SJW Group Dividend Growth and Capital Expenditure Plan

2022 CapEx A water toast to commission the new Saco River Drinking Water Treatment Facility in July 2022, with Maine Governor Janet Mills (right) Annual replacement of approximately 1% of pipeline across all four states of operation, with approximately $75 million invested annually Significant "generational investment" with new facility in Biddeford, Maine, replacing 1884 plant; $100 million in advanced metering infrastructure (AMI) implementation, with bulk of spend between 2024 and 2026. SJW Group Budgeted 2022 CapEx CA $115.1M TX $24.5M CT $223M $61.4M ME $21.8M Timely Recovery Through Regulatory Mechanisms -67% ~51% Forward-Looking Test Year ~16% Infrastructure Recovery Mechanism -33% Traditional Recovery -33% 10 10

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