Fiscal 2026 Third Quarter and Year-to-Date Financial Results August 2026 Investor Presentation

Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This 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 expectations regarding 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 earnings presentation include, but are not limited to, statements regarding NJR’s NFEPS guidance for fiscal 2026, including NFEPS guidance by Segment, long-term growth targets and guidance range and anticipated drivers of such growth targets, long-term annual growth projections and targets, our CIP, IIP and SAVEGREEN programs, NFEPS expectations from utility operations, Capital Plan expectations, the inclusion of our 5-year capital expenditure projections through 2030, our credit metrics, projections of dividend and financing activities, customer growth at NJNG, future NJR and NJNG capital expenditures, potential CEV capital projects, project pipeline, changes to tax laws and regulations, including those changes brought about by the passage of the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act, total shareholder return projections, dividend growth, CEV revenue and service projections, our debt repayment schedule, contributions from Leaf River as well as its potential cavern expansion, Steckman Ridge and Adelphia Gateway, SREC Hedging and long option strategies and Asset Management Agreements, our Energy Efficiency Expansion as approved by the BPU, our current and future base rate cases, our solar project pipeline and commercial solar growth goals, emissions reduction strategies and clean energy goals, changing interest rates, and other legal and regulatory expectations, and statements that include other projections, predictions, expectations or beliefs about future events or results or otherwise are not statements of historical fact. 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 new information future events or otherwise, except as required by law. Non-GAAP Measures This presentation includes the non-GAAP financial measures NFE/net financial loss, NFE per basic share, financial margin, utility gross margin, adjusted funds from operations, adjusted debt, and adjusted EBITDA. 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 in the appendix to this presentation. 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, 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 [expenses] 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. Adjusted funds from operations is cash flows from operating activities, plus components of working capital, cash paid for interest (net of amounts capitalized), capitalized interest, the incremental change in SAVEGREEN loans, grants, rebates, and related investments, and operating lease expense. Adjusted debt is total long-term and short-term debt, net of cash and cash equivalents, excluding solar asset financing obligations but including solar contractually committed payments for sale lease-backs, debt issuance costs, and other Fitch credit metric adjustments. Adjusted EBITDA is earnings, including equity in earnings of affiliates, before interest, income taxes, depreciation and amortization, and Other Income, net, which includes non-cash earnings of AFUDC from our wholly owned subsidiaries Leaf River and Adelphia Gateway. Management uses NFE/net financial loss, utility gross margin, financial margin, adjusted funds from operations and adjusted debt 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. In addition, in making forecasts relating to S&T’s Adjusted EBITDA and adjusted funds from operations and adjusted debt, management is aware that there could be differences between reported GAAP earnings, cash flows from operations and total long-term and short-term debt due to matters such as, but not limited to, the unpredictability and variability of future earnings, working capital and cash positions. Management is not able to reasonably estimate the aggregate impact or significance of these items on reported GAAP measures and therefore is not able to provide a reconciliation to the corresponding GAAP equivalent for such forecasts 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 and, we have provided presentations of the most directly comparable GAAP financial measure and a reconciliation of our non-GAAP financial measures, NFE/net financial loss, utility gross margin, financial margin, adjusted funds from operations, adjusted debt, and adjusted EBITDA to the most directly comparable GAAP financial measures, in the appendix to this presentation. This information has been provided pursuant to the requirements of SEC Regulation G.

Contents Fiscal 2026 Third Quarter and Year-to-Date Conference Call 4 Agenda 5 NJR: Key Highlights 6 NJNG: Delivering Customer Savings + Investing in Reliability 7 S&T: Short and Long-Term Growth Drivers 8 CEV: Project Pipeline 9 Financial Review and Outlook 10 Fiscal 2026 Third Quarter and Year-to-Date Financial Highlights 11 Review of Fiscal 2026 Third Quarter and Year-to-Date Results 12 Capital Investment (CAPEX): Increased FY 2026 from Last Quarter 13 Strong Credit Metrics 14 Fiscal 2026: NFEPS Guidance and Segment % 15 7-9% NFEPS Growth Rate Supported by Complementary Businesses 16 Appendix: Financial Statements and Additional Information 17 Fiscal 2026 Third Quarter and Year-to-Date NFE and NFEPS by Business Unit 18 Reconciliation of NFE and NFEPS to Net Income 19 Other Reconciliation of Non-GAAP Measures 20 Reconciliation of Adjusted Funds from Operations to Cash Flow from Operations 21 Capital Plan Table 22 Cash Flows Table 23 Debt Repayment Schedule 24 NJR: Complementary Energy Infrastructure Platform 25 NJR: Business Portfolio 26 NJR: Dividend Raised for 30 Consecutive Years 27 NJR: Drivers of Long-Term Growth Rate of 7-9% 28 NJNG: Customer Growth and Expanded Franchise Opportunities 29 NJNG: Growing Rate Base Expected in the 7-9% Range 30 S&T: Storage Becomes a Key Value Driver as Pipeline Capacity Tightens 31 S&T: Transportation Infrastructure Drives Value in a Constrained Market 32 S&T: Adjusted EBITDA 33 CEV: Diverse Commercial Solar Portfolio 34 CEV: “Utility Like” Revenue Stack with Optionality 35 Energy Services: Overview 36 Energy Services: Strong NFE Contribution 37 Energy Services: Asset Management Agreements 38 Home Services (NJRHS) 39 Shareholder and Online Information

