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Fiscal 2025 Fourth Quarter and Year End Financial Results November 2025 Investor Presentation
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2 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. NJR cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond NJR’s ability to control or estimate precisely, such as expectations regarding future market conditions and the behavior of other market participants. Words such as “anticipates,” “estimates,” “expects,” “projects,” “may,” “will,” “intends,” “plans,” “believes,” “should” and similar expressions may identify forward-looking statements and such forward-looking statements are made based upon management’s current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect upon NJR. There can be no assurance that future developments will be in accordance with management’s expectations, assumptions and beliefs or that the effect of future developments on NJR will be those anticipated by management. Forward-looking statements in this earnings presentation include, but are not limited to, statements regarding NJR’s NFEPS guidance for fiscal 2026, including NFEPS guidance by Segment, long-term growth targets and guidance range and anticipated drivers of such growth targets, long-term annual growth projections and targets, our CIP, IIP and SAVEGREEN programs, NFEPS expectations from utility operations, Capital Plan expectations, the inclusion of our 5-year capital expenditure projections through 2030, our credit metrics, projections of dividend and financing activities, customer growth at NJNG, future NJR and NJNG capital expenditures, potential CEV capital projects, project pipeline, changes to tax laws and regulations, including those changes brought about by the passage of the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act, total shareholder return projections, dividend growth, CEV revenue and service projections, our debt repayment schedule, contributions from Leaf River as well as its potential cavern expansion, Steckman Ridge and Adelphia Gateway, SREC Hedging and long option strategies and Asset Management Agreements, our Energy Efficiency Expansion as approved by the BPU, our current and future base rate cases, our solar project pipeline and commercial solar growth goals, emissions reduction strategies and clean energy goals, changing interest rates, and other legal and regulatory expectations, and statements that include other projections, predictions, expectations or beliefs about future events or results or otherwise are not statements of historical fact. Additional information and factors that could cause actual results to differ materially from NJR’s expectations are contained in NJR’s filings with the SEC, including NJR’s Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings, which are available at the SEC’s web site, http://www.sec.gov. Information included in this presentation is representative as of today only and while NJR periodically reassesses material trends and uncertainties affecting NJR's results of operations and financial condition in connection with its preparation of management's discussion and analysis of results of operations and financial condition contained in its Quarterly and Annual Reports filed with the SEC, NJR does not, by including this statement, assume any obligation to review or revise any particular forward-looking statement referenced herein in light of new information future events or otherwise, except as required by law. Non-GAAP Measures This presentation includes the non-GAAP financial measures NFE/net financial loss, NFE per basic share, financial margin, utility gross margin, adjusted funds from operations and adjusted debt. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found in the appendix to this presentation. As an indicator of NJR’s operating performance, these measures should not be considered an alternative to, or more meaningful than, net income or operating revenues as determined in accordance with GAAP. This information has been provided pursuant to the requirements of SEC Regulation G. NFE and financial margin exclude unrealized gains or losses on derivative instruments related to NJR’s unregulated subsidiaries and certain realized gains and losses on derivative instruments related to natural gas that has been placed into storage at Energy Services, net of applicable tax adjustments as described below. Financial margin also differs from gross margin as defined on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization [expenses] as well as the effects of derivatives as discussed above. Volatility associated with the change in value of these financial instruments and physical commodity reported on the income statement in the current period. In order to manage its business, NJR views its results without the impacts of the unrealized gains and losses, and certain realized gains and losses, caused by changes in value of these financial instruments and physical commodity contracts prior to the completion of the planned transaction because it shows changes in value currently instead of when the planned transaction ultimately is settled. An annual estimated effective tax rate is calculated for NFE purposes and any necessary quarterly tax adjustment is applied to NJR Energy Services Company. NJNG’s utility gross margin is defined as operating revenues less natural gas purchases, sales tax, and regulatory rider expense. This measure differs from gross margin as presented on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization. Utility gross margin may also not be comparable to the definition of gross margin used by others in the natural gas distribution business and other industries. Management believes that utility gross margin provides a meaningful basis for evaluating utility operations since natural gas costs, sales tax and regulatory rider expenses are included in operating revenues and passed through to customers and, therefore, have no effect on utility gross margin. Adjusted funds from operations is cash flows from operating activities, plus components of working capital, cash paid for interest (net of amounts capitalized), capitalized interest, the incremental change in SAVEGREEN loans, grants, rebates, and related investments, and operating lease expense. Adjusted debt is total long-term and short-term debt, net of cash and cash equivalents, excluding solar asset financing obligations but including solar contractually committed payments for sale lease-backs, debt issuance costs, and other Fitch credit metric adjustments. Adjusted EBITDA is earnings, including equity in earnings of affiliates, before interest, income taxes, depreciation and amortization, and Other Income, net, which includes non-cash earnings of AFUDC from our wholly owned subsidiaries Leaf River and Adelphia Gateway. Management uses NFE/net financial loss, utility gross margin, financial margin, adjusted funds from operations and adjusted debt as supplemental measures to other GAAP results to provide a more complete understanding of the Company’s performance. Management believes these non-GAAP measures are more reflective of the Company’s business model, provide transparency to investors and enable period-to-period comparability of financial performance. In providing NFE guidance, management is aware that there could be differences between reported GAAP earnings and NFE/net financial loss due to matters such as, but not limited to, the positions of our energy-related derivatives. Management is not able to reasonably estimate the aggregate impact or significance of these items on reported earnings and therefore is not able to provide a reconciliation to the corresponding GAAP equivalent for its operating earnings guidance without unreasonable efforts. In addition, in making forecasts relating to S&T’s Adjusted EBITDA and adjusted funds from operations and adjusted debt, management is aware that there could be differences between reported GAAP earnings, cash flows from operations and total long-term and short-term debt due to matters such as, but not limited to, the unpredictability and variability of future earnings, working capital and cash positions. Management is not able to reasonably estimate the aggregate impact or significance of these items on reported GAAP measures and therefore is not able to provide a reconciliation to the corresponding GAAP equivalent for such forecasts without unreasonable efforts. NFE/net financial loss, utility gross margin and financial margin are discussed more fully in Item 7 of our Report on Form 10-K and, we have provided presentations of the most directly comparable GAAP financial measure and a reconciliation of our non-GAAP financial measures, NFE/net financial loss, utility gross margin, financial margin, adjusted funds from operations and adjusted debt, to the most directly comparable GAAP financial measures, in the appendix to this presentation. This information has been provided pursuant to the requirements of SEC Regulation G.
