Q3-23 Presentation

Third Quarter 2023 Earnings Results

November 3, 2023

Information Regarding Forward-looking Statements

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this presentation. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.

In this presentation, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations.

Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by the (i) California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, U.S. Internal Revenue Service and other governmental and regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures and other significant transactions, including risks in (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, and (iv) obtaining third-party consents and approvals; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to tax and trade policy and the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which continue to become more pronounced; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; failure of foreign governments, state-owned entities and our counterparties to honor their contracts and commitments; the impact on affordability of San Diego Gas & Electric Company's (SDG&E) and SoutheCalifornia Gas Company's (SoCalGas) customer rates and their cost of capital and on SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of the clean energy transition in California, and (iii) with respect to Sempra Infrastructure's business, volatility in foreign currency exchange rates; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, pipeline system or limitations on the withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control.

These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.

Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.

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Table of Contents

• Executive Summary
• Business Updates
• Financial Results
• Closing Remarks

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Executive Summary

• Strong positions in some of the most attractive markets in North America
• Infrastructure investments improving safety, reliability, and access to cleaner forms of energy
• Prudent balance sheet management reducing interest rate exposure
• Continuing strong financial performance across all three growth platforms
• $40B five-year capital plan to be updated on Q4 call and expect 10% - 20% increase focused on utility investments1

Financial Updates2

Business Updates | Sempra Texas

Strong Operational Performance

• Oncor accomplishments in Q3
• • Connected ~20,000 additional premises
  • Built, re-built, and upgraded ~630 miles of T+D lines
  • Improved SAIDI by 9% - representing reduced restoration time and increased reliability for customers1

Constructive Regulatory Environment

• Texas completed constructive legislative session for T+D utilities
• SB 1015 - Oncor filed 2nd DCRF in September; expected to reduce regulatory lag; substantially all CapEx now recoverable through capital trackers2
• HB 2555 - Designed to improve system resiliency and reliability for customers, and allows for recovery of necessary investments in rates; expect rulemaking to be complete in Q4-2023 with initial Oncor system resiliency plan filing targeted Q1-2024

High Growth Potential

1. • Oncor is one of the largest pure-play T+D utilities in the U.S. with long-term annual premise growth of 2%3
   • ERCOT set 10 peak demand records this summer with new all-time peak of 85 GW, representing 16% growth since 20184
   • Total Permian Basin load demand projected to increase from 4.2 GW to 17.2 GW by 20325
   • Significant C&I growth in Oncor service territory evidenced by ~34% year-over-year increase in active transmission point of interconnection requests
2. SAIDI refers to System Average Interruption Duration Index performance for the 12 months ended September 30, 2023 as compared to the same period in 2022. SAIDI is calculated as the average number of minutes electric service is interrupted per consumer in 12 months.
3. Capex subject to commission review at next base rate review.
4. Based on T+D miles in service territory presented in company materials. Based on Oncor's average premise growth of ~2% per year from 2018-2022.
5. ERCOT News Release September 14, 2023. All-time peak demand record of 85 GW on August 10, 2023. July 2018 peak demand was 73 GW. |5

5. 2023 S&P Global Report prepared for ERCOT planning committee.

Business Updates | Sempra California

Strong Operational Performance

• SDGE awarded "Best in the West" 18 years in a row and national Grid Sustainability award1
• 35% year-over-year increase in EVs in SDGE's service territory2
• Palomar Hydrogen Blending Project commissioning in November3
• SoCalGas expecting to meet CA's 2030 methane emissions reduction goal of 40% 5-years early4

Constructive Regulatory Environment

• Requested CPUC adoption of 2024 GRC settlement agreements reached with key intervenors on certain portions related to safety and reliability - PD anticipated Q2-20245
• SB 410 allows recovery of additional energization spend between GRC cycles, designed to reduce regulatory lag
• CPUC approved increase in Aliso Canyon's authorized storage capacity from 41.2 Bcf to 68.6 Bcf, which is expected to improve reliability and customer affordability
• CCM triggered - SDGE and SoCalGas each filed advice letters to increase ROEs by 70 bps6

High Growth Potential3

7. The award is preliminary and subject to change based on award negotiations between ARCHES and DOE.