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Sempra Energy Reports Higher Third-Quarter 2018 Earnings

SAN DIEGO, Nov. 7, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today reported third-quarter 2018 earnings of $274 million, or $0.99 per diluted share, up from $57 million, or $0.22 per diluted share, in the third quarter 2017. On an adjusted basis, Sempra Energy's third-quarter 2018 earnings increased to $339 million, or $1.23 per diluted share, from $265 million, or $1.04 per diluted share, in the third quarter 2017. "The most recent quarter was very strong – credit goes to our employees," said Jeffrey W. Martin, CEO of Sempra Energy. "All of our businesses contributed to our third-quarter operating results. We are building momentum, successfully executing on several major initiatives to advance our strategic vision of becoming North America's premier energy infrastructure company. Our agreement to sell our U.S. solar assets is important. We expect to utilize capital from our solar asset sales to significantly expand our regulated Texas utility platform through Oncor's acquisition of InfraREIT and our acquisition of a 50-percent interest in Sharyland. We also have made significant progress toward our goal of becoming a market leader in North American liquefied natural gas (LNG) exports, recently securing preliminary commercial agreements for development of several LNG export projects." For the first nine months of 2018, Sempra Energy's earnings were $60 million, or $0.22 per diluted share, compared with $757 million, or $2.99 per diluted share, in the first nine months last year. Adjusted earnings for the first nine months of 2018 were $1.07 billion, or $4 per diluted share, compared with $979 million, or $3.87 per diluted share, in the first nine months of 2017. These results reflect certain significant items as described in the following table of GAAP earnings reconciled to adjusted earnings (on an after-tax basis) for the third quarter and first nine months of 2018 and 2017: Three months ended Nine months ended September 30, September 30, (Unaudited; dollars, except EPS, and shares, in millions) 2018 2017 2018 2017 GAAP Earnings (1) $ 274 $ 57 $ 60 $ 757 Impairment of Non-Utility Natural Gas Storage Assets - - 755 - Impairment of U.S. Wind Equity Method Investments - - 145 - Impairment of Investment in RBS Sempra Commodities 65 - 65 - - Impact from the Tax Cuts and Jobs Act of 2017 - - 25 - Impacts Associated with Aliso Canyon Litigation - - 22 - Write-off of Wildfire Regulatory Asset - 208 - 208 Adjustments Related to Termoeléctrica de Mexicali (TdM) - - - 42 Recoveries Related to 2016 Permanent Release of Pipeline Capacity - - - (28) Adjusted Earnings (1) $ 339 $ 265 $ 1,072 $ 979 Diluted weighted-average shares outstanding 276 253 268 253 GAAP Earnings Per Diluted Share (1) $ 0.99 $ 0.22 $ 0.22 $ 2.99 Adjusted Earnings Per Diluted Share (1) $ 1.23 $ 1.04 $ 4.00 $ 3.87 1) Attributable to common shares. Sempra Energy adjusted earnings and adjusted earnings per share are non-GAAP financial measures. See Table A for information regarding non-GAAP financial measures and descriptions of adjustments above. OPERATING HIGHLIGHTS Earlier today, Sempra Energy announced that its IEnova and Sempra LNG & Midstream subsidiaries have signed three Heads of Agreements (HOAs) with affiliates of Total S.A., Mistui & Co., Ltd., and Tokyo Gas Co., Ltd., for the full export capacity of Phase 1 of the Energia Costa Azul (ECA) LNG liquefaction project located in Baja California, Mexico. The HOAs contemplate the parties negotiating and finalizing definitive 20-year LNG sales-and-purchase agreements, with each of the companies purchasing approximately 0.8 million tonnes per annum (Mtpa) of LNG. ECA LNG Phase 1 is expected to include one liquefaction train capable of producing approximately 2.4 Mtpa of LNG. Earlier this week, Sempra Energy announced a Memorandum of Understanding (MOU) with Total S.A. that contemplates Total potentially contracting for up to 9 Mtpa of LNG offtake from Sempra Energy's LNG export development projects, including the approximately 0.8 Mtpa at ECA LNG Phase 1, as described above, and at Cameron LNG Phase 2. On Nov. 2, Sempra Energy announced that Cameron LNG has initiated the commissioning process for the first liquefaction train of Phase 1 of the Louisiana joint-venture export project. Commissioning is the last step before the start-up process, when the liquefaction trains become fully operational and LNG can be exported from the facility. The first three liquefaction trains that comprise Cameron LNG Phase 1 are expected to be producing LNG in 2019. On Oct. 18, Sempra Energy announced that it and Oncor have entered into agreements under which Oncor will acquire 100 percent of the equity interests of InfraREIT, Inc. for $1.275 billion, excluding certain transaction costs, and Sempra Energy will acquire a 50-percent limited-partnership interest in a holding company that will own Sharyland Utilities, LP, for approximately $98 million. Sempra Energy expects to utilize approximately $1.12 billion, excluding certain transaction costs, from the company's pending solar asset sales to help fund the transaction, which is slated for completion in mid-2019, subject to regulatory approvals, lender consents and customary closing conditions. On Sept. 20, Sempra Renewables entered into an agreement to sell all of its U.S. operating solar assets, one U.S. wind generation facility, and its solar and battery storage development projects to a subsidiary of Consolidated Edison for $1.54 billion, subject to regulatory approvals and customary closing conditions. The sales process for the other announced asset sales – U.S. wind and U.S. non-utility natural gas storage assets – is ongoing. Sempra Energy's Mexican subsidiary IEnova continues to expand its liquids business with the recent acquisition of a 51-percent equity interest in the Manzanillo marine terminal development project. IEnova will build the terminal, which is estimated to cost approximately $200 million, of which IEnova's share would be approximately $100 million. The project is expected to commence commercial operations in late 2020 and 50 percent of the terminal's capacity already is contracted to Trafigura Mexico, S.A. de C.V. In recent months, IEnova also announced new capacity agreements for the Baja Refinados and Topolobampo liquids terminals, both of which are now fully contracted. EARNINGS GUIDANCE Today, Sempra Energy reaffirmed its 2018 GAAP earnings-per-share guidance range of $2.83 to $3.44 and 2018 adjusted earnings-per-share guidance range of $5.30 to $5.80. NON-GAAP FINANCIAL MEASURES Non-GAAP financial measures include Sempra Energy's adjusted earnings and adjusted earnings per share for the third-quarter and nine-month periods in 2018 and 2017, as well as the adjusted 2018 earnings-per-share guidance range. Additional information regarding these non-GAAP financial measures is in Table A of the third-quarter financial tables. INTERNET BROADCAST Sempra Energy will webcast a live discussion of its earnings results today at 12 p.m. EST with senior management of the company. Access is available by logging onto the website at www.sempra.com. For those unable to log onto the live webcast, the teleconference will be available on replay a few hours after its conclusion by dialing (888) 203-1112 and entering passcode 9587918. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or when we discuss our guidance, strategy, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts, major acquisitions such as our interest in Oncor, and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments, and (iv) not realizing anticipated benefits; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability; and moves to reduce or eliminate reliance on natural gas; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as where inverse condemnation applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our equity and debt securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; changes in capital markets, energy markets and economic conditions, including the availability of credit and the liquidity of our investments; and volatility in inflation, interest and currency exchange rates and commodity prices and our ability to effectively hedge the risk of such volatility; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation and the potential risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements and commitments, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SEMPRA ENERGY Table A CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three months ended September 30, Nine months ended September 30, (Dollars in millions, except per share amounts) 2018 2017 (1) 2018 2017 (1) (unaudited) REVENUES Utilities $ 2,460 $ 2,277 $ 7,248 $ 7,172 Energy-related businesses 480 402 1,218 1,071 Total revenues 2,940 2,679 8,466 8,243 EXPENSES AND OTHER INCOME Utilities: Cost of electric fuel and purchased power (675) (650) (1,778) (1,730) Cost of natural gas (255) (190) (782) (903) Energy-related businesses: Cost of natural gas, electric fuel and purchased power (119) (97) (257) (226) Other cost of sales (17) (21) (54) (5) Operation and maintenance (819) (759) (2,383) (2,226) Depreciation and amortization (380) (378) (1,158) (1,106) Franchise fees and other taxes (131) (114) (352) (325) Write-off of wildfire regulatory asset — (351) — (351) Impairment losses (4) (1) (1,304) (72) Other income, net 97 40 196 322 Interest income 22 12 76 26 Interest expense (232) (165) (685) (493) Income (loss) before income taxes and equity earnings of unconsolidated subsidiaries 427 5 (15) 1,154 Income tax (expense) benefit (167) 84 127 (378) Equity earnings 74 13 50 26 Net income 334 102 162 802 Earnings attributable to noncontrolling interests (24) (45) (12) (44) Mandatory convertible preferred stock dividends (36) — (89) — Preferred dividends of subsidiary — — (1) (1) Earnings attributable to common shares $ 274 $ 57 $ 60 $ 757 Basic earnings per common share $ 1.00 $ 0.23 $ 0.23 $ 3.01 