FY 2023 Third Quarter and YTD Financial Results August 3, 2023 August 2023 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 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 earnings presentation include, but are not limited to, certain statements regarding NJR’s NFEPS guidance for fiscal 2023, including NFEPS guidance by Segment, fiscal 2023 and 2024 long term growth targets and range, long term annual growth projections and targets, Capital Plan expectations for FY 2023 and 2024, projections of dividend and financing activities, customer growth at NJNG, future NJR and NJNG capital expenditures, the Monmouth County Reclamation Center, potential CEV capital projects, announced charitable endowment, project pipeline (under construction, contract or exclusivity) through Fiscal 2027, total expected shareholder return projections, dividend growth, CEV revenue and service projections, SREC Hedging strategies and Asset Management Agreements, the outcome and timing of future Base Rate Cases with the BPU, emissions reduction strategies and clean energy goals, environmental social and governance efforts, outcome of the Inflation Reduction Act, rising interest rates and ITCs, 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 Measures 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 and adjusted debt. 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 certain transactions related to 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. 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. 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 and adjusted debt, 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 FY 2023 Third Quarter and YTD 3 Agenda 4 Fiscal 2023 Third Quarter and Year-to-Date Summary 5 Re-Affirming Fiscal 2023 NFEPS Guidance of $2.62 to $2.72 6 New Jersey Natural Gas 7 Clean Energy Ventures (CEV) 8 Financial Review 9 Review of Fiscal 2023 Q3 and YTD NFE Changes 10 Capital Plan 11 Projected Cash Flows 12 Investment Grade Profile 13 Aligned with New Jersey’s Clean Energy Policy Landscape 14 Key Takeaways: Fiscal 2023 Year-to-Date Appendix: Financial Statements and Additional Information – 15 16 Reconciliation of NFE and NFEPS to Net Income 17 Other Reconciliation of Non-GAAP Measures 18 Reconciliation of Adjusted Funds from Operations to Cash Flow from Operations 19 Fiscal 2023 Third Quarter and YTD NFE by Business Unit 20 Clean Energy Ventures - SREC Hedging Strategy 21 Capital Plan Table 22 Dividend Growth: Committed to Building Shareholder Value 23 Debt Maturities 24 Total Expected Shareholder Return 25 Environmental, Social and Governance Efforts 26 Shareholder and Contact Information

1 Third Quarter FY 2023 HighlightsSteve Westhoven | President and CEO 2 Financial HighlightsRoberto Bel | SVP and CFO 3 Q&A Session FY 2023 Third QuarterConference Call Agenda 3

Fiscal 2023 Third Quarter and Year-to-Date Summary Consistent Performance Throughout All Business Units A reconciliation from NFE to net income can be found in the Appendix. Third Quarter NFEPS1 YTD NFEPS NJNG Strong new customer growth Named one of Cogent Syndicated 2023 Most “Trusted Utility Brands” CEV Increased capacity by ~75MW in fiscal 2023 through July (a record for CEV in any FY) Project pipeline of ~757MW through Fiscal 2027 S&T Significant year-over-year revenue growth and NFEPS contribution in line with expectations Energy Services Continued contribution from AMA Solid performance from long-option strategy during the quarter

Fiscal 2023 NFEPS Guidance of $2.62 to $2.72 Re-Affirmed Net Financial Earnings per Share NFEPS long-term annual growth projections are based on the midpoint of the $2.20 - $2.30 initial guidance range for fiscal 2022, provided on February 1, 2021 7-9% LONG-TERM ANNUAL GROWTH1 Fiscal 2023 NFEPS Guidance by Segment Guidance Raised by $0.20 in Q1 FY2023; Represents 8.1% Increase from Midpoint of FY 2023 Initial Guidance Range FY2024 EXPECTED TO BE AT OR ABOVE THE TOP END OF THE LONG-TERM ANNUAL GROWTH RANGE DUE TO IMPACT OF THE AMA 15.3% NFEPS CAGR THROUGH FY2023E YTD 2023 NFEPS $2.40 (unchanged from prior conference call)