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3 Contents Fiscal 2025 Fourth Quarter and Year End Conference Call 4 Agenda 5 Key Considerations 6 Business Unit Drivers 7 NJNG: Growing Rate Base 8 S&T: Driving Near Term NFE Growth 9 S&T: Leaf River Growth Opportunities 10 CEV: Project Pipeline 11 Financial Review and Outlook 12 Fiscal 2025: Accomplishments 13 Fiscal 2025: Financial Performance 14 Fiscal 2025: Capital Investment (CAPEX) 15 Fiscal 2025: NJNG: Represented 64% of NJR Total CAPEX 16 Fiscal 2025: CEV: Represented 32% of NJR Total CAPEX 17 Capital Investment (CAPEX) Outlook 18 Strong Financial Metrics 19 Fiscal 2026: NFEPS Guidance and Segment % 20 Closing 21 NJR: Diversified Platform Drives Shareholder Value 22 7-9% Long Term NFEPS Growth Rate 23 Appendix: Financial Statements and Additional Information 24 Fiscal 2025 Fourth Quarter and Year End NFE and NFEPS by Business Unit 25 Fiscal 2025 Fourth Quarter and Year End Results - Walk 26 Reconciliation of NFE and NFEPS to Net Income 27 Other Reconciliation of Non-GAAP Measures 28 Reconciliation of Adjusted Funds from Operations to Cash Flow from Operations 29 Capital Plan Table 30 Cash Flows Table 31 Debt Repayment Schedule 32 NJR: Complementary Energy Infrastructure Platform 33 NJR: Business Portfolio 34 NJR: Dividend Growth: Raised for 30 Consecutive Years 35 NJR: Drivers of Long-Term Growth Rate of 7-9% 36 NJNG: Regulatory Environment 37 NJNG: Customer Growth 38 NJNG: Commitment to Affordability 39 S&T: Strategically Located Assets 40 S&T: Adelphia Gateway 41 S&T: Adjusted EBITDA 42 CEV: Diverse Commercial Solar Portfolio 43 CEV: “Utility Like” Revenue Stack with Optionality 44 CEV: SREC Hedging Strategy Stabilizes Revenue 45 Energy Services: Overview 46 Energy Services: Long-Option Strategy 47 Energy Services: Asset Management Agreements 48 Home Services (NJRHS) 49 Shareholder and Online Information
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4 Strategic Review Steve Westhoven, President and CEO Financial Highlights and Outlook Roberto Bel | SVP and CFO Conclusion Steve Westhoven, President and CEO Q&A Session Agenda NJR At a Glance Corporate Information Ticker NYSE: NJR Corporate Headquarters Wall, NJ Incorporated New Jersey Website www.njresources.com IPO 1982 NJR Business Units (abbreviation) New Jersey Natural Gas NJNG Clean Energy Ventures CEV Storage & Transportation S&T Energy Services NJRES Home Services NJRHS Share Information Share Price $46.62 Shares Outstanding 100.5M Market Cap $4.7B Dividend Information Annual Dividend $1.90 Dividend Yield 4.1% • All daily trading information/multiples as of 11/14/2025
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5 Key Considerations 1. A reconciliation from NFE to net income and Adjusted FFO / Adjusted Debt can be found in the Appendix. 5 Years of Exceeding Initial Guidance 7-9% Long-Term NFEPS Growth Rate CAPEX of $4.8 - $5.2 Billion Through FY 2030 Over 60% in Utility Investment No Block Equity 19% - 20% Adjusted FFO / Adjusted Debt Through 20301 Peer Leading GrowthOrganic Capital Investment Strong Financial Metrics Fiscal 2026 NFEPS1 Guidance Range of $3.03 - $3.18 Execution
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6 Business Unit Drivers NJNG High single digit rate base growth expected through 2030 CEV Installed capacity expected to grow over 50% by 2027 S&T NFE expected to more than double by 2027
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7 NJNG Rate Base $1.4 $1.8 $2.5 $3.2 2016 2019 2021 2024 2030 $0.0 $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 NJNG: Future Rate Base Growth Expected in the 7-9% Range Expanding Rate Base Growth Through 2030 • History of Consistent Rate Case Outcomes • Additional Investments from Energy Efficiency Investments (SAVEGREEN) are Incremental to Current Rate Base Figure Last Four Rate Cases $4.7 - $5.2B ($ in B) R ate Base CAGR of ~7 - 9% Reported Record $98 Million of Investment in Fiscal 2025
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8 $19 NFE Fiscal 2025 Fiscal 2027 Fiscal 2030 S&T: Driving Near Term NFE Growth Constructive Outcome in Adelphia Gateway Rate Case; Highly Favorable Re-Contracting at both Adelphia and Leaf River S&T NFE Expected to More Than Double by 2027 Estimated $42 - $47 Future Expansion Opportunities
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9 Available Working Gas Capacity (BCF) 32 37.6 42.7 55.2 At Acquisition / Current 2026 2028 2030+ 25 30 35 40 45 50 55 60 S&T: Leaf River Growth Opportunities Expansion Plans To Increase Working Gas Capacity Leaf River Expansion Expansion of Existing Cavern Locations Planned New Cavern Leaf River has Multiple Sites for Organic Cavern Expansion Beyond this 55 BCF S&T Earnings to Double Prior to New Expansions FERC Filing October 31, 2025 Expects to increase working gas capacity by over 70% in the coming years
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10 386 479 479 479 1,161 9/30/2024 9/30/2025 9/30/2027 Project Pipeline of Solar Investment Opportunities 0 250 500 750 1000 1250 1500 1750 CEV: Project Pipeline CEV Owns and Operates Solar Projects with Approximately 479MW of In-Service Commercial Solar Capacity MWs Record ~93MW Placed In-Service in Fiscal 2025 1.2 GW Diverse pipeline – preserved ITC through proactive safe harboring Capacity expected to grow over 50% by 2027 • All MWs noted in DC ~250
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1111 Financial Review
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12 Fiscal 2025: Accomplishments Solid Execution Across NJR's Complementary Portfolio of Businesses New Jersey Natural Gas Settlement of Base Rate Case, with new rates in place on November 21, 2024 Record Investment Under SAVEGREEN® Energy Efficiency Program Clean Energy Ventures Record ~93MW Placed into Service in FY2025 Completed sale of residential solar portfolio Storage and Transportation Adelphia: Received approval of settlement for its Section 4 rate case Leaf River: Storage Capacity Increased; Expansion Initiatives filed with FERC Energy Services Strong Cash Flow Generation Fiscal 2025 NFEPS $3.29 (up 11.5% compared to prior year) NJR: Raised Dividend for 30th Consecutive Year Home Services Named a Ruud Top 20 Pro Partner for the 9th Consecutive Year
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13 Initial Guidance Outperformance FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 $— $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 Fiscal 2025: Financial Performance Net Financial Earnings per Share $3.29 $2.95 Raised NFEPS Guidance by $0.10 Finished at the Top of Revised Range $2.16 Utility Represented ~65% of NFEPS (over 70% excluding the gain from the sale of the Residential Solar Portfolio) NJNG 64.8% CEV 18.5% S&T 5.5% NJRES 10.6% NJRHS 0.6% $2.50 $2.70
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14 $454 $503 $548 $110 $96 $271 $31 $46 $30 NJNG CEV S&T FY2023A FY2024A FY2025A $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 Fiscal 2025: Capital Investment1 (CAPEX) NJNG: Strong capital deployment supported by "Near Real Time" returns CEV: Well positioned with safe-harbored projects to support long-term capital plans S&T: Initiated capacity expansion of existing caverns $596M $644M $850M 1. The sum of actual amounts may not equal due to rounding.
