RGC RESOURCES INC — fact timeline

RGC RESOURCES INC incurred loan of $15,000,000 with Pinnacle Bank at Term SOFR plus 100 basis points maturing August 20, 2029.

“On June 2, 2026, Roanoke Gas Company ("Roanoke"), the utility subsidiary of RGC Resources, Inc. ("Resources"), entered into an unsecured delayed-draw Promissory Note in the principal amount of $15,000,000 ("Note") through a Fourth Amendment to the Loan Agreement ("Loan Agreement") with Pinnacle Bank ("Pinnacle") originally entered on March 24, 2023 and further amended on March 31, 2024, March 31, 2025 and March 17, 2026.”

RGC RESOURCES INC amended Loan Agreement with Pinnacle Bank (effective 2026-06-02).

“On June 2, 2026, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc. (“Resources”), entered into an unsecured delayed-draw Promissory Note in the principal amount of $15,000,000 (“Note”) through a Fourth Amendment to the Loan Agreement ("Loan Agreement") with Pinnacle Bank (“Pinnacle”) originally entered on March 24, 2023 and further amended on March 31, 2024, March 31, 2025 and March 17, 2026.”

RGC RESOURCES INC entered into Note with Pinnacle Bank valued at $15,000,000 (effective 2026-06-02).

“On June 2, 2026, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc. (“Resources”), entered into an unsecured delayed-draw Promissory Note in the principal amount of $15,000,000 (“Note”) through a Fourth Amendment to the Loan Agreement ("Loan Agreement") with Pinnacle Bank (“Pinnacle”) originally entered on March 24, 2023 and further amended on March 31, 2024, March 31, 2025 and March 17, 2026.”

RGC RESOURCES INC reported second quarter ended March 31, 2026 results: net income $8.7 million, EPS $0.84 per diluted share.

“announced consolidated Company earnings of $8.7 million, or $0.84 per diluted share, for the second quarter ended March 31, 2026”

RGC RESOURCES INC amended Fourth Amendment to Private Shelf Agreement with PGIM, Inc., fka Prudential Investment Management, Inc. (effective 2026-03-30).

“On March 30, 2026, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc., entered into the Fourth Amendment to Private Shelf Agreement ("Amendment") with PGIM, Inc., fka Prudential Investment Management, Inc., (“Prudential”).”

RGC RESOURCES INC amended debt with PGIM, Inc., fka Prudential Investment Management, Inc., (“Prudential”) maturing March 31, 2029.

“On March 30, 2026, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc., entered into the Fourth Amendment to Private Shelf Agreement ("Amendment") with PGIM, Inc., fka Prudential Investment Management, Inc., (“Prudential”).”

RGC RESOURCES INC amended revolving credit of $30,000,000 with Pinnacle Bank maturing March 31, 2028.

“The Amendment extended the maturity date of the Revolving Note to March 31, 2028 and modified the maximum tiered borrowing limits of the Loan Agreement to the following: March 17, 2026 through March 31, 2027 $ 30,000,000”

RGC RESOURCES INC amended Third Amendment to the Loan Agreement with Pinnacle Bank (effective 2026-03-17).

“On March 17, 2026, Roanoke Gas Company, the utility subsidiary of RGC Resources, Inc. (“Resources”), amended and restated its Promissory Note ("Revolving Note") and entered into a Third Amendment to the Loan Agreement ("Loan Agreement") (collectively, the "Amendment") with Pinnacle Bank ("Pinnacle") originally entered on March 24, 2023 and further amended on March 31, 2024 and March 31, 2025.”

RGC RESOURCES INC amended revolving credit of $30,000,000 with Pinnacle Bank at Term SOFR plus 1.25% maturing March 31, 2027.

“On March 31, 2025, Roanoke amended and restated it's Promissory Note ("Revolving Note") with Pinnacle Bank ("Pinnacle") originally entered on March 24, 2023 and further amended on March 31, 2024. The amended and restated Revolving Note increased the principal amount to $30,000,000 and applicable interest rate from Term SOFR plus 1.10% to Term SOFR plus 1.25%, and will mature on March 31, 2027.”

