Forward-Looking Statements: This communication contains forward-looking statements within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, without limitation, statements
regarding Southwest Gas Holdings, Inc. (the Company) and the Companys expectations or intentions regarding the future. These forward-looking statements can often be identified by the use of words such as will,
predict, continue, forecast, expect, believe, anticipate, outlook, could, target, project, intend, plan,
seek, estimate, should, may and assume, as well as variations of such words and similar expressions referring to the future, and include (without limitation) statements regarding
expectations with respect to a separation of Centuri, the future performance of Centuri, Southwest Gass dividend ratios and Southwest Gass future performance. A number of important factors affecting the business and financial results of
the Company could cause actual results to differ materially from those stated in the forward - looking statements. These factors include, but are not limited to, the timing and amount of rate relief, changes in rate design, customer growth rates,
the effects of regulation/deregulation, tax reform and related regulatory decisions, the impacts of construction activity at Centuri, whether we will separate Centuri within the anticipated timeframe and the im pact to our results of operations and
financial position from the separation, the potential for, and the impact of, a credit rating downgrade, the costs to integrate MountainWest, future earnings trends, inflation, sufficiency of labor markets and similar resources, seasonal patterns,
the cost and management attention for ongoing litigation that the Company is currently engaged in, the effects of the pending tender offer and proxy contest brought by Carl Icahn and his affiliates, and the impacts of stock market volatility. In
addition, the Company can provide no assurance that its discussions about future operating margin, operating income, COLI earnings, interest expense, and capital expenditures of the natural gas distribution segment will occur. Likewise, the Company
can provide no assurance that discussions regarding utility infrastructure services segment revenues, EBITDA as a percentage of revenue, and interest expense will transpire, nor assurance regarding acquisitions or their impacts, including
managements plans or expectations related thereto, including with regard to Riggs Distler or MountainWest. Factors that could cause actual results to differ also include (without limitation) those discussed under the heading Risk
Factors in the Companys most recent Annual Report on Form 10-K and in the Companys and Southwest Gas Corporations current and periodic reports, including our Quarterly Reports on Form 10-Q, filed from time to time with the
SEC. The statements in this communication are made as of the date of this communication, even if subsequently made available by the Company on its Web site or otherwise. The Company does not assume any obligation to update the forward-looking
statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.