9532 Q2 2026 Earnings Presentation

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1 Index Highlights 2 I. Update on Initiatives for Enhancing Corporate Value 3－19 II. Summary of FY2026.3 2Q Results and FY2026.3 Revised Forecasts 20－27 III. Figure increase/decrease 1. Year-on-Year Comparison of 2Q Results 28－33 2. Comparison between Previous Forecasts(May 2025) and Revised Forecasts 34－39 3. FY2026.3 Projected Changes from FY2025.3 Results 40－45 IV. Reference 46－50 Disclaimer This document has been translated from the Japanese original for reference purpose only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. Management information is available on Osaka Gas websites. Financial reports, integrated reports, fact books and road show materials can be accessed and downloaded at the following URL. https://www.osakagas.co.jp/en/ir/ Note regarding forward-looking statements: Certain statements contained herein are forward-looking statements, strategies, and plans, which reflect our judgment based on the information so far available. Actual results may differ materially from those discussed in such statements. Among the factors that could cause actual results to differ materially are: economic trends in Japan, sharp fluctuations in exchange rates and crude oil prices, and extraordinary weather conditions. The impact of share buyback announced on May 8, 2025, is taken into account in FY2026.3 forecasts announced on 30 October, except for DOE, payout ratio, earnings per share, and book value per share, which do not reflect the effects of share buyback executed on and after October 1, 2025. Note regarding gas sales volume: All gas sales volumes are indicated based on the standard heating value at 45 MJ/m3. Nabari Kintetsu Gas and Shingu Gas’s fiscal year ends on December 31.

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2 Executive Summary • Revised shareholder return policy: Effective for the interim dividend for FY26.3, with the DOE increased from 3.0% to 3.5%, reflecting the consistent improvement in normalized profits and the stability of our financial position • Share buyback of up to 70 billion yen, announced at the beginning of FY26.3, progressing as scheduled (period: May 9, 2025 to April 24, 2026) as part of our shareholder equity management initiatives ● Enhanced shareholder returns driven by improved normalized profit (increased dividend resulting from a raised DOE) 1 • Dividends on Equity(DOE) Before revision 3.0% After revision 3.5% • Forecast of FY26.3 Annual Dividends Before revision After revision Difference Shareholder Return Policy Forecasts of FY26.3● Upward forecast revision of FY2026.3 • Ordinary profit 2Q of FY26.3 105.4 (86.2) billion yen Change from previous year +33.5 (+19.1) billion yen 2Q results of FY26.3● Steady progress in the first half of FY2026.3 2 3 • Profit attributable to owners of the parent 2Q of FY26.3 94.8 billion yen Change from previous year +44.0 billion yen billion yen(159.0) 165.0 billion yen(169.0)186.0 billion yen(+10.0)+21.0 • Ordinary profit Before revision After revision Difference yen/share105.0 yen/share120.0 yen/share+15.0 • Upward revision of our forecasts for FY2026.3, projecting an increase of 10 billion yen in ordinary profit, excluding time- lag effects, based on the recent strong performance trends in our business • Increases achieved in both ordinary profit and profit attributable to owners of the parent for the second-quarter (interim) results compared to the previous year Figures in parentheses exclude time-lag profit/loss Figures in parentheses exclude time-lag profit/loss * effective for FY26.3 interim dividend and beyond

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4 Improved Normalized Profit during the Current Medium-Term Period  Steady improvement of normalized profit achieved while pursuing targets of achieving a 5% ROIC and 8% ROE by FY2027.3 through profit growth and effective management of shareholders' equity, as outlined in our Medium-Term Management Plan 2026, creating momentum for sustainable growth beyond FY2028.3 FY27.3 Target FY26.3 Forecast FY25.3 Result FY31.3 Target Period of Medium-Term Management Plan 2026 Ordinary profit (excluding time-lag effects) Shareholders' equity Further profit growth Managing shareholders’ equity flexibly 185.3 Excluding temporary increases in profits 169.0 NormalizedExcl. time-lag effects Ordinary profit level that supports the attainment of target indicators Approx. 200 billion yen ROIC 5% ROE 8%Target Refer to the next page for details Refer to the next page for details Revised upward Refer to Chapter II pages 23 & 24 Revised upward Refer to Chapter II pages 23 & 24

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5 Upward Revision of Ordinary Profit Forecast for FY27.3: Breakdown  Profit growth projected for FY2027.3, which is expected to exceed the levels initially planned in the Medium-Term Management Plan 2026, in light of the successful portfolio-based management that has consistently enhanced normalized profits and led to progress in each business segment Ordinary Profit Forecast Initial projection FY27.3 Note: The planned profit (absolute value) is set to be announced in the FY27.3 Business Plan, which is scheduled for release in March 2026. 1. Increase in profit from gas sales 2. Consistent acquisition of new businesses (e.g., renovations) Accelerated asset replacement and other measures in the real estate business 1. Increase in Sabine’s shale gas production aligned with the rise in Henry Hub futures price 2. Sustained reliable operations at Freeport LNG 3. Capacity price increase in the U.S. power market Aiming to exceed initially planned profit (Below are potential contributors to profit growth) [International Energy] Increase in profit of over 10 billion yen [Domestic Energy] Increase in profit in the mid- billions of yen range [LBS] Increase in profit in the mid- billions of yen range Ordinary profit originally forecasted for FY27.3 in the Medium-Term Management Plan 2026 Latest projection Ordinary profit required to attain 5% ROIC and 8% ROE in FY27.3 Excluding time-lag effects Excluding time-lag effects

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6 Enhanced Shareholder Returns: Increased Dividend due to Revised DOE  Enhanced shareholder returns following an elevated dividend on equity (DOE) ratio, rising from 3.0% to 3.5%, starting with the interim dividend for FY26.3, reflecting the consistent improvement in normalized profit and a solid financial foundation Revision of Shareholder Return Policy • Implement a progressive dividend policy that aims to maintain or increase dividends without reductions • Aim for 3.0% DOE • Execute additional shareholder return measures flexibly Previous policy • Implement a progressive dividend policy that aims to maintain or increase dividends without reductions • Aim for 3.5% DOE • Execute additional shareholder return measures flexibly Revised policy, effective with the interim dividend for FY26.3

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7 50.0 50.0 52.5 57.5 60.0 82.5 95.0 0 30 60 90 120 0 500 1,000 FY19.3 FY20.3 FY21.3 FY22.3 FY23.3 FY24.3 FY25.3 FY26.3 Total annual dividends1 Share buybacks  Annual dividend forecast for FY2026.3: Increased from 105 yen per share to 120 yen per share, an increase of 15 yen per share, reflecting an upward revision of the dividend on equity (DOE)  Implementing strategies focused on boosting long-term shareholder value, alongside our ongoing share buyback program of up to 70 billion yen Trends in Dividends and Shareholder Returns 105.0 120.0 Enhanced Shareholder Returns: Dividends and Share Buybacks Annual dividend per share Amount returned to shareholders (billions of yen) Dividend increase due to the revised DOE, effective with FY26.3 interim dividend 120 90 60 30 0 Share buybacks announced at the beginning of FY26.3 are being executed as planned (Period: May 9, 2025 – April 24, 2026). 100 50 20.7 23.9 21.820.7 24.9 34.1 38.3 70.0 40.0 20.0 Dividend per share (yen/share) 1 Total annual dividends = Average number of shares during the period x Annual dividend per share 0

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9 Business Portfolio and Key Growth Drivers Expanding activated carbon business Procuring LNG and optimizing procurement Harnessing sales capabilities, cross-selling various products, and expanding nationwide Enhancing thermal and renewable power capacity, and optimizing their operations LNG Trading LNG Regasification Gas distribution Renewable energyAustralian upstream Chemical Materials Real EstateInformation Electricity in U.S.Freeport LNG terminal in U.S. Power generation and trading Driving organic growth as the Group’s business foundation by leveraging the value chain Expanding production volume Increasing gas supply Achieving a high ROIC and natural hedge International Energy Upstream Downstream Unlocking synergies for greater value Sabine Shale Gas in U.S. Evolution and Expansion of Business Domains Gas Network Domestic Energy LBS Leveraging business expertise and brand : Key Growth Drivers Shifting toward a short-term capital recycling model India Leveraging expertise Leveraging expertiseLNG procurement value chain  Business portfolio strategy: Pursue organic growth in Domestic Energy businesses while fostering a virtuous cycle of sustainable growth through expansion into high-ROIC International Energy businesses, leveraging operational expertise in Domestic Energy, and through the development of synergies between LBS and Domestic Energy businesses  Focus on diverse key growth drivers for sustainable value enhancement in each segment Retail & whole- sales Expertise for Stabilizing P&L using Hedging Strategies