Overview Steve Westhoven, President and CEO Financial Highlights and Outlook Roberto Bel | SVP and CFO Conclusion Steve Westhoven, President and CEO Q&A Session Agenda NJR At a Glance Corporate Information Ticker NYSE: NJR Corporate Headquarters Wall, NJ Incorporated New Jersey Website www.njresources.com IPO 1982 NJR Business Units (abbreviation) New Jersey Natural Gas NJNG Clean Energy Ventures CEV Storage & Transportation S&T Energy Services NJRES Home Services NJRHS Share Information Share Price $57.89 Shares Outstanding 101.4M Market Cap $5.7B Dividend Information Annual Dividend $1.90 Dividend Yield 3.3% All daily trading information as of 7/31/2026

NJR: Key Highlights Raises FY 2026 CAPEX Range by $40 Million ($815M to $950M) NJNG Received FERC Certificate on Leaf River Expansion Ahead of Schedule S&T Regulatory Filings Aimed at Addressing Affordability for Customers with Critical Infrastructure Recovery CEV Added ~58MW of In-Service Capacity YTD Tightens FY 2026 NFEPS Guidance Range to $3.52 - $3.62

NJNG: Delivering Customer Savings + Investing in Reliability June 1st filings with the NJBPU* expected to lower natural gas bills this upcoming winter heating season while advancing review for rate recovery of critical reliability investments Rate Case Filing Customer Savings in Advance of 2026 Winter Season Delivering ~9% bill reduction ahead of the 2026-2027 winter heating season Total savings for the upcoming winter is approximately $98 million ~$158/year in annual bill relief for the average residential customer Bills expected to remain nearly flat compared to present amounts after implementation Requested an increase to base rates of $157.6 million to recover reliability and safety upgrades Proposed Rate Base of $4.0 Billion BPU review of base rate filings typically takes between 9 - 12 months Press Release Link: NEW JERSEY NATURAL GAS SUBMITS FILINGS TO NJBPU FOR CUSTOMER SAVINGS AND FUTURE RECOVERY OF RELIABILITY INVESTMENTS White Paper Link: 2026 Rate Case Filing Information * NJBPU - New Jersey Board of Public Utilities

S&T: Short- and Long-Term Growth Drivers Expected Construction Timeline Continues as Planned Leaf River Expansion Plans Expansion of Existing Cavern Locations Executed a long-term agreement for this capacity Planned New Cavern July 2026: Receives FERC Certificate S&T NFE on Track to More Than Double from 2025 to 2027 Due to Favorable Re-Contracting at Adelphia and Leaf River (from $18.5 Million to Estimated $42 - $47 Million; FY 2026 YTD: $24 million) Short Term: Next 2 Years Long-Term Growth: 3 years+ Available Working Gas Capacity (BCF) Leaf River has Multiple Sites for Potential Organic Cavern Expansion Beyond this 55 BCF

CEV: Project Pipeline CEV Owns and Operates Solar Projects with Approximately 537MW of In-Service Commercial Solar Capacity MWs 1.1 GW ~3X of Capital Plan Targets Through 2030* * Solar Projects Under Construction, Contract or Exclusivity Capacity expected to grow over 50% from 2025 - 2027 1 From 9/30/2025 to 9/30/2027 ~2501 ~58MW Placed In-Service YTD Fiscal 2026 In-Service Capacity All MWs noted in DC Project Pipeline of Solar Investment Opportunities

9 Financial Review and Outlook

Fiscal 2026 Third Quarter and Year-to-Date Financial Highlights Strong Performance Improved Outlook Distinct Growth Drivers $0.11 Fiscal 2026 Third Quarter NFEPS $3.48 Fiscal 2026 YTD NFEPS Tightens Fiscal 2026 NFEPS Guidance to $3.52 to $3.62 (Midpoint $3.57) from $3.48 to $3.63 (Midpoint $3.55) New Jersey Natural Gas Rate Base Growth Customer Growth Energy Efficiency S&T Recontracting Expansion at Leaf River CEV $1.2B Project Pipeline New Technology Investments

