Material Event Form 8 K

Item 8.01 Other Events.

On November 25, 2024, Spire Missouri Inc. (Spire), a wholly owned subsidiary of Spire Inc. (NYSE: SR), filed a general rate case with the Missouri Public Service Commission (MoPSC) that includes new proposed rates for its service areas. The case proposes an increase in base rates, reflecting recovery of system investments and operating costs necessary to maintain the safety and reliability of its natural gas distribution systems, as well as to support enhancements to customer service.

Spire's request, if approved, represents a base rate increase of $289.5 million. Spire is already recovering $53.6 million from customers through the Infrastructure System Replacement Surcharge (ISRS), resulting in a net base rate increase request of $235.9 million. The proposed rates are calculated on a filed rate base of $4,386 million.

The rate base has increased by 32 percent since Spire's last general rate filing test year ended September 30, 2022, reflecting the significant investment made in infrastructure upgrades and other systems. Among other things, the filing proposes changes in recovery mechanisms to address the impacts of both weather and conservation, updates the Company's cost of capital, and further aligns the tariffs of the company's service areas.

The filing assumes a common equity ratio of 55.0% and a 10.5% return on equity. We anticipate that certain measures, such as rate base, capital structure and operating costs will be updated over the course of the rate proceeding.

In accordance with Missouri law, the MoPSC has 11 months to consider this filing.