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15 NJNG New Customer 14% NJNG IIP 5% NJNG SAVEGREEN 12% NJNG Safety and Reliability 34% Fiscal 2025: NJNG: Represented 64% of NJR Total CAPEX Stable Utility Investment with Minimal Regulatory Lag NJR Fiscal 2025 Capital Expenditures1 (% of NJR CAPEX) ~47% of NJNG Capital Expenditures Earned a Near Real-time Return2 Record SAVEGREEN Investment in Fiscal 2025 ~$850M CEV + S&T ( $548M NJNG) 1. The sum of actual amounts may not equal due to rounding. 2. The sum of Fiscal 2025 New Customer, IIP, and SAVEGREEN CAPEX was $257 million, or 47% of NJNG's $548 million.
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16 CEV 32% ~$850M Fiscal 2025: CEV Represented 32% of NJR Total CAPEX NJR Fiscal 2025 Capital Expenditures (% of NJR CAPEX) $271M Capital Expenditures Above Top End of the Previously Announced Range CEV has safe-harbored all of its planned capital investments NJNG + S&T ( $271M CEV)
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17 $503 $548 $96 $271 $46 $30 NJNG CEV S&T FY2024A FY2025A FY2026E FY2027E $0 $200 $400 $600 $800 $1,000 $1,200 Capital Investment1 (CAPEX) Outlook $775 - $930 Actuals Estimates $4.8 - $5.2B Through 2030 $870 - $1.0B NJNG (utility spending) to Represent Over 60% of Capital Investment $45 - $60 $60 - $75 $210 - $290 $270 -$370 $520 - $580 $540 -$600 $850M $644M ($ in Millions) ~40% Increase Over Previous 5 Years of CAPEX 1. The sum of actual amounts may not equal due to rounding.
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18 17.4% 18.1% 19.0% 20.6% 21.2% FY2021A FY2022A FY2023A FY2024A FY2025A FY2026E FY2030E 5.0% 10.0% 15.0% 20.0% ▪ No Block Equity Needs ▪ Cash Flow from Operations of $466 million in Fiscal 2025 ▪ Over $1 billion expected in the next two years ▪ Staggered Debt Maturity Stack ▪ Substantial liquidity at both NJNG and NJR ▪ $825M of credit facilities available through FY2029 Strong Credit Metrics Adjusted FFO / Adjusted Debt NJNG (Secured Rating) NJR (Unsecured Rating) NAIC NAIC-1.E NAIC-2.A Moody's A1 (Stable) Fitch A+ (Stable) Internal estimates based on Fitch Ratings methodology. Ratio represents inverse of FFO-adjusted leverage ratio. A reconciliation from adjusted funds from operations to cash flows from operating activities and adjusted debt to long-term and short-term debt can be found in the Appendix. Adjusted funds from operations is cash flows from operating activities, plus components of working capital, cash paid for interest (net of amounts capitalized), capitalized interest, the incremental change in SAVEGREEN loans, grants, rebates, and related investments, and operating lease expense. Adjusted debt is total long-term and short-term debt, net of cash and cash equivalents, excluding solar asset financing obligations but including solar contractually committed payments for sale lease-backs, debt issuance costs, and other Fitch credit metric adjustments. Actuals Estimated 19 - 20%
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19 Earnings Base* Fiscal 2026 Guidance 2.00 2.20 2.40 2.60 2.80 3.00 3.20 Fiscal 2026: NFEPS Guidance and Segment % Fiscal 2026 Net Financial Earnings per Share 7-9% Long-Term Annual Growth $3.03 - $3.18 Fiscal 2026 Utility To Represent ~70% of Earnings Contribution NJNG 67 - 72% S&T 8-12% CEV 10-15% ES 5-10% HS 1-2% $2.83 * Our current earnings base represents the midpoint of initial Fiscal 2025 NFEPS guidance, excluding the net impact of the sale of our residential solar assets.
