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Sempra Reports 2023 Financial and Business Results

Announces 20% Increase in Capital Plan to $48 Billion Raises Annualized Common Stock Dividend for 14 th Consecutive Year Narrows Full-Year 2024 and Issues 2025 EPS Guidance Ranges Affirms 6-8% Projected Long-Term EPS Growth Rate SAN DIEGO, Feb. 27, 2024 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today reported full-year 2023 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $3.03 billion or $4.79 per diluted share, compared to full-year 2022 GAAP earnings of $2.09 billion or $3.31 per diluted share. On an adjusted basis, full-year earnings were $2.92 billion or $4.61 per diluted share in both 2023 and 2022. "Strong business performance in 2023 reflects continued improvements in our corporate strategy and consistency in execution," said Jeffrey W. Martin, chairman and CEO of Sempra. "At Sempra, our goal is to give investors exposure to attractive growth in the energy infrastructure sector with the support of a growing dividend and a management team committed to providing superior, long-term total returns." The company also reported fourth-quarter 2023 GAAP earnings of $737 million or $1.16 per diluted share, compared to fourth-quarter 2022 GAAP earnings of $438 million or $0.69 per diluted share. On an adjusted basis, the company's fourth-quarter 2023 earnings were $719 million or $1.13 per diluted share, compared to $743 million or $1.17 per diluted share in fourth-quarter 2022. The reported financial results reflect certain significant items as described on an after-tax basis in the following table of GAAP earnings, reconciled to adjusted earnings, for the fourth quarter and full-year 2023 and 2022. (Dollars and shares in millions, except EPS) Three months ended December 31, Years ended December 31, 2023 2022 2023 2022 GAAP Earnings $ 737 $ 438 $ 3,030 $ 2,094 Impact associated with Aliso Canyon litigation and regulatory matters — — — 199 Equity losses from write-off of rate base disallowances resulting from Public Utility Commission of Texas' final order in Oncor Electric Delivery Company LLC's comprehensive base rate review — — 44 — Impact from foreign currency and inflation on monetary positions in Mexico 69 75 235 164 Net unrealized (gains) losses on commodity derivatives (47) 247 (366) 355 Net unrealized (gains) losses on contingent interest rate swap related to initial phase of the Port Arthur LNG liquefaction project — (17) 17 (17) Deferred income tax expense associated with change in indefinite reinvestment assertion related to sale of noncontrolling interest to Abu Dhabi Investment Authority — — — 120 Earnings from investment in RBS Sempra Commodities LLP (40) — (40) — Adjusted Earnings (1) $ 719 $ 743 $ 2,920 $ 2,915 Diluted Weighted-Average Common Shares Outstanding 634 632 633 633 GAAP EPS $ 1.16 $ 0.69 $ 4.79 $ 3.31 Adjusted EPS (1) $ 1.13 $ 1.17 $ 4.61 $ 4.61 1) See Table A for information regarding non-GAAP financial measures and descriptions of adjustments. Capital Plan Growth Across North America, the growing need to connect people to safer, more reliable and cleaner energy is driving significant investment opportunities in the transmission and distribution portion of the energy value chain. In response to this opportunity, Sempra is forecasting a company-record five-year capital plan of approximately $48 billion, representing a 20% increase from the previous capital plan. Over 90% of these investments are focused on Sempra California and Sempra Texas. "Strong projected growth in Sempra's core markets is driving a substantial increase in our five-year capital plan," said Karen Sedgwick, executive vice president and chief financial officer of Sempra. "Expanding our capital campaign also supports our confidence in our ability to deliver sustainable, long-term value for our owners." Progress at Sempra's Three Growth Platforms Sempra's three growth platforms – Sempra California, Sempra Texas and Sempra Infrastructure – deliver energy to nearly 40 million consumers across some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. Sempra California Serving roughly 25 million consumers, Sempra California is a dual-utility platform focused on connecting people to safer, more reliable and cleaner energy. In 2023, $4.6 billion was invested in capital projects, including installing 200 megawatts of new utility-owned battery storage and microgrids to help enhance grid reliability and strengthen community resilience. In California, our regulated utilities continue to earn recognition for both sustainability and innovation. In the fourth quarter of 2023, the [H2] Innovation Experience was named to Fast Company's list of the Next Big Things in Tech. Sempra California's electric network was recognized by PA Consulting for Outstanding Grid Sustainability and for Outstanding Reliability Performance, a reliability distinction it has earned for 18 years in a row. Additionally, progress continues with the general rate cases before the California Public Utilities Commission including proposed partial settlements reached with certain intervenors. A proposed decision is scheduled for the second quarter of 2024. Sempra Texas Broad economic growth is driving new investment opportunities at Sempra Texas. In 2023, roughly $3.8 billion of capital was invested by Oncor Electric Delivery Company LLC (Oncor) to support the growing needs of its customers, resulting in approximately 12% rate base growth since year-end 2022. Nearly $1.6 billion of transmission projects were placed into service by Oncor in 2023, including placement of over 40 major substations and over 30 major switching stations and approximately 390 circuit miles of new or upgraded high-voltage transmission lines. Additionally, in 2023, Oncor saw a 25% increase in active generation and retail transmission interconnection requests as compared to 2022. Of the approximately 480 active generation point of interconnection requests in the queue at the end of 2023, 46% were solar, 42% were storage, 9% were wind and 3% were natural gas. Several constructive legislative and regulatory outcomes were achieved in 2023 that are expected to support critical new infrastructure investments in the Texas market, while also improving the timeliness of capital recovery. Sempra Infrastructure Sempra Infrastructure delivered strong financial and operational performance in 2023, a testament to its effectiveness as a high-growth, lower-carbon business focused on delivering cleaner and more secure energy to customers around the world. Cameron LNG Phase 1 continues to be highly efficient, delivering excess production and achieving over 700 cargoes loaded since production began. As the company looks to expand its liquefied natural gas (LNG) portfolio, significant progress continues at Energía Costa Azul (ECA) LNG Phase 1 and Port Arthur LNG Phase 1. ECA LNG Phase 1 remains on track for commercial operations in summer 2025. In 2023, Sempra Infrastructure made a positive Final Investment Decision on Port Arthur LNG Phase 1 and project-level financing was secured. Sempra also closed the sales of indirect non-controlling interests in the project to ConocoPhillips and KKR. In addition, Sempra Infrastructure continues to advance development efforts for its various LNG, hydrogen and carbon capture projects in response to continued global demand for cleaner fuels to support the decarbonization of the power sector and improve energy security. Earnings Guidance Sempra is narrowing its full-year 2024 earnings-per-common share (EPS) guidance range to $4.60 to $4.90 and announcing a full-year 2025 EPS guidance range of $4.90 to $5.25, which represents a 7% year-over-year increase from the midpoint of the full-year 2024 EPS guidance range. The company is also affirming its projected long-term EPS growth rate of approximately 6% to 8%. Common and Preferred Dividends Sempra's board of directors declared a $0.62 per share quarterly dividend on the company's common stock, which is payable April 15, 2024, to common stock shareholders of record at the close of business on March 21, 2024. The declared quarterly dividend represents an increase of the company's common stock dividend to $2.48 per share, on an annualized basis, from $2.38 per share in 2023. Additionally, Sempra's board of directors declared a semi-annual dividend of $24.375 per share on the company's 4.875% Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, Series C. The preferred stock dividends will be payable April 15, 2024, to preferred stock shareholders of record at the close of business on April 1, 2024. Non-GAAP Financial Measures Non-GAAP financial measures include Sempra's adjusted earnings and adjusted EPS. See Table A for additional information regarding these non-GAAP financial measures. Internet Broadcast Sempra will broadcast a live discussion of its earnings results over the internet today at 12 p.m. ET with the company's senior management. Access is available by logging onto the Investors section of the company's website, sempra.com/investors. The webcast will be available on replay a few hours after its conclusion at sempra.com/investors. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy market. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America and in The Wall Street Journal's Best Managed Companies. More information about Sempra is available at sempra.com and on social media @Sempra. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, including risks related to (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, (iv) obtaining third-party consents and approvals, and (v) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to tax and trade policy and the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of San Diego Gas & Electric Company's (SDG&E) and Southern California Gas Company's (SoCalGas) customer rates and their cost of capital and on SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California, and (iii) with respect to Sempra Infrastructure's business, volatility in foreign currency exchange rates; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to relevant emerging and early-stage technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, pipeline system or limitations on the withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. None of the website references in this press release are active hyperlinks, and the information contained on, or that can be accessed through, any such website is not, and shall not be deemed to be, part of this document. SEMPRA Table A CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts; shares in thousands) Three months ended December 31, Years ended December 31, 2023 2022 2023 (1) 2022 (1) REVENUES Utilities: Natural gas $ 1,935 $ 2,257 $ 9,495 $ 7,868 Electric 1,003 1,120 4,334 4,783 Energy-related businesses 553 78 2,891 1,788 Total revenues 3,491 3,455 16,720 14,439 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (465) (768) (3,719) (2,603) Cost of electric fuel and purchased power 10 (174) (375) (937) Energy-related businesses cost of sales (111) (178) (548) (942) Operation and maintenance (1,500) (1,292) (5,458) (4,746) Aliso Canyon litigation and regulatory matters — — — (259) Depreciation and amortization (576) (519) (2,227) (2,019) Franchise fees and other taxes (168) (161) (677) (635) Other income, net 56 27 131 24 Interest income 29 17 89 75 Interest expense (314) (258) (1,309) (1,054) Income before income taxes and equity earnings 452 149 2,627 1,343 Income tax benefit (expense) 9 (121) (490) (556) Equity earnings 395 380 1,481 1,498 Net income 856 408 3,618 2,285 (Earnings) losses attributable to noncontrolling interests (108) 41 (543) (146) Preferred dividends (11) (11) (44) (44) Preferred dividends of subsidiary — — (1) (1) Earnings attributable to common shares $ 737 $ 438 $ 3,030 $ 2,094 Basic earnings per common share (EPS): Earnings $ 1.17 $ 0.70 $ 4.81 $ 3.32 Weighted-average common shares outstanding 631,284 629,476 630,296 630,318 Diluted EPS: Earnings $ 1.16 $ 0.69 $ 4.79 $ 3.31 Weighted-average common shares outstanding 634,228 632,295 632,733 632,757 (1) Derived from audited financial statements. SEMPRA Table A (Continued) RECONCILIATION OF SEMPRA ADJUSTED EARNINGS TO SEMPRA GAAP EARNINGS Sempra Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests) in 2023 and 2022 as follows: Three months ended December 31, 2023: $(69) million impact from foreign currency and inflation on our monetary positions in Mexico $47 million net unrealized gains on commodity derivatives $40 million equity earnings from investment in RBS Sempra Commodities LLP based on a legal settlement Three months ended December 31, 2022: $(75) million impact from foreign currency and inflation on our monetary positions in Mexico $(247) million net unrealized losses on commodity derivatives $17 million net unrealized gains on a contingent interest rate swap related to the proposed initial phase of the Port Arthur LNG liquefaction project Year ended December 31, 2023: $(44) million equity losses from investment in Oncor Electric Delivery Holdings Company LLC related to a write-off of rate base disallowances resulting from the Public Utility Commission of Texas' final order in Oncor Electric Delivery Company LLC's comprehensive base rate review $(235) million impact from foreign currency and inflation on our monetary positions in Mexico $366 million net unrealized gains on commodity derivatives $(17) million net unrealized losses on a contingent interest rate swap related to the initial phase of the Port Arthur LNG liquefaction project $40 million equity earnings from investment in RBS Sempra Commodities LLP based on a legal settlement Year ended December 31, 2022: $(199) million impact associated with Aliso Canyon natural gas storage facility litigation and regulatory matters at Sempra California $(164) million impact from foreign currency and inflation on our monetary positions in Mexico $(355) million net unrealized losses on commodity derivatives $17 million net unrealized gains on a contingent interest rate swap related to the proposed initial phase of the Port Arthur LNG liquefaction project $(120) million deferred income tax expense associated with the change in our indefinite reinvestment assertion as a result of progress in obtaining regulatory approvals necessary to close the sale of 10% noncontrolling interest in Sempra Infrastructure Partners, LP to Abu Dhabi Investment Authority Sempra Adjusted Earnings and Adjusted EPS are non-GAAP financial measures (GAAP represents generally accepted accounting principles in the United States of America). These non-GAAP financial measures exclude significant items that are generally not related to our ongoing business activities and/or are infrequent in nature. These non-GAAP financial measures also exclude the impact from foreign currency and inflation on our monetary positions in Mexico and net unrealized gains and losses on commodity derivatives, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below reconciles for historical periods these non-GAAP financial measures to Sempra GAAP Earnings and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. SEMPRA Table A (Continued) RECONCILIATION OF ADJUSTED EARNINGS TO GAAP EARNINGS (Dollars in millions, except EPS; shares in thousands) Pretax amount Income tax expense (benefit) (1) Non-controlling interests Earnings Pretax amount Income tax expense (benefit) (1) Non-controlling interests Earnings Three months ended December 31, 2023 Three months ended December 31, 2022 Sempra GAAP Earnings $ 737 $ 438 Excluded items: Impact from foreign currency and inflation on monetary positions in Mexico $ 22 $ 80 $ (33) 69 $ 19 $ 89 $ (33) 75 Net unrealized (gains) losses on commodity derivatives (92) 16 29 (47) 486 (96) (143) 247 Net unrealized gains on contingent interest rate swap related to proposed initial phase of the Port Arthur LNG liquefaction project — — — — (33) 6 10 (17) Earnings from investment in RBS Sempra Commodities LLP (40) — — (40) — — — — Sempra Adjusted Earnings $ 719 $ 743 Diluted EPS: Weighted-average common shares outstanding, diluted 634,228 632,295 Sempra GAAP EPS $ 1.16 $ 0.69 Sempra Adjusted EPS $ 1.13 $ 1.17 Year ended December 31, 2023 Year ended December 31, 2022 Sempra GAAP Earnings $ 3,030 $ 2,094 Excluded items: Impact associated with Aliso Canyon litigation and regulatory matters $ — $ — $ — — $ 259 $ (60) $ — 199 Equity losses from write-off of rate base disallowances resulting from Public Utility Commission of Texas' final order in Oncor Electric Delivery Company LLC's comprehensive base rate review — — — 44 — — — — Impact from foreign currency and inflation on monetary positions in Mexico 62 283 (110) 235 49 169 (54) 164 Net unrealized (gains) losses on commodity derivatives (722) 144 212 (366) 669 (138) (176) 355 Net unrealized losses (gains) on contingent interest rate swap related to initial phase of the Port Arthur LNG liquefaction project 33 (6) (10) 17 (33) 6 10 (17) Deferred income tax expense associated with change in indefinite reinvestment assertion related to sale of noncontrolling interest to Abu Dhabi Investment Authority — — — — — 120 — 120 Earnings from investment in RBS Sempra Commodities LLP (40) — — (40) — — — — Sempra Adjusted Earnings $ 2,920 $ 2,915 Diluted EPS: Weighted-average common shares outstanding, diluted 632,733 632,757 Sempra GAAP EPS $ 4.79 $ 3.31 Sempra Adjusted EPS $ 4.61 $ 4.61 (1) Except for adjustments that are solely income tax, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. We record equity losses for our investment in Oncor Electric Delivery Holdings Company LLC net of income tax. We did not record an income tax expense for the equity earnings from our investment in RBS Sempra Commodities LLP because, even though a portion may be deductible under United Kingdom tax law, it is not probable that the deduction will reduce United Kingdom taxes. SEMPRA Table B CONSOLIDATED BALANCE SHEETS (Dollars in millions) December 31, 2023 (1) 2022 (1) ASSETS Current assets: Cash and cash equivalents $ 236 $ 370 Restricted cash 49 40 Accounts receivable – trade, net 2,151 2,635 Accounts receivable – other, net 561 685 Due from unconsolidated affiliates 31 54 Income taxes receivable 94 113 Inventories 482 403 Prepaid expenses 273 268 Regulatory assets 226 351 Fixed-price contracts and other derivatives 122 803 Greenhouse gas allowances 1,189 141 Other current assets 56 49 Total current assets 5,470 5,912 Other assets: Restricted cash 104 52 Regulatory assets 3,771 2,588 Greenhouse gas allowances 301 796 Nuclear decommissioning trusts 872 841 