EX-99.2 3 brhc10037169_ex99-2.htm EXHIBIT 99.2

Exhibit 99.2
May 5, 2022 Second Quarter 2022Financial Results

Forward-Looking Statements and Non-GAAP Measures Forward-Looking StatementsThis presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. NJR cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond NJR’s ability to control or estimate precisely, such as estimates of future market conditions and the behavior of other market participants. Words such as “anticipates,” “estimates,” “expects,” “projects,” “may,” “will,” “intends,” “plans,” “believes,” “should” and similar expressions may identify forward-looking statements and such forward-looking statements are made based upon management’s current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect upon NJR. There can be no assurance that future developments will be in accordance with management’s expectations, assumptions and beliefs or that the effect of future developments on NJR will be those anticipated by management. Forward-looking statements in this presentation include, but are not limited to, certain statements regarding NJR’s NFEPS guidance for fiscal 2022, projected NFEPS growth rate, results of future rate cases, forecasted contribution of business segments to NJR’s NFE for fiscal 2022, customer growth at NJNG, future NJR and NJNG capital expenditures, projections of dividends and financing activities, infrastructure programs and investments such as IIP and energy efficiency programs, the ability to complete the Adelphia Gateway Pipeline project, and other legal and regulatory expectations.Additional information and factors that could cause actual results to differ materially from NJR’s expectations are contained in NJR’s filings with the SEC, including NJR’s Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings, which are available at the SEC’s web site, http://www.sec.gov. Information included in this presentation is representative as of today only and while NJR periodically reassesses material trends and uncertainties affecting NJR's results of operations and financial condition in connection with its preparation of management's discussion and analysis of results of operations and financial condition contained in its Quarterly and Annual Reports filed with the SEC, NJR does not, by including this statement, assume any obligation to review or revise any particular forward-looking statement referenced herein in light of future events.Non-GAAP MeasuresThis presentation includes the non-GAAP financial measures NFE/net financial loss, NFE per basic share, financial margin and utility gross margin. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found below. As an indicator of NJR’s operating performance, these measures should not be considered an alternative to, or more meaningful than, net income or operating revenues as determined in accordance with GAAP. This information has been provided pursuant to the requirements of SEC Regulation G.NFE and financial margin exclude unrealized gains or losses on derivative instruments related to NJR’s unregulated subsidiaries and certain realized gains and losses on derivative instruments related to natural gas that has been placed into storage at Energy Services and the impairment on NJR's investments in the PennEast Project, net of applicable tax adjustments as described below. Financial margin also differs from gross margin as defined on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization as well as the effects of derivatives as discussed above. Volatility associated with the change in value of these financial instruments and physical commodity reported on the income statement in the current period. In order to manage its business, NJR views its results without the impacts of the unrealized gains and losses, and certain realized gains and losses, caused by changes in value of these financial instruments and physical commodity contracts prior to the completion of the planned transaction because it shows changes in value currently instead of when the planned transaction ultimately is settled. An annual estimated effective tax rate is calculated for NFE purposes and any necessary quarterly tax adjustment is applied to NJR Energy Services Company.NJNG’s utility gross margin is defined as operating revenues less natural gas purchases, sales tax, and regulatory rider expense. This measure differs from gross margin as presented on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization. Utility gross margin may also not be comparable to the definition of gross margin used by others in the natural gas distribution business and other industries. Management believes that utility gross margin provides a meaningful basis for evaluating utility operations since natural gas costs, sales tax and regulatory rider expenses are included in operating revenues and passed through to customers and, therefore, have no effect on utility gross margin. Management uses NFE/net financial loss, utility gross margin and financial margin, as supplemental measures to other GAAP results to provide a more complete understanding of the Company’s performance. Management believes these non-GAAP measures are more reflective of the Company’s business model, provide transparency to investors and enable period-to-period comparability of financial performance. In providing NFE guidance, management is aware that there could be differences between reported GAAP earnings and NFE/net financial loss due to matters such as, but not limited to, the positions of our energy-related derivatives. Management is not able to reasonably estimate the aggregate impact or significance of these items on reported earnings and therefore is not able to provide a reconciliation to the corresponding GAAP equivalent for its operating earnings guidance without unreasonable efforts. NFE/net financial loss, utility gross margin and financial margin are discussed more fully in Item 7 of our Report on Form 10-K, NJR’s Form 10-Q filed on May 5, 2022 and, we have provided presentations of the most directly comparable GAAP financial measure and a reconciliation of our non-GAAP financial measure, NFE/net financial loss, to the most directly comparable GAAP financial measure, in the appendix to this presentation. This information has been provided pursuant to the requirements of SEC Regulation G.