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2020 Closing
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21 PCG FE AES TXNM AGR CMS NI AWK DUK ES CNP POR AVA SWX EVRG XEL OGS EIX NWN AEE CWT NWE PNW NFG AEP SJW HE ALE BKH MSEX ED IDA SR ATO ETR LNT DTE OTTR CPK WTRG AWR D MGEE WEC OGE ENB SO PPL EXC PEG SRE NEE UGI NJR 0 2 4 6 8 10 12 14 16 NJR: Diversified Platform Drives Shareholder Value NJR’s ROE is Among the Highest in the Utility Sector NJR FISCAL 2025 ROE: 14.0% NJR leverages strong cash flows and a solid balance sheet— allowing us to fund growth without block equity issuance, preserving shareholder value NJR 14.8%Average Annual Return on Equity (ROE) Last 25 Years Source: Bloomberg. Average Annual ROE (Net Income / Shareholders Equity) from 2000 – 2024. 2025: Net Income / Common Stock Equity
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22 7-9% Long-Term NFEPS Growth Rate 5 Straight Years of Exceeding Initial Guidance Total CAPEX of $4.8 - $5.2 Billion Through FY 2030 Over 60% in Utility Investment No Block Equity Consistent Execution Organic Capital Investment Equity Needs NJNG High single digit rate base growth expected through 2030 CEV Installed capacity expected to grow over 50% by 2027 S&T NFE expected to more than double by 2027 Leaf River capacity to grow by over 70% through 2030
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Appendix: Financial Statements and Additional Information 23 24 Fiscal 2025 Fourth Quarter and Year End NFE and NFEPS by Business Unit 25 Fiscal 2025 Fourth Quarter and Year End Results - Walk 26 Reconciliation of NFE and NFEPS to Net Income 27 Other Reconciliation of Non-GAAP Measures 28 Reconciliation of Adjusted Funds from Operations to Cash Flow from Operations 29 Capital Plan Table - Two Year Detailed 30 Cash Flows - Two Year Projected 31 Debt Repayment Schedule
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24 Fiscal 2025 Fourth Quarter and Year End NFE and NFEPS by Business Unit1 ($ in 000s) Net Financial Earnings (NFE) Net Financial Earnings per Share (NFEPS) 1. (Thousands) Three Months Ended September 30, Twelve Months Ended September 30, 2025 2024 Change 2025 2024 Change New Jersey Natural Gas $(7,977) $(19,000) $11,023 $213,541 $133,400 $80,141 Clean Energy Ventures $23,841 $35,470 $(11,629) $61,156 $33,662 $27,494 Storage and Transportation $4,636 $2,468 $2,168 $18,541 $12,229 $6,312 Energy Services $(4,532) $68,284 $(72,816) $34,868 $111,515 $(76,647) Home Services and Other $261 $1,485 $(1,224) $1,511 $22 $1,489 Total $16,229 $88,707 $(72,478) $329,617 $290,828 $38,789 (Thousands) Three Months Ended September 30, Twelve Months Ended September 30, 2025 2024 Change 2025 2024 Change New Jersey Natural Gas $(0.08) $(0.20) $0.12 $2.13 $1.35 $0.78 Clean Energy Ventures $0.23 $0.36 $(0.13) $0.61 $0.35 $0.26 Storage and Transportation $0.04 $0.02 $0.02 $0.18 $0.12 $0.06 Energy Services $(0.04) $0.69 $(0.73) $0.35 $1.13 $(0.78) Home Services and Other $0.01 $0.02 $(0.01) $0.02 $— $0.02 Total $0.16 $0.89 $(0.73) $3.29 $2.95 $0.34 1 The sum of actual amounts may not equal due to rounding.
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251. A reconciliation of these non-GAAP measures can be found in the Appendix. 2. The sum of actual amounts may not equal to total due to rounding. Fiscal 2025 Fourth Quarter and Year End Results1 - Walk ($ in Millions) Fiscal Fourth Quarter Fiscal Year $88.7 $11.0 $(11.6) $2.2 $(72.8) $(1.2) $16.2 4Q 2024 NJNG CEV S&T ES HS & Other 4Q 2025 $290.8 $80.1 $27.5 $6.3 $(76.6) $1.5 $329.6 YTD 2024 NJNG CEV S&T ES HS & Other YTD 2025 Fiscal 2024 – Consolidated NFE ($ in millions) $ 290.8 NJNG $ 80.1 Utility Gross Margin1 $ 141.6 Depreciation & Amortization (D&A) $ (27.9) Interest Expense, O&M, AFUDC and Income Tax $ (33.6) Clean Energy Ventures $ 27.5 Revenue $ (18.1) D&A and Interest Expense $ 5.6 Gain on Sale of Assets $ 56.2 Other (including ITC recognition) $ (16.2) Storage & Transportation $ 6.3 Revenue $ 10.2 D&A and Interest Expense $ 2.2 AFUDC & Other $ (6.1) Energy Services $ (76.6) Financial Margin1 $ (112.6) Interest Expense, Income Tax and Other $ 36.0 Home Services and Other $ 1.5 Fiscal 2025 – Consolidated NFE ($ in millions)2 $ 329.6 Fiscal 4Q24 – Consolidated NFE ($ in millions) $ 88.7 NJNG $ 11.0 Utility Gross Margin1 $ 23.5 Depreciation & Amortization (D&A) $ (7.0) Interest Expense, O&M, AFUDC, Income Tax $ (5.5) Clean Energy Ventures $ (11.6) Revenue $ (5.2) D&A and Interest Expense $ (0.2) Gain on Sale of Assets $ 0.1 Other (including ITC recognition) $ (6.3) Storage & Transportation $ 2.2 Revenue $ 2.5 D&A and Interest Expense $ 1.3 O&M, AFUDC & Other $ (1.6) Energy Services $ (72.8) Financial Margin1 $ (97.9) Interest Expense, Income Tax and Other $ 25.1 Home Services and Other $ (1.2) Fiscal 4Q25 – Consolidated NFE ($ in millions)2 $ 16.2 The decrease reflects higher prior-year operating revenue at Energy Services from Asset Management Agreements signed in December 2020.
