RGC Resources Inc.

Good morning, everyone, and thank you for joining us as we discuss RGC Resources 2024 third quarter results. I am Tommy Oliver, Senior Vice President, Regulatory and External Affairs for RGC Resources. I am joined this morning by Paul Nestor, President and CEO of RGC Resources, and Tim Mulvaney, our VP, Treasurer, and Chief Financial Officer. Before we begin, I want to review a few administrative items. First, we have muted online and ask that all participants remain muted. Two, the link to today's presentation is available on the Investor and Financial Information page of our website at www.rgcresources.com. Third, at the conclusion of the presentation, in our remarks, we will take questions. So let's turn to slide one. This presentation contains forecasts and projections. Slide one has information about risks and uncertainties, including forward-looking statements that should be understood in the context of our public violence. Slide two contains our agenda. We will discuss the MVP, review our quarterly operational and financial results, provide a regulatory update, discuss the outlook for full year fiscal 24, and provide a brief comment on fiscal 2025 with time allotted for questions at the end. So I'll turn the presentation over to Paul now to talk about the MVP.

Well, thank you, Tommy, and good morning, everyone. Thank you for joining us. We hope your day is off to a good start. We thought we would just end the suspense immediately in the earnings call and talk about Mountain Valley at the beginning. Hopefully you had the opportunity to see our press release issued on June 14th. declaring the MVP in service and, in fact, on that same day, receipt of the initial natural gas delivery into our Renault gas system. It's hard to believe, but we're almost two months in operation now as of this day. We're just so excited to have finally reached and achieved this milestone. Although gas flows started in mid-June, the shipper contracts for the capacity and demand charges did not go into effect on July 1st, and that was contemplated in those agreements. Tim's going to give us some additional color on how this transition from construction to pipeline operation will be reflected in our financial statements when he gives us his remarks shortly. Moving on to slide four, This is a picture we've used in some of our other presentations. You may have seen it, but it's what the Mountain Valley Pipeline right-of-way looks like once it has been restored and the vegetation has had an opportunity to take hold. As you can see, it's quite beautiful. The joint venture is completing the restoration along the entire right-of-way of the pipeline as we speak. One important point, once this restoration is finished, the construction project will also be deemed complete. And at that point, RGC Midstream's final ownership level will be set. In other words, our percentage of the operating earnings and the available cash flows from the joint venture will be locked in at that point in time. Moving to slide five, we've included a picture of our Lafayette interconnect. in today's presentation. That's one of our two interconnects to the Mountain Valley, the other being the Summit View Gate Station in Franklin County. Both interconnect stations are complete and, in fact, attached to MVP and gas is flowing. We've stated this for many, many years, but these stations will enable the additional firm capacity provided by MVP and contracted for by Roanoke Gas to enter the Roanoke Gas system. and of course to also provide gas through that. Some of you interconnect in Franklin County for the first time in Franklin County's history. We are working earnestly to connect our first customer in Franklin County and we expect that connection to be completed very, very soon. In fact, the picture on the agenda page that Tommy reviewed was from just a few weeks ago where we were installing the natural gas main in the Summit View Park downstream of the Summit View Gate Station. Finally, we're just going to mention this one last time. We really believe the Mountain Valley, now that it's operational, will spur economic development in this region. We're excited about that. We continue to actively participate with our Roanoke Regional Partnership and the Virginia Economic Development Partnership and the other localities, their economic development offices, to promote and enhance

economic development with that i'll turn it back to tommy well thank you paul and we're now on slide six um main extensions and renewals for the first nine months of 2024 fiscal year total 4.6 miles and we connected 478 new services in addition we renewed 319 services during that same period this reflects continued growth in our rate base and customer base now on slide seven where we're showing our delivered gas volumes for the quarter. Volumes overall were 6% lower compared to the third quarter of last year, with the decline attributable to the continuation of warmer weather throughout the third quarter of the 2024 fiscal year. This is very evident in the residential and commercial volumes, which are much more weather sensitive than industrial usage. Slide eight shows delivered gas volumes for the 2024 fiscal year to date. As shown, total volumes have remained steady compared to last year's comparable period. We're on slide nine now. Our CapEx spending totaled $16.6 million for the first nine months of fiscal 2024 compared to $19.4 million last year at the same time. This decrease is attributable to the $3.1 million spent in 2023 related to the RMG project. Paul will discuss the full-year capital spending projection shortly. I'm now going to turn it over to Tim Mulvaney, our treasurer, CFO, who will discuss our financial results. Tim.