1 Second-Quarter FY 2022 HighlightsSteve Westhoven | President & CEO 2 Financial HighlightsRoberto Bel | SVP and CFO 3 Q&A Session Agenda

Second Quarter 2022 Summary Quarterly Review NJR reported EPS of $1.00 and NFEPS of $1.36* for Q2 Fiscal 2Q22 * A reconciliation from NFE to net income can be found in the Appendix on slide 18. Construction 90% completed at Adelphia Gateway; flowing gas to its South Zone (serving the Philadelphia metro area) CEV has an ~680 MW pipeline of projects under contract, construction or exclusivity through fiscal 2027 Increased FY 2022 NFEPS guidance to $2.30 - $2.40 from previously issued guidance of $2.20 - $2.30; driven by outperformance at Energy Services (“ES”) New Jersey Natural Gas increased NFE by 28% to $102.8 million

Increasing Fiscal 2022 NFEPS Guidance Fiscal 2022 NFEPS Guidance by Segment Guidance increase due to ES over-performance Net Financial Earnings per Share * NFEPS long-term annual growth projections are based on the original $2.20 - $2.30 guidance range for fiscal 2022, which excludes the effects of Energy Services’ over-performance 7-9% LONG-TERM ANNUAL GROWTH*

Developments in Q2 Fiscal 2022 On March 31, 2022, NJNG filed its first rate recovery request for its BPU-approved Infrastructure Investment Program (IIP) for $25.6 million of estimated investments (including AFUDC)*** New Jersey Natural Gas Solid Performance in First Full Quarter Since New Base Rates Fiscal YTD Capital Expenditures* ~$144M Total change in PP&E (cash spent, capex accrued and AFUDC). Includes SAVEGREEN investments, which for GAAP purposes are included as part of cash flows from operations** Facilities and RNG & P2G included in “Other” (detailed on Slide 13) ~40% of capital expenditures earning a near real-time return NJNG Customers (in thousands) 568 Added 3,579 new customers YTD in fiscal 2022 Regulatory Updates *** Includes rate recovery for capital expenditures from the IIP from November 30, 2020 through June 30, 2022

CEV has built the largest pipeline in its historyTotal pipeline has grown to ~680 MW through FY 2027 CEV: Succeeding in an Evolving Solar Industry Surging demand for renewables has led to larger grid interconnection queues at PJM, creating delays in the approval process Policy transition, interconnect delays and supply chain bottlenecks are slowing down the ability to deploy capital in the short-term Core New Jersey market impacted by delayed implementation of the Solar Successor Program, TREC final project approvals, and the dual use incentive structure to develop solar on farmlands 2009 - 2019 2020 - 2023 Solar Industry Solar market growth is driven by aggressive public policy and new market entrants New Jersey solar market expansion driven by favorable regulatory construct and SREC subsidy program Short development cycles: acquired “shovel-ready” projects in New Jersey from distribution partners Grew portfolio to over 350MW of installed capacity Expanding solar footprint both within New Jersey and in neighboring states, with an initial focus on the Northeast Leverage scale and operating experience to manage assts efficiently Enhancing development capabilities through direct insourcing, building internal expertise and greenfield efforts Long-term Fundamentals Remain Strong Broader climate goals support continued investment across the solar market Creating a Broader Opportunity Set for Projects Rapid Industry Growth Strategic Shift / Near-Term Delays / Regulatory Lag Nascent market Benefitted from early-mover advantage