Dedicated assets in support of certain benefit plans 549 505 Deferred income taxes 129 135 Right-of-use assets – operating leases 723 655 Investment in Oncor Holdings 14,266 13,665 Other investments 2,244 2,012 Goodwill 1,602 1,602 Other intangible assets 318 344 Wildfire fund 269 303 Other long-term assets 1,603 1,382 Total other assets 26,751 24,880 Property, plant and equipment, net 54,960 47,782 Total assets $ 87,181 $ 78,574 (1) Derived from audited financial statements SEMPRA Table B (Continued) CONSOLIDATED BALANCE SHEETS (CONTINUED) (Dollars in millions) December 31, 2023 (1) 2022 (1) LIABILITIES AND EQUITY Current liabilities: Short-term debt $ 2,342 $ 3,352 Accounts payable – trade 2,211 1,994 Accounts payable – other 224 275 Due to unconsolidated affiliates 5 — Dividends and interest payable 691 621 Accrued compensation and benefits 526 484 Regulatory liabilities 553 504 Current portion of long-term debt and finance leases 975 1,019 Reserve for Aliso Canyon costs 31 129 Greenhouse gas obligations 1,189 141 Other current liabilities 1,343 1,380 Total current liabilities 10,090 9,899 Long-term debt and finance leases 27,759 24,548 Deferred credits and other liabilities: Due to unconsolidated affiliates 307 301 Regulatory liabilities 3,739 3,341 Greenhouse gas obligations — 565 Pension and other postretirement benefit plan obligations, net of plan assets 407 410 Deferred income taxes 5,254 4,591 Asset retirement obligations 3,642 3,546 Deferred credits and other 2,329 2,117 Total deferred credits and other liabilities 15,678 14,871 Equity: Sempra shareholders' equity 28,675 27,115 Preferred stock of subsidiary 20 20 Other noncontrolling interests 4,959 2,121 Total equity 33,654 29,256 Total liabilities and equity $ 87,181 $ 78,574 (1) Derived from audited financial statements. SEMPRA Table C CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in millions) Years ended December 31, 2023 (1) 2022 (1) CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 3,618 $ 2,285 Adjustments to reconcile net income to net cash provided by operating activities 853 2,025 Reserve for Aliso Canyon costs (98) (1,851) Net change in other working capital components 1,527 (1,967) Insurance receivable for Aliso Canyon costs — 360 Distributions from investments 912 854 Changes in other noncurrent assets and liabilities, net (594) (564) Net cash provided by operating activities 6,218 1,142 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (8,397) (5,357) Expenditures for investments and acquisitions (382) (376) Proceeds from sale of assets 3 — Purchases of nuclear decommissioning and other trust assets (610) (700) Proceeds from sales of nuclear decommissioning and other trust assets 661 762 Repayments of advances to unconsolidated affiliates — 626 Other 9 6 Net cash used in investing activities (8,716) (5,039) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (1,483) (1,430) Preferred dividends paid (44) (44) Issuances of common stock, net 145 4 Repurchases of common stock (32) (478) Issuances of debt (maturities greater than 90 days) 7,669 9,984 Payments on debt (maturities greater than 90 days) and finance leases (6,294) (4,510) Increase (decrease) in short-term debt, net 552 (1,266) Advances from unconsolidated affiliates 31 28 Proceeds from sales of noncontrolling interests, net 1,219 1,732 Distributions to noncontrolling interests (730) (237) Contributions from noncontrolling interests 1,570 31 Settlement of cross-currency swaps (99) — Other (85) (35) Net cash provided by financing activities 2,419 3,779 Effect of exchange rate changes on cash, cash equivalents and restricted cash 6 (1) Decrease in cash, cash equivalents and restricted cash (73) (119) Cash, cash equivalents and restricted cash, January 1 462 581 Cash, cash equivalents and restricted cash, December 31 $ 389 $ 462 (1) Derived from audited financial statements. SEMPRA Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES AND INVESTMENTS (Dollars in millions) Three months ended December 31, Years ended December 31, 2023 2022 2023 (1) 2022 (1) Earnings (Losses) Attributable to Common Shares Sempra California $ 500 $ 494 $ 1,747 $ 1,514 Sempra Texas Utilities 146 132 694 736 Sempra Infrastructure 131 (82) 877 310 Parent and other (40) (106) (288) (466) Total $ 737 $ 438 $ 3,030 $ 2,094 Three months ended December 31, Years ended December 31, 2023 2022 2023 (1) 2022 (1) Capital Expenditures and Investments Sempra California $ 1,216 $ 1,421 $ 4,560 $ 4,466 Sempra Texas Utilities 97 90 367 346 Sempra Infrastructure 1,111 406 3,847 914 Parent and other — 1 5 7 Total $ 2,424 $ 1,918 $ 8,779 $ 5,733 (1) Derived from audited financial statements. SEMPRA Table E OTHER OPERATING STATISTICS Three months ended December 31, Years ended or at December 31, 2023 2022 2023 2022 UTILITIES Sempra California Gas sales (Bcf) (1) 89 109 369 349 Transportation (Bcf) (1) 150 163 588 625 Total deliveries (Bcf) (1) 239 272 957 974 Total gas customer meters (thousands) 7,078 7,040 Electric sales (millions of kWhs) (1) 974 1,715 4,619 7,800 Community Choice Aggregation and Direct Access (millions of kWhs) (2) 3,227 2,765 12,228 9,900 Total deliveries (millions of kWhs) (1) 4,201 4,480 16,847 17,700 Total electric customer meters (thousands) 1,517 1,504 Oncor Electric Delivery Company LLC (3) Total deliveries (millions of kWhs) 35,906 33,680 156,477 149,260 Total electric customer meters (thousands) 3,969 3,896 Ecogas México, S. de R.L. de C.V. Natural gas sales (Bcf) 1 1 4 4 Natural gas customer meters (thousands) 157 150 ENERGY-RELATED BUSINESSES Sempra Infrastructure Termoeléctrica de Mexicali (millions of kWhs) 1,064 842 3,086 3,110 Wind and solar (millions of kWhs) (1) 610 640 3,135 2,987 (1) Includes intercompany sales. (2) Several jurisdictions in Sempra California's territory have implemented Community Choice Aggregation, including the City of San Diego in 2022. Additional jurisdictions are in the process of implementing or considering Community Choice Aggregation. (3) Includes 100% of the electric deliveries and customer meters of Oncor Electric Delivery Company LLC, in which we hold an indirect 80.25% interest through our investment in Oncor Electric Delivery Holdings Company LLC. SEMPRA Table F STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Three months ended December 31, 2023 Sempra California Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 2,920 $ — $ 586 $ (15) $ 3,491 Cost of sales and other expenses (1,840) — (380) (14) (2,234) Depreciation and amortization (502) — (71) (3) (576) Other income (expense), net 27 — (1) 30 56 Income (loss) before interest and tax (1) 605 — 134 (2) 737 Net interest (expense) income (200) (1) 16 (100) (285) Income tax benefit (expense) 95 (1) (118) 33 9 Equity earnings — 148 207 40 395 Earnings attributable to noncontrolling interests — — (108) — (108) Preferred dividends — — — (11) (11) Earnings (losses) attributable to common shares $ 500 $ 146 $ 131 $ (40) $ 737 Three months ended December 31, 2022 Sempra California Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 3,358 $ — $ 109 $ (12) $ 3,455 Cost of sales and other expenses (2,158) (2) (385) (28) (2,573) Depreciation and amortization (448) — (69) (2) (519) Other income, net 21 — 4 2 27 Income (loss) before interest and tax (1) 773 (2) (341) (40) 390 Net interest (expense) income (175) — 1 (67) (241) Income tax (expense) benefit (104) 1 (30) 12 (121) Equity earnings — 133 247 — 380 Losses attributable to noncontrolling interests — — 41 — 41 Preferred dividends — — — (11) (11) Earnings (losses) attributable to common shares $ 494 $ 132 $ (82) $ (106) $ 438 (1) Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations. SEMPRA Table F (Continued) STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Year ended December 31, 2023 (1) Sempra California Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 13,761 $ — $ 3,071 $ (112) $ 16,720 Cost of sales and other expenses (9,442) (5) (1,361) 31 (10,777) Depreciation and amortization (1,937) — (281) (9) (2,227) Other income, net 93 — 10 28 131 Income (loss) before interest and tax (2) 2,475 (5) 1,439 (62) 3,847 Net interest expense (758) (1) (86) (375) (1,220) Income tax benefit (expense) 31 (1) (673) 153 (490) Equity earnings — 701 740 40 1,481 Earnings attributable to noncontrolling interests — — (543) — (543) Preferred dividends (1) — — (44) (45) Earnings (losses) attributable to common shares $ 1,747 $ 694 $ 877 $ (288) $ 3,030 Year ended December 31, 2022 (1) Sempra California Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 12,577 $ — $ 1,919 $ (57) $ 14,439 Cost of sales and other expenses (8,188) (6) (1,642) (27) (9,863) Aliso Canyon litigation and regulatory matters (259) — — — (259) Depreciation and amortization (1,743) — (268) (8) (2,019) Other income (expense), net 84 — — (60) 24 Income (loss) before interest and tax (2) 2,471 (6) 9 (152) 2,322 Net interest expense (636) — (60) (283) (979) Income tax (expense) benefit (320) — (249) 13 (556) Equity earnings — 742 756 — 1,498 Earnings attributable to noncontrolling interests — — (146) — (146) Preferred dividends (1) — — (44) (45) Earnings (losses) attributable to common shares $ 1,514 $ 736 $ 310 $ (466) $ 2,094 (1) Derived from audited financial statements. (2) Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations. SOURCE Sempra

