Global Water Resources, Inc. · NASDAQ:GWRS
Global Water Resources — Investor Presentation (September 2026)
25 slides from Global Water Resources's investor presentation, September 2026
Slide 1: Global Water Resources Investor Presentation
GLOBAL WATER Investor RESOURCES Presentation Nasdaq: GWRS September 2026 CRITICAL WATER INFRASTRUCTURE IN ONE OF THE FASTEST-GROWING, MOST WATER-CONSTRAINED REGIONS IN THE U.S.
Slide 2: Forward-Looking Statements
FORWARD- Certain statements in this presentation include certain forward-looking statements which reflect the company's expectations regarding future events. These forward-looking statements include, but are not limited to, statements about our strategies; expectations about future business plans, p
Slide 3: Global Water Resources Key Stats
GLOBAL WATER RESOURCES KEY STATS Dividend Connection Growth Stock Stats Yield 69,429 Stock Price 9/18/26 $8.50 3.6% 52 week Low-High $6.55 - $11.17 6.6% CAGR Avg Volume (3 mo.) 108.5 Market Beta (5Y Monthly) 0.93 Cap Shares Outstanding 29.9 $245M Enterprise Value 45,823 Total Revenue ttm $60.1M $381
Slide 4: Fast-Growing Utility Provider
Fast-Growing Utility Provider AZ Growth Corridor Service Areas Water Resource Management Primarily near Metropolitan Phoenix & Tucson, Arizona Own & Operate 39 Systems Active M&A Strategy Water, Wastewater & Recycled 23 Systems Acquired Since 2017 Water Service 1 Billion+ Gallons of Water Recycled A
Slide 5: Critical Infrastructure in Growth Areas
CRITICAL INFRASTRUCTURE IN GROWTH AREAS Our Service Areas 400+ square miles West Valley Region Certificated Service Area City of Maricopa’s Maricopa Casa Grande Region Pinal County population grew 80.2% between the 2010 U.S. Census and the 2025 44% Population growth U.S. Census estimate.1 Sun Corrid
Slide 6: Why Invest in Global Water Resources
WHY INVEST IN ARIZONA’S IMPROVING AFFORDABLE BOOMING ACCESS & HOME PRICES ECONOMY TRANSPORTATION M&A RATE REVIEWS IN WATER ACCESS OPPORTUNITY PROCESS AND ALLOWS FOR HUNTING UPCOMING GROWTH 6
Slide 7: Unprecedented Investment Fuels Growth
UNPRECEDENTED INVESTMENT FUELS GROWTH Capital Investment Commitments in Arizona Aerospace & Defense USD Billions 1 $141.6B Data Centers $90.7B Semiconductor Automated & EVs $51.2B $7.2B FY17-19 FY20-22 FY23-24 FY25-26 Fiscal Years Ended June 30 Sources: Google Maps and company websites. 1) Based on
Slide 8: Affordability
AFFORDABILITY Median Home Prices Maricopa’s median home price $347K is at a 26% discount to the average June 20261 median home price of $469K in metro Phoenix. $580K $425K $525K $465K $455K $469K $435K $425K $435K $400K $400K $455K $347K $465K Buckeye $580K $525K $347K Phoenix Chandler Mesa Gilbert
Slide 9: Accessibility
ACCESSIBILITY State Route 347 Construction Improves 14-mile corridor between City of Maricopa and I-10, enhancing accessibility1 Eliminating key traffic signals, upgrading critical intersections & bridges, and adding an additional lane in each direction Scheduled completion by end of 2029 Anticipate
Slide 10: Reliable Ground Water Supply
RELIABLE GROUND WATER SUPPLY Ground Water Supply Maricopa-Stanfield Subbasin ~23,000 acre-feet aquifer sits under the Assured Water Supply No reliance on Colorado River City of Maricopa, Arizona one of the region’s largest Casa Grande Ridge Maricopa-Stanfield Subbasin 10 Source: inMaricopa.com April
Slide 11: Assured Water Supply Drives Growth
ASSURED WATER SUPPLY DRIVES GROWTH Designation of Assured Rigorous ADWR Standards to Water Supply (DAWS) Prove & Obtain DAWS (acre-feet per year) For 100 Physical, years1 Legal & GW - Santa Cruz DAWS Continuous 22,914 Availability 52% Utilization Consistent 19% with Conservation ADWR Financial DAWS
Slide 12: Rate Review Results
RATE REVIEW RESULTS Settlement Agreement = Net revenue impact of ~$1.9 million In the settlement agreement, which bifurcates and settles the rate cases for GW-Santa Cruz & GW-Palo Verde1, the parties have agreed to, among other things: GW-Santa Cruz GW-Palo Verde $ Increase GW-Santa Cruz’s annual re
Slide 13: Continuous Rate Reviews in Coming Years