Over $1B of investment to dateUnlevered returns in the mid-high single digits Installed Capacity of 371MW Plus… CEV: Robust Pipeline in Solar Taking Advantage of a Considerable Decarbonization Opportunity Pipeline of~680 MW 605MWUnder Contract or Exclusivity 75MWUnder Construction MWs Total of 1.1 GW

$11.8M 2Q Fiscal 2022 8-13% Clean Energy Ventures 8.9MW Milburn, NJ Floating Solar Array CEV Revenue New Project Innovation(Under Construction) 25.6MWMt. Olive, NJ 25.6-MW solar project, located in Mount Olive, New Jersey, transforms the former Combe Fill North Landfill Superfund site, into an income-generating, clean energy producing asset. The Mt. Olive Solar Field will provide clean power for over 4,000 homes. With the completion of an 8.9MW facility in 2022, CEV will have developed the two largest floating solar arrays in the United States. Pictured above is the 4.4-MW floating solar system in Sayreville, New Jersey, the first in the state. SRECs* TRECs Electricity Sales Sunlight Advantage * 100% of SREC revenues for fiscal 2022 and 98% of SREC revenues for fiscal 2023 are secured through our SREC hedging program ** Total change in PP&E (cash spent and capex accrued) FY 2022E Capital Expenditures** FY 2022E: $139 – 157M FYTD Commercial Capex FYTD Residential Capex Q3 – Q4 Capex Current New Jersey policy transition and interconnect delays at PJM are temporarily slowing our ability to deploy capital and will delay our in-service timeline for fiscal year 2022

Project OverviewNorth zone: operational at acquisition – 600,000 Dth/d South zone: oil conversion and expansion; adding compression, laterals and interconnects – 250,000 Dth/d Project Updates 90% of total construction completed; expect completion by end of the yearNearly fully contractedTETCO Quakertown Interconnect, South Mainline, Tilghman Lateral and PECO metering stations recently placed into serviceNow flowing gas to South Zone Allows Kimberly Clark, in the Philadelphia metro area, to replace coal power generation with natural gas Storage and Transportation: Adelphia Gateway South Zone Conversion and Expansion Project Martin’s Creek Booster Compression Texas Eastern Sherry Lane LateralUGI Easton Road Interconnect In-serviceNew In-ServiceConstruction Ongoing Since 2/3/2022 Quakertown Compressor Station TETCO Quakertown Interconnect South Mainline(oil to natural gas conversion) Tilghman Lateral and PECO Interconnect Parkway Lateral & Columbia Interconnect Marcus Hook Compressor Station Transco Meter Station North Mainline

Financial ReviewRoberto BelSVP & Chief Financial Officer 10

NJR Review of Fiscal 2Q22 NFE Changes * A reconciliation of these non-GAAP measures can be found in the Appendix ($ in Millions) Fiscal 2Q21 – Consolidated NFE ($ in millions) $ 170.6 NJNG $ 22.2 Utility Gross Margin* $ 44.4 O&M $ (0.1) Depreciation & Amortization (D&A) $ (3.9) Interest expense, AFUDC, Income Tax $ (18.2) Clean Energy Ventures $ 2.4 Revenue $ 5.4 O&M $ (1.0) D&A, Interest Expense and Other $ (2.0) Storage & Transportation $ (0.1) Operating Income $ (1.0) Equity in Earnings of Affiliates $ (2.1) Other $ 3.0 Energy Services $ (66.6) Financial Margin* $ (111.3) Interest Expense, Income Tax and Other $ 44.7 Home Services and Other $ 1.7 Revenues $ 0.4 Other $ 1.3 Fiscal 2Q22 – Consolidated NFE ($ in millions) $ 130.2

NJR CEV – SREC Hedging Strategy Stabilizes Revenue Based on Energy Year, as of April 25, 2022 Percent Hedged Average Price Current Price (EY) 98% $201 $238 Percent Hedged Average Price Current Price (EY) 99% $203 $227 Percent Hedged Average Price Current Price (EY) 95% $197 $215 Percent Hedged Average Price Current Price (EY) 81% $189 $196 Percent Hedged Average Price Current Price (EY) 29% $173 $180 Note: Energy Years run from June 1 of the prior year to May 31 of the respective year; for example, Energy Year 2022 begins on June 1, 2021, and ends on May 31, 2022