New Jersey Natural Gas Strong Trend of Favorable Customer Growth ~$315M 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 included in “Other” ~40% of capital expenditures earning a near real-time return NJNG Customers (in thousands) Added 5,892 new customers YTD in fiscal 2023 compared to 5,274 in YTD fiscal 2022 Timing of Next Rate Case Filing Expected in Fiscal 2024 YTD Fiscal 2023 Capital Expenditures1 The SAVEGREEN Project®, received the 2023 ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE).

Clean Energy Ventures (CEV) CEV owns and operates solar projects with approximately 462MW of capacity Total ~1.2 GW MWs Pipeline of ~757MW including projects under construction, contract, or exclusivity (through July 2023) ~462MW of projects in-service ~58% of pipeline located in NJ ~42% located outside of NJ New In-Service in Fiscal 2023 ~75MW Record in Any Given Fiscal Year (previously 60MW in 2020)

Financial Review Roberto Bel SVP and Chief Financial Officer 8 8

Fiscal 2023 YTD Fiscal 2023 Q3 Review of Fiscal 2023 Q3 and YTD NFE Changes ($ in Millions) A reconciliation of these non-GAAP measures can be found in the Appendix The sum of 3Q23 and YTD 2023 actual amounts may not equal to total due to rounding Fiscal 3Q22 – Consolidated NFE ($ in millions) $ (3.6) NJNG $ (1.8) Utility Gross Margin1 $ 5.8 O&M $ (6.7) Depreciation & Amortization (D&A) $ (1.9) Interest expense, AFUDC, Income Tax $ 1.0 Clean Energy Ventures $ 12.4 Revenue $ (0.6) D&A and Interest Expense $ (3.7) Other $ 16.7 Storage & Transportation $ (1.2) Revenue $ 5.8 D&A and Interest Expense $ (6.0) AFUDC & Other $ (1.0) Energy Services $ 3.4 Financial Margin1 $ 3.1 Interest Expense, Income Tax and Other $ 0.3 Home Services and Other $ 0.4 Fiscal 3Q23 – Consolidated NFE ($ in millions)2 $ 9.7 Fiscal 2022 YTD – Consolidated NFE ($ in millions) $ 192.4 NJNG $ (0.3) Utility Gross Margin1 $ 28.3 O&M $ (25.5) Depreciation & Amortization (D&A) $ (5.8) Interest expense, AFUDC, Income Tax $ 2.7 Clean Energy Ventures $ 12.7 Revenue $ 4.6 D&A and Interest Expense $ (3.9) Other $ 12.0 Storage & Transportation $ (0.1) Revenue $ 28.1 D&A and Interest Expense $ (22.1) AFUDC & Other $ (6.1) Energy Services $ 29.6 Financial Margin1 $ 42.3 Interest Expense, Income Tax and Other $ (12.7) Home Services and Other $ (2.1) Fiscal 2023 YTD – Consolidated NFE ($ in millions)2 $ 232.3

Capital Plan1 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 $529 $712 $622 $545 - $633 $542 - $728 ($ in Millions) Capital plan supports long-term NFEPS growth targets of 7 – 9%

FY2022A FY2023E FY2024E Cash Flow from Operations $324 $400 - $420 $450 - $490 Uses of Funds Capital Expenditures1 $590 $491 - $575 $489 - $671 Dividends2 $128 $132 - $137 $143 - $148 Total Uses of Funds $718 $623 - $712 $632 - $819 Financing Activities Common Stock Proceeds – DRIP $15 $57 - $61 $17 - $19 Debt Proceeds/Other $379 $166 - $231 $165 - $310 Total Financing Activities $394 $223 - $292 $182 - $329 Projected Cash Flows ($ in Millions) Excludes accrual for AFUDC and SAVEGREEN investments (for GAAP purposes, SAVEGREEN investments are included in Cash Flow from Operations) Dividend growth for fiscal 2023 and fiscal 2024 are based upon the midpoint of forecasted 7-9% growth rate Increased from $320 - $360 in last quarterly conference call)

