California Water Service Group (CWT) investor relations material

Company overview and history

• Celebrating 100 years, serving over 2.2 million people in five states, with a legacy of operational ingenuity and regulatory integrity.

• Largest regulated water utility in the western U.S., with 500,000+ connections and operations in California, Hawaii, New Mexico, Washington, and Texas.

• Extensive infrastructure includes 8,033 miles of water main, 1,119 wells, 689 storage tanks, and 17 wastewater treatment plants.

• Financial strength demonstrated by $1.0B in 2025 revenue, $128M net income, and an A+/stable S&P Global credit rating.

Recent performance and financial results

• Q2 YTD 2026 operating revenue reached $523.2M, up from $468.9M in Q2 YTD 2025; net income rose to $60.5M from $55.5M.

• Diluted EPS for Q2 YTD 2026 was $1.10, compared to $0.93 in the prior year.

• Three-year revenue grew from $794.6M in 2023 to $1,036.8M in 2024 and $1,100.0M in 2025; net income and EPS also showed consistent growth.

• Returned $198M in dividends over the last three years, with a 7.6% five-year dividend CAGR and 326 consecutive quarterly dividends.

Regulatory and business development highlights

• 2024 California General Rate Case (GRC) decision in April 2026 authorizes $1.68B in capital investments and revenue increases through 2027.

• New balancing accounts and mechanisms introduced to support financial stability and customer affordability.

• Settlement agreements reached or pending in Washington and Texas rate cases; ongoing regulatory progress in Hawaii and New Mexico.