Investor Presentaiton

Thousands CEV - SREC Hedging Strategy Stabilizes Revenue Based on Energy Year¹, as of September 30, 2022 EY 2023 399 Percent Hedged Average Price Current Price (EY) 9 98% $203 $229 Percent Hedged EY 2024 395 6 98% Average Price $197 Current Price (EY) $215 EY 2025 EY 2026 114 N New Jersey Resources 1) 353 Hedged Unhedged 283 Percent Hedged 46 89% Average Price $190 Current Price (EY) $201 Percent Hedged Average Price 29% $173 Current Price (EY) $184 Energy Years run from June 1 of the prior year to May 31 of the respective year; for example, Energy Year 2023 begins on June 1, 2022, and ends on May 31, 2023 14

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