Sempra’s strategy drives 5-year capital plan increase

Sempra’s chief financial officer Karen Sedgwick, together with CEO and Chairman Jeffrey W. Martin, announced during the 2023 year-end earnings call on Feb. 27 that the company’s capital plan will increase to $48 billion, representing a 20% increase from the previous capital plan. 1 “Strong projected growth in Sempra’s core markets of California, Texas, Mexico and the global energy market is driving a substantial increase in our five-year capital plan,” Sedgwick said. “Expanding our capital campaign also supports our confidence in being able to deliver sustainable, long-term value for our owners.” Sempra’s family of companies have a long history of investing on behalf of its customers to deliver energy to large growing markets in North America, dating back to the 1800s. The five-year capital plan comes as the company aims to stay at the forefront of its industry by making disciplined investments in new energy networks, connecting customers to new renewable power sources and pioneering smart grid technologies to advance reliability and safety. With energy essential to modern life, these investments aim to fulfill people’s changing energy needs in the years ahead. “At Sempra, we’re a San Diego-based company with a track record of innovation and using new technology to better serve customers,” said Sedgwick, who has worked at the company since 1992. “We are proud of our progress in the energy transition and our reputation of delivering strong financial returns to our shareholders.” In the same earnings update on Feb. 27, Sempra announced that the board of directors declared a $0.62 per share quarterly dividend on the company's common stock — or $2.48 per share on an annualized basis, representing a 4.2% increase over 2023 and the 14th consecutive year the company has raised its annualized common stock dividend. Sempra also announced that it is narrowing its full-year 2024 earnings-per-common share (EPS) guidance range to $4.60 to $4.90 and introduced a full-year 2025 EPS guidance range of $4.90 to $5.25, which represents a 7% year-over-year increase from the midpoint of the previous year’s EPS guidance range. The company also reiterated its long-term projected EPS growth rate of approximately 6% to 8%. New energy networks to fulfill North America’s needs The announcements from the 2023 year-end earnings call are the result of the company’s narrow focus within the energy value chain on transmission and distribution infrastructure that produce high quality recurring cash flows. In addition, Sempra’s business strategy creates opportunity for its customers to benefit from electrification and decarbonization trends in key markets. “We are owners and operators of top tier transmission and distribution platforms located in some of North America’s largest markets, with a goal of delivering safe, reliable, resilient and increasingly sustainable energy for our customers,” Sedgwick said. Harnessing innovation to drive long-term sustainable energy solutions Sempra and its family of companies have thrived in recent years, Sedgwick said, in part by advancing innovation and new technologies across its three growth platforms — Sempra California, Sempra Texas and Sempra Infrastructure. Across these three growth platforms — which deliver energy to nearly 40 million consumers — stakeholders have seen innovation that ranges from North America's first-ever clean hydrogen powered microgrid and home — the H2 Innovation Experience — and the Wildfire Next Generation System, a predictive modeling technology that helps protect communities from wildfire risk. To cater to a fast-growing population in the Lone Star state, Sempra Texas is extending its electrical grid to connect to new renewable generation that harnesses the sun and wind to meet growing demand, while Sempra Infrastructure continues to accelerate access to energy through its high-growth, lower carbon platform. “As we look to the future, Sempra will continue to embrace innovation as we seek opportunities to provide cleaner and more secure energy for our customers and create a more sustainable business,” said Sedgwick. “By doing so, we give investors exposure to attract growth in the energy infrastructure sector with support of a growing dividend and a management team committed to providing superior, long-term returns.” 1 Refers to the increase from Sempra’s 2023 – 2027 capital plan to its 2024 – 2028 capital plan which includes $16.2B of Sempra’s proportionate ownership interest in projected capital expenditures at unconsolidated entities while excluding Sempra’s projected capital contributions to those entities, and excludes $8.6B of noncontrolling interest’s proportionate ownership interest in projected capital expenditures at Sempra and at unconsolidated entities. Sempra's capital plan and expectations regarding potential increases to its capital requirements are based on a number of assumptions, the failure of which to be accurate could materially impact Sempra's actual capital expenditures. This article contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this article. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this article, forward-looking statements can be identified by words such as “believe,” “expect,” “intend,” “anticipate,” “contemplate,” “plan,” “estimate,” “project,” “forecast,” “envision,” “should,” “could,” “would,” “will,” “confident,” “may,” “can,” “potential,” “possible,” “proposed,” “in process,” “construct,” “develop,” “opportunity,” “preliminary,” “initiative,” “target,” “outlook,” “optimistic,” “poised,” “maintain,” “continue,” “progress,” “advance,” “goal,” “aim,” “commit,” or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, including risks related to (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, (iv) obtaining third-party consents and approvals, and (v) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to tax and trade policy and the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of San Diego Gas & Electric Company’s (SDG&E) and Southern California Gas Company’s (SoCalGas) customer rates and their cost of capital and on SDG&E’s, SoCalGas’ and Sempra Infrastructure’s ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E’s and SoCalGas’ businesses, the cost of meeting the demand for lower carbon and reliable energy in California, and (iii) with respect to Sempra Infrastructure’s business, volatility in foreign currency exchange rates; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to relevant emerging and early-stage technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, pipeline system or limitations on the withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC’s (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor’s independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, sec.gov, and on Sempra’s website, sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.

Grants of Up to $200 Available to Help SoCalGas Customers in Need

$1 million in Gas Assistance Funds available today to support eligible residential customers LOS ANGELES, Feb. 14, 2024 /PRNewswire/ -- Today, SoCalGas announced there is $1 million available in the Gas Assistance Fund to support eligible customers with grants of up to $200 to help pay their natural gas bill in 2024. Eligibility to receive a grant from the Gas Assistance Fund is based on total household income and household size. Information on how to qualify and apply can be found at socalgas.com/GAF. "This winter, there is some good news for SoCalGas customers with natural gas prices dramatically down from last year's historic high prices. However, with cooler winter temperatures, we know that people may use more gas to keep their homes and families warm," said Gillian Wright, SoCalGas Senior Vice President and Chief Customer Officer. "SoCalGas is committed to supporting customers and we will continue to provide winter conservation tips, resources and programs such as the Gas Assistance Fund." SoCalGas provides resources to help customers manage their energy consumption, make energy-efficient improvements to their homes, and ultimately reduce their bills, including the Gas Assistance Fund, a joint effort between SoCalGas and the United Way of Greater Los Angeles. Working with nonprofit organizations throughout SoCalGas's service territory, United Way of Greater Los Angeles helps income-qualified customers pay their natural gas bill with a one-time grant of up to $100 per household. If the eligible applicant or a household member is age 55 or older, an additional $100 is available for a maximum grant of up to $200. "At United Way Los Angeles, we believe that we can accomplish more together than alone. SoCalGas' Gas Assistance Fund, which has helped Californians pay their utility bills since 1983, is an example of how we can come together to support our neighbors and communities," said Elise Buik, President & CEO of United Way Greater Los Angeles. "This program directly supports vulnerable individuals who face severe economic challenges. SoCalGas' donation and continued support enables United Way to expand our impact and support even more individuals to afford their natural gas bills." As a reminder to customers, SoCalGas offers a suite of programs and services that can help customers manage their natural gas usage to help save energy and money, including: Energy Savings Tools for All Customers: Natural Gas Price Notice: text alerts that update customers when a 20% or more increase in the natural gas commodity cost is expected, which may impact their bills. To date, nearly 63,000 customers have signed up for optional text alerts. ( Text alerts to be sent winter season December through March). Ways to Save: a free tool that helps customers find ways to save on natural gas bills, with a personalized savings plan that offers a household energy analysis, customized energy-efficiency recommendations, bill comparisons and energy usage comparisons. Bill Tracker Alerts: notifications that help customers monitor gas consumption and take steps to reduce usage to avoid surprises on their bills. Level Pay Plan: averages customers natural gas bill across a 12-month period. Each month, the customer pays an average bill instead of actual charges. This is not a discount program. Customer Assistance Programs for those who qualify: California Alternate Rates for Energy (CARE): program that saves customers 20% on their monthly gas bills. Energy Savings Assistance (ESA) Program: provides no-cost energy-saving home improvements, with the potential to save customers up to 20% annually on their natural gas bill. Arrearage Management Plan (AMP): allows customers to have their eligible past due bills forgiven. Once enrolled, every time a current bill is paid in full and on time, SoCalGas will forgive 1/12 of the eligible debt. After 12 consecutive monthly natural gas bills are paid in full and on time, the entire past due amount will be forgiven (up to a maximum of $8,000 per enrollment period). Medical Baseline Allowance: provides additional natural gas at the baseline rate. To see more programs that can help customers save money and energy, visit socalgas.com/Save. About SoCalGas Headquartered in Los Angeles, SoCalGas ® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. We believe gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on X (formerly Twitter) (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

