CenterPoint Energy Completes $2.62B Sale of Vectren Energy Delivery of Ohio

Overview & Transaction Summary

On October 1, 2026, CenterPoint Energy Resources Corp. ("Seller"), an indirect, wholly owned subsidiary of CenterPoint Energy, Inc. (NYSE: CNP), completed the previously announced sale of all issued and outstanding equity interests in Vectren Energy Delivery of Ohio, LLC ("VEDO") to National Fuel Gas Company ("Buyer").

The total purchase price is $2.62 billion, subject to post-closing adjustments based on net working capital, regulatory assets and liabilities, and capital expenditures.

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Consideration Breakdown

1. Cash Consideration:

   • $1.42 billion in cash paid at closing, subject to working capital and regulatory balance adjustments.

2. Seller Note Agreement:

   • $1.20 billion promissory note issued by National Fuel Gas Company to CenterPoint Energy Resources Corp.
   • Interest Rate: 6.50% per annum.
   • Maturity Date: September 30, 2027.
   • Covenants & Terms: Includes customary affirmative and negative covenants, such as a maximum consolidated indebtedness to capitalization ratio of 0.65 to 1.0 (or matching the Buyer's primary credit facility) and negative pledges on asset transfers and liens. It also provides for optional covenant defeasance upon irrevocable deposit of debt service funds.

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Strategic & Balance Sheet Implications

• Deleveraging & Liquidity: CenterPoint generates immediate cash proceeds of $1.42 billion, with an additional $1.20 billion yielding 6.50% annual interest over a one-year duration, supporting corporate liquidity, capital expenditure programs, and balance sheet strengthening.
• Portfolio Optimization: This transaction completes CenterPoint's planned exit from Ohio natural gas local distribution company (LDC) operations, sharpening the company's operational focus on its remaining regulated electric and natural gas footprints.