Weighted-average number of shares outstanding, basic (thousands) 273,944 251,692 265,963 251,425 Diluted earnings per common share $ 0.99 $ 0.22 $ 0.22 $ 2.99 Weighted-average number of shares outstanding, diluted (thousands) 275,907 253,364 267,644 252,987 (1) As adjusted for the retrospective adoption of Accounting Standards Update (ASU) 2017-07 and a reclassification to conform to current year presentation. SEMPRA ENERGY Table A (Continued) RECONCILIATION OF SEMPRA ENERGY ADJUSTED EARNINGS TO SEMPRA ENERGY GAAP EARNINGS (Unaudited) Sempra Energy Adjusted Earnings and Adjusted Earnings Per Common Share exclude items (after the effects of income taxes and, if applicable, noncontrolling interests) in 2018 and 2017 as follows: Three months ended September 30, 2018: $(65) million impairment of RBS Sempra Commodities LLP (RBS Sempra Commodities) equity method investment at Parent and other Three months ended September 30, 2017: $(208) million write-off of wildfire regulatory asset at San Diego Gas & Electric Company (SDG&E) Nine months ended September 30, 2018: $(65) million impairment of RBS Sempra Commodities equity method investment $(755) million impairment of certain non-utility natural gas storage assets in the southeast U.S. at Sempra LNG & Midstream $(145) million other-than-temporary impairment of certain U.S. wind equity method investments at Sempra Renewables $(22) million impacts associated with Aliso Canyon natural gas storage facility litigation at Southern California Gas Company (SoCalGas) $(25) million income tax expense to adjust the Tax Cuts and Jobs Act of 2017 (TCJA) provisional amounts Nine months ended September 30, 2017: $(208) million write-off of wildfire regulatory asset at SDG&E $(47) million impairment of Termoeléctrica de Mexicali (TdM) assets that were held for sale until June 2018 at Sempra Mexico $5 million deferred income tax benefit on the TdM assets that were held for sale $28 million of recoveries related to 2016 permanent release of pipeline capacity at Sempra LNG & Midstream Sempra Energy Adjusted Earnings and Adjusted Earnings Per Common Share are non-GAAP financial measures (GAAP represents accounting principles generally accepted in the United States of America). Because of the significance and/or nature of the excluded items, management believes that these non-GAAP financial measures provide a meaningful comparison of the performance of Sempra Energy's business operations from 2018 to 2017 and to future periods. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below reconciles for historical periods these non-GAAP financial measures to Sempra Energy GAAP Earnings and GAAP Diluted Earnings Per Common Share, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. Pretax amount Income tax (benefit) expense (1) Non- controlling interests Earnings Pretax amount Income tax (benefit) expense (1) Non- controlling interests Earnings (Dollars in millions, except per share amounts) Three months ended September 30, 2018 Three months ended September 30, 2017 Sempra Energy GAAP Earnings $ 274 $ 57 Excluded items: Impairment of investment in RBS Sempra Commodities $ 65 $ — $ — 65 $ — $ — $ — — Write-off of wildfire regulatory asset — — — — 351 (143) — 208 Sempra Energy Adjusted Earnings $ 339 $ 265 Diluted earnings per common share: Sempra Energy GAAP Earnings $ 0.99 $ 0.22 Sempra Energy Adjusted Earnings $ 1.23 $ 1.04 Weighted-average number of shares outstanding, diluted (thousands) 275,907 253,364 Nine months ended September 30, 2018 Nine months ended September 30, 2017 Sempra Energy GAAP Earnings $ 60 $ 757 Excluded items: Impairment of investment in RBS Sempra Commodities $ 65 $ — $ — 65 $ — $ — $ — — Impairment of non-utility natural gas storage assets 1,300 (499) (46) 755 — — — — Impairment of U.S. wind equity method investments 200 (55) — 145 — — — — Impacts associated with Aliso Canyon litigation 1 21 — 22 — — — — Impact from the TCJA — 25 — 25 — — — — Write-off of wildfire regulatory asset — — — — 351 (143) — 208 Impairment of TdM assets held for sale — — — — 71 — (24) 47 Deferred income tax benefit associated with TdM — — — — — (8) 3 (5) Recoveries related to 2016 permanent release of pipeline capacity — — — — (47) 19 — (28) Sempra Energy Adjusted Earnings $ 1,072 $ 979 Diluted earnings per common share: Sempra Energy GAAP Earnings $ 0.22 $ 2.99 Sempra Energy Adjusted Earnings $ 4.00 $ 3.87 Weighted-average number of shares outstanding, diluted (thousands) 267,644 252,987 (1) Except for adjustments that are solely income tax and tax related to outside basis differences, income taxes were primarily calculated based on applicable statutory tax rates. Income taxes associated with TdM were calculated based on the applicable statutory tax rate, including translation from historic to current exchange rates. An income tax benefit of $12 million associated with the 2017 TdM impairment has been fully reserved. SEMPRA ENERGY Table A (Continued) RECONCILIATION OF SEMPRA ENERGY 2018 ADJUSTED EARNINGS-PER-SHARE GUIDANCE RANGE TO SEMPRA ENERGY 2018 GAAP EARNINGS-PER-SHARE GUIDANCE RANGE (Unaudited) Sempra Energy 2018 Adjusted Earnings-Per-Share Guidance Range of $5.30 to $5.80 excludes items (after the effects of income taxes and, if applicable, noncontrolling interests) as follows: $(965) million in impairments of certain assets and equity method investments $(22) million impacts associated with Aliso Canyon natural gas storage facility litigation $(25) million income tax expense to adjust the TCJA provisional amounts $340 million - $370 million estimated gain on sale, net of $128 million - $139 million (1) income tax expense, of the Sempra Renewables operating solar assets, Broken Bow 2 wind generation facility and its solar and battery storage development projects (the Renewables Sale) that is expected to close near the end of 2018 Sempra Energy 2018 Adjusted Earnings-Per-Share Guidance is a non-GAAP financial measure. Because of the significance and/or nature of the excluded items, management believes this non-GAAP financial measure provides additional clarity into the ongoing results of the business and the comparability of such results to prior and future periods and also as a base for projected earnings-per-share compound annual growth rate. Sempra Energy 2018 Adjusted Earnings-Per-Share Guidance should not be considered an alternative to Earnings-Per-Share Guidance determined in accordance with GAAP. The table below reconciles Sempra Energy 2018 Adjusted Earnings-Per-Share Guidance Range to Sempra Energy 2018 GAAP Earnings-Per-Share Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. Full-Year 2018 Sempra Energy GAAP Earnings-Per-Share Guidance Range $ 2.83 to $ 3.44 Excluded items: Impairments of certain assets and equity method investments 3.55 3.55 Impacts associated with Aliso Canyon litigation 0.08 0.08 Impact from the TCJA 0.09 0.09 Estimated gain on the Renewables Sale (1.25) (1.36) Sempra Energy Adjusted Earnings-Per-Share Guidance Range $ 5.30 to $ 5.80 Weighted-average number of shares outstanding, diluted (millions) 272 (1) Income taxes on estimated gain were calculated based on applicable statutory tax rates. SEMPRA ENERGY Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) September 30, 2018 December 31, 2017 (1) (unaudited) Assets Current assets: Cash and cash equivalents $ 212 $ 288 Restricted cash 73 62 Accounts receivable, net 1,663 1,584 Due from unconsolidated affiliates 43 37 Income taxes receivable 99 110 Inventories 345 307 Regulatory assets 92 325 Fixed-price contracts and other derivatives 96 66 Greenhouse gas allowances 339 299 Assets held for sale 1,881 127 Other 202 136 Total current assets 5,045 3,341 Other assets: Restricted cash 3 14 Due from unconsolidated affiliates 682 598 Regulatory assets 1,469 1,517 Nuclear decommissioning trusts 1,042 1,033 Investment in Oncor Holdings 9,553 — Other investments 2,561 2,527 Goodwill 2,363 2,397 Other intangible assets 229 596 Dedicated assets in support of certain benefit plans 443 455 Insurance receivable for Aliso Canyon costs 474 418 Deferred income taxes 116 170 Greenhouse gas allowances 275 93 Sundry 852 792 Total other assets 20,062 10,610 Property, plant and equipment, net 35,498 36,503 Total assets $ 60,605 $ 50,454 (1) Derived from audited financial statements. SEMPRA ENERGY Table B (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) September 30, 2018 December 31, 2017 (1) (unaudited) Liabilities and Equity Current liabilities: Short-term debt $ 2,897 $ 1,540 Accounts payable 1,375 1,523 Due to unconsolidated affiliates 7 7 Dividends and interest payable 495 342 Accrued compensation and benefits 356 439 Regulatory liabilities 284 109 Current portion of long-term debt 1,464 1,427 Fixed-price contracts and other derivatives 63 109 Customer deposits 172 162 Reserve for Aliso Canyon costs 161 84 Greenhouse gas obligations 339 299 Liabilities held for sale 156 49 Other 722 545 Total current liabilities 8,491 6,635 Long-term debt 21,335 16,445 Deferred credits and other liabilities: Customer advances for construction 146 150 Due to unconsolidated affiliates 36 35 Pension and other postretirement benefit plan obligations, net of plan assets 1,052 1,148 Deferred income taxes 2,231 2,767 Deferred investment tax credits 25 28 Regulatory liabilities 3,974 3,922 Asset retirement obligations 2,750 2,732 Fixed-price contracts and other derivatives 235 316 Greenhouse gas obligations 102 — Deferred credits and other 1,117 1,136 Total deferred credits and other liabilities 11,668 12,234 Equity: Sempra Energy shareholders' equity 16,617 12,670 Preferred stock of subsidiary 20 20 Other noncontrolling interests 2,474 2,450 Total equity 19,111 15,140 Total liabilities and equity $ 60,605 $ 50,454 (1) Derived from audited financial statements. SEMPRA ENERGY Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Nine months ended September 30, (Dollars in millions) 2018 2017 (1) (unaudited) Cash Flows from Operating Activities Net income $ 162 $ 802 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 1,158 1,106 Deferred income