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8-K
CENTERPOINT ENERGY INCTXTXtruefalse00011303100001042773 0001130310 2022-01-10 2022-01-10 0001130310 cnp:CenterpointEnergyResourcesCorpMember 2022-01-10 2022-01-10 0001130310 cnp:SixPointSixTwoFivePercentageSeniorNotesDueTwoThousandThirtySevenMember cnp:CenterpointEnergyResourcesCorpMember cnp:NewYorkStockExchangeMember 2022-01-10 2022-01-10 0001130310 cnp:NewYorkStockExchangeMember us-gaap:CommonStockMember 2022-01-10 2022-01-10 0001130310 us-gaap:CommonStockMember cnp:ChicagoStockExchangeMember 2022-01-10 2022-01-10
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM
8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 10, 2022
 
 
CENTERPOINT ENERGY, INC.
(Exact name of registrant as specified in its charter)
 
 
 
         
Texas
  
1-31447
  
74-0694415
(State or other jurisdiction
of incorporation)
  
(Commission
File Number)
  
(IRS Employer
Identification No.)
 
     
1111 Louisiana
Houston Texas
  
77002
(Address of principal executive offices)
  
(Zip Code)
Registrant’s telephone number, including area code: (713)
207-1111
 
 
CENTERPOINT ENERGY RESOURCES CORP.
(Exact name of registrant as specified in its charter)
 
 
 
         
Delaware
  
1-13265
  
76-0511406
(State or other jurisdiction
of incorporation)
  
(Commission
File Number)
  
(IRS Employer
Identification No.)
 
     
1111 Louisiana
Houston Texas
  
77002
(Address of principal executive offices)
  
(Zip Code)
Registrant’s telephone number, including area code: (713)
207-1111
 
 
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
 
  ☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
  ☐
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
 
  ☐
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
 
  ☐
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
 
             
Registrant
  
Title of each class
  
Trading
Symbol(s)
   
Name of each exchange
on which registered
CenterPoint Energy, Inc.
  
Common Stock, $0.01 par value
  
CNP
   
The New York Stock Exchange
  
Chicago Stock Exchange, Inc.
CenterPoint Energy Resources Corp.
  
6.625% Senior Notes due 2037
  
n/a
   
The New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2).
Emerging Growth Company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
 
 
 
 
Item 2.01.
Completion of Acquisition or Disposition of Assets.
On January 10, 2022, CenterPoint Energy Resources Corp., a Delaware corporation (“Seller”) and a wholly owned subsidiary of CenterPoint Energy, Inc. (the “Company”), completed the previously announced sale of its Arkansas and Oklahoma regulated natural gas LDC businesses for approximately $2.15 billion, including recovery of approximately $425 million of storm-related incremental natural gas costs incurred in February 2021 and subject to certain adjustments, including adjustments based on net working capital, regulatory assets and liabilities and capital expenditures at closing (the “Transaction”), pursuant to the Asset Purchase Agreement (the “Purchase Agreement”) dated as of April 29, 2021, by and between Seller and Southern Col Midco, LLC, a Delaware limited liability company and an indirect, wholly-owned subsidiary of Summit Utilities, Inc. (“Buyer”).
The foregoing description of the Purchase Agreement and the transactions contemplated thereby does not purport to be complete and is subject to and qualified in its entirety by reference to the complete text of the Purchase Agreement, which was filed as Exhibit 2.4 to the Quarterly Report on Form
10-Q
filed by Seller and the Company with the Securities and Exchange Commission on May 6, 2021, and the terms of which are incorporated herein by reference.
Unaudited Pro Forma Condensed Combined Financial Information
The unaudited pro forma condensed combined financial information of Seller as of and for the nine months ended September 30, 2021 and for the year ended December 31, 2020 giving effect to the Transaction, including such information required by Article 11 of Regulation
S-X,
is set forth in Exhibit 99.1 hereto and incorporated herein by reference.
 
Item 7.01.
Regulation FD Disclosure.
On January 10, 2022, the Company issued a press release announcing, among other things, the completion of the Transaction. A copy of this press release is furnished as Exhibit 99.2 hereto and is incorporated herein by reference.
The information furnished in Item 7.01 and Exhibit 99.2 is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
 
Item 9.01.
Financial Statements and Exhibits.
(b) Pro Forma Financial Information.
The unaudited pro forma condensed combined financial information of Seller as of and for the nine months ended September 30, 2021 and for the year ended December 31, 2020 giving effect to the Transaction, including such information required by Article 11 of Regulation
S-X,
is set forth in Exhibit 99.1 hereto and incorporated herein by reference.
(d) Exhibits.
 
