Great Basin Expansion Project binding open season closed; estimated $800M-$1.2B capex

Southwest Gas Holdings, Inc.

Great Basin closed binding open season for 2028 Expansion Project; incremental capacity of ~1.25 Bcf/d.
Estimated capital investment of $800M to $1.2B, subject to FERC approval and execution of binding precedent agreements.
Minimum 20-year transportation agreements with estimated rate $14-$17/Dth/month.
Open season extended due to strong shipper demand; final precedent agreements expected Q3 2025.
Project not reflected in 2025 guidance; no guidance update at this time.

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