Fiscal 2025 YTD – Consolidated NFE ($ in millions) $ 313.4 NJNG $ 16.9 Utility Gross Margin1 $ 41.0 Depreciation & Amortization (D&A) $ (11.1) Interest Expense, O&M, AFUDC and Income Tax $ (13.0) Clean Energy Ventures $ (33.3) Revenue $ 14.5 D&A and Interest Expense $ (10.6) Gain on Sale of Assets $ (56.1) Other (including ITC recognition) $ 18.9 Storage & Transportation $ 9.9 Revenue $ 9.8 D&A and Interest Expense $ 3.3 AFUDC & Other $ (3.2) Energy Services $ 45.1 Financial Margin1 $ 60.5 Interest Expense, Income Tax and Other $ (15.4) Home Services and Other $ (1.2) Fiscal 2026 YTD – Consolidated NFE ($ in millions)2 $ 350.9 Fiscal 3Q25 – Consolidated NFE ($ in millions) $ 6.2 NJNG $ (4.0) Utility Gross Margin1 $ 5.7 Depreciation & Amortization (D&A) $ (4.4) Interest Expense, O&M, AFUDC, Income Tax $ (5.3) Clean Energy Ventures $ 6.5 Revenue $ 7.1 D&A and Interest Expense $ (4.1) Gain on Sale of Assets $ (0.5) Other (including ITC recognition) $ 4.1 Storage & Transportation $ 2.9 Revenue $ 4.3 D&A and Interest Expense $ — O&M, AFUDC & Other $ (1.4) Energy Services $ (0.3) Financial Margin1 $ 1.2 Interest Expense, Income Tax and Other $ (1.5) Home Services and Other $ — Fiscal 3Q26 – Consolidated NFE ($ in millions)2 $ 11.3 A reconciliation of these non-GAAP measures can be found in the Appendix. The sum of actual amounts may not equal to total due to rounding. Review of Fiscal 2026 Third Quarter and Year-to-Date Results1 ($ in Millions) Fiscal Third Quarter Fiscal Year-to-Date

Capital Investment1 (CAPEX): Increased FY 2026 from Last Quarter Increased FY 2026 CAPEX Range $815 - $950 Actuals $4.8 - $5.2B Through 2030 $870 - $1.0B NJNG Expected to Represent Over 60% of Capital Investment $45 - $60 $60 - $75 $210 - $290 $270 -$370 $560 - $600 $540 -$600 $630M $850M ($ in Millions) The sum of actual amounts may not equal due to rounding. $644M Estimates

No Block Equity Needs Cash Flow from Operations of $1.1B - $1.2B in FY 2026 and FY 2027 Staggered Debt Maturity Stack Substantial liquidity at both NJNG and NJR $825M of credit facilities available through FY 2029 Strong Credit Metrics Adjusted FFO / Adjusted Debt NJNG (Secured Rating) NJR (Unsecured Rating) NAIC NAIC-1.E NAIC-2.A Moody's A1 (Stable) Fitch A+ (Stable) Internal estimates based on Fitch Ratings methodology. Ratio represents inverse of FFO-adjusted leverage ratio. A reconciliation from adjusted funds from operations to cash flows from operating activities and adjusted debt to long-term and short-term debt can be found in the Appendix. Adjusted funds from operations is cash flows from operating activities, plus components of working capital, cash paid for interest (net of amounts capitalized), capitalized interest, the incremental change in SAVEGREEN loans, grants, rebates, and related investments, and operating lease expense. Adjusted debt is total long-term and short-term debt, net of cash and cash equivalents, excluding solar asset financing obligations but including solar contractually committed payments for sale lease-backs, debt issuance costs, and other Fitch credit metric adjustments. Actuals Estimated 19 - 20% 20 - 22%

Fiscal 2026: NFEPS Guidance and Segment % Net Financial Earnings Per Share $3.52 - $3.62 $2.83 * Our current earnings base represents the midpoint of initial Fiscal 2025 NFEPS guidance, excluding the net impact of the sale of our residential solar assets. Estimated Fiscal 2026 Segment % Utility To Represent ~60% of Earnings Contribution NJNG 59 - 62% S&T 8-11% CEV 10-13% ES 21 - 23% HS 0-1% Strong Contribution from Energy Services During Winter Season Contributed to Outperformance Above 7-9% Stated Growth Rate

