SJW Group Dividend Growth and Capital Expenditure Plan

SJW Group Acquisition Growth and Opportunities 2010 2020 Customer Growth - 25+ acquisitions by SJW Group and subsidiaries • 65% customer growth, ~154K new customers • • Transformational growth with CTWS acquisition in 2019 2021 Acquisitions SJWTX completed acquisitions of Kendall West, Bandera East and Clear Water Estates - Completed acquisitions represent over 1,800 service connections Clear Water Estates first fair market value acquisition in Texas by any utility Connection growth in Texas nearly quadrupled between 2006 and 2021 to more than 25,000 water and wastewater connections Opportunities More than 8,400 community water systems in CA, CT, ME and TX More than 16,000 publicly owned wastewater systems nationwide Very Small, Small and Medium-Sized Community Water Systems Sources: Company filings, EPA Drinking Water Dashboard, Cybersecurity and Infrastructure Security Agency, "Water and Wastewater Systems Sector" In CA, CT, ME and TX 14,020 Very Small Systems Population Served Very Small = 25-300 Small 301-3,300 Medium = 3,301 - 10,000 1,023 Medium Systems 2,879 Small Systems

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