journey to advance a hydrogen economy with the Department of Energy's Office of Clean Energy Demonstrations awarding its first tranche of hydrogen hub funding to the Alliance of Renewable Clean Hydrogen Energy Systems (ARCHES). The plan for the ARCHES hub includes new SoCalGas infrastructure as part of a network of clean, renewable hydrogen production and distribution with the ultimate goal of helping decarbonize hard-to electrify industries like heavy duty trucking, public transportation and port operations. Sempra Texas Yesterday, Oncor Electric Delivery Company LLC (Oncor) successfully reached a settlement in principle regarding the System Resiliency Plan (SRP) originally filed in May. The SRP as filed proposed nearly $3 billion of potential capital investments over a three-year period, and, subject to documentation and approval of the settlement by the Public Utility Commission of Texas, Oncor expects to begin implementing the SRP in the fourth quarter of this year with the related capital being incremental to Oncor's existing capital program. Broad expansion and load growth across the service territory of Oncor continues driving new investment opportunities. In addition to building new energy infrastructure to meet demand related to artificial intelligence and data centers, load growth is also coming from a wide range of industries across the state, including new and expanded commercial and industrial facilities, electrification of oil and gas operations, manufacturing and residential. At the end of second-quarter 2024, Oncor had 814 active generation and large commercial and industrial transmission point-of-interconnection requests in queue, representing a 13% increase as compared to the end of second-quarter 2023 and demonstrating the growing demand for new infrastructure in Oncor's service territory. Oncor placed into service 25 load-serving substation projects and 175 circuit miles of new or upgraded high-voltage transmission lines in second-quarter 2024, outpacing the 9 load-serving substations and 24 circuit miles placed into service in first-quarter 2024. Sempra Infrastructure Strong global demand for cleaner and more secure energy continues to support Sempra Infrastructure's development activities across its liquefied natural gas (LNG), energy networks and low carbon solutions business lines. Port Arthur LNG Phase 1 is under construction while the proposed Phase 2 expansion project is making steady progress. In June, Sempra Infrastructure and a subsidiary of Aramco signed a non-binding heads of agreement contemplating the purchase of 5 million tonnes per annum of LNG and a 25% equity investment in Phase 2, highlighting continued strong interest in the competitive positioning of the company's LNG development projects. Moreover, in July, Sempra Infrastructure took another positive step forward in support of Port Arthur LNG Phase 2 by entering into a fixed-price engineering, procurement and construction contract with Bechtel Energy. The referenced contract with Bechtel provides the opportunity for a continuous construction process from Phase 1 to Phase 2, contributing to the operational benefits and attractive economics of the brownfield expansion. Construction at Energía Costa Azul LNG Phase 1 is approximately 85% complete but in recent months has experienced labor and productivity challenges. Mechanical completion and first LNG are expected to occur in 2025, with timing of commercial operations under the sales and purchase agreements targeted for spring 2026. Earnings Guidance Sempra is updating its full-year 2024 GAAP earnings-per-common share (EPS) guidance range to $4.74 to $5.04 reflecting actual results through the second quarter, affirming its full-year 2024 adjusted EPS guidance range of $4.60 to $4.90 and affirming its full-year 2025 EPS guidance range of $4.90 to $5.25. The company is also affirming its projected long-term EPS growth rate of approximately 6% to 8%. Non-GAAP Financial Measures Non-GAAP financial measures include Sempra's adjusted earnings, adjusted EPS and adjusted EPS guidance range. See Table A for additional information regarding these non-GAAP financial measures. Internet Broadcast Sempra will broadcast a live discussion of its earnings results over the internet today at 12 p.m. ET with the company's senior management. Access is available by logging onto the Investors section of the company's website, sempra.com/investors. The webcast will be available on replay a few hours after its conclusion at sempra.com/investors. About Sempra Sempra (NYSE: SRE) is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America and in The Wall Street Journal's Best Managed Companies. More information about Sempra is available at sempra.com and on social media @Sempra. ### This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service, Public Utility Commission of Texas and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, including risks related to (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, (iv) obtaining third-party consents and approvals and (v) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitration, property disputes and other proceedings, and changes (i) to laws and regulations, including those related to tax and trade policy and the energy industry in Mexico and (ii) due to the results of elections; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of San Diego Gas & Electric Company's (SDG&E) and Southern California Gas Company's (SoCalGas) customer rates and their cost of capital and on SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California, and (iii) with respect to Sempra Infrastructure's business, volatility in foreign currency exchange rates; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, pipeline system or limitations on the withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that Sempra 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 Sempra's website, www.sempra.com . Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. None of the website references in this press release are active hyperlinks, and the information contained on, or that can be accessed through, any such website is not, and shall not be deemed to be, part of this document. SEMPRA Table A CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts; shares in thousands) Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 REVENUES Utilities: Natural gas $ 1,494 $ 1,660 $ 3,603 $ 6,072 Electric 1,144 1,054 2,200 2,081 Energy-related businesses 373 621 848 1,742 Total revenues 3,011 3,335 6,651 9,895 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (137) (311) (691) (2,994) Cost of electric fuel and purchased power (156) (88) (245) (202) Energy-related businesses cost of sales (54) (81) (163) (274) Operation and maintenance (1,333) (1,366) (2,545) (2,575) Depreciation and amortization (603) (549) (1,197) (1,088) Franchise fees and other taxes (156) (148) (340) (340) Other income, net 30 31 129 72 Interest income 17 17 30 41 Interest expense (311) (317) (616) (683) Income before income taxes and equity earnings 308 523 1,013 1,852 Income tax benefit (expense) 130 (175) (42) (551) Equity earnings 433 388 781 607 Net income 871 736 1,752 1,908 Earnings attributable to noncontrolling interests (146) (121) (215) (313) Preferred dividends (11) (11) (22) (22) Preferred dividends of subsidiary (1) (1) (1) (1) Earnings attributable to common shares $ 713 $ 603 $ 1,514 $ 1,572 Basic earnings per common share (EPS): Earnings $ 1.13 $ 0.96 $ 2.39 $ 2.50 Weighted-average common shares outstanding 633,450 630,014 633,135 629,926 Diluted EPS: Earnings $ 1.12 $ 0.95 $ 2.38 $ 2.49 Weighted-average common shares outstanding 636,279 632,121 635,817 632,185 SEMPRA Table A (Continued) RECONCILIATION OF SEMPRA ADJUSTED EARNINGS TO SEMPRA GAAP EARNINGS Sempra Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests (NCI)) in 2024 and 2023 as follows: Three months ended June 30, 2024: $152 million impact from foreign currency and inflation on our monetary positions in Mexico $(6) million net unrealized losses on commodity derivatives Three months ended June 30, 2023: $(93) million impact from foreign currency and inflation on our monetary positions in Mexico $102 million net unrealized gains on commodity derivatives Six months ended June 30, 2024: $111 million impact from foreign currency and inflation on our monetary positions in Mexico $(18) million net unrealized losses on commodity derivatives Six months ended June 30, 2023: $(44) million equity losses from investment in Oncor Electric Delivery Holdings Company LLC (Oncor Holdings) related to a write-off of rate base disallowances resulting from the Public Utility Commission of Texas' (PUCT) final order in Oncor Electric Delivery Company LLC's (Oncor) comprehensive base rate review $(202) million impact from foreign currency and inflation on our monetary positions in Mexico $319 million net unrealized gains on commodity derivatives $(17) million net unrealized losses on a contingent interest rate swap related to the initial phase of the Port Arthur LNG liquefaction project (PA LNG Phase 1 project) Sempra Adjusted Earnings and Adjusted EPS are non-GAAP financial measures (GAAP represents generally accepted accounting principles in the United States of America). These non-GAAP financial measures exclude significant items that are generally not related to our ongoing business activities and/or are infrequent in nature. These non-GAAP financial measures also exclude the impact from foreign currency and inflation on our monetary positions in Mexico and net unrealized gains and losses on commodity derivatives, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra'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 GAAP Earnings and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. SEMPRA Table A (Continued) RECONCILIATION OF ADJUSTED EARNINGS TO GAAP EARNINGS AND ADJUSTED EPS TO GAAP EPS (Dollars in millions, except per share amounts; shares in thousands) Pretax amount Income tax benefit (1) Non-controlling interests Earnings Diluted EPS Pretax amount Income tax expense (benefit) (1) Non-controlling interests Earnings Diluted EPS Three months ended June 30, 2024 Three months ended June 30, 2023 Sempra GAAP Earnings and GAAP EPS $ 713 $ 1.12 $ 603 $ 0.95 Excluded items: Impact from foreign currency and inflation on monetary positions in Mexico $ (37) $ (186) $ 71 (152) (0.24) $ 18 $ 117 $ (42) 93 0.15 Net unrealized losses (gains) on commodity derivatives 12 (2) (4) 6 0.01 (200) 41 57 (102) (0.16) Sempra Adjusted Earnings and Adjusted EPS $ 567 $ 0.89 $ 594 $ 0.94 Weighted-average common shares outstanding, diluted 636,279 632,121 Six months ended June 30, 2024 Six months ended June 30, 2023 Sempra GAAP Earnings and GAAP EPS $ 1,514 $ 2.38 $ 1,572 $ 2.49 Excluded items: Equity losses from write-off of rate base disallowances resulting from PUCT's final order in Oncor's comprehensive base rate review $ — $ — $ — — — $ — $ — $ — 44 0.07 Impact from foreign currency and inflation on monetary positions in Mexico (30) (133) 52 (111) (0.17) 43 252 (93) 202 0.32 Net unrealized losses (gains) on commodity derivatives 35 (5) (12) 18 0.03 (628) 126 183 (319) (0.51) Net unrealized losses on contingent interest rate swap related to PA LNG Phase 1 project — — — — — 33 (6) (10) 17 0.03 Sempra Adjusted Earnings and Adjusted EPS $ 1,421 $ 2.24 $ 1,516 $ 2.40 Weighted-average common shares outstanding, diluted 635,817 632,185 (1) Income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. We record equity losses from our investment in Oncor Holdings net of income tax. SEMPRA Table A (Continued) RECONCILIATION OF SEMPRA 2024 ADJUSTED EPS GUIDANCE RANGE TO SEMPRA 2024 GAAP EPS GUIDANCE RANGE Sempra 2024 Adjusted EPS Guidance Range of $4.60 to $4.90 excludes items (after the effects of income taxes and, if applicable, NCI) as follows: $111 million impact from foreign currency and inflation on our monetary positions in Mexico $(18) million net unrealized losses on commodity derivatives Sempra 2024 Adjusted EPS Guidance is a non-GAAP financial measure. This non-GAAP financial measure excludes significant items that are generally not related to our ongoing business activities and/or infrequent in nature. This non-GAAP financial measure also excludes the impact from foreign currency and inflation on our monetary positions in Mexico and net unrealized gains and losses on commodity derivatives for the six months ended June 30, 2024, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods. Sempra 2024 Adjusted EPS Guidance Range should not be considered an alternative to Sempra 2024 GAAP EPS Guidance Range. 