New Jersey Resources (NJR) Proxy Filing summary

Executive summary

• Achieved net financial earnings per share (NFEPS) of $3.29, surpassing the long-term growth target of 7-9% and increasing dividends for the 30th consecutive year to $1.90 per share.

• Fiscal 2025 performance driven by diversified business model, strategic investments, and disciplined capital allocation.

• Continued focus on safety, reliability, affordability, and sustainability through system enhancements and energy-efficiency programs.

• Virtual 2026 Annual Shareowners Meeting scheduled for January 21, 2026, with multiple voting options available.

Voting matters and shareholder proposals

• Election of five directors for terms expiring in 2029.

• Advisory vote on executive compensation (say-on-pay).

• Approval of the 2026 Stock Award and Incentive Plan.

• Ratification of Deloitte & Touche LLP as independent auditor for fiscal year ending September 30, 2026.

Board of directors and corporate governance

• Board composed of 12 members, with active refreshment and succession planning; average tenure of 6.3 years.

• All directors except the CEO are independent; separate Board Chair and CEO roles.

• Board committees (Audit, LDCC, NCGC, Executive) are fully independent except the Executive Committee.

• Mandatory retirement age of 75; robust annual board and committee evaluations.

• Board diversity: 36% female directors, with women chairing two-thirds of active committees.