7-9% NFEPS Growth Rate Supported by Complementary Businesses Total CAPEX of $4.8 - $5.2 Billion Through FY 2030 Over 60% in Utility Investment No Block Equity NJNG High single digit rate base growth expected through 2030 S&T NFE expected to more than double by 2027 Leaf River capacity expected to grow by over 70% through 2030 CEV Installed capacity expected to grow over 50% from 2025 to 2027

Appendix: Financial Statements and Additional Information 16 17 Fiscal 2026 Third Quarter and Year-to-Date NFE and NFEPS by Business Unit 18 Reconciliation of NFE and NFEPS to Net Income 19 Other Reconciliation of Non-GAAP Measures 20 Reconciliation of Adjusted Funds from Operations to Cash Flow from Operations 21 Capital Plan Table 22 Cash Flows Table 23 Debt Repayment Schedule

Fiscal 2026 Third Quarter and Year-to-Date NFE and NFEPS by Business Unit1 ($ in 000s) Net Financial Earnings (NFE) Net Financial Earnings per Share (NFEPS) (Thousands) Three Months Ended June 30, Nine Months Ended June 30, 2026 2025 Change 2026 2025 Change New Jersey Natural Gas $6,087 $10,079 $(3,992) $238,429 $221,518 $16,911 Clean Energy Ventures $(312) $(6,857) $6,545 $4,055 $37,315 $(33,260) Storage and Transportation $8,762 $5,898 $2,864 $23,833 $13,905 $9,928 Energy Services $(4,035) $(3,734) $(301) $84,531 $39,400 $45,131 Home Services and Other $802 $812 $(10) $92 $1,250 $(1,158) Total $11,304 $6,198 $5,106 $350,940 $313,388 $37,552 Three Months Ended June 30, Nine Months Ended June 30, 2026 2025 Change 2026 2025 Change New Jersey Natural Gas $0.05 $0.10 $(0.05) $2.36 $2.21 $0.15 Clean Energy Ventures $— $(0.06) $0.06 $0.04 $0.38 $(0.34) Storage and Transportation $0.09 $0.05 $0.04 $0.24 $0.14 $0.10 Energy Services $(0.04) $(0.04) $— $0.84 $0.39 $0.45 Home Services and Other $0.01 $0.01 $— $0.00 $0.01 $(0.01) Total $0.11 $0.06 $0.05 $3.48 $3.13 $0.35 1 The sum of actual amounts may not equal due to rounding.

Reconciliation of NFE and NFEPS to Net Income ($ in 000s) NFE is a measure of earnings based on the elimination of timing differences surrounding the recognition of certain gains or losses to effectively match the earnings effects of the economic hedges with the physical sale of natural gas and, therefore, eliminate the impact of volatility to GAAP earnings associated with the derivative instruments. To the extent we utilize forwards, future or other derivatives to hedge natural gas transactions and forecasted SREC production, the resulting unrealized gains and losses are also eliminated from NFE. ES economically hedges its natural gas inventory with financial derivative instruments and calculates the related tax effect based on the statutory rate. NFE also excludes certain transactions associated with equity method investments, including impairment charges, which are non-cash charges, and return of capital in excess of the carrying value of our investment. These are not indicative of the Company's performance for its ongoing operations. Included in the tax effects are current and deferred income tax expense corresponding with the components of NFE. NFE 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 June 30, Nine Months Ended June 30, 2026 2025 2026 2025 NEW JERSEY RESOURCES A reconciliation of net income, the closest GAAP financial measure, to net financial earnings is as follows: Net income (loss) $ 9,689 $ (15,051) $ 351,091 $ 320,555 Add: Unrealized loss (gain) on derivative instruments and related transactions 2,749 10,766 4,460 (10,072) Tax effect (653) (2,559) (1,060) 2,394 Effects of economic hedging related to natural gas inventory (654) 16,924 (4,657) 747 Tax effect 156 (4,022) 1,107 (178) NFE tax adjustment 17 140 (1) (58) Net financial earnings $ 11,304 $ 6,198 $ 350,940 $ 313,388 Weighted Average Shares Outstanding Basic 101,092 100,373 100,881 100,173 Diluted 101,780 100,373 101,526 100,813 A reconciliation of basic earnings per share, the closest GAAP financial measure, to basic net financial earnings per share is as follows: Basic earnings (loss) per share $ 0.10 $ (0.15) $ 3.48 $ 3.20 Add: Unrealized loss (gain) on derivative instruments and related transactions 0.02 0.11 0.04 (0.10) Tax effect — (0.03) (0.01) 0.02 Effects of economic hedging related to natural gas inventory (0.01) 0.17 (0.04) 0.01 Tax effect — (0.04) 0.01 — Basic net financial earnings per share $ 0.11 $ 0.06 $ 3.48 $ 3.13