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 2024 Adjusted EPS Guidance Range to Sempra 2024 GAAP EPS Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. RECONCILIATION OF ADJUSTED EPS GUIDANCE RANGE TO GAAP EPS GUIDANCE RANGE Full-Year 2024 Sempra GAAP EPS Guidance Range $ 4.74 to $ 5.04 Excluded items: Impact from foreign currency and inflation on monetary positions in Mexico (0.17) (0.17) Net unrealized losses on commodity derivatives 0.03 0.03 Sempra Adjusted EPS Guidance Range $ 4.60 to $ 4.90 Weighted-average common shares outstanding, diluted (millions) 637 SEMPRA Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) June 30, 2024 December 31, 2023 (1) ASSETS Current assets: Cash and cash equivalents $ 228 $ 236 Restricted cash 16 49 Accounts receivable – trade, net 1,552 2,151 Accounts receivable – other, net 441 561 Due from unconsolidated affiliates 7 31 Income taxes receivable 95 94 Inventories 467 482 Prepaid expenses 173 273 Regulatory assets 55 226 Fixed-price contracts and other derivatives 129 122 Greenhouse gas allowances 1,176 1,189 Other current assets 39 56 Total current assets 4,378 5,470 Other assets: Restricted cash 107 104 Regulatory assets 4,011 3,771 Greenhouse gas allowances 769 301 Nuclear decommissioning trusts 882 872 Dedicated assets in support of certain benefit plans 547 549 Deferred income taxes 134 129 Right-of-use assets – operating leases 711 723 Investment in Oncor Holdings 14,809 14,266 Other investments 2,405 2,244 Goodwill 1,602 1,602 Other intangible assets 305 318 Wildfire fund 272 269 Other long-term assets 1,857 1,603 Total other assets 28,411 26,751 Property, plant and equipment, net 57,684 54,960 Total assets $ 90,473 $ 87,181 (1) Derived from audited financial statements. SEMPRA Table B (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) June 30, 2024 December 31, 2023 (1) LIABILITIES AND EQUITY Current liabilities: Short-term debt $ 2,197 $ 2,342 Accounts payable – trade 1,753 2,211 Accounts payable – other 257 224 Due to unconsolidated affiliates 3 5 Dividends and interest payable 738 691 Accrued compensation and benefits 378 526 Regulatory liabilities 125 553 Current portion of long-term debt and finance leases 1,711 975 Greenhouse gas obligations 1,176 1,189 Other current liabilities 1,202 1,374 Total current liabilities 9,540 10,090 Long-term debt and finance leases 28,966 27,759 Deferred credits and other liabilities: Due to unconsolidated affiliates 302 307 Regulatory liabilities 3,959 3,739 Greenhouse gas obligations 334 — Pension and other postretirement benefit plan obligations, net of plan assets 405 407 Deferred income taxes 5,486 5,254 Asset retirement obligations 3,689 3,642 Deferred credits and other 2,373 2,329 Total deferred credits and other liabilities 16,548 15,678 Equity: Sempra shareholders' equity 29,479 28,675 Preferred stock of subsidiary 20 20 Other noncontrolling interests 5,920 4,959 Total equity 35,419 33,654 Total liabilities and equity $ 90,473 $ 87,181 (1) Derived from audited financial statements. SEMPRA Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in millions) Six months ended June 30, 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 1,752 $ 1,908 Adjustments to reconcile net income to net cash provided by operating activities 540 467 Net change in working capital components (99) 1,474 Distributions from investments 405 402 Changes in other noncurrent assets and liabilities, net (78) (514) Net cash provided by operating activities 2,520 3,737 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (3,830) (4,282) Expenditures for investments (387) (184) Purchases of nuclear decommissioning and other trust assets (401) (322) Proceeds from sales of nuclear decommissioning and other trust assets 442 356 Other 8 11 Net cash used in investing activities (4,168) (4,421) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (741) (734) Preferred dividends paid (22) (22) Issuances of common stock 18 — Repurchases of common stock (40) (31) Issuances of debt (maturities greater than 90 days) 3,812 5,614 Payments on debt (maturities greater than 90 days) and finance leases (1,197) (3,392) Decrease in short-term debt, net (817) (388) Advances from unconsolidated affiliates 45 14 Proceeds from sale of noncontrolling interests — 265 Distributions to noncontrolling interests (203) (252) Contributions from noncontrolling interests 786 543 Settlement of cross-currency swaps — (99) Other (23) (61) Net cash provided by financing activities 1,618 1,457 Effect of exchange rate changes on cash, cash equivalents and restricted cash (8) 7 (Decrease) increase in cash, cash equivalents and restricted cash (38) 780 Cash, cash equivalents and restricted cash, January 1 389 462 Cash, cash equivalents and restricted cash, June 30 $ 351 $ 1,242 SEMPRA Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES AND INVESTMENTS (Dollars in millions) Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Earnings (Losses) Attributable to Common Shares Sempra California $ 316 $ 339 $ 898 $ 957 Sempra Texas Utilities 202 160 385 243 Sempra Infrastructure 291 208 422 523 Parent and other (96) (104) (191) (151) Total $ 713 $ 603 $ 1,514 $ 1,572 Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Capital Expenditures and Investments Sempra California $ 1,069 $ 1,118 $ 2,212 $ 2,200 Sempra Texas Utilities 192 93 385 178 Sempra Infrastructure 829 1,340 1,619 2,084 Parent and other 1 — 1 4 Total $ 2,091 $ 2,551 $ 4,217 $ 4,466 SEMPRA Table E OTHER OPERATING STATISTICS Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 UTILITIES Sempra California Gas sales (Bcf) (1) 78 80 200 225 Transportation (Bcf) (1) 120 124 262 273 Total deliveries (Bcf) (1) 198 204 462 498 Total gas customer meters (thousands) 7,098 7,056 Electric sales (millions of kWhs) (1) 661 974 1,596 2,570 Community Choice Aggregation and Direct Access (millions of kWhs) 2,892 2,797 6,061 5,529 Total deliveries (millions of kWhs) (1) 3,553 3,771 7,657 8,099 Total electric customer meters (thousands) 1,525 1,511 Oncor (2) Total deliveries (millions of kWhs) 40,343 38,056 77,656 72,835 Total electric customer meters (thousands) 4,008 3,933 Ecogas México, S. de R.L. de C.V. Natural gas sales (Bcf) 1 1 2 2 Natural gas customer meters (thousands) 160 154 ENERGY-RELATED BUSINESSES Sempra Infrastructure Termoeléctrica de Mexicali (millions of kWhs) 650 348 1,630 917 Wind and solar (millions of kWhs) (1) 888 886 1,607 1,698 (1) Includes intercompany sales. (2) Includes 100% of the electric deliveries and customer meters of Oncor, in which we hold an indirect 80.25% interest through our investment in Oncor Holdings. SEMPRA Table F STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Three months ended June 30, 2024 Sempra California Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 2,625 $ — $ 409 $ (23) $ 3,011 Cost of sales and other expenses (1,568) (2) (270) 4 (1,836) Depreciation and amortization (528) — (73) (2) (603) Other income (expense), net 36 — 2 (8) 30 Income (loss) before interest and tax (1) 565 (2) 68 (29) 602 Net interest (expense) income (204) — 7 (97) (294) Income tax (expense) benefit (44) — 133 41 130 Equity earnings — 204 229 — 433 Earnings attributable to noncontrolling interests — — (146) — (146) Preferred dividends (1) — — (11) (12) Earnings (losses) attributable to common shares $ 316 $ 202 $ 291 $ (96) $ 713 Three months ended June 30, 2023 Sempra California Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 2,700 $ — $ 660 $ (25) $ 3,335 Cost of sales and other expenses (1,735) (2) (270) 13 (1,994) Depreciation and amortization (476) — (70) (3) (549) Other income, net 23 — 3 5 31 Income (loss) before interest and tax (1) 512 (2) 323 (10) 823 Net interest expense (189) — (19) (92) (300) Income tax benefit (expense) 17 — (201) 9 (175) Equity earnings — 162 226 — 388 Earnings attributable to noncontrolling interests — — (121) — (121) Preferred dividends (1) — — (11) (12) Earnings (losses) attributable to common shares $ 339 $ 160 $ 208 $ (104) $ 603 (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. SEMPRA Table F (Continued) STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Six months ended June 30, 2024 Sempra California Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 5,766 $ — $ 928 $ (43) $ 6,651 Cost of sales and other expenses (3,401) (4) (580) 1 (3,984) Depreciation and amortization (1,049) — (145) (3) (1,197) Other income, net 116 — 6 7 129 Income (loss) before interest and tax (1) 1,432 (4) 209 (38) 1,599 Net interest (expense) income (406) — 12 (192) (586) Income tax (expense) benefit (127) — 24 61 (42) Equity earnings — 389 392 — 781 Earnings attributable to noncontrolling interests — — (215) — (215) Preferred dividends (1) — — (22) (23) Earnings (losses) attributable to common shares $ 898 $ 385 $ 422 $ (191) $ 1,514 Six months ended June 30, 2023 Sempra California Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 8,115 $ — $ 1,856 $ (76) $ 9,895 Cost of sales and other expenses (5,801) (3) (625) 44 (6,385) Depreciation and amortization (944) — (139) (5) (1,088) Other income, net 43 — 13 16 72 Income (loss) before interest and tax (1) 1,413 (3) 1,105 (21) 2,494 Net interest expense (371) — (99) (172) (642) Income tax (expense) benefit (84) — (531) 64 (551) Equity earnings — 246 361 — 607 Earnings attributable to noncontrolling interests — — (313) — (313) Preferred dividends (1) — — (22) (23) Earnings (losses) attributable to common shares $ 957 $ 243 $ 523 $ (151) $ 1,572 (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. SOURCE Sempra