NJR Capital Plan1 ($ in Millions) 1Q FY2022A 2Q FY2022A YTDFY2022A FY2021A FY2022E FY2023E Near Real Time Return? New Jersey Natural Gas New Customer $12 $11 $23 $65 $52 - $56 $54 - $58 Yes Maintenance & Integrity $27 $16 $49 $252 $125 - $140 $114 - $118 Cost of Removal / Other $9 $18 $21 $66 $34 - $38 $36 - $40 Facilities $1 $2 $3 $63 $8 - $10 $26 - $30 IT $4 $9 $13 $9 $42 - $52 $60 - $64 IIP $6 $4 $10 $9 $24 - $28 $32 - $36 Yes RNG & P2G $1 - $1 $5 $1 - $1 $35 - $39 SAVEGREEN $13 $11 $24 $31 $48 - $52 $48 - $52 Yes $73 $71 $144 $499 $334 - $377 $405 - $437 Clean Energy Ventures Sunlight Advantage $2 $4 $6 $11 $14 - $17 $14 - $18 Commercial Solar $30 $32 $62 $78 $125 - $140 $110 - $250 $32 $36 $68 $89 $139 - $157 $124 - $268 Storage and Transportation Adelphia Gateway $51 $38 $89 $113 $115 - $130 $5 - $10 Leaf River $6 $4 $10 $11 $7 - $11 $3 - $7 $57 $42 $99 $124 $122 - $141 $8 - $17 Total $162 $149 $311 $712 $595 - $675 $537 - $722 1Total change in PP&E (cash spent, capex accrued and AFUDC). For GAAP purposes, SAVEGREEN investments are included as part of cash flows from operations

NJR Projected Cash Flows ($ in Millions) FY2021A FY2022E FY2023E Cash Flow from Operations $391 $265 - $285 $430 - $450 Uses of Funds Capital Expenditures1 $625 $534 - $610 $481 - $658 Dividends2 $117 $127 - $132 $135 - $140 Total Uses of Funds $742 $661 - $742 $628 - $736 Financing Activities Common Stock Proceeds – DRIP $15 - - - - Debt Proceeds/Other $336 $396 - $457 $198 - $286 Total Financing Activities $351 $396 - $457 $198 - $286 1- Excludes accrual for AFUDC and SAVEGREEN investments (for GAAP purposes, SAVEGREEN investments are included in Cash Flow from Operations)2- Dividend growth for fiscal 2023 are based upon the midpoint of forecasted 7-9% growth rate

Key TakeawaysSecond Quarter 2022 Raised guidance for FY 2022 due to better-than-expected performance from Energy Services Adelphia Gateway is flowing gas to South Zone: allows substitution of coal power generation. Expect to complete construction by end of FY 2022 Solar project pipeline exceeds 680 MWs of projects under contract, construction or exclusivity 15 Maintain long-term NFE growth estimates despite any short-term delays in solar in-service timeline Strong NFE performance at New Jersey Natural Gas

Appendix Leadership and Board of Directors Reconciliation of NFE and NFEPS to Net Income for Q2 Fiscal 2022 Reconciliation of Non-GAAP Measures Corporate and Equity Information Second Quarter Fiscal 2022 NFE by Business Unit Revenue Recognition for AMAs NJR CEV – SREC Hedging by Fiscal Year Raising FY 2022 NFE Guidance to $2.30 - $2.40 Per Share Investor Value Proposition Review of Fiscal YTD NFE Changes 16