     
EXHIBIT
NUMBER
   
EXHIBIT DESCRIPTION
   
99.1    Unaudited Pro Forma Condensed Combined Financial Information of CenterPoint Energy Resources Corp. as of and for the nine months ended September 30, 2021 and for the year ended December 31, 2020
   
99.2    Press Release issued by the Company on January 10, 2022
   
104    Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
 
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
             
       
CENTERPOINT ENERGY, INC.
       
Date: January 10, 2022       By:  
/s/ Monica Karuturi
            Monica Karuturi
            Executive Vice President and General Counsel
     
       
CENTERPOINT ENERGY RESOURCES CORP.
       
        By:  
/s/ Monica Karuturi
            Monica Karuturi
            Executive Vice President and General Counsel
EX-99.1

EXHIBIT 99.1

CENTERPOINT ENERGY RESOURCES CORP.

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION

On January 10, 2022, CenterPoint Energy Resources Corp., a Delaware corporation (the “Seller”) and a wholly-owned subsidiary of CenterPoint Energy, Inc. (the “Company”), completed the sale (the “Disposition”) contemplated by the Asset Purchase Agreement (the “Purchase Agreement”) dated April 29, 2021, by and between Seller and Southern Col Midco, LLC, a Delaware limited liability company and an affiliate of Summit Utilities, Inc. (“Buyer”), pursuant to which Seller agreed to sell its Arkansas and Oklahoma regulated natural gas businesses (the “Business”) to Buyer. The purchase price for the Business was $2.150 billion, including recovery of $425 million of storm-related incremental natural gas costs incurred in February 2021 and subject to adjustment as set forth in the Purchase Agreement, including adjustments based on net working capital, regulatory assets and liabilities and capital expenditures at closing. The Disposition was considered an asset sale for tax purposes requiring the net deferred tax liabilities of approximately $129 million as of September 30, 2021 to be recognized in earnings at the closing of the Disposition; therefore, any deferred tax assets and liabilities within the Business were not included in the carrying amount of the assets and liabilities purchased by the Buyer.

The Disposition constitutes a significant disposition for the Seller for purposes of Item 2.01 of Current Report on Form 8-K. As a result, the following unaudited pro forma condensed combined statements of income for the nine months ended September 30, 2021 and unaudited pro forma condensed combined statements of income for the year ended December 31, 2020 are presented as if the Disposition and related events had occurred on January 1, 2020. The following unaudited pro forma condensed combined balance sheet as of September 30, 2021 is presented as if the Disposition and related events had occurred on September 30, 2021.

Although the Business met the held for sale criteria, the Disposition does not represent a strategic shift to the Seller as it will retain significant operations in, and will continue to invest in, its regulated natural gas businesses. Therefore, the assets and liabilities associated with the Disposition are not reflected as discontinued operations on the Seller’s Condensed Statements of Consolidated Income and the December 31, 2020 Condensed Consolidated Balance Sheet was not required to be recast for assets held for sale. Since the depreciation on the Business continued to be reflected in revenues through customer rates until the closing of the Disposition and is expected to be reflected in the carryover basis of the rate-regulated assets sold, the Seller continued to record depreciation on those assets through the closing of the Disposition.

The unaudited condensed combined pro forma financial statements are based on the historical financial statements prepared in accordance with U.S. generally accepted accounting principles and are presented based on information currently available. They are intended for informational purposes only and are not intended to represent the Seller’s financial position or results of operations had the Disposition and related events occurred on the dates indicated, or to project the Seller’s financial performance for any future period.

The unaudited pro forma consolidated financial statements have been prepared in accordance with Regulation S-X Article 11, Pro Forma Financial Information, as amended by the final rule, Amendments to Financial Disclosures About Acquired and Disposed Businesses, as adopted by the U.S. Securities and Exchange Commission on May 21, 2020, and should be read in conjunction with the following: (i) the accompanying notes to the unaudited pro forma condensed combined financial information; (ii) the audited consolidated financial statements and accompanying notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020; and (iii) the unaudited consolidated financial statements and accompanying notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s Quarterly Report on Form 10-Q for the nine months ended September 30, 2021.