SoCalGas Scholarship Program Awards Over $300,000 to College- and Trade School-Bound Students

LOS ANGELES, July 24, 2024 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) announced today that 29 students in Central and Southern California will receive a total of $314,000 from the SoCalGas Scholarship Program to pursue higher education at four-year universities, community colleges, and trade schools. For those attending four-year universities, the $5,000 scholarship can be renewed, providing a total of $20,000 over four years. Students planning to attend community colleges and trade schools will receive $1,000 each toward eligible programs. Additionally, 28 scholarship recipients from 2022 and 2023 will see their $5,000 scholarships renewed. "For over 20 years, SoCalGas has been dedicated to empowering students by providing scholarships that enhance their access to higher education, support their journey to becoming future professionals, and contribute to a diverse pipeline of talent," said Andy Carrasco, vice president of communications, local government, and community affairs for SoCalGas. Since the program's inception in 2001, SoCalGas has awarded over $3.9 million in scholarships to 2,355 students. The SoCalGas Scholarship Program evaluates students based on their academic achievements, community involvement, financial need, and personal statements discussing sustainable energy in California. In collaboration with Scholarship America®, the program is designed to provide direct financial assistance to students in the fields of science, technology, engineering, math, finance, accounting, business administration, plumbing, electrical, HVAC, or welding across central and southern California. "I am honored to have been selected for this prestigious and generous scholarship opportunity from SoCalGas," said Jacqueline Rivas, a graduate from Garfield High School in East Los Angeles. "In the fall, I will attend UCLA, where I will study environmental science and biology. Thank you so much to SoCalGas for granting me this scholarship which will help me through this next chapter of my life and will guide me in the direction towards my dreams! Words cannot express my deepest gratitude and appreciation for this opportunity so I will treasure it with all my heart and will work hard to accomplish my goals for the future with the foundation that SoCalGas set for me!" In June, SoCalGas brought this year's scholarship recipients together for a virtual recognition event where the students learned about SoCalGas' mission, internships, and entry level positions. The students also had the opportunity to network with employees that currently work in their planned field of study. Under the ASPIRE 2045 Sustainability Strategy, SoCalGas plans to invest $50 million over five years into communities the company serves, working to advance racial and gender diversity in the workplace and taking tangible steps towards a carbon neutral future. By providing resources for higher education and career development, SoCalGas aspires to empower communities and help prepare young leaders for success. About SoCalGas SoCalGas is the largest gas distribution utility in the United States serving approximately 21 million consumers across approximately 24,000 square miles of Central and Southern California. SoCalGas' mission is to build the cleanest, safest, most innovative energy infrastructure company in America. SoCalGas aims to deliver affordable, reliable, and increasingly renewable gas service through its pipelines to help advance California's clean energy transition by supporting energy system reliability and resiliency and enabling the integration of renewable resources. SoCalGas is a recognized leader in its industry and community, as demonstrated by being named one of Reuters' Top 100 Innovators Leading the Global Energy Transition and Corporate Member of the Year by the Los Angeles Chamber of Commerce. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These 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 otherwise.  In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations.  Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate and sustainability policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control.  These risks and uncertainties are further discussed in the reports that the company 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 Sempra's website,  www.sempra.com. Investors should not rely unduly on any forward-looking statements.  Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. 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 Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.  SOURCE Southern California Gas Company

