SJW Group Investor Presentation — October 2023

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Financial Results Presentation

and CEOAndrew Walters

Chief Financial Officer

and Treasurer Forward -Looking Statements

This presentation contains forward -looking statements within the

meaning of the Private Securities Litigation Reform Act of 1995, as

amended. Some of these forward -looking statements can be

identified by the use of forward -looking words such as “believes,”

“expects,” “estimates,” “anticipates,” “intends,” “seeks,” “plans,” “projects,” “may,” “should,” “will,” or the negative of those words or other comparable terminology. These forward looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict.

These forward -looking statements involve a number of risks,

uncertainties and assumptions including, but not limited to, the

following factors: (1) the effect of water, utility, environmental and other governmental policies and regulations, including regulatory actions concerning rates, authorized return on equity, authorized capital structures, capital expenditures, PFAS and other decisions; (2) changes in demand for water and other services; (3) unanticipated weather conditions and changes in seasonality including those affecting water supply and customer usage; (4) the effect of the impact of climate change; (5) unexpected costs, charges or expenses; (6) our ability to successfully evaluate investments in new business and growth initiatives; (7) contamination of our water supplies and damage or failure of our water equipment and infrastructure; (8) the risk of work stoppages, strikes and other labor -

3(9) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber -attacks, epidemic, or similar occurrences; (10) changes in

general economic, political, business and financial market conditions;

(11) the ability to obtain financing on favorable terms, which can be

affected by various factors, including credit ratings, changes in

interest rates, compliance with regulatory requirements, compliance with the terms and conditions of our outstanding indebtedness, and general market and economic conditions; and (12) legislative, and

general market and economic developments. The risks, uncertainties

and other factors may cause the actual results, performance or achievements of SJW Group to be materially different from any future results, performance or achievements expressed or implied by such

forward -looking statements.

Results for a quarter are not indicative of results for a full year due to

seasonality and other factors. Other factors that may cause actual results, performance or achievements to materially differ are