 

1

CENTERPOINT ENERGY RESOURCES CORP. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET

September 30, 2021

 

    

CERC
Historical

     

Transaction
Accounting
Adjustments

            

CERC
Pro Forma

  
     (in millions)  

Current Assets:

            

Cash and cash equivalents

    $ —      $ 2,036        (a)      $ 2,036

Accounts receivable, net

      146      —             146

Accrued unbilled revenues, net

      92      —             92

Accounts and notes receivable–affiliated companies

      15      —             15

Materials and supplies

      78      —             78

Natural gas inventory

      162      —             162

Current taxes receivable

      4      —             4

Current assets held for sale

      1,970      (1,970)      (b)        —    

Prepaid expenses and other current assets

      1,335      —             1,335
  

 

 

     

 

 

        

 

 

  

Total current assets

      3,802      66           3,868
  

 

 

     

 

 

        

 

 

  

Property, Plant and Equipment:

            

Property, plant and equipment

      7,726      —             7,726

Less: accumulated depreciation and amortization

      2,049      —             2,049
  

 

 

     

 

 

        

 

 

  

Property, plant and equipment, net

      5,677      —             5,677
  

 

 

     

 

 

        

 

 

  

Other Assets:

            

Goodwill

      611      —             611

Regulatory assets

      571      —             571

Other non-current assets

      41      —             41
  

 

 

     

 

 

        

 

 

  

Total other assets

      1,223      —             1,223
  

 

 

     

 

 

        

 

 

  

Total Assets

    $ 10,702    $ 66         $ 10,768
  

 

 

     

 

 

        

 

 

  

 

2

CENTERPOINT ENERGY RESOURCES CORP. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET –

September 30, 2021 (continued)

 

    

CERC
Historical

     

Transaction
Accounting
Adjustments

            

CERC
Pro Forma

  
     (in millions)  

Current Liabilities:

            

Short-term borrowings

    $ 7    $ —           $ 7

Accounts payable

      281      —             281

Accounts and notes payable–affiliated companies

      55      —             55

Taxes accrued

      74      423        (c)        497

Interest accrued

      30      —             30

Customer deposits

      65      —             65

Current liabilities held for sale

      512      (512)        (b)        —    

Other current liabilities

      146      —             146
  

 

 

     

 

 

        

 

 

  

Total current liabilities

      1,170      (89)           1,081
  

 

 

     

 

 

        

 

 

  

Other Liabilities:

            

Deferred income taxes, net

      625      (129)        (d)        496

Benefit obligations

      83      —             83

Regulatory liabilities

      1,020      —             1,020

Other non-current liabilities

      564      —             564
  

 

 

     

 

 

        

 

 

  

Total other liabilities

      2,292      (129)           2,163
  

 

 

     

 

 

        

 

 

  

Long-Term Debt

      4,465      —             4,465
  

 

 

     

 

 

        

 

 

  

Stockholder’s Equity:

            

Common stock

      —          —             —    

Additional paid-in capital

      2,046      —             2,046

Retained earnings

      719      284        (e)        1,003

Accumulated other comprehensive income

      10      —             10
  

 

 

     

 

 

        

 

 

  

Total stockholder’s equity

      2,775      284           3,059
  

 

 

     

 

 

        

 

 

  

Total Liabilities and Stockholder’s Equity

    $ 10,702    $ 66         $ 10,768
  

 

 

     

 

 

        

 

 

  

 

3

CENTERPOINT ENERGY RESOURCES CORP. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF INCOME

Nine Months Ended September 30, 2021

 

    

CERC

Historical

    

Transaction
Accounting
Adjustments

          

CERC

Pro Forma

  
     (in millions)  

Revenues:

         

Utility revenues

    $ 2,189   $ (324 )      (f )    $ 1,865

Non-utility revenues

      49     —           49
  

 

 

    

 

 

      

 

 

  

Total

      2,238     (324 )        1,914
  

 

 

    

 

 

      

 

 

  

Expenses:

         