Sempra to Report Second-Quarter 2024 Earnings August 6

SAN DIEGO, July 22, 2024 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) plans to release its second-quarter 2024 earnings by 8 a.m. ET on Tuesday, August 6. Jeffrey W. Martin, chairman and CEO, Karen Sedgwick, executive vice president and chief financial officer, and other senior leaders from across the company will host a conference call at 12 p.m. ET on Tuesday, August 6. Investors, media, analysts and the public may listen to a live webcast of the conference call by registering on the Investors section of the company's website and clicking on the appropriate link. An accompanying slide presentation detailing the earnings results will be published to Sempra's Investors site by 8 a.m. ET on Tuesday, August 6. For those unable to obtain access to the live webcast, it will be available on replay a few hours after its conclusion. About Sempra Sempra (NYSE: SRE ) is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California , Texas , Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America and in The Wall Street Journal's Best Managed Companies. More information about Sempra is available at sempra.com and on social media @Sempra . SOURCE Sempra

SoCalGas and EVOLOH Research Project Helps Make Hydrogen and Electrolyzer Production More Affordable

LOS ANGELES and SANTA CLARA, Calif., July 3, 2024 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) and EVOLOH Inc., an anion exchange membrane (AEM) electrolyzer technology developer, have completed a joint research project that resulted in enhancements to the current electrolyzer manufacturing process and technology. Overall, the enhancements achieved in the project could reduce the capital costs of the electrolyzer technology by approximately 25% and could help make the cost of clean renewable hydrogen more affordable. EVOLOH's AEM is made with readily available materials and utilizes a roll-to-roll manufacturing process. This enables a shorter and more reliable supply chain as well as a lower-cost, rapid production process for electrolyzer stack development. The project was able to achieve a 15% increase in hydrogen production efficiency to EVOLOH's Nautilus™ series electrolyzer stack, the core component of an electrolyzer that splits water into hydrogen and oxygen. The increased efficiency also helps extend the equipment lifetime of the stacks compared to traditional techniques. "Meeting the growing demand for clean renewable hydrogen production will require an extraordinary expansion of the current electrolyzer market," said Jawaad Malik, chief strategy and sustainability officer at SoCalGas. "Innovative projects like this can help significantly reduce electrolyzer system costs and production time and enable clean renewable hydrogen production to become more cost competitive with traditional energy sources." SoCalGas' Research, Development, and Demonstration (RD&D) Program helped fund the project and provided technical assistance with EVOLOH's development of high-speed coating methods for AEM electrolyzers. The electrolyzer stacks are designed to be compact, modular and are capable of being scaled up to 24 megawatts each, which makes them well-suited for large-scale industrial applications. "Currently, electrolyzer manufacturing and hydrogen production is expensive. Electrolyzers can be difficult to make, transport and install, and certain current technologies require problematic supply chains," said Dr. Jimmy Rojas, EVOLOH's chief executive officer. "When our technology is produced using renewable energy, hydrogen becomes a versatile, flexible and carbon-free energy platform that opens up new pathways for tackling some of the thorniest climate problems—like heavy transport, steelmaking, fertilizer production and long duration storage." The technology will soon be scaled up at EVOLOH's new manufacturing Center of Excellence in Lowell, Massachusetts with a goal of producing 3.75GW per year by 2025 in electrolyzer stacks and up to 15GW in 2027. EVOLOH will also begin MW-scale testing at its new headquarters in Santa Clara, California later this year. SoCalGas' RD&D Program plays a key role in developing and demonstrating innovative products and technologies that can promote decarbonization across the natural gas value chain and a diversified portfolio of cleaner energy sources. Learn more about how SoCalGas is working to help shape California's 21 st century energy system at socalgas.com/rdd. About SoCalGas SoCalGas is the largest gas distribution utility in the United States serving approximately 21 million consumers across approximately 24,000 square miles of Central and Southern California. SoCalGas' mission is to build the cleanest, safest, most innovative energy infrastructure company in America. SoCalGas aims to deliver affordable, reliable, and increasingly renewable gas service through its pipelines to help advance California's clean energy transition by supporting energy system reliability and resiliency and enabling the integration of renewable resources. SoCalGas is a recognized leader in its industry and community, as demonstrated by being named one of Reuters' Top 100 Innovators Leading the Global Energy Transition and Corporate Member of the Year by the Los Angeles Chamber of Commerce. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. About EVOLOH Founded in 2020, EVOLOH Inc., is revolutionizing the manufacturing of water electrolyzers to make low-cost clean hydrogen production possible at gigawatt scale anywhere in the world. Nautilus™ stacks, the company's patented electrolyzers, leverage advanced liquid alkaline technology to minimize costs and technical risks, while also maximizing manufacturing productivity, durability and efficiency. EVOLOH is backed by Engine Ventures, NextEra Energy Resources, 3M Ventures, and supported by Breakthrough Energy Fellows and others. For more information, visit https://evoloh.com/ This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate and sustainability policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company 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 Sempra's website,  www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. 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 Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Co.