SDG&E unveils four advanced microgrids to boost grid resilience and reliability

Video of San Diego microgrid site available here. SAN DIEGO, Feb. 13, 2024 /PRNewswire/ -- San Diego Gas & Electric (SDG&E) unveiled four new microgrids featuring advanced remote operation capabilities and state-of-the-art safety technologies to help enhance grid reliability and bolster resiliency for the surrounding communities. The four microgrid and energy storage sites, located in the communities of Clairemont, Tierra Santa, Paradise, and Boulevard, will help address surging energy demands in the San Diego region, especially during hot summer days and the peak evening hours when solar power generation typically diminishes and there is significant strain on the grid. The ability to remotely operate microgrids offers real-time monitoring, faster response to grid events, more efficient energy storage management, and enhanced grid resilience designed to help, optimize overall performance, reliability, and sustainability. These systems utilize lithium iron phosphate (LFP) battery cells and have advanced safety and fire prevention features. Caroline Winn, SDG&E's Chief Executive Officer, emphasized the significance of these clean energy projects in bolstering the region's resilience to the escalating challenges posed by climate change. "Storage and microgrids are key to helping build a more resilient electric grid that can extend the availability of cleaner energy and help our communities better manage through grid emergencies like the extreme heat experienced in recent summers," said Winn. "These microgrids will actively dispatch clean energy to the grid when needed and help improve energy resiliency for critical facilities like fire stations, schools, and cooling centers in San Diego." Nora Vargas, San Diego County Board Supervisor, has been a long-time environmental justice advocate and emphasized the importance of equity in our road to a net zero future. "For communities like mine that often experience outages during power emergencies, we welcome infrastructure that will help keep our lights on and our refrigerators running during difficult times," said Chairwoman Nora Vargas. "Enhancing our power grid is an important first step in making sure all communities have access to basic resources during a crisis, especially for our local schools, fire stations, and medical centers." In December 2021, the California Public Utilities Commission granted the green light to SDG&E to move forward with these innovative projects. The four microgrids will operate independently or in tandem with the larger regional grid and offer a combined storage capacity of approximately 39 megawatts (MW) and 180 megawatt-hours (MWh) across four SDG&E substations. These projects were set into motion in response to Gov. Newsom's State Emergency Proclamation in the summer of 2021. These facilities will be connected to the state energy market, allowing the California Independent System Operator (CAISO) to dispatch these resources as needed to help maintain a balanced supply and demand of energy throughout the state. The energy storage sites are: The Clairemont microgrid serves the Balboa Branch Library/Cool Zone, Fire Station 36, and local schools such as Lafayette Elementary, Sequoia Elementary, Innovation and CPMA Middle Schools and Madison High School. The Elliott Microgrid will generate 10MW and has the capacity to power Fire Station 39, the Tierrasanta Public Library/Cool Zone, Tierrasanta Medical Center, Jean Farb Middle School, Canyon Hills High School, and Tierrasanta and Kumeyaay Elementary Schools. The Paradise Microgrid that has the ability to power Fire Stations 51 and 32, the Southeast Division Police Department, and Bell Middle School as well as Freese, Boone and Fulton Elementary The Boulevard microgrid serves the San Diego County Sheriff's Department, Fire Station 47, Campo Reservation Fire Station, Cal Fire White Star Station, Campo Tribal Office, Campo Kumeyaay Nation Medical Center, Southern Indian Health Council Campo Clinic, the Boulevard Border Patrol Station, and the Boulevard Post Office About SDG&E: SDG&E is an innovative energy delivery company that provides increasingly cleaner, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by increasing energy delivered from low or zero-carbon sources; accelerating the adoption of electric vehicles; and investing in innovative technologies to ensure the reliable operation of the region's infrastructure for generations to come. SDG&E is a subsidiary of Sempra (NYSE: SRE). For more information, visit SDGEnews.com or connect with SDG&E on X (formerly Twitter) (@SDGE ) , Instagram ( @SDGE ) and Facebook . SOURCE San Diego Gas & Electric (SDG&E)

SoCalGas Showcases Zero Emissions Hydrogen Fuel Cell Electric Technologies by Kenworth and Toyota at 2024 World Ag Expo

The innovative hydrogen technology can help commercial customers decarbonize their fleet and reduce local air pollution from the transportation sector, the largest generator of greenhouse gas and nitrogen oxide emissions in California. TULARE, Calif., Feb. 12, 2024 /PRNewswire/ -- Southern California Gas Company (SoCalGas) alongside Kenworth Truck Company (Kenworth) and Toyota Motor North America Inc. (Toyota) are displaying two zero emissions hydrogen fuel cell electric vehicles (FCEV) at the annual World Ag Expo this week. SoCalGas' booth will showcase Kenworth's Class 8 T680 hydrogen FCEV truck powered by Toyota, as well as one of SoCalGas's zero emissions fleet vehicles, a hydrogen fuel cell electric Toyota Mirai. As part of SoCalGas' ASPIRE 2045 sustainability strategy, SoCalGas has converted 38% of its over-the-road fleet to run on alternative fuels like hydrogen, renewable natural gas, and battery electric. The company aims to continue growing its alternative fuel vehicle (AFV) fleet, with an interim goal of reaching a 50% AFV powered fleet by 2025 and a 100% zero emissions fleet by 2035. "Incorporating multiple options like hydrogen, renewable natural gas, and electric vehicles, especially for medium- and heavy-duty transportation, can help provide companies and California a reliable and resilient path to reduce greenhouse gas and nitrogen oxide emissions and improve air quality in our local communities," says Don Widjaja, vice president of Customer Energy Solutions at SoCalGas. "Continued investment and advancements in zero greenhouse gas emissions technologies like hydrogen can help accelerate decarbonization efforts in agriculture, round-the-clock operations at the ports, and regional and long-haul trucking operations." Last year, Kenworth and Toyota completed a joint pilot program at the Port of Los Angeles where Kenworth customers operated 10 prototype T680 hydrogen FCEV trucks in a real-world setting. The program's success laid the foundation for Kenworth and Toyota engineers to develop the T680 FCEV that is the focus of its commercialization plans. The T680 FCEV is powered by Gen 2 Toyota Fuel Cells with 60kG of onboard compressed hydrogen storage behind the cab. The fuel cell stacks provide power to a 310kW electric motor, bolstered by 200kW of onboard battery storage, that together efficiently provide 415 continuous horsepower with a range up to 450 miles on a single hydrogen fill. "Kenworth is proud to pioneer one of the longest driving ranges of zero emissions trucks on the market," said Kevin Haygood, Kenworth assistant general manager for sales and marketing. "With quick refueling, our regional and long-haul customers can achieve round-the-clock operations with an option that reliably and sustainably decarbonizes their fleet." Also on display at the booth is one of SoCalGas' zero emissions hydrogen fleet vehicles, the Toyota Mirai, which uses a hydrogen fuel cell to generate the electricity that powers the vehicle. The latest 2023 model has a range of up to 402 miles, with city/highway milage of up to 76/71 mpg equivalent respectively. "The Japanese word Mirai means 'future,' and our cutting-edge Mirai helped shine a light on how hydrogen can provide a viable pathway to a zero emissions future for company fleets," said Thibaut de Barros Conti, general manager Fuel Cell Solutions, Toyota Motor North America. "Because of the scalability of our hydrogen-powered fuel cell electric technology, we were able to integrate it into the Kenworth T680 truck to highlight how commercial customers can reduce their carbon footprint, operate more sustainably, and still maintain current range and refueling expectations." SoCalGas has exhibited at every World Ag Expo since its inception in 1968, and the company's booth is located at the corner of H & Median Street. There is also a 30-foot shovel on display to emphasize the importance of calling 811 prior to beginning any project that involves digging. Call 811 or click here before digging, and follow 811 safety tips during your project. Learn more about SoCalGas' sustainability efforts at https://www.socalgas.com/sustainability. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. We believe gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on X (formerly Twitter) (@SoCalGas), Instagram (@SoCalGas) and Facebook. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other governmental and regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, and (iii) obtaining third-party consents and approvals; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which continue to become more pronounced; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; failure of our counterparties to honor their contracts and commitments; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of the clean energy transition in California; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company

