California Water Service Group (NYSE:CWT) Q3 2021 Earnings Conference Call October 28, 2021 11:00 AM ET Company Participants Dave Healey - VP, Corporate Controller Martin Kropelnicki - President & CEO Thomas Smegal - VP & CFO Paul Townsley - VP, Corporate Development & CRO Conference Call Participants Ben Kallo - Baird Jonathan Reeder - Wells Fargo Angie Storozynski - Seaport Operator Good day and thank you for standing by. Welcome to the California Water Service Group Q3 2021 Earnings Call. At this time, a ...

| --- | --- | --- | --- | --- | --- | --- | |-------|-----------------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | Third Quarter 2021 Results Presentation October 28, 2021 | | | | | | | | | | | | 0 | | Forward-Looking Statements 1 This presentation contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 ("Act"). The forward-looking statements are inten ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13883 CALIFORNIA WATER SERVICE GROUP (Exact name of registrant as specified in its charter) Delaware 77-0448 ...

Table of Contents Title of Each Class: Trading Symbol(s) Name of Each Exchange on Which Registered: Common Stock, $0.01 par value per share CWT New York Stock Exchange Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 3 ...

California Water Service Group (NYSE:CWT) Q1 2021 Results Conference Call April 29, 2021 11:00 AM ET Company Participants David Healey - VP and Corporate Controller Martin Kropelnicki - President and CEO Thomas Smegal - VP and CFO Paul Townsley - VP, Corporate Development and Chief Regulatory Officer Conference Call Participants Ben Kallo - Baird Operator Hello, and welcome to the California Water Service Group Q1 2021 Results Conference Call. [Operator Instructions] It is now my pleasure to turn today's ca ...

| --- | --- | --- | --- | --- | --- | --- | |----------------|------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | April 29, 2021 | First Quarter 2021 Results Presentation | | | | | | | | | | | | 0 | | Forward-Looking Statements 1 This presentation contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 ("Act"). The forward-looking statements are intended to qua ...

Table of Contents Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission fi ...

Financial Data and Key Metrics Changes - The company reported a record net income of $96.8 million for 2020, which is an increase of over 50% compared to the previous year [10][11] - Earnings per share rose to $1.97, also up over 50% from 2019 [10] - Capital expenditures reached nearly $300 million, marking a 9% increase from 2019 [6][10] Business Line Data and Key Metrics Changes - The adoption of the California General Rate Case significantly contributed to revenue and net income, with the rate case adopted on December 3, 2020 [11][12] - The company recorded a net income of $15.5 million for Q4 2020, compared to $11.3 million in the same period of the previous year [10] Market Data and Key Metrics Changes - Water sales were approximately 96% of adopted sales, reflecting a 4.9% increase from 2019, driven by higher residential usage due to the pandemic [24] Company Strategy and Development Direction - The company plans to continue its capital investment program, with a target range of $270 million to $300 million for 2021 [32] - The company is focused on regulatory activities, including filing a cost of capital application and a new General Rate Case in 2021 [31][39] - The company aims to enhance its ESG efforts, having completed a materiality assessment and planning to release an ESG report [27][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the challenges posed by the pandemic, highlighting strong liquidity and safety protocols [25][21] - The company anticipates continued challenges related to bad debt and collection processes due to the ongoing effects of COVID-19 [22][18] Other Important Information - The company completed the largest capital project in its history, the Palos Verdes Peninsula Water Reliability Project, which went into service in Q4 2020 [6] - The company increased its dividend by 8.2% earlier in January 2021, reflecting a strong financial position [6] Q&A Session Summary Question: How should the market think about longer-term growth? - Management indicated that the increase in rate base from $1.6 billion in 2020 to $1.7 billion in 2021 will positively impact earnings, with additional CapEx expected to contribute to growth [42][43] Question: What is the focus for business development? - The company is focused on acquiring undercapitalized assets in the western U.S. and is actively pursuing opportunities in its existing states [46][47] Question: How will the cost of capital proceeding impact earnings? - Management noted that while there is a lower cost of debt, the overall impact on earnings is currently neutral due to increased financing costs related to collections [51][52] Question: What lessons have been learned from other companies regarding water production volumes? - The company is working to ensure accurate forecasts for water sales and production costs, especially with the loss of full decoupling in the upcoming rate case [54][55] Question: What is the expected impact of non-California systems on earnings? - Management indicated that while there may be an uptick in earnings from non-California systems as tourism recovers, the overall impact remains uncertain due to the ongoing pandemic [56][57]

Use these links to rapidly review the document TABLE OF CONTENTS Table of Contents Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file No. 1-13883 CALIFORNIA WATER SERVICE GROUP (Exact name of registrant as specified in its charter) Delaware 77-0448994 (State or Other Jurisdicti ...

Table of Contents Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commissio ...