NW Natural Water Continues Growth in Washington with Two More Acquisitions

NW Natural Water Company, LLC (NW Natural Water), a wholly-owned subsidiary of Northwest Natural Holding Company (NYSE:NWN) (NW Natural Holdings), recently signed two agreements to acquire Northwest Water Services and Aquarius Utilities, collectively serving approximately 1,400 connections in Washington near its existing Cascadia Water utilities.

“Since our initial investments in 2018, we’ve consistently expanded Cascadia Water’s footprint, improved its systems, and significantly enhanced the overall service to customers,” said Justin Palfreyman, NW Natural Water’s president. “We’re excited to continue our expansion in the Puget Sound region and look forward to welcoming these new customers and continuing to deliver clean, safe and reliable service.”

The acquisitions are subject to customary closing conditions, including approval by the Washington Utilities and Transportation Commission, and are expected to close in 2022. When all pending acquisitions close, NW Natural Water will serve nearly 150,000 people through approximately 61,000 connections across five states.

About NW Natural Holdings

Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon and has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), NW Natural Renewables Holdings (NW Natural Renewables), and other business interests. We have a longstanding commitment to safety, environmental stewardship and the energy transition, and taking care of our employees and communities. Learn more in our latest ESG Report.

NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 785,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 21 Bcf of underground gas storage capacity in Oregon.

NW Natural Water currently provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. Learn more about our water business at nwnaturalwater.com.

Additional information is available at nwnaturalholdings.com.

Forward-Looking Statements

This report, and other presentations made by NW Natural Holdings from time to time, may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," “will,” and similar references to future periods. Examples of forward-looking statements include, but are not limited to, statements regarding the following: plans, objectives, goals, strategies, assumptions, estimates, expectations, expenses, future events, investments, growth and development, financial strength, resources, expertise, the water utility strategy and the related pending water acquisitions, the likelihood, timing, and success associated with any transaction or conditions related thereto, financial results, strategic fit, revenues and earnings, performance, water service and delivery, safety, environmental stewardship, the energy transition, and other statements that are other than statements of historical facts.