Other Reconciliation of Non-GAAP Measures NJNG Utility Gross Margin NJNG'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 Margin Financial 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. ($ in 000s) (Unaudited) Three Months Ended Nine Months Ended June 30, June 30, 2026 2025 2026 2025 A reconciliation of gross margin, the closest GAAP financial measurement, to utility gross margin is as follows: Operating revenues $ 201,107 $ 205,029 $ 1,252,405 $ 1,157,439 Less: Natural gas purchases 65,875 74,941 513,166 480,244 Operating and maintenance1 36,854 34,719 96,463 90,238 Regulatory rider expense 10,434 10,979 103,038 81,956 Depreciation and amortization 40,385 35,987 114,854 103,784 Gross margin 47,559 48,403 424,884 401,217 Add: Operating and maintenance1 36,854 34,719 96,463 90,238 Depreciation and amortization 40,385 35,987 114,854 103,784 Utility gross margin $ 124,798 $ 119,109 $ 636,201 $ 595,239 A reconciliation of gross margin, the closest GAAP financial measurement, to financial margin is as follows: Operating revenues $ 79,962 $ 38,850 $ 443,224 $ 371,548 Less: Natural Gas purchases 82,091 67,781 307,803 287,496 Operating and maintenance1 2,841 1,020 15,316 13,482 Depreciation and amortization 41 30 125 139 Gross margin (5,011) (29,981) 119,980 70,431 Add: Operating and maintenance1 2,841 1,020 15,316 13,482 Depreciation and amortization 41 30 125 139 Unrealized loss (gain) on derivative instruments and related transactions 2,749 10,766 4,460 (10,072) Effects of economic hedging related to natural gas inventory (654) 16,924 (4,657) 747 Financial margin $ (34) $ (1,241) $ 135,224 $ 74,727 Excludes selling, general and administrative expenses

Reconciliation of Adjusted Funds from Operations to Cash Flow from Operations Adjusted funds from operations is cash flows from operating activities, plus components of working capital, cash paid for interest (net of amounts capitalized), capitalized interest, the incremental change in SAVEGREEN loans, grants, rebates, and related investments, and other Fitch credit metric adjustments. Adjusted debt is total long-term and short-term debt, net of cash and cash equivalents, excluding capitalized leases, solar asset financing obligations but including solar contractually committed payments for sale lease backs, debt issuance costs. Cash Flow from Operations $577.8 Add back Components of working capital ($6.6) Cash paid for interest (net of amounts capitalized) $108.3 Capitalized Interest $9.6 SAVEGREEN loans, grants, rebates and related investments $78.8 Other adjustments ($1.4) Adjusted FFO (Non-GAAP) $766.5 Long-Term Debt (including current maturities) $3,483.0 Short-Term Debt $220.0 Exclude Cash on Hand ($35.1) CEV Sale-Leaseback Debt ($537.4) Lease adjusted debt ($11.6) Include CEV Sale lease-back Contractual Commitments $355.3 Debt Issuance Costs $13.5 Adjusted Debt (Non-GAAP) $3,487.7 Adjusted Debt, FY2026 YTD (Millions) Adjusted Funds from Operations, FY2026 YTD (Millions)

Capital Plan Table1,2 ($ in Millions) Total change in PP&E (cash spent, CAPEX accrued and AFUDC). For GAAP purposes, SAVEGREEN investments are included as part of cash flows from operations. The sum of actual amounts may not equal due to rounding. Safety and reliability includes system integrity, IT, Cost of Removal, IIP, and other miscellaneous capital investments. Actuals Estimates FY2024A FY2025A FY2026A YTD FY2026E FY2027E Near Real Time Return? New Jersey Natural Gas New Customer $100 $119 $97 $120 - $130 $130 - $140 Yes SAVEGREEN $71 $98 $79 $90 - $100 $90 - $100 Yes Safety and Reliability3 $332 $331 $258 $350 - $370 $320 - $360 $503 $548 $434 $560 - $600 $540 - $600 Clean Energy Ventures $96 $271 $148 $210 - $290 $270 - $370 Storage and Transportation Adelphia Gateway $7 $11 $3 $5 - $10 $5 - $10 Leaf River $39 $19 $45 $40 - $50 $55 - $65 $46 $30 $48 $45 - $60 $60 - $75 Total $644 $850 $630 $815 - $950 $870 - $1,045

