Noah Hungness

Timothy Winter

Geoff Jay

John Freeman

Greta Drefke

Margaret Drefke

Zach Parham

Ati Modak

Zachary Parham

- National Fuel Gas Company (NFG) has entered into a definitive agreement to acquire CenterPoint’s Ohio natural gas utility business (CNP Ohio) for a total consideration of **$2.62 billion**.  **[70145_0001193125-25-245201_d939423dex991.htm:1]** 
- The acquisition is expected to close in the **fourth quarter of calendar 2026** and will significantly expand NFG's regulated assets, doubling its gas utility rate base to approximately **$3.2 billion** and increasing its customer base to about **1.1 million** across New York, Pennsylvania, and Ohio.  **[70145_0001193125-25-245201_d939423dex991.htm:1]** **[70145_0001193125-25-245201_d939423dex992.htm:1]** **[70145_0001193125-25-245201_d939423dex992.htm:2]** 
- The transaction is anticipated to be **immediately accretive to regulated earnings per share**, with consolidated adjusted operating results expected to be neutral in fiscal 2028, the first complete year after closing, and accretive thereafter.  **[70145_0001193125-25-245201_d939423dex992.htm:1]** **[70145_0001193125-25-245201_d939423dex991.htm:2]** **[70145_0001193125-25-245201_d939423dex992.htm:3]** 
- The financing plan includes a **$1.2 billion promissory note** with a **6.5% interest rate** and a 364-day maturity after closing, along with approximately **$300 to $400 million in equity**, all designed to maintain NFG's investment grade credit rating.  **[70145_0001193125-25-245201_d939423dex992.htm:1]** **[70145_0001193125-25-245201_d939423dex991.htm:2]**

National Fuel Gas Company to Acquire CenterPoint's Ohio Natural Gas Utility Business

- National Fuel Gas Company (NFG) has agreed to acquire CenterPoint's Ohio regulated gas utility business for **$2.62 billion**, which represents approximately **1.6x 2026E Rate Base**.  **[0000070145_2193157:5]** **[0000070145_2193157:7]** 
- The acquisition is expected to close in the **fourth quarter of calendar 2026** and will add approximately **335,000 customers** and **$1.6 billion in rate base** to NFG's regulated operations.  **[0000070145_2193157:5]** **[0000070145_2193157:7]** **[0000070145_2193157:8]** 
- The transaction is designed to **maintain NFG's existing investment grade credit ratings** and is expected to be **neutral to consolidated adjusted operating results in fiscal 2028** (the first complete year after closing) and **accretive thereafter**.  **[0000070145_2193157:5]** **[0000070145_2193157:6]** **[0000070145_2193157:7]** **[0000070145_2193157:10]** 
- This acquisition will increase NFG's total customers to approximately **1.1 million** and double its gas utility rate base to around **$3.2 billion** (2026E combined), diversifying its operations into Ohio's constructive regulatory environment.  **[0000070145_2193157:6]** **[0000070145_2193157:8]** **[0000070145_2193157:9]**

National Fuel Gas Company to Acquire CenterPoint's Ohio Gas Utility Business

- **National Fuel Gas Company (NFG)** has entered into a definitive agreement to acquire **CenterPoint Energy's Ohio Natural Gas Utility business** for **$2.62 billion** on a cash-free, debt-free basis.  **[0000070145_2193327_1]** 
- The acquisition is valued at approximately **1.6 times estimated rate base at year-end 2026** and will add **335,000 customers** and **$1.6 billion in rate base**, effectively **doubling NFG's existing utility business**.  **[0000070145_2193327_1]** 
- The transaction is expected to close in the **fourth quarter of calendar 2026**.  **[0000070145_2193327_1]** 
- Financing for the acquisition will include a **$1.2 billion promissory note** to CenterPoint, **$300 million to $400 million in common equity**, long-term debt, and expected future free cash flow from NFG's integrated upstream and gathering businesses.  **[0000070145_2193327_3]** 
- The deal is projected to be **immediately accretive to regulated earnings per share** (excluding transaction-related expenses) and **neutral to consolidated adjusted operating results in fiscal 2028**, with **accretion expected thereafter**.  **[0000070145_2193327_1]** **[0000070145_2193327_7]**

National Fuel Gas Company to Acquire CenterPoint Energy's Ohio Natural Gas Utility Business

- National Fuel Gas Company (NFG) has entered into a definitive agreement to acquire CenterPoint Energy's Ohio natural gas utility business for **$2.62 billion** on a cash-free, debt-free basis, implying a valuation of approximately **1.6x estimated rate base at year-end 2026**.  **[0000070145_2193347_1]** 
- The acquisition will add **335,000 customers**, over **5,900 miles of natural gas transmission and distribution pipelines**, and **$1.6 billion in rate base**, effectively **doubling the size of NFG's existing utility business**.  **[0000070145_2193347_1]** 
- The transaction is expected to close in the **fourth quarter of calendar 2026**, subject to HSR review and Public Utility Commission of Ohio review.  **[0000070145_2193347_1]** 
- NFG plans to finance the acquisition through **$300 million to $400 million in common equity**, issuance of **long-term debt**, and **free cash flow** from its upstream and gathering businesses, while maintaining its investment-grade credit rating.  **[0000070145_2193347_3]** **[0000070145_2193347_4]** **[0000070145_2193347_5]**  A **$1.2 billion promissory note** to CenterPoint will be issued at closing, maturing approximately one year later with a **6.5% interest rate**.  **[0000070145_2193347_3]** 
- The acquisition is expected to be **immediately accretive to the company's regulated earnings per share** (excluding transaction-related expenses) and **neutral to consolidated adjusted operating results in fiscal 2028**, becoming accretive thereafter.  **[0000070145_2193347_1]**