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26 Reconciliation of NFE and NFEPS to Net Income ($ in 000s) • NFE is a measure of earnings based on the elimination of timing differences to effectively match the earnings effects of the economic hedges with the physical sale of natural gas, Solar Renewable Energy Certificates (SRECs) and foreign currency contracts. Consequently, to reconcile net income and NFE, current-period unrealized gains and losses on the derivatives are excluded from NFE as a reconciling item. Realized derivative gains and losses are also included in current-period net income. However, NFE includes only realized gains and losses related to natural gas sold out of inventory, effectively matching the full earnings effects of the derivatives with realized margins on physical natural gas flows. NFE also excludes certain transactions associated with equity method investments, including impairment charges, which are non-cash charges, and return of capital in excess of the carrying value of our investment. These are not indicative of the Company's performance for its ongoing operations. Included in the tax effects are current and deferred income tax expense corresponding with the components of NFE. • NFE eliminates the impact of volatility to GAAP earnings associated with unrealized gains and losses on derivative instruments in the current period. (Unaudited) Three Months Ended September 30, Twelve Months Ended September 30, 2025 2024 2025 2024 NEW JERSEY RESOURCES A reconciliation of net income, the closest GAAP financial measure, to net financial earnings is as follows: Net income $ 15,072 $ 91,126 $ 335,627 $ 289,775 Add: Unrealized (loss) gain on derivative instruments and related transactions (2,054) (4,286) (12,126) 19,574 Tax effect 488 1,018 2,882 (4,652) Effects of economic hedging related to natural gas inventory 3,495 1,266 4,242 (18,192) Tax effect (830) (301) (1,008) 4,323 NFE tax adjustment 58 (116) — — Net financial earnings $ 16,229 $ 88,707 $ 329,617 $ 290,828 Weighted Average Shares Outstanding Basic 100,458 99,308 100,244 98,634 Diluted 101,024 99,964 100,788 99,289 A reconciliation of basic earnings per share, the closest GAAP financial measure, to basic net financial earnings per share is as follows: Basic earnings per share $ 0.15 $ 0.92 $ 3.35 $ 2.94 Add: Unrealized (gain) loss on derivative instruments and related transactions (0.02) (0.04) (0.12) 0.20 Tax effect 0.01 — 0.03 (0.05) Effects of economic hedging related to natural gas inventory 0.03 0.01 0.04 (0.18) Tax effect (0.01) — (0.01) 0.04 Basic net financial earnings per share $ 0.16 $ 0.89 $ 3.29 $ 2.95
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27 Other Reconciliation of Non-GAAP Measures NJNG Utility Gross Margin • NJNG's utility gross margin is defined as operating revenues less natural gas purchases, sales tax, and regulatory rider expenses. This measure differs from gross margin as presented on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization. Energy Services Financial Margin • Financial margin removes the timing differences associated with certain derivative and hedging transactions. Financial margin differs from gross margin as defined on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization expenses as well as the effects of derivatives instruments on earnings. ($ in 000s) (Unaudited) Three Months Ended Twelve Months Ended September 30, September 30, 2025 2024 2025 2024 A reconciliation of gross margin, the closest GAAP financial measurement, to utility gross margin is as follows: Operating revenues $ 145,178 $ 105,091 $ 1,302,617 $ 1,019,832 Less: Natural gas purchases 48,748 33,817 528,992 414,635 Operating and maintenance1 29,938 22,935 120,175 113,984 Regulatory rider expense 5,243 3,566 87,199 60,327 Depreciation and amortization 36,584 29,620 140,368 112,492 Gross margin 24,665 15,153 425,883 318,394 Add: Operating and maintenance1 29,938 22,935 120,175 113,984 Depreciation and amortization 36,584 29,620 140,368 112,492 Utility gross margin $ 91,187 $ 67,708 $ 686,426 $ 544,870 A reconciliation of gross margin, the closest GAAP financial measurement, to financial margin is as follows: Operating revenues $ 81,909 $ 178,420 $ 453,457 $ 485,391 Less: Natural Gas purchases 84,935 79,097 372,431 305,938 Operating and maintenance1 1,478 1,583 14,959 23,189 Depreciation and amortization 48 47 187 205 Gross margin (4,552) 97,693 65,880 156,059 Add: Operating and maintenance1 1,478 1,583 14,959 23,189 Depreciation and amortization 48 47 187 205 Unrealized (gain) loss on derivative instruments and related transactions (2,054) (4,287) (12,126) 24,449 Effects of economic hedging related to natural gas inventory 3,495 1,266 4,242 (18,192) Financial margin $ (1,585) $ 96,302 $ 73,142 $ 185,710 1. Excludes selling, general and administrative expenses
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28 Reconciliation of Adjusted Funds from Operations to Cash Flow from Operations • Adjusted funds from operations is cash flows from operating activities, plus components of working capital, cash paid for interest (net of amounts capitalized), capitalized interest, the incremental change in SAVEGREEN loans, grants, rebates, and related investments, and other Fitch credit metric adjustments. • Adjusted debt is total long-term and short-term debt, net of cash and cash equivalents, excluding capitalized leases, solar asset financing obligations but including solar contractually committed payments for sale lease backs, debt issuance costs. Cash Flow from Operations $466.3 Add back Components of working capital $24.6 Cash paid for interest (net of amounts capitalized) $130.3 Capitalized Interest $11.5 SAVEGREEN loans, grants, rebates and related investments $98.0 Other adjustments ($2.3) Adjusted FFO (Non-GAAP) $728.4 Long-Term Debt (including current maturities) $3,408.6 Short-Term Debt $195.6 Exclude Cash on Hand ($1.6) CEV Sale-Leaseback Debt ($471.5) Lease adjusted debt ($15.9) Include CEV Sale lease-back Contractual Commitments $312.4 Debt Issuance Costs $14.2 Adjusted Debt (Non-GAAP) $3,441.8 Adjusted Debt, FY2025 (Millions) Adjusted Funds from Operations, FY2025 (Millions)
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29 Capital Plan Table1,2 ($ in Millions) 1. Total change in PP&E (cash spent, CAPEX accrued and AFUDC). For GAAP purposes, SAVEGREEN investments are included as part of cash flows from operations. 2. The sum of actual amounts may not equal due to rounding. 3. Safety and reliability includes system integrity, IT, Cost of Removal, and other miscellaneous capital investments. Actuals Estimates FY2024A FY2025A FY2026E FY2027E Near Real Time Return? New Jersey Natural Gas New Customer $100 $119 $120 - $130 $130 - $140 Yes IIP $42 $40 $10 - $15 $— - $— Yes SAVEGREEN $71 $98 $90 - $100 $90 - $100 Yes Safety and Reliability3 $290 $291 $300 - $335 $320 - $360 $503 $548 $520 - $580 $540 - $600 Clean Energy Ventures $96 $271 $210 - $290 $270 - $370 Storage and Transportation Adelphia Gateway $7 $11 $5 - $10 $5 - $10 Leaf River $39 $19 $40 - $50 $55 - $65 $46 $30 $45 - $60 $60 - $75 Total $644 $850 $775 - $930 $870 - $1,045