The sum of actual amounts may not equal due to rounding. Excludes accrual for AFUDC and SAVEGREEN investments (for GAAP purposes, SAVEGREEN investments are included in Cash Flow from Operations). Cash Flows Used in Investing Activities in fiscal 2025 include $137.2 million in net proceeds from the sale of the residential solar portfolio. Cash Flows Table1 ($ in Millions) Actuals Estimates Operating cash flows are primarily affected by variations in working capital, which can be impacted by several factors, including: seasonality of our business; fluctuations in wholesale natural gas prices and other energy prices, including changes in derivative asset and liability values; timing of storage injections and withdrawals; the deferral and recovery of natural gas costs; changes in contractual assets utilized to optimize margins related to natural gas transactions; broker margin requirements; impact of unusual weather patterns on our wholesale business; timing of the collections of receivables and payments of current liabilities; volumes of natural gas purchased and sold; and and timing of SREC deliveries. FY 2024A FY 2025A YTD FY2026A FY2026E FY2027E Cash Flows from Operations $427 $466 $578 $550 - $590 $540 - $580 Uses of Funds Cash Flows Used in Investing Activities2, 3 $569 $568 $553 $700 - $800 $800 - $900 Dividends $165 $180 $143 $188 - $192 $198 - $202 Total Uses of Funds $734 $748 $696 $888 - $992 $998 - $1,102 Financing Activities Common Stock Proceeds – DRIP $74 $35 $38 $45 - $47 $18 - $20 Debt Proceeds/ (Repayments)/Other $232 $247 $80 $293 - $355 $440 - $502 Total Financing Activities $307 $282 $118 $338 - $402 $458 - $522

Debt Repayment Schedule No Significant Maturity Towers in Any Particular Year Term debt only (excludes short-term debt of $220.0 million, capital leases of $41.2 million and solar financing obligations of $538.0 million). NJR Unsecured Senior Notes FY Maturity Principal 3.54% 2026 $100,000 4.38% 2027 $110,000 3.96% 2028 $100,000 3.29% 2029 $150,000 3.50% 2030 $130,000 3.13% 2031 $120,000 3.60% 2032 $130,000 6.14% 2032 $50,000 3.25% 2033 $80,000 3.64% 2034 $50,000 5.55% 2034 $100,000 Total NJR LT Debt $1,120,000 NJNG First Mortgage Bonds FY Maturity Principal 3.15% 2028 $50,000 5.56% 2033 $50,000 5.49% 2034 $75,000 5.16% 2035 $100,000 4.37% 2037 $50,000 3.38% 2038 $10,500 2.75% 2039 $9,545 3.00% 2041 $46,500 3.50% 2042 $10,300 3.00% 2043 $41,000 4.61% 2044 $55,000 3.66% 2045 $100,000 3.63% 2046 $125,000 4.01% 2048 $125,000 3.76% 2049 $100,000 3.13% 2050 $50,000 3.13% 2050 $50,000 2.87% 2050 $25,000 2.97% 2051 $50,000 4.71% 2052 $50,000 5.47% 2052 $125,000 5.85% 2053 $50,000 5.82% 2054 $125,000 5.85% 2055 $100,000 3.75% 2059 $15,000 3.86% 2059 $85,000 3.33% 2060 $25,000 2.97% 2060 $50,000 3.07% 2061 $50,000 Total NJNG LT Debt $1,797,845 Substantial liquidity at both NJNG and NJR - $825M of credit facilities available through FY2029 Term Debt1 Maturity Schedule as of June 30, 2026 / $ in Millions, unless otherwise noted $1.4B Will Not Re-finance FY 2026 NJR Term Debt due to Strong Cash Generation

Originated from Expertise in Energy Value Chain Clean Energy Ventures (CEV) Flexible Renewable Project Platform Storage and Transportation (S&T) Long-Term Energy Infrastructure Energy Services (ES) Capital-light Cash Generator NJR Home Services (NJRHS) Customer Focused Field Services New Jersey Natural Gas (NJNG) Stable, Regulated Utility Growth NJR: Complementary Energy Infrastructure Platform Predictable Net Financial Earnings and Incremental Organic Growth Opportunities 25 NJR: Business Portfolio 26 NJR: Dividend Raised for 30 Consecutive Years 27 NJR: Drivers of Long-Term Growth Rate of 7-9% 28 NJNG: Customer Growth and Expanded Franchise Opportunities 29 NJNG: Growing Rate Base Expected in the 7-9% Range 30 S&T: Storage Becomes a Key Value Driver as Pipeline Capacity Tightens 31 S&T: Transportation Infrastructure Drives Value in a Constrained Market 32 S&T: Adjusted EBITDA 33 CEV: Diverse Commercial Solar Portfolio 34 CEV: “Utility Like” Revenue Stack with Optionality 35 Energy Services: Overview 36 Energy Services: Strong NFE Contribution 37 Energy Services: Asset Management Agreements 38 Home Services (NJRHS) 39 Shareholder and Online Information