Investment Grade Profile 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. NJR Adjusted FFO / Adjusted Debt1 NJNG (Secured Rating) NJR (Unsecured Rating) NAIC NAIC-1.E NAIC-2.A Moody's A1 (Stable) Fitch A+ (Stable) Current Credit Ratings Strong Credit Ratings Supported by Stable Cash Flows Increased from 17-18% in last quarterly conference call)

Alignment with New Jersey’s Clean Energy Policy Landscape 2019 The Energy Master Plan (EMP) established priorities for the use, management and development of energy in New Jersey 2023 EO 317 engages with stakeholders to develop plans that reduce emissions from the natural gas sector to levels that are consistent with achieving the State’s 50 percent reduction in greenhouse gas emissions August 2 – 3, 2023 NJBPU Technical Conference discussing reduction of emissions in the Natural Gas sector SAVEGREEN Maximize energy efficiency and conservation CEV expansion Accelerate the use of renewable energy H2 & RNG Decarbonize New Jersey’s energy system NJR Environmental Initiatives

Key Takeaways: Fiscal 2023 Year-to-Date Implementing Strategic Plan to Drive Continued Organic Growth Across Portfolio Highest Long-Term Growth Rate Across LDC Peer Group 7 – 9% Reiterates FY 2023 NFE Guidance $2.62 - $2.72 Raised by $0.20 in Q1 2023 Defined Capital Plan $1.1 - $1.4 Billion Expected for Fiscal Years 2023 and 2024 Organic Growth Opportunities Maximizing Value of Existing Assets

16 Reconciliation of NFE and NFEPS to Net Income 17 Other Reconciliation of Non-GAAP Measures 18 Reconciliation of Adjusted Funds from Operations to Cash Flow from Operations 19 Fiscal 2023 Third Quarter and YTD NFE by Business Unit 20 Clean Energy Ventures - SREC Hedging Strategy 21 Capital Plan Table 22 Dividend Growth: Committed to Building Shareholder Value 23 Debt Maturities 24 Total Expected Shareholder Return 25 Environmental, Social and Governance Efforts 26 Shareholder and Contact Information Appendix: Financial Statements and Additional Information 15

Reconciliation of NFE and NFEPS to Net Income ($ in 000s) NFE is a measure of earnings based on the elimination of timing differences to effectively match the earnings effects of the economic hedges with the physical sale of natural gas, Solar Renewable Energy Certificates (SRECs) and foreign currency contracts. Consequently, to reconcile net income and NFE, current-period unrealized gains and losses on the derivatives are excluded from NFE as a reconciling item. Realized derivative gains and losses are also included in current-period net income. However, NFE includes only realized gains and losses related to natural gas sold out of inventory, effectively matching the full earnings effects of the derivatives with realized margins on physical natural gas flows. 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, 2023 2022 2023 2022 NEW JERSEY RESOURCES A reconciliation of net income, the closest GAAP financial measure, to net financial earnings is as follows: Net income $ 1,532 $ 13,053 $ 227,700 $ 220,400 Add: Unrealized gain on derivative instruments and related transactions (12,970) (17,891) (30,502) (58,060) Tax effect 3,083 4,253 7,250 13,809 Effects of economic hedging related to natural gas inventory 24,116 428 36,885 25,160 Tax effect (5,731) (102) (8,766) (5,979) Gain on equity method investment (100) (4,021) (300) (4,021) Tax effect 24 1,003 74 1,003 NFE tax adjustment (284) (274) (77) 113 Net financial earnings (loss) $ 9,670 $ (3,551) $ 232,264 $ 192,425 Weighted Average Shares Outstanding Basic 97,168 96,154 96,849 96,055 Diluted 97,886 96,620 97,538 96,527 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 $ 0.02 $ 0.14 $ 2.35 $ 2.29 Add: Unrealized gain on derivative instruments and related transactions (0.14) (0.19) (0.31) (0.60) Tax effect 0.03 0.04 0.07 0.14 Effects of economic hedging related to natural gas inventory 0.25 — 0.38 0.26 Tax effect (0.06) — (0.09) (0.06) Gain on equity method investment — (0.04) — (0.04) Tax effect — 0.01 — 0.01 Basic net financial earnings (loss) per share $ 0.10 $ (0.04) $ 2.40 $ 2.00