Sempra Named to JUST 100 List for America's Most JUST Companies of 2024

Ranks top 10 in utilities sector for corporate responsibility SAN DIEGO, Feb. 8, 2024 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) has been named to the JUST 100 list by CNBC and JUST Capital, which honors companies with a strong commitment to serving its workers, customers, communities, the environment and shareholders. Sempra's position on the list was highlighted by strong marks in the worker and community categories, recognizing how the company supports its communities through local job creation and charitable giving as well as how the company invests in its employees through areas like career development and diversity and inclusion. Among other strong performance areas, Sempra ranked first amongst its peers in health and safety policies, customer treatment, opportunities for local businesses, and employee-led giving and volunteering. "We are honored to be recognized by CNBC and Just Capital for our commitment to ethical business practices and keeping our stakeholders top of mind as our companies deliver energy to nearly 40 million consumers," said Lisa Larroque Alexander, senior vice president of corporate affairs and chief sustainability officer at Sempra. "It is especially gratifying to see Sempra achieve several high marks across a diverse set of categories, which reinforces our belief that responsible business practices can help deliver long-term value to our shareholders and other stakeholders." For the annual rankings, JUST Capital evaluated the 1,000 largest public U.S. companies across 20 issues identified through comprehensive, ongoing public opinion research on Americans' attitudes toward responsible corporate behavior. Among the notable achievements acknowledged by the rankings are the Sempra family of companies' efforts to invest $2.4 billion with small and diverse-owned businesses in 2022, creating economic opportunities in underrepresented communities. In addition to the JUST 100, Sempra has earned a place in the Dow Jones Sustainability North America Index for 13 consecutive years. Sempra's other recent accolades include placing on Newsweek's list of America's Most Responsible Companies and being named one of The Wall Street Journal's Best-Managed Companies for 2023. Details of Sempra's approach to responsible stakeholder engagement and corporate governance can be found in the company's most recent Corporate Sustainability Report, which is available here. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy market. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America and in The Wall Street Journal's Best Managed Companies. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra

Sempra Infrastructure and Japan Bank for International Cooperation to Develop Strategic Collaboration in Support of the Energy Transition

HOUSTON, Feb. 2, 2024 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), today announced that it has entered into a memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) to cooperate on opportunities to advance the energy transition. Through this MOU, Sempra Infrastructure and JBIC aim to further project structuring to improve the global energy supply chain through liquefied natural gas (LNG), hydrogen and other decarbonization efforts in both the United States and Japan. "Sempra Infrastructure is thrilled to expand its collaboration with JBIC as we look forward to advancing projects that lower the carbon intensity of our energy delivery assets in North America," said Justin Bird, CEO of Sempra Infrastructure. "We have built our relationships with customers and the export credit agencies in Japan over the past decade and are excited to expand our relationship with JBIC as we continue developing projects in support of our net-zero business. This collaboration will help us continue advancing our mission of developing energy infrastructure that provides access to safe, secure and affordable energy to our global partners." The Sempra family of companies have partnered in various ways with Japanese companies for half a century. More recently, these partnership efforts are reflected in Sempra Infrastructure's Cameron LNG facility and recently announced strategic collaboration with a Japanese consortium, which calls for an evaluation of potential enhancements of the energy supply chain in support of decarbonization through e-natural gas as part of the ReaCH4 Project. In addition, the company is developing the Hackberry Carbon Sequestration Project, which contemplates the participation of two Japanese companies. Both development projects are in close geographical proximity to the Cameron LNG facility. The U.S. Department of Energy and Japan's Ministry of Economy, Trade and Industry are currently implementing a Memorandum of Cooperation (MOC) in the field of carbon capture, storage, conversion and recycling, and carbon dioxide removal. The MOU between Sempra Infrastructure and JBIC is intended to help Sempra Infrastructure and its customers in Japan meet many of the objectives of the MOC and helps support further efforts between the two countries to advance decarbonization efforts. As Japan's policy-based financial institution, JBIC has articulated a mission to continue to financially support the creation of business opportunities for Japanese companies and the securing of a stable supply of energy. The referenced MOU is a preliminary, non-binding arrangement, and the development of any project in connection with the MOU is contingent upon completing the required commercial agreements, securing and/or maintaining all necessary permits, obtaining financing, and reaching a final investment decision, among other factors and considerations. About Sempra Infrastructure Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a better world by developing, building and operating, and investing in clean power, energy networks, and LNG and net-zero solutions that are expected to play a crucial role in the energy systems of the future. Through the combined strength of its assets in North America, Sempra Infrastructure is connecting customers across the globe to modern energy infrastructure to source and transport renewables and natural gas, while advancing carbon sequestration and clean hydrogen. For more information about Sempra Infrastructure, please visit www.SempraInfrastructure.com and social media. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, and other actions by the (i) U.S. Department of Energy, Comisión Reguladora de Energía, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service and other governmental and regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures and other significant transactions, including risks in (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, and (iv) obtaining third-party consents and approvals; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on growth; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to tax and trade policy and the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which continue to become more pronounced; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; failure of foreign governments, state-owned entities and our counterparties to honor their contracts and commitments; the impact on our ability to pass through higher costs to customers due to volatility in inflation, interest and foreign currency exchange rates and commodity prices; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure and Sempra Infrastructure Partners are not the same company as San Diego Gas & Electric Company or Southern California Gas Company, and none of Sempra Infrastructure, Sempra Infrastructure Partners nor any of its subsidiaries is regulated by the California Public Utilities Commission. SOURCE Sempra Infrastructure

Sempra Named One of World's Most Admired Companies by Fortune Magazine

2024 recognition marks Sempra's 14 th consecutive year on Fortune's list SAN DIEGO, Feb. 1, 2024 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) has been named one of the World's Most Admired Companies for 2024 by Fortune Magazine, marking the 14 th year the company has been recognized as a top global business with strong corporate reputation. "We are honored to be recognized as one of the World's Most Admired Companies, underscoring the strength of Sempra's high-performance culture and progress in building a leading North American energy infrastructure company," said Jeffrey W. Martin, chairman and CEO of Sempra. "Sempra is committed to delivering energy with purpose and building modern energy networks that connect people to safe, reliable and cleaner energy." Sempra's three growth platforms – Sempra California, Sempra Texas and Sempra Infrastructure – help deliver energy to 40 million consumers, representing roughly 10% of the U.S. population. Sempra's regulated utilities have been recognized for leadership in safety, sustainability, and grid reliability. Other areas of recognition include wildfire prevention and furthering the adoption of cleaner fuels like renewable natural gas and hydrogen. Its infrastructure business is helping improve energy security and the decarbonization of the power sector globally through liquefied natural gas exports, clean power and proposed net-zero projects throughout North America. Sempra's continued designation as a World's Most Admired company reflects these ongoing efforts to fulfill people's energy needs and modernize infrastructure for a cleaner future. To select companies for the annual World's Most Admired Companies list, Fortune partnered with Korn Ferry to ask executives, directors, and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America and in The Wall Street Journal's Best Managed Companies. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra

Sempra to Report Fourth-Quarter and Full-Year 2023 Earnings February 27

SAN DIEGO, Jan. 29, 2024 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) plans to release its fourth-quarter and full-year 2023 earnings by 7 a.m. ET, Tuesday, Feb. 27. The announcement will also include an update on Sempra's five-year capital plan. Jeffrey W. Martin, chairman and CEO, Karen Sedgwick, executive vice president and chief financial officer, and other senior leaders from across the company will host a conference call at 12 p.m. ET, Tuesday, Feb. 27. Investors, media, analysts and the public may listen to a live webcast of the conference call by registering on the Investors section of the company's website and clicking on the appropriate link. An accompanying slide presentation detailing the earnings results and capital plan update will be published to Sempra's Investors site by 7 a.m. ET, Tuesday, Feb. 27. For those unable to obtain access to the live webcast, it will be available on replay a few hours after its conclusion. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy market. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America and in The Wall Street Journal's Best Managed Companies. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra

SoCalGas Declares Preferred Dividends

LOS ANGELES, Jan. 24, 2024 /PRNewswire/ -- The board of directors of Southern California Gas Co. (SoCalGas) has declared regular quarterly dividends for the preferred series stock of the company as follows: SoCalGas: Preferred StockPreferred Stock, Series A $0.375 per share$0.375 per share The dividends are payable on April 15, 2024, to shareholders of record on March 10, 2024. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on X (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

SoCalGas Supports Nostromo Energy's Installation of an Innovative Energy Storage Solution Designed to Enhance Grid Resilience and Lower Energy Expenses at Beverly Hilton and Waldorf Astoria Hotels