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10 (FY25.3) ROE target adopted as a management metric, DOE and progressive dividend approach added to the shareholder return policy Additional investment made in the gas business in India Strong Earnings Trajectory and Future Growth Outlook International Energy segment: Launch of key businesses Approx. 90 billion yen/year 1 Ordinary profit, ROIC, and ROE exclude time-lag effects. 2 Average of FY25.3 results and FY26.3 forecasts. ROE and ROIC are simple averages. Long-Term Management Vision (FY2018.3 – FY2031.3) Medium-Term Management Plan 2020 (FY2018.3 – FY2021.3) International Energy & LBS segments: Business expansion Medium-Term Management Plan 2023 (FY2022.3 – FY2024.3） All segments: Focus on business enhancement Aiming for approx. 6% ROIC approx. 10% ROE by the early 2030s ■Domestic Energy ■International Energy ■LBS ■Daigas Group Legend Ordinary profit 1 Approx. 177 billion yen/year ROIC 1 5.3% ROE 1 7.9% Approx. 161 billion yen/year Term average Ordinary profit 1 Term average Term average2 Medium-Term Management Plan 2026 (FY2025.3 - Now)  Strategic investments in new business growth, consistently driving profit expansion and enhancing the portfolio  Aim for an ROIC of approx. 6 % and an ROE of approx. 10 % in FY2031.3 through sustained business development Ordinary profit 1 [Prior to FY17.3] (FY05.3) ■ Entry into the U.S. power sector (FY10.3) ■ Senboku Natural Gas Power Plant starts operations (FY14.3) ■ Acquired 100% of Jacobi (FY17.3) ■ Gorgon LNG Project in Australia starts production (FY22.3) ROIC target introduced Entry into the gas distribution sector in India (FY20.3) 100% acquisition of Sabine Corporation in the U.S. Freeport LNG terminal in the U.S. starts commercial operations OGEST, an LNG trading company in Singapore, established (FY24.3) Cumulative total of properties supplied in the real estate business exceeds 250 (FY24.3) 10 Million customer accounts achieved (FY26.3) Himeji Natural Gas Power Plant starts operations Electricity Supply Contracts reaches 2 million

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11 Market Environment Strategic Initiatives Increasing demand for fuel conversion, energy conservation, power savings, and zero upfront investment energy solutions aimed at achieving low-carbon and decarbonization goals  Aim to enhance customer retention and grow our customer base by offering a diverse range of solutions beyond traditional energy services while expanding into new service areas • The 7th Strategic Energy Plan Emphasizing the promotion of fuel conversion • Establishment of new subsidies Focusing on promoting fuel conversion in both energy and manufacturing processes (2024) Within the Kansai region Outside the Kansai region Expansion of solutions Expansion of Service areas Energy Further enhance and diversify solutions Home services for the residential sector Solution services for the commercial and industrial sectors Energy (gas and electricity) Gas appliances Examples Internet services Photovoltaic power generation Ene-Farm (focusing on the Kansai region) Cogeneration Units Photovoltaic power generation, water treatment, air conditioning, plant IoT, etc. Domestic Energy Retail and Wholesale: Residential, Commercial, and Industrial Sectors ● Drive effective cross-selling and nationwide business development by leveraging a strong sales foundation and a diverse product portfolio Residential use Commercial and Industrial use Strengthen our presence in the Greater Tokyo area and beyondEnhance value through fuel conversion and the expansion of equipment sales Peripheral services Renewable energy, off-site PPA, etc.  Natural gas is set to play a crucial role in the future energy landscape outlined in the 7th Strategic Energy Policy.  Since the liberalization of the market, competition in the energy sector has intensified. [New entrants' share in the Kansai gas sector] Expand tariff plans to better align with customer needs  Switching among the existing customer segment has slowed; however, competition for moving customers remains intense.0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 17年4⽉ 2⽉ 12⽉ 10⽉ 8⽉ 6⽉ 4⽉ 2⽉ 12⽉ 10⽉出典︓ガス取引報をもとに作成 The market share of new entrants (other companies) has remained approximately 20% 25年4⽉ 2017 2025.6 2018 2019 2020 2021 2022 2023 2024 Source: The Gas Trading Report Kansai 21.7％ (year) Gas Electricity

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12 0 200 400 600 800 1,000 1,200 18.3 20.3 22.3 24.3 27.3 Target 11.50 827 (million) 1,090 0 200 400 600 800 1,000 1,200 FY18.3 FY20.3 FY22.3 FY24.3 27.3 Target 31.3 Target 8.27 (million) 10.90 Gas Electricity Others Increasing the total number of accounts across gas, electricity, and other services Striving to reach the target number of customer accounts 10.70 FY31.3 Target  Expanding customer accounts due to an increase in gas and electricity clients in the Tokyo metropolitan area (CD Energy Direct), as well as a rise in electricity clients in the Kansai region  Driving business growth by enhancing customer value through a diverse range of service offerings Domestic Energy Retail and Wholesale: Residential, Commercial, and Industrial Sectors Reference: Consistent growth in customer accounts * For the Greater Tokyo area, this includes over 80,000 CD Energy Direct accounts (as of the end of FY25.3). The company was established in April 2018 as a joint venture, with 50% ownership by Chubu Electric Power Miraiz and 50% by Osaka Gas. 10 0 FY27.3 TargetFY25.3

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13 8,949 10,951 11,653 13,189 16,133 16,760 15,883 15,308 16,982 16,602 0 10,000 20,000 17.3 19.3 21.3 23.3 25.3 ・・・ 8.7 8.6 7.9 7.4 7.2 7.1 6.8 6.6 6.7 6.6 0 5 10 17.3 18.3 19.3 20.3 21.3 22. 3 23.3 24.3 25.3 26.3 31.3 ・・・ (Billions of m3) Full deregulation of gas retailing in FY18.3 (GWh) Full deregulation of electricity retailing in FY17.3 1 Domestic consolidated sales volume (excluding the Kanto area) 2 Non-consolidated sales volume for residential use prior to FY21.3 Residential2 Non-residential Showing signs of stabilizing trend 26.3 Forecast Aiming to increase sales volumes after a decline caused by soaring energy prices in FY23.3 31.3 Forecast  A stabilizing trend in gas sales volumes following a period of intense price competition after full market liberalization  Electricity sales volumes expected to grow from FY26.3 onward with the start of operations at the Himeji Natural Gas Power Plant, bouncing back after facing challenges in FY23.3 due to increased procurement costs driven by soaring energy prices Domestic Energy Retail and Wholesale: Residential, Commercial, and Industrial Sectors Reference: Status of our gas and electricity sales volumes Wholesale Gas sales volumes1 Electricity sales volumes1 Retail (FY) (FY)

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14  Leveraging our trading expertise with 10-million-ton- class LNG flows (optimizing procurement and transportation), combined with the flexible dispatch capability of gas-fired power generation. This approach aims to reduce costs by optimizing the entire energy value chain in response to supply-demand balance and market fluctuations. Market Environment Strategic Initiatives  Pursuing a portfolio characterized by superior cost competitiveness, environmental performance, and stability by integrating renewable energy sources with both direct and market procurement  Projected rise in electricity demand due to the growth of AI data centers and electrification 2024 2025 2026 2030 Himeji Unit 1 launch Himeji Unit 2 launch Himeji Unit 3* launch 0.9 million GWh 1.0 million GWh 1.3 million GWh Low demand case High demand case 2041.32023.3 2.0 2.6 3.2  Increased value of power sources amid tight supply and demand [Power source operation concept] Himeji Units 1 and 2 serve as primary power sources, while the Senboku Natural Gas Power Plant transitions to flexible peak power source operations. Expansion of our thermal power generation capacity in Japan Optimization of our energy value chain  Utilizing storage batteries aimed at contributing to grid stabilization and enhancing flexibility in power plant operations in response to supply-demand fluctuations: our goal is to operate storage batteries with a capacity equivalent to 1 GW by the end of FY2031.3.  State-of-the-art high-efficiency natural gas power plant (Himeji Units 1 and 2), set to begin operations in 2026. Domestic Energy ● Strengthening the power portfolio and enhance competitiveness through the construction of new in-house power plants ● Optimizing power and LNG trading Source: The Agency for Natural Resources and Energy’s related material, “Projected Energy Supply and Demand for FY2041.3” from the 7th Strategic Energy Plan. [Projected Domestic Electricity Demand for FY2041.3] (GW) 25.3 26.3 27.3 Plan 31.3 Plan * Unit 3 is designated as a power source for the Long-Term Decarbonization Power Source Auction. LNG vessel Power plant Customers Power trading LNG regasification and gas distribution Distribution LNG trading Power Generation, Power Trading, and LNG Trading Market (FY) (FY)