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30 1. The sum of actual amounts may not equal due to rounding. 2. Excludes accrual for AFUDC and SAVEGREEN investments (for GAAP purposes, SAVEGREEN investments are included in Cash Flow from Operations). 3. Cash Flows Used in Investing Activities in fiscal 2025 include $137.2 million in net proceeds from the sale of the residential solar portfolio. Cash Flows Table1 ($ in Millions) Actuals Estimates Operating cash flows are primarily affected by variations in working capital, which can be impacted by several factors, including: • seasonality of our business; • fluctuations in wholesale natural gas prices and other energy prices, including changes in derivative asset and liability values; • timing of storage injections and withdrawals; • the deferral and recovery of natural gas costs; • changes in contractual assets utilized to optimize margins related to natural gas transactions; • broker margin requirements; • impact of unusual weather patterns on our wholesale business; • timing of the collections of receivables and payments of current liabilities; • volumes of natural gas purchased and sold; and • and timing of SREC deliveries. FY 2024A FY 2025A FY 2026E FY 2027E Cash Flows from Operations $427 $466 $510 - $550 $540 - $580 Uses of Funds Cash Flows Used in Investing Activities2, 3 $569 $568 $700 - $800 $800 - $900 Dividends $165 $180 $188 - $192 $192 - $196 Total Uses of Funds $734 $748 $888 - $992 $992 - $1,096 Financing Activities Common Stock Proceeds – DRIP $74 $35 $18 - $20 $18 - $20 Debt Proceeds/ (Repayments)/Other $232 $247 $360 - $422 $434 - $496 Total Financing Activities $307 $282 $378 - $442 $452 - $516
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31 Debt Repayment Schedule No Significant Maturity Towers in Any Particular Year 1 . Term debt only (excludes short-term debt of $195.6 million, capital leases of $33.5 million and solar financing obligations of $471.5 million). $100 $110 $100 $150 $130 $120 $130 $130 $50 $100 $50 $50 $75 $100 $117 NJR NJNG FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036- 2041 Thereafter $— $50 $100 $150 $200 N JR Unsecured Senior Notes FY Maturity Principal 3 .54% 2 026 $100,000 4 .38% 2 027 $110,000 3 .96% 2 028 $100,000 3 .29% 2 029 $150,000 3 .50% 2 030 $130,000 3 .13% 2 031 $120,000 3 .60% 2 032 $130,000 3 .25% 2 033 $80,000 6 .14% 2 033 $50,000 3 .64% 2 034 $50,000 5 .55% 2 035 $100,000 T otal NJR LT Debt $1,120,000 N JNG First Mortgage Bonds F Y Maturity P rincipal 3 .15% 2 028 $50,000 5 .56% 2 033 $50,000 5 .49% 2 034 $75,000 5 .16% 2 035 $100,000 4 .37% 2 037 $50,000 3 .38% 2 038 $10,500 2 .75% 2 039 $9,545 3 .00% 2 041 $46,500 3 .50% 2 042 $10,300 3 .00% 2 043 $41,000 4 .61% 2 044 $55,000 3 .66% 2 045 $100,000 3 .63% 2 046 $125,000 4 .01% 2 048 $125,000 3 .76% 2 049 $100,000 3 .13% 2 050 $50,000 3 .13% 2 050 $50,000 2 .87% 2 050 $25,000 2 .97% 2 052 $50,000 4 .71% 2 052 $50,000 5 .47% 2 053 $125,000 5 .85% 2 054 $50,000 5 .82% 2 054 $125,000 5 .85% 2 055 $100,000 2 .45% 2 059 $15,000 3 .86% 2 059 $85,000 3 .33% 2 060 $25,000 2 .97% 2 060 $50,000 3 .07% 2 062 $50,000 T otal NJNG LT Debt $1,797,845 S ubstantial liquidity at both NJNG and NJR - $825M of credit facilities available through FY2029 Term Debt1 Maturity Schedule as of September 30, 2025 / $ in Millions, unless otherwise noted $1.4B
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32 Originated from Expertise in Energy Value Chain Clean Energy Ventures (CEV) Flexible Renewable Project Platform Storage and Transportation (S&T) Long-Term Energy Infrastructure Energy Services (ES) Capital-light Cash Generator NJR Home Services (NJRHS) Customer Focused Field Services New Jersey Natural Gas (NJNG) Stable, Regulated Utility Growth NJR: Complementary Energy Infrastructure Platform Predictable Net Financial Earnings and Incremental Organic Growth Opportunities 32 NJR: Complementary Energy Infrastructure Platform 33 NJR: Business Portfolio 34 NJR: Dividend Growth: Raised for 30 Consecutive Years 35 NJR: Drivers of Long-Term Growth Rate of 7-9% 36 NJNG: Regulatory Environment 37 NJNG: Customer Growth 38 NJNG: Commitment to Affordability 39 S&T: Strategically Located Assets 40 S&T: Adelphia Gateway 41 S&T: Adjusted EBITDA 42 CEV: Diverse Commercial Solar Portfolio 43 CEV: “Utility Like” Revenue Stack with Optionality 44 CEV: SREC Hedging Strategy Stabilizes Revenue 45 Energy Services: Overview 46 Energy Services: Long-Option Strategy 47 Energy Services: Asset Management Agreements 48 Home Services (NJRHS) 49 Shareholder and Online Information
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33 NJR Home Services offers customers home comfort solutions. NJR: Business Portfolio Natural Gas and Renewable Fuel Distribution; Solar Investments; Wholesale Energy Markets; Storage & Transportation Infrastructure; Retail Operations Operates and maintains Natural Gas transportation and distribution infrastructure. New Jersey Natural Gas (NJNG) Clean Energy Ventures (CEV) Storage and Transportation (S&T) Energy Services (ES) NJR Home Services (NJRHS) CEV develops, invests in, owns and operates energy projects that generate clean power and provide low carbon energy solutions. Invests in, owns and operates midstream assets including natural gas pipeline and storage facilities. Provides unregulated, wholesale natural gas to consumers across the Gulf Coast, Eastern Seaboard, Southwest, Mid- continent and Canada. Demonstrated leadership as a premier energy infrastructure and environmentally-forward thinking company
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34 NJR Dividend Growth: Raised for 30 Consecutive Years Committed to Returning Capital to Shareholders Dividend HistoryDividends per Share Record Date Payable Date Amount Per Share 9/22/2025 10/1/2025 $0.475 6/10/2025 7/01/2025 $0.45 3/11/2025 4/01/2025 $0.45 12/11/2024 1/02/2025 $0.45 9/23/2024 10/01/2024 $0.45 6/12/2024 7/01/2024 $0.42 3/13/2024 4/01/2024 $0.42 12/13/2023 1/02/2024 $0.42 9/20/2023 10/02/2023 $0.42 6/14/2023 7/03/2023 $0.39 3/15/2023 4/03/2023 $0.39 12/14/2022 1/03/2023 $0.39 9/26/2022 10/03/2022 $0.39 6/15/2022 7/01/2022 $0.3625 3/16/2022 4/01/2022 $0.3625 12/15/2021 1/03/2022 $0.3625 9/20/2021 10/01/2021 $0.3625 6/16/2021 7/01/2021 $0.3325 3/17/2021 4/01/2021 $0.3325 12/16/2020 1/04/2021 $0.3325 Highlighted Rows Reflect Changes in Quarterly Cash Dividends $1.09 $1.17 $1.25 $1.33 $1.45 $1.56 $1.68 $1.80 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 $1.90 FY 2026 Dividend