The IceBrick System could reduce the hotels' energy bills and greenhouse gas emissions LOS ANGELES and IRVINE, Calif., Jan. 22, 2024 /PRNewswire/ -- Southern California Gas Company (SoCalGas) today announced the successful installation of an innovative energy savings solution at the Beverly Hilton and Waldorf Astoria hotels, that helps reduce the need for air conditioning during peak electric demand, reducing greenhouse gas emissions, energy use, and costs. Nostromo Energy's IceBrick system will receive incentives from the California Public Utilities Commission's (CPUC) Self-Generation Incentive Program (SGIP), which is administered by SoCalGas. SoCalGas assisted Nostromo Energy in applying for the incentive funding and in the project's technical development. The SGIP program now includes Large Thermal Energy Storage Systems, with Nostromo Energy's system being the first approved for participation under this category. "SoCalGas supports a variety of innovations aimed at bolstering the strength and resilience of our energy grid," said Don Widjaja, Vice President of Customer Solutions at SoCalGas. "The IceBrick system serves as a prime example, as it not only helps advance California's climate goals, but helps address the challenges of electricity demand fluctuations throughout the day. Through collaboration with various industry stakeholders, we're supporting diverse solutions with the goal to obtain a more reliable, resilient, and sustainable energy future." Nostromo Energy's technology uses electricity from the grid during off-peak hours – a time when the grid relies more on renewable sources like solar and wind – to convert water into ice. This "cold energy" is stored in modular cells and is later released during peak demand hours. This method can cool the building's air conditioning system without relying on power-intensive chillers. "We're thrilled to work with SoCalGas and the Self Generation Incentive Program. Our IceBrick technology is a breakthrough – buildings can be retrofitted to store and discharge megawatt hours of electricity , cutting cooling costs during peak hours and providing critically-needed demand flexibility to the power grid," said Boaz Ur, Nostromo's Chief Business Development Officer. "Using Nostromo's technology, utilities can continue to work with their largest commercial and industrial customers to save on energy costs, reduce carbon emissions, and gain resilience." SGIP is designed to incentivize generation and storage technologies, including projects fueled by renewable natural gas (RNG) and hydrogen, which aim to reduce greenhouse gases, increase grid reliability, and provide customer bill savings and resiliency during electric grid-outage events. Since its inception, SoCalGas has supported nearly 4,000 projects that have applied for more than $300 million in incentives. These types of energy storage and cleaner fuel-powered technologies highlight the diverse solutions available to decarbonize customer end-uses. In line with these efforts, SoCalGas' energy efficiency programs have also generated over $1 billion in avoided energy costs and have reduced greenhouse gas emissions by 1.2 million metric tons of carbon dioxide, the equivalent of removing more than 250,000 cars annually. SoCalGas is among the first and largest natural gas utilities in the United States to announce its aim to have net-zero greenhouse gas emissions by 2045. The company was awarded the top "Business Transformation Award" at Reuters Events' 2022 Responsible Business Awards for having established truly transformative sustainability priorities with the potential to create impact at scale in the energy sector and beyond. To learn more about the SGIP program click here. For access to other SoCalGas customer savings programs and incentives click here. About SoCalGasHeadquartered in Los Angeles, SoCalGas ® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. We believe gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replace 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. About Nostromo Energy Nostromo Energy's ice-based energy storage solution is redefining energy storage for commercial and industrial buildings, helping them become sustainable energy storage assets, and reduce energy costs and carbon emissions. The Nostromo IceBrickⓇ system uses ice to store energy when electricity prices are low and renewable energy is abundant, and discharge the energy to avoid purchasing electricity that is carbon intensive and expensive. In this way, Nostromo helps accelerate the renewable revolution and paves the way to a carbon free electric grid, while offering a safe, clean and financially beneficial system to building owners. The IceBrickⓇ is non-flammable, modular and compact, easily retrofitted to existing commercial and industrial buildings. To learn more about Nostromo, visit www.nostromo.energy. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other governmental and regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, and (iii) obtaining third-party consents and approvals; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which continue to become more pronounced; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; failure of our counterparties to honor their contracts and commitments; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of the clean energy transition in California; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website,  www.sec.gov, and on Sempra's website,  www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company

Sempra Named One of The Wall Street Journal's Best-Managed Companies for 2023

SAN DIEGO, Dec. 21, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) has again made The Wall Street Journal and Drucker Institute's annual 250 Best Managed Companies list for 2023. The Drucker Institute measures corporate effectiveness by examining performance in five areas: Financial strength, customer satisfaction, employee engagement and development, innovation and social responsibility. This is the fifth time Sempra has been named to the best-run companies list. "We are honored to be recognized on the Best Managed Companies list among some of the most reputable global brands that are also helping to shape the future of America's economy," said Jeffrey W. Martin, chairman and CEO of Sempra. "This recognition underscores our high-performance culture, bringing together the unique perspectives and talents of 20,000 colleagues who are dedicated to providing service to customers and communities, and value to all stakeholders." The Management Top 250 ranking, developed by the Drucker Institute and published by The Wall Street Journal, is based on an analysis of 34 data inputs provided by 14 third-party sources. Sempra's overall ranking reflects its ability to navigate the current business and energy climate, while helping meet the evolving energy needs of 40 million consumers and bringing value to shareholders and stakeholders. Sempra ranked first amongst its peer group for employee engagement, a reflection of the company's high-performance culture that drives innovation and operational excellence. In addition to this recognition, Sempra has been named one of Fortune Magazine's World's Most Admired companies and to Newsweek's list of America's Most Responsible Companies. The company has also earned a place in the Dow Jones Sustainability North America Index for 13 consecutive years, among other notable accolades. These honors underscore Sempra's continued progress on its mission to be North America's premier energy infrastructure company. About Sempra Sempra is a leading North American energy infrastructure company that helps meet the daily energy needs of nearly 40 million consumers. As the owner of one of the largest energy networks on the continent, Sempra is helping to electrify and decarbonize some of the world's most significant economic markets, including California, Texas, Mexico and the LNG export market. The company is also consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performance culture focused on safety and operational excellence, leadership and workforce development and diversity and inclusion. In 2022, Investor's Business Daily named Sempra the top-ranked utility in the U.S. for environmental, social and governance scores and financial performance. Sempra was also included on the Dow Jones Sustainability North America Index for the 13th consecutive year. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra

Additional 88 Local Restaurants Receive $5,000 Assistance Grants Through Restaurants Care Resilience Fund

This is the 2 nd Round of Restaurant Grants awarded this year with the support of SoCalGas' $1,000,000 Donation to the Restaurants Care Resilience Fund to support small businesses and drive positive change in diverse communities across Central and Southern California LOS ANGELES, Dec. 19, 2023 /PRNewswire/ -- Today, 88 independently owned restaurants across Central and Southern California received $5,000 grants from the California Restaurant Foundation's (CRF) Restaurants Care Resilience Fund. Each restaurant receiving a grant can use the funds for equipment and technology upgrades, unforeseen hardship, employee retention bonuses and employee training, helping California's independent restaurant owners to continue their businesses during challenging times. The $2.1 million fund, supported by SoCalGas with a $1,000,000 donation, and other California utility companies, is the largest to date in terms of overall funding, individual grant sizes and grant utilization, and has provided a total of 177 grants to restaurants in SoCalGas' service area this year. Eligibility for grants is limited to independent restaurants with no more than five locations and less than $3 million in annual revenue. Of the 88 grant recipients in SoCalGas' service area, 63% of this year's grant winners self-identified as women-owned and 88% self-identified as owned by people of color. About 67% of the grant funds are expected to be used for equipment and technology upgrades and around 33% of the $5,000 grants are designated for unforeseen hardships, employee training, and employee bonuses. To see the full list of grant recipients, please visit the Restaurants Care Resilience Fund website. "As part of our longstanding commitment to the communities we serve, SoCalGas is proud to donate to the California Restaurant Foundation's Restaurants Care Resilience Fund for the third consecutive year," said David Barrett, SoCalGas senior vice president, general counsel, and California Restaurant Foundation board member. "The fund supports independent restaurants, which are integral to our local communities, and the foundation's grants are specifically designed to improve the livelihoods of local restaurant owners and their dedicated staff." "SoCalGas has been an outstanding partner, providing steadfast and invaluable support for the Restaurants Care Resilience Fund since its inception in 2021. As a result, hundreds of independent restaurant owners across SoCalGas' service area have been able to fortify their businesses for the long haul," said Alycia Harshfield, Executive Director of California Restaurant Foundation. "We are excited to provide more restaurant owners with access to $5,000 grants, which can be used for various purposes such as adopting technology, upgrading equipment, facilitating employee training and retention, or overcoming unforeseen challenges." "The collaborative efforts of SoCalGas and the California Restaurant Foundation are making a meaningful difference in the livelihoods of small business proprietors, their workforce, and the communities these restaurants enrich," said Rancho Cucamonga Mayor L. Dennis Michael. "By championing this initiative, SoCalGas is fostering the prosperity of our cherished local eateries, helping to ensure their sustained success for years to come." "I'm thrilled to have one of the restaurants in Placentia chosen for the restaurant grant. Not only did our restaurants suffer greatly during the pandemic, but they also continue to have difficulties in the ever-changing economic environment, and the different choices people are making on how they spend their disposable income. The health and vitality of our small businesses, such as Tlaquepaque, are key to the future of Placentia. I'm grateful that SoCalGas continues to reinvest in our communities in such a tangible way," said Rhonda Shader, City of Placentia Council Member, District 1. Since its inception, the Resilience Fund has awarded over 1,100 grants to independently owned restaurants across California. Among them, 68% self-identified as women-owned, and 83% self-identified as owned by people of color. "For seven years, Cheesewalla has provided a new restaurant style with delicious and reliable experience for our guests. Thanks to this grant from SoCalGas and California Restaurant Foundation, we will expand our business, acquiring new fryers and broilers for our new cocktail bar's food menu," said Kadir Fakir, Co-Owner of Cheesewalla. "We are so grateful that we will be able to grow as a company, bring in more staff, and most importantly, connect with our close-knit Redlands community." In addition to providing financial support to restaurants through its donations to the foundation, SoCalGas offers programs and services to help business customers select energy-efficient equipment. Restaurant owners can schedule a 'Try Before You Buy' demo with natural gas cooking equipment before purchasing, request a no-cost energy survey to be conducted by a utility expert, and obtain information on rebates and incentives for eligible energy efficient natural gas cooking equipment, water heating, heat recovery products, and energy-efficient upgrade installation. SoCalGas' support of the California Restaurant Fund is part of the company's ASPIRE 2045 sustainability goals, which include a plan to invest $50 million to help drive positive change in diverse and underserved communities across five years. For more information about the California Restaurant Foundation or their Restaurants Care Resilience Fund, please visit www.restaurantscare.org. More media assets per region can be found here. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas is committed to the goal of achieving net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on X (@SoCalGas), Instagram (@SoCalGas) and Facebook. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other governmental and regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, and (iii) obtaining third-party consents and approvals; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which continue to become more pronounced; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; failure of our counterparties to honor their contracts and commitments; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of the clean energy transition in California; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website,  www.sec.gov, and on Sempra's website,  www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company

