RGC RESOURCES Business Summary

RGC Resources, Inc. (RGCO) operates as a diversified energy holding company that generates revenue primarily through the regulated distribution and sale of natural gas to approximately 63,700 residential, commercial, and industrial customers in the Roanoke, Virginia, metropolitan area. Its business model is structured into three primary segments: Gas Utility, which encompasses the operations of its principal subsidiary Roanoke Gas Company; Investment in Affiliates, which manages its minority interest in the Mountain Valley Pipeline (MVP) and associated midstream infrastructure; and Parent & Other, covering unregulated energy services and renewable natural gas (RNG) initiatives. Revenue is stabilized through regulatory recovery mechanisms approved by the Virginia State Corporation Commission, including the Steps to Advance Virginia’s Energy (SAVE) rider and Weather Normalization Adjustments. RGCO functions as a small-cap local distribution company (LDC) with a localized monopoly in its service territory, positioning it as a niche utility player relative to larger regional and national peers such as NiSource Inc., Atmos Energy Corporation, and Dominion Energy. The leadership team is headed by Paul W. Nester, who has served as President and CEO since 2020 and previously held the role of CFO, bringing a financial pedigree rooted in his tenure at KPMG and over a decade of executive experience within the firm. Key executive support includes Timothy J. Mulvaney, who serves as Vice President and CFO, and Carl James Shockley, Jr., the Vice President and COO of Roanoke Gas Company, who oversees the technical integrity of the company’s 1,180-mile pipeline network. Strategic oversight is provided by a Board of Directors chaired by John B. Williamson III, a veteran utility executive with over 30 years of experience at the company. RGCO maintains a stable capital structure supported by significant institutional ownership from major investment firms, including The Vanguard Group, BlackRock, Inc., and T. Rowe Price Associates, which anchor the company’s long-term infrastructure modernization and expansion goals.