National Fuel Gas Announces $350M Private Placement, 4.4M Shares At $79.50/Shr

National Fuel Gas Company ("National Fuel" or the "Company") announced today that it has entered into a subscription agreement (the "Subscription Agreement") with a group of investors (the "Investors") for a private placement of common stock (the "Offering"). Upon closing of the Offering, the Company expects to receive gross proceeds of $350 million, before deducting fees and expenses, resulting from the sale of approximately 4.4 million shares of common stock at a purchase price of $79.50 per share. The Offering is expected to close on December 17, 2025, subject to the satisfaction of the closing conditions set forth in the Subscription Agreement.

National Fuel intends to use the net proceeds from the Offering for general corporate purposes, including to finance a portion of the purchase price for National Fuel's previously announced acquisition of CenterPoint's Ohio regulated gas utility business. With this Offering, National Fuel has satisfied its common equity needs in connection with that transaction, in line with its objective to maintain its current investment grade credit rating.