taxes and investment tax credits (289) 302 Write-off of wildfire regulatory asset — 351 Impairment losses 1,304 72 Equity earnings (50) (26) Fixed-price contracts and other derivatives (44) (142) Other 139 18 Net change in other working capital components 444 229 Insurance receivable for Aliso Canyon costs (56) 64 Changes in other noncurrent assets and liabilities, net (177) (72) Net cash provided by operating activities 2,591 2,704 Cash Flows from Investing Activities Expenditures for property, plant and equipment (2,815) (2,880) Expenditures for investments and acquisitions (9,921) (110) Proceeds from sale of assets 7 12 Distributions from investments 9 25 Purchases of nuclear decommissioning trust assets (703) (1,082) Proceeds from sales of nuclear decommissioning trust assets 703 1,082 Advances to unconsolidated affiliates (84) (321) Repayments of advances to unconsolidated affiliates 71 8 Other 29 6 Net cash used in investing activities (12,704) (3,260) Cash Flows from Financing Activities Common dividends paid (645) (561) Preferred dividends paid (53) — Preferred dividends paid by subsidiary (1) (1) Issuances of mandatory convertible preferred stock, net of $41 in offering costs 2,259 — Issuances of common stock, net of $41 in offering costs in 2018 2,261 37 Repurchases of common stock (20) (15) Issuances of debt (maturities greater than 90 days) 8,628 2,395 Payments on debt (maturities greater than 90 days) (2,967) (1,829) Increase in short-term debt, net 707 475 Proceeds from sales of noncontrolling interest, net of $1 in offering costs 90 — Net distributions to noncontrolling interests (101) (109) Settlement of cross-currency swaps (33) — Other (80) (11) Net cash provided by financing activities 10,045 381 Effect of exchange rate changes on cash, cash equivalents and restricted cash (8) 11 Decrease in cash, cash equivalents and restricted cash (76) (164) Cash, cash equivalents and restricted cash, January 1 364 425 Cash, cash equivalents and restricted cash, September 30 $ 288 $ 261 (1) As adjusted for the retrospective adoption of ASU 2016-15 and ASU 2016-18. SEMPRA ENERGY Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES, INVESTMENTS AND ACQUISITIONS Three months ended September 30, Nine months ended September 30, (Dollars in millions) 2018 2017 2018 2017 (unaudited) Earnings (Losses) SDG&E $ 205 $ (28) $ 521 $ 276 SoCalGas (14) 7 244 268 Sempra Texas Utility 154 — 283 — Sempra South American Utilities 50 42 140 134 Sempra Mexico 44 66 161 105 Sempra Renewables 34 15 (54) 49 Sempra LNG & Midstream 16 (4) (764) 24 Parent and other (215) (41) (471) (99) Total $ 274 $ 57 $ 60 $ 757 Three months ended September 30, Nine months ended September 30, (Dollars in millions) 2018 2017 2018 2017 (unaudited) Capital Expenditures, Investments and Acquisitions SDG&E $ 343 $ 359 $ 1,194 $ 1,122 SoCalGas 344 351 1,127 1,033 Sempra Texas Utility — — 9,278 — Sempra South American Utilities 54 62 161 139 Sempra Mexico 152 38 320 265 Sempra Renewables 9 261 46 361 Sempra LNG & Midstream 65 16 202 53 Parent and other 5 4 408 17 Total $ 972 $ 1,091 $ 12,736 $ 2,990 SEMPRA ENERGY Table E OTHER OPERATING STATISTICS (Unaudited) Three months ended September 30, Nine months ended September 30, UTILITIES 2018 2017 2018 2017 SDG&E and SoCalGas Gas sales (Bcf) (1) 55 56 244 253 Transportation (Bcf) (1) 163 184 447 488 Total deliveries (Bcf) (1) 218 240 691 741 Total gas customer meters (thousands) 6,874 6,835 SDG&E Electric sales (millions of kWhs) (1) 4,493 4,443 11,493 11,772 Direct Access and Community Choice Aggregation (millions of kWhs) 1,009 957 2,680 2,530 Total deliveries (millions of kWhs) (1) 5,502 5,400 14,173 14,302 Total electric customer meters (thousands) 1,456 1,440 Oncor (2) Total deliveries (millions of kWhs) 38,163 — 77,476 — Total electric customer meters (thousands) 3,607 — Ecogas Natural gas sales (Bcf) 1 7 7 22 Natural gas customer meters (thousands) 121 120 Chilquinta Energía Electric sales (millions of kWhs) 701 699 2,209 2,201 Tolling (millions of kWhs) 75 26 218 70 Total deliveries (millions of kWhs) 776 725 2,427 2,271 Electric customer meters (thousands) 718 700 Luz Del Sur Electric sales (millions of kWhs) 1,641 1,647 5,099 5,321 Tolling (millions of kWhs) 595 478 1,736 1,384 Total deliveries (millions of kWhs) 2,236 2,125 6,835 6,705 Electric customer meters (thousands) 1,125 1,093 ENERGY-RELATED BUSINESSES Power generated and sold (millions of kWhs) Sempra Mexico (3) 1,450 1,327 3,846 3,032 Sempra Renewables (4) 1,189 894 3,763 3,100 (1) Includes intercompany sales. (2) Includes 100 percent of the electric deliveries and customer meters of Oncor Electric Delivery Company LLC (Oncor), in which we hold an 80.25-percent interest through our March 2018 acquisition of our equity method investment in Oncor Electric Delivery Holdings Company LLC (Oncor Holdings). Total deliveries for the nine months ended September 30, 2018 only include volumes from the March 9, 2018 acquisition date. (3) Includes power generated and sold at the TdM natural gas-fired power plant and the Ventika wind power generation facilities. Also includes 50 percent of total power generated and sold at the Energía Sierra Juárez wind power generation facility, in which Sempra Energy has a 50-percent ownership interest. Energía Sierra Juárez is not consolidated within Sempra Energy, and the related investment is accounted for under the equity method. (4) Includes 50 percent of total power generated and sold related to solar and wind projects in which Sempra Energy has a 50-percent ownership. These subsidiaries are not consolidated within Sempra Energy, and the related investments are accounted for under the equity method. On June 25, 2018, our board of directors approved a plan to sell all U.S. wind and solar assets and investments. SEMPRA ENERGY Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT Three months ended September 30, 2018 (Dollars in millions) SDG&E SoCalGas Sempra Texas Utility Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating Adjustments, Parent & Other Total Revenues $ 1,299 $ 802 $ — $ 375 $ 410 $ 38 $ 147 $ (131) $ 2,940 Cost of sales and other expenses (825) (656) — (277) (201) (24) (131) 98 (2,016) Depreciation and amortization (174) (141) — (14) (45) — (2) (4) (380) Impairment losses — — — — (4) — — — (4) Other income, net 24 3 — 1 66 — — 3 97 Income (loss) before interest and tax (1) 324 8 — 85 226 14 14 (34) 637 Net interest (expense) income (55) (29) — (4) (13) (3) 7 (113) (210) Income tax (expense) benefit (53) 7 — (23) (126) 2 (6) 32 (167) Equity earnings (losses), net — — 154 — (28) 12 — (64) 74 (Earnings) losses attributable to noncontrolling interests (11) — — (8) (15) 9 1 — (24) Preferred dividends — — — — — — — (36) (36) Earnings (losses) $ 205 $ (14) $ 154 $ 50 $ 44 $ 34 $ 16 $ (215) $ 274 Three months ended September 30, 2017 (Dollars in millions) SDG&E SoCalGas Sempra Texas Utility Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating Adjustments, Parent & Other Total Revenues $ 1,236 $ 684 $ — $ 376 $ 336 $ 26 $ 152 $ (131) $ 2,679 Cost of sales and other expenses (2) (773) (547) — (295) (152) (22) (154) 112 (1,831) Depreciation and amortization (170) (132) — (14) (41) (9) (10) (2) (378) Impairment losses (351) — — — (1) — — — (352) Other income, net (2) 20 13 — 2 3 — 1 1 40 (Loss) income before interest and tax (1)(3) (38) 18 — 69 145 (5) (11) (20) 158 Net interest (expense) income (53) (25) — (4) (14) (2) 5 (60) (153) Income tax benefit (expense) 72 14 — (18) (34) 9 2 39 84 Equity earnings, net (3) — — — 1 2 7 3 — 13 (Earnings) losses attributable to noncontrolling interests (9) — — (6) (33) 6 (3) — (45) (Losses) earnings $ (28) $ 7 $ — $ 42 $ 66 $ 15 $ (4) $ (41) $ 57 (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. (2) As adjusted for the retrospective adoption of ASU 2017-07. (3) As adjusted for a reclassification to conform to current year presentation. SEMPRA ENERGY Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT Nine months ended September 30, 2018 (Dollars in millions) SDG&E SoCalGas Sempra Texas Utility Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating Adjustments, Parent & Other Total Revenues $ 3,405 $ 2,700 $ — $ 1,190 $ 1,028 $ 103 $ 330 $ (290) $ 8,466 Cost of sales and other expenses (2,133) (1,934) — (915) (453) (68) (324) 221 (5,606) Depreciation and amortization (509) (414) — (43) (131) (27) (24) (10) (1,158) Impairment losses — — — — (4) — (1,300) — (1,304) Other income, net 77 49 — 4 64 — — 2 196 Income (loss) before interest and tax (1) 840 401 — 236 504 8 (1,318) (77) 594 Net interest (expense) income (158) (81) — (11) (42) (9) 18 (326) (609) Income tax (expense) benefit (151) (75) — (64) (226) 67 488 88 127 Equity earnings (losses), net — — 283 1 2 (170) 1 (67) 50 (Earnings) losses attributable to noncontrolling interests (10) — — (22) (77) 50 47 — (12) Preferred dividends — (1) — — — — — (89) (90) Earnings (losses) $ 521 $ 244 $ 283 $ 140 $ 161 $ (54) $ (764) $ (471) $ 60 Nine months ended September 30, 2017 (Dollars in millions) SDG&E SoCalGas Sempra Texas Utility Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating Adjustments, Parent & Other Total Revenues $ 3,351 $ 2,695 $ — $ 1,169 $ 873 $ 74 $ 406 $ (325) $ 8,243 Cost of sales and other expenses (2) (2,048) (1,914) — (915) (403) (57) (353) 275 (5,415) Depreciation and amortization (499) (384) — (40) (114) (28) (31) (10) (1,106) Impairment losses (351) — — — (72) — — — (423) Other income, net (2) 61 51 — 7 190 1 2 10 322 Income (loss) before interest and tax (1)(3) 514 448 — 221 474 (10) 24 (50) 1,621 Net interest (expense) income (151) (76) — (13) (61) (7) 14 (173) (467) Income tax (expense) benefit (72) (103) — (57) (278) 25 (17) 124 (378) Equity earnings (losses), net (3) — — — 2 (7) 25 6 — 26 (Earnings) losses attributable to noncontrolling interests (15) — — (19) (23) 16 (3) — (44) Preferred dividends — (1) — — — — — — (1) Earnings (losses) $ 276 $ 268 $ — $ 134 $ 105 $ 49 $ 24 $ (99) $ 757 (1) Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments' performance because it can be

