H2O America (SJW) investor relations material

Executive summary

• Annual meeting scheduled for May 13, 2026, to elect nine directors, approve executive compensation, ratify Deloitte & Touche LLP as auditor, and address other business.

• Company mission centers on delivering high-quality water, investing in infrastructure, and balancing affordability with regulatory compliance.

• 2025 financial highlights include $801M in operating revenue, $105M adjusted net income, $2.99 adjusted diluted EPS, and $501M in capital investments.

• Board and management emphasize long-term value creation, regulatory credibility, and proactive risk management.

Voting matters and shareholder proposals

• Proposals include electing nine directors, advisory approval of executive compensation, ratification of Deloitte as auditor, and other business.

• Board recommends voting FOR all proposals and each director nominee.

• Shareholders can vote via internet, telephone, mail, or in person at the meeting.

Board of directors and corporate governance

• Board consists of nine members, 78% independent, with 56% gender diversity and an average tenure of 5.1 years.

• Recent refreshment includes new appointments and committee rotations, with Heather Hunt named Lead Independent Director effective May 2026.

• Board committees: Audit, Compensation, Nominating & Governance, Finance, and Sustainability, all with independent members.

• Annual board and committee self-evaluations are conducted, and a Code of Conduct applies to all directors and employees.