Sempra’s sustainable business practices: Investing in safe and resilient operations

Safety-focus guides Sempra energy networks strategy, serving millions in California and Texas. $630M invested in infrastructure.

Aramco and Sempra announce Heads of Agreement for equity and offtake from Port Arthur LNG Phase 2

DHAHRAN, Saudi Arabia, June 26, 2024 /PRNewswire/ -- Aramco, one of the world's leading integrated energy and chemicals companies, and Sempra (NYSE: SRE) (BMV: SRE), one of North America's leading energy infrastructure companies, today announce that their respective subsidiaries have executed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for liquefied natural gas (LNG) offtake of 5.0 million tonnes per annum (Mtpa) from the Port Arthur LNG Phase 2 expansion project. The HoA further contemplates Aramco's 25% participation in the project-level equity of Phase 2. The parties expect to execute a binding LNG SPA and definitive equity agreements with terms substantially equivalent to those in the HoA, with the SPA and equity agreements subject to a number of conditions. Nasir K. Al-Naimi , Aramco Upstream President, said: "We are excited to take this next step into the LNG sector. As a potential strategic partner in the Port Arthur LNG Phase 2 project, Aramco is well placed to grow its gas portfolio with the aim of meeting the world's growing need for lower-carbon sources of energy. This agreement is a major step in Aramco's strategy to become a leading global LNG player." Jeffrey W. Martin , Sempra Chairman and CEO, said: "The planned expansion of Port Arthur LNG would help facilitate the broad distribution of U.S. natural gas across global energy markets. By expanding the global reach of the Port Arthur LNG facility, we have the opportunity to improve energy security, while providing a lower-carbon alternative to coal for electricity production." Port Arthur LNG is a natural gas liquefaction and export terminal in Southeast Texas with direct access to the Gulf of Mexico. The Port Arthur LNG Phase 1 project is currently under construction and consists of trains 1 and 2, as well as two LNG storage tanks and associated facilities. The Port Arthur LNG Phase 2 project is a competitively positioned expansion of the site to include the addition of up to two trains capable of producing up to 13 Mtpa. At the heart of Sempra Infrastructure's flagship Port Arthur Energy Hub, Port Arthur LNG has potential to expand to a total of eight trains, which would position it as one of the world's most significant LNG export facilities. The facility is expected to play an important role in enhancing global energy security and resilience. Moreover, Sempra Infrastructure is actively advancing infrastructure projects within the Port Arthur Energy Hub, addressing both the rising demand for lower-carbon fuels and carbon intensity reduction. This includes the proposed Titan Carbon Sequestration project. About Aramco As one of the world's leading integrated energy and chemicals companies, our global team is dedicated to creating impact in all that we do, from providing crucial oil supplies to developing new energy technologies. We focus on making our resources more dependable, more sustainable and more useful, helping to promote growth and productivity around the world. www.aramco.com About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America and in The Wall Street Journal's Best Managed Companies. More information about Sempra is available at sempra.com and on social media @Sempra. Aramco Forward-Looking Information The press release contains forward-looking statements. All statements other than statements relating to historical or current facts included in the press release are forward-looking statements. Forward-looking statements give the Company's current expectations and projections relating to its capital expenditures and investments, major projects, upstream and downstream performance, including relative to peers. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target," "believe," "expect," "aim," "intend," "may," "anticipate," "estimate," "plan," "project," "can have," "likely," "should," "could," and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the Company's actual results, performance or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward-looking statements, including the following factors: global supply, demand and price fluctuations of oil, gas and petrochemicals; global economic conditions; competition in the industries in which Saudi Aramco operates; climate change concerns, weather conditions and related impacts on the global demand for hydrocarbons and hydrocarbon-based products; risks related to Saudi Aramco's ability to successfully meet its ESG targets, including its failure to fully meet its GHG emissions reduction targets by 2050; conditions affecting the transportation of products; operational risk and hazards common in the oil and gas, refining and petrochemicals industries; the cyclical nature of the oil and gas, refining and petrochemicals industries; political and social instability and unrest and actual or potential armed conflicts in the MENA region and other areas; natural disasters and public health pandemics or epidemics; the management of Saudi Aramco's growth; the management of the Company's subsidiaries, joint operations, joint ventures, associates and entities in which it holds a minority interest; Saudi Aramco's exposure to inflation, interest rate risk and foreign exchange risk; risks related to operating in a regulated industry and changes to oil, gas, environmental or other regulations that impact the industries in which Saudi Aramco operates; legal proceedings, international trade matters, and other disputes or agreements; and other risks and uncertainties that could cause actual results to differ from the forward-looking statements in this press release, as set forth in the Company's latest periodic reports filed with the Saudi Stock Exchange. For additional information on the potential risks and uncertainties that could cause actual results to differ from the results predicted please see the Company's latest periodic reports filed with the Saudi Stock Exchange. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this press release and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the press release, including any financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on the forward-looking statements. Sempra Forward-Looking Information This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, including risks related to (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, (iv) obtaining third-party consents and approvals, and (v) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to tax and trade policy and the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of San Diego Gas & Electric Company's (SDG&E) and Southern California Gas Company's (SoCalGas) customer rates and their cost of capital and on SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California, and (iii) with respect to Sempra Infrastructure's business, volatility in foreign currency exchange rates; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to relevant emerging and early-stage technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, pipeline system or limitations on the withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that Sempra 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 Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Sempra

High-performance culture drives innovation and accolades for Sempra

Newsweek, Fortune, CNBC, and Forbes award Sempra for 25-year high-performance workplace promoting sustainability, and energy transition.