CONTINUOUS RATE REVIEWS IN COMING YEARS GW – GW- SANTA CRUZ SAGUARO, FARMERS, OCOTILLO GW – SANTA CRUZ ADDITIONAL RATE REVIEWS ACC Decision on Rate Review & Rate Review Settlement Agreement Consolidation of Test Year: 2027 Pima County Utilities Test Year: 2024 Test Year: 2026 ~$2.3M increase1 2026 2
Slide 14: Highly Fragmented Arizona Market
HIGHLY FRAGMENTED ARIZONA MARKET 300+ GWRS 39 Systems Highly Fragmented Growth Opportunity 300+ investor-owned water & Positioned as Significant opportunity remains wastewater utilities across Arizona Consolidator with hundreds of small, — one of the most fragmented underserved systems. Regulatory u
Slide 15: Performance Results & Drivers
PERFORMANCE RESULTS & DRIVERS Total Active Connection Growth Revenues Adjusted EBITDA1 (in thousands) Year End 5x peer group Year End average CAGR $55.8M $26.5M Acquired (Cumulative) Organic 68.6 69.4 $35.5M 57% 63% 64.5 $16.3M 61.8 9.5 9.5 56.3 7.5 53.9 7.5 59.9 59.0 4.2 57.0 48.9 4.1 54.3 45.8 2.9
Slide 16: Strong Performance Amongst Peers
STRONG PERFORMANCE AMONGST PEERS EBITDA Growth 1,2 Dividend Yield Active Connection Growth4 TTM vs FY 2016 TTM 5-Year Average @12/31/2025 5x peer group average 7.0% 191% 3.6% 3.4% 3.4% 114% 98% 2.7% 2.7% 2.8% 2.5% 2.5% 2.4% 80% 80% 81% 2.3% 3.0% 70% 75% 2.3% 55% 1.6% 42% 1.4% 1.3% 0.7% 0.6% 0.5% 0.3
Slide 17: Contact Us
CONTACT US Global Water Resources, Inc. Ron Fleming President & CEO T: 480.999.5290 ron.fleming@gwresources.com Mike Liebman SVP & CFO T: 480.999.5104 mike.liebman@gwresources.com Chris Krygier Chief Operating Officer T: 623.377.2603 christopher.krygier@gwresources.com Investor Relations Ron Both or
Slide 18: Appendix
Appendix 18
Slide 19: Leadership Team
LEADERSHIP TEAM Mike Liebman Chris Krygier Ron L. Fleming CFO & SVP COO Robert J. Kuta President, CEO & Director EVP of Engineering & Environmental Resources 25+ years of related management and utility 25+ years of finance and management 15+ years’ experience in operational Joined Global Water in Ja
Slide 20: Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS Financial information in this and the following slides are presented in thousands (except share and per share amounts). (in thousands, except share and per share amounts) June 30, 2026 December 31, 2025 Capitalization and Liabilities Assets Capitalization Utility Plant $
Slide 21: Consolidated Statements of Operations
CONSOLIDATED STATEMENTS OF OPERATIONS Thre e Months Ende d Six Months Ende d June 30, June 30, (in thousands, except share and per share amounts) 2026 2025 2026 2025 Revenue Water service $ 8,404 $ 7,368 $ 15,010 $ 13,348 Wastewater and recycled water service 7,252 6,873 13,932 13,350 Unregulated re
Slide 22: Reconciliation of GAAP to Non-GAAP Financial Measures
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES Twelve Months Ended Years Ended June 30, December 31, (in thousands) 2026 2025 (in thousands) 2025 2024 Cautionary Statement Regarding Net Income $ 3,135 $ 5,571 Net Income $ 2,957 $ 5,789 Net Income Margin 5.2 % 10.3 % Net Income Margin 5.3 % 11
Slide 23: Mission, Vision & Commitment
MISSION, VISION & COMMITMENT Our Commitment MISSION Aggregate water & wastewater utilities so that we and our customers can realize the benefits of consolidation, regionalization and environmental stewardship in the face of today’s water scarcity. Deliver high-quality Leverage advanced service at a
Slide 24: City of Tucson Water Systems Acquisition
CITY OF TUCSON WATER SYSTEMS ACQUISITION Catalina • July 8, 2025: Acquired seven public water systems Marana from the City of Tucson at a value equivalent to approx. 1.05 times the current rate base. Casa Adobes • Acquisition added: Tanque Verde • ~2,200 active water service connections. Tucson • ~$
Slide 25: Sustained Affordability
SUSTAINED AFFORDABILITY Median Bill as % of Median Income • Disciplined management of expense and 1.80% preventive maintenance to minimize 1.60% annual customer impact 1.40% 1.20% • Innovative, multi-tiered rate structures 1.00% designed to reduce customer bills 0.80% • Conservation rebates incentiv
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