Slide 1: First Quarter 2026 Earnings Call
NYSE First Quarter 2026 LISTED WTRG Earnings Call May 7th, 2026 February 2024
Slide 2: Brian Dingerdissen
Brian Dingerdissen Vice President Treasury, FP&A and Investor Relations 2
Slide 3: Forward Looking Statement
Forward Looking Statement This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which generally include words such as “believes,” “expects,” “intends,” “anticipates,” “estimates,” and similar expressions. The Company can give no
Slide 4: Christopher Franklin
Christopher Franklin Chairman and Chief Executive Officer 4
Slide 5: Corporate Updates
Corporate Updates Q1 2026 EPS Long-term Received Merger $0.79 GAAP EPS CAGR Approval from $0.83 Non-GAAP Growth Kentucky PUC 5-7% 1 Strong Closed on Greenville Operating Municipal Water Metrics Authority Transaction 1 From adjusted 2024 EPS of $1.97 (Non-GAAP) 5
Slide 6: Progressing on the Path to Merger Close
Progressing on the Path to Merger Close Approvals and Timeline Q4 2025 Q1 2026 Q2 2026 – Q1 2027 Q1 2027 Filed All State Shareholder Approvals Obtain Regulatory Transaction Close Regulatory Received Approvals Transaction expected to close by the Applications AWK and WTRG Approvals are needed from st
Slide 7: Integration Process
Integration Process Integration planning effort underway Subject matter experts at both companies Essential employees are involved as part of: Reviewing various workstreams to create the combined AWK/WTRG company Integration Engineering Supply Chain Core Integration Team Management Office Communicat
Slide 8: Operational Excellence & Quality
Operational Excellence & Quality Safe Water Infrastructure Stewardship Dedicated stewards of Unwavering commitment to water Leveraging scale for more efficient environmental resources and quality and safety standards infrastructure investment habitats
Slide 9: Daniel Schuller
Daniel Schuller EVP, Chief Financial Officer 9
Slide 10: Earnings per Common Share
NYSE: WTRG Earnings per Common Share Q1 2026 vs. Q1 2025 Change in Earnings per Share $1.20 $0.07 $0.01 $0.01 GAAP $(0.01) $1.03 $1.00 $(0.10) Non-GAAP GAAP $0.04 $0.83 $0.80 $0.79 $(0.22) $0.60 $0.40 $0.20 $0.00 Q1 2025 Rates & Surcharges Growth - Water Volume - Water Volume - Gas Expenses Other Q1
Slide 11: Regulatory Activity
Regulatory Activity As of May 6, 2026 2026 COMPLETED PENDING REGULATORY REGULATORY RECOVERIES RECOVERIES Water segment base rate cases or Water segment base rate cases or surcharges in PA, IL, IN, and OH with surcharges in OH, NC, NJ, TX, and VA annualized revenue increase of $5.7 with requested ann
Slide 12: Christopher Franklin
Christopher Franklin Chairman and Chief Executive Officer 12
Slide 13: Continued Water and Wastewater Acquisition Success
Continued Water and Wastewater Acquisition Success Transactions Selected Pending Transactions (2) Cumulative Additions of Customers Closed in 2026 Through Acquisitions Since 2015 PA DELCORA • Wastewater Over 138,000 1 140,000 • 198,000 customers(1) • $276.5M purchase water and wastewater PA price 12
Slide 14: Guidance Outlook
Guidance Outlook Earnings Per Share Anticipated growth in long-term earnings per share at a compound annual growth rate of 5 to 7% from the adjusted 2024 earnings per share of $1.97 (non-GAAP) for the three-year period through 2027. Dividend Payout Ratio Debt to Capital Ratio FFO to Net Debt Ratio D
Slide 15: For More Information Contact:
For More Information Contact: Brian Dingerdissen Ed Vallejo Vice President, Director, Investor Relations, FP&A and Treasury Investor Relations (610) 645-1191 (267) 370-9717 BJDingerdissen@Essential.co EdVallejo@Essential.co 15
Slide 16: Appendix
4 Essential 16
Slide 17: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures 17
Slide 18: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Year Ended December 31, 2024 (in millions, except per share data) FY 2024 Net income (GAAP financial measure) $595.3 Adjustments: Gain on sales of assets and related transaction activities (94.0) Adjustments for estimated effects of unfavorable weather 18.7 Income tax
Slide 19: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three Months Ended March 31, 2026 (in millions, except per share data) 1Q 2026 Net income (GAAP financial measure) $224.4 Adjustments: Costs associated with the pending merger 16.3 Income tax effect of non-GAAP adjustments (4.4) Adjusted income (Non-GAAP financial mea
Slide 20: State by State Comparison of Services
Water and Wastewater Gas Distribution Water Wastewater Total Total Rate Base Rate Base State Connections Connections Customers Customers (millions) (millions) (thousands) (thousands) (thousands) (thousands) PA $4,850 460.0 68.0 528.0 $4,454 706.3 State by State IL $609 69.9 24.9 94.8 Comparison OH T
Slide 21: Regulatory Activity Completed
Annualized Revenue State Effective Date Docket Number Segment Type 2026 Increase ($ 000's) Regulatory Ohio Illinois 1/1/2026 1/1/2026 1/1/2026 N/A N/A Wrm #25-033 Water Water Water Rate Case Rate Case Surcharge 889 945 1,872 Activity Illinois Indiana Indiana 1/1/2026 1/1/2026 4/1/2026 SRM #25-030 N/
Slide 22: Regulatory Activity Pending
Requested Annualized Regulatory State Docket Number Segment Type Revenue Increase ($ 000's) Activity Texas Ohio North Carolina 58124 25-0594-WW-AIR W-218, Sub 629 Water Water Water Rate Case Rate Case Rate Case * 29,148 14,653 42,242 Pending Virginia New Jersey Water and Wastewater CASE NO. PUR-2025