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15 * Recent International Energy  Stabilizing profits by hedging the gas selling price for 70-80%* of the current year’s sales volume at the beginning of the fiscal year, while increasing production volume during gas price surges to capitalize on upside potential U.S. gas production is expected to continue increasing [Latest U.S. Gas Production Forecast Data] 39.00 40.00 41.00 42.00 43.00 44.00 45.00 46.00 2022 2024 2026 2028 2030 2032 2034 0 (TBtu) Sabine well drilling site [Acreage size] • As of end-July 2019: Approx. 1,000 km² (at 100% equity acquisition) • As of end-September 2025: Approx. 2,100 km² Henry Hub futures prices remain within a certain range despite fluctuations due to supply-demand balance and other factors ※ 2.6 2.0 3.9 6.5 2.5 2.2 20.3 21.3 22.3 23. 3 24.3 25.3 31.3 Volume of production Gas price (Henry Hub) ・・・ Trends in shale gas production and gas prices  Pursuing profit expansion by increasing production volume through the acquisition of additional acreages, with development projected to continue for approximately the next 10 years Market Environment Strategic Initiatives [Henry Hub Futures Price] (As of September 30, 2025) Partially curtailing production during periods of declining gas prices 2026.3 3.60 1.70 Sabine’s Shale Gas Operations ● Controlling production based on gas prices and increase production volume through the acquisition of additional acreages (million tons/year) ($/MMBtu) (Source: AEO2025) 2.80 2.20 3.30 3.00 3.10 3.80 * Recent hedging ratio 0 1 2 3 4 5 6 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Price for futuresActual Approximately $4 Previous Forecast Current Forecast (year) (year) (FY)

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16 International Energy U.S. electricity demand is expected to continue growing, driven by factors such as the construction of new AI data centers 0 100 200 300 400 20/21 21/22 22/23 23/24 24/25 25/26 26/27 Previous price $269 Recent price $329 (price cap) [PJM Market Prices] [Electricity Demand Outlook for PJM Market] List of owned power assets (as of end-September 2025) ・Approximately 1.3 GW across 5 power plants ・Enhancing capital efficiency through selection and concentration Capacity prices in the PJM market have risen significantly, increasing the value of power generation assets 0 50 100 150 200 250 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 (MW) Data center construction is progressing, particularly within the PJM market 2020 2021 2022 2023 2024 2025 Profit trends (billion yen) * Reported valuation loss on divested assets during FY26.3 Equity capacity (MW) Name of Power Plant (Region)Sold inStatus 525Fairview (PJM) -Owned 188Three Rivers (PJM) 181St. Charles Energy Center (PJM) 399Towantic (ISO-NE) 48Saranac (NY-ISO) 69White waterFY24.3 Divested 474Michigan Power, Lakewood, Kleen Energy, ShoreFY26.3 Electricity in U.S.: Thermal Power Market Environment Strategic Initiatives ● Maximizing the utilization of owned power assets as stable sources of earnings ($/MW-Day) 17.5 7.7* 12.6 8.2 4.2 1.7  Achieving both economic efficiency and safe operations. Promoting value-enhancing initiatives, such as continuous cost improvement, while stabilizing cash flow through price hedging for gas procurement and electricity sales.  Advancing the sale of less competitive power plants to enhance capital efficiency. Maximizing power source value by focusing on and utilizing highly competitive power assets, including those with high power generation efficiency, favorable location (e.g., proximity to gas sources and power demand), and opportunities for value enhancement. (year) (year) Forecast 21.3 22.3 23.3 24.3 25.3 26.3 (FY) Created based on published figures by PJM Created based on published figures by PJM

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17 India is promoting natural gas and renewable energy as part of its national policy amid rapid economic growth and a large-scale energy transition  Aiming for ordinary profit of 10 billion yen in the early 2030s  City gas distribution business CNG station 24.3 25.3 26.3 31.3 (billion m3) Total area: Approx. 320,000 km2 (About 90% of Japan’s land area) Renewable energy assets operated by Clean Max Government Declaration  Natural gas share in primary energy consumption  Renewable Energy Business: - Collaborating with leading local company Clean Max. - Planning to hold total assets of 400MW by FY29.3. 68.3 108.4 180.7 13.5 31.8 79.0 0 50 100 150 200 2024 2030 2040 Demand for Natural Gas of which city gas [Projected Natural Gas Demand in India] Status as of end-September 2025 • CNG stations: Over 500 sites • Residential supply points: Approx. 110,000 • Gas pipeline extension: Approx. 10,000 km (equivalent to 1/6 of our total pipeline length in Japan) (Billion m3) International Energy Gas Distribution and Renewable Energy in India Market Environment Strategic Initiatives Our business areas Renewable Energy Development 2030 target ・500GW of non-fossil-fuel power generation ・50% of energy demand to be met by renewables → Requiring additional 200GW development (c.f. Japan’s peak power demand: 160GW) 6% in 2019 15% in 2030 ● Leveraging the expertise and know-how cultivated in the domestic gas business to capture significant demand in India Our gas sales volume trends and targets in India - Priority access to low-cost domestic natural gas for transport and residential use - 70% of revenue: generated from transportation demand - Utilizing domestic gas business expertise in gas supply infrastructure construction and maintenance, and demand development, across 19 areas granted exclusive rights1 by the government Aiming to expand to approx. half the scale of our gas sales volume in Japan Source: Report of the Petroleum and Natural Gas Regulatory Board (PNGRB) 3.5 0.540.371.0 3.0 5.0 ■Areas with exclusive rights Delhi Chennai 1 25-year exclusive infrastructure monopoly and 8-year exclusive gas sales rights 2 Figures from a Japanese consortium in which we have invested. Natural gas demand Pipeline gas demand 0.15 (FY) (year)

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18  Securing high-quality land assets by utilizing our group's human networks, brand strength, and financial resources  Leveraging our expertise from operations in the Kansai region to expand into the Greater Tokyo rental apartment sector since 2009  Introducing strategic gas appliances, such as floor heating systems and gas clothes dryers, to contribute to the enhanced added value of residential properties Robust demand driven by demographic expansion in our target urban centers  Enhancing capital efficiency by increasing the share of short-term capital recycling businesses  Property sales to private REITs (totaling 38.8 billion yen*): Targeting 100 billion yen by FY2031.3 LBS Real Estate Market Environment Strategic Initiatives ● Harnessing group synergies: local land acquisition data, brand strength, creditworthiness, and gas appliances ● Enhancing capital efficiency through asset divestment Condominiums: Installation of over 2,000 Ene-Farm units (all buildings UMEKITA phase 2 large-scale development: Key developer role with the rights to provide CHP units, energy services, and 5,000 RT of district cooling. Installation of Ene- Farm to all 1,040 units across two condominium buildings Expo 2025 Osaka, Kansai, Japan: Our Group collaboration (Daigas Energy and our property development subsidiary) for operation and management of the regional heating and cooling systemActivated carbon market growth anticipated due to increasing demand for purification driven by heightened environmental awareness Market Environment Strategic Initiatives  Increasing our activated carbon sales by boosting our supply capacity each year with our enhanced manufacturing facilities in line with the expanding activated carbon market  Exploring the application of materials, which are being researched and developed by Osaka Gas Chemical, for the biogas business promoted by Osaka Gas.  Striving for growth in activated carbon regeneration services and ion exchange resins in our activated carbon business as we approach FY2031.3 ● Enhancing activated carbon supply capacity and sales, and applying it to carbon neutrality sectors LBS Chemical Materials * As of September 30, 2025 120 110 100 Nationwide90 80 2015 2020 2025 2030 2035 2040 2045 Source: National Institute of Population and Social Security Research (https://www.ipss.go.jp/) Central Osaka (3 wards) Central Tokyo (5 wards) Eastern Tokyo (3 wards) Southern Tokyo (3 wards) [Nationwide and Key Investment Area Population Projections] CY2020 = 100 in our sole development projects since 2018) (year)