National Fuel Gas Company Announces Acquisition of CenterPoint Ohio Utility

- **National Fuel Gas Company** has agreed to acquire CenterPoint Energy's Ohio-based natural gas distribution business, Vectren Energy Delivery of Ohio, LLC, for **$2.62 billion**.  **[70145_5c91359b483b4924bb5d12ae779ea24c]** 
- The acquisition is expected to close in the **fourth quarter of 2026** and will **double National Fuel Gas Company's gas utility rate base**, expanding its operations into Ohio.  **[70145_5c91359b483b4924bb5d12ae779ea24c]** 
- The **$2.62 billion** sale price represents approximately **1.9 times** the projected 2024 rate base for the Ohio Local Distribution Company.  **[70145_5c91359b483b4924bb5d12ae779ea24c]** 
- CenterPoint Energy will receive **$1.42 billion** of the proceeds in **2026** and the remaining **$1.20 billion** in **2027** through a seller note.  **[70145_5c91359b483b4924bb5d12ae779ea24c]**

National Fuel Gas to Acquire CenterPoint Ohio Gas Business

- New Found Gold Corp. reported **high-grade gold mineralization** from its channel sampling program at the Iceberg excavation, part of the Queensway Gold Project, with notable results including **64.8 g/t Au over 6.71 m** and **23.9 g/t Au over 15.12 m**.  **[70145_20250925VA82490:0]** 
- The program confirmed **continuity of at-surface, high-grade gold mineralization** across **185 m** at Iceberg, a zone identified for Phase I custom milling in the Queensway Preliminary Economic Assessment.  **[70145_20250925VA82490:0]** 
- The company is advancing a **70,000 m drill program** (started May 2025) and plans further definition drilling at Iceberg, with an infill drill program targeting resource conversion expected to conclude in **Q4 2025**.  **[70145_20250925VA82490:0]** **[70145_20250925VA82490:1]** 
- New Found Gold has also recently agreed to acquire Maritime Resources Corp. and additional mineral claims from Exploits Discovery Corp., which would **expand the Queensway Project by up to 33%** to a total of **234,050 hectares**.  **[70145_20250925VA82490:6]**

New Found Gold Reports High-Grade Gold Channel Sample Results from Iceberg Excavation

- **New Found Gold Corp.** has appointed **Dr. Andrew Furey**, former Premier of Newfoundland and Labrador, as an **independent Director of the Board**, effective immediately.  **[70145_20250915VA73077:0]** 
- **Hashim Ahmed** has been appointed as **Chief Financial Officer (CFO)**, and **Robert Assabgui** as **Chief Operating Officer (COO)**, both effective immediately.  **[70145_20250915VA73077:0]** 
- These appointments are part of strengthening the management team as New Found Gold advances its path to production and evolves into an emerging Canadian gold producer.  **[70145_20250915VA73077:0]** 
- **Vijay Mehta** is stepping down from his role as Director, and **Michael Kanevsky**, the current Chief Financial Officer, will assist with the transition.  **[70145_20250915VA73077:0]**

New Found Gold Announces Board and Management Changes

- New Found Gold announced that its Phase III Metallurgical Testing Program confirmed an **average 89.2% overall gold recovery** from Keats West master composite sulphide samples, validating the recovery used in the preliminary economic assessment (PEA).  **[70145_20250902VA63368:0]** **[70145_20250902VA63368:1]** 
- The program also confirmed the production of a **saleable gold concentrate** and the **flowsheet** outlined in the Queensway PEA.  **[70145_20250902VA63368:0]** 
- Additionally, **average recoveries of 87%** were achieved from rougher stage flotation on select low-grade samples from the Keats, Golden Joint, Lotto, and Iceberg zones.  **[70145_20250902VA63368:0]** **[70145_20250902VA63368:2]** 
- The company plans additional Feasibility Study level metallurgical test work to commence in **Q4 2025**, with results anticipated in **H2 2026**.  **[70145_20250902VA63368:0]** **[70145_20250902VA63368:2]** 
- The Technical Report for the Queensway PEA was filed on **September 2, 2025**.  **[70145_20250902VA63368:2]**

New Found Gold Announces Phase III Metallurgical Test Work Results and Files Technical Report

- New Found Gold Corp. completed a **non-brokered private placement** for gross proceeds of **C$20,000,000.57**.  **[70145_20250827VA59796:0]** 
- **Eric Sprott** acquired **12,269,939 common shares** through the private placement.  **[70145_20250827VA59796:0]** 
- As a result of the private placement, Eric Sprott's beneficial ownership in New Found Gold Corp. increased from approximately **19.0%** to approximately **23.1%** of the outstanding common shares on a non-diluted basis.  **[70145_20250827VA59796:0]** 
- The proceeds from the private placement will be used to advance the **Queensway Gold Project** and for general corporate and working capital purposes.  **[70145_20250827VA59796:0]**

NATIONAL FUEL GAS (NFG)