Sempra Energy Units Sign Three Heads Of Agreements With Total S.A., Mitsui & Co., Tokyo Gas Co. For Energía Costa Azul Liquefaction Project

Sempra Energy Units Sign Three Heads Of Agreements With Total S.A., Mitsui & Co., Tokyo Gas Co. For Energía Costa Azul Liquefaction Project First LNG Export Project on Mexico's Pacific Coast Takes Significant Step Toward Full Subscription of Initial Phase SAN DIEGO, Nov. 7, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its subsidiaries Infraestructura Energetica Nova S.A.B. de C.V. (IEnova) (BMV: IENOVA) and Sempra LNG & Midstream have signed three Heads of Agreements (HOAs) with affiliates of Total S.A. (Total), Mitsui & Co., Ltd. (Mitsui) and Tokyo Gas Co., Ltd. (Tokyo Gas) for the full export capacity of Phase 1 of the Energia Costa Azul liquefied natural gas (ECA LNG) project located in Baja California, Mexico. ECA LNG Phase 1 is a single-train liquefaction facility to be located adjacent to the existing LNG receipt terminal and expected to produce approximately 2.4 million tonnes per annum (Mtpa) of LNG for export to global markets. "These three HOAs mark a significant milestone for the development of the ECA liquefaction export-project, supporting Sempra Energy's strategic vision of becoming North America's premier energy infrastructure company," said Joseph A. Householder, president and chief operating officer of Sempra Energy. "We look forward to working with three world-class and well-respected LNG companies to develop a project that should provide low-cost, flexible operations and reliable LNG to the Pacific Basin market and to supply the Baja California peninsula market in Mexico," said Carlos Ruiz Sacristán, CEO of the Sempra North American Infrastructure group and executive chairman of IEnova. "We are pleased to work with Sempra Energy and IEnova to participate in the development of ECA LNG, which will benefit from synergies with existing infrastructure and from a significant shipping cost advantage for our customers in Asia," said Philippe Sauquet, president of gas, renewables and power for Total S.A. "We are pleased to work with Sempra Energy and IEnova for ECA LNG, which is another significant milestone to further strengthen the strategic partnership with Sempra LNG and IEnova in a broad range of business opportunities," said Hirotatsu Fujiwara, executive managing officer, chief operating officer of Energy Business Unit II, Mitsui & Co., Ltd. "Tokyo Gas looks forward to working with the Sempra Energy team to advance the ECA LNG project and to provide the benefits of North American LNG supplies to our customers," said Kentaro Kimoto, managing executive officer, chief executive of the Gas Resources & Energy Production Division of Tokyo Gas. The three HOAs for ECA LNG Phase 1 contemplate the parties negotiating and finalizing definitive 20-year LNG sales-and-purchase agreements. The three companies each will potentially purchase approximately 0.8 Mtpa of LNG from ECA LNG Phase 1. A final investment decision for ECA LNG is targeted in late 2019 with potential first LNG deliveries in 2023. In June, TechnipFMC and Kiewit were selected as the engineering, procurement, construction and commissioning (EPC) contractor for the ECA LNG project, subject to reaching a definitive agreement on the EPC contract. The ECA LNG receipt terminal was the first LNG receipt terminal constructed on North America's West Coast. Located about 15 miles north of Ensenada, Baja California, it began commercial operations in 2008 and is capable of processing up to 1 billion cubic feet of natural gas per day. In addition to the ECA LNG Phase 1 and 2 export projects, Sempra Energy is developing Port Arthur LNG export project in Texas and Cameron LNG Phase 1 and 2 export projects in Louisiana. Cameron LNG Phase 1 currently is under construction and Total and Mitsui are two of Sempra Energy's joint-venture partners in the project. Development of the ECA LNG Phase 1 and 2, Port Arthur LNG and Cameron LNG Phase 2 export projects are subject to a number of risks and uncertainties, including obtaining binding customer commitments, required regulatory approvals and permits, securing financing, completing the required commercial agreements and other factors, as well as reaching a final investment decision. The ultimate participation of Total, Mitsui and Tokyo Gas in the ECA LNG project remains subject to finalization of definitive agreements, among other factors. About Sempra Energy Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. About IEnova IEnova develops, builds and operates energy infrastructure in Mexico. As of the end of 2017, the company has invested more than US$7.6 billion in operating assets and projects under construction in Mexico, making it one of the largest private energy companies in the country. IEnova is the first energy infrastructure company to be listed on the Mexican Stock Exchange. About Total, S.A. With a portfolio of 15.6 million tons managed in 2017, Total is one of the world's leading players in the sector, with solid and diversified positions across the LNG value chain. Through its stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, the United Arab Emirates, the United States, Australia, Angola and Yemen, the Group sells LNG in all global markets. Following the acquisition of Engie's LNG business, Total became the second-largest private global LNG player among the majors, with an overall LNG portfolio of around 40 Mtpa by 2020 and a worldwide market share of 10 percent. LNG development is a key element of the Group strategy, which is strengthening its upstream positions in the major production regions with projects in Russia, the Middle East, the U.S. and Australasia, as well as its downstream positions in all markets. About Mitsui & Co., Ltd. Mitsui & Co., Ltd. is one of the world's most diversified and comprehensive trading, investment and service enterprises. Headquartered in Tokyo, Mitsui maintains a global network of 138 offices in 66 countries and regions and has 472 subsidiaries and associated companies worldwide. (As of March 31, 2018) Visit www.mitsui.com to learn more. About Tokyo Gas Tokyo Gas Co., Ltd is Japan's largest provider of city gas, serving more than 11 million for gas customers, and 1.5 million for electricity customers primarily in the Tokyo metropolitan area and surrounding Kanto region. Tokyo Gas is committed to be a leader in this new era of energy liberalization through our Gas, Power, and Services mission on a Global level while continuing to promote a low-carbon society. Tokyo Gas received Japan's very first LNG cargo in 1969, and 2019 marks its 50th anniversary. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the U.S. Department of Energy, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency and Pipeline and Hazardous Materials Safety Administration, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in obtaining or maintaining permits and other authorizations on a timely basis, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners; the availability of natural gas and liquefied natural gas, and natural gas pipeline and storage capacity; equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases and harmful emissions, and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits) or may be disputed by insurers; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; changes in foreign and domestic trade policies and laws, including border tariffs, revisions to international trade agreements, such as the North American Free Trade Agreement, that make us less competitive or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on Sempra Energy's website at www.sempra.com . Investors should not rely unduly on any forward-looking statements. These forward looking statements speak only as of the date hereof and Sempra Energy or its subsidiaries undertake no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. CONTACT: Media Contact: Paty Ortega Mitchell, Sempra LNG & Midstream, +1- 877-855-7887, +1- 619-696-2525, press@sempraglobal.com; Financial Contact: Patrick Billings, Sempra Energy, +1-877-736-7727, investor@sempra.com

Sempra Energy Units Sign Three Heads Of Agreements With Total S.A., Mitsui & Co., Tokyo Gas Co. For Energía Costa Azul Liquefaction Project

SAN DIEGO, Nov. 7, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its subsidiaries Infraestructura Energetica Nova S.A.B. de C.V. (IEnova) (BMV: IENOVA) and Sempra LNG & Midstream have signed three Heads of Agreements (HOAs) with affiliates of Total S.A. (Total), Mitsui & Co., Ltd. (Mitsui) and Tokyo Gas Co., Ltd. (Tokyo Gas) for the full export capacity of Phase 1 of the Energia Costa Azul liquefied natural gas (ECA LNG) project located in Baja California, Mexico. ECA LNG Phase 1 is a single-train liquefaction facility to be located adjacent to the existing LNG receipt terminal and expected to produce approximately 2.4 million tonnes per annum (Mtpa) of LNG for export to global markets. "These three HOAs mark a significant milestone for the development of the ECA liquefaction export-project, supporting Sempra Energy's strategic vision of becoming North America's premier energy infrastructure company," said Joseph A. Householder, president and chief operating officer of Sempra Energy. "We look forward to working with three world-class and well-respected LNG companies to develop a project that should provide low-cost, flexible operations and reliable LNG to the Pacific Basin market and to supply the Baja California peninsula market in Mexico," said Carlos Ruiz Sacristán, CEO of the Sempra North American Infrastructure group and executive chairman of IEnova. "We are pleased to work with Sempra Energy and IEnova to participate in the development of ECA LNG, which will benefit from synergies with existing infrastructure and from a significant shipping cost advantage for our customers in Asia," said Philippe Sauquet, president of gas, renewables and power for Total S.A. "We are pleased to work with Sempra Energy and IEnova for ECA LNG, which is another significant milestone to further strengthen the strategic partnership with Sempra LNG and IEnova in a broad range of business opportunities," said Hirotatsu Fujiwara, executive managing officer, chief operating officer of Energy Business Unit II, Mitsui & Co., Ltd. "Tokyo Gas looks forward to working with the Sempra Energy team to advance the ECA LNG project and to provide the benefits of North American LNG supplies to our customers," said Kentaro Kimoto, managing executive officer, chief executive of the Gas Resources & Energy Production Division of Tokyo Gas. The three HOAs for ECA LNG Phase 1 contemplate the parties negotiating and finalizing definitive 20-year LNG sales-and-purchase agreements. The three companies each will potentially purchase approximately 0.8 Mtpa of LNG from ECA LNG Phase 1. A final investment decision for ECA LNG is targeted in late 2019 with potential first LNG deliveries in 2023. In June, TechnipFMC and Kiewit were selected as the engineering, procurement, construction and commissioning (EPC) contractor for the ECA LNG project, subject to reaching a definitive agreement on the EPC contract. The ECA LNG receipt terminal was the first LNG receipt terminal constructed on North America's West Coast. Located about 15 miles north of Ensenada, Baja California, it began commercial operations in 2008 and is capable of processing up to 1 billion cubic feet of natural gas per day. In addition to the ECA LNG Phase 1 and 2 export projects, Sempra Energy is developing Port Arthur LNG export project in Texas and Cameron LNG Phase 1 and 2 export projects in Louisiana. Cameron LNG Phase 1 currently is under construction and Total and Mitsui are two of Sempra Energy's joint-venture partners in the project. Development of the ECA LNG Phase 1 and 2, Port Arthur LNG and Cameron LNG Phase 2 export projects are subject to a number of risks and uncertainties, including obtaining binding customer commitments, required regulatory approvals and permits, securing financing, completing the required commercial agreements and other factors, as well as reaching a final investment decision. The ultimate participation of Total, Mitsui and Tokyo Gas in the ECA LNG project remains subject to finalization of definitive agreements, among other factors. About Sempra EnergySempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. About IEnovaIEnova develops, builds and operates energy infrastructure in Mexico. As of the end of 2017, the company has invested more than US$7.6 billion in operating assets and projects under construction in Mexico, making it one of the largest private energy companies in the country. IEnova is the first energy infrastructure company to be listed on the Mexican Stock Exchange. About Total, S.A.With a portfolio of 15.6 million tons managed in 2017, Total is one of the world's leading players in the sector, with solid and diversified positions across the LNG value chain. Through its stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, the United Arab Emirates, the United States, Australia, Angola and Yemen, the Group sells LNG in all global markets. Following the acquisition of Engie's LNG business, Total became the second-largest private global LNG player among the majors, with an overall LNG portfolio of around 40 Mtpa by 2020 and a worldwide market share of 10 percent. LNG development is a key element of the Group strategy, which is strengthening its upstream positions in the major production regions with projects in Russia, the Middle East, the U.S. and Australasia, as well as its downstream positions in all markets. About Mitsui & Co., Ltd.Mitsui & Co., Ltd. is one of the world's most diversified and comprehensive trading, investment and service enterprises. Headquartered in Tokyo, Mitsui maintains a global network of 138 offices in 66 countries and regions and has 472 subsidiaries and associated companies worldwide. (As of March 31, 2018) Visit www.mitsui.com to learn more. About Tokyo GasTokyo Gas Co., Ltd is Japan's largest provider of city gas, serving more than 11 million for gas customers, and 1.5 million for electricity customers primarily in the Tokyo metropolitan area and surrounding Kanto region. Tokyo Gas is committed to be a leader in this new era of energy liberalization through our Gas, Power, and Services mission on a Global level while continuing to promote a low-carbon society. Tokyo Gas received Japan's very first LNG cargo in 1969, and 2019 marks its 50th anniversary. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the U.S. Department of Energy, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency and Pipeline and Hazardous Materials Safety Administration, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in obtaining or maintaining permits and other authorizations on a timely basis, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners; the availability of natural gas and liquefied natural gas, and natural gas pipeline and storage capacity; equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases and harmful emissions, and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits) or may be disputed by insurers; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; changes in foreign and domestic trade policies and laws, including border tariffs, revisions to international trade agreements, such as the North American Free Trade Agreement, that make us less competitive or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on Sempra Energy's website at www.sempra.com . Investors should not rely unduly on any forward-looking statements. These forward looking statements speak only as of the date hereof and Sempra Energy or its subsidiaries undertake no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy