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35 NJR: Drivers of Long-Term Growth Rate of 7-9% Highly Visible NFEPS Growth with Potential for Additional Upside, No Block Equity Needs, "Utility-like" Earnings Contribution NJNG CEV S&T Energy Services Improved Utility Gross Margin after Successful Rate Case Continued Customer Growth Energy Efficiency Efforts Drivers of 7-9% Growth Rate Potential Upside Drivers Above 7-9% Contracted REC Revenue High Operational Availability Extensive Project Pipeline Stronger than expected BGSS incentives margin from optimization of supply portfolio Upside from power demand growth Long-term Contracted Capacity Organic Capacity Expansion Projects Successful Recontracting Driven by Improving Storage Market Short-term capacity optimization Stable Cash Flows from AMA Fixed Payments Normalized Contribution from "Long- Option" Strategy (Does not consider potential positive impacts from significant weather events.) Natural gas price volatility due to weather events
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36 NJNG: Regulatory Environment $3.2B1 Rate Base 9.6% Approved ROE 1. As of the most recent base rate case, settled on November 21, 2024 for a test year ended on June 30, 2024 54% Equity Layer Supportive Regulatory Construct Stable Rate Case Results Decoupled Rates Minimization of Regulatory LagMargin Sharing Incentives • Filed with the New Jersey Board of Public Utilities in January 2024 • Settlement approved in November 2024 • Base rate increase of approximately $157 million through June 30, 2024 (the end of our test year) Settlement of Most Recent Rate Case Investments in SAVEGREEN® are incremental to rate base and earn near-real time returns through a rider that is updated annually. NJNG’s natural gas commodity price is a pass-through cost in the Basic Gas Supply Service (BGSS) program NJNG’s “BGSS Incentive Programs” allow optimization of assets when not needed for customer requirements
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37 504 512 521 530 539 548 558 564 569 576 583 589 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2030 450 475 500 525 550 575 600 625 NJNG: Customer Growth Operates and Maintains Natural Gas Transportation and Distribution Infrastructure in New Jersey (predominately in core territories of Monmouth, Ocean, and Morris Counties, but also in Middlesex, Sussex and Burlington Counties) 588,975 Total Customers 6 Counties Across New Jersey NJNG Total Customers at Fiscal Year End (in 000s) 630 - 640 NJNG customer base continues to expand, growing between 7,000 - 9,000 new customers a year
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38 NJNG: Commitment to Affordability Customer Affordability remains a central priority for NJNG amid rising energy costs and economic pressures Average customer bill <1.5% total share of wallet1 NJNG offers financial assistance programs, equal payment plans, and energy efficiency initiatives to help customers manage bills. NJNG also maintains one of the lowest complaint rates per 1,000 customers among New Jersey utilities. Average Share of Wallet in NJR's Core Territories (Monmouth, Ocean, Morris: 2000-2024) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 20240.8% 1.0% 1.3% 1.5% 1.8% 2.0% 2.3% NJNG Average 1.4% = State Average 1.4% 1. Source: Company Data for Monmouth, Ocean, and Morris Counties / US Census, Population Division / Federal Reserve Economic Data: Median Household Income Data Inclusive of new rates following most recent rate case settlement
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39 S&T: Strategically Located Assets Leaf River (storage), Steckman Ridge (storage), and Adelphia Gateway (transportation) ▪ 32.2 mmdth high deliverability salt cavern storage facility in southeastern Mississippi ▪ Acquired October 2019 ▪ 100% owner & operator ▪ Serves the fastest growing natural gas market in North America • 12.6 mmdth reservoir storage facility in southern PA • Placed in service April 2009 • 50% ownership interest ▪ Serving the Northeast Region with a high dependence on storage and increasingly constrained pipeline capacity ▪ 0.9 mmdth/d interstate pipeline from NE PA to greater Philadelphia area ▪ Acquired January 2020 / Placed in-service September 2022 ▪ 100% owner & operator ▪ Serving the Northeast region, where the current pipeline grid is constrained Maximize capabilities of existing assets as pipeline and storage constraints highlight the benefit of storage and transportation infrastructure
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40 S&T: Adelphia Gateway Strategically Positioned with Existing Capability to Serve Growing Northeast Market Areas Adelphia Section 4 Base Rate Case • Constructive Adelphia rate case outcome provides incremental NFE; lower depreciation rate leads to an increase in NFE while preserving rate base for future rate cases • Considered investments made in rate base, expenses of pipeline operations, and regulatory driven projects Tailwinds for Adelphia Business Development • Evaluating new customer needs that can enhance revenue • Increasing demand opportunities (Data Centers, Power Gen) • Numerous re- contracting options through 2030 present potential for rate improvement under favorable market conditions Example of Long-Term Contract Incremental to NFE Following the successful rate case on Adelphia, we recently awarded one of our utility customers a 10-year firm contract effective November 1, 2025, providing incremental revenues to Adelphia of ~$1.5 million annually
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41 S&T: Adjusted EBITDA • Adjusted EBITDA is net income before interest, income taxes, depreciation and amortization, corporate overhead and other income, net. S&T's Net Income (GAAP) $ 18,541 Add Interest expense, net 23,170 Income tax expense 5,985 Depreciation and amortization 23,010 Corporate overhead 9,221 Less: Other Income, net 8,416 Adjusted EBITDA (Non-GAAP) $ 71,511 S&T Reconciliation of Adjusted EBITDA FY2025 ($ in 000s) $72 Adjusted EBITDA Fiscal 2025 Fiscal 2027 $— $20 $40 $60 $80 $100 $120 ($ in M) $95 - $105
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42 CEV: Diverse Commercial Solar Portfolio Diverse and Innovative Commercial Solar Projects Throughout Seven States; Largest Solar Owner-Operator in New Jersey CEV owns and operates commercial solar projects in New Jersey, Rhode Island, New York, Connecticut, Pennsylvania, Indiana, and Michigan with approximately 479MW of installed capacity Over $1 billion invested in the solar marketplace Over 80 commercial projects in service Parker Road Placed in Service in Fiscal 2025 Parker Road is located on the Combe Fill South Landfill in Morris County, NJ, expanding CEV’s portfolio of landfill/ brownfield assets. This further demonstrates CEV’s commitment to operating on underutilized land to provide clean energy in a land- constrained state.
