California Water Service : 2026 NV/OR Acquisitions

About this update from California Water Service Group

‌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 2 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 3 ‌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 7,900 1,135 681 155,000+ Miles of water main Groundwater wells Storage tanks Valves 50,000+ 2010+ 6 12 Fire hydrants Sampling stations Surface water treatment plants Wastewater treatment plants 6 ‌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 7 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 8 ‌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 9 ‌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 10 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) Median Monthly Household Income Median Monthly Cal Water Bill Bill as % of Income 2020 $6,471 $61.81 0.96% 2021 $6,798 $69.74 1.03% 2022 $7,108 $72.62 1.02% 2023 $7,489 $64.63 0.86% 2024 $8,383 $78.48 0.94% 2025 $9,384 $82.70 0.88% 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 23.5% reduction in Scope 1 Goal of 63% reduction for over 12% renewable energy use C 2 GHG emissions by 2024 Scope 1 C 2 by 2035 in 2025 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 16 Utility systems ~$109M Increased consolidated year-end 2025 rate base $218M * Purchase price *S ubject 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 15 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 17 ‌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 18 18 ‌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 . 19 ‌Questions 20 2

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