NJR Home Services offers customers home comfort solutions. NJR: Business Portfolio Natural Gas and Renewable Fuel Distribution; Solar Investments; Wholesale Energy Markets; Storage & Transportation Infrastructure; Retail Operations Operates and maintains Natural Gas transportation and distribution infrastructure. New Jersey Natural Gas (NJNG) Clean Energy Ventures (CEV) Storage and Transportation (S&T) Energy Services (ES) NJR Home Services (NJRHS) CEV develops, invests in, owns and operates energy projects that generate clean power and provide low carbon energy solutions. Invests in, owns and operates midstream assets including natural gas pipeline and storage facilities. Provides unregulated, wholesale natural gas to consumers across the Gulf Coast, Eastern Seaboard, Southwest, Mid-continent and Canada. Demonstrated leadership as a premier energy infrastructure and environmentally-forward thinking company

NJR: Dividend Raised for 30 Consecutive Years Committed to Returning Capital to Shareholders Dividend History Dividends per Share Record Date Payable Date Amount Per Share 6/10/2026 7/1/2026 $0.475 3/11/2026 4/1/2026 $0.475 12/12/2025 1/2/2025 $0.475 9/22/2025 10/1/2025 $0.475 6/10/2025 7/01/2025 $0.45 3/11/2025 4/01/2025 $0.45 12/11/2024 1/02/2025 $0.45 9/23/2024 10/01/2024 $0.45 6/12/2024 7/01/2024 $0.42 3/13/2024 4/01/2024 $0.42 12/13/2023 1/02/2024 $0.42 9/20/2023 10/02/2023 $0.42 6/14/2023 7/03/2023 $0.39 3/15/2023 4/03/2023 $0.39 12/14/2022 1/03/2023 $0.39 9/26/2022 10/03/2022 $0.39 6/15/2022 7/01/2022 $0.3625 3/16/2022 4/01/2022 $0.3625 12/15/2021 1/03/2022 $0.3625 9/20/2021 10/01/2021 $0.3625 6/16/2021 7/01/2021 $0.3325 Highlighted Rows Reflect Changes in Quarterly Cash Dividends $1.90 FY 2026 Dividend

NJR: Drivers of Long-Term Growth Rate of 7-9% Highly Visible NFEPS Growth with Potential for Additional Upside, No Block Equity Needs, "Utility-like" Earnings Contribution NJNG CEV S&T Energy Services Improved Utility Gross Margin after Successful Rate Case Continued Customer Growth Energy Efficiency Efforts Drivers of 7-9% Growth Rate Potential Upside Drivers Above 7-9% Contracted REC Revenue High Operational Availability Extensive Project Pipeline Stronger than expected BGSS incentives margin from optimization of supply portfolio Upside from power demand growth Long-term Contracted Capacity Organic Capacity Expansion Projects Successful Recontracting Driven by Improving Storage Market Short-term capacity optimization Stable Cash Flows from AMA Fixed Payments Normalized Contribution from "Long-Option" Strategy (Does not consider potential positive impacts from significant weather events.) Natural gas price volatility due to weather events

NJNG: Customer Growth Core territories of Monmouth, Ocean, and Morris Counties (smaller customer totals in Middlesex, Sussex and Burlington Counties) 594,646 Total Customers 6 Counties Across New Jersey NJNG Total Customers (in 000s) ~630 - 640 YTD As of 6/30 At September 30

NJNG: Future Rate Base Growth Expected in the 7-9% Range Expanding Rate Base Growth Through 2030 History of Consistent Rate Case Outcomes Additional Investments from Energy Efficiency Investments (SAVEGREEN) are Incremental to Current Rate Base Figure Last Four Rate Cases $4.7 - $5.2B ($ in B) Rate Base CAGR of ~7 - 9% Reported Record $98 Million of Investment in Fiscal 2025

S&T: Storage Becomes a Key Value Driver as Pipeline Capacity Tightens Leaf River (storage), Steckman Ridge (storage) 32.2 mmdth high deliverability salt cavern storage facility in southeastern Mississippi Acquired October 2019 100% owner & operator Serves the fastest growing natural gas market in North America 12.6 mmdth reservoir storage facility in southern PA Placed in service April 2009 50% ownership interest Serving the Northeast Region with a high dependence on storage and increasingly constrained pipeline capacity

S&T: Transportation Infrastructure Drives Value in a Constrained Market Adelphia Gateway (transportation) 93 mile, 0.9 mmdth/d interstate pipeline extending between NE PA basin and the Philadelphia region 100 percent NJR owned/operated - FERC regulated Acquired January 2020 / Placed in-service September 2022 Serving PA power, industrial and SE PA, NJ, DE utility markets