RGC RESOURCES INC amended revolving credit of $25,000,000 with Pinnacle Bank maturing March 31, 2025.

“and Loan Agreement ("Amendment") with Pinnacle Bank ("Pinnacle"). The Promissory Note was originally entered into with Pinnacle on March 24, 2023 in the principal amount of $25,000,000 (the “Revolving Note”) with a maturity date of March 31,2024. The Loan Agreement was originally dated September 24, 2021 with Pinnacle, and further amended and restated on March”

RGC RESOURCES INC amended Amendment with Pinnacle Bank valued at $25,000,000 (effective 2024-03-31).

“On March 31, 2024, Roanoke Gas Company, the utility subsidiary of RGC Resources, Inc. (“Resources”), entered into an Amendment to the Promissory Note and Loan Agreement ("Amendment") with Pinnacle Bank ("Pinnacle").”

RGC RESOURCES INC amended credit facility of increased from $23 million to $25 million with Atlantic Union Bank at Term SOFR plus 2.00%, with potential reductions to Term SOFR plus 1.75% and then maturing extended to December 31, 2025.

“On March 6, 2024, RGC Midstream, LLC (“Midstream”), a wholly owned subsidiary of RGC Resources, Inc. (“Resources”), entered into the Sixth Amendment to Credit Agreement (the "Amendment") with Atlantic Union Bank (the "Bank"). As part of the Amendment, Truist Bank, a Lender under the original Credit Agreement and prior amendments, assigned their outstanding portion to the Bank. Additionally, the Amendment modifies the original Credit Agreement and prior amendments between Midstream and the Bank by increasing the availability from $23 million to $25 million and extending the maturity date to December 31, 2025. The interest rate currently remains unchanged at Term SOFR plus 2.00%, however, the Amendment allows for a reduction in the interest rate to Term SOFR plus 1.75% upon operation of the Mountain Valley Pipeline ("MVP") and a further reduction to Term SOFR plus 1.55% once distributions from MVP have commenced.”

RGC RESOURCES INC amended Note Modification Agreement with Atlantic Union Bank (effective 2024-03-06).

“Also, on March 6, 2024, Midstream entered into a Note Modification Agreement (the "Agreement") with the Bank related to the unsecured Promissory Note (the "Note") with an original principal amount of $8,000,000 dated November 1, 2021, as amended.”

RGC RESOURCES INC amended Sixth Amendment to Credit Agreement with Atlantic Union Bank (effective 2024-03-06).

“On March 6, 2024, RGC Midstream, LLC (“Midstream”), a wholly owned subsidiary of RGC Resources, Inc. (“Resources”), entered into the Sixth Amendment to Credit Agreement (the "Amendment") with Atlantic Union Bank (the "Bank").”

RGC RESOURCES INC reported first quarter ended December 31, 2023 results: net income $5,019,992, EPS $0.50 per share.

“RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $5,019,992, or $0.50 per share, for the first quarter ended December 31, 2023, compared to $3,256,405, or $0.33 per share, for the fiscal quarter ended December 31, 2022.”

RGC RESOURCES INC shareholders approved Non-binding advisory vote on named executive compensation at the 2024-01-29 meeting.

“Shareholders approved executive compensation through a non-binding advisory vote as indicated below: Shares For Shares Against Shares Abstaining 6,497,252 147,072 47,338”

RGC RESOURCES INC shareholders approved Election of three Class C directors at the 2024-01-29 meeting.

“Shareholders elected the nominees for Class C directors as listed below to serve a three-year term expiring at the Annual Meeting of Shareholders to be held in 2027: Director Shares For Shares Withheld T. Joe Crawford 6,212,707 478,955 Maryellen F. Goodlatte 5,565,774 1,125,888 Paul W. Nester 6,640,100 51,562”

Timothy J. Mulvaney was appointed as Vice President, Treasurer and Chief Financial Officer at RGC RESOURCES INC.