Sempra Energy And Total S.A. Sign Memorandum Of Understanding For Development Of North American LNG Export Projects

SAN DIEGO and PARIS, Nov. 5, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) and Total S.A. (NYSE: TOT) today announced that they have entered into a Memorandum of Understanding (MOU) that provides the framework for cooperation in the development of North American liquefied natural gas (LNG) export projects. The scope of the MOU covers continuing development of the Cameron LNG liquefaction-export project in Louisiana and Energía Costa Azul (ECA) liquefaction-export project in Baja California, Mexico. The MOU between Sempra Energy and Total contemplates Total potentially contracting for approximately up to 9 million tonnes per annum (Mtpa) of LNG offtake across Sempra Energy's LNG export development projects on the U.S. Gulf Coast and West Coast of North America, specifically Cameron LNG Phase 2 and ECA LNG. Total, which already is a partner in the Cameron LNG joint venture with a 16.6-percent stake, also may acquire an equity interest in ECA LNG. "The U.S. is increasing its global leadership position in the production of oil and natural gas," said Jeffrey W. Martin, CEO of Sempra Energy. "In large measure, the next step in fulfilling our country's energy potential is the development of critical export infrastructure for LNG. Sempra Energy has a long-term goal of developing more than 45 Mtpa of LNG export capacity in North America. That is why our relationship with Total is so important. We plan to leverage the competitive strengths of both companies to accelerate development of North American LNG exports to global markets." "This relationship with Sempra Energy will support our goal of building a diverse portfolio of LNG supply options that offers our customers flexibility, reliability and low-cost North American natural gas," said Patrick Pouyanné, chairman and CEO of Total S.A. "We are pleased to collaborate with Sempra Energy and the other Cameron LNG co-owners to extend the Cameron LNG project and to further enhance its competitiveness, but also participate in the development of export capacity on the West Coast of Mexico, which will benefit from synergies with existing infrastructure and from a significant shipping cost advantage for customers in Asia." The $10 billion Phase 1 of the Cameron LNG joint-venture liquefaction-export project includes three liquefaction trains with approximately 14 Mtpa of export capacity under construction in Louisiana. Commissioning of the first train is now under way and all three trains are expected to be producing LNG in 2019. Phase 2 of the Cameron LNG project, previously authorized by the Federal Energy Regulatory Commission and being developed jointly by the Cameron LNG co-owners, encompasses up to two additional liquefaction trains and up to two additional LNG storage tanks with approximately 9 Mtpa of capacity. ECA Phase 1 is a one-train facility with an expected total export capacity of 2.5 Mtpa, utilizing the existing LNG receipt terminal's tanks, loading arms and berth. ECA Phase 2 is expected to have additional export capacity of 12 Mtpa of LNG. Development of LNG export facilities is subject to a number of risks and uncertainties, including obtaining binding customer commitments, required regulatory approvals and permits, securing financing, completing the required commercial agreements and other factors, as well as reaching a final investment decision. The ultimate participation by Total remains subject to finalization of definitive agreements, among other factors. About Sempra EnergyIn addition to the Cameron LNG and ECA LNG export projects, Sempra Energy also is developing the Port Arthur LNG liquefaction-export project in Texas, a facility with two liquefaction trains capable of producing 11 Mtpa of LNG. Sempra Energy owns and operates natural gas and electric distribution utilities and is a major developer of North American energy infrastructure. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. About Total S.A.Total is the second largest publicly traded LNG player in the world and a shareholder in 12 liquefaction facilities that currently generate 25 percent of global LNG output. With a portfolio of 15.6 Mpta of LNG managed in 2017, Total is one of the world's leading players in the sector, with solid and diversified positions across the LNG value chain. Through its stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, the United Arab Emirates, the United States, Australia, Angola and Yemen, the Group sells LNG in all global markets. Following the acquisition of Engie's LNG business, Total became the second-largest private global LNG player among the majors, with an overall LNG portfolio of around 40 Mtpa by 2020 and a worldwide market share of 10 percent. LNG development is a key element of the Group strategy, which is strengthening its upstream positions in the major production regions with projects in Russia, the Middle East, the U.S. and Australasia, as well as its downstream positions in all markets. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the U.S. Department of Energy, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency and Pipeline and Hazardous Materials Safety Administration, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, and (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments; the availability of natural gas and liquefied natural gas, and natural gas pipeline and storage capacity; equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases and harmful emissions, and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits) or may be disputed by insurers; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; changes in foreign and domestic trade policies and laws, including border tariffs, revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on Sempra Energy's website at www.sempra.com . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof and Sempra Energy or its subsidiaries undertake no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy

SoCalGas and United Way Hold Everyone In™ Event to Help End Homelessness

LOS ANGELES, Nov. 2, 2018 — Southern California Gas Co. (SoCalGas) employees at the utility’s Pico Rivera base today built Welcome Home kits for people transitioning out of homelessness and learned more about what it is like to be homeless through virtual reality and role-play activities and by listening to a community member’s personal story at an Everyone In ™ event. Led by United Way of Greater Los Angeles (United Way), the event was the first of its kind to be held at a workplace location. Everyone In ™ is a coalition that focuses on ending homelessness across Los Angeles County by providing critical services to those who need it most and helping transition people experiencing long-term homelessness with short-term and permanent housing solutions. “This was an enlightening and inspiring event for all the SoCalGas employees who participated, and I recommend it to other corporate leaders as a way to bring their teams together to address a critical issue,” said Sharon Tomkins, vice president of customer solutions and strategy at SoCalGas. “SoCalGas is a longtime partner of United Way and supporter of efforts to end homelessness, and I am extremely proud that our employees have continually given their time and money to help this cause.” “We're thrilled to have worked with SoCalGas and the Los Angeles Rams on such a groundbreaking event,” said Elise Buik, President and CEO of United Way of Greater Los Angeles. “One of the top priorities of the Everyone In™ campaign is activating our community members around solutions to end homelessness.” Participants learned more about homelessness through a variety of activities, including a virtual reality experience showing a formerly homeless community member’s journey into supportive housing and a role-play simulation demonstrating the choices homeless people must make every day. They also gained information on how they can help to end homelessness and encourage others to join the effort, and a representative from the Corporation for Supportive Housing shared how homeless assistance programs have helped her. Los Angeles Rams cheerleaders provided additional excitement at the event. SoCalGas employees also put together 50 Welcome Home kits with bedding and kitchen and cleaning supplies for formerly homeless individuals and families transitioning to new homes. Since 2012, SoCalGas has contributed more than $475,000 to United Way for homeless assistance programs, which has helped over 730 homeless individuals obtain housing. The utility has also been the top team fundraiser and has had the most participants of any team for the last five years at HomeWalk 5K, United Way’s annual family run/walk that raises public awareness and funds to help end homelessness in Los Angeles County. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest natural gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable natural gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Natural gas delivered through the company's pipelines also plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas is committed to investing in its natural gas system infrastructure, while keeping bills affordable for our customers. From 2013 through 2017, the company spent nearly $6 billion to upgrade and modernize its natural gas system to enhance safety and reliability. The company is also committed to being a leader in the region's clean energy future, and is working to accelerate the use of renewable natural gas from dairy farms, landfills and wastewater treatment plants and the development of renewable energy storage technologies. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook . # # #

Cameron LNG To Initiate Commissioning Of First Train Of Liquefaction-Export Project

SAN DIEGO, Nov. 2, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that Cameron LNG has initiated the commissioning process for the support facilities and first liquefaction train of Phase 1 of its Hackberry, La., liquefaction-export project. "All major construction activities have been completed to begin the commissioning and start-up process to produce LNG from the first liquefaction train," said Joseph A. Householder, president and chief operating officer of Sempra Energy. "This is a significant milestone for this landmark U.S. energy infrastructure facility – an important step forward in advancing our strategic vision to become North America's premier energy infrastructure company." Phase 1 of the Cameron LNG liquefaction-export project, which includes the first three liquefaction trains, is a $10 billion facility with a projected export capability of 12 million tonnes per annum (Mtpa) of LNG, or approximately 1.7 billion cubic feet per day. All three trains are expected to be producing LNG in 2019. The commissioning process includes testing of all support systems, combustion turbines and compressors, as well as the delivery of feed gas from the transmission pipeline and production of the first LNG. Once all of the steps of the commissioning process are approved by the Federal Energy Regulatory Commission (FERC) and successfully completed for the first liquefaction train, LNG production will start up, and then ramp up to full production for delivery to global markets. Cameron LNG is jointly owned by affiliates of Sempra LNG & Midstream, Total, Mitsui & Co., Ltd., and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK). Sempra Energy indirectly owns 50.2 percent of Cameron LNG. Sempra Energy's share of full run-rate earnings from the first three trains at Cameron LNG are projected to be between $365 million and $425 million annually. Cameron LNG Phase 1 is one of five LNG export projects Sempra Energy is developing in North America. Cameron LNG Phase 2, previously authorized by FERC, encompasses up to two additional liquefaction trains and up to two additional LNG storage tanks. Sempra Energy's other LNG development projects include Port Arthur LNG, Energía Costa Azul (ECA) LNG Phase 1 and ECA LNG Phase 2. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the U.S. Department of Energy, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency and Pipeline and Hazardous Materials Safety Administration, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, and (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments; the availability of natural gas and liquefied natural gas, and natural gas pipeline and storage capacity; equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases and harmful emissions, and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits) or may be disputed by insurers; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; changes in foreign and domestic trade policies and laws, including border tariffs, revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra Energy's website at www.sempra.com. Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof and Sempra Energy or its subsidiaries undertake no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy

