Slide 1: Q4 2024 Earnings Call
Q4 2024 earnings Call December 5, 2024
Slide 2: Forward-Looking Statements
Belielie Tele dile Statements in this tain forward: that relate to future transactions, events or expectations. In addition, Resources may announce or publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, eee ee inflation, rate making,
Slide 3: Agenda
Agenda Q Operational and Financial Highlights Q Regulatory Q Fiscal 2024 Q 2025 Outlook Q Questions
Slide 4: Regulatory Update
Regulatory Update Rate Case Q $4.08M additional annual revenue Q 9.90% ROE, 59% equity ratio Q 5-year Depreciation Study approved Q~ Expect final order Q2 2025 tc b
Slide 5: Customer and Infrastructure Growth
Customer and Infrastructure Growth Expansion Renewal 2.5 miles main 5.4 miles main 631 services 412 services
Slide 6: QTD Gas Volumes
QTD Gas Volumes DTHs Delivered 042024 mQ4 2023 Thousands 8 600 400 200 Residential Commercial Industrial Q4 2024 vs Q4 2023 Total Volumes (5%) Commercial & Industrial Volumes (4%) Heating Degree Days 12vs8
Slide 7: Full-Year Gas Volumes
Full-Year Gas Volumes DTHs Delivered 2023 2024 4,000 3,500 # 3,000 § 2,500 3 2,000 1,500 1,000 500 : Residential Commercial Industrial 2024 vs 2023 Total Volumes (1%) Commercial & Industrial Volumes -% Heating Degree Days (6%)
Slide 8: Roanoke Gas CapEx
Roanoke Gas CapEx $3.2 million or 12.7% decrease SAVE Rider $10.4 Customer Growth & System Expansion $4.4 Utility IT Upgrades $4.1
Slide 9: Consolidated Financial Results
Consolidated Financial Results For the periods ended September 30, (Presented in thousands, except per share dat ‘Three Months Ended ‘Twelve Months Ended [__2024 | 2023 2024 [2023 Operating revenues $ 13104 $ 12,468]$ 84,641 $ 97,440 Operating expenses 12,861 11,723 67,559 79,761 Operating income 24
Slide 10: 2025 Outlook
2025 Outlook Q Growth Q Capital Q Drivers Q Earnings Per Share
Slide 11: 2025 Growth
2025 Growth Q New housing Q Carilion, VTC, FBRI Medical Corridor Q Industrial and commercial Q Franklin County
Slide 12: 2025 Capital Forecast
2025 Capital Forecast SAVE & Renewals S$ 95 Utility & IT Upgrades 5.6 Customer Growth & 41 System Expansion MVP Growth 2.4 Total $21.6
Slide 13: 2025 Drivers
2025 Drivers = New rates address inflation = Prudent expense management = Interest rates trending favorably RGC Midstream contribution to EPS modest $3.2M expected cash from MVP Dividend raised 3.8% to $0.83/share
Slide 14: Earnings Per Share
Earnings Per Share $130 Som? Dividend Payout Ratio: $1.18 ex guaz | 70% $1.06 $1.00 2024 Actual 2025 Forecast EPS Range
Slide 15: as
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