Sempra Foundation to Support New Mexico Communities Impacted by Wildfires

SAN DIEGO, June 21, 2024 /PRNewswire/ -- The Sempra Foundation, founded and solely funded by Sempra (NYSE: SRE) (BMV: SRE), today announced a charitable contribution to the American Red Cross to support the distribution of critical resources and services to those impacted by the South Fork and Salt fires in southern New Mexico. "As part of its mission, the Sempra Foundation aims to improve community resilience in the face of increasing severe weather events," said Lisa Larroque Alexander, chair of the Sempra Foundation board of directors. "We are proud to support the Red Cross in delivering critical supplies to affected communities in New Mexico so they can recover and thrive." The Foundation is pledging up to $50,000, which would help support the distribution of much-needed resources to those impacted by the fast-moving fires. Part of the Sempra Foundation's legacy includes responding to disasters such as wildfires, hurricanes and earthquakes. "With its diverse culture, deep heritage and stunning landscapes, New Mexico is truly the land of enchantment," continued Alexander. "Our hearts go out to all the families and businesses that have been impacted." The Red Cross and its partners have opened numerous shelters where affected people have access to meals, health services and relief supplies. Those interested in supporting relief efforts are encouraged to visit redcross.org. About Sempra Foundation Founded by Sempra in 2007, the Sempra Foundation has long been focused on investing its energy and resources into efforts that make a real difference for people when they need it most. It encourages community engagement among the more than 20,000 employees who work for Sempra and its operating companies by matching certain employee contributions of time and money to eligible 501(c)(3) charitable organizations employees choose to support. SOURCE Sempra Foundation

Sempra Appoints Jennifer M. Kirk to Board of Directors

SAN DIEGO, June 20, 2024 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced the appointment of Jennifer M. Kirk to the company's board of directors effective June 20, 2024. Kirk is currently the global controller and chief accounting officer of Medtronic plc (NYSE: MDT) and has deep executive experience in finance, accounting and capital market activities, including more than 20 years in the energy industry. "Bringing new perspectives into the boardroom is a critical component of our effort to support the company's mission to build North America's premier energy infrastructure company," said Jeffrey W. Martin, Sempra chairman and CEO. "Our board of directors embody a diverse set of skills, experiences and viewpoints that help guide Sempra's corporate strategy and overall business success. Jennifer's strong accounting and finance experience, coupled with her understanding of the energy business, will be a great complement to the board as we advance our corporate strategy and oversee financial discipline, risk management and ethical practices." Before joining Medtronic, Kirk, 49, worked at Occidental Petroleum Corporation for more than two decades, serving in roles of increasing responsibility, including senior vice president of integration and value capture, and vice president, controller and principal accounting officer. Kirk serves on the board of directors of Republic Services, where she is chair of the audit committee. She holds a bachelor's degree in economics from UC Santa Barbara and a master's degree in business administration from California State University, Bakersfield. With the appointment of Kirk, Sempra will have 10 directors with three having been newly elected over the past five years, reflecting the company's commitment to periodic board refreshment to ensure fresh and diverse perspectives are present in the boardroom. Kirk will serve on the board's audit committee and the safety, sustainability and technology committee. About Sempra Sempra (NYSE: SRE) is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America and in The Wall Street Journal's Best Managed Companies. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra

SoCalGas Advances Towards Zero-Emissions Fleet with Delivery of New Ford Electric Vans

LOS ANGELES, June 13, 2024 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) added Ford E-Transit electric vans into its fleet, as part of its ASPIRE 2045 sustainability strategy, working towards its goals to replace 50% of its over-the-road fleet 1 with alternative fuel vehicles (AFV) by 2025 and operate a 100% zero-emissions fleet by 2035. The introduction of 21 new Ford E-Transit vans represents a milestone for SoCalGas as the first battery electric vehicles to be integrated into the company's fleet. "The addition of Ford's E-Transit electric vans to our fleet represents a significant achievement in SoCalGas' advancement toward a zero-emissions future," said Sandra Hrna, vice president, supply chain and operations support at SoCalGas. "By investing in technologies powered by electricity, hydrogen or renewable natural gas, we are advancing our efforts to reduce greenhouse gas emissions (GHG) and accelerate decarbonization in a sector that has historically been a major contributor to GHG emissions." At the close of 2023, 38% of SoCalGas' over-the-road fleet was powered by low- and zero-emissions energy sources. SoCalGas' current over-the-road fleet vehicles include 700 RNG Ford F-250 service pickup trucks and 50 Toyota Mirai hydrogen fuel cell electric vehicles (HFCEV). "I applaud SoCalGas on its efforts to accelerate the transition of its truck fleet to zero-emissions," said Wayne Nastri, South Coast Air Quality Management District executive officer. "These trucks reduce smog-forming emissions making it easier for us to breathe and they also reduce greenhouse gas emissions thereby helping our climate." SoCalGas aims to advance sustainable transportation solutions and actively collaborates with automakers to develop innovative low- and zero-emissions options to help support California's climate goals. SoCalGas and Ford are developing a hydrogen fuel cell F-550 prototype with the Department of Energy (DOE) and, in 2025, plan to demonstrate its performance in real world conditions in an effort to help reduce GHG and nitrogen oxide emissions in medium- and heavy-duty commercial vehicles. Ford's light-duty electric vans have a range of up to 126 miles and are being used by employees to service SoCalGas' industrial and commercial customers. "E-Transit is a great solution for companies to reduce carbon emissions while lowering fleet costs associated with fuel and maintenance," said Ted Haladyna, Ford Pro director of product marketing. "When low- and zero-emission vehicles are supported with the right infrastructure it can be a win-win for business and the planet. Testing new technology with customers early in the development process, like we are doing with SoCalGas on F-550 Super Duty Hydrogen Fuel Cell Electric Truck, is another example of how our work together will bring the alternative fuel industry forward." To support a zero-emissions fleet, SoCalGas is installing EV chargers throughout its territory powered almost exclusively by renewable electricity under Southern California Edison's Green Rate program. SoCalGas recently added EV charging stations at its Compton, Brea and Newberry Spring locations, with plans to extend the network to 1,500 chargers across 65 facility sites over the next two years. SoCalGas is a leader among utilities in its sustainability goals and was among the first and largest natural gas distribution utilities in the United States to announce its aim to achieve net-zero GHG emissions by 2045. SoCalGas was recognized with the Leading Private Fleet Award at the Advanced Clean Transportation Expo in 2022 acknowledging the company's efforts to go above and beyond what is required to achieve sustainability in fleet operations. Learn more about SoCalGas's sustainability efforts at socalgas.com/sustainability. About SoCalGas SoCalGas is the largest gas distribution utility in the United States serving approximately 21 million consumers across approximately 24,000 square miles of Central and Southern California. SoCalGas' mission is to build the cleanest, safest, most innovative energy infrastructure company in America. SoCalGas aims to deliver affordable, reliable, and increasingly renewable gas service through its pipelines to help advance California's clean energy transition by supporting energy system reliability and resiliency and enabling the integration of renewable resources. SoCalGas is a recognized leader in its industry and community, as demonstrated by being named one of Reuters' Top 100 Innovators Leading the Global Energy Transition and Corporate Member of the Year by the Los Angeles Chamber of Commerce. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, including risks related to (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, (iv) obtaining third-party consents and approvals, and (v) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to tax and trade policy and the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of San Diego Gas & Electric Company's (SDG&E) and Southern California Gas Company's (SoCalGas) customer rates and their cost of capital and on SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California, and (iii) with respect to Sempra Infrastructure's business, volatility in foreign currency exchange rates; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to relevant emerging and early-stage technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, pipeline system or limitations on the withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that Sempra 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 Sempra's website, www.sempra.com . Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. _______________________________1 Over-the-road fleet refers to light-, medium-, and/or heavy-duty company fleet vehicles. SOURCE Southern California Gas Co.

