Slide 1: Q2 2022 Earnings Call
Q2 2022 Earnings Call May 9, 2022
Slide 2: Forward-Looking Statements
Forward-Looking Statements The statements in this presentation by RGC Resources, Inc. (the "Company") that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and u Thes
Slide 3: Agenda
Agenda Q Operational and Financial Highlights Q = 2022 Outlook Q Questions
Slide 4: Organizational Structure
Organizational Structure a) C Ck CSOULCES NASDAQ: RGCO C-Corp formed 1998 Roanoke Gas Q Local Distribution Company Q Partner in Mountain Valley Pipeline (LDC), located in Roanoke, VA (Mvp) Q Founded in 1883 Q Partner in Proposed MVP Southgate Project
Slide 5: Consolidated Financial Results
Consolidated Financial Results For the periods ended March 31, (Presented in thousands, except per share data) { Second Quarter ‘Twelve Months Ended | [2022 [202 2022 | 202a_—«| Operating revenues $ 29530 $ 28,254]$ 80,197 $ 68,623 Operating expenses 22,086 21,154 65,278 55,505 Operating income 7,44
Slide 6: Consolidated Underlying Financial Results
Consolidated Underlying Financial Results For the periods ended March 31, (Presented in thousands, except per share data) [ Second Quarter Twelve Months Ended _| [2022 2021 2022 | 2021 ~—«| Consolidated NetIncome/(Loss) $ (24,494) $ 4,767 1 $ (20,299) 10,368 Non-cash Impairment, Net. 29,572 = 29,572
Slide 7: Roanoke Gas YTD CapEx
Roanoke Gas YTD CapEx $10.5 $8.5 Other Capital $2.1 a» $65 s Customer “ Growth & ‘System Expansion 2. 2° $57 $0.5 $1.8 million or 19.8% increase
Slide 8: Q2 Gas Volumes
Q2 Gas Volumes DTH Delivered 2,500 92.2022 maz 2021 Residential Commercial Industrial 2022 vs 2021 Total Volumes Industrial Volumes Heating Degree Days
Slide 9: YTD Gas Volumes
YTD Gas Volumes DTH Delivered YTD 2022__ wYTD 2021 3,500 3,000 2 2,500 3 2,000 * 1,500 1,000 500 Residential Commercial Industrial 2022 vs 2021 Total Volumes 1% Residential (4%) pa Commercial & Industrial 4%
Slide 10: Customer Growth
Customer Growth 63,000 total customers 3.2 miles main 428 services
Slide 11: 2022 Outlook
2022 Outlook LJ) Capital L} mvp L} Dividend SAVE Infrastructure Rider $ 68 Customer Growth & System Expansion Utility Maintenance 5.0 Total $24.6
Slide 12: Mountain Valley Pipeline
JA Mountain V IPELINE OU) Project over 94% complete F Operator Guidance = $6.6 billion budget = Second-half 2023 in- service —
Slide 13: Earnings Per Share Analysis
Earnings Per Share Analysis $1.40 $1.30 $1.20 $1.10 $1.00 $0.90 $0.80 $0.70 $1.30 Implied Dividend Payout Ratio: 76.5% 81.3% 2019 2020 2021 2022 Actual Actual Actual Forecast Underlying MEPS (net Midstream) fi Midstream EPS Range
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