Second Quarter Fiscal 2022 NFE by Business Unit ($ in 000s) (Thousands) Three Months Ended March 31, Six Months Ended March 31, 2022 2021 Change 2022 2021 Change New Jersey Natural Gas $102,783 $80,541 $22,242 $153,863 $130,008 $23,855 Clean Energy Ventures (6,491) (8,872) $2,381 $(13,312) $(19,146) $5,834 Storage and Transportation 4,625 4,711 $(86) $7,587 $8,219 $(632) Energy Services 29,940 96,528 $(66,588) $47,507 $98,028 $(50,521) Home Services and Other (651) (2,304) $1,653 331 (1,848) $2,179 Total $130,206 $170,604 $(40,398) $195,976 $215,261 $(19,285) NFEPS $1.36 $1.77 $(0.41) $2.04 $2.24 $(0.20)

Reconciliation of NFE and NFEPS to Net Income ($ in 000s) NFE is a measure of earnings based on eliminating timing differences surrounding the recognition of certain gains and losses and the impairment of NJR’s investment in the PennEast project, net of applicable tax adjustments, to effectively match the earnings effects of the economic hedges with the physical sale of natural gas, SRECs and foreign currency contractsNFE eliminates the impact of volatility to GAAP earnings associated with unrealized gains and losses on derivative instruments in the current period (Unaudited) Three Months Ended Six Months Ended March 31, March 31, 2022 2021 2022 2021 NEW JERSEY RESOURCES A reconciliation of net income, the closest GAAP financial measure, to net financial earnings is as follows: Net income $ 96,035 $ 149,809 $ 207,347 $ 230,854 Add: Unrealized loss (gain) on derivative instruments and related transactions 42,022 29,255 (40,169) (8,235) Tax effect (9,980) (6,954) 9,556 1,958 Effects of economic hedging related to natural gas inventory 1,155 (7,209) 24,732 (14,741) Tax effect (274) 1,713 (5,877) 3,503 Net income to NFE tax adjustment 1,248 3,990 387 1,922 Net financial earnings $ 130,206 $ 170,604 $ 195,976 $ 215,261 Weighted Average Shares Outstanding Basic 96,068 96,248 96,006 96,181 Diluted 96,516 96,618 96,480 96,598 A reconciliation of basic earnings per share, the closest GAAP financial measure, to basic net financial earnings per share is as follows: Basic earnings per share $ 1.00 $ 1.56 $ 2.16 $ 2.40 Add: Unrealized loss (gain) on derivative instruments and related transactions $ 0.44 $ 0.30 $ (0.42) $ (0.09) Tax effect $ (0.10) $ (0.08) $ 0.10 $ 0.02 Effects of economic hedging related to natural gas inventory $ 0.01 $ (0.07) $ 0.26 $ (0.15) Tax effect $ — $ 0.02 $ (0.06) $ 0.04 Net income to NFE tax adjustment $ 0.01 $ 0.04 $ — $ 0.02 Basic NFE per share $ 1.36 $ 1.77 $ 2.04 $ 2.24

Other Reconciliation of Non-GAAP Measures ($ in 000s) NJNG Utility Gross MarginNJNG's utility gross margin is defined as operating revenues less natural gas purchases, sales tax, and regulatory rider expenses. This measure differs from gross margin as presented on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization. Energy Services Financial MarginFinancial margin removes the timing differences associated with certain derivative and hedging transactions. Financial margin differs from gross margin as defined on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization expenses as well as the effects of derivatives instruments on earnings. (Unaudited) Three Months Ended Six Months Ended March 31, March 31, 2022 2021 2022 2021 A reconciliation of gross margin, the closest GAAP financial measurement, to utility gross margin is as follows: Operating revenues $ 463,812 $ 310,167 $ 738,584 $ 505,896 Less: Natural gas purchases 215,223 118,452 339,817 177,761 Operating and maintenance (1) 26,748 26,281 39,889 51,106 Regulatory rider expense 30,910 18,413 47,581 29,114 Depreciation and amortization 23,344 19,475 46,237 38,644 Gross margin 167,587 127,546 265,060 209,271 Add: Operating and maintenance (1) 26,748 26,281 39,889 51,106 Depreciation and amortization 23,344 19,475 46,237 38,644 Utility gross margin $ 217,679 $ 173,302 $ 351,186 $ 299,021 A reconciliation of gross margin, the closest GAAP financial measurement, to financial margin is as follows: Operating revenues $ 412,645 $ 462,569 $ 781,889 $ 692,046 Less: Natural Gas purchases 411,146 330,280 689,833 504,117 Operating and maintenance (1) 3,978 20,924 7,247 24,608 Depreciation and amortization 32 13 60 55 Gross margin (2,511) 111,352 84,749 163,266 Add: Operating and maintenance (1) 3,978 20,924 7,247 24,608 Depreciation and amortization 32 13 60 55 transactions 40,446 29,348 (45,201) (9,433) Effects of economic hedging related to natural gas inventory 1,155 (7,209) 24,732 (14,741) Financial margin $ 43,100 $ 154,428 $ 71,587 $ 163,755 (1) Excludes certain selling, general and administrative expenses