Sempra Energy Names Patricia K. Wagner Group President Of U.S. Utilities

SAN DIEGO, Nov. 1, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that Patricia K. Wagner has been promoted to group president of U.S. utilities for the company. Currently chairman and CEO of Southern California Gas Co. (SoCalGas), Wagner will assume her new position Nov. 17, reporting to Joseph A. Householder, president and chief operating officer of Sempra Energy, and continue in her role as chairman of SoCalGas. "We are pleased to elevate Patti Wagner into this broader role overseeing our U.S. utilities," said Householder. "She brings a long track record of leadership success and industry experience. In her new position, Patti will be able to apply her deep and diverse experiences from managing within our utility, infrastructure and corporate organizations." As group president, Wagner will oversee San Diego Gas & Electric (SDG&E), SoCalGas and Sempra Energy's investment in Oncor Electric Delivery Company LLC. J. Bret Lane will remain president and chief operating officer of SoCalGas and continue to report to Wagner. Wagner has served as CEO of SoCalGas, the nation's largest natural gas distribution utility, since 2016 and as chairman of SoCalGas since May 2018. Previously, from 2014 to 2016, she was president and CEO of Sempra U.S. Gas & Power, a predecessor company for Sempra Energy's renewable energy and non-utility natural gas infrastructure businesses. In her 23-year Sempra Energy career, Wagner has held a range of other leadership positions, including: vice president of audit services for Sempra Energy; vice president of accounting and finance for SoCalGas; vice president of information technology for SoCalGas and SDG&E; and vice president of operational excellence for SoCalGas and SDG&E. She also has served in key management roles at SoCalGas and SDG&E in gas distribution operations and customer services. Prior to joining the Sempra Energy companies in 1995, Wagner held management positions at Fluor Daniel, McGaw Laboratories and Allergan Pharmaceuticals. She serves on the board of directors of Apogee Enterprises, Inc. where she is a member of the Compensation and Audit committees. Wagner also is a board member for the Southern California Leadership Council and Cal Poly Pomona College of Engineering's Dean's Leadership Board. Wagner holds a master's degree in business administration from Pepperdine University and a bachelor's degree in chemical engineering from California State Polytechnic University, Pomona. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or when we discuss our guidance, strategy, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts, major acquisitions such as our interest in Oncor, and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments, and (iv) not realizing anticipated benefits; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability; and moves to reduce or eliminate reliance on natural gas; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as where inverse condemnation applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our equity and debt securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; changes in capital markets, energy markets and economic conditions, including the availability of credit and the liquidity of our investments; and volatility in inflation, interest and currency exchange rates and commodity prices and our ability to effectively hedge the risk of such volatility; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation and the potential risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements and commitments, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy

Sempra Energy Names Bethany J. Mayer Executive Vice President Of Corporate Development And Technology

SAN DIEGO, Nov. 1, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that Bethany J. Mayer has been named to the newly created position, executive vice president of corporate development and technology for Sempra Energy. Mayer, currently an executive partner with Siris Capital Group LLC, a New York-based private equity firm, will join Sempra Energy Nov. 26 in her new role, reporting to Jeffrey W. Martin, CEO of Sempra Energy. Mayer served on the Sempra Energy board of directors from February 2017 until Oct. 30, 2018, when she resigned her board position in advance of assuming her new management role with the company. As executive vice president of corporate development and technology, Mayer will lead the company's strategy, corporate development/mergers and acquisitions activity, cybersecurity, digital technology and certain human resources activities. "We are building North America's premier energy infrastructure company and, every day, we are striving to better serve the changing energy needs of more than 40 million consumers worldwide," said Martin. " Bethany Mayer's appointment underscores the increasingly critical role technology plays today and in the future in our business. We are thrilled to have someone of Bethany's caliber join our executive team. She is an innovator with deep technology and business experience, who will provide leadership as we seek new and better ways to serve our customers." Prior to joining Siris Capital Group, Mayer was president and CEO of Ixia, a publicly traded $500 million company and market leader in test, visibility and security solutions. During her tenure at Ixia, Mayer drove the growth of the company in key new markets, culminating in a successful sale of the company to Keysight Technologies Inc. in 2017. She brings more than 25 years of technology experience serving in executive roles in companies both large and small. Prior to Ixia, Mayer was senior vice president and general manager of Hewlett Packard's $2.5 billion networking business unit and Network Functions Virtualization business unit. Previously, Mayer served as senior vice president of marketing and alliances for Blue Coat Systems and held leadership roles at both Cisco Systems and Apple. In addition to serving as a Sempra Energy director, Mayer also holds director positions with Marvell Technology and DataStax Inc. In 2017, Mayer was awarded the Global Leader of the Year Award by Women in IT and was named one of the "Top 50 Most Powerful Women in Technology" in both 2015 and 2016 by The National Diversity Council. In 2015, she was named to The Channel Company's prestigious 2015 CRN® Top 100 list as one of the technology industry's "Top 25 Disruptors" – executives who have made the most significant impact on the technology sector. Mayer holds a bachelor's degree from Santa Clara University and a master's degree in business administration from California State University, Monterey Bay, where she received the Distinguished Alumni award in 2018. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or when we discuss our guidance, strategy, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts, major acquisitions such as our interest in Oncor, and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments, and (iv) not realizing anticipated benefits; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability; and moves to reduce or eliminate reliance on natural gas; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as where inverse condemnation applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our equity and debt securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; changes in capital markets, energy markets and economic conditions, including the availability of credit and the liquidity of our investments; and volatility in inflation, interest and currency exchange rates and commodity prices and our ability to effectively hedge the risk of such volatility; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation and the potential risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements and commitments, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy

SoCalGas Study Offers Lessons in Resiliency Planning to Help Communities and Utilities Prepare for Disasters

LOS ANGELES, Oct. 30, 2018 /PRNewswire/ -- As wildfire season arrives and the U.S. recovers from two Category 4 hurricanes, Southern California Gas Co. (SoCalGas) today released a new study that looks at how utilities and communities across the country can be better prepared for such disasters. The study, conducted for SoCalGas by global consulting firm ICF, investigated damage and disruptions in the energy and transportation sectors caused by four disasters--hurricanes Harvey and Irma, last October's Northern California wildfires, and the December 2017 wildfires and subsequent mudslides in Southern California. The report reveals examples of resilience and best practices by various utilities, drawing from utility and state Energy department reports, interviews recounting first-hand observations, and other sources. The full study is available here. "This study gave us key insights into how we can create a stronger energy system that better protects communities," said Jimmie Cho, SoCalGas senior vice president of customer services and distribution operations. "We hope that sharing the results can help enhance resiliency both in California and across the country. The impact of these disasters makes it clear that it's time for action, and we're proud to play a part in that." "This case study analysis makes clear the importance of gathering information through technologies such as SCADA systems and drone capability, then sharing that data in real-time interaction between utilities and government in a natural disaster," said Don Boland, executive director of the California Utilities Emergency Association. "Utilities, law enforcement, Fire, DOT and emergency responders cannot be siloed. Everyone needs to share information so that all parties know what can be brought to bear in a disaster response." "There are real and growing risks that energy utilities face," said Susan Asam, the project lead and Vice President of Climate Adaptation and Resilience at ICF. "SoCalGas has shown leadership in recognizing the need to better understand these risks, the value of learning from past events, and the importance of sharing best practices widely." The study revealed findings that may be useful for utilities and communities anywhere: Backup generation powered by natural gas pipelines is a crucial component of overall resiliency but is not established in some facilities. During the four disasters, hospitals, nursing homes, grocery stores and other facilities that had backup generation were able to continue effective functioning. Conversely, lack of backup generation resulted in failure of water pumps in some locations, leaving some firefighters without water during the California fires. In addition, lack of generators to power air conditioning caused the death of several seniors due to excessive heat at a nursing home in Florida. SoCalGas and many other utilities offer distributed generation systems for customers. Combined heat and power (CHP) systems, a highly efficient form of distributed generation, can increase resiliency so long as they use generators that can start and operate during grid outages. Because they do not rely on the electric grid, CHP systems can support critical loads when necessary. The U.S. Environmental Protection Agency provides a list of manufacturers, engineers and consultants that can assist communities or critical facilities with putting in a CHP generation system. Natural gas-fired generators can also be fueled by portable natural gas cylinders brought in to evacuation sites away from dangerous areas. Proactive shut-off of both electric and gas utilities can be used effectively to prevent damage, but service restoration for natural gas is particularly time-consuming and expensive. To reduce the impact to gas and electric customers in future disasters, utilities can work to further subdivide their service territories, so that smaller areas are affected when service is intentionally interrupted. For example, SoCalGas installed additional isolation valves when restoring natural gas after the Southern California mudslides, to make it easier to safely isolate sections of the distribution system in the future. Because it is underground, natural gas infrastructure is generally more resilient than above-ground electric power lines. Electric outages due to weather-related impacts on above-ground electricity infrastructure were much more common in the four disasters studied. However, mudslides following California's Thomas fire caused localized impacts to the natural gas pipeline system. Satellite and drone image analysis can pinpoint damage to infrastructure when physical access is limited and speed up response in the time-critical hours following an event. Following the Southern California mudslides, SoCalGas used satellite images to locate exactly where mudflows had occurred and where those locations overlapped with their pipelines. Similarly, drones equipped with methane sensors and high-definition cameras were able to survey for leaks and rapidly assess damage. The latest natural gas technologies, such as automated shut-off valves and advanced meters, can help prevent damage or locate damaged areas. Enhanced cross-training exercises between utilities and emergency response personnel can help communities prepare for successful disaster response. Clear communication and coordination between utilities and first responders is necessary to coordinate access to infrastructure when conditions are unsafe. SoCalGas is using the findings from this study to help enhance resiliency locally. The company will apply lessons learned through its Climate Adaptation and Resiliency Planning Grant Program, which will provide $100,000 in planning grants to two selected municipalities. About SoCalGas Headquartered in Los Angeles, SoCalGas ® is the largest natural gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable natural gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Natural gas delivered through the company's pipelines also plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas is committed to investing in its natural gas system infrastructure, while keeping bills affordable for our customers. From 2013 through 2017, the company spent nearly $6 billion to upgrade and modernize its natural gas system to enhance safety and reliability. The company is also committed to being a leader in the region's clean energy future, and is working to accelerate the use of renewable natural gas from dairy farms, landfills and wastewater treatment plants and the development of renewable energy storage technologies. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

SDG&E Media Statement on City of San Diego CCA Announcement

SAN DIEGO, Oct. 25, 2018 /PRNewswire/ -- Today, the City of San Diego announced its intention to pursue becoming an alternative energy provider by forming a Community Choice Aggregation (CCA) program. In response, San Diego Gas & Electric (SDG&E) issued the following statement: "SDG&E respects the City of San Diego's right to create a procurement program that best fits its needs. SDG&E has a long history of partnership with the City, and is committed to continuing a productive, cooperative relationship. As the City charts this new course for purchasing electricity, SDG&E will help enable the transition. "SDG&E does not anticipate any material impact to its financial results from the City's decision to adopt a CCA program and implement it in the next few years. By law, SDG&E cannot profit from the sale of energy that it has purchased for its customers. The cost of energy contracts is a pure pass-through cost to customers with no markup allowed. "Moreover, the California Public Utilities Commission's recent decision to modify the current exit fee cost allocation mechanisms (PCIA) is designed to minimize the potential for unlawful cost shifts related to past clean energy and systemwide reliability investments that have benefited and continue to support everyone. State law prohibits the shifting of costs from departing customers (those joining alternative energy programs, such as CCAs) to customers who remain with their traditional utility. "All our customers deserve the highest level of service regardless of their commodity supplier. SDG&E will continue to operate a safe and reliable power grid to deliver energy to all customers." SOURCE SDG&E

SoCalGas Announces New Truck Loan Program for Fleets Interested in Switching from Diesel to Natural Gas Trucks