Utility natural gas

      962     (138 )      (f )      824

Non-utility cost of revenues, including natural gas

      16     —           16

Operation and maintenance

      579     (99 )      (f )      480

Depreciation and amortization

      242     (49 )      (f )      193

Taxes other than income taxes

      141     (17 )      (f )      124
  

 

 

    

 

 

      

 

 

  

Total

      1,940     (303 )        1,637
  

 

 

    

 

 

      

 

 

  

Operating Income

      298     (21 )        277

Other Expense:

         

Interest expense and other finance charges

      (73 )      (2 )      (f )      (75 ) 

Interest income

      5     —           5

Gain on disposition

      11     —           11

Other income (expense), net

      (8 )      (1 )      (f )      (9 ) 
  

 

 

    

 

 

      

 

 

  

Total

      (65 )      (3 )        (68 ) 
  

 

 

    

 

 

      

 

 

  

Income From Continuing Operations Before Income Taxes

      233     (24 )        209

Income tax expense (benefit)

      25     (5 )      (j )      20
  

 

 

    

 

 

      

 

 

  

Income From Continuing Operations

    $ 208   $ (19 )      $ 189
  

 

 

    

 

 

      

 

 

  

 

4

CENTERPOINT ENERGY RESOURCES CORP. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF INCOME

Year Ended December 31, 2020

 

    

CERC

Historical

     

Transaction

Accounting

Adjustments

            

CERC

Pro Forma

  
     (in millions)  

Revenues:

            

Utility revenues

    $ 2,711    $ (414)      (f)      $ 2,297

Non-utility revenues

      52      —             52
  

 

 

     

 

 

        

 

 

  

Total

      2,763      (414)           2,349
  

 

 

     

 

 

        

 

 

  

Expenses:

            

Utility natural gas

      1,100      (155)      (f)        945

Non-utility cost of revenues, including natural gas

      17      —             17

Operation and maintenance

      798      (137)      (f)        724
        63      (g)     

Depreciation and amortization

      304        (63)      (f)        241

Taxes other than income taxes

      182        (23)      (f)        159
  

 

 

     

 

 

        

 

 

  

Total

      2,401      (315)           2,086
  

 

 

     

 

 

        

 

 

  

Operating Income

      362      (99)           263
  

 

 

     

 

 

        

 

 

  

Other Expense:

            

Interest expense and other finance charges

      (111)        —             (111)  

Gain on disposition

      —          578      (h)        578

Other expense, net

      (7)        —             (7)  
  

 

 

     

 

 

        

 

 

  

Total

      (118)        578           460
  

 

 

     

 

 

        

 

 

  

Income From Continuing Operations Before Income Taxes

      244      479           723

Income tax expense

      97      294      (i)        366
        (25)      (j)     
  

 

 

     

 

 

        

 

 

  

Income From Continuing Operations

    $ 147    $ 210         $ 357
  

 

 

     

 

 

        

 

 

  

 

5

CENTERPOINT ENERGY RESOURCES CORP.

NOTES TO UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION

 

(1)

Basis of presentation

The unaudited pro forma condensed financial statements are based on the historical consolidated financial statements of the Seller as adjusted to give effect to the Disposition. The unaudited pro forma condensed combined statements of income for the nine months ended September 30, 2021 and the year ended December 31, 2020 give effect to the Disposition as if it were completed on January 1, 2020. The unaudited pro forma condensed combined balance sheet as of September 30, 2021 gives effect to the Disposition as if it were completed on September 30, 2021. The transaction accounting adjustments for the Disposition consist of those necessary to account for the Disposition.

 

(2)

Pro Forma Adjustments

The transaction accounting adjustments for the Disposition are based upon available information and certain assumptions that management believes are reasonable.

 

  a.

Reflects estimated cash proceeds from the Disposition of $2,036 million, representing the gross sales price of $2,150 million less estimated transaction costs of $63 million, contractual adjustments of $29 million and $22 million paid to Buyer to be refunded to customers as part of the Arkansas Public Service Commission Docket 21-060-U.

 

  b.

Reflects the assets and liabilities purchased by the Buyer in the Disposition.

 

  c.

Reflects $423 million of current tax payable due to the recognition of tax gain on the Disposition.

 

  d.

Reflects deferred tax benefit of $129 million due to the Disposition being recognized in earnings by Buyer as a result of the Disposition being treated as an asset sale for tax purposes.

 

  e.