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19 Reference: Key Feedback from Shareholders and Investors and Our Responses  Effectively incorporating the needs of the capital market into our management strategy based on feedback from shareholders and investors to enhance our initiatives, including information disclosure and other measures, aiming to achieve sustainable growth and enhance corporate value Our responseFeedback from shareholders and investorsCategory  Adopted a dividend on equity (DOE) and the progressive dividend policy as announced in the Medium-Term Management Plan 2026 Improve the visibility of dividend payments, even amid short-term profit fluctuations caused by changes in the business environmentShareholder returns  Raised DOE from 3.0% to 3.5%, starting with the interim dividend for the FY26.3, and increased dividends Allocate shareholder return funds to not only share buybacks but also to increasing dividends  Made a clear statement that we aim for a profit level that aligns with our ROIC and ROE targets  Provided a detailed breakdown of factors that are anticipated to generate higher profits than initially expected Enhance information disclosure to increase reliability of achieving the Medium-Term Management Plan 2026 targets Information disclosure  Disclosed ROIC forecast by segment  Enhance disclosure for better clarity and comprehension of business structure and initiatives, which have become increasingly diverse and complex  Incorporate more specific details about business strategies in IR materials  Explained the impact of exchange rate fluctuations on shareholders’ capital(foreign currency translation adjustment account)  Enhanced the disclosure for the International Energy segment by 1. showing the breakdown by geological area, and 2. disclosing the shale gas production  Enhanced the disclosure for the LBS segment by providing results not only by affiliate company but also by business group  Clarified our perspective on the market environment and presented a more comprehensive strategy for future growth in each business  Provide a guided tour of the Nagaoka e-mthane Demonstration Facility in November 2024, co-hosted by INPEX CORPORATION and Osaka Gas) Provide updates on the progress of carbon neutrality initiatives  Provide facility tours Decarbonization  Held carbon neutrality briefing session and provided tours of the methanation demonstration facilities at the Expo 2025 Osaka, Kansai, Japan, from May to September 2025  Held a series of meetings between Outside Directors and institutional investors since FY24.3, with meeting details subsequently disclosed in the Integrated Report Create opportunities for dialogue between investors and outside directors to strengthen governance Governance Key improvement measures (for the Medium-Term Management Plan 2026 period) derived from dialogue with sharesholders and investors FY26.3 FY26.3 FY26.3 FY26.3 FY26.3

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21 YoY DifferenceFY2025.3 2QFY2026.3 2Q(billion yen) +9.0950.1 959.1 Net sales +33.571.8 105.4 Ordinary profit +19.167.1 86.2 Excluding time- lag profit/loss +44.050.7 94.8 Profit attributable to owners of the parent +38.2130.7 169.0 EBITDA* YoY difference: +33.5 billion yenYoY difference: +33.5 billion yen (billion yen) International Energy +9.6  Net sales remained at the same level as the previous year.  Ordinary profit and profit attributable to owners of parent increased, primarily due to an increase in time-lag profit in the Domestic Energy segment, and profit growth in the International Energy segment, including Freeport LNG and Sabine in the U.S. Summary of FY2026.3 2Q Results * EBITDA = Operating profit + Share of profit (loss) of entities accounted for using equity method + Depreciation (including amortization of goodwill) 71.8 105.4 Gross profit of gas business +8.7 Time-lag gas and electricity +14.4 Increase in profits from Freeport LNG and Sabine in the U.S. FY25.3 2Q FY26.3 2Q Others +0.9

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22 YoY Comparison of 2Q Results YoY difference +33.5 billion yen 71.8 → 105.4 1 Change in segment profit 2 Including the impact of market valuation of derivatives: -1.4 (1.0 → -0.3) 3 Excluding time-lag effects 4 Impact of consolidating the Japanese consortium that holds a minor stake in our gas business in India (The recognition of profit and loss began in 2Q of FY25.3.) 5 Excluding share of profit (loss) of entities accounted for using equity method ● Crude oil price -13.0$/bbl (86.7 → 73.7) ● Exchange -6.8 yen/$ (152.8 → 146.0) USA:+12.9 (28.7 → 41.7) ＋ Increase in profits from Freeport LNG ＋ Increase in profits from Sabine Australia: -1.9 (8.4 → 6.5) ー Decrease in profits from upstream businesses Others: -1.3 (-1.8 → -3.1) ー Impact of investing in gas distribution business in India4 Real estate development: +1.6 (10.0 → 11.7) Information technology: -0.3 (2.3 → 1.9) Chemical materials: -2.3 (4.9 → 2.5) Others: +0.2 (0.1 → 0.4) Time-lag profit/loss: +14.4 (4.7 → 19.1) Gas: +10.4 (4.6 → 15.1) Electricity: +3.9 (0.0 → 4.0) Gross profit of gas business3: +8.7 (99.7 → 108.5) ＋ Improved competitiveness of our long-term LNG contracts compared to JLC ＋ Increase in gas sales volume Electricity3: -0.6 (13.3 → 12.7) － Decrease in selling price due to market conditions, mainly the coal price Others : +5.7 (-106.1 → -100.3) Main factors of increase/decrease Segment adjustments: -0.9 (3.1 → 2.2) Non-operating profit/loss5: -2.5 (3.9 → 1.3) Others -3.5 billion yen 7.1 → 3.6 Domestic Energy +28.2 billion yen1 11.7 → 40.0 International Energy +9.6 billion yen1,2 35.4 → 45.1 Life & Business Solutions -0.8 billion yen1 17.5 → 16.6 Breakdown of Change in Ordinary Profit

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23 DifferenceFY26.3 Previous Forecasts FY26.3 Revised Forecasts(billion yen) +10.02,040.02,050.0Net sales +21.0165.0186.0Ordinary profit +10.0159.0169.0Excluding time-lag effects +8.067.575.5Domestic Energy +13.061.074.0International Energy ±0.034.034.0Life & Business Solutions ±0.02.52.5Others +15.0127.0142.0Profit attributable to owners of the parent  Based on our performance trends through the second quarter of FY26.3, we have revised our full-year forecast upward from the previous forecast.*  Net sales are expected to reach 2,050 billion yen, surpassing the previous forecast by 10.0 billion yen, reflecting strong performance in the U.S. businesses and other factors.  Ordinary profit is expected to reach 186.0 billion yen, exceeding the previous forecast by 21.0 billion yen. This is due to increased profits from the expanded time-lag gain in the Domestic Energy segment, as well as the strong production from Sabine, the U.S. shale gas business, and Freeport LNG within the International Energy segment. Summary of FY2025.3 Revised Forecasts * Announced on May 8, 2025

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24 Comparison between Previous Forecasts and Revised Forecasts Ordinary profit difference +21.0 billion yen 165.0 → 186.0 Domestic Energy +8.0 billion yen1 67.5 → 75.5 International Energy +13.0 billion yen1,2 61.0 → 74.0 Life & Business Solutions ±0.0 billion yen1 34.0 → 34.0 Main factors of increase/decrease Time-lag profit/loss: +11.0 (6.0 → 17.0) Gas: +9.0 (5.0 → 14.0) Electricity: +2.0 (1.0 → 3.0) Gross profit of gas business3: -3.0 (255.9 → 252.9) － Declined competitiveness of our long-term LNG contracts compared to JLC Electricity3: -2.0 (22.0 → 20.0) － Decrease in selling price due to market conditions, mainly the coal price Others: +2.0 (-216.4 → -214.4) + Increase in profits from subsidiaries Others ±0.0 billion yen 2.5 → 2.5 ● Crude oil price -3.2 $/bbl (75.0 → 71.8) Crude Oil Price Assumption from October Onward -5.0 $/bbl (75.0 → 70.0) ● Exchange-2.0 yen/$ (150.0 → 148.0) Exchange Assumption from October Onward ±0 yen/$ (150.0 → 150.0) USA: +13.0 (56.3 → 69.3) ＋ Increase in profits from Sabine ＋ Increase in profits from Freeport LNG Australia: ±0.0 (13.1 → 13.1) Others: ±0.0 (-8.4 → -8.4) Real estate: +2.5 (16.4 → 18.9) Information technology: ±0.0 (7.7 → 7.7) Chemical materials: -2.5 (9.1 → 6.6) Others:±0.0 (0.5 → 0.5) 1. Year-on-year change in segment profit 2. Including profit on market valuation of derivatives 3. Excluding time-lag effects Breakdown of Change in Ordinary Profit