“On January 29, 2024, RGC Resources, Inc. ("Resources" or the "Company") appointed Timothy J. Mulvaney, the current Interim Chief Financial Officer and Treasurer, as Vice President, Treasurer and Chief Financial Officer of Resources, effective February 1, 2024.”

RGC RESOURCES INC engaged Deloitte & Touche LLP as its auditor.

“On January 26, 2024, the Audit Committee approved the engagement of Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm for the Company’s fiscal year ending September 30, 2024, effective immediately.”

Brown, Edwards & Company, L.L.P. resigned as auditor of RGC RESOURCES INC.

“In a letter dated January 8, 2024, Brown, Edwards & Company, L.L.P. (“BE”) resigned as RGC Resources, Inc.’s (the “Company”) independent registered public accounting firm.”

RGC RESOURCES INC reported the quarter ended September 30, 2023 results: net income $1,014,175, or $0.10 per share.

“Net income for the quarter ended September 30, 2023 was $1,014,175, or $0.10 per share”

RGC RESOURCES INC reported the fiscal year ended September 30, 2023 results: net income $11,299,282, or $1.14 per share.

“RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $11,299,282, or $1.14 per share, for the fiscal year ended September 30, 2023”

Timothy Mulvaney was appointed as Chief Financial Officer and Treasurer at RGC RESOURCES INC.

“Effective September 6, 2023, RGC Resources, Inc. (the “Company”) has appointed Timothy Mulvaney interim Chief Financial Officer and Treasurer.”

RGC RESOURCES INC reported the twelve months ended June 30, 2023 results: net income $10,209,447, EPS $1.03 per share.

“Net loss for the twelve months ended June 30, 2023 was $1,130,122, or $0.11 per share.”

RGC RESOURCES INC reported the quarter ended June 30, 2023 results: net income $686,816, EPS $0.07 per share.

“RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $686,816, or $0.07 per share, for the quarter ended June 30, 2023, compared to earnings of $592,527, or $0.06 per share, for the quarter ended June 30, 2022.”

RGC RESOURCES INC amended Fifth Amendment to Credit Agreement with Atlantic Union Bank and Truist Bank (effective 2023-07-28).

“entered into the Fifth Amendment to Credit Agreement (the "Amendment") with Atlantic Union Bank and Truist Bank (collectively the "Banks").”

RGC RESOURCES INC amended term loan of $14,000,000 Term Note and $8,000,000 Term Note with Atlantic Union Bank at Daily Simple SOFR plus 126.448 basis points maturing All other terms and requirements retained, including maturity..

“On June 28, 2023, RGC Midstream, LLC (“Midstream”), a wholly-owned subsidiary of RGC Resources, Inc. (“Resources”), amended and restated the $14,000,000 Term Note and $8,000,000 Term Note (collectively, the “Amended Term Notes”) entered on June 12, 2019 and November 1, 2021, respectively, as amended, with Atlantic Union Bank, effective July 1, 2023. The amendment revised each of the original Term Note’s interest rate from LIBOR plus 115 basis points to Daily Simple SOFR plus 126.448 basis points. All other terms and requirements of the Term Notes were retained.”

RGC RESOURCES INC amended Amendment with Atlantic Union Bank valued at $14,000,000 interest rate swap and $8,000,000 interest rate swap (effective 2023-06-28).

“Also, on June 28, 2023, Midstream amended and restated the $14,000,000 interest rate swap and $8,000,000 interest rate swap (collectively, the “Amendment”) initially entered on June 12, 2019 and November 1, 2021, respectively, with Atlantic Union Bank.”

RGC RESOURCES INC amended Amended Term Notes with Atlantic Union Bank valued at $14,000,000 Term Note and $8,000,000 Term Note (effective 2023-06-28).

“On June 28, 2023, RGC Midstream, LLC (“Midstream”), a wholly-owned subsidiary of RGC Resources, Inc. (“Resources”), amended and restated the $14,000,000 Term Note and $8,000,000 Term Note (collectively, the “Amended Term Notes”) entered on June 12, 2019 and November 1, 2021, respectively, as amended, with Atlantic Union Bank, effective July 1, 2023.”

