Page 1

spire Investor Contact : Scott W. Dudley Jr. 314-342-0878 Scott.Dudley@SpireEnergy.com Media Contact : Jessica B. Willingham 314-342-3300 Jessica . Willingham@SpireEnergy.com For Immediate Release Spire Reports Third Quarter Results STL Pipeline is pursuing all legal and regulatory avenues to ensure critical energy infrastructure remains in service for Missouri customers and communities ST . LOUIS ( August 5 , 2021 ) - Spire Inc. ( NYSE : SR ) today reported results for its fiscal third quarter ended June 30 , 2021. Highlights include : • • • Net income of $ 5.3 million ( $ 0.03 per diluted share ) , compared to a prior - period loss of $ 92.3 million , or $ 1.87 per share Net economic earnings ( NEE ) of $ 6.9 million ( $ 0.06 per share ) , compared to $ 7.3 million ( $ 0.07 per share ) a year ago Fiscal 2021 NEE guidance range of $ 4.30 - $ 4.50 per share and capital expenditures outlook of $ 590 million are reaffirmed " Thanks to the hard work and dedication of 3,600 Spire employees , we posted another solid quarter , delivering earnings comparable to a year ago , ” said Suzanne Sitherwood , president and chief executive officer . " We remain on track with our comprehensive plans to upgrade utility infrastructure and technology , all in an effort to ensure our customers receive the safe , reliable and affordable natural gas service they deserve . “ That said , our ability to meet the future energy needs of our customers in eastern Missouri could be in jeopardy . A recent federal appeals court decision vacated the 2018 FERC certificate that authorized the construction and operation of STL Pipeline . While the court decision was against the FERC , the ruling has significant implications for hundreds of thousands of homes and businesses throughout the St. Louis region . Know that we're emphatically pursuing all legal and regulatory avenues to ensure this critical energy infrastructure is available to serve our customers and communities . " Spire STL Pipeline On June 22 , 2021 , the U.S. Court of Appeals for the District of Columbia ( DC ) Circuit issued an order in a case brought by parties challenging the certificates granted by the Federal Energy Regulatory Commission ( FERC ) for construction and operation of Spire STL Pipeline that has been in service since November 2019. The decision vacated the FERC's order authorizing the pipeline and remanded the proceedings back to the FERC . STL Pipeline is critical infrastructure that more than 650,000 households and businesses in eastern Missouri rely on for reliable and affordable natural gas service . The pipeline was approved after a thorough review by the FERC using a rigorous regulatory process that has been in place for decades . In addition to providing a necessary diversity of supply , STL Pipeline was designed and constructed to uphold our commitment to the environment and the communities we serve .