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25 Electricity -19.8 Gross profit of gas business +10.1 Others -16.4 YoY difference: -3.6 billion yenYoY difference: -3.6 billion yen USA +9.8  The FY26.3 forecast has been revised from the one announced in May (See Pages 23, 24, and 34-39).  Net sales are projected to decrease year-on-year mainly due to lower gas unit prices under the gas rate adjustment system.  Ordinary profit is projected to decline below the FY25.3 level, mainly due to the absence of the profit from electricity market transactions recorded in FY25.3.  In contrast, the profit attributable to owners of the parent is expected to increase compared to FY25.3, primarily due to a change in the entity recording profits from the U.S. renewable energy business. DifferenceFY25.3 results FY26.3 forecasts(billion yen) -19.02,069.0 2,050.0 Net sales -3.6189.6 186.0 Ordinary profit -16.3185.3 169.0 Excluding time-lag effects +7.5134.4 142.0 Profit attributable to owners of the parent +12.0308.9 321.0 EBITDA +0.3%5.4%5.7%ROIC1 (%) +0.2%8.2%8.4%ROE (%) -0.9%55.5%54.6%Shareholders’ equity ratio2 (%) +0.030.50 0.53 D/E ratio2 +25.095.0 120.0 Annual dividend (yen/share) 189.6 186.0 (billion yen) Summary of FY2026.3 Forecasts vs FY2025.3 Results Time-lag gas and electricity +12.7 Increase in profits from Freeport LNG and Sabine in the U.S. FY26.3 forecasts FY25.3 results 1 ROIC = NOPAT / Invested capital (average of the beginning and the end of each fiscal year) NOPAT = Ordinary profit + Interest expenses - Interest income - Income taxes Invested capital = Shareholders' equity + Balance of interest-bearing debts (excluding risk-free leased Liabilities to us) 2 Calculated with 50% of issued hybrid bonds as equity.

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26 Comparison between FY2025.3 Results and FY2026.3 Forecasts Real estate: +4.7 (14.2 → 18.9) Information technology: +1.4 (6.3 → 7.7) Chemical materials: -0.8 (7.5 → 6.6) Others: -0.1 (0.7 → 0.5) Time-lag profit/loss: +12.7 (4.2 → 17.0) Gas: +11.0 (2.9 → 14.0) Electricity: +1.7 (1.2 → 3.0) Gross profit of gas business3: +10.1 (242.7 → 252.9) ＋ Improved competitiveness of our long-term LNG contracts compared to JLC Electricity3: -19.8 (39.8 → 20.0) － Absence of profit from electricity market transactions realized in FY25.3 － Increase in fixed costs Others: -5.0 (-209.3 → -214.4) － Increase in costs Ordinary profit YoY Difference -3.6 billion yen 189.6 → 186.0 Others -8.8 billion yen 11.3 →2.5 Domestic Energy -2.0 billion yen1 77.5 → 75.5 International Energy +2.0 billion yen1,2 71.9 → 74.0 Life & Business Solutions +5.2 billion yen1 28.7 → 34.0 Main factors of increase/decrease USA: +9.8 (59.4 → 69.3) ＋ Absence of losses from outage at Freeport LNG in FY25.3 Australia: -4.4 (17.6 → 13.1) － Decrease in profits from upstream businesses Others: -3.2 (-5.2 → -8.4) ー Increase in expenses for gas distribution business in India Segment adjustments: -2.6 (3.1 → 0.5) Non-operating profit/loss4: -6.2 (8.2 → 2.0) 1 Change in segment profit 2 Including the impact of market valuation of derivatives: (FY25.3:1.3 billion yen) 3 Excluding time-lag effects 4 Excluding share of profit (loss) of entities accounted for using equity method ● Crude oil price -10.6 $/bbl (82.4 → 71.8) ● Exchange-4.6 yen/$ (152.6 → 148.0) Breakdown of Change in Ordinary Profit

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27 21.7 50.0 52.7 95.0 26.7 64.0 0 50 100 150 200 実績 26.3期見通し 101.31 (billion yen) 209.01  In 2Q of FY26.3, we invested 101.3 billion yen for business growth.  The financial soundness indicators met the target levels, a shareholders’ equity ratio of 45% or higher and a D/E ratio of 0.8 or lower, as set in the Medium-Term Management Plan 2026.  We remain committed to achieving sustainable development and increasing our corporate value in the medium to long term through investments for growth and enhancement of cash flow, profitability, and efficiency. FY26.3 year-end forecasts FY26.3 2Q end Results FY25.3 year-end results 54.6%55.1%55.5%Shareholders’ equity ratio2 (51.9%)(52.3%)(52.8%) 0.530.530.50D/E ratio2 (0.61)(0.61)(0.58) Results and Forecasts for Investment for Growth Investment for growthInvestment for growth Financial soundness indicatorsFinancial soundness indicators FY26.3 2Q FY26.3 Forecasts Power plants (Gas-fired, biomass, etc.) Real estate business, etc. Upstream business in the US (Sabine), etc. 2 The figures are calculated with 50% of issued hybrid bonds (175 billion yen) as equity. The figures in parentheses are the numbers before the adjustment. 1 The investment for business growth includes investments in plants and equipment, investments in equity shares, and business loans for projects and startups. ■Domestic Energy ■International Energy ■LBS

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29 FY2026.3 2Q Results 1. Net Sales and Profit A. FY26.3 B. FY25.3 A-B (A-B)/B Remarks 2Q 2Q 959.1 950.1 +9.0 +1.0% 89.6 54.9 +34.7 +63.2% Time-lag effect, etc. 105.4 71.8 +33.5 +46.7% Time-lag effect, etc. 86.2 67.1 +19.1 +28.6% Increase in profits from U.S. businesses, etc. 19.1 4.7 +14.4 +303.9% (Non-consolidated) Gas 15.1 4.6 +10.4 +225.8% (Non-consolidated) Electricity 4.0 0.0 +3.9 +4095.4% 94.8 50.7 +44.0 +86.7% Time-lag effect, etc. 89.4 49.4 +40.0 +80.9% Increase in profits from U.S. businesses, etc. 240.69 125.04 +115.66 +92.5% 169.0 130.7 +38.2 +29.3% 76.6 53.0 +23.6 +44.5% 1 Included in Domestic Energy. 2 EBITDA = Operating profit + Depreciation (including amortization of goodwill) + Share of profit/loss of entities accounted for using equity method 3 NOPAT = Ordinary profit + Interest expenses - Interest income - Income taxes A. FY26.3 B. FY25.3 A-B 2Q 2Q 73.7 86.7 -13.0 146.0 152.8 -6.8 billion yen EBITDA2 NOPAT3 Time-lag effect1 Profit attributable to owners of the parent Net sales Operating profit Ordinary profit Remarks Excluding time-lag profit/loss Excluding time-lag profit/loss Earnings per share (EPS) (yen) Exchange rate (yen/$) Crude oil price ($/bbl) Average of preliminary monthly data up to September 2025

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30 FY2026.3 2Q Results 2. Asset, Equity, and Debt A. FY26.3 B. FY25.3 A-B 2Q end year end 3,195.9 3,200.5 -4.5 1,671.9 1,688.7 -16.8 4,283.0 4,254.1 +28.9 1,352.2 1,302.0 +50.2 1,015.1 972.4 +42.7 175.0 175.0 ±0.0 52.3% 52.8% -0.5% 55.1% 55.5% -0.4% 0.61 0.58 +0.03 0.53 0.50 +0.03 A. FY26.3 B. FY25.3 A-B 2Q 2Q 2.9% 2.0% +0.9% 2.4% 1.9% +0.5% 5.6% 3.1% +2.5% 4.8% 2.9% +1.9% 2 ROIC = NOPAT / Invested capital (average of the beginning and the end of each fiscal year) NOPAT = Ordinary profit + Interest expenses - Interest income - Income taxes Invested capital = Shareholders' equity + Balance of interest-bearing debts (excluding risk-free leased liabilities) Debt/Equity ratio After adjustment1 1 Calculated with 50% of issued hybrid bonds as equity. Excluding time-lag profit/loss Shareholders’ equity ratio After adjustment1 ROE ROIC2 Remarks Excluding time-lag profit/loss billion yen Remarks Interest-bearing debts Hybrid bonds Shareholders' equity Book value per share (BPS) (yen) Total assets Shareholders' equity excluding accumulated other comprehensive

