UGI : June Investor Update vFINAL

Published: 2025-06-14 08:05:04 ET UGI

Published on 06/14/2025 at 08:05

June 2025

This presentation contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended). Such statements use forward-looking words such as "believe," "plan," "anticipate," "continue," "estimate," "expect," "may," or other similar words and terms of similar meaning, although not all forward-looking statements contain such words. These statements discuss plans, strategies, events or developments that we expect or anticipate will or may occur in the future. Management believes that these are reasonable as of today's date only. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond management's control; accordingly, there is no assurance that results will be realized. You should read UGI's Annual Report on Form 10-K and Quarterly reports on Form 10-Q for a more extensive list of factors that could affect results. We undertake no obligation (and expressly disclaim any obligation) to update publicly any forward-looking statement, whether as a result of new information or future events, except as required by the federal securities laws.

Management uses "adjusted net income attributable to UGI Corporation", "adjusted diluted earnings per share ("EPS")", "UGI Corporation Adjusted Earnings before interest, taxes, depreciation and amortization ("EBITDA")", "Midstream and Marketing Margin", "UGI Corporation Free Cash Flow" "AmeriGas Propane Free Cash Flow" and "UGI International Free Cash Flow", all of which are non-GAAP financial measures, when evaluating UGI's overall performance. Management believes that these non-GAAP measures provide meaningful information to investors about UGI's performance because they eliminate the impacts of (1) gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions and (2) other significant discrete items that can affect the comparison of period-over-period results. Volatility in net income attributable to UGI can occur as a result of gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions but included in earnings in accordance with U.S. generally accepted accounting principles ("GAAP").

Non-GAAP financial measures are not in accordance with, or an alternative to, GAAP and should be considered in addition to, and not as a substitute for, the comparable GAAP measures.

The tables in the Appendix reconcile adjusted diluted EPS, adjusted net income attributable to UGI Corporation, and UGI Corporation Adjusted EBITDA, Midstream and Marketing

Margin, UGI Corporation Free Cash Flow, AmeriGas Propane Free Cash Flow and UGI International Free Cash Flow to their nearest GAAP measures.

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Strategic & Financial Overview Fiscal 2025 Updates

17

Countries

~9,750

Employees1

2.5+ million

Customers1

141 years

Consecutively paying dividends

UGI Corporation is a distributor and marketer of energy products and services,

including natural gas, LPG, electricity and renewable energy solutions.

Our Segments

1. As of September 30, 2024.

4

Business Portfolio Growth Catalysts

YTD FY25

Adjusted Diluted EPS

26%

Focused Operational Transformation

Focused on transforming operations, strengthening customer relationships, driving greater performance at AmeriGas, while striving for operational excellence throughout the portfolio

Contribution1

74%

Rate Base Expansion

Robust infrastructure investment program driving 9%+ rate base CAGR with constructive regulatory recovery mechanisms

2

Utilities • 2ndlargest regulated gas utility in Pennsylvania (PA)2

Largest regulated gas utility in West Virginia (WV)

Natural Gas Demand Growth

Midstream &

Marketing

Full range of midstream services

81% fee-based margin

Strong demand outlook from projected peak day growth, customer conversions and data center driven demand in the sector

UGI International • 16 countries in Europe Disciplined Capital Allocation

AmeriGas Propane

Largest retail LPG distributor in the US3

Prudent capital allocation while investing in growth, maintaining a strong balance sheet and financial flexibility, and returning cash to shareholders through dividends

1. Excludes Corporate & Other. Year-to-date (YTD) signifies 6-month period ending March 31, 2025. Adjusted diluted EPS is a non-GAAP

measure. See Appendix for reconciliation. 2. Based on total customers. 3. Based on the volume of propane gallons distributed annually. 5

Disclaimer

UGI Corporation published this content on June 14, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 14, 2025 at 12:04 UTC.