Spire SR

Spire Inc. is the holding company for natural gas utilities and related businesses, operating primarily through its subsidiaries Spire Missouri Inc., Spire Alabama Inc., Spire Gulf Inc., and Spire Mississippi Inc. The company is engaged in the purchase, retail distribution, and sale of natural gas to residential, commercial, and industrial customers. Its core activities include regulated gas utility operations, natural gas marketing, and midstream transportation and storage services. Spire Inc. focuses on infrastructure investment, organic growth, and innovation to transform its business and pursue long-term value creation.

Spire Inc. generates revenue through the sale and delivery of natural gas, transportation services, and marketing and midstream operations. The Gas Utility segment earns revenue from residential, commercial, and industrial gas sales, as well as transportation fees for customers who procure their own gas. The Gas Marketing segment derives income from the procurement and physical delivery of natural gas to a diverse customer base across the central and southern United States. The Midstream segment earns revenue from transportation and storage of natural gas via pipelines and storage facilities, including firm contracts with Spire Missouri and third parties.

The company operates through the following segments: Gas Utility, Gas Marketing and Midstream.

• Gas Utility: This segment includes the regulated operations of Spire Missouri, Spire Alabama, Spire Gulf, and Spire Mississippi. These utilities purchase natural gas from wholesale markets and transport it through interstate pipelines for distribution to end users. Spire Missouri is the largest natural gas distribution utility in Missouri, serving approximately 1.2 million customers in St. Louis, Kansas City, and other areas. Spire Alabama is the largest natural gas distributor in Alabama, serving more than 0.4 million customers in central and northern Alabama, including Birmingham and Montgomery. Spire Gulf and Spire Mississippi serve approximately 0.1 million customers in the Mobile, Alabama area and south-central Mississippi.
• Gas Marketing: This segment is conducted through Spire Marketing Inc., which provides natural gas marketing services throughout the U. S. Spire Marketing engages in the procurement and physical delivery of natural gas to large commercial and industrial customers, as well as wholesale transactions with producers, pipelines, power generators, municipalities, storage operators, and utility companies. The business uses risk management strategies, including exchange-traded derivatives, to manage commodity price and volatility risks. Spire Marketing holds firm transportation and storage contracts to ensure service reliability and operational flexibility.
• Midstream: This segment includes Spire STL Pipeline, Spire MoGas Pipeline, and Spire Storage (comprising Spire Storage West and Spire Storage Salt Plains). Spire STL Pipeline is a 65-mile FERC-regulated pipeline connecting the Rockies Express Pipeline to delivery points in St. Louis County, Missouri. Spire MoGas Pipeline is a 263-mile FERC-regulated pipeline with a connected 75-mile distribution system serving utilities and the U. S. Army’s Fort Leonard Wood. Spire Storage West provides up to approximately 55 Bcf of working gas capacity in southwestern Wyoming, while Spire Storage Salt Plains offers up to 17 Bcf in north central Oklahoma. These assets support natural gas grid reliability and access to key supply basins.

Spire Inc. operates in a competitive natural gas industry where it faces rivalry from local electric companies, fuel oil, coal, and propane suppliers, as well as municipally owned gas distributors and district steam systems in urban areas. The company maintains a strong position as the largest natural gas distributor in both Missouri and Alabama, supported by exclusive franchise rights in most of its service areas. Its competitive advantages include regulated rate recovery mechanisms, diversified gas supply portfolios, and strategic midstream infrastructure that enhances supply reliability and pricing flexibility.

Spire Inc. serves approximately 1.2 million residential, commercial, and industrial customers in Missouri through Spire Missouri and more than 0.4 million customers in Alabama through Spire Alabama. Additional customers are served by Spire Gulf and Spire Mississippi in the Mobile, Alabama area and south-central Mississippi, totaling approximately 0.1 million. The company also provides transportation services to large commercial and industrial customers who procure their own gas. Spire Marketing serves a diverse base of wholesale and retail customers across the central and southern U. S., including power generators, municipalities, and utility companies.