Review of Fiscal 2022 YTD NFE Changes * A reconciliation of these non-GAAP measures can be found in the Appendix ($ in Millions) YTD Fiscal 2021 – Consolidated NFE ($ in millions) $ 215.3 NJNG $ 23.9 Utility Gross Margin* $ 52.2 O&M $ 7.1 Depreciation & Amortization (D&A) $ (7.6) Interest expense, AFUDC, Income Tax $ (27.8) Clean Energy Ventures $ 5.8 Revenue $ 9.2 O&M $ (0.7) D&A, Interest Expense and Other $ (2.7) Storage & Transportation $ (0.6) Operating Income $ (2.8) Equity in Earnings of Affiliates $ (4.3) Other $ 6.5 Energy Services $ (50.5) Financial Margin* $ (111.3) Interest Expense, Income Tax and Other $ 60.8 Home Services and Other $ 2.1 Revenues $ 1.8 Other $ 0.3 YTD Fiscal 2022 – Consolidated NFE ($ in millions) $ 196.0

Raising FY 2022 NFE Guidance to $2.30 - $2.40 Per Share FY2022E NJNG 60%-62% CEV 17%-20% S&T 5%-8% ES* 13%-15% HS & Other ~0%-1% FY2022 Expected NJNG Utility Gross Margin Distribution FY2022 Expected CEV Revenue Distribution NFE Expected Segment Contributions Q1E~27% Q2E~43% Q3E~17% Q4E~13% FY2022 Expected ES Financial Margin Distribution Q1E~8% Q2E~9% Q3E~8% Q4E~75% Q1E~47% Q2E~72% Q3E(~11%) Q4E(~8%) * Forecasted NFE projection for remainder of fiscal 2022 only considers contributions from AMA

NJR CEV – SREC Hedging by Fiscal Year As of April 25, 2022 Percent Hedged Average Price Current Price (FY) 100% $203 $235 Percent Hedged Average Price Current Price (FY) 98% $201 $223 Percent Hedged Average Price Current Price (FY) 91% $193 $208 Percent Hedged Average Price Current Price (FY) 58% $190 $191 Percent Hedged Average Price Current Price (EY) 29% $173 $180

Revenue Recognition for AMAs The Transaction: AMAs feature initial and permanent capacity releases with cash payments throughout The Accounting: ASC 606 revenue recognition standard requires that revenue be allocated to both the initial and permanent releases The Result: Disproportionate value is allocated to the permanent release periods in FY 2024 and FY 2032 Revenue Recognition* Cash Fiscal Years 2022 – 2024 $239 $261 Fiscal Years 2025 – 2031 $138 $240 Fiscal Year 2032 $124 $0 $262 $240 Total $501 $501 * Revenue recognition for FY2022 is expected to be $53.1 million, of which $22.1 million was recognized in fiscal Q1 2022 and $10.3M recognized in fiscal Q2 2022. Additionally, in fiscal Q1 2022, NJR received this year’s cash payment of $86.8 million. ($ in Millions)

Investor Value Proposition ~3% Dividend Yield1 7%-9% Long-term NFE Growth ~10%-12% Total Shareholder Return 1Based on dividend per share of $1.45 and closing share price of $43.83 on 5/3/2022