LOS ANGELES, Oct. 24, 2018 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced the launch of the new SoCalGas Truck Loan Program. The program allows qualified fleet owners the opportunity to try out the latest in heavy-duty natural gas truck technology by test driving a 12-Liter near-zero truck. This "try before you buy" program provides fleet owners with the opportunity to haul loads with the new truck for up to two weeks. Operators will experience the similarities between natural gas trucks and diesel trucks with respect to power, drivability, fuel range and fuel availability. Additionally, fleet owners will see the advantages natural gas trucks have over diesel, including lower fuel costs. SoCalGas is working in partnership with the truck's owner, Rush Truck Centers, the only company with a 12-Liter near-zero natural gas truck equipped with a Cummins Westport ISX12N engine and Momentum Fuel system available for rent in Southern California. As part of the rental program, customers will participate in a "pre-rental" and "post-rental" survey of their natural gas vehicle driving experience. The survey will include topics such as truck performance, fueling availability, grants and incentives and purchase decision. "More fleet owners have switched to natural gas trucks over the last few years, due in part to available incentive funding," said Sharon Tomkins, vice president of customer solutions and strategy for SoCalGas. "However, some are unfamiliar with the technology and are hesitant to make the switch. The SoCalGas Truck Loan Program is the perfect way to put natural gas trucks to the test on routes driven every day." "We had the opportunity to be one of the first participants in the Truck Loan Program," said Gordy Reimer, president of Southern Counties Express. "Our drivers were able to successfully test the newest 12-Liter renewable natural gas engine on trade lanes they current operate their own trucks on and discover for themselves the advances in natural gas engine technology." This loan program is just one tool SoCalGas is using to get more drivers behind the wheel of the cleanest heavy-duty truck commercially available. SoCalGas account executives have assisted dozens of fleet owners with incentive funding applications to purchase more than 350 near-zero natural gas trucks and build five new CNG fueling stations since the beginning of the year. Replacing 350 diesel trucks with near-zero natural gas trucks is the equivalent of taking more than 20,000 passenger cars off the road. For more information on the Truck Loan Program or to inquire about upcoming funding programs, please contact Wendell Peoples at WPeoples@semprautilities.com. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest natural gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable natural gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Natural gas delivered through the company's pipelines also plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas is committed to investing in its natural gas system infrastructure, while keeping bills affordable for our customers. From 2013 through 2017, the company spent nearly $6 billion to upgrade and modernize its natural gas system to enhance safety and reliability. The company is also committed to being a leader in the region's clean energy future, and is working to accelerate the use of renewable natural gas from dairy farms, landfills and wastewater treatment plants and the development of renewable energy storage technologies. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

Sempra Energy To Report Third-quarter 2018 Earnings Nov. 7

SAN DIEGO, Oct. 24, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) plans to release its third-quarter 2018 earnings at 7 a.m. EST, Nov. 7. Sempra Energy executives will conduct a conference call at 12 p.m. EST, Nov. 7. Investors, media, analysts and the public may listen to a live webcast of the conference call on the company's website, sempra.com, by clicking on the appropriate audio link. Prior to the conference call, a slide presentation detailing the earnings results also will be posted at 7 a.m. EST, Nov. 7, on Sempra Energy's website. For those unable to obtain access to the live webcast, it will be available on replay a few hours after its conclusion by dialing (888) 203-1112 and entering passcode 9587918 or it can be accessed on the company's website. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. SOURCE Sempra Energy

Sempra Energy Subsidiary IEnova Signs Long-Term Contract For Refined Fuels Terminal In Sinaloa, Mexico

SAN DIEGO, Oct. 23, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), has signed a long-term contract with a subsidiary of Marathon Petroleum Corporation (MPC) for approximately 50 percent of the 1-million-barrel initial capacity of the Topolobampo refined fuels marine terminal in Sinaloa, Mexico. Under the agreement, MPC's subsidiary will have storage capacity of 500,000 barrels of refined fuels that will provide access to new international supplies of fuel to meet the growing demand in the West Coast region of Mexico. Commercial operations of the approximately $150-million marine terminal are expected to commence in late 2020. Last month, IEnova announced it signed a long-term contract with Chevron Combustibles de Mexico S. de R.L. de C.V. for 50 percent of the initial capacity of the terminal. IEnova will be responsible for the development of the liquid fuels project, including obtaining permits, engineering, procurement, construction, financing as well as maintenance and operations. IEnova also announced last month it is constructing a 1-million-barrel liquid fuels project in Baja California. Together, these projects advance IEnova's growth plan to develop and build energy infrastructure to benefit energy consumers in Mexico and support Sempra Energy's strategic vision to become North America's premier energy infrastructure company. IEnova develops, builds and operates energy infrastructure in Mexico. As of the end of 2017, the company had invested more than U.S. $7.6 billion in operating assets and projects under construction in Mexico, making it one of the largest private energy companies in the country. IEnova was the first energy infrastructure company to be listed on the Mexican Stock Exchange. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in timely obtaining or maintaining permits and other authorizations, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners and counterparties; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements or modifications of settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability, any of which may raise our cost of capital and materially impair our ability to finance our operations; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as in cases where the inverse condemnation doctrine applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity, including disruptions caused by failures in the transmission grid, moratoriums or limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; changes in energy markets, volatility in commodity prices and moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases, radioactive materials and harmful emissions, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of insurance, to the extent that such insurance is available or not prohibitively expensive; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our common stock, preferred stock and other securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; capital markets and economic conditions, including the availability of credit and the liquidity of our investments; fluctuations in inflation, interest and currency exchange rates and our ability to effectively hedge the risk of such fluctuations; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacements of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric Company's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation, and the potential risk of nonrecovery for stranded assets and contractual obligations; the ability to realize the anticipated benefits from our investment in Oncor Electric Delivery Holdings Company LLC (Oncor Holdings); Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements, certain reductions in its senior secured credit rating, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov. Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission SOURCE Sempra Energy

SoCalGas' Innovative Natural Gas Capture System Conserves More Than 2.5 Million Cubic Feet of Natural Gas to Date

LOS ANGELES, Oct. 19, 2018 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced the utility had achieved a new milestone with its innovative natural gas capture system, conserving a total of more than 2.5 million cubic feet of natural gas – the equivalent to what more than 12,500 homes use each day on average in the U.S. – since first deploying the technique in August 2016. When crews perform work on a pipeline, some natural gas inside the pipe must be released for safety. Instead of being released into the atmosphere, the natural gas is captured, compressed, and reinjected back into the utility's pipeline system for use by SoCalGas customers. The innovative process reduces emissions and eliminates noise and odor that typically occur in the traditional venting process during pipeline replacement or inspection work. The methane capture technique was one of the best practices included in the utility's Leak Abatement Compliance Plan approved on October 12 by the California Public Utilities Commission (CPUC). Photos from one of the natural gas capture projects are available here. "For more than 25 years, SoCalGas has been working hard to reduce emissions from its operations, and because of many practices, like the gas capture system, we have one of the lowest methane emission rates of any natural gas distribution company in the country," said David Buczkowski, vice president of gas engineering and system integrity for SoCalGas. "We are pleased that the CPUC responded positively to the compliance plan and best practices we submitted earlier this year, and believe the approved plan will assist our efforts to further reduce emissions." The methane capture technique was first trialed through SoCalGas' Pipeline Safety Enhancement Plan (PSEP), a multi-year program that identifies various high pressure pipeline sections throughout SoCalGas' system and schedules them to be pressure-tested or replaced. SoCalGas is a leader in reducing emissions from its system, delivering more than 99.5 percent of the natural gas brought into its pipelines. The utility deploys a suite of advanced technologies to detect and mitigate potential leaks and damage to pipelines, including: Real-time monitoring of transmission pipelines from state-of-the-art Gas Control Center; Fiber optic cables that detect methane leaks and third-party damage to pipelines in real-time; Infrared cameras to check for leaks in newly-installed pipelines; Aerial leak surveys from both aircraft and drones; Infrared "point" sensors that can detect leaks even before smell is detected; In-line inspections tools, or "smart pigs"; External corrosion surveying; and Algorithms that use Advanced Meter system to identify unusual levels of natural gas consumption. In 1993, SoCalGas was one of the first local gas distribution companies to join Environmental Protection Agency's (EPA) Natural Gas STAR Program, an effort by the EPA to promote the development and adoption of technologies and best practices to reduce methane emissions. Since joining STAR, SoCalGas has voluntarily implemented dozens of cost-effective, methane reduction projects that have resulted in the reduction of more than 800,000 metric tons of carbon dioxide equivalent (CO2e). Addressing California's Emissions with Renewable Natural Gas Nationwide, emissions from natural gas pipeline systems, like SoCalGas', represent less than 1 percent of greenhouse gas emissions. Most of California's methane emissions—about 80 percent—come from the agriculture and waste industries. Because of this, SoCalGas has been working to rapidly expand the production and use of renewable natural gas (RNG) in California. Earlier this year, SoCalGas announced that RNG derived from organic waste from sources like dairies, wastewater treatment plants, and landfills was being introduced into the utility's pipeline system. RNG is a carbon-negative fuel produced from waste found at landfills, wastewater treatment plants, and agriculture and dairy farms that can be used in trucks and buses, to generate electricity, fuel heating systems in home and businesses, and for cooking. New research shows that RNG can play an important role in lowering carbon emissions in buildings. The analysis forecasts that replacing roughly 16 percent of the traditional natural gas supply with RNG can achieve greenhouse gas reductions equivalent to converting 100 percent of buildings to electric-only energy by 2030. By using a mix of both in and out of state resources, RNG strategy is three times more cost effective in reducing greenhouse gas emissions than an electrification pathway. SoCalGas recently joined a new international collaboration with Canadian natural gas utility Énergir and French utilities GRDF and GRTgaz aimed at advancing the research and development of renewable natural gas and renewable energy storage technologies, such as power-to-gas. To help educate the public on renewable natural gas and assist developers who may be interested in interconnecting to the SoCalGas pipeline network, the utility developed a downloadable toolkit. Watch this video to learn more about the environmental and cost-saving benefits of renewable natural gas: Digesting the Facts About Renewable Natural Gas. About SoCalGas Headquartered in Los Angeles, SoCalGas ® is the largest natural gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable natural gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Natural gas delivered through the company's pipelines also plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas is committed to investing in its natural gas system infrastructure, while keeping bills affordable for our customers. From 2013 through 2017, the company spent nearly $6 billion to upgrade and modernize its natural gas system to enhance safety and reliability. The company is also committed to being a leader in the region's clean energy future, and is working to accelerate the use of renewable natural gas from dairy farms, landfills and wastewater treatment plants and the development of renewable energy storage technologies. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook . SOURCE Southern California Gas Company

Oncor To Acquire InfraREIT; Sempra Energy To Acquire 50% Stake In Sharyland Utilities

