M2MS-GAS Platts M2MS-Gas provides independent assessments of North America monthly forward gas prices at 79 hubs. Daily 10-year and monthly 20-year curves are derived using a combination of Platts editorial PFC curves, ICE settlement data, and sophisticated quantitative techniques. Monthly price granularity and an open and validated methodology bring greater transparency to forward natural gas markets. Key Features of M2MS-Gas • Published daily, 120-month (10-year) forward curves provide market-based forward prices with monthly granularity • Published monthly, 240-month (20-year) forward curves combine current 120-month daily forward assessments with 20-year annual price projections incorporating market fundamentals • Published daily, 10-year monthly historical volatilities for all locations are based on daily price changes over the last 22 business days • Published monthly, 20-year monthly historical volatilities for all locations are based on monthly price changes over the last 12 months • Liquidity indicators identify the source of individual forward prices Customers Who Subscribe to Both Platts M2MS-Power and Platts M2MS-Gas also Receive • Historical correlations for all power locations versus selected natural gas locations • Heat rates for all power locations versus selected natural gas locations • Spark spreads for all power locations versus selected natural gas locations at varying plant heat rates Optional PFC+ package extends editorially assessed data from 36 months to 120 months and provides monthly granularity for the full tenor of the curves Platts M2MS-Gas (North America) Coverage Guide Platts Offers Curves for 79 Natural Gas Locations in Five Regional Packages PFC+ Package Locations Algonquin City Gate NW Can Border Sumas Chicago City Gate NW WY Pool Rockies Colonial Gas Appalachia Panhandle TX-OK Colonial Gulf Mainline PG&E City Gate Dawn Ontario PG&E Malin Dominion South Point So Cal Gas El Paso Permian TC Alberta AECO-C El Paso San Juan Tenn 500 Leg Florida Gas Zone 3 Transco Zone 3 Henry Hub Transco Zone 4 Houston Ship Channel Transco Zone 6 NY Mich Con City Gate TX Eastern M-3 NGPL TX-OK Waha Northern Demarc Southern Natural LA Northern Ventura Northeast Region Gulf Coast Region Mid-Continent Region Upper Midwest Region Rockies & West Region Algonquin City Gate Agua Dulce Hub Tenn 100 Leg ANR OK ANR ML 7 Cheyenne Colonial Gas Appalachia ANR LA Tenn 500 Leg Centerpoint East Chicago City Gate CIG Rocky Mountains Dominion South Point Col Gulf LA Tenn LA 800 Leg Centerpoint West Cons Energy City Gate El Paso Permian Dracut MA Colonial Gulf Mainline Tenn Zone 0 NGPL Midcon Dawn Ontario El Paso San Juan Iroquois Receipts Florida City Gate Texas Eastern M-1 Northern TX-OK-KS Emerson Empress Iroquois Zone 2 Florida Gas Zone 1 Texas Gas Zone SL Oneok OK Mich Con City Gate Kern River Dlvd Lebanon Hub Ohio Florida Gas Zone 2 Texas Gas Zone 1 Panhandle TX-OK Northern Demarc Kern River Opal Leidy Florida Gas Zone 3 Transco Zone 1 Southern Star TX-OK-KS Northern Ventura NW Can Border Sumas Niagara Henry Hub Transco Zone 2 NW WY Pool Rockies Tenn Zone 6 Delivered Houston Ship Channel Transco Zone 3 PG&E City Gate Transco Zone 5 Delivered Katy Transco Zone 4 PG&E Malin Transco Zone 6 non-NY Lone Star Trunkline E LA PG&E South Transco Zone 6 NY NGPL LA TX Eastern E LA So Cal Gas TX Eastern M-3 NGPL S TX TX Eastern East TX Socal Ehrenberg NGPL TX-OK TX Eastern S TX TC Alberta AECO-C Southern Natural LA TX Eastern West LA Transwestern Permian Waha