SoCalGas Volunteers to Help Sort 1.8 Million Pounds of Food to Help Labor Community Services "Stamp Out Hunger"

LOS ANGELES, June 7, 2024 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) will help Labor Community Services (LCS) by bringing 100 volunteers to help sort over 1.8 million pounds of food donations collected through the 32 nd Annual National Association of Letter Carriers' (NALC) "Stamp Out Hunger" Food Drive. The company will also present a $25,000 donation to LCS for groceries, which could aid approximately 1,000 families facing food insecurity for up to five days. "Food banks receive the most food donations around Thanksgiving and Christmas. The NALC 'Stamp Out Hunger' food drive was initially started in May to ensure that local food banks have enough stock to meet demand in the spring and summer months when school breakfast and lunch programs are typically unavailable," said Yvonne Wheeler, president of the LA County Federation of Labor, AFL-CIO. "The foundation of the labor movement is solidarity, and it is thanks to NALC Branch 24, Labor Community Services, SoCalGas, and all the volunteers, that 1.8 million pounds of food will now assist our most vulnerable communities across LA County struggling with food insecurity during this poverty crisis." "In the richest nation, there isn't any reason why any family should go to bed hungry tonight. That is why support from community partners like SoCalGas is critical in the fight against food insecurity," said Norma López, executive director of LCS. "As SoCalGas' staff and volunteers help us sort the 1.8 million pounds of food we collected during this year's Stamp Out Hunger Food Drive, we are reminded of the impact that we can make together if we stick with one another so we each have the ability to make a difference in the lives of those who need help to get through the toughest of times." "Labor Community Services and the Los Angeles County Federation of Labor AFL-CIO are dedicated to helping families in need, and SoCalGas is honored to support their efforts to Stamp Out Hunger," said Maryam Brown, president of SoCalGas. "Combatting hunger requires a united community-wide response and we are proud to play a part in that." In Southern California, the "Stamp Out Hunger" Food Drive is conducted through the NALC Branch 24 in collaboration with LCS, and various labor unions affiliated to the AFL-CIO. This year's "Stamp Out Hunger" food drive collaborated with 45 post offices and 51 community partners. For over six decades, LCS, (in collaboration with the AFL-CIO) has been assisting unemployed and underemployed union families in Los Angeles County with groceries during the year via pantries, the "Stamp Out Hunger" Food Drive and holiday toy and food distribution. SoCalGas has supported LCS since 2007, and, in 2023, SoCalGas volunteers sorted 74,000 pounds of food that were distributed to food banks across Los Angeles County to feed approximately 2,900 families. SoCalGas offers programs and services that can help customers manage their natural gas usage and help save energy and money. To see more programs that can help customers save money and energy, visit socalgas.com/Save. As part of SoCalGas' ASPIRE 2045 sustainability strategy, the company plans to invest $50 million into underserved communities over five years, working to advance racial and gender diversity in the workplace and take steps towards a carbon-neutral future. In 2023, SoCalGas contributed $19.2 million in charitable giving, including $15.4 million towards social impact initiatives. Individuals who are interested in helping LCS sort food donations can sign up on its website at lcs-la.org, with volunteer opportunities taking place now through July 1. Media assets here. About SoCalGas Headquartered in Los Angeles, SoCalGas is the largest gas distribution utility in the United States. SoCalGas aims to deliver affordable, reliable, and increasingly renewable gas service to approximately 21 million consumers across approximately 24,000 square miles of Central and Southern California. We believe gas delivered through our pipelines plays a key role in California's clean energy transition by supporting energy system reliability and resiliency and enabling integration of renewable resources. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replace 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. RNG can be made from waste created by landfills and wastewater treatment plants. SoCalGas is also investing in its gas delivery infrastructure while working to keep bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on X (formerly Twitter) (@SoCalGas), Instagram (@SoCalGas) and Facebook. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate and sustainability policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company 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 Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. 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 Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.  SOURCE Southern California Gas Co.

SoCalGas Declares Preferred Dividends

LOS ANGELES, May 30, 2024 /PRNewswire/ -- The board of directors of Southern California Gas Company (SoCalGas) has declared regular quarterly dividends for the preferred series stock of the company as follows: SoCalGas: Preferred Stock $0.375 per share Preferred Stock, Series A $0.375 per share The dividends are payable on July 15, 2024, to shareholders of record on June 10, 2024. About SoCalGas Headquartered in Los Angeles, SoCalGas is the largest gas distribution utility in the United States. SoCalGas aims to deliver affordable, reliable, and increasingly renewable gas service to approximately 21 million consumers across approximately 24,000 square miles of Central and Southern California. We believe gas delivered through our pipelines plays a key role in California's clean energy transition by supporting energy system reliability and resiliency and enabling integration of renewable resources. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replace 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. RNG can be made from waste created by landfills and wastewater treatment plants. SoCalGas is also investing in its gas delivery infrastructure while working to keep bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on X (formerly Twitter) (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

SoCalGas Receives Organizational Leadership Award from The Climate Registry for its ASPIRE 2045 Sustainability Strategy

