SJW Group Dividend Growth and Capital Expenditure Plan

SJW Group SJWC Rate Cases/Regulatory • Advanced Metering Infrastructure (AMI) Approved by CPUC in June - - Approximately $100 million for AMI deployment Bulk of spend 2024 - 2026 Separate from general rate case (GRC) settlement First approval for large-scale investor-owned water utility in CA Cost of Capital - - - Increase requested in revenue and return on equity (ROE) to 10.3% Requested capital structure of 55% equity and 45% debt Decrease proposed in average cost of debt to 5.48% Decision expected in 3Q 2022 SJJJ SAN JOSE WATER Supports water conservation Provides near real-time access to water usage Helps customers manage usage and bills Further drives reduction in water lost to undetected homeowner leaks 11

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