Other Reconciliation of Non-GAAP Measures ($ in 000s) 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. (Unaudited) Three Months Ended Nine Months Ended June 30, June 30, 2023 2022 2023 2022 A reconciliation of gross margin, the closest GAAP financial measurement, to utility gross margin is as follows: Operating revenues $ 145,308 $ 199,695 $ 903,892 $ 938,279 Less: Natural gas purchases 44,669 102,624 388,134 442,441 Operating and maintenance (1) 31,436 25,034 88,441 64,924 Regulatory rider expense 6,120 8,360 47,525 55,941 Depreciation and amortization 25,825 23,951 76,034 70,188 Gross margin 37,258 39,726 303,758 304,785 Add: Operating and maintenance (1) 31,436 25,034 88,441 64,924 Depreciation and amortization 25,825 23,951 76,034 70,188 Utility gross margin $ 94,519 $ 88,711 $ 468,233 $ 439,897 A reconciliation of gross margin, the closest GAAP financial measurement, to financial margin is as follows: Operating revenues $ 70,172 $ 307,815 $ 588,684 $ 1,089,704 Less: Natural Gas purchases 76,599 290,767 471,000 980,600 Operating and maintenance (1) 3,244 5,617 14,366 12,864 Depreciation and amortization 51 34 170 94 Gross margin (9,722) 11,397 103,148 96,146 Add: Operating and maintenance (1) 3,244 5,617 14,366 12,864 Depreciation and amortization 51 34 170 94 Unrealized gain on derivative instruments and related transactions (13,601) (16,470) (39,692) (61,671) Effects of economic hedging related to natural gas inventory 24,116 428 36,885 25,160 Financial margin $ 4,088 $ 1,006 $ 114,877 $ 72,593 (1) 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 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 Cash Flow from Operations $323.5 Add back Components of working capital $77.7 Cash paid for interest (net of amounts capitalized) $84.4 Capitalized Interest $6.1 SAVEGREEN loans, grants, rebates and related investments $53.1 Operating cash flows from operating leases $7.4 Adjusted FFO (Non-GAAP) $552.2 Long-Term Debt (including current maturities) $2,560.4 Short-Term Debt $424.0 Exclude Cash on Hand ($1.1) CEV Sale-Leaseback Debt ($130.6) Include CEV Sale lease-back Contractual Commitments $111.6 Debt Issuance Costs $13.3 Operating Lease Debt estimate (8x lease expense) $77.6 Adjusted Debt (Non-GAAP) $3,055.2 Adjusted Debt, FY2022 (Millions) Adjusted Funds from Operations, FY2022(Millions)

Fiscal 2023 Q3 and YTD NFE by Business Unit ($ in 000s) (Thousands) Three Months Ended June 30, Nine Months Ended June 30, 2023 2022 Change 2023 2022 Change New Jersey Natural Gas $891 $2,648 $(1,757) $156,252 $156,511 $(259) Clean Energy Ventures $7,267 $(5,098) $12,365 $(5,694) $(18,410) $12,716 Storage and Transportation $2,358 $3,526 $(1,168) $11,051 $11,113 $(62) Energy Services $(1,604) $(5,003) $3,399 $72,054 $42,504 $29,550 Home Services and Other $758 $376 $382 $(1,399) $707 $(2,106) Total $9,670 $(3,551) $13,221 $232,264 $192,425 $39,839 NFEPS $0.10 $(0.04) $0.14 $2.40 $2.00 $0.40