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31 FY2026.3 2Q Results 3. Investment and Cash Flow A. FY26.3 B. FY25.3 A-B 2Q 2Q 141.7 151.4 -9.6 40.4 27.4 +12.9 101.3 123.9 -22.5 26.7 15.6 +11.1 52.7 75.2 -22.4 21.7 33.0 -11.2 130.5 106.2 +24.3 64.9 62.8 +2.0 A. FY26.3 B. FY25.3 A-B 2Q 2Q 199.5 114.1 +85.3 110.2 173.9 -63.6 89.2 -59.8 +149.0 Investment (A+B) 2 Free cash flow = Cash flows from operating activities - Cash flows from investing activities Cash flows from investing activities Free cash flow2 Cash flows from operating activities Depreciation (including amortization of goodwill) 1 Capital expenditures (included in investments) = Investments – Investments for subsidiaries and associates and M&A billion yen Remarks Life & Business Solutions Capital expenditures1 Domestic Energy International Energy Investment for quality improvement (A) Investment for growth (B) billion yen Remarks

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32 FY2026.3 2Q Results 4. Customer Accounts and Sales Volume A. FY26.3 B. FY25.3 A-B (A-B)/B Remarks year end year end 10,777 10,467 +309 +3.0% Gas1 5,461 5,351 +110 +2.1% Electricity2 2,483 2,316 +167 +7.2% Others 2,833 2,800 +33 +1.2% A. FY26.3 B. FY25.3 A-B (A-B)/B Remarks 2Q 2Q 3,034 2,949 +85 +2.9% 541 536 +5 +0.9% 2,493 2,413 +80 +3.3% 5,123 5,083 +40 +0.8% 8,141 7,878 +263 +3.3% 3,875 3,652 +223 +6.1% 4,266 4,226 +40 +0.9% 1,936 1,853 +83 +4.5% A. FY26.3 B. FY25.3 A-B 2Q 2Q 25.1 25.0 +0.1 3 45MJ/m 3 4 Gas sales volume and electricity sales volume reflect the estimated usage amount for the period between the last meter readin g day in the account closing month and the account closing date, as the revenue for gas sales and electricity sales are estimated and recorded based on the Implementation Guidance on Accounting Standard for Revenue Recognition. Average temperature (℃) Non-residential Remarks Non-residential Electricity sales volume (GWh)4 Residential Consolidated gas sales volume (million m3)3,4 Residential Number of units for gas supply (thousands) Number of low-voltage electricity supply (thousands) thousands Number of customer accounts 1 Total of number of units for gas supply on consolidated basis and supply by equity-method affiliates (excluding supplies by one-touch wholesale customers) 2 Total number of low-voltage electricity supply on consolidated basis and supply by equity-method affiliates, etc.

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33 FY2026.3 2Q Results 5. Segment Sales and Profit A. FY26.3 B. FY25.3 A-B (A-B)/B Remarks 2Q 2Q 959.1 950.1 +9.0 +1.0% 775.8 788.3 -12.4 -1.6% Decrease in sales from the lower unit selling price of LNG, etc. 69.5 59.1 +10.4 +17.6% 146.3 136.6 +9.7 +7.2% -32.5 -33.9 +1.3 - 105.4 71.8 +33.5 +46.7% 104.0 67.8 +36.1 +53.3% Domestic Energy 40.0 11.7 +28.2 +240.6% Time-lag effect, etc. Excluding time-lag profit/loss 20.8 7.0 +13.8 +197.8% Electricity 12.7 13.3 -0.6 -4.7% International Energy 45.1 35.4 +9.6 +27.3% Increase in profits from U.S. businesses, etc. 16.6 17.5 -0.8 -5.1% Decrease in profits from chemical materials, etc. Adjustments 2.2 3.1 -0.9 -28.7% 1.3 3.9 -2.5 -65.1% 19.1 4.7 +14.4 +303.9% 15.1 4.6 +10.4 +225.8% 4.0 0.0 +3.9 +4095.4% -0.3 1.0 -1.4 - 3 Included in the Domestic Energy. (Non-consolidated) Electricity Profit/ｌoss on market valuation of derivatives4 1 Segment profit = Operating profit (loss) + Share of profit (loss) of entities accounted for using equity method 2 Excluding share of profit(loss) of entities accounted for using equity method Profit/ｌoss on time-lag effect3 (Non-consolidated) Gas Segment profit1 Life & Business Solutions Adjustments Ordinary profit Net Sales Domestic Energy International Energy billion yen Life & Business Solutions Non-operating profit/loss2 4 Included in the International Energy.

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35 FY2026.3 Forecasts against Previous Forecasts 1. Net Sales and Profit A. FY26.3 B. FY26.3 A-B (A-B)/B Remarks Revised Forecasts Previous Forecasts 2,050.0 2,040.0 +10.0 +0.5% Increase in profits from U.S. businesses, etc. 160.0 139.0 +21.0 +15.1% Increase in profits from U.S. businesses, etc. 186.0 165.0 +21.0 +12.7% Increase in profits from U.S. businesses, etc. 169.0 159.0 +10.0 +6.3% Increase in profits from U.S. businesses, etc. 17.0 6.0 +11.0 +183.3% (Non-consolidated) Gas 14.0 5.0 +9.0 +180.0% (Non-consolidated) Electricity 3.0 1.0 +2.0 +200.0% 142.0 127.0 +15.0 +11.8% Increase in profits from U.S. businesses, etc. 129.5 125.3 +4.1 +3.3% Increase in profits from U.S. businesses, etc. 361.90 321.95 +39.95 +12.4% 321.0 300.0 +21.0 +7.0% 151.2 136.1 +15.1 +11.1% 1 Included in Domestic Energy. 2 The FY26.3 forecast for earnings per share which was announced on October 30, 2025, does not reflect the effect of the share buyback executed on and after O 3 EBITDA = Operating profit + Depreciation (including amortization of goodwill) + Share of profit/loss of entities accounted for using equity method 4 NOPAT = Ordinary profit + Interest expenses - Interest income - Income taxes A. FY26.3 B. FY26.3 A-B Revised Forecasts Previous Forecasts 71.8 75.0 -3.2 148.0 150.0 -2.0 billion yen Net sales Operating profit Ordinary profit Remarks Crude oil price ($/bbl) October 2025 to March 2026 : 70 $/bbl Exchange rate (yen/$) October 2025 to March 2026 : 150 yen/$ Time-la g effect1 Profit attributable to owners of the parent EBITDA3 NOPAT4 Excluding time-lag profit/loss Excluding time-lag profit/loss Earnings per share (EPS) (yen)2

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36 FY2026.3 Forecasts against Previous Forecasts 2. Asset, Equity, and Debt A. FY26.3 B. FY26.3 A-B Revised Forecasts Previous Forecasts 3,231.0 3,251.0 -20.0 1,677.5 1,664.5 +13.0 4,275.5 4,226.1 +49.4 1,332.0 1,319.0 +13.0 1,022.0 1,061.0 -39.0 51.9% 51.2% +0.7% 54.6% 53.9% +0.7% 0.61 0.64 -0.03 0.53 0.56 -0.03 3.6% 3.2% +0.43% 2 Calculated with 50% of issued hybrid bonds as equity. A. FY26.3 B. FY26.3 A-B Revised Forecasts Previous Forecasts 5.7% 5.1% +0.6% Excluding time-lag profit/loss 5.2% 4.9% +0.3% 4.1% 3.6% +0.4% 8.6% 7.4% +1.3% 5.6% 5.6% ±0.0% 8.4% 7.6% +0.9% 7.7% 7.3% +0.4% Shareholders' equity Increase in Profit attributable to owners of the parent, etc. Book value per share (BPS) (yen)1 Shareholders’ equity ratio After adjustment2 Debt/Equity ratio DOE1,3 Change in Shareholder Return Policy (DOE Level) 3 DOE = Annual dividends per share (DPS) / Shareholders' equity excluding accumulated other comprehensive income per share 　 (average of the beginning and the end of each fiscal year) ROE Remarks ROIC4 4 ROIC = NOPAT / Invested capital (average of the beginning and the end of each fiscal year) 　NOPAT = Ordinary profit + Interest expenses - Interest income - Income taxes Invested capital = Shareholders' equity + Balance of interest-bearing debts (excluding risk-free leased liabilities) 1 The FY26.3 forecast for "Book balue per share" and "DOE"which was announced on October 30, 2025, does not reflect the effect of the share buyback executed on and after October 1,2025. Excluding time-lag profit/loss Domestic Energy International Energy Life & Business Solutions After ad justment2 Interest-bearing debts Decrease due to the sale of a U.S. thermal power plant, etc. billion yen Remarks Total assets Decrease due to the sale of a U.S. thermal power plant, etc. Shareholders' equity excluding accumulated other comprehensive income Increase in Profit attributable to owners of the parent, etc.

