National Fuel Gas Company (“National Fuel” or the “Company”) (NYSE:NFG) today announced consolidated results for the second quarter of its 2026 fiscal year.

SECOND QUARTER FISCAL 2026 SUMMARY

• GAAP earnings of $247.7 million, or earnings per share (EPS) of $2.59, compared to GAAP earnings of $216.4 million, or $2.37 per share, in the prior year.
• Adjusted EPS of $2.71, an increase of 13% from the prior year. See non-GAAP reconciliation on page 2.
• Net cash provided by operating activities of $657 million, with free cash flow of $160 million (as defined on page 22) through the second quarter year-to-date, a $111 million increase from the prior year.
• Integrated Upstream and Gathering segment adjusted EPS of $1.67, an increase of 21% compared to the prior year, driven by a 17% increase in natural gas price realizations.
• Utility segment net income of $65 million, an increase of 3% compared to the prior year, as continued investments in system modernization programs in New York and Pennsylvania supported an increase in revenue.
• Supply Corporation entered into a precedent agreement to provide 94,000 dekatherms per day of incremental capacity in connection with its new Line N System Upgrade Project in southwest Pennsylvania, targeted for completion in late 2028.
• Commenced construction on both the Tioga Pathway and Shippingport Lateral expansion projects, which remain on track for a late calendar year 2026 in-service date.
• The Company is revising its fiscal 2026 adjusted EPS guidance range of $7.45 to $7.75 per share, or $7.60 per share at the midpoint.

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National Fuel is an integrated energy company reporting financial results for three operating segments: Integrated Upstream and Gathering, Pipeline and Storage, and Utility. Additional information about National Fuel is available at www.nationalfuel.com.