Sempra Named to Dow Jones Sustainability Index North America for 13th Consecutive Year

SAN DIEGO, Dec. 18, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) has been named to the Dow Jones Sustainability Index (DJSI) North America for the 13th consecutive year, earning recognition as a high performer in risk management, stakeholder engagement, policy influence, and information security/cybersecurity, among other areas. "Sempra's long tenure on DJSI North America highlights how responsible business practices help deliver long-term value to our shareholders and other stakeholders," said Lisa Larroque Alexander, senior vice president of corporate affairs and chief sustainability officer at Sempra. "With sustainability at the center of Sempra's strategy, we are working to modernize energy infrastructure in order to help decarbonize economies and enhance resilience for millions." The DJSI North America tracks the performance of the top 20% of the 600 largest Canadian and United States companies in the S&P Global Broad Market Index that lead the field in terms of sustainability. Sempra released its latest annual corporate sustainability report in May 2023, highlighting 25 years of advancing sustainable business practices. The company's sustainable business practices start at the top with sound governance and oversight by its board and cascade to all levels of the business. This integration drives a high-performance culture and has contributed to significant strides toward managing key risks and advancing opportunities across Sempra's three growth platforms — Sempra California, Sempra Texas and Sempra Infrastructure. In addition to being recognized on DJSI North America, Sempra has recently been included in the CPA-Zicklin Index and FTSE4Good Index. The company has also been named to the JUST 100, Fortune Magazine's World's Most Admired Companies, Newsweek's America's Most Responsible Companies and Forbes' America's Best Employers for Diversity, among others. More information regarding Sempra's approach to responsible business practices can be found on the sustainability section of Sempra's website. About Sempra Sempra is a leading North American energy infrastructure company that helps meet the daily energy needs of nearly 40 million consumers. As the owner of one of the largest energy networks on the continent, Sempra is helping to electrify and decarbonize some of the world's most significant economic markets, including California, Texas, Mexico and the LNG export market. The company is also consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performance culture focused on safety and operational excellence, leadership and workforce development and diversity and inclusion. In 2022, Investor's Business Daily named Sempra the top-ranked utility in the U.S. for environmental, social and governance scores and financial performance. Sempra was also included on the Dow Jones Sustainability Index North America for the 13th consecutive year. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra

SoCalGas and Bloom Energy Powering Caltech with Innovative Campus Hydrogen Project

The project demonstrates the potential to displace traditional natural gas with fuels like hydrogen, which can be made from clean renewable sources, and foster the many environmental and economic benefits of a hydrogen economy PASADENA, Calif., Dec. 14, 2023 /PRNewswire/ -- Southern California Gas Company (SoCalGas) and Bloom Energy (NYSE: BE), today announced the powering of a portion of Caltech's grid with an innovative hydrogen project that demonstrates how hydrogen could potentially offer a strong solution for long-duration clean energy storage and dispatchable power generation. The project showcases how leveraging existing infrastructure with electrolyzers and fuel cell technology may be able to create microgrids that deliver resilient power and can help to safeguard businesses, communities, and campuses from power disruptions. If developed at scale, this technology may help further California Governor Gavin Newsom's recent strategic initiatives to develop a hydrogen economy. "It is becoming clearer with each passing day that hydrogen can and should play a key role in California's efforts to reduce our reliance on fossil fuels," said Senator Bob Archuleta, Chair of the Senate Select Committee on Hydrogen Energy. "Moreover, I am excited to see Caltech, one of our nation's leading institutions, serving as a testbed for the use of hydrogen with this new and innovative technology on their campus." "This collaborative effort represents a significant step in harnessing hydrogen as a resilient, clean energy solution that's in line with Governor Newsom's vision for California," said Maryam Brown, President at SoCalGas. "Integrating cutting-edge electrolyzers and fuel cell technology into existing infrastructure demonstrates the potential for building robust microgrids, enhancing power resiliency for businesses, communities and campuses at scale." "We commend Governor Newsom and SoCalGas for their vision and leadership on the important work to develop the hydrogen economy," said Greg Cameron, President and Chief Financial Officer at Bloom Energy. "As a California manufacturer of Bloom Electrolyzers®, we are uniquely positioned to advance the goals of delivering clean and reliable energy in a post-carbon economy. We are working on a number of major opportunities to deliver our electrolyzers to customers to help grow hydrogen as a significant energy source in the U.S. and internationally." This project takes water from Caltech's service line and runs it through Bloom Energy's solid oxide electrolyzer, which uses grid energy to create hydrogen. The resulting hydrogen is injected into Caltech's natural gas infrastructure upstream of Bloom Energy fuel cells, creating up to a 20% blend of hydrogen and natural gas. All of this fuel blend is then converted into electricity with Bloom Energy's fuel cells, and the electricity is then distributed for use on campus. Blending hydrogen into natural gas infrastructure statewide – which could help reduce dependence on fossil fuels and ultimately drive down hydrogen costs by scaling production – first requires developing a hydrogen injection standard. The global hydrogen economy is projected to potentially produce as much as 80 gigatons of carbon abatement by 2050, which represents approximately 11% of required cumulative emissions reductions. 1 SoCalGas is working to help develop a state hydrogen blending standard by proposing pilot projects for approval by the CPUC. These projects could help to better understand how clean fuels like clean renewable hydrogen could be delivered through California's natural gas system. Just this year, SoCalGas unveiled its award winning H2 Innovation Experience, a state-of-the-art demonstration project designed to show the potential resiliency and reliability of a hydrogen microgrid. When coupled with renewable energy, clean hydrogen could help facilitate a scalable, resilient and decarbonized energy system. SoCalGas is working to help shape California's 21st century energy system through investments in hydrogen, renewable natural gas, fuel cells and carbon management. For more information about SoCalGas' hydrogen innovation, visit http://socalgas.com/hydrogen About SoCalGas Headquartered in Los Angeles, SoCalGas ® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. We believe gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. About Bloom Energy Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company's leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies around the world turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit  www.bloomenergy.com [bloomenergy.com]. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other governmental and regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, and (iii) obtaining third-party consents and approvals; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which continue to become more pronounced; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; failure of our counterparties to honor their contracts and commitments; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of the clean energy transition in California; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website,  www.sec.gov, and on Sempra's website,  www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. 1 https://www.mckinsey.com/capabilities/sustainability/our-insights/five-… SOURCE Southern California Gas Company

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