Reflects the adjustments to retained earnings as a result of the Disposition calculated as follows:

 

     (in millions)  

Estimated proceeds of the Disposition, net of transaction costs (1)

    $ 2,036

Assets of the Businesses

      (1,970 ) 

Liabilities of the Businesses

      512
  

 

 

  

Pre-tax gain of the Disposition

      578

Current tax expense as a result of tax gain on the Disposition

      (423 ) 

Recognition of deferred tax benefit due to the Disposition

      129
  

 

 

  

After-tax gain of the Disposition

    $ 284
  

 

 

  

 

  (1)

Reflects the estimated net proceeds received, inclusive of working capital and other customary adjustments, as if the Disposition had closed on September 30, 2021.

 

6

  f.

Reflects the elimination of revenues and expenses representing the historical results of the Business as a result of the Disposition.

 

  g.

Reflects estimated transaction costs of $63 million. These non-recurring costs are included in the 2020 pro forma results of operations.

 

  h.

Reflects the pre-tax gain on the Disposition of $578 million. This non-recurring activity is included in the 2020 pro forma results of operations. See (e) for further information.

 

  i.

Reflects the tax expense of $294 million on the gain on the Disposition, consisting of $423 million current tax payable less $129 million deferred tax benefit as if the Disposition occurred on January 1, 2020. This non-recurring activity is included in the 2020 pro forma results of operations.

 

  j.

Reflects the income tax expense on the transaction accounting adjustments calculated using the statutory income tax rate of 24.8% and 25% for the Seller for the nine months ended September 30, 2021 and the year ended December 31, 2020, respectively. The assumed statutory tax rates do not take into account any possible future tax events that may impact the Seller.

 

7

EX-99.2

Exhibit 99.2

 

LOGO

For Immediate Release

   

For more information, contact

 

Media Relations

Media.Relations@CenterPointEnergy.com

 

Investor Relations

Jackie Richert

Phone: 713.207.6500

CenterPoint Energy completes sale of its Arkansas and Oklahoma

natural gas distribution businesses to Summit Utilities

Houston – January 10, 2022 – CenterPoint Energy, Inc. (NYSE: CNP) today announced that it has successfully completed the previously announced sale of its natural gas distribution utilities in Arkansas and Oklahoma to Summit Utilities, Inc. The assets include approximately 17,000 miles of main pipeline in Arkansas, Oklahoma and Texarkana, serving more than 500,000 residential and business customers.

The transaction received all necessary federal and state regulatory approvals, including from the Arkansas Public Service Commission, Oklahoma Corporation Commission and Federal Energy Regulatory Commission. Summit will immediately assume responsibility for serving CenterPoint Energy’s former customers in Arkansas, Oklahoma and Texarkana.

CenterPoint Energy Executive Vice President, Utility Operations Scott Doyle said, “We want to thank our employees and those of Summit for the successful completion of this transaction. We will be working together for a seamless transition for the benefit of the customers throughout the service territories.”

CenterPoint Energy President and CEO Dave Lesar said “Completing the sale of these natural gas distribution businesses will help us achieve a number of our strategic goals including efficiently funding our long-term capital investment plans across our regulated utility businesses without issuing external equity, driving industry leading rate base growth, and allowing us to focus our efforts on executing our plan across fewer jurisdictions.”

Lesar added, “At our recent Analyst Day, we outlined a pathway towards becoming a premium utility, including an updated five-year capital plan of more than $18 billion, as well as a first-ever 10-year capital plan of more than $40 billion to serve our growing customer base. These investments will be dedicated to safety, reliability, growth and enabling clean energy investments to benefit our customers and investors.”

About CenterPoint Energy, Inc.

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that, after the closing of the Arkansas/Oklahoma transaction, serve nearly 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of September 30, 2021, the company owned approximately $37 billion in assets. With approximately 9,000 total employees after the closing of the Arkansas/Oklahoma transaction, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

LOGO

For Immediate Release

   

For more information, contact

 

Media Relations

Media.Relations@CenterPointEnergy.com

 

Investor Relations

Jackie Richert

Phone: 713.207.6500

 

Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “projection,” “should,” “target,” “will” or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as CenterPoint Energy’s capital investments, rate base growth and its ability to achieve it, financing plans (including future equity issuances), and future financial performance and results of operations and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, CenterPoint Energy’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

###