S&T: Adjusted EBITDA Adjusted EBITDA is net income before interest, income taxes, depreciation and amortization, corporate overhead and other income, net. S&T's Net Income (GAAP) $ 23,833 Add Interest expense, net 16,397 Income tax expense 7,515 Depreciation and amortization 15,628 Corporate overhead 7,070 Less: Other Income, net 5,271 Adjusted EBITDA (Non-GAAP) $ 65,172 S&T Reconciliation of Adjusted EBITDA FY2026 YTD ($ in 000s) ($ in M) $95 - $105

CEV: Diverse Commercial Solar Portfolio Diverse and Innovative Commercial Solar Projects Throughout Seven States; Largest Solar Owner-Operator in NJ CEV owns and operates commercial solar projects in New Jersey, Rhode Island, New York, Connecticut, Pennsylvania, Indiana, and Michigan with approximately 537MW of installed capacity Over $1 billion invested in the solar marketplace Over 80 commercial projects in service Changewater Project Placed into Service in Q3 2026 14.85 MW grid-connected project located on brownfield site in Washington Township, Gloucester County, New Jersey

CEV: “Utility Like” Revenue Stack with Optionality Fixed Component Provides Stable Earnings Contribution With High Visibility CEV Revenue YTD Fiscal 2026 Majority of CEV revenue is contracted Fixed Revenue Component Consists of: State sponsored subsidy programs or feed-in Tariff agreements Power Purchase Agreements (PPAs) Monetization of Investment Tax Credits Merchant Power Threshold: High Single-Digit Unlevered IRR + + Option Value Incremental to Initial Investment Decision Emerging Technologies Exploring firming generation throughout solar assets Advancing distributed generation strategy Repowering Maximizing power generation Future Option Value Load to Generation Focus on repositioning existing wholesale assets to support large retail loads (i.e., datacenters) $60.9M

35 35 Energy Services (ES) Operates in key market zones across the U.S., utilizing pipeline and storage assets to create geographic and seasonal optimization opportunities Maintains a long-option position to generate value Capital-light, Fee-based earnings Cash Generating Service Businesses Support Growth of Capital Investment 35

Energy Services: Strong NFE Contribution Managing a Diversified Portfolio of Physical Natural Gas Transportation and Storage Assets to Serve Customers Across North America; Fee-based Revenue through Asset Management Agreements Proven track record of success, leveraging natural gas market volatility to drive value Minimal long-term capital commitments and significant cash generation during outperformance years has significantly reduced NJR equity needs A reconciliation of Financial Margin to Operating Income can be found in the Appendix Strong Energy Service NFE Contribution ($ in Millions) Fiscal 2022 - YTD 2026 included revenue recognition from Asset Management Agreements ES has Reported Positive Financial Margin1 in Every Year Since Inception Max: 2014 - $172.4M Min: 2020 - $9.9M Over $1 billion ($1.6B) of financial margin over last 20 years (average of ~$80 million per year) ($ in Millions)

Energy Services: Asset Management Agreements De-risking transaction for Energy Services business by securing 10 years of contracted cash payments with minimal counterparty credit risk NJR expects to recognize approximately $19.7 million annually in revenues between FY 2025 - FY 2031; recognized ratably across each quarter ($ in Millions)

Home Services (NJRHS) Delivering Home Comfort Solutions Provides residential service contracts for heating, cooling, water heating, electrical and whole home generators Equipment sales and installations, plumbing and electrical services and repairs and indoor air quality products Ruud Top Twenty Pro Partner Contractor for the 9th consecutive year Completed 80,000 service calls and 4,000 HVAC, plumbing and generator installations in Fiscal 2025 Maintains a nearly five-star customer satisfaction rating* * Rating determined by Google. See njrhomeservices.com/reviews for more information. Cash Generating Service Businesses Support Growth of Capital Investment Working Tirelessly to Service Customers During Record Breaking Heat July 2026 Message to Customers

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 Solutions P.O. Box 1342, Brentwood, NY 11717 or For certified and overnight delivery: Broadridge Corporate Issuer Solutions, ATTN: IWS 1155 Long Island Avenue, Edgewood, NY 11717 Shareowners can view their account information online at shareholder.broadridge.com/NJR. Website: www.njresources.com Investor Relations: New Jersey Resources Investor Relations Contact Information Adam Prior Director, Investor Relations 732-938-1145 aprior@njresources.com 1415 Wyckoff Road Wall, NJ 07719 (732) 938-1000 www.njresources.com Corporate Headquarters Online Information Shareholder and Online Information Stock Transfer Agent and Registrar