Northwest Natural Company (NWN) Investor presentation summary

Financial performance and outlook

• Reported strong first half 2026 results, expecting full-year EPS in the upper half of $2.95–$3.15 guidance range.

• Reaffirmed long-term EPS CAGR target of 4%–6%, with potential to reach 5%–7% including MX3 storage project.

• Multi-state utility platform with robust capital investment plan of $2.6–$2.9 billion by 2030.

• 2026–2030 rate base CAGR expected at 6%–8%, supporting safety and growth.

• 70-year legacy of consistent dividend growth, targeting a payout ratio of 55%–65%.

Business segments and growth drivers

• Natural gas utility serves 2 million people in Oregon and Washington, recognized for safety and service.

• SiEnergy in Texas serves over 90,000 customers, with 15%–20% customer growth and 20%–25% rate base CAGR.

• Water utility operates in six states, serving 200,000 people, with 10%–15% rate base CAGR.

• Growth driven by organic expansion, acquisitions, and greenfield developments.

• Strategic focus on regulatory outcomes, storage expansion, and capturing Texas growth.

Regulatory and infrastructure initiatives

• New rates effective August 2026 in Washington; constructive engagement in Oregon and Texas rate cases.

• Four open rate cases at NW Natural Water, including largest utility Foothills.

• Proven track record of successful regulatory outcomes, with timely investment recovery.

• Capital expenditures prioritize safety, reliability, and new customer connections.

• Ample liquidity and strong credit ratings support ongoing investment.