2026 NV/OR Acquisitions

‌California Water Service Group

100 Years of Trusted Service - Now Investing in Nevada's and Oregon's Tomorrow

March 2026

©2025 California Water Service Group

‌Celebrating 100 Years of "Trust on Tap"

Formed in 1926 by three WWI veterans to serve five California communities, and today serving 2M+ people in five states

"Trust on Tap" earned over decades of operational ingenuity, regulatory integrity, and commitment to public health

Century of overcoming challenges along the way, from droughts to supply shortages to regulatory delays-same tenacity and resilience that will take us into next 100 years

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Largest

‌Regulated Water Utility in the Western United States

500,000

Total connections

91.2%

of consolidated revenue

6,800

Total connections

4.6%

of consolidated revenue

11,800

Total connections

0.8%

of consolidated revenue

38,500

Total connections

2.6%

of consolidated revenue

4,900

Total connections

0.8%

of consolidated revenue

Statistics as of Dec. 31, 2025

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‌Guided by Our Strategic

Framework

WATER SERVICE GROUP ONE TEAM. SAME DIRECTION

4

‌Financial Strength Provides Stability

$1.0B

2025 revenue

$2.7B

In market cap

$600M

In credit facilities

A+/stable

Global credit rating affirmed by S&P Global

AA-

Cal Water's First

Mortgage Bonds rating

Publicly traded company that files audited annual statements with SEC and complies with Sarbanes -Oxley

5

‌Extensive Experience Maintaining and Operating Water and Wastewater Infrastructure

‌Building Customer Trust

Tap

water

Bottled

water

How we build customer trust

Pricey substitute - more than

100-fold

Protect customer health

Maintain and upgrade infrastructure

Protect sources of supply

Customers choose this option when they lose trust in their water utility

Communicate with customers

Be involved in community

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Quality and Reliability

‌Providing to Customers

Achieved 100% compliance with all primary and secondary WQ standards across all service areas in all states in 2025

Proactively addressing PFAS and well-positioned to meet new drinking water regulation ahead of compliance deadline

(active water sources monitored; 25 sites already treated, preparing to install 87 more treatment systems across service areas)

Industry leader in responsible infrastructure improvements:

$2.3 billion between 2020-2025

$517 million in 2025

$1.6 billion proposed through 2027 in our Infrastructure Improvement Plan

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‌Caring for People

Rigorous customer service targets: Achieve performance targets more rigorous than those set by regulators for call handling, billing, and service appointments

Community support through philanthropy: Donated $1.88M to local organizations in 2025, Season of Service provides employees opportunity to volunteer and deep relationships with each other and their communities

High employee satisfaction: Recognized as Great Place to Work®and USA Top Workplace, due in part to competitive pay and benefits; pathways to advancement; and priority of employee health and safety

24/7 emergency response: Provide emergency service around the clock and partner with first responders during crises

Extensive community engagement in emergency training and response: Hosted 23 community Emergency Operations Center training events in 2025 to enhance coordination and resilience during emergency events

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‌Preparing for Emergencies-Before They Happen

Prevent, Prepare, Respond, Recover

Community EOC trainings

Program conforms to Department of Homeland Security standards

Wildfire Taskforce / Red Flag Protocols

Earthquake Taskforce

Public Safety Power Shutoffs: Investments in generators, other infrastructure upgrades

Operations Rapid Response Team

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Affordable

‌Keeping Water

Actively pursue grants to lower costs and water bills

Proactively control expenses: lower-cost water sources, competitive pricing from suppliers

Maintain assets strategically to keep facilities operating optimally for longer periods

Provide convenient, interest-free payment plans

Invest in conservation programs that keep bills lower (Cal Water bills are up to 20.5% lower over past 15 years than they would have been w/o conservation programs, according to Alliance for Water Efficiency 2024 study)

Offer Rate Support Fund (discount for customers in higher-cost service areas) and low-income assistance program (benefits 24% of CA customers)

11

Sustainability

‌Focusing on

Highest-Priority ESG Topics

Affordability and Access

Water Quality and Compliance

Service Quality, Reliability and Resiliency

Climate Adaptation and

Conservation program: High-efficiency device rebates, free plumbing retrofit devices, customized incentive program for large users

Water loss control

Meaningful progress on material ESG topics by integrating them into our strategic framework

Readiness

100% zero-emission vehicles by 2035

5% recycled water

use by 2035

SWRCB water-use reductions by 2027

REPORTS

Climate change strategy Annual water supply and demand assessments Risk Assessment C Adaptation Framework Urban Water Management Plans

Conservation Master Plan 12

‌Protecting Customers Through Cyber Security

Robust preventative, detective, and recovery capabilities

Adoption of NIST cybersecurity framework and proven software and

hardware cyber solutions

Security Operations Center (SOC) 24/7 monitoring

Annual third-party network penetration test, employee training, and

tabletop exercise with FBI and Department of Homeland Security

Partnerships with state and federal agencies for threat intelligence and incident response support

Recently Completed

Capital Projects

From 2021 GRC, upgraded essential tools related to:

Network firewall Multi-factor authentication

Data loss prevention Phishing protection

Mobile device management

13

‌Recognized for Excellence

USA

AY

Greot Ploce To Work.

Certified

JUL 2025-JUL 2026

USA

Water Sense

14

‌Acquisition Bolsters Our Position as Leader in Western U.S., Provides Platform for Additional Growth

Acquiring Nexus Water Group's subsidiaries in Nevada and Oregon expands Cal Water's footprint into two additional Western states

~36,000

Total equivalent residential connections serving an estimated 115,000 people

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Utility systems

~$109M

Increased consolidated year-end 2025 rate base

$218M*

Purchase price

*Subject to customary closing adjustments

Closing expected by the end of 2026, subject to customary closing conditions and regulatory approvals

Establishes scalable regional platform with embedded growth opportunities

Transaction consistent with Group's disciplined capital allocation framework and long-term growth strategy

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Footprint

‌Nexus Acquisition Expands

WA

OR

NV

CA

NM

TX

HI

Nevada

• 26,466 total equivalent residential connections: 19,919 water / 6,547 wastewater

• 6 utility systems across three counties

• Largest investor-owned water/wastewater utility in Nevada

• Regulated by Public Utilities Commission of Nevada (PUCN)

Oregon

• 9,127 total equivalent residential connections: 4,835 water / 4,292 wastewater

• 10 utility systems across three counties, regulated water and unregulated wastewater assets

• Second largest water/wastewater utility in Oregon

• Regulated by Oregon Public Utility Commission (OPUC) (regulated water operations)

Proposed Future Service Areas

Existing Service Areas 16

Strategic

‌Rationale

Expansion into Nevada and Oregon enables us to grow our

pure play water and wastewater business

Geographic diversification enhances regulatory and financial balance

Opportunities for future growth

Assets and operating profile are highly consistent with Cal

Water's existing systems and operating expertise

Both states operate under hybrid ratemaking frameworks Strong historical regulatory relationships and environment

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‌Takeaways

We are a 100-year-old, leading regulated water and wastewater utility serving more than 2 million people in the western United States..

We are customer-focused, providing safe, clean water and reliable, high-quality service, and are committed to constructive regulatory filings that provide affordability and continued improvements in infrastructure..

We have the technical, managerial, and financial experience and expertise to operate these systems.

We are purpose-driven, committed to enhancing the quality of life for the communities we serve.

©2025 California Water Service Group

1818

‌CWT brings life and vitality to its communities by providing affordable, high-quality water and wastewater services to customers. The Company is committed to caring for people, protecting the planet, and operating with the utmost integrity.

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‌Questions

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