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37 FY2026.3 Forecasts against Previous Forecasts 3. Cash Flow and Investment A. FY26.3 B. FY26.3 A-B Revised Forecasts Previous Forecasts 299.0 299.0 ±0.0 90.0 90.0 ±0.0 209.0 209.0 ±0.0 64.0 64.0 ±0.0 95.0 95.0 ±0.0 50.0 50.0 ±0.0 271.0 271.0 ±0.0 137.0 137.0 ±0.0 A. FY26.3 B. FY26.3 A-B Revised Forecasts Previous Forecasts 314.0 293.0 +21.0 254.0 254.0 ±0.0 60.0 39.0 +21.0 Investment (A+B) billion yen Remarks International Energy Life & Business Solutions Capital expenditures1 Investment for quality improvement (A) Investment for growth (B) Domestic Energy Cash flows from operating activities Increase in profits from upstream businesses in the U.S., etc. Cash flows from investing activities2 Free cash flow3 Depreciation (including amortization of goodwill) 1 Capital expenditures (included in investments) = Investments – Investments for subsidiaries and associates and M&A billion yen Remarks 2 Forecasts are amount of investment.

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38 FY2026.3 Forecasts against Previous Forecasts 4. Customer Accounts and Sales Volume A. FY26.3 B. FY26.3 A-B (A-B)/B Remarks Revised Forecasts Previous Forecasts 11,007 11,007 ±0 ±0% A. FY26.3 B. FY26.3 A-B (A-B)/B Remarks Revised Forecasts Previous Forecasts 6,598 6,598 ±0 ±0% 1,669 1,669 ±0 ±0% 4,929 4,929 ±0 ±0% 16,602 16,602 ±0 ±0% A. FY26.3 B. FY26.3 A-B Revised Forecasts Previous Forecasts 17.6 17.6 ±0.0 Consolidated gas sales volume (million m3)1,2 Residential Non-residential Electricity sales volume (GWh)2 Number of customer accounts (thousands) 2 Gas sales volume and electricity sales volume reflect the estimated usage amount for the period between the last meter reading day in the account closing month and the account closing date, as the revenue for gas sales and electricity sales are estimated and recorded based on the Implementation Guidance on Accounting Standard for Revenue Recognition. Remarks Average temperature (℃) 1 45MJ/m3

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39 FY2026.3 Forecasts against Previous Forecasts 5. Segment Sales and Profit A. FY26.3 B. FY26.3 A-B (A-B)/B Remarks Revised Forecasts Previous Forecasts 2,050.0 2,040.0 +10.0 +0.5% 1,650.0 1,650.0 ±0.0 ±0% 140.0 130.0 +10.0 +7.7% Increase in profits from U.S. 320.0 320.0 ±0.0 ±0% -60.0 -60.0 ±0.0 - 186.0 165.0 +21.0 +12.7% 184.0 163.0 +21.0 +12.9% Domestic Energy 75.5 67.5 +8.0 +11.9% Time-lag effect, etc. Excluding time-lag profit/loss 58.5 61.5 -3.0 -4.9% Electricity 20.0 22.0 -2.0 -9.1% International Energy 74.0 61.0 +13.0 +21.3% Increase in profits from U.S. businesses, etc. 34.0 34.0 ±0.0 ±0% Adjustments 0.5 0.5 ±0.0 ±0% 2.0 2.0 ±0.0 ±0% 17.0 6.0 +11.0 +183.3% 14.0 5.0 +9.0 +180.0% 3.0 1.0 +2.0 +200.0% billion yen Net Sales Domestic Energy International Energy Profit/ｌoss on time-lag effect3 (Non-consolidated) Gas (Non-consolidated) Electricity 1 Segment profit = Operating profit (loss) + Share of profit (loss) of entities accounted for using equity method 3 Included in the Domestic Energy. Life & Business Solutions Adjustments Ordinary profit Non-operating profit/loss2 Segment profit1 Life & Business Solutions 2 Excluding share of profit(loss) of entities accounted for using equity method

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41 A. FY26.3 B. FY25.3 A-B (A-B)/B Remarks Forecasts 2,050.0 2,069.0 -19.0 -0.9% Decrease in sales from the lower unit selling price of city gas, etc. 160.0 160.7 -0.7 -0.5% 186.0 189.6 -3.6 -1.9% Absence of profit from electricity market transactions realized in FY25.3, etc. 169.0 185.3 -16.3 -8.8% Absence of profit from electricity market transactions realized in FY25.3, etc. 17.0 4.2 +12.7 +297.3% (Non-consolidated) Gas 14.0 2.9 +11.0 +366.7% (Non-consolidated) Electricity 3.0 1.2 +1.7 +134.5% 142.0 134.4 +7.5 +5.6% Time-lag effect, etc. *2 129.5 133.2 -3.7 -2.8% Absence of profit from electricity market transactions realized in FY25.3, etc. 361.90 333.31 +28.59 +8.6% 321.0 308.9 +12.0 +3.9% 151.2 138.7 +12.4 +9.0% 1 Included in Domestic Energy. 2 The projected decrease in ordinary profit and the expected increase in profit attributable to owners of the parent are largely due to a change 　in the entity recording profits from the U.S. renewable energy business. 4 EBITDA = Operating profit + Depreciation (including amortization of goodwill) + Share of profit/loss of entities accounted for using equity method 5 NOPAT = Ordinary profit + Interest expenses - Interest income - Income taxes A. FY26.3 B. FY25.3 A-B Forecasts 71.8 82.4 -10.6 148.0 152.6 -4.6 3 The FY26.3 forecast for "Earnings per share"which was announced on October 30, 2025, does not reflect the effect of the share buyback executed on and after October 1,2025. Crude oil price ($/bbl) October 2025 to March 2026 : 70 $/bbl Excluding time-lag profit/loss Excluding time-lag profit/loss Earnings per share (EPS) (yen)3 billion yen EBITDA4 NOPAT5 Time-lag effect1 Profit attributable to owners of the parent Net sales Operating profit Ordinary profit Exchange rate (yen/$) October 2025 to March 2026 : 150 yen/$ Remarks FY2026.3 Forecasts 1. Net Sales and Profit 2

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42 FY2026.3 Forecasts 2. Asset, Equity, and Debt A. FY26.3 B. FY25.3 A-B Forecasts year end 3,231.0 3,200.5 +30.5 1,677.5 1,688.7 -11.2 4,275.5 4,254.1 +21.4 1,332.0 1,302.0 +29.9 1,022.0 972.4 +49.5 51.9% 52.8% -0.8% 54.6% 55.5% -0.9% 0.61 0.58 +0.03 0.53 0.50 +0.03 3.6% 3.0% +0.6% A. FY26.3 B. FY25.3 A-B Forecasts 5.7% 5.4% +0.3% Excluding time-lag profit/loss 5.2% 5.3% -0.1% 4.1% 4.2% -0.2% 8.6% 7.5% +1.1% 5.6% 5.3% +0.2% 8.4% 8.2% +0.2% 7.7% 8.0% -0.3% 1 The FY26.3 forecast for "book-value per share" and "DOE"which was announced on October 30, 2025, does not reflect the effect of the share buyback executed on and after October 1,2025. 2　Calculated with 50% of issued hybrid bonds as equity. After adjustment2 Debt/Equity ratio DOE3 4 ROIC = NOPAT / Invested capital (average of the beginning and the end of each fiscal year) 　NOPAT = Ordinary profit + Interest expenses - Interest income - Income taxes Invested capital = Shareholders' equity + Balance of interest-bearing debts (excluding risk-free leased liabilities ROE ROIC4 3 DOE = Annual dividends per share (DPS) / Shareholders' equity excluding accumulated other comprehensive income per share 　　 (average of the beginning and the end of each fiscal year) The FY26.3 forecast for DOE does not reflect the effect of the share buyback executed on and after July 1,2025. Domestic Energy International Energy Life & Business Solutions After ad justment2 Interest-bearing debts Remarks Shareholders' equity Decrease in foreign currency translation adjustments due to yen appreciation, etc. Book value per share (BPS) (yen)1 Total assets Shareholders' equity excluding accumulated other comprehensive income Shareholders’ equity ratio Excluding time-lag profit/loss billion yen Remarks

