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  "documentTitle": "NW Natural Holdings | Fixed Income Presentation Deck | 42 slides",
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      "kind": "diagram",
      "text": "Stable Utility Margins\nEfficient Cost Structure\nLow-Risk Growth\nBUSINESS STRATEGY",
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      "text": "Stable and growing utility margins driven by the following targets over the next five years including:\n• Gas utility customer growth averaging 1.1%\n• Gas utility cap-ex $1.3 – $1.5 billion with rate base growth of 5% - 7%1\nExcellent operations and efficient cost structure\n• Commitment to safety, reliability, and high-quality service\n• Continued focus on efficient business operations\nLong-term growth opportunities\n• Strong cap-ex profile with attractive service territory\n• Focused on decarbonizing energy through investment and procurement of renewable natural gas for the utility",
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      "text": "1 Rate base growth forecasted for period 2022 - 2027",
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      "text": "INVESTMENT THESIS",
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