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Investor Presentaiton

Inflation Reduction Act: Key Strategic Elements for NJR The IRA aligns with NJR's "all of the above" approach on energy transition Promotes investment and innovation across clean energy technologies that can help reach 2050 climate goals in the fastest, most affordable and most reliable way possible Extension of / Multipliers on Solar Investment Tax Credit Increased to 30% for the next 10 years Can be further increased with stackable adders CEV's portfolio is well-positioned to benefit from adders Transferability of ITCS Increases funding flexibility by allowing for sale of tax credits for cash. This allows for monetization of ITCs without equity partnership structures Market will need to develop, but the transferability of tax credits will likely generate new demand for ITCs Hydrogen, RNG, Energy Storage Incentives Helps improve cost parity for green hydrogen and reduce the cost for our ratepayers May provide additional investment opportunities for NJNG and CEV N New Jersey Resources 20 20
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