Jason Field resigned as Vice President, Chief Financial Officer and Treasurer at RGC RESOURCES INC.

“On June 20, 2023, Jason Field, RGC Resources, Inc.’s (the “Company”) Vice President, Chief Financial Officer and Treasurer, notified the Company of his voluntary resignation, effective August 4, 2023.”

RGC RESOURCES INC reported twelve months ended March 31, 2023 results: net income $1,224,411, EPS $0.12 per share.

“Net loss for the twelve months ended March 31, 2023 was $1,224,411, or $0.12 per share.”

RGC RESOURCES INC reported quarter ended March 31, 2023 results: net income $6,341,886, EPS $0.64 per share.

“RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $6,341,886, or $0.64 per share, for the quarter ended March 31, 2023”

RGC RESOURCES INC: The Board approved minor technical and administrative revisions to the Company's Code of Ethics (effective 2023-04-24).

“At its meeting on April 24, 2023, the Board of Directors of RGC Resources, Inc. approved minor technical and administrative revisions to the Company's Code of Ethics.”

RGC RESOURCES INC amended Amendment with Pinnacle Bank valued at $10,000,000 (effective 2023-04-03).

“On April 3, 2023, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc. (“Resources”), amended and restated the $10,000,000 interest rate swap (the “Amendment”) initially entered on September 24, 2021 with Pinnacle Bank (“Pinnacle”).”

RGC RESOURCES INC amended term loan of $10,000,000 with Pinnacle Bank at Term SOFR plus 100 basis points.

“Also, on March 24, 2023, Roanoke amended and restated the $10,000,000 Promissory Note (the “Amended Term Note”) entered on September 24, 2021 with Pinnacle. The amendment revised the original Term Note’s interest rate from LIBOR plus 100 basis points to Term SOFR plus 100 basis points.”

RGC RESOURCES INC incurred revolving credit of $25,000,000 with Pinnacle Bank at Term SOFR plus 110 basis points maturing March 31, 2024.

“On March 24, 2023, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc. (“Resources”), entered into a Promissory Note in the principal amount of $25,000,000 (the “Revolving Note”) with Pinnacle Bank (“Pinnacle”). The Revolving Note will mature on March 31, 2024.”

RGC RESOURCES INC amended Amended Guaranty Agreement with Pinnacle Bank valued at Amendment and restatement of Guaranty Agreement (effective 2023-03-24).

“Also, on March 24, 2023, the Guaranty Agreement previously entered into on September 24, 2021 by Resources with Pinnacle was amended and restated to reflect the Amended Loan Agreement.”

RGC RESOURCES INC amended Amended Loan Agreement with Pinnacle Bank valued at Amendment and restatement of Loan Agreement (effective 2023-03-24).

“In connection with the Revolving Note and Amended Term Note, on March 24, 2023, Roanoke also amended and restated the Loan Agreement ("Amended Loan Agreement") with Pinnacle dated September 24, 2021.”

RGC RESOURCES INC amended Amended Term Note with Pinnacle Bank valued at Amendment of $10,000,000 promissory note, interest rate revised from LIBOR+100bps to Term SOFR+100bp (effective 2023-04-01).

“Also, on March 24, 2023, Roanoke amended and restated the $10,000,000 Promissory Note (the “Amended Term Note”) entered on September 24, 2021 with Pinnacle.”

RGC RESOURCES INC entered into Revolving Note with Pinnacle Bank valued at $25,000,000 promissory note (effective 2023-03-24).

“On March 24, 2023, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc. (“Resources”), entered into a Promissory Note in the principal amount of $25,000,000 (the “Revolving Note”) with Pinnacle Bank (“Pinnacle”).”

RGC RESOURCES INC reported the quarter ended December 31, 2022 results: net income $3,256,405, or $0.33, per share, EPS $0.33 per share.

“RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $3,256,405, or $0.33, per share for the quarter ended December 31, 2022.”