CEV: SREC Hedging Strategy Stabilizes Revenue Based on Energy Year1, as of June 30, 2023 Percent Hedged Average Price Current Price (EY) 100% $197 $214 89% $190 $202 71% $183 $188 Energy Years run from June 1 of the prior year to May 31 of the respective year; for example, Energy Year 2023 begins on June 1, 2022, and ends on May 31, 2023 17% $154 $176 94% $203 $219 Based on Fiscal Year, as of June 30, 2023 Percent Hedged Average Price Current Price (FY) 97% $195 $210 75% $190 $197 63% $182 $184 18% $154 $169 100% $204 $217 Over 97% hedged through Fiscal Year 2024 63% hedged through Fiscal Year 2026 Over 94% hedged through Energy Year 2024 71% hedged through Energy Year 2026

1Q FY2023A 2Q FY2023A 3Q FY2023A YTD FY2023A FY2022A FY2023E FY2024E Near Real Time Return? New Jersey Natural Gas New Customer $13 $18 $20 $51 $54 $64 - $68 $56 - $60 Yes Maintenance & Integrity $27 $28 $33 $88 $104 $126 - $129 $161 - $176 Cost of Removal / Other $9 $10 $13 $31 $42 $36 - $40 $36 - $40 Facilities $9 $12 $7 $27 $7 $31 - $34 $2 - $4 IT $14 $14 $16 $44 $42 $65 - $69 $46 - $50 IIP $9 $9 $16 $34 $32 $32 - $36 $26 - $30 Yes RNG & P2G - - - - $1 $8 - $12 $25 - $28 SAVEGREEN $11 $13 $16 $40 $53 $48 - $52 $48 - $52 Yes $91 $104 $120 $315 $335 $410 - $440 $400 - $440 Clean Energy Ventures Sunlight Advantage $2 $3 $3 $8 $13 $9 - $13 $10 - $14 Commercial Solar $42 $16 $7 $65 $132 $91 - $137 $130 - $266 $44 $19 $10 $73 $145 $100 - $150 $140 - $280 Storage and Transportation Adelphia Gateway $12 $3 $1 $16 $124 $12 - $16 $2 - $6 Leaf River $1 $3 $2 $6 $18 $23 - $27 $0 - $2 $13 $6 $3 $21 $142 $35 - $43 $2 - $8 Total $148 $129 $132 $409 $622 $545 - $633 $542 - $728 Capital Plan Table1,2 ($ 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

Dividend Growth: Committed to Building Shareholder Value Strong Track Record of Dividend Growth $1.56 FY 2023 Dividend (up 7.6%) 7.3% DPS CAGR Dividend History Dividends per Share 7.6 percent increase in the quarterly dividend rate to $0.39 per share from $0.3625 per share Ex-Dividend Date Record Date Payable Date Amount Per Share 06/13/2023 06/14/2023 07/03/2023 $0.39 03/14/2023 03/15/2023 04/03/2023 $0.39 12/13/2022 12/14/2022 01/03/2023 $0.39 09/23/2022 09/26/2022 10/03/2022 $0.391 06/14/2022 06/15/2022 07/01/2022 $0.3625 03/15/2022 03/16/2022 04/01/2022 $0.3625 12/14/2021 12/15/2021 01/03/2022 $0.3625 09/17/2021 09/20/2021 10/01/2021 $0.3625 06/15/2021 06/16/2021 07/01/2021 $0.3325 03/16/2021 03/17/2021 04/01/2021 $0.3325 12/15/2020 12/16/2020 01/04/2021 $0.3325 09/21/2020 09/22/2020 10/01/2020 $0.3325 06/15/2020 06/16/2020 07/01/2020 $0.3125 03/16/2020 03/17/2020 04/01/2020 $0.3125 12/18/2019 12/19/2019 01/02/2020 $0.3125 09/19/2019 09/20/2019 10/01/2019 $0.3125 Highlighted Rows Reflect Changes in Quarterly Cash Dividends