Leadership and Board of Directors Executive Officers Directors Patrick MigliaccioSenior Vice President and Chief Operating OfficerNew Jersey Natural GasAmanda MullanSenior Vice President and Chief Human Resources OfficerNew Jersey ResourcesRobert PohlmanVice President - Strategy, Communications, Government Relations and PolicyRichard ReichSenior Vice President, General Counseland Corporate Secretary, New Jersey ResourcesGinger P. RichmanVice PresidentNJR Midstream ServicesKraig SandersVice President - OperationsNew Jersey Natural GasDaniel SergottTreasurerNew Jersey ResourcesJacqueline K. SheaVice President and Chief Information OfficerNew Jersey ResourcesMark F. ValoriVice PresidentNJR Clean Energy VenturesJohn B. WyckoffVice President - Energy DeliveryNew Jersey Natural Gas * Independent Directors** Chairman of the Board Stephen D. WesthovenPresident and Chief Executive OfficerNew Jersey ResourcesSean AnnittoVice PresidentNJR Energy ServicesRoberto BelSenior Vice President and Chief Financial OfficerNew Jersey ResourcesJohn Bremner Vice President – NJR MidstreamNew Jersey ResourcesAmy CradicSenior Vice President and Chief Operating Officer of Non-Utility Businesses, Strategy and External AffairsNew Jersey ResourcesDavid JohnsonVice President – Corporate Business DevelopmentNew Jersey ResourcesMark G. KahrerSenior Vice President – Regulatory Affairs, Marketing and Energy EfficiencyNew Jersey Natural GasJames KentVice President – Corporate Risk ManagementNew Jersey ResourcesThomas J. Massaro Jr.Senior Vice President – NJR RetailPresident – NJR Home Services Gregory E. Aliff*Partner, Deloitte & Touche LLP (Retired)Donald L. Correll*,**President and CEO (Retired), American WaterJames H. DeGraffenreidt Jr.*Chairman and CEO, WGL Holdings, Inc. (Retired)Robert B. Evans*President and CEO, Duke Energy Americas (Retired)M. Susan Hardwick*President and CEO of American Water Works Company, Inc.Jane M. Kenny*SVP and Managing Director, The Whitman Strategy GroupThomas C. O'Connor*Chairman, President and CEO, DCP Midstream, LLC (Retired)Sharon C. Taylor*SVP, Human Resources, Prudential Financial (Retired)David A. Trice*President and CEO (Retired), Newfield Exploration CompanyStephen D. WesthovenPresident and CEO, NJRGeorge R. Zoffinger*President and CEO, Constellation Capital Corporation

Shareholder and Contact Information 1415 Wyckoff RoadWall, NJ 07719(732) 938-1000www.njresources.com Corporate Headquarters Contact Information The Transfer Agent and Registrar for the company’s common stock is Broadridge Corporate Issuer Solutions, Inc. (Broadridge).Shareowners with questions about account activity should contact Broadridge investor relations representatives between 9 a.m. and 6 p.m. ET, Monday through Friday, by calling toll-free 800-817-3955.General written inquiries and address changes may be sent to:Broadridge Corporate Issuer SolutionsP.O. Box 1342, Brentwood, NY 11717orFor certified and overnight delivery:Broadridge Corporate Issuer Solutions, ATTN: IWS 1155 Long Island Avenue, Edgewood, NY 11717Shareowners can view their account information online atshareholder.broadridge.com/NJR. Stock Transfer Agent and Registrar Dennis Puma – Director, Investor Relations 732-938-1229dpuma@njresources.comAdam Prior – Director, Investor Relations 732-938-1145aprior@njresources.com Last Four Dividends as of May 2022 (Quarterly Frequency) Ex-Dividend Date Record Date Payable Date Amount per share 06/14/2022 6/15/2022 7/1/2022 $0.3625* 3/15/2022 3/16/2022 4/1/2022 $0.3625 12/14/2021 12/15/2021 1/3/2022 $0.3625 9/17/2021 9/20/2021 10/01/2021 $0.3625 * Declared on April 20, 2022