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43 Subsidy / PPA Revenue, 87% Merchant Power, 13% CEV: “Utility Like” Revenue Stack with Optionality Fixed Component Provides Stable Earnings Contribution With High Visibility CEV Revenue Fiscal 20251 Majority of CEV revenue is contracted Fixed Revenue Component Consists of: • State sponsored subsidy programs or feed-in Tariff agreements • Power Purchase Agreements (PPAs) 1. CEV Fiscal 2025 Revenue included approximate.ly $1.1M of residential solar revenues, which was sold in November 2024 Monetization of Investment Tax Credits Merchant Power Threshold: High Single-Digit Unlevered IRR + + Option Value Incremental to Initial Investment Decision Emerging Technologies Exploring firming generation throughout NJRCEV’s solar fleet Advancing distributed generation strategy Repowering Maximizing power generation Future Option Value Load to Generation Focus on repositioning existing wholesale assets to support large retail loads (i.e., datacenters) $112.5M1
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44 CEV: SREC Hedging Strategy Stabilizes Revenue Based on Energy Year1, as of September 30, 2025 1. Energy Years run from June 1 of the prior year to May 31 of the respective year; for example, Energy Year 2026 began on June 1, 2025 and ends on May 31, 2026. Based on Fiscal Year, as of September 30, 2025 84% Hedged Through Fiscal Year 2027 70% Hedged Through Energy Year 2027 Percent Hedged Average Price Current Price (EY) Thousands 295 214 169 79 21 93 90 169 Hedged Unhedged EY 2026 EY 2027 EY 2028 EY 2029 93% $179 $192 70% $166 $175 65% $157 $161 32% $146 $150 Thousands 312 246 137 79 46 119 167 FY 2026 FY 2027 FY 2028 FY 2029 Percent Hedged Average Price Current Price (FY) 100% $184 $187 84% $166 $170 54% $155 $107 32% $146 $100 Represents CEV Commercial Solar Business
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4545 Energy Services (ES) Operates in key market zones across the U.S., utilizing pipeline and storage assets to create geographic and seasonal optimization opportunities Maintains a long-option position to generate value Capital-light, Fee-based earnings Cash Generating Service Businesses Support Growth of Capital Investment
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46 $71.1 $39.1 $68.5 $111.5 $34.9 NFE FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 $— $25.0 $50.0 $75.0 $100.0 $125.0 Energy Services: Long-Option Strategy Managing a Diversified Portfolio of Physical Natural Gas Transportation and Storage Assets to Serve Customers Across North America; Fee-based Revenue through Asset Management Agreements • Proven track record of success, leveraging natural gas market volatility to drive value • Minimal long-term capital commitments and significant cash generation during outperformance years has significantly reduced NJR equity needs 1. A reconciliation of Financial Margin to Operating Income can be found in the Appendix Strong Energy Service NFE Contribution Over the Past 5 Years ($ in Millions) Fiscal 2022 - 2025 included revenue recognition from Asset Management Agreements ES has Reported Positive Financial Margin1 in Every Year Since Inception Max: 2014 - $172.4M Min: 2020 - $9.9M Over $1 billion ($1.6B) of financial margin over last 20 years (average of ~$80 million per year) ($ in Millions)
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47 Energy Services: Asset Management Agreements De-risking transaction for Energy Services business by securing 10 years of contracted cash payments with minimal counterparty credit risk NJR expects to recognize approximately $19.7 million annually in revenues between FY 2025 - FY 2031; recognized ratably across each quarter ($ in Millions)
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48 Home Services (NJRHS) Delivering Home Comfort Solutions ~ 150 licensed technicians, installers, plumbers, electricians and skilled workers • Provides residential service contracts for heating, cooling, water heating, electrical and standby generators • Equipment sales and installations, solar lease and purchase plans, plumbing and electrical services and repairs and indoor air quality products • Ruud Top Twenty Pro Partner Contractor for the 9th consecutive year • Completed 79,000 service calls and 4,000 HVAC, plumbing and generator installations in Fiscal 2025 • Maintains a nearly five-star customer satisfaction rating* * Rating determined by Shopper Approved. See njrhomeservices.com/reviews for more information. Celebrating its 25th Anniversary! Cash Generating Service Businesses Support Growth of Capital Investment
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49 The Transfer Agent and Registrar for the company’s common stock is Broadridge Corporate Issuer Solutions, Inc. (Broadridge). Shareowners with questions about account activity should contact Broadridge investor relations representatives between 9 a.m. and 6 p.m. ET, Monday through Friday, by calling toll-free 800-817-3955. General written inquiries and address changes may be sent to: Broadridge Corporate Issuer Solutions P.O. Box 1342, Brentwood, NY 11717 or For certified and overnight delivery: Broadridge Corporate Issuer Solutions, ATTN: IWS 1155 Long Island Avenue, Edgewood, NY 11717 Shareowners can view their account information online at shareholder.broadridge.com/NJR. Website: www.njresources.com Investor Relations: New Jersey Resources Investor Relations Contact Information Adam Prior Director, Investor Relations 732-938-1145 aprior@njresources.com 1415 Wyckoff Road Wall, NJ 07719 (732) 938-1000 www.njresources.com Corporate Headquarters Online Information Shareholder and Online Information Stock Transfer Agent and Registrar