Well Positioned in a Rising Interest Rate Environment ($ in Millions) Term debt only (excludes short-term debt of $145.2 million, capital leases of $33.3 million and solar financing obligations of $283.4 million). Group by fiscal years. Impact of high interest rate environment included in FY2023 and long-term NFEPS guidance Interest rate impact mitigated by predominately fixed-rate debt Manageable debt repayment schedule with no significant maturity towers in any particular year Substantial liquidity at both NJNG and NJR - $900M of credit facilities available through FY2027 Term Debt1 Maturity Schedule as of June 30, 2023 No Refinancing Necessary

Expect 7% - 9% NFEPS Growth Annualized dividend yield of 3.6%1 Dividend growth in line with long-term NFEPS growth expectations Net Zero by 2050 goal for New Jersey operations Total Expected Shareholder Return The Clean Energy Future Starts at NJR Solid Long Term Growth Outlook NJR is a Premier Energy Infrastructure Company Delivering Value to Shareholders Through Growth and Income Growing Dividend Based on dividend per share of $1.56 and closing share price of $43.88 on August 1, 2023 TOTAL EXPECTED SHAREHOLDER RETURN: ~10 - 13%

Environmental, Social and Governance Efforts Focus on Definable Accomplishments Social Established $20 million endowment fund for NJR’s charities to support continued community giving long into the future Robust structure and initiatives to promote DEI at NJR including Executive DEI Council to ensure accountability Employee-led Business Resource Groups (BRGs) bring together employees with common background to promote engagement and inclusiveness – 21% of NJR workforce belongs to one or more BRGs During the third quarter, NJR received the Monmouth County Diversity Alliance's Excellence in Diversity Award and the New Jersey Business and Industry Association's NJR Diversity, Equity and Inclusion Award Achieved NJ operational emissions reductions over 55% since 2006 with goal of 60% by 2030 and net zero by 2050 One of the largest owner-operators of solar assets in New Jersey, we have invested over $1 billion over the last decade building clean, emissions-free power for homes and businesses Plans to invest up to $2 million over the next five years through its Coastal Climate Initiative, which has expanded to a multi-faceted environmental stewardship program Environmental Continued progress on reporting and transparency as through publication of 14th consecutive sustainability report Our board of directors (Board) has a broad range of skills and industry knowledge, as well as a diversity of perspectives that align with our company’s long-term strategy The Board is responsible for oversight of NJR’s overall strategy, including all Environmental Social and Governance (ESG) issues NJR includes sustainability considerations in the performance metrics of our Commitment to Stakeholders. Actual results of these goals and metrics directly impact the compensation of corporate officers year-to-year and ensure accountability Governance In June 2023, more than 200 employees supported the Natural Resources Education Foundation in Waretown over two days of giving back. Our team refurbished the facilities and landscaping, restored the bird viewing area, and planted salt marsh grass in the tidal wetland restoration area. Our effort helped to support this nonprofit’s mission – to educate visitors about the unique environment of the Jersey Shore. In addition to our volunteer efforts, we were pleased to donate $50,000 through our Coastal Climate Initiative to further NREF’s ongoing salt marsh restoration efforts. Salt marshes are a natural way to remove carbon dioxide from the air and support coastal ecosystems and resilience. To learn more, visit njng.com/climate. Coastal Climate Initiative in Action

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 Website: www.njresources.com Investor Relations: LINK Follow us: Shareholder and Online 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 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. Stock Transfer Agent and Registrar