ONE Gas (OGS) investor relations material

Business overview and market position

• Operates as a fully regulated natural gas utility serving 2.3 million customers across Kansas, Oklahoma, and Texas, with leading market shares in Kansas (72%) and Oklahoma (89%), and is the third largest in Texas (13%).

• Largest distribution markets include Oklahoma City, Tulsa, Kansas City, Wichita, Topeka, Austin, and El Paso.

Strategic priorities and growth drivers

• Pursues a clear growth strategy with a balanced customer mix and ongoing investments in workforce and technology to enhance safety and efficiency.

• Regional economic momentum and supportive regulatory frameworks drive expansion opportunities, especially in fast-growing metros.

• Focuses on affordability, reliability, and community partnerships to support long-term customer relationships.

Financial outlook and capital investments

• 2026 adjusted net income guidance is $306–$314 million, with adjusted EPS of $4.83–$4.95 per diluted share.

• Plans ~$800 million in 2026 capital investments, with $230 million for customer growth and an average rate base of ~$6.4 billion.

• Expects $250–$300 million in net financing needs for 2026 and ~$1.3 billion through 2030, with about 30% from equity issuances.

• Long-term adjusted net income growth targeted at 7–9% and EPS growth at 5–7% annually through 2030.