RGC RESOURCES INC shareholders voted on Non-binding shareholder advisory vote on the frequency of the non-binding executive compensation advisory vote at the 2023-01-23 meeting.

“Shareholders advisory vote on the recommended frequency of the non-binding vote on executive compensation is indicated below: Shares For 1 Year 2 Years 3 Years Shares Abstaining 5,666,462 30,881 253,726 106,147”

RGC RESOURCES INC shareholders approved Non-binding shareholder advisory vote on named executive compensation at the 2023-01-23 meeting.

“Shareholders approved executive compensation through a non-binding advisory vote as indicated below: Shares For Shares Against Shares Abstaining Broker Non Votes 5,905,714 88,366 63,136 1,584,731”

RGC RESOURCES INC shareholders approved Approval of an additional 200,000 Common Shares for issuance under the Restricted Stock Plan for Outside Directors at the 2023-01-23 meeting.

“Shareholders approved an additional 200,000 Common Shares of the Company for issuance under the Restricted Stock Plan for Outside Directors as indicated below: Shares For Shares Against Shares Abstaining Broker Non Votes 5,832,249 173,500 51,467 1,584,731”

RGC RESOURCES INC shareholders approved Ratification of selection of Brown Edwards & Company, L.L.P. as independent auditors for the fiscal year ending September 30, 2023 at the 2023-01-23 meeting.

“Shareholders approved the selection by the Audit Committee of the Board of Directors of the firm Brown Edwards & Company, L.L.P. as independent auditors for the fiscal year ending September 30, 2023, by the following vote: Shares For Shares Against Shares Abstaining 7,512,378 98,470 31,099”

RGC RESOURCES INC shareholders approved Election of four Class B directors to serve a three-year term expiring at the Annual Meeting of Shareholders to be held in 2026 at the 2023-01-23 meeting.

“Shareholders elected the nominees for Class B directors as listed below to serve a three-year term expiring at the Annual Meeting of Shareholders to be held in 2026: Director Shares For Shares Withheld Broker Non Votes Nancy Howell Agee 5,921,148 136,068 1,584,731 Jacqueline L. Archer 6,003,965 53,251 1,584,731 Robert B. Johnston 3,846,573 2,210,643 1,584,731 J. Allen Layman 5,857,605 199,611 1,584,731”

Robert L. Wells, II departed as Vice President and Chief Information Officer, Assistant Secretary and Assistant Treasurer at RGC RESOURCES INC.

“After 38 years of service to Resources and Roanoke Gas Company, Robert L. Wells, II is stepping down from his role of Vice President and Chief Information Officer, Assistant Secretary and Assistant Treasurer of Resources.”

Lawrence T. Oliver changed role as Senior Vice President, Regulatory and External Affairs, and Secretary at RGC RESOURCES INC.

“Lawrence T. Oliver, the current Vice President and Secretary of Resources was appointed as Senior Vice President, Regulatory and External Affairs, and Secretary of Resources.”

C. Brooke Miles was appointed as Vice President, Human Resources, Assistant Treasurer and Assistant Secretary at RGC RESOURCES INC.

“C. Brooke Miles was appointed Vice President, Human Resources, Assistant Treasurer and Assistant Secretary of RGC Resources, Inc. ("Resources").”

RGC RESOURCES INC amended credit facility of $78,000,000 with PGIM, Inc., fka Prudential Investment Management, Inc., (“Prudential”) maturing December 6, 2025.

“On December 6, 2022, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc., entered into the Third Amendment to Private Shelf Agreement ("Amendment") with PGIM, Inc., fka Prudential Investment Management, Inc., (“Prudential”). The Amendment modifies the original Private Shelf Facility Agreement ("Shelf Agreement") with Prudential dated as of September 30, 2015 and prior amendments between Roanoke and Prudential by extending the provision for borrowing under the Shelf Agreement for an additional three-year period through December 6, 2025, unless terminated by either party with a 30 day written notice. The Amendment also increases the aggregate amount available for borrowing to $78,000,000.”