SAN DIEGO, Oct. 18, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) and Oncor Electric Delivery Company LLC (Oncor) today announced that they have entered into agreements whereby Oncor will acquire 100 percent of the equity interests of InfraREIT, Inc. (NYSE: HIFR) (InfraREIT), including all the limited-partnership units in its subsidiary InfraREIT Partners, LP, for approximately $1.275 billion, or $21 per share (or partnership unit), excluding certain transaction costs, and, concurrently, Sempra Energy will acquire a 50-percent limited-partnership interest in a holding company that will own Sharyland Utilities, LP (Sharyland) for approximately $98 million. Sempra Energy owns an approximate 80-percent ownership stake in Oncor. "This transaction advances our growth strategy and will expand our Texas regulated utility platform," said Jeffrey W. Martin, CEO of Sempra Energy. "These assets are highly desirable and supported by strong economic growth, attractive demographic trends and increased demand for electric transmission in Texas. We expect these acquisitions to be accretive to earnings. We also look forward to working with Sharyland on further developing electric transmission and related infrastructure in Texas." "The purchase of InfraREIT gives us access to high-quality transmission assets that are adjacent to our service territory and are a great fit for our portfolio," said Allen Nye, CEO of Oncor. "As growth continues across Texas and new generation projects continue to come online, this acquisition positions us to make future investments in transmission infrastructure that will better serve the ERCOT market and our customers. We pride ourselves on building safe, reliable, state-of-the-art transmission infrastructure, while providing our customers the lowest rates of any investor-owned utility in Texas." "We believe that Oncor's acquisition of InfraREIT will bring tremendous benefits to Texas and the ERCOT market," said Texas Transmission Investment LLC (TTI), minority owner of Oncor, in a statement. Oncor plans to fund its acquisition of InfraREIT with capital contributions proportionate to their ownership interests from Sempra Energy and TTI. Sempra Energy expects to utilize the proceeds from pending asset sales to fund its capital contribution of approximately $1.025 billion to Oncor, excluding certain transaction costs, and also to purchase the 50-percent interest in Sharyland for approximately $98 million. In addition, the transaction by Oncor includes InfraREIT's outstanding debt, which, as of June 30, 2018, was approximately $945 million. The transaction requires approvals by the Public Utility Commission of Texas (PUCT) and Federal Energy Regulatory Commission, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and the satisfaction of other regulatory requirements, certain lender consents and other customary closing conditions. Additionally, the purchase of InfraREIT requires approval by its shareholders and is subject to a go-shop provision whereby InfraREIT can solicit superior bids. If all such closing conditions are satisfied, Sempra Energy and Oncor expect to close the transaction in mid-2019. As part of the transaction, a subsidiary of InfraREIT will exchange certain assets with Sharyland, with the end result being that, after Oncor's acquisition of InfraREIT, Oncor will own InfraREIT's electric transmission and distribution business in Central, North and West Texas, and Sharyland will own assets in South Texas. Financial advisors for the transaction are Lazard for Sempra Energy and Barclays for Oncor; legal advisors for the transaction are White & Case LLP for Sempra Energy and Vinson & Elkins LLP for Oncor. EARNINGS GUIDANCE Based on the expected accretion from today's announced transaction, combined with the expected use of proceeds from ongoing asset sales and the reduced earnings due to such asset sales – including the company's non-utility U.S. wind and solar assets and non-utility U.S. storage assets – Sempra Energy today affirmed its earnings-per-share guidance range of $5.70 to $6.30 for 2019 and $6.70 to $7.50 for 2020. Sempra Energy also updated its 2018 GAAP earnings-per-share guidance range to $2.83 to $3.44, primarily to reflect the estimated impact of the asset sales announced last month. The company's adjusted earnings-per-share guidance range for 2018 remains at $5.30 to $5.80. The 2018 adjusted earnings-per-share guidance range is a non-GAAP financial measure (see Table A for a reconciliation of the GAAP and adjusted earnings-per-share guidance ranges). INTERNET BROADCAST Sempra Energy and Oncor senior management plan to hold a conference call with the financial community today at 12 p.m. EDT to discuss the transaction. Investors, media, analysts and the public may listen to a live webcast of the conference call on Sempra Energy's website, www.sempra.com, by clicking on the appropriate audio link. For those unable to obtain access to the live webcast, the teleconference will be available on replay a few hours after its conclusion on Sempra Energy's website or by dialing (888) 203-1112 and entering passcode 3162523. Briefing materials will be posted on Sempra Energy's website at approximately 7 a.m. EDT. Headquartered in Dallas, Oncor Electric Delivery Company LLC is a regulated electricity distribution and transmission business that uses superior asset management skills to provide reliable electricity delivery to consumers. Oncor operates the largest distribution and transmission system in Texas, delivering power to more than 3.6 million homes and businesses and operating more than 134,000 miles of transmission and distribution lines in Texas. Oncor is managed by its board of directors, which is comprised of a majority of independent directors. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the timing of the anticipated transactions contemplated by the merger agreement and the securities purchase agreement, and any of the applicable parties' post-acquisition plans and intentions, and other statements that are not historical facts. The following important factors, among others, could cause actual results to differ materially from those set forth in the forward-looking statements: the satisfaction of conditions to closing the definitive agreements for the transactions; obtaining required governmental and regulatory approvals, which may delay the transactions or result in the imposition of conditions that could cause the parties to abandon the transactions or be onerous to Sempra Energy or Oncor; the expected timing to consummate the proposed transactions; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transactions may not be fully realized or may take longer to realize than expected; disruption from the transactions making it more difficult to maintain relationships with customers, employees or suppliers; and the diversion of management time and attention to issues related to the transactions. Additional factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in timely obtaining or maintaining permits and other authorizations, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners and counterparties; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements or modifications of settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability, any of which may raise our cost of capital and materially impair our ability to finance our operations; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as in cases where the inverse condemnation doctrine applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity, including disruptions caused by failures in the transmission grid, moratoriums or limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; changes in energy markets, volatility in commodity prices and moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases, radioactive materials and harmful emissions, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of insurance, to the extent that such insurance is available or not prohibitively expensive; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our common stock, preferred stock and other securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; capital markets and economic conditions, including the availability of credit and the liquidity of our investments; fluctuations in inflation, interest and currency exchange rates and our ability to effectively hedge the risk of such fluctuations; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacements of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric Company's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation, and the potential risk of nonrecovery for stranded assets and contractual obligations; the ability to realize the anticipated benefits from our investment in Oncor Electric Delivery Holdings Company LLC (Oncor Holdings); Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements, certain reductions in its senior secured credit rating, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy and Oncor have 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 . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and neither company undertakes any obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. Additional Information and Where to Find It The proposed acquisition of InfraREIT by Oncor and the related agreement and plan of merger will be submitted to InfraREIT's stockholders for their consideration and approval. In connection with the proposed acquisition, InfraREIT will file a proxy statement with the SEC. This press release does not constitute a solicitation of any vote or proxy from any stockholder of InfraREIT. Investors are urged to read the proxy statement carefully and in its entirety when it becomes available and any other relevant documents or materials filed or to be filed with the SEC or incorporated by reference in the proxy statement, because they will contain important information about the proposed acquisition. The definitive proxy statement will be mailed to InfraREIT's stockholders. In addition, the proxy statement and other documents will be available free of charge at the SEC's website, www.sec.gov . When available, the proxy statement and other pertinent documents may also be obtained free of charge at the Investor Relations section of InfraREIT's website, http://infrareitinc.com , or by directing a written request to InfraREIT, Inc., Attention: Corporate Secretary, 1900 North Akard Street, Dallas, Texas 75201. Certain Information Concerning Participants Sempra Energy, Oncor and InfraREIT and their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed acquisition. Information about Sempra Energy's directors and executive officers is included in Sempra Energy's Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC on February 27, 2018, and Sempra Energy's definitive proxy statement for its 2018 Annual Meeting of Shareholders filed with the SEC on March 23, 2018, and Sempra Energy's Current Report on Form 8-K filed with the SEC on October 12, 2018. Information about Oncor's directors and executive officers is included in Oncor's Registration Statement on Form S-4 filed with the SEC on April 5, 2018, and Oncor's Current Report on Form 8-K filed with the SEC on July 19, 2018. Information about InfraREIT's directors and executive officers is included in InfraREIT's definitive proxy statement for its 2018 Annual Meeting of Stockholders filed with the SEC on March 22, 2018. SEMPRA ENERGY Table A RECONCILIATION OF SEMPRA ENERGY 2018 ADJUSTED EARNINGS-PER-SHARE GUIDANCE RANGE TO SEMPRA ENERGY 2018 GAAP EARNINGS-PER-SHARE GUIDANCE RANGE (Unaudited) Sempra Energy 2018 adjusted earnings-per-share guidance range of $5.30 to $5.80 excludes items as follows: $(965) million in impairments, net of $554 million income tax benefits and $46 million attributable to noncontrolling interests, of certain assets and equity method investments $(22) million impacts, net of $21 million income tax expense, associated with Aliso Canyon litigation $(25) million income tax expense to adjust TCJA provisional amounts $340 million - $370 million estimated gain on sale, net of $128 million - $139 million income tax expense, of U.S. solar assets that is expected to close near the end of 2018 Sempra Energy 2018 adjusted earnings-per-share guidance is a non-GAAP financial measure (GAAP represents accounting principles generally accepted in the United States of America). Because of the significance and/or nature of the excluded items, management believes this non-GAAP financial measure provides additional clarity into the ongoing results of the business and the comparability of such results to prior and future periods and also as a base for projected earnings-per-share compound annual growth rate. Sempra Energy 2018 adjusted earnings-per-share guidance should not be considered an alternative to earnings-per-share guidance determined in accordance with GAAP. The table below reconciles Sempra Energy 2018 adjusted earnings-per-share guidance range to Sempra Energy 2018 GAAP earnings-per-share guidance range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. Full-Year 2018 Sempra Energy GAAP Earnings-Per-Share Guidance Range $ 2.83 to $ 3.44 Excluded items: Impairments of certain assets and equity method investments 3.55 3.55 Impacts associated with Aliso Canyon litigation 0.08 0.08 Impact from the TCJA 0.09 0.09 Estimated gain on sale of U.S. solar assets (1.25) (1.36) Sempra Energy Adjusted Earnings-Per-Share Guidance Range $ 5.30 to $ 5.80 Weighted-average number of common shares outstanding, diluted (millions) 272 SOURCE Sempra Energy

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*As of December 31, 2025. Numbers may be approximate.

Sempra Infrastructure Partners and its subsidiaries, and the Sempra Texas utilities (Oncor and Sharyland Utilities) are not the same companies as the Sempra California utilities, SDG&E or SoCalGas, nor are they regulated by the California Public Utilities Commission (CPUC).