Dividend Growth and Regulatory Update

Infrastructure Investment Drives Rate Base Growth SJW Group CapEx in millions $240 CAGR 12.8% $190 $141 $136 $140 $134 $129 $90 $40 SJW Group $199 $239 $223 2016 2017 2018 2019 2020 2021 2022 Budgeted SAN JOSE WATER • Settlement agreement • between SJW and Public Advocate Office allows for $350 million 3-year capital program Excludes $100 million for Advance Meter Infrastructure (AMI) between 2022 and 2025, pending CPUC approval 10

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