Please note that this overview is a high-level summary of items that are discussed in greater detail in subsequent sections of this report.

Exploration and Production Operating Revenues

Pipeline and Storage Operating Revenues

Table of Contents can be attributed to an increase in gross natural gas production in the Appalachian region by producers connected to the aforementioned gathering systems.

(1)Percents compare actual 2022 degree days to normal degree days and actual 2022 degree days to actual 2021 degree days.

Interest Expense on Long-Term Debt

The Credit Agreement contains a cross-default provision whereby the failure by the Company or its significant subsidiaries to make payments under other borrowing arrangements, or the occurrence of certain events affecting those other

The Current Portion of Long-Term Debt at June 30, 2022 consists of $500.0 million of 3.75% notes and $49.0 million of 7.395% notes that mature in March 2023. None of the Company's long-term debt as of September 30, 2021 had a maturity date within the following twelve-month period.

The Company's embedded cost of long-term debt was 4.48% at both June 30, 2022 and June 30, 2021.

The Company, in its Exploration and Production segment, entered into contractual obligations for the nine months ended June 30, 2022 to spend $67.3 million for hydraulic fracturing services work through June 1, 2024.

Distribution Corporation's current delivery rates in its Pennsylvania jurisdiction were approved by the PaPUC on November 30, 2006 as part of a settlement agreement that became effective January 1, 2007. The rate settlement does not specify any requirement to file a future rate case.

Empire's 2019 rate settlement provides that Empire must make a rate case filing no later than May 1, 2025.

For further discussion of the Company's environmental exposures, refer to Item 1 at Note 8 - Commitments and Contingencies under the heading "Environmental Matters."

Safe Harbor for Forward-Looking Statements

3.The Company's ability to estimate accurately the time and resources necessary to meet emissions targets;

4.Governmental/regulatory actions and/or market pressures to reduce or eliminate reliance on natural gas;

5.Changes in economic conditions, including inflationary pressures and global, national or regional recessions, and their effect on the demand for, and customers' ability to pay for, the Company's products and services;

6.Changes in the price of natural gas;

7.The creditworthiness or performance of the Company's key suppliers, customers and counterparties;

8.The length and severity of the ongoing COVID-19 pandemic, including its impacts across our businesses on demand, operations, global supply chains and liquidity;

10.Impairments under the SEC's full cost ceiling test for natural gas reserves;

12.The Company's ability to complete planned strategic transactions;

13.The Company's ability to successfully integrate acquired assets and achieve expected cost synergies;

15.The impact of information technology disruptions, cybersecurity or data security breaches;

17.Increasing health care costs and the resulting effect on health insurance premiums and on the obligation to provide other post-retirement benefits;

18.Other changes in price differentials between similar quantities of natural gas having different quality, heating value, hydrocarbon mix or delivery date;

19.The cost and effects of legal and administrative claims against the Company or activist shareholder campaigns to effect changes at the Company;

20.Negotiations with the collective bargaining units representing the Company's workforce, including potential work stoppages during negotiations;

21.Uncertainty of gas reserve estimates;

22.Significant differences between the Company's projected and actual production levels for natural gas;

23.Changes in demographic patterns and weather conditions (including those related to climate change);

24.Changes in the availability, price or accounting treatment of derivative financial instruments;

26.Economic disruptions or uninsured losses resulting from major accidents, fires, severe weather, natural disasters, terrorist activities or acts of war;

27.Significant differences between the Company's projected and actual capital expenditures and operating expenses; or

28.Increasing costs of insurance, changes in coverage and the ability to obtain insurance.

The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

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