The utility is being recognized not only for its own emissions reduction goals, but also for exemplifying leadership in its internal response to climate change and the engagement of its peers, partners, and supply chain. LOS ANGELES, May 23, 2024 /PRNewswire/ -- Southern California Gas Company (SoCalGas) today announced that it has received the prestigious "Organizational Leadership Award" from The Climate Registry (TCR) at the Climate Leadership Conference in Cleveland, Ohio. The award recognizes the utility's ASPIRE 2045 sustainability strategy and leadership in establishing bold goals for reducing greenhouse gas (GHG) emissions and addressing climate change. The Climate Leadership Awards is a national awards program that recognizes the exemplary leadership of influential organizations that are guiding the way in the management and reduction of GHG emissions in their operations and supply chains as well as integrating sustainability and climate resilience initiatives. The Organizational Leadership Award highlights exceptional commitment, initiatives, performance, and outcomes focused on GHG emissions reduction. The Award highlights exceptional commitment, initiatives, performance, and outcomes focused on GHG emissions reduction. "SoCalGas is honored to be recognized by The Climate Registry," said Jawaad Malik, Chief Strategy and Sustainability Officer at SoCalGas. "As California navigates the opportunities and challenges of its clean energy transition, SoCalGas is proud to help advance the state's climate goals through innovation, decarbonization, and collaboration. Together we can achieve meaningful and lasting change that benefits the environment, community, and economy." SoCalGas' ASPIRE 2045 sustainability strategy provides the utility with a framework to accomplish several milestones, including surpassing California's goal of reducing fugitive and vented methane emissions by 20% from a 2015 baseline by 2025, several years ahead of schedule, and nearing the state's goal of a 40% reduction by 2030. 1 SoCalGas has also converted 38% of its over-the-road fleet vehicles 2 to alternative fuel vehicles, with an aim of achieving 50% alternative fuel vehicles by 2025, and a 100% zero emissions vehicle fleet by 2035. The utility continues to make advancements in decarbonizing the fuel it transports, delivering approximately 5% renewable natural gas to its core customers 3 in 2023, with a goal of 20% by 2030. "SoCalGas exemplifies leadership in sustainability with their impressive achievements in methane emissions reduction, energy efficiency programs, renewable natural gas initiatives, clean fleet management, and groundbreaking carbon management projects," said Amy Holm, Executive Director at TCR. "By committing to measurable and transparent efforts to reduce greenhouse gas emissions, SoCalGas sets a positive example for the industry and The Climate Registry applauds their efforts that can help serve as a model for industry peers both domestically and globally." SoCalGas was also recently honored with the top "Business Transformation Award" from Reuters Events for establishing transformative sustainability priorities that have the potential to create impact at scale in their sector and beyond. One such transformative effort, SoCalGas' [H2] Innovation Experience, a clean hydrogen microgrid demonstration project, has been named a World-Changing Idea by Fast Company and was also awarded the U.S. Green Building Council of L.A.'s Sustainable Innovation Award. Learn more about SoCalGas's sustainability efforts at https://www.socalgas.com/sustainability. About SoCalGas Headquartered in Los Angeles, SoCalGas is the largest gas distribution utility in the United States. SoCalGas aims to deliver affordable, reliable, and increasingly renewable gas service to approximately 21 million consumers across approximately 24,000 square miles of Central and Southern California. We believe gas delivered through our pipelines plays a key role in California's clean energy transition by supporting energy system reliability and resiliency and enabling integration of renewable resources.  SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replace 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. RNG can be made from waste created by landfills and wastewater treatment plants. SoCalGas is also investing in its gas delivery infrastructure while working to keep bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego.  For more information visit socalgas.com/newsroom or connect with SoCalGas on X (formerly Twitter) (@SoCalGas), Instagram (@SoCalGas) and Facebook. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate and sustainability policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company 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 Sempra's website,  www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. 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 Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. 1 Per CPUC rulemaking 15-01-008, thresholds for fugitive and vented methane emissions reductions vary by classification tier, which are based on 2015 emissions percentages. As a class A utility, SoCalGas has specific mandated reduction targets. 2 Over-the-road fleet refers to light-, medium-, and/or heavy-duty company fleet vehicles. 3 Renewable Gas Procurement Standard is a mandatory RNG procurement program on behalf of core customers pursuant to SB 1440. Core customers are customers receiving "core service" as defined in SoCalGas' Tariff Rule No.23. SOURCE Southern California Gas Company

Nonprofit Organizations Can Now Apply for Grants of up to $50,000 to Further Climate Solutions through the SoCal Climate Champions Grant Program

SoCalGas will award nonprofit organizations across the utility's service area with grants for projects, programs, and research that encourage and foster clean, safe, and innovative solutions toward a clean energy future. LOS ANGELES, May 15, 2024 /PRNewswire/ -- Southern California Gas Company (SoCalGas) announced today that nonprofit organizations can apply for a grant of up to $50,000 from the utility's SoCal Climate Champions Grant program. The program is looking for innovative solutions that help reduce, mitigate, or sequester greenhouse gas emissions, improve air quality, or organic waste diversion solutions in the SoCalGas service area. Since its inception in 2015, the SoCal Climate Champions Grant program has awarded more than 160 grants totaling near $3 million dollars. "Every community-based organization has an opportunity to contribute to the collective solutions needed to reach a carbon-neutral future," said Jawaad Malik, Chief Strategy and Sustainability Officer at SoCalGas. "Together, through the SoCal Climate Champions Grant program, we can turn ideas into action and help empower these organizations working on innovative climate solutions to drive meaningful change." The application window for this year's SoCal Climate Champions grant opened on April 21 and will close on June 21. Applications will go through a multi-phase judging process and grants will be distributed to the awardees in October. Grant recipients will: Receive an award of up to $50,000 to fund new or on-going efforts that align with the Initiative. Gain recognition in a community of accomplished nonprofit leaders from diverse programs. Share their stories through the grant program. Be offered the aid of SoCalGas volunteers. Past awardees include organizations like the Orange County Conservation Corps (OCCC), whose Green Stormwater Infrastructure (GSI) project provides a water management solution for runoff and urban flooding in Orange County. The program also incorporates workforce education and training to provide opportunities for youth in local communities. "This grant helped to enable our corps members to be better equipped to help manage the impact of weather events on our local communities in Orange County," said OCCC's Chief Executive Officer, Katharyn Muniz. "The Green Stormwater Infrastructure project helps the community adapt to a changing climate through resilient management practices like capturing more runoff during prolonged droughts. These practices can also help reduce the effects of urban flooding following heavy rainfall events." Another past awardee, the Cal Poly Pomona Foundation, utilized the grant for their innovative low-cost energy storage system using byproducts of desalination. More than twenty engineering students assisted in developing a lab-scale thermal energy storage system that uses minerals removed during desalination for thermal energy storage. This low-cost and high-efficiency system could help increase the dispatchability of renewable sources and help provide peak load shifting when the grid experiences periods of strain. "Energy storage systems will be key elements of our future power grid in order for it to be run by renewable sources," said Dr. Reza B. Lakeh, project lead and Associate Professor and Graduate Program Coordinator in the Mechanical Engineering Department at Cal Poly Pomona. "At scale, this project has the potential to enhance the availability of clean and sustainable power and water in California." Under the ASPIRE 2045 Sustainability Strategy, SoCalGas plans to invest $50 million into communities the utility serves over five years, working to advance racial and gender diversity in the workplace, and take tangible steps towards a carbon neutral future. Learn more about the application process at https://socalclimatechampionsgrant.com/application. About SoCalGas    Headquartered in Los Angeles, SoCalGas is the largest gas distribution utility in the United States. SoCalGas aims to deliver affordable, reliable, and increasingly renewable gas service to approximately 21 million consumers across approximately 24,000 square miles of Central and Southern California. We believe gas delivered through our pipelines plays a key role in California's clean energy transition by supporting energy system reliability and resiliency and enabling integration of renewable resources.    SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replace 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. RNG can be made from waste created by landfills and wastewater treatment plants. SoCalGas is also investing in its gas delivery infrastructure while working to keep bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego.    For more information visit socalgas.com/newsroom or connect with SoCalGas on X (formerly Twitter) (@SoCalGas), Instagram (@SoCalGas) and Facebook.     This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate and sustainability policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company 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 Sempra's website,  www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. 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 Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company

Sempra Declares Common Dividend

SAN DIEGO, May 14, 2024 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced that its board of directors has declared a $0.62 per share quarterly dividend on the company's common stock, which is payable July 15, 2024, to common stock shareholders of record at the close of business on June 27, 2024. About Sempra Sempra (NYSE: SRE) is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America and in The Wall Street Journal's Best Managed Companies. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra

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