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43 FY2026.3 Forecasts 3. Cash Flow and Investment A. FY26.3 B. FY25.3 A-B Forecasts 299.0 283.1 +15.8 90.0 73.7 +16.2 209.0 209.4 -0.4 64.0 34.1 +29.8 95.0 112.9 -17.9 50.0 62.3 -12.3 271.0 221.7 +49.2 137.0 127.5 +9.4 A. FY26.3 B. FY25.3 A-B Forecasts 314.0 283.6 +30.3 254.0 255.6 -1.6 60.0 28.0 +31.9 3 Free cash flow = Cash flows from operating activities - Cash flows from investing activities Free cash flow 3 2 Forecasts are amount of investment. Cash flows from operating activities Cash flows from investing activities2 1 Capital expenditures (included in investments) = Investments – Investments for subsidiaries and associates and M&A billion yen Remarks Capital expenditures1 Depreciation (including amortization of goodwill) International Energy Life & Business Solutions Investment for growth (B) Domestic Energy Investment for quality improvement (A) Investment (A+B) billion yen Remarks

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44 FY2026.3 Forecasts 4. Customer Accounts and Sales Volume A. FY26.3 B. FY25.3 A-B (A-B)/B Remarks Forecasts year end 11,007 10,711 +297 +2.8% A. FY26.3 B. FY25.3 A-B (A-B)/B Remarks Forecasts 6,598 6,650 -52 -0.8% 1,669 1,659 +11 +0.7% 4,929 4,992 -63 -1.3% 16,602 16,982 -380 -2.2% A. FY26.3 B. FY25.3 A-B Forecasts 17.6 18.2 -0.6Average temperature (℃) 1 45MJ/m 3 2 Gas sales volume and electricity sales volume reflect the estimated usage amount for the period between the last meter reading day in the account closing month and the account closing date, as the revenue for gas sales and electricity sales are estimated and recorded based on the Implementation Guidance on Accounting Standard for Revenue Recognition. Electricity sales volume (GWh)2 Remarks Consolidated gas sales volume (million m3)1,2 Residential Non-residential Number of customer accounts (thousands)

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45 FY2026.3 Forecasts 5. Segment Sales and Profit A. FY26.3 B. FY25.3 A-B (A-B)/B Remarks Forecasts 2,050.0 2,069.0 -19.0 -0.9% 1,650.0 1,737.9 -87.9 -5.1% Decrease in sales from the lower unit selling price of city gas, etc. 140.0 128.1 +11.8 +9.2% 320.0 282.4 +37.5 +13.3% -60.0 -79.5 +19.5 - 186.0 189.6 -3.6 -1.9% 184.0 181.3 +2.6 +1.4% Domestic Energy 75.5 77.5 -2.0 -2.6% Excluding time-lag profit/loss 58.5 73.2 -14.7 -20.2% Electricity 20.0 39.8 -19.8 -49.8% Absence of profit from electricity market transactions realized in FY25.3, etc. International Energy 74.0 71.9 +2.0 +2.9% 34.0 28.7 +5.2 +18.2% Increase in income from real estate business, etc. Adjustments 0.5 3.1 -2.6 -84.0% 2.0 8.2 -6.2 -75.8% 17.0 4.2 +12.7 +297.3% 14.0 2.9 +11.0 +366.7% 3.0 1.2 +1.7 +134.5% (Non-consolidated) Gas (Non-consolidated) Electricity 1 Segment profit = Operating profit (loss) + Share of profit (loss) of entities accounted for using equity method 2 Excluding share of profit(loss) of entities accounted for using equity method Profit/ｌoss on time-lag effect3 International Energy Life & Business Solutions Adjustments Net Sales Domestic Energy billion yen Ordinary profit Non-operatin g profit/loss2 Segment profit1 Life & Business Solutions 3 Included in the Domestic Energy.

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47 Net impact on consolidated ordinary profit Segment ImpactSegmentRange of fluctuation (for the rest of the fiscal year) -1.16 billion yen PositiveInternational Energy +1USD/bbl Crude oil price (JCC) NegativeDomestic Energy -1.21 billion yen PositiveInternational Energy+1JPY/USD (yen depreciation) Exchange rate NegativeDomestic Energy Impact on residential gas sales volumeRange of fluctuation -7%+1 degree CelsiusAtmospheric and water temperatures Sales Volume & Profit Sensitivity to External Factors Atmospheric and water temperatures Atmospheric and water temperatures Crude oil price and exchange rate Crude oil price and exchange rate The table shows the potential impact of changes in each indicator from October 1, 2025, onward on the results for the current fiscal year.

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48 Time-lag loss Time-lag profit 60 70 80 90 100 4⽉ 7⽉ 10⽉ 1⽉ ($/bbl) FY25.3 130 140 150 160 4⽉ 7⽉ 10⽉ 1⽉ FY25.3 (yen/$) FY26.3 Assumption 150 yen/$ FY26.3FY25.3FY24.3 (billion yen) Full year forefast (2Q Cumulative)2Q1QFull year4Q3Q2Q1QFull year4Q3Q2Q1Q 17.019.15.114.04.2-1.10.80.44.228.5-8.1-1.45.732.3Time-lag profit/loss 差損益 14.015.14.410.72.9-1.70.11.43.114.6-7.9-1.71.123.1Gas 3.04.00.73.21.20.60.7-1.01.013.9-0.20.24.69.2Electricity 【Time-lag profit/loss差損益(ガス)のイメージ】 FY26.3 FY26.3 FY26.3 Forecast Time-lag profit 14.0 billion yen 2Q in FY26.3 Time-lag profit 15.1 billion yen Crude Oil Price, Exchange Rate, and Time-Lag Effect 3Q&4Q of FY26.3 Assumption 70$/bbl Crude Oil Price (JCC)Crude Oil Price (JCC) Exchange RateExchange Rate Time-lag effect (Quarterly results)Time-lag effect (Quarterly results) JanuaryOctoberJulyAprilJanuaryOctoberJulyApril FY24.3 Time-lag profit 14.6 billion yen FY25.3 Time-lag profit 2.9 billion yen Revenues Costs

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49 Foreign Currency Translation Adjustment Non- current assets 2,217.6 Non- current assets 2,387.7 Non- current assets 2,358.8 Current assets 762.4 Current assets 812.7 Current assets 837.1 Net assets 1,604.9 Net assets 1,739.2 Net assets 1,718.3 Non-current liabilities 981.1 Non-current liabilities 1,051.4 Non-current liabilities 998.9 Current liabilities 393.9 Current liabilities 409.7 Current liabilities 478.7 FY25.3 Year-End Results interest-bearing debts 1015.1 55.1% (52.3%)55.5% (52.8%)55.9% (52.9%)Shareholders’ equity ratio1 0.53 (0.61)0.50 (0.58) 0.51 (0.59)D/E ratio1 FY24.3 Year-End Results Total assets 2,980.1 Total assets 3,200.5 (billion yen) 1 The figures are calculated with 50% of issued hybrid bonds (175 billion yen) as equity. The figures in parentheses are the numbers before the adjustment. 2 Figures in parentheses show the increase/decrease from the end of FY25.3. 3 Exchange rates are based on the end of December, as our overseas subsidiaries have a year-end date of December 31. FY26.3 2Q-End Results Total assets 3,195.9 FY26.3 2Q end2 FY25.3 Year end FY24.3 Year end 147.6 billion yen (-68.9) 216.6billion yen140.5 billion yen Foreign currency translation adjustments 144.8 yen/$ （-13.4)158.2 yen/$141.8 yen/$Exchange rate3 Reference Foreign currency translation adjustments Actual changes  The fluctuation range for the Foreign Currency Translation Adjustment account changes by 40 billion yen to 50 billion yen in response to a 10 yen depreciation of the yen.

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50 URLItem (month of publication) Daigas Group>IR Information https://www.daigasgroup.com/en/ir/IR Information Website Daigas Group>IR Information>Fact Book■Fact Book 2025 (October 2025) Daigas Group>IR Information>Integrated Report■Integrated Report 2025 (September 2025) Daigas Group>IR Information>Management Vision/Business Plans> Annual Business Plan ■Business Plan for FY2026.3 (March 2025) (Material) Daigas Group>IR Information>Management Vision/Business Plans> Challenges to Carbon Neutrality (Video) The video presentation ■Energy Transition 2050 (February 2025) Daigas Group>IR Information>Management Vision/Business Plans> Medium- and Long-Term Business Plans ■Medium-